New Norway’s Press Release states its contribution towards Climate Finance totalled NOK 15.5 billion in 2022. Norfund, notably the Climate Investment Fund, drove a substantial increase mobilizing over NOK 5.6 billion in private capital for renewable energy investments in developing nations. (Context: Norway at COP26 (2021) had aimed to double annual climate funding by 2026 (against NOK 7 billion in 2020), contributing to the global $100 billion climate finance goal)
The Union Cabinet has approved scheme for the development of a 4,000 MWh Battery Energy Storage System to store excess wind & solar power. The initial outlay is INR 9,400 crore. The scheme aims to minimize energy wastage, optimize transmission networks & benefit distribution companies by reducing supply gaps during peak hours, ultimately supporting India's renewable energy goals.
A Greenpeace Report revealed only 0.3% of energy produced by the 12 largest oil & gas firms came from renewables, despite Net-Zero pledges. They continued to invest 92.7% in fossil fuels, with a 1/3rd increase in investment for green energy. The report accuses these companies of greenwashing & calls for stricter regulations/roadmap to phase out oil & gas in Europe. Their total profits & revenues surged by 75% & 70%, respectively, during the same time.