Oil, gas and coal production must fall six percent a year in order to limit catastrophic global warming, the United Nations warned Wednesday, even as high-polluting nations bank on fossil fuels to drive their Covid-19 recoveries.
The UN's annual Production Gap assessment measures the difference between the Paris Agreement climate goals and nations' planned production of fossil fuels.
The coal industry is under increasing financial pressure, a coalition of environmental groups said Wednesday, but insurers are not ditching the polluting fuel fast enough to meet climate targets they warned.
The fourth annual scorecard by the Insure Our Future campaign found that insurers around the world continue to retreat from coal, which is having a tangible tangible impact on coal mining and power companies.
It cited a broker as saying coal developers are facing rate increases of up to 40 percent this year.
Environmental groups faced off against Shell before a Dutch court Tuesday in a landmark bid to force the oil giant to meet emissions targets in the Paris climate accord.
The "historic" case being heard in The Hague was launched in 2019 by the Netherlands branch of Friends of the Earth, backed by 17,300 Dutch citizens who have registered as co-complainants.
Hydrogen-powered car manufacturer Riversimple is hoping to steal a march on competitors ahead of Britain's promised "green revolution" that would see petrol-powered cars banned within 10 years.
While conventional battery-powered electric cars may be a few miles ahead in the zero-emission vehicle race, the company is betting that nascent hydrogen technology will fuel the cars of the future.
South Korea's Hyundai claims to be the current world leader, selling 5,000 units of its Nexo model in 2019, followed by the Toyota Mirai.