Most of the capex rises that have been announced this year will go to hydrocarbon rather than renewables investments.

Uruguay is the latest South American country to unveil a green hydrogen roadmap, but unlike some other aspiring producers and exporters of the emerging resource, the government has not yet relinquished plans to drill for oil and gas.

BP saw record Q2 earnings on the back of high oil and gas prices but like its peers much of the surplus will go to share buybacks or dividends, with little extra ear-marked for energy transition projects or new oil and gas output.

Germany is in the process of adopting a number of laws that it hopes will help speed up the energy transition and achieve an 80% renewables target in the electricity sector by 2030.

New fossil fuel projects “every day accelerate our race towards the precipice. Enough is enough,” said Cardinal Michael Czerny, speaking on behalf of Pope Francis.

Russia’s invasion of Ukraine has led to a sharp escalation in fuel prices, making it difficult for the import-dependent nation to keep the lights on.

Denmark has introduced a CO2 tax in a bid to support the goal of 70% CO2 reductions by 2030 and to help speed up the energy transition such as the expansion of offshore wind power.

US investment giant EIG has acquired new assets in Chile including the crown jewel of Cerro Dominador, a solar complex comprising 110 MW of CSP and 100 MW of PV capacity, in the Atacama desert.

A new study has found that government policies that help accelerate the energy transition to net zero will reduce future energy bills and create jobs while maintaining GDP growth in both advanced and developing economies.