energy

41 G7 energy billionaires have increased their wealth by $23.5 billion since the unlawful US and Israel war against Iran began, reveals new Oxfam analysis published ahead of the G7 summit in Evian, France.

41 G7 energy billionaires have increased their wealth by $23.5 billion since the unlawful US and Israel war against Iran began, reveals new Oxfam analysis published ahead of the G7 summit in Evian, France. This is equivalent to about $1,000 in the time it takes to blink. Billionaires globally have gained $9.8 trillion since 2020.

722 of the world’s biggest corporations together raked in over $1 trillion in windfall profits each year for the past two years amid soaring prices and interest rates, while billions of people are having to cut back or go hungry. 

The richest 1 percent grabbed nearly two-thirds of all new wealth worth $42 trillion created since 2020, almost twice as much money as the bottom 99 percent of the world’s population, reveals a new Oxfam report today. During the past decade, the richest 1 percent had captured around half of all new wealth. 

The energy investment decisions of the new $100bn Asian Infrastructure Investment Bank could signal a dramatic, positive new direction in the fight against global poverty and climate change.

European Governments are increasingly relying on bioenergy as a cheap way to meet targets for renewable energy. Bioenergy represented 62% of EU’s renewable energy use in 2012. But new evidence on the real climate impacts and other environmental and social impacts of bioenergy has made its use increasingly controversial. 

At today’s meeting of EU Energy Ministers, a debate was held on the 2030 European Climate and Energy Package as well as the Energy Security Strategy put forward by the European Commission last mont

Commenting on the failure of EU Energy Ministers to reach agreement on EU biofuel policy today, Marc Olivier Herman, Oxfam’s biofuels expert said:

The World Bank’s board today gave the green light for an energy strategy which will limit its financing of coal-fired power plants to “rare circumstances” reflecting the lender’s increased focus on