Politics

World Bank president resigns amid conflict with Trump administration

World Bank president resigns amid conflict with Trump administration

World Bank Group President Jim Yong Kim has unexpectedly resigned from his position amid differences of opinion with the Trump administration over climate change. Appointed for two five-year terms by President Barrack Obama, Kim has pushed forward green financing projects and has dropped funding for coal power projects. Meanwhile, US […]

Ecuador president demands investigation into Correa’s oil projects

Ecuador president demands investigation into Correa’s oil projects

Ecuadorean President Lenin Moreno has instructed the country’s prosecution team to investigate $4.9 billion of oil related infrastructure projects, claimed to have been looted during his leftist predecessor’s tenure. According to Moreno, five projects built during Rafael Correa’s presidency were subject to significant cost overruns, operational failings and non-transparent bidding […]

European Parliament votes to block Nord Stream 2

European Parliament votes to block Nord Stream 2

Shares in Russia’s gas producer Gazprom plummeted last week after the European Parliament voted to condemn the Nord Stream 2 pipeline that is planned to deliver gas from Russia to Germany. The company’s shares opening down 1.6pc in Moscow following the motion that described the pipeline as “a political project […]

Trump’s pro-fossil fuel stance gains momentum

Trump’s pro-fossil fuel stance gains momentum

The US this week held a side-event at the COP24 conference and declared that fossil fuels are here to stay and will help to end energy poverty in the developing world. The event held at COP24 on Monday gave the US administration a platform to promote President Donald Trump’s pro-fossil […]

No-deal Brexit “hugely damaging” for North Sea

No-deal Brexit “hugely damaging” for North Sea

Scotland’s energy minister Paul Wheelhouse has said a no-deal Brexit would be “hugely damaging” to the North Sea’s oil and gas industry. Speaking during a visit to Aberdeen, he added that forcing the UK to have to negotiate agreements with EU members through the World Trade Organisation (WTO) would be […]

Asian countries prioritising development over climate goals

Asian countries prioritising development over climate goals

Countries across Asia are increasingly finding themselves torn meeting emissions reductions targets and meeting economic development goals, and in many cases are prioritising development over limiting emission. Asia has 2,000GW of coal fired power plants that are either under construction or fully operational, with China and India increasing coal power […]

COP24 host Poland defends use of coal

COP24 host Poland defends use of coal

COP24 host and Polish President Andrzej Duda has told coal miners in the country that the industry will continue to play an important role in Poland. Speaking to miners in the southern town of Brzeszcze, Duda said Poland “will continue to rely on coal. Of course, we’ll achieve an energy […]

World Bank pledges $200bn in climate funding

World Bank pledges $200bn in climate funding

The World Bank has pledged $200 billion in investments for low carbon projects, despite the fact that its largest shareholder, USA, is refusing to re-join the Paris agreement and is set to host a pro-fossil fuel side event at the United Nation’s climate talks. The funds will come from a […]