Tag: fossil fuels

Ireland to fully divest from fossil fuels over the next five years

Ireland to fully divest from fossil fuels over the next five years

January 31, 2017 |

In Ireland, the parliament has voted 90-53 to fully divest from fossil fuels, the first country to do so. The EUR8 billion Ireland Strategic Investment Fund must sell all of its investments in coal, gas and oil during the next five years. A member for County Claire has called on the government to focus on […]

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GRFA calls for end to fossil fuel subsidies

GRFA calls for end to fossil fuel subsidies

February 23, 2016 |

In Canada, the Global Renewable Fuels Alliance has called upon national leaders to take advantage of the low price and abundant stockpiles of crude oil to eliminate fossil fuel subsidies. Baker pointed to the latest figures from the International Energy Agency that estimated global fossil fuel subsidies to be worth $490 billion, and outlined how […]

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IEA reports that fossil fuels industry receives $500b in subsidies

IEA reports that fossil fuels industry receives $500b in subsidies

November 17, 2014 |

Bloomberg reports that the International Energy Agency reports that the fossil fuels industry receives $500 billion a year in subsidies, and is holding back investment in cleaner forms of energy. Oil, coal and gas received more than four times the $120 billion paid out in incentives for renewables including wind, solar and biofuels, the Paris-based […]

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Fossil Fuel Divestment, the $5 trillion challenge: will it sunset, and who’s next?

Fossil Fuel Divestment, the $5 trillion challenge: will it sunset, and who’s next?

August 26, 2014 |

Pressure is starting to build for institutional investors to cut their exposure to fossil fuel stocks, but they will need to find viable alternative destinations for their money? A new white paper from Bloomberg New Energy Finance tackles the topic. Oil, gas and coal companies make up one of the world’s largest liquid asset classes, […]

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