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Study reveals G20 nations increased fossil fuel investments in 2022, defying climate goals

Amid the upcoming G20 summit in New Delhi, where global leaders are poised to deliberate on critical topics including climate change, a study reveals a conflicting trend. Attending countries had substantially increased financial support for fossil fuels in 2022, which is in glaring contradiction to achieving the climate objectives set by the Paris Agreement, claims the study. Conducted by the International Institute for Sustainable Development (IISD), the study found that G20 member countries extended an all-time high of $1.4 trillion in public funds to bolster the fossil fuel industry in 2022.
IISD in the news September 1, 2023

CBA SCALE+

The Community-based Adaptation: Scaling-up Community Action for Livelihoods and Ecosystems (CBA SCALE+) project works with local authorities, communities, and policymakers in Southern Africa and beyond to scale up CBA approaches that are nature-based, gender-responsive, and fair.
Project September 1, 2023

AQUA-Pearl

A new project will help communities in Fiji build their resilience to climate change through nature-based approaches to oyster aquaculture.
Project September 1, 2023

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