According to the report, "Regional, weighted average costs of electricity from biomass for power, geothermal, hydropower, and onshore wind are all now in the range, or even span a lower range, than estimated fossil fuel-fired electricity generation costs." Electricity from photovoltaic panels is also becoming less expensive, with the cheapest installations about on par with many
fossil fuel power plants.
The trend is striking: Increased
fossil fuel use correlates with every positive metric of human well-being -- from life expectancy to income to nourishment to clean water access to safety.
(For human beings, "resources" includes a broad spectrum of things, including natural beauty.) To assess the
fossil fuel industry's impact on our environment, we simply need to ask: What is its impact on threats?
I believe the Anglican church should join the
fossil fuel divestment movement.
This amounts to a net subsidy to big industry for
fossil fuel use.
Their conclusion is that if we are to have a 50 per cent chance of stopping the warming before 2C, then at least two-thirds of the currently listed
fossil fuel reserves will have to stay in the ground permanently.
We're in a climate emergency - divest from
fossil fuel companies.
Financial institutions such as the International Monetary Fund, HSBC and the Bank of England have warned about the financial risk of
fossil fuel investments and we already see
fossil fuel companies struggling, with major coal companies declaring bankruptcy and big oil companies hitting record low profits.
Cardiff council has called on the fund to divest the money it has tied up with oil and gas companies linked to
fossil fuel extraction.
Investing in
fossil fuels is providing "increasingly poor" returns on investment according to a new study.
More than 1,070 institutions in more than 30 countries, with total assets of about $8.8 trillion, have divested themselves of
fossil fuel shares since a divestment campaign began about nine years ago, according to the website gofossilfree.org.
These
fossil fuel companies are embracing a variety of tactics.