Billions of dollars of public money was sunk in new fossil fuel projects by the world’s major development banks in the year after the Paris climate change deal was agreed, according to campaigners who are calling for the banks to halt their financing of coal, oil and gas. The new analysis also reveals that some of the taxpayers’ money given to coal and gas projects was counted as “climate” finance. Funding for fossil fuel projects from the six main international development banks totalled at least $5bn in 2016, according to a report from researchers at Oil Change International (OCI). In particular, OCI estimate the funding for exploration for new oil and gas more than doubled in 2016, to $2.1bn. Funding for clean energy also grew by more than a third, to $11.4bn. A second report from analysts at E3G suggests that in recent years the World Bank and European Bank for Development and Reconstruction (EBRD) have given similar levels of funding to fossil fuels as to climate-friendly energy projects.
Guardian 12th Oct 2017 read more »
Another scientist has accused SNP ministers of being selective in choosing evidence to justify their decision to ban fracking. Susan Waldron, of the University of Glasgow, said that while the Scottish government pointed to strong feelings in a public consultation over the ban, and some other studies, it was not clear how additional commissioned reports had been taken into account. The professor of biogeochemistry was part of a group of experts, set up by ministers, that concluded in 2014 that fracking could be carried out safely if properly regulated. It was chaired by Chris Masters, an academic who this week accused the Scottish government of repeatedly ignoring scientific evidence when making policy. Professor Waldron said that she was disappointed by the decision to ban unconventional oil and gas extraction, criticising it as unethical.
Times 14th Oct 2017 read more »
