The International Monetary Fund warned Monday that countries cannot rely exclusively on public funds to cut greenhouse gas emissions, stating the effort needs a big boost from the private sector.
Why it matters: In two new reports kicking off high-level meetings in Washington and Morocco during the next two weeks, the IMF pointed to how far off track the Group of 20 largest industrialized countries are from their own 2030 emissions targets and emphasized the need for far more private sector money.
The sizzling summer of 2023 may be over, but now the U.S. is seeing the reemergence of summer-like heat for tens of millions from Minneapolis to Maine.
The big picture: Temperatures this week have already broken records, including a monthly high of 92°F in Minneapolis on Sunday,which forced the cancellation of the Twin Cities marathon for health reasons.
There's plenty of fallout from the Biden administration's plan to greatly slow offshore oil and gas leasing.
Catch up fast: The Interior Department plans a maximum of three Gulf of Mexico sales in 2025, 2027 and 2029, a historically low number in the 5-year schedules, it said Friday.
A key company in the nascent direct air capture sector won't accept investment from oil-and-gas companies.
Driving the news: The firm in question, Heirloom, also promised that no carbon dioxide removed with its technology will be used for enhanced oil recovery, wherein CO2 is injected to boost well output.
