In 2024, renewables and nuclear surpassed 40% of global power generation for the first time since the 1940s, driven largely by a record increase in renewable energy additions, particularly solar power. Solar energy doubled in three years, becoming the fastest-growing and largest source of new electricity, while fossil fuel generation saw a small increase primarily due to heatwaves increasing cooling demands. Despite this, clean energy growth is projected to outpace demand growth in the coming years, signaling a potential decline in fossil fuel reliance. This transition is significantly influenced by China and India’s substantial investments in renewable energy sources.
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BP chair Helge Lund will step down in 2026, following shareholder pressure and a reversal of the company’s net-zero strategy. This decision comes after activist investor Elliott built a large stake in BP, protesting the company’s shift toward green energy. The strategy, spearheaded by former CEO Bernard Looney, was ultimately abandoned in favor of increased fossil fuel production, a move that angered climate activists. Lund’s departure follows a “fundamental reset” of BP’s strategy aimed at improving performance and shareholder value. A search for his successor, led by senior independent director Amanda Blanc, is now underway.
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During a recent speech, Donald Trump criticized the push for electric vehicles and electric heaters, asserting that the United States lacks sufficient electricity to support widespread adoption. He argued that gas heaters are superior, claiming they provide better, cheaper heat without the supposed “itchiness” associated with electric models. Trump’s preference for gas aligns with his broader policy of increasing fossil fuel production, despite the environmental implications. While condensing gas heaters offer long-term cost and emissions benefits, these advantages were dismissed by Trump.
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The Montana Supreme Court upheld a lower court ruling that the state violated residents’ constitutional right to a clean environment by approving fossil fuel projects without considering climate change impacts. The 6-1 decision rejected the state’s argument that Montana’s emissions are insignificant globally, stating that such reasoning renders environmental rights meaningless. The ruling mandates that Montana must assess greenhouse gas emissions from future fossil fuel permits, a decision met with criticism from Republican officials who claim judicial overreach. This landmark case, brought by young Montanans, sets a significant precedent for using constitutional environmental rights to address climate change.
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The offer, seemingly tailored for Elon Musk and similar figures, promises lucrative opportunities to private entities. The plan’s specifics remain undefined, but it may facilitate the expansion of fossil fuel production under Trump’s “Drill, Baby, Drill!” initiative. This could lead to significant profits for those involved while potentially undermining environmental regulations. Musk’s enthusiastic response highlights the potential for significant private sector gains at the expense of essential governmental functions.
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President Prabowo Subianto announced plans to retire all Indonesian fossil fuel power plants and install over 75 gigawatts of renewable energy within 15 years, aiming for net-zero emissions by 2050. This ambitious goal, a decade ahead of previous commitments, involves leveraging Indonesia’s substantial geothermal resources and other renewable energy sources. Experts welcome the announcement but emphasize the need for immediate, concrete actions to phase out coal plants and secure necessary investment. Currently, Indonesia heavily relies on coal, emitting significant carbon dioxide, underscoring the scale of the transition required.
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President-elect Trump nominated Chris Wright, CEO of Liberty Energy and a prominent fossil fuel advocate, to serve as Energy Secretary. Wright, a vocal opponent of climate change initiatives, supports increased fossil fuel production and aims to reverse the Biden administration’s pause on natural gas export approvals. His appointment has drawn both praise from conservatives in the energy industry and criticism from environmental groups who deem it a setback for clean energy development. If confirmed, Wright will play a key role in Trump’s plan to achieve global “energy dominance” alongside Interior Secretary-nominee Doug Burgum.
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Newly uncovered documents reveal that major oil companies were alerted to the climate change risks of fossil fuels as early as 1954. This warning, delivered by the Air Pollution Foundation, an industry-funded group, represents the earliest known instance of big oil being informed about the potentially catastrophic consequences of their products. Despite receiving this warning, the oil industry actively downplayed and denied the harms of burning fossil fuels, utilizing a strategy similar to the tobacco industry’s tactics for denying the dangers of smoking. These actions, which date back to the 1950s, laid the groundwork for decades of climate denial and delay by big oil.
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Our conference aims to address the climate crisis and transition away from hydrocarbons in a just and equitable manner, welcoming solutions from all stakeholders, including the oil and gas industry. While we are open to investments in green transitioning projects, we also see opportunities in Azerbaijan’s plans to increase gas production, including new pipeline infrastructure. This includes potential joint ventures and the role of natural gas as a transitional fuel, recognizing that some oil and gas production may continue beyond 2050. However, we emphasize that developing new oil and gas fields is incompatible with limiting warming to 1.5°C, a point that aligns with the global agreement to transition away from fossil fuels.
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UN Secretary-General António Guterres warns that the world is underestimating the risk of catastrophic climate breakdown, with global heating on track to exceed 1.5°C in the coming years. He highlights the potential for irreversible tipping points, like the collapse of the Amazon rainforest and the Greenland ice sheet, and emphasizes the urgent need for deep cuts to greenhouse gas emissions. Guterres urges greater coordination on environmental crises, stressing the interconnectedness of climate change and biodiversity loss, and emphasizes the importance of phasing out fossil fuels completely to avoid a crippled Paris Agreement. He acknowledges that limiting warming to 1.5°C is still possible but warns that exceeding this threshold would have devastating consequences.
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John Q. Hosedrinker