Record sums were invested last year in coal power – the most carbon intensive form of energy on the planet – by the World Bank, despite international commitments to slash the carbon emissions blamed for climate change. The World Bank said this week that a total of US$3.4bn – or a quarter of all funding for energy projects – was spent in the year to June 2010 helping to build new coal-fired power stations. Over the same period the bank also spent $1bn on looking and drilling for oil and gas.
A new report shows global spending on carbon capture and hydrogen subsidies "failed to make a dent in carbon emissions" after 50 years of research and development.
The Tory leadership candidate has criticised the UK’s net zero targets while accepting donations from fossil fuel investors and climate denial funders.
A flagship climate scheme will cost taxpayers billions, with no guarantee of a meaningful impact on emissions.
Rupert Lowe has been campaigning against climate action while owning a heat pump supplier.
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