May 2016: Renewables Hit Record High, Twilight of Big Oil, G7 Invests Billions in Coal
More investment, more installed capacity, more jobs – 2015 was a record year for renewables, according to the latest REN21 and IRENA reports. Europe has lost its position as renewable energy leader, as most of the investment came from the emerging and developing countries. Meanwhile, major oil companies are having big troubles as shareholders are increasingly pushing for a reassessment of their business models against the Paris climate targets and as new evidence on stranded assets is piling up. Despite latest commitments, G7 countries keep investing billions in coal facilities abroad. This news and a new study on 100% renewable energy in Iran in our latest newsletter.