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A new report by the Overseas Development Institute and Oil Change International has found that governments are still spending a whopping $88 billion every year supporting fossil fuel exploration.

A graphic published today by Oil Change International shows the carbon left in the ground in cancelled tar sands projects and the potential impact of continued action to stop tar sands pipelines.

The "clock is ticking". "Little time left". The "Starkest Warning Yet". The "Final Warning". Just four of the headlines from around the world of yesterday's UN report on climate change.

The tar sands campaign is also poised to have a very real and measurable impact on carbon pollution as well as the tar sands industry’s bottom line.

Slowly but surely the world’s banks are waking up to the dangers of climate change and the idea that carrying on investing in fossil fuels might be a risky and reckless idea.

The oil industry and its allies are used to dismissing those who are warning about climate change as a bunch of lentil-eating, sandal-wearing commies. But over the last few months we have seen a growing number of authoritative voices calling for fossil fuel disinvestment, with a growing number of institutional investors actually saying they will disinvest from fossil fuels.

A proposal to label the dirty tar sands as more polluting than conventional oil has been spectacularly abandoned by the European Commission after a four year lobbying campaign by the Canadians.

Later today, the Spanish nomination for the new EU Energy and Climate Commissioner, Miguel Arias Cañete, will answer questions from Members of the European Parliament (MEPs) about taking up his new influential role.

The actor Leonardo DiCaprio was one of a number of people to address the United Nations Climate Summit yesterday, urging them to take action to address "the greatest challenge of our existence on this planet."