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The burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis.

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Nearly half of the coal industry intends to develop new projects to exploit the world’s dirtiest fossil fuel, according to German campaign group Urgewald, with many companies refusing to retire assets even as extreme weather events become worse and more frequent across the globe.

An annual update from Urgewald and 40 partner NGOs published Thursday found that 490 of the 1,064 companies on its Global Coal Exit List were pursuing new coal power plants, coal mines or new coal transport infrastructure.

It means 46% of the companies surveyed are committed to expanding despite last year’s U.N. climate summit in Glasgow ending with a global agreement to “accelerate efforts towards the phasedown of unabated coal.”

The research, which represents the world’s most comprehensive public database on the coal industry, said less than 3% of those surveyed had announced timely coal exit dates.

“Pursuing new coal projects in the midst of a climate emergency is reckless, irresponsible behavior,” said Heffa Schuecking, director of Urgewald. “Investors, banks, and insurers should ban these coal developers from their portfolios immediately.”

Coal is the most carbon-intensive fossil fuel in terms of emissions and therefore the most critical target for replacement in the transition to renewable energy sources.

To be sure, the burning of fossil fuels such as coal, oil and gas is the chief driver of the climate crisis.

In just the last few months, historic floods submerged one-third of Pakistan, Europe experienced its hottest summer in 500 years and China recorded the most severe heatwave in climatic history.

At the same time, some European governments have reluctantly turned to coal to help prevent a winter supply shortage amid a dramatic fall in Russian gas flows. Moscow has throttled gas supplies amid a bitter energy stand-off provoked by the Kremlin’s war in Ukraine.

Clear and near coal exit dates

Speaking ahead of the COP27 climate summit in Sharm el-Sheikh next month, U.N. Secretary-General Antonio Guterres warned, “we are in a life-or-death struggle for our own safety today and our survival tomorrow.”

“This is no time for pointing fingers — or twiddling thumbs. It is time for a quantum level compromise between developed and emerging economies,” he added.

The NGOs report said there are currently more than 6,500 coal plant units globally with a combined capacity of 2,067 gigawatts. It says that whether humanity is able to keep global heating from surpassing the critical temperature threshold of 1.5 degrees Celsius depends “first and foremost on how quickly we phase out this enormous coal plant fleet.”

The 1.5 degrees Celsius goal is the aspirational global temperature limit set in the landmark 2015 Paris Agreement. It is recognized as a crucial global target because beyond this level, so-called tipping points become more likely.

The vast majority of companies on the GCEL still have no intention of retiring the coal assets, which are propelling us towards a breakdown of our climate systems.

Heffa Schuecking

Director of Urgewald

Under the IEA’s roadmap to net zero by 2050, published in May last year, the world’s richest countries must retire their coal power plants by the end of the decade — at the latest — and by 2040 for the rest of the world.

In stark contrast to high-income countries like Italy, France and the U.K., however, the U.S. has not yet set a national phase-out date for its coal power plants.

“While the warnings issued by IPCC and UNEP become more and more dire from one UN Climate Summit to the next, our data regarding companies’ transition plans remains depressingly consistent,” Schuecking said.

“The vast majority of companies on the GCEL still have no intention of retiring the coal assets, which are propelling us towards a breakdown of our climate systems. A real transition requires clear and near coal exit dates.”

Today, there are more than 6,500 coal plant units globally with a combined capacity of 2,067 gigawatts.

Saeed Khan | Afp | Getty Images

Urgewald’s Schuecking told CNBC that since the 2015 Paris accord was signed, the global coal plant fleet had seen a net increase of roughly 157 gigawatts. That’s the equivalent of Germany, Russia, Japan and Poland’s coal fleet added up together.

The research found that 467 gigawatts of new coal-fired capacity were still in the pipeline worldwide. And, if realized, these projects would increase the world’s current coal power capacity by 23%.

“Stopping investing in or financing coal developers, that should be a no-brainer. I just don’t see how anyone can be serious about the Paris goals or be an institution that takes climate seriously if you’re still involved with coal developers,” Schuecking said.

China’s coal habit

China was found to be responsible for 61% of all planned coal power capacity additions and, perhaps unsurprisingly, the top four coal plant developers were found to be Chinese companies: China Huaneng Group, China Energy Investment Corporation, China Datang Corporation and China Huadian Corporation.

The report found that with 570 million metric tons, China Energy Investment Corporation was the world’s top thermal coal producer last year. This was closely followed by Coal India, which produced 557 million tons of thermal coal in 2021.

Lidy Nacpil, coordinator of the Asian People’s Movement on Debt and Development, a regional alliance of community organizations and NGOs, said the world welcomed Chinese President Xi Jinping’s announcement last year that Beijing would stop building new coal power plants abroad.

“But China needs to adopt similar measures for its domestic energy system if it wants to become an actor for a 1.5°C world,” Nacpil said.

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Hyundai’s 2025 IONIQ 5 EV is cheaper than a Toyota RAV4 with up to $16,000 in discounts

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January 8, 2025

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Hyundai's 2025 IONIQ 5 EV is cheaper than a Toyota RAV4 with up to ,000 in discounts

Hyundai-2025-IONIQ-5-discounts

The upgraded electric SUV is arriving with up to $16,000 in savings. With discounts, Hyundai’s new 2025 IONIQ 5 can be bought for under $28,000, nearly half off MSRP. That’s even cheaper than a new Toyota RAV4.

Hyundai’s best-selling electric SUV is now better than ever. The 2025 Hyundai IONIQ 5 was introduced last September with more range, style, and features. It now even comes with an NACS port to charge up at Tesla Superchargers.

The refreshed IONIQ 5 was the first vehicle to roll off the assembly line at Hyundai’s new EV plant in Georgia. Build in the US, it now qualifies for the $7,500 federal tax credit for the first time. But that’s not all.

Hyundai is already offering massive savings opportunities as the new electric SUV rolls out to dealerships. According to auto intelligence firm CarsDirect, the 2025 Hyundai IONIQ 5 already has up to $16,000 in discounts.

In addition to the $7,500 EV tax credit, all trims feature a $7,500 Retail Cash Bonus. Buyers can use the tax credit up front, while the Cash Bonus is valid when buying or leasing.

Hyundai-2025-IONIQ-5-discounts
2025 Hyundai IONIQ 5 (Source: Hyundai)

In addition, Hyundai offers a $1,000 conquest in most areas if you trade in a competitive vehicle. This can also be used when buying or leasing.

When added up, that’s up to $16,000 in discounts. Starting at $43,975, you could potentially buy the 2025 Hyundai IONIQ 5 SE Standard Range model for under $28,000.

Hyundai-2025-IONIQ-5-interior
2025 Hyundai IONIQ 5 Limited interior (Source: Hyundai)

That’s even more affordable than the 2025 Toyota RAV4, which starts at $30,245. However, Toyota’s SUV does not have a factory rebate. Hyundai’s promotion ends on February 3, 2025.

With a bigger 84 kWh battery, the 2025 IONIQ 5 has a driving range of 318 miles, up from 303 miles in the outgoing model. The Standard Range model, powered by a 63 kWh battery pack, has a range of 245 miles.

2025 Hyundai IONIQ 5 Trim EV Powertrain Driving Range (miles) Starting Price* 
IONIQ 5 SE RWD Standard Range 168-horsepower rear motor 245 $42,500
IONIQ 5 SE RWD 225-horsepower rear motor 318 $46,550
IONIQ 5 SEL RWD 225-horsepower rear motor 318 $49,500
IONIQ 5 Limited RWD 225-horsepower rear motor 318 $54,200
IONIQ 5 SE Dual Motor AWD 320-horsepower dual motor 290 $50,050
IONIQ 5 SEL Dual Motor AWD 320-horsepower dual motor 290 $53,000
IONIQ 5 XRT Dual Motor  AWD 320 horsepower dual motor 259 $55,400
IONIQ 5 Limited Dual Motor AWD 320-horsepower dual motor 269 $58,100
2025 Hyundai IONIQ 5 prices and range by trim (*includes $1,475 destination fee)

Hyundai’s new model now comes with an NACS port as standard, unlocking access to 36,000 DC fast chargers. That’s more than double the number current drivers have access to.

The interior, updated based on customer feedback, now includes added HVAC controls, a redesigned steering wheel, and a new center console. The cockpit features a dual 12.3″ infotainment and driver display with wireless Apple CarPlay and Android Auto support.

Ready to take advantage of the savings while they last? We can help you find the right model at the best price. You can use our link to view offers on 2025 Hyundai IONIQ 5 models at a dealer near you today.

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Tesla officially appeals judge’s decision on Elon Musk’s compensation package

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January 8, 2025

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Tesla officially appeals judge's decision on Elon Musk's compensation package

Tesla has officially filed its appeal against the Delaware judge’s decision on Elon Musk’s compensation package.

It’s heading to the state’s Supreme Court.

For a full context of the case, you can read our last article on Judge McCormick rejecting Tesla’s claim that the new shareholder would ratify the compensation package and force her to vacate her decision to void the pay package.

Last month, Judge McCormick rejected Tesla’s ratification argument, which she explained goes against settled law, and she also found other “multiple, material misstatements in the proxy statement” of the new vote.

Tesla and its CEO Elon Musk were upset at the ruling and the latter went as far as calling up “corruption” without offering any evidence.

As expected, Tesla has now appealed the ruling with the Delaware Supreme Court.

The automaker is insisting on trying to get the same $55 billion compensation package approved based on the argument that the judge is taking away shareholders’ right to decide for themselves.

However, this is based on Tesla completely rejecting all the judge’s findings regarding how Tesla is misleading shareholders about how the package was negotiated and presented to shareholders.

Electrek’s Take

As I wrote last summer, Elon Musk’s compensation package case will haunt Tesla for years. Even if you believe Musk deserves this package, Tesla’s approach to reinstating it was boneheaded and didn’t follow the law as I, and seemingly the judge and most Delaware corporate law experts, understand it.

Tesla, and more specifically Elon Musk, it’s hard to differentiate the two lately, which is part of the problem, are showing no intention to address their governance issues.

Let’s be clear: Elon could get paid somewhat easily here. Even as much or close to this amount. However, it needs to do it through the proper governance and respect the process.

Instead, Elon prefers to lie to shareholders and present the situation as politically motivated lawfare. It’s nonsense.

Now, it’s going to the Supreme Court and there’s a chance that nothing will change.

There’s an easy solution. Recognize the issues highlighted by the judge, address them, and present an updated compensation package to shareholders that takes into account the governance issue and that reduces the package proportionally to the cost of this entire mess to Tesla.

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Lectric New Year sale increases savings on XPedition 2.0 cargo e-bike bundle, Govee smart composter, Worx, Greenworks, more

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January 8, 2025

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Lectric New Year sale increases savings on XPedition 2.0 cargo e-bike bundle, Govee smart composter, Worx, Greenworks, more

Today’s Green Deals are being led by Lectric’s New Year sale that is giving folks up to $727 in free gear along with e-bike purchases, with increased savings on its new XPedition 2.0 13Ah Single-Battery Cargo e-bike that comes with $326 in free gear for $1,399. From there, we have a collection of handy devices and tools for around the home, with Govee’s Smart Electric Composter down at $300. We also have a new low price on Worx’s latest Nitro 40V Cordless Leaf Blower for $159, as well as two Greenworks deals – the 80V 12-inch Cordless Electric Snow Shovel at $234 and an 80V 3-tool lawncare combo that is back at its $570 low for today only. Plus, all the other hangover Green Deals can be found in the links at the bottom of the page, like yesterday’s Segway e-bike preorder launch, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Lectric New Year sale increases savings to $326 on new XPedition 2.0 13Ah cargo e-bike bundle at $1,399

It’s a New Year so Lectric is throwing a new sale with up to $727 in savings on the brand’s e-bike bundles. While prices on most of these bundles are landing at or below its Black Friday and Christmas rates, one model seeing an increase in savings is the new XPedition 2.0 13Ah Single-Battery Cargo e-bike at $1,399 shipped, which comes with $326 in free gear. Normally totaling up to $1,725, we saw this EV getting $296 in gear since releasing back in November. While savings on its two dual-battery iterations have slightly lowered, this model is benefitting from increased savings with the biggest accessory package we’ve seen to date.

Sporting two new colorways from the brand, the XPedition 2.0 Cargo e-bike has some obvious upgrades from its first-generation model, like the extended rear rack or the increased 450-pound payload. It’s been given an improved 750W M24 rear hub motor (peaking at 1,310W) that reaches 28 MPH top speeds, with increased acceleration and much more power to tackle inclines even with cargo being hauled along. This base model is powered by a 13Ah battery that provides up to 60 miles with the PAS support (the dual 13Ah model bumps this to 120 miles while the dual 17.5Ah model goes higher to 170 miles). What’s more, its charger has been improved to 5A output, “cutting down on charging speeds by 60%.”

Aside from its impressive performance capabilities for the low price, it also comes with loads a solid features, like the adjustable dual spring 50mm front suspension fork, the Shimano 8-speed drivetrain, narrower 20-inch by 2.5-inch wheels with fenders over each, more powerful hydraulic mineral oil disc brakes, the headlamp and taillights with brake lighting and turn signal functionality, the wider-stance kickstand, and a color display.

Lectric New Year sale XPedition 2.0 (26Ah) e-bike with $505 in gear

Lectric New Year sale XPedition 2.0 (35Ah) e-bike with $654 in gear

Lectric New Year sale XP Trike with $419 in gear

Lectric New Year sale XPeak 2.0 e-bikes with up to $365 in gear

Lectric New Year sale ONE Long-Range e-bike with $319 in gear

Lectric New Year sale XP Lite 2.0 long-range e-bikes with up to $365 in gear

Lectric New Year sale XPress 750 Commuter e-bikes with $128 in gear

Lectric New Year sale XP 3.0 e-bikes with $117 in gear

govee smart electric composter deals with food waste

Make use of your food waste with Govee’s Smart Electric Composter at $300

Through its official Amazon storefront, Govee is offering a lightning deal on its latest Smart Electric Composter that is down at $299.98 shipped, after clipping the on-page $50 off coupon. It’s starting off already down from its $500 MSRP, and while we have seen it go as lower twice before, you’re still looking at a solid $200 in savings here while the deal lasts. Upgrade your kitchen today with the third-lowest price we have tracked since it was released in October, landing just $50 above the all-time low from Prime Day.

Cut out food waste and its costs by recycling it for alternate uses with Govee’s Smart Electric Composter which not only gives you records of your disposal routines, but also provides low-cost nutrient-rich soil for your garden and/or potted plants. It features three modes with plenty of safety notifications sent directly to your device when problems arise, complete with in-app smart controls and even hands-free voice controls through Alexa, Google Assistant, and Siri. And I’m sure you’re concerned about foul smells from the food breaking down, but don’t be! The two interchangeable filters prevent those odors from the composting cycle from filling your home.

Worx leaf blower

Clear out debris with Worx’s Nitro 40V cordless leaf blower equipped with two 4.0Ah batteries at new $159 low

Amazon has dropped the price lower than ever on the Worx Nitro 40V Cordless Leaf Blower with two 4.0Ah batteries for $158.99 shipped. This newer model usually carries a $200 price tag, which has fallen as low as $160 back in mid-December, with slightly increased savings here today. You can grab one for your tool arsenal at a 21% markdown here, saving you $41 at the lowest price we have tracked.

Whether you live in a warmer climate during winter or want to start prepping for after the snow melts away, Worx’s Nitro 40V cordless leaf blower will be ready to clear your yard’s leftover debris with 530 CFM of airflow (180 MPH) that matches up to a 27cc gas blower. The two included 4.0Ah batteries ensure you’ll get 90 minutes of runtime on one charge, with it only weighing in at 7.7 pounds, making it easy to handle no matter the age, size, or physical strength. It has 3-speed adjustments alongside a turbo mode for boosted power, even coming with a concentrator nozzle that can be equipped to reach its maximum output airspeeds.

Greenworks snow shovel

Carve a 12-inch wide path with this Greenworks 80V cordless electric snow shovel while it’s at $234

Amazon is bringing the savings to equipment perfect for snow relief, with the Greenworks 80V 12-inch Cordless Electric Snow Shovel down at $234.49 shipped. The price has been brought down from its usual $350 MSRP today, which saves you $116 off its full costs. While we have seen it go as low as $200 in the past (which hasn’t been seen since 2023 Christmas sales), it’s been spending more recent months near $300, except for occasional events like October’s Prime Day or early Black Friday sales, which is when we first saw it at this 2024 low.

Winter is well under way, and plenty of folks across the country have been battling it out with Mother Nature’s snowfall already, and this electric snow shovel from Greenworks is ready to join the fight. Its 80V brushless motor will have a 12-inch wide by 6-inch deep path cleared in no time, with snow tossed up to 25 feet out of the way. The lightweight design makes it easy to manage while in operation, not to mention the management of space, which you’ll save over larger snow blowers. The included 2.0Ah battery provides a 45-minute runtime for every 30 minute period that it charges, and the shovel also protects you via the lock-out button that prevents accidental start ups when your digits start growing too cold and stiff.

Lectric New Year sale

Through its lineup of Deals of the Day, Best Buy is offering the Greenworks 80V 21-inch Lawn Mower, 13-inch String Trimmer, and 730 CFM Leaf Blower Combo for $569.99 shipped for the rest of the day. Down from its usual $1,100 full price, we’ve mainly seen it fall between $600 and $700 over the last year, with some occasional drops lower. Today is one of the occasions as you save $530 off the going rate while stocking up on reliable equipment for your yard duties at the lowest price we have tracked. You won’t find this bundle just anywhere, as even Amazon doesn’t have the same combination of tools, with the closest we can find being this combo with a less advanced blower and trimmer as well as three batteries for $550.

Winter is always a great time to invest in lawncare equipment, especially with such a massive price cut, and this 3-tool combo kit from Greenworks will have you stocked up for spring duties once it rolls back around. The lawn mower has been given an 80V brushless motor to tackle up to 1/2 acre of land on a single charge of the included 4.0Ah battery, with seven cutting height positions and a push button start. The 13-inch trimmer sports the brand’s dual bump feed head to more easily replace broken lines, with the battery providing enough juice for an 80-minute runtime on its low power setting. The leaf blower provides up to 730 CFM of airflow (reaching up to 170 MPH) with a variable speed trigger with cruise control for more effortless handling.

Best New Year e-bike deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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