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- Wednesday 8th January 2025
Wednesday 8th January 2025
Net-Zero Banking Alliance unravels as all major US banks exit, Biden bans offshore drilling, Germany cuts emissions 48% since 1990, and UK hits record clean electricity—while climate disasters, green pledges, and billion-dollar wind projects shape 2024’s net-zero narrative.
24 Hours In Sustainability
Worldwide Highlights
The Net-Zero Banking Alliance is now all but dead, with JPMorganChase confirming they are leaving, following Citi, BofA, Morgan Stanley, Goldman Sachs and Wells Fargo who have all left in the last 3 weeks.
Net-Zero Banking Alliance is part of the Glasgow Financial Alliance for Net Zero (GFANZ), a UN-backed group that formed as part of the Glasgow Cop26 in 2021. With all the departures GFANZ is now restructuring.
Biden bans offshore drilling across vast area of US (and perhaps Trump will have challenges to reinstate it)
German greenhouse gas emissions fell by three percent in 2024 - reflecting a 48 percent drop from 1990 levels.
Thailand reaffirms green pledges despite disappointment with COP29
Microsoft launch SPARROW: AI to measure and protect biodiversity in the most remote places
Norway-based energy company Equinor has secured $3 billion for the Empire Wind 1 project - the 80,000 acre wind project off the coast of New York.
Climate crisis ‘wreaking havoc’ on Earth’s water cycle, report finds
Worst climate disasters of 2024 that caused billions in damage
UK Highlights
UK electricity cleanest on record in 2024 with renewables responsible for 45% of generation and final coal power station closed
UK government scraps plan to ban sale of gas boilers by 2035
Government accused of ‘bullying’ to get pylons built under Ed Miliband’s net zero drive [Paywall - view cached copy]
Millions of homes to get grants and cheap loans for solar panels
Average Briton causes 23 times more CO2 on Christmas Day
The Daily Climate Sceptic
Devils in the Machine – driving an electric car is fake environmentalism
Long-Read of the Week
How the World Really Works, by Vaclav Smil a renowned scientist and policy analyst, offers a comprehensive examination of the fundamental systems that underpin our modern civilisation, including energy, food production, and manufacturing.
He emphasises our deep dependence on fossil fuels and the complexities involved in transitioning to sustainable alternatives. This insightful analysis challenges common perceptions and provides a realistic understanding of the challenges and opportunities we face in building a sustainable future.
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