Summary

Today’s edition is a mixed bag: though UBS urges investors to join renewables revolution, the UK will give a free lunch to its airlines by providing 6.6 million free carbon allowances. And while Chile prepares to introduce a carbon tax, Australia could withdraw subsidies for solar power as it reviews renewable energy targets. 

Quote of the day

“Power is no longer something that is exclusively produced by huge, centralised units owned by large utilities.”

The authors of a briefing paper sent to clients and investors this week by UBS, in the guardian.com’s story Big power out, solar in: UBS urges investors to join renewables revolution 

Lead stories 

Russia’s warming faster than the rest of the planet—and seeing disease, drought, and forest fires as a result
Gwynn Guilford, Quartz
When Vladimir Putin declined to support the Kyoto Protocol, a treaty to limit carbon emissions, he famously quipped that higher temperatures might actually benefit Russia since its people would have to spend less on fur coats.
http://jlne.ws/1pKfm9V

Big power out, solar in: UBS urges investors to join renewables revolution 
John Vidal, theguardian.com
Big power stations in Europe could be redundant within 10-20 years as electric cars, cheaper batteries and new solar technologies transform the way electricity is generated, stored and distributed, say analysts at the world’s largest private bank. 
http://jlne.ws/1tFoNII

Germany’s Expensive Gamble on Renewable Energy 
Matthew Karnitshnig, Wall Street Journal
In a sandy marsh on the outskirts of this medieval hamlet, Germany’s next autobahn will soon take shape.
http://jlne.ws/1oqpSxD

UK to give airlines 26.4 mln free CO2 permits for 2013-2016
Reuters
Britain will hand its airlines 6.6 million free carbon allowances a year to help reduce the cost of meeting their obligations under Europe’s Emissions Trading Scheme (ETS) from 2013-2016, the government said on Wednesday.
http://jlne.ws/VS3Xsi 
***LB: Also in this story “EasyJet is the largest recipient of free credits, with an allocation of 2.9 million allowances every year during the four year period, according to the data issued by Britain’s Department for Energy and Climate Change.”

(Australia’s) Renewable energy target review backs closure of scheme to new entrants
Lenore Taylor, the guardian.com
Investment in wind farms and other large scale renewables would dry up and subsidies for household solar power and electricity could cease under recommendations to the federal government from its review into the renewable energy target. 
http://jlne.ws/1qjq5XD

Chile prepares carbon tax legislation
BusinessGreen
The advance of climate legislation across Latin and South America is poised to take another major step forward, as Chile prepares to pass wide-ranging legislation that will introduce the country’s first carbon tax.
http://jlne.ws/1rBTUqd

Vulnerable Dem backs Obama on climate change move
Cameron Joseph, The Hill
Vulnerable Rep. Scott Peters (D-Calif.) says he agrees in principle with President Obama’s moves toward bypassing Congress and looking for an international climate change deal.
http://jlne.ws/1tYvZ0R

How Reid holds veto power over Obama
Darius Dixon, Politico 
Even in a hopelessly gridlocked Congress, Senate Majority Leader Harry Reid has found a way to work his will on energy policy — by micromanaging President Barack Obama’s appointments to two normally placid agencies.
http://jlne.ws/1pKiwKO

Events 

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
http://jlne.ws/1qaR5eE

FT European Gas Summit 
The FT European Gas Summit brings together leading and aspiring gas suppliers from around the globe, as well as energy industry experts, commentators and government decision makers to review the potential barriers to new gas supplies for Europe, and the impact on the region’s economic competitiveness. The summit will be chaired by Guy Chazan, Energy Editor, Financial Times. 
23 October 2014 
London, UK 
http://jlne.ws/1n34Gif 

Carbon

EPA appeals to minorities for climate rule
Timothy Cama, The Hill
The Environmental Protection Agency (EPA) is appealing to leaders in minority communities, saying they will see some of the biggest benefits from cutting carbon pollution from power plants.
http://jlne.ws/1C566SP

Tons of Emissions from Power Plants Are Already Locked In, Study Says
Joe Eaton, National Geographic
The world’s existing power plants are on track to pour more than 300 billion tons of carbon dioxide into the atmosphere, and current monitoring standards often fail to take these long-term emissions into account, according to new research from scientists at UC Irvine and Princeton University.
http://jlne.ws/YY15Mx

What Price Carbon? Industry’s Hand in Rise And Fall of Australia’s Climate Change Law 
Murray Griffin; Bloomberg
When Australia’s Prime Minister Tony Abbott last month steered through Parliament repeal of the country’s carbon pricing mechanism, he was cheered on by business associations representing major international and domestic companies. 
http://jlne.ws/1C54Q23

Natural gas / coal

Full extent of global coal ‘binge’ is hidden, say researchers
Matt McGrath, BBC News
The climate impacts of the world’s fossil-fuelled power plants are being underestimated because of poor accounting, say researchers.
http://jlne.ws/1vSDR5x 
***LB: Also in this story “At present, UN accounting procedures only include the emissions from coal and gas powered electricity generation in the year in which they occur.”

Fracking Foes Force Some Oil Drillers to Tread Lightly
Zain Shauk and Bradley Olson, Bloomberg Businessweek 
A fight over fracking is looming in Texas. Another stand-off is shaping up in Colorado. Yet drillers’ reactions couldn’t be more different.
http://jlne.ws/1lxEm4e

Power

IE-CHP secures funding boost for ‘mini power station’ vision
James Murray, BusinessGreen
A Scottish company specialising in the development of domestic combined heat and power (CHP) fuel cell technologies that promise to slash greenhouse gas emissions and energy bills has secured £800,000 of new funding from a group of big name backers, including energy giant SSE.
http://jlne.ws/1pKdXjK

Aviva Investors beefs up £76m domestic solar portfolio
BusinessGreen staff  
Aviva Investors has stepped up its interest in the domestic solar rooftop sector, announcing yesterday that it has acquired a second portfolio of residential solar projects from Zouk Capital.
http://jlne.ws/1lgQd6p

Clean tech

The new face of electricity – A cheap, reliable way to store energy could become a trillion dollar industry
Kristyn Martin, Al Jazeera America
When Elon Musk’s Tesla announced that it will start building lithium ion batteries to fuel its electric cars and signed a deal with Panasonic to build a $5 billion Gigafactory, it resonated in certain circles as the ultimate challenge.
http://jlne.ws/VS27rd

Water

Veolia First-Half Profit Surges on Water, Waste Improvement
Tara Patel, Bloomberg Businessweek 
Veolia Environnement SA, Europe’s biggest water company, reported a surge in first-half profit after an improvement in water and waste operations countered a decline in demand for energy services.
http://jlne.ws/1q7jC3d

Miscellaneous

Driven By Climate Change, Cotton Buyers Look For Alternatives
Yuki Noguchi, NPR
VF Corp. is one of the biggest clothing companies you might not have heard of. But its brands include Lee and Wrangler jeans, Timberland shoes and The North Face, and it also makes uniforms for police and major league sports teams.
http://jlne.ws/1qLJM7O

Will Iconic Sequoias Fall to Climate Change?
Becky Oskin, Live Science
California’s iconic trees, the giant sequoias, may sail through the state’s current extreme drought.
http://jlne.ws/1pKfF4E

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