In today’s edition, Nestlé suggests a simple solution for water: make users pay to give them an incentive to conserve. And in the Carbon section, an Australian senator also has a suggestion: penalize companies failing to meet carbon emission targets and give firms access to the international carbon market.
Quote of the day
“You have to change the scale. For rare resources, the economy of scale is the biggest mistake you can have. The less you use, the less you should be paying. This would be a very simple thing.”
Peter Brabeck-Letmathe, chairman of Nestlé SA, the maker of Perrier bottled water, in the Bloomberg News’ story Big Water Users Should Pay Higher Price: Nestlé Chairman
Big Water Users Should Pay Higher Price: Nestlé Chairman
Corinne Gretler, Bloomberg News
People who use more water should pay more for it, according to Peter Brabeck-Letmathe, chairman of Nestlé SA, the maker of Perrier bottled water.
EU raids ethanol groups in energy price fixing probe
Alex Barker, Financial Times
Brussels has stepped up its probe into price fixing in energy markets, raiding several companies in two European countries involved in producing and trading the biofuel ethanol.
***LB: Also in this story “The action follows raids in May 2014 on the offices of Platts, a commodity price reporter, and the oil majors BP, Shell and Statoil, seeking evidence of price manipulation. The Commission did not identify the companies it raided on Tuesday.”
Juncker blow as EU Parliament votes out Bratusek
Megan Darby, RTCC (Responding to Climate Change)
European lawmakers last night voted overwhelmingly to reject Alenka Bratusek as vice president of the “energy union”.
***LB: Also in this story “The former Slovenia prime minister was ousted by 112 votes to 13, after failing to impress at a parliamentary hearing on Monday.”
EIB issues first USD Climate Awareness (green) bond, and it’s another big one: $1bn, 10yr, 2.5% coupon
Sean Kidney, Intiative Climate Bonds
Following the continued success of their EUR “Climate Awareness Bonds”, EIB has now issued a USD green bond. The US $1bn bond has a maturity of 10 years – they’re pushing terms out with this and their EUR 12 year bond – and a 2.5% interest rate.
Confidence in UK’s energy efficiency market gathers pace
Jessica Shankleman, BusinessGreen
The UK’s domestic energy efficiency market may be struggling to cope with fluctuating government policies and subsidy cutbacks, but a new report today reveals a very different scenario for those working with offices, schools and universities.
Ikea kitchens help sell insulation to Dutch – and UK could be next
Arthur Neslen, The Guardian
More than 100,000 homes across the UK could be given a carbon-neutral retrofit by 2020 if the EU approves funding for a ground-breaking green social housing project this month.
China pollution levels hit 20 times safe levels
Days of heavy smog shrouding swathes of northern China pushed pollution to more than 20 times safe levels on Friday, despite government promises to tackle environmental blight.
UN sets six month deadline for delivery of draft climate agreement
Ed King, RTCC (Responding to Climate Change)
Countries have less than six months left to agree on the rough outline of a global climate change agreement, according to the two UN officials coordinating the process.
EPA chief apologizes for her generation’s role in climate change
Timothy Cama, The Hill
Environmental Protection Agency (EPA) head Gina McCarthy apologized on behalf of her generation Thursday for not acting to stop climate change.
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
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
Lawmaker proposes carbon trading to tackle climate change in Australia
An Australian senator released on Wednesday a proposal to penalise companies failing to meet carbon emission targets and give firms access to the international carbon market, in a move to try and break a deadlock in the country’s climate policy.
Brazil unlikely to sustain gains in reducing deforestation without new incentives for ranchers, says study
Rhett A. Butler, mongabay.com
Cattle ranchers that drive the vast majority of forest clearing in the Brazilian Amazon are unlikely to be held at bay indefinitely unless they are afforded new incentives for keeping trees standing, argues new analysis published by an economic research group.
California Moves to Revoke Carbon Credits After Inquiry
Lynn Doan, Bloomberg News
California, operator of the nation’s biggest carbon market, plans to revoke offset credits issued to EOS Climate Inc. and Environmental Credit Corp. for ozone-depleting substances destroyed at a plant in violation of its federal permit.
Money alone not enough to sustain environmental payment schemes, study finds
On paper, it is a simple premise: Improve environmental management by financially rewarding the people responsible for conservation.
***LB: Also in this story “This concept, known as payment for ecosystem services (PES, for short), has won many supporters among policymakers desperate to achieve tangible ecological benefits with tight budgets.”
Satellite data shows surprising methane hotspot in US southwest
A surprising hotspot of the potent global warming gas methane hovers over part of the southwestern US, according to satellite data and is likely to be leakage from pumping methane out of coal mines.
Natural gas / coal
Gas-Driven Growth Powers Morales Re-Election Bid in Bolivia Vote
Matt Craze and John Quigley, Bloomberg News
Bolivian President Evo Morales is favored to win re-election this weekend after delivering eight years of uninterrupted growth following the nationalization of gas fields in 2006.
China Coal Tariffs Add to Pressure on Producers in Australia
James Paton, Bloomberg News
China, the world’s biggest coal consumer, is piling on the pain for Australian producers by ratcheting up import barriers.
Frackers’ Reports on Oil Reserves Differ for Investors and Regulators
Asjylyn Loder and Isaac Arnsdorf, Bloomberg News
Lee Tillman, chief executive officer of Marathon Oil, told investors last month that the company was sitting atop the equivalent of 4.3 billion barrels of oil in its U.S. shale acreage. That’s 5.5 times higher than the number Marathon reported to federal regulators.
Brian Dumaine, Fortune
Lyndon Rive thinks solar power can overtake fossil fuels, one rooftop at a time. Some say Solar City’s CEO is dreaming—but that’s what they said about his cousin Elon Musk.
Iberdrola advances 1m euros floating wind turbine project
ScottishPower owner Iberdrola has teamed up with a Scottish university to design a state-of-the-art floating wind turbine that could allow developers to produce electricity from marine areas where the water is too deep to install wind turbines.
UK invests £11m to get hydrogen cars on the road
Will Nichols, BusinessGreen
The launch of a new £11m fund is designed to accelerate the arrival of hydrogen cars on UK roads by financing public sector fleet purchases and rolling out a refuelling network.
Tesla unveils faster, all-wheel-drive version of its Model S sedan
Associated Press and Bloomberg News
Tesla Motors unveiled a faster, all-wheel-drive version of its Model S sedan Thursday along with some new safety features.
***LB: Also in this story “The all-wheel-drive version will have a top speed of 155 miles per hour, compared with 130 mph for the current version. It will also accelerate faster.”
Jerry Brown, Smart and Prepared, Responds to California’s Drought Emergency
Brett Walton, Circle of Blue
Three straight years of desperately dry conditions in California are igniting hills in walls of towering orange flames, turning reservoirs to sandpits, and causing residents across America’s most populous state to clamor for water.
Farms, Businesses Compete for India’s Groundwater
Circle of Blue
The overuse of groundwater in India is creating tensions between farmers and businesses, adding to the urgency of developing a better management system.
***LB: Also in this story “For example, farmers in Uttar Pradesh say that a nearby Coca Cola plant has drawn down groundwater reserves so far that they are repeatedly forced to dig new wells.”
Fixing Water By Fixing Land: What Works And What Doesn’t
Kelli Barrett, Ecosystem Marketplace
Taking a watershed approach means strategically identifying and directing wetland and stream restoration and protection projects to best meet the needs of the watershed.
Sporting groups back Obama climate rule
Laura Barron-Lopez, The HIll
Sporting groups spoke out Thursday in support of President Obama’s carbon pollution rules for existing power plants, calling for more action on climate change.
Great Barrier Reef: ‘a massive chemistry experiment gone wrong’
James Woodford, theguardian.com
It has long been known that pollution is having a devastating impact on the Great Barrier Reef but now scientists are warning that it may also be dramatically increasing the rate of ocean acidification in inshore areas of the region.
Can Africa feed itself in spite of climate change?
Sophie Yeo, RTCC (Responding to Climate Change)
Despite possessing 60% of the world’s uncultivated arable land, Africa still imports around $40-50 billion in agricultural products annually.
Few U.S. states preparing for climate change, study says
Neela Banerjee, Los Angeles Times
Fewer than half of American states are working to protect themselves from climate change, despite more detailed warnings from scientists that communities are already being damaged, according to a new online clearinghouse of states’ efforts compiled by the Georgetown Climate Center.