Aussie Budget tipped to deliver massive boost in climate change spending
13 May 2008
Australian Treaurer Wayne Swan will unveil a $2.3 billion climate-change programme in today's budget, the biggest investment of its kind.
The single biggest slice, around $860 million, will be pumped into developing low-emissions technology programmes.
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What does India’s new Paris Agreement pledge mean for climate action?
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India has set a new target to reduce its “emissions intensity” – greenhouse gas emissions per unit of economic output – to 47% below 2005 levels by 2035.
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France's Finance Minister Roland Lescure revealed that between 30 and 40 per cent of Gulf refining capacity has been damaged or destroyed by Iran's retaliatory strikes, leaving a shortage of 11 million barrels a day on global oil markets. Lescure warned it could take up to three years to restore damaged facilities, and several months to restart those that were urgently shut down.
Big Oil to reap billions from Iran war windfall after a month of soaring energy prices
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As Big Oil executives gathered this week and discussed the biggest-ever disruption to global energy supplies due to the war in Iran, there was one impact they did not address publicly: the multibillion-dollar windfall they will make because of soaring prices for the energy they sell.
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Countries across Africa have taken measures such as diluting petrol and restricting electricity consumption to cope with the fuel crisis triggered by the US and Israel's war in Iran.
Arctic sea ice just dropped to an alarming new low
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Right now, the Arctic is maxing out on sea ice – the cold of winter has built up over months of darkness, and ice has spread as far south as it will all year. It’s the North Pole’s sea ice maximum, except this year, it’s alarmingly low.
