In today’s edition, the momentum is building to reverse climate change, after the unveiling of the EPA new rules. Pressure is also building on some countries like Australia, still reluctant to act. In any case, at yesterday’s G7 meeting in Brussels or at the UN, nations seem more and more aware of the fact that renewable energy is the way to go. Indeed, doubling green energy would save the world billions of dollars in costs associated with fossil fuel pollution.
Quote of the day
“The transition is affordable based on existing technologies, and the benefits go well beyond the positive climate impact.”
Adnan Z Amin, director-general of the International Renewable Energy Agency (IRENA), at the launch of its report in New York, in the BusinessGreen’s story Doubling global green energy could save $740bn a year
Obama touts EPA rule abroad
Timothy Cama, The Hill
Global Climate Leader: Obama told his Group of Seven colleagues all about the Environmental Protection Agency’s (EPA) proposal to limit carbon emissions from power plants Thursday at the G-7 meeting in Brussels and said the United States is taking the lead globally on fighting climate change.
Republicans Can’t Block EPA’s Greenhouse Gas Rules: Hoyer
Derek Wallbank, Bloomberg
Democrats in Congress will be able to keep Republicans from overturning the Obama administration’s rules to lower greenhouse-gas emissions, said second-ranking House Democrat Steny Hoyer.
Doubling global green energy could save $740bn a year
Doubling green energy to meet 36 per cent of global energy demand by 2030 would save the world $740bn a year in costs associated with fossil fuel pollution, according to new research.
***LB: Also in this story “The report launched by the International Renewable Energy Agency (IRENA) says such a goal is not only possible and affordable but will also keep the world on track to limit global temperature increase to 2ºC above pre-industrial levels by 2100.”
India, China take an early lead at UN climate talks in Germany
Nitin Sethi, Business Standard
Breaking from the past, the Like-Minded Developing Countries (LMDC), which includes India and China, presented the first draft for negotiating the 2015 global climate treaty, grabbing the early mover’s advantage at the UN climate talks that began in Bonn, Germany on Wednesday.
***LB: Also in this story “The LMDC group, which also has Malaysia, Argentina, Egypt, Sri Lanka, Venezuela, Philippines and Saudi Arabia, beside India and China, has become an influential force in the UN climate talks over three years.”
Canada poised to dilute EU rules over tar sands oil
Christian Oliver and Ed Crooks, Financial Times
Canada looks set to win a big concession in forthcoming EU environment legislation that would open the European market for fuel derived from the oil sands of Alberta.
***LB: Also in this story “The new EU regulations as originally drafted would have made it very difficult to sell either crude oil from the tar sands or fuels made from that crude in Europe.”
Canada Launches World’s First Waste-to-Biofuels and Chemicals Facility
Esther Tanquintic-Misa, International Business Times
Owned by Quebec company Enerkem, the new plant will convert trash diverted from the city’s landfill into biofuels and chemicals.
Climate change “off the G20 agenda” as Australia prepares to abolish carbon price
Alex White, theguardian.com (Blog)
In the week that US president Obama announced major new carbon pollution regulations and China announced it would introduce a cap on carbon emissions by the end of the decade, climate change-denying Australia prime minister Tony Abbott has taken climate change of the G20 agenda.
The US carbon trading schemes that Australia’s prime minister cannot see
Tony Abbott might be in for a bit of a surprise when he takes a business delegation to New York as part of his current overseas trip.
***LB: Also in this story “Describing the US actions as “sensible” and in line with his own, Abbott then inserted his customary attack on any market-based mechanism to put a price on greenhouse gas emissions.”
Markey offers bill to boost Ukrainian energy independence from Russia
Cristina Marcos, The Hill
Sen. Ed Markey (D-Mass.) on Thursday introduced a bill that would offer Ukraine assistance in increasing its domestic energy production so that it can rely less on Russia for natural gas.
UN: Sea-level rise could cost global economy trillions
The likely financial cost of rising sea levels and temperatures to the global economy could rise to trillions of dollars, a UN Environment Programme (UNEP) study has found.
Kenya among top renewable energy investors
Macharia Kamau, Standard Digital News
Kenya is the second largest investor in renewable energy in Africa. It is, however, a distant second, with the investment value standing at a modest Sh21 billion ($249m) last year compared to South Africa.
EMA’s 18th Annual Meeting
Join the Environmental Markets Association and environmental industry professional for two days of dynamic sessions, two nights of networking receptions, and countless opportunities to increase your business contacts.
October 22 – 24, 2014
Santa Monica, CA
Environmental Bonds 2014
Now in its 4th year, Environmental Finance’s Environmental Bonds conference will examine the challenges facing the environmental bond market as it matures and the opportunities available for investors, issuers, bankers, corporates and others.
23 June 2014
Brazil Leads World in Reducing Carbon Emissions by Slashing Deforestation
Brian Clark Howard, National Geographic
Brazil’s success in slowing rain forest destruction has resulted in enormous reductions in carbon emissions and shows that it’s possible to zealously promote sustainability while still growing the economy, suggests a new study out Thursday.
California investigating validity of 4.3 mln carbon offset credits
Rory Carroll, Reuters
California is reviewing half of the offset credits it has issued for its carbon market while regulators investigate whether wrongdoing at an incineration facility in Arkansas rendered those credits out of compliance with the cap and trade program’s rules.
Mexican forest communities seek business benefit from climate laws
Talli Nauman, Thomson Reuters Foundation
In the mountain birthplace of Latin America’s venerated 19th century indigenous reformer and Mexico’s 26th president, Benito Juárez, Zapotec communities like his are distinguishing themselves with award-winning, world-class forestry projects regarded as vital for climate stability.
Natural Gas / Coal
Could these 3 coal companies make you rich?
Claude Walker, The Motley Fool
Coal companies like Whitehaven Coal, New Hope Corporation Limited, and Yancoal Australia Ltd are squirming. Their depressed values might look attractive to investors who believe the current low coal prices are merely cyclical, but is it time to buy.
China City Crash-Lands to Zero Growth on Coal Bust
Economic growth in the northern Chinese city of Taiyuan, Shanxi province, has crashed to zero from 12 percent in one year. Yan Xiaofeng’s coal-equipment business has gone down with it.
Obama inconsistent on natural gas, industry says
Timothy Cama, The Hill
The Obama administration is inconsistent in its policies on natural gas, encouraging its use while moving to clamp down on it through regulations, the country’s top oil and gas lobbyist said.
13 reasons why slashing solar incentives is dumb politics
John Grimes, RE new economy
For a politician, slashing support to the solar industry through the Renewable Energy Target (RET) review is really dumb politics. In fact, it is so dumb it may result in one more job loss – their own.
Brazil Considers Sun the New Wind as It Banks on Solar for Power
Mario Sergio Lima and Vanessa Dezem, Bloomberg
Brazil is banking that a drop in prices and interest from foreign companies will boost the amount of energy it’s able to generate from the sun, the nation’s deputy energy minister said.
Marine power industry ready to ride in giant sea simulator
Jessica Shankleman, BusinessGreen
Edinburgh University has cut the ribbon on an innovative new water tank that will allow wave, wind and tidal power devices to be tested in virtually real world conditions.
Wind industry highlights huge local supplier opportunities
A guide to help small businesses win contracts to plan, build, maintain or supply onshore wind farms has been published by RenewableUK.
Energy storage: The hot new thing in Silicon Valley
Dana Hull, San Jose Mercury News
First, Randy Ross bought a Chevy Volt. Faced with the need to charge his car and eager to cut his utility bill, he installed solar panels on the roof of his Pleasanton home.
Atlanta’s Incentives Lift Electric Car Sales
Mike Ramsey, Wall Street Journal
Atlanta has become a surprise success for electric car makers and the reasons—state subsidies and unfettered access to carpool lanes—offer a telling lesson in what it takes to lift demand for the vehicles.
***LB: Also in this story “Atlanta’s emergence as the No. 2 metropolitan market in the U.S. after San Francisco for electric-vehicle sales, according to researcher IHS Automotive, illustrates how public subsidies remain key to luring buyers away from gasoline-powered vehicles, and the extent to which employers and friends can influence plug-in car sales.”
Hydrogen Fuel Finally Graduating From Lab to City Streets
Christopher Martin, Bloomberg
Once relegated to the realm of science projects, hydrogen fuel cells are starting to displace fossil fuels as a means of powering cars, homes and businesses.
Venezuela Sacrifices Drinking Water to Pay Bondholders
Corina Pons and Nathan Crooks, Bloomberg
At a time when Venezuela’s record $25 billion in arrears to importers has its citizens waiting hours in line to buy drinking water and crossing borders in search of medicine, President Nicolas Maduro is using the nation’s dwindling supply of dollars to enrich bondholders.
California’s drought breaks records
Lia Cattaneo, (C2ES) Center for Climate and Energy Solutions
In California, it’s almost impossible to avoid hearing about the drought. Restaurants serve water only upon request, “Save Our Water” radio ads run daily, and the issue headlines news broadcasts.
El Niño 70% likely to arrive in summer, says US weather forecaster
Suzanne Goldenberg, theguardian.com
The chances of an El Niño, the global climate phenomenon that can destroy crops in Asia and offer a relief from harsh winters in North America, were raised to 70% on Thursday. But scientists said the coming El Niño was likely to be of only moderate strength.
Billionaire sets up fund for victims of climate change
Bob Egelko, San Francisco Chronicle
Billionaire Tom Steyer, the leading financial underwriter of campaigns to combat climate change, says he is putting up $2 million to start a fund for victims of wildfires and other “extreme weather events.”
Intact Amazon forests show possible signs of global warming impact
Climate change may be taking a hidden toll on intact rainforests in the heart of the Amazon, finds a new study based on 35 years of observations.
***LB: Also in this story “shifts, which included faster growth and death rates of trees, increased biomass accumulation, and proliferation in vines, may be linked to rising carbon dioxide concentrations in the atmosphere”
Where has global warming baked the most in US since 1984? Maine, Vermont, New Mexico, Texas
Seth Borenstein, AP
The United States is warming fastest at two of its corners, in the Northeast and the Southwest, an analysis of federal temperature records shows.
Energy makes prime target in cyber threat against infrastructure
Neil Munshi, Financial Times
In May, the US Department of Homeland Security revealed that the industrial control system of a public utility had been hacked by a “sophisticated threat actor”.