Portugal's government has selected more than 30 multi-billion euro hydrogen projects interested in building production units of so-called "green" energy in the country after the coronavirus pandemic.
European Union countries have agreed that the bloc's flagship fund to wean regions off fossil fuels should not finance nuclear or natural gas projects, despite calls from some Eastern countries for gas to be eligible for EU funding.
Global investment in new clean energy capacity rose 1% last year to $282.2 billion, research by UNEP, Bloomberg New Energy Finance and the Frankfurt School-UNEP Collaborating Centre shows.
The world's financial services sector risks losses of up to $1 trillion if it fails to respond quickly to climate change and is hit by policy shifts such as the introduction of a carbon tax, a new report shows.
Representatives from nearly 200 countries meet in Madrid from Dec. 2-13 to flesh out rules for implementing the landmark Paris Agreement on climate change.
Governments face a struggle at a United Nations summit in Spain next week to inject momentum into efforts to curb global warming, dogged by lack of consensus, U.S. scepticism and disruptive protests demanding more action.
Chubb Ltd will become the first U.S. insurer to phase out its coal investments and insurance policies, saying on Monday it will no longer sell insurance to or invest in companies that make more than 30% of their revenue from coal mining.
