As volatile energy prices continue to spike, driven in part by geopolitical instability and gas market shocks, governments face an urgent challenge: how to bring down household energy bills immediately and protect their citizens from fossil-flation making everything more expensive.
The proposed agreement risks locking Europe into decades of fossil fuel dependency while exposing households to rising energy costs and geopolitical pressure. The warning comes amid escalating pressure from the Trump administration, which has threatened to restrict gas supplies to Europe unless the deal is agreed without amendments.
Trump administration will pay $1 billion to French energy giant TotalEnergies to abandon two U.S. offshore wind leases, the campaign group 350.org condemned the move as a reckless misuse of public funds that undermines clean energy progress and locks in future energy insecurity.
Soaring prices for fuel, fertilizer and food could be the last straw for millions of families in the global South already pushed into poverty by climate change. Governments must act now to stop oil and gas companies profiting from the war— by taxing their windfall profits to finance protections for ordinary people.
The new plan, the first update since 2008, sets out Brazil’s pathway to cut emissions by up to 67% by 2035 and reach net zero by 2050, with a continued focus on ending deforestation, a major driver of emissions in the Amazon. However, campaigners say the plan lacks the ambition needed to rapidly transition away from oil, gas and coal, particularly as Brazil remains one of the world’s top emitters.
If G7 countries are serious about stabilizing the market, they need to stop protecting profits and start taxing companies which fuel the climate crisis. Working people shouldn't be paying the price while oil majors treat the war in the Middle East like a winning lottery ticket.
