In today’s edition, follow the money! Where is it going? Into renewable energy lending and investments. Indeed, that’s where the largest U.S. banking institutions are putting big money these days. Also, today, a top EU court adviser will decide whether the European Commission’s initiative to give free carbon allowances is legal. Talking about carbon pricing, Washington state may become the first one in the US to tax carbon, thanks to an initiative launched by Yoram Bauman, who founded the grassroots carbon tax campaign Carbon Washington.
Quote of the day
“I think it’s a relatively new idea for a lot of people. When you talk about climate change, they think they’re going to have to spend money on solar panels or stuff like that.”
Environmental economist and stand-up comedian Yoram Bauman, who founded the grassroots carbon tax campaign Carbon Washington, in the Washington Post’s story These could be the first U.S. states to tax carbon — and give their residents a nice paycheck (in the Carbon section)
Banks shift billions and billions into clean energy
By Barbara Grady – Greenbiz
Follow the money, the advice goes, because the trail indicates where the future is headed.
***LB: Also in this story “The largest U.S. finance and banking companies lately are putting big money into renewable energy lending and investments — as highlighted by a Goldman Sachs announcement last week that it aims to triple its allocations to clean energy finance to $150 billion over the next 10 years. ”
Safe haven elusive for Africans fleeing conflict, climate stress
By Manipadma Jena – Reuters
The growing flow of migrants into drought-prone Niger, whose own population often struggles with hunger, raises tough questions about why people are moving from one risky place to another and how to head off related tensions, experts say.
Greenhouse Pollution Per Person Falls for Many Major Economies
By Alister Doyle – Reuters
Greenhouse gas emissions per capita are falling in 11 of the Group of 20 major economies, a turning point for tackling climate change, a study showed on Tuesday.
Top EU court set for view on legality of free carbon permit rules
By Barbara Lewis – Reuters
A top EU court adviser will on Thursday deliver an opinion on whether the European Commission’s calculations to decide free carbon allowances are legal, in a case brought by refiners OMV, Esso Italiana and big chemical firms.
2015 Rising Seas Summit
Association of Climate Change Officers
November 12-13, 2015, Cambridge, MA
Call For Nominations: Environmental Markets Association
The Environmental Markets Association is calling for nominations for two (2) openings on the Board of Directors for 2015/2016.
If you are interested in running or would like to nominate someone, please call the EMA Headquarters at 202-591-2465
or email firstname.lastname@example.org
These could be the first U.S. states to tax carbon — and give their residents a nice paycheck
By Chelsea Harvey – The Washington Post
In Washington state, a circulating petition might be the key to both permanently cutting down on the state’s carbon footprint and also reforming what is widely considered one of the nation’s most regressive tax systems.
Natural gas / coal
Coal from Carmichael mine ‘will create more annual emissions than New York’
By Lenore Taylor – The Guardian
Coal from Adani’s proposed $16bn Carmichael project will create annual emissions similar to those from countries like Malaysia and Austria and more than New York City, according to calculations designed to highlight the scale of the mine’s environmental impacts.
Coal ‘isn’t going anywhere,’ industry head says
By Timothy Cama – The Hill
The head of the coal industry’s international association said coal will remain a significant fuel source, despite predictions otherwise.
Surviving U.S. Power Plants Will Help Keep Coal Demand Steady
By Mario Parker – Bloomberg News
If you thought that a record loss of U.S. coal-fired power generation means less of the climate-changing fuel will be burned, think again.
As coal use fades, renewables take center stage
By Cathaleen Chen – Christian Science Monitor
As 2016 approaches, renewable energy is steadily emerging as a major player in the energy market. Meanwhile, coal is seeing a drastic fall in use around the world.
China Oct coal output down 1.2 pct on yr at 317 mln T -stats bureau
China produced 317 million tonnes of coal in October, down 1.2 percent from the same month last year, National Bureau of Statistics data showed on Wednesday, with struggling miners cutting output to minimise losses.
China Oct natural gas production rises 1.4 pct – stats bureau
China’s production of natural gas rose just 1.4 percent in October from a year earlier to 10.4 billion cubic metres (bcm), official data showed on Wednesday, as worries about the broader economy slow the pace of demand growth for gas.
EON Posts Record Loss Amid Billions in Power Unit Writedowns
By Tino Andresen – Bloomberg News
EON SE posted its biggest quarterly net loss as Germany’s largest utility wrote down the value of power generation assets by billions of euros amid a plunge in wholesale power prices and a bleak future for fossil fuels.
Power Struggle: How the Energy Market Could Shift in 2016
Bloomberg News (Video)
The price of oil is likely to dominate headlines in 2016 just as it did in 2015, but as our reliance on oil starts to shrink, the energy picture is getting more interesting.
Germany’s Nordex Raises 2015 Sales Outlook as Wind Orders Surge
By Brian Parkin – Bloomberg News
Germany’s biggest wind turbine maker Nordex SE raised its 2015 sales forecast for the second time this year after orders for onshore projects surged in the third quarter, led by Europe and South Africa.
Johannesburg Water Begins Pumping After Some Suburbs Run Dry
By Kevin Crowley – Bloomberg News
Johannesburg’s municipality has started refilling two reservoirs in the center of South Africa’s biggest city after they ran dry and left thousands of people with no water.
Southern California water agency moves to buy river delta islands
By Steve Gorman and Sharon Bernstein – Reuters
Southern California’s biggest drinking water supplier will seek an option to buy 20,000 acres of river delta farmland east of San Francisco, a deal that could benefit a controversial tunnel project to carry Northern California water southward, the agency said on Tuesday.