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Can carbon capture solve the climate crisis?

In its Climate Change 2023 synthesis report, the Intergovernmental Panel on Climate Change (IPCC) mentions the "use of CCS in remaining fossil fuel systems" as one of the major changes we need to make to achieve net zero in our energy systems. While it was first conceived as a way to reduce carbon emissions as early as the 1970s, investments in carbon capture and storage have seen a sharp uptick lately. But does carbon capture and storage simply give us a get-out-of-jail card to keep emitting?
IISD in the news August 31, 2023

How fossil fuel subsidies are hurting the energy transition

G20 leaders are preparing to meet in New Delhi on Sept. 9-10, where action to tackle climate change and boost clean energy will be on the agenda—but recent reports have exposed how the world’s most powerful nations are still pouring huge amounts of money into supporting the production and use of fossil fuels. Analysis from the International Institute for Sustainable Development (IISD) shows that G20 governments provided a record US$1.4 trillion to subsidize climate-heating fossil fuels in 2022.
IISD in the news August 30, 2023

India's renewable energy ambitions could exceed 500 GW: ISA

India is poised not only to achieve its ambitious target of 500-gigawatts renewable energy capacity by 2030 but also surpass it, driven by an anticipated decline in battery prices by 2025, according to Ajay Mathur, Director General of the International Solar Alliance. Mathur said a fall in battery prices by 2025 could drive the widespread adoption of solar plus battery solutions, leading to the realization of India's ambitious target of installing 500 GW of renewable energy capacity by 2030—one of the five commitments Prime Minister Narendra Modi made during the 2021 Glasgow climate talks.
IISD in the news August 29, 2023

IMF: Fossil fuel subsidies hit RM6t

Despite repeated government pledges to cut back on fossil fuel subsidies, a new report found such subsidies surged to a record US$1.3 trillion (RM5.95 trillion) last year. The report by the International Monetary Fund looked at both explicit and implicit subsidies for fossil fuels across 170 countries. The findings dovetail with a report that came out earlier last week by the International Institute for Sustainable Development (IISD), a Canada-based think tank, which found that public monies in Group of 20 countries alone going to explicit fossil fuel subsidies more than quadrupled to US$1 trillion in 2022 compared to a year ago.
IISD in the news August 28, 2023

Global fossil fuel subsidies and costs hit record $7tn in 2022, IMF reports

Global fossil fuel subsidies hit a record total of $7tn in 2022 as governments rushed to shield consumers from soaring energy prices sparked by Russia's invasion of Ukraine, the IMF estimates. This compares with the most recent estimates from the International Institute for Sustainable Development think-tank this week that said subsidies from G20 economies stood at $1.4tn, including investments by state-owned enterprises and loans from public finance institutions.
IISD in the news August 25, 2023

The staying power of fossil fuel subsidies

Well over a decade after high-profile international vows to rein in subsidies for producing and using fossil fuels, they remain deeply woven into government policies.
IISD in the news August 25, 2023