NTU Divest wants the university to disclose how much it invests in fossil fuels companies. It also aims to be a platform to empower students and staff to speak up about environmental and social injustices.
The Philippine central bank has started requiring local financial institutions to report on their energy investments, but more will be needed for Filipino banks to exit from coal, the largest single source of man-made carbon emissions.
JBIC's governor has said the bank will no longer accept loan applications for new coal power projects. The statement comes as more Asian firms ditch coal, underscoring that the capital flight from the fossil fuel is accelerating.
Christian McCormick and Paul Schofield –
One of the immediate impacts of the coronavirus crisis was a fall in global energy use. While demand will likely rebound to previous levels, the overall energy mix is changing. Renewables are playing a bigger role as traditional sources such as coal become increasingly uneconomic. This trend was already in place when the pandemic hit, but is now proceeding at an accelerating pace.
Sara Jane Ahmed –
The Philippines’ Congress and conglomerates confirm backing a shift to Renewable Energy. The country has a rare opportunity to come together in support of clean energy options that will benefit everyone.
Using a coal retirement mechanism, nations could phase out coal power and replace it with renewables more quickly while creating new jobs, improving public health, and changing the trajectory of carbon emissions.
After years of increasingly severe hurricane seasons in which island countries and territories in the Caribbean have lost power for weeks and even months at a time, the need for climate resilience could not be clearer. And as the Bahamas is showing, the cleanest energy sources can also be the most resilient.
Zafirah Zein –
In the video, environmental law group ClientEarth compares the oil and gas giant's advertisements on its low-carbon investments to a burger chain claiming that they’re vegan because they’ve got salad on the menu.