Monthly Sustainability Bulletin
January - 2025
Trump Takes Aim at Biden’s Inflation Reduction Act
President-elect Donald Trump has vowed to repeal Joe Biden's signature climate bill called the Inflation Reduction Act, which initially aimed at some $400 billion in new spending and tax cuts and credits at accelerating America's transition to a green energy economy. The Congressional Budget Office expects the cost to swell above $800 billion due to higher-than-expected demand for the tax credits; much of the direct funding has already been spent.
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December - 2024
EU Looks to Geothermal in Drive for Energy Security, Document Shows
European Union countries plan to promote geothermal energy as they hunt for ways to replace Russian gas and bring down energy prices. The 27 EU members will jointly endorse geothermal energy for the first time at a meeting of EU energy ministers in Brussels next week, according to a draft document seen by Reuters. The draft requests an EU strategy to reduce emissions from heating and cooling systems, and specific EU measures to speed up geothermal projects.
November - 2024
Climate Change is Making Temperatures Deadlier, Experts Warn
Climate change, driven by anthropogenic emissions, is raising temperatures to dangerous new heights, causing more frequent occurrencesof extreme weather events, worsening drought and exacerbating food security. The Lancet Countdown, an annual report by doctors and health experts, found that the record temperatures of 2023 -the hottest year on record -meant the average person experienced 50 more days of dangerous temperatures than they would have without climate change.
October - 2024
Britain Promises up to $28.5 Blnfor Carbon Capture Projects
Britain will provide funding of up to 21.7 billion pounds ($28.5 billion) over 25 years to develop carbon capture and storage (CCS) projects to curb emissions from industry and create new jobs in northern England, the government said in early October. "Carbon capture technology is not just about cleaning up our industry and our energy sector. It is a massive opportunity to attract investment and create thousands of skilled jobs," finance minister Rachel Reeves said when announcing the funding.
September - 2024
Summer of 2024 Was World's Hottest on Record, EU Climate Change Monitor Says
The world is emerging from its warmest northern hemisphere summer since records began, the European Union's climate change monitoring service said, as global warming continues to intensify. The boreal summer of June to August this year blew past last summer to become the world's warmest, the Copernicus Climate Change Service (C3S) said in a monthly bulletin. The exceptional heat increases the likelihood that 2024 will outrank 2023 as the planet's warmest on record.