NEWSROOM
Renewables funding to double fossil fuel investment in 2024
Investment in clean energy projects is predicted to rise to $2tn this year globally, double the $1trn predicted for fossil fuel sources, according to researchers at the International Energy Agency (IEA). This comes after 2023 saw investment in green energy top fossil fuels for the first time. However, the experts warn that more investment is needed to meet the Paris Agreement goals. This applies particularly to emerging economies, which (with the exception of China, the largest single investor in renewables) account for only 15% of capital flows. As global energy demand increases, the IEA predicts that investment in fossil fuels will also continue to rise, a trend which many experts deem incompatible with keeping global warming below 1.5C.
Drug-addled fish and birds a result of human pollution, according to study
Pharmaceutical pollution across global waterways is having a drastic effect on marine life, according to a growing number of studies. Fish exposed to contraceptive pills have exhibited sex reversal, and starlings exposed to the antidepressant Prozac have been observed to sing and mate less, in both cases decimating populations. More than 40% of sites tested globally in a 2022 study by the University of York showed traces of drugs above ecologically safe levels. The authors have called on the pharmaceutical industry to take action to prevent this, including designing drugs that are fully absorbed after consumption – stopping them entering the sewers in effluent – and expanding the treatment of wastewater to reduce exposure.
Edible carbon beads heal liver cirrhosis
A new study published by the British Medical Journal found that eating carbon beads helped restore gut health and improve liver, kidney and brain function in rats and mice. The tiny beads, which have been found safe for human use, reduced inflammation and bad gut-bacteria. In contrast with the standard antibiotic treatment for liver cirrhosis, the beads also improve gut conditions for good bacteria to thrive. Smaller than a grain of salt, the beads were ingested for several weeks at a time and shown to prevent the progress of liver scarring, and to reduce mortality in animals with acute-on-chronic-liver-failure. Scientists working on the project are hopeful that the beads can be used to treat illnesses like irritable bowel syndrome, which is on the rise in many countries.
Big banks called out for exploiting the Amazon
Five of the world’s biggest banks have been called out for ‘greenwashing’ their role in the destruction the Amazon rainforest, in a new report from Stand.earth and the Coordinating Body of Indigenous Organizations of the Amazon Basin (COICA). Citibank, JPMorgan Chase, Itaú Unibanco, Santander and Bank of America are accused of funding oil and gas projects in the region that put the environment and local livelihoods in danger. The report argues that the banks’ ESG policies fail to prevent investment in projects that exploit indigenous populations and irrevocably harm nature. JPMorgan’s biodiversity protections covered just 2% of the Amazon rainforest, and these areas were Unesco world heritage sites unlikely to be exploited for oil and gas in any case. The report noted that British-headquartered HSBC has changed its policies for the better in recent years, with all of the Amazon protected under current rules.
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