In today’s edition, an interesting development: This year, 437 companies are calculating an internal price on carbon, up sharply from 150 last year, according to a new report. As a result, Microsoft business units are charged an internal tax by Microsoft based on their energy usage. Also, China makes a landmark commitment to start a national program in 2017 that will limit and put a price on greenhouse gas emissions. And finally, Brazil pledges to cut carbon emissions 37% by 2025.
Quote of the day
“If this many companies are pricing carbon internally, they know that climate change is a business risk.”
Paula DiPerna, a special adviser to CDP, a nonprofit group that monitors carbon disclosures for companies, in the New York Times’ story Microsoft Leads Movement to Offset Emissions With Internal Carbon Tax
All-blue skies in Paris as city centre goes car-free for first time
By Angelique Chrisafis – The Guardian
The lack of sound on the Champs Elysées was striking.
Microsoft Leads Movement to Offset Emissions With Internal Carbon Tax
By David Gelles – The New York Times
When Microsoft business unit managers calculate their profits or losses each quarter, they consider more than just sales and expenses. They also factor in the price of carbon.
***LB : Also in this story “Even more radically, the business units are charged an internal tax by Microsoft based on their energy usage. The money goes into a common fund that invests in environmental sustainability projects. The company’s program is at the forefront of a fast-growing effort called carbon pricing. This year, 437 companies are calculating an internal price on carbon, up sharply from 150 last year, according to a new report by CDP, a nonprofit group that monitors carbon disclosures for companies.”
China to Announce Cap-and-Trade Program to Limit Emissions
By Julie Hirschfield and Coral Davenport – The New York Times
President Xi Jinping of China will make a landmark commitment on Friday to start a national program in 2017 that will limit and put a price on greenhouse gas emissions, Obama administration officials said Thursday.
What Can China Achieve with Cap-and-Trade?
By Elizabeth Kolbert – The New Yorker
It was hard to avoid the irony. The leader of China—nominally, at least, a Communist country—came to Washington and announced that his government was adopting a market-based approach to curbing carbon emissions.
Touting deal with China, Obama raises pressure for UN climate pact
By Devin Henry – The Hill
President Obama and China’s President Xi Jinping said Friday that they are committed to reaching an international agreement on climate change later this year.
Rousseff Pledges to Cut Brazil’s Carbon Emissions 37% by 2025
By Anna Edgerton and Vanessa Dezem – Bloomberg News
Brazil will cut its contribution to climate change by reducing carbon emissions 37 percent by 2025 compared to 2005, President Dilma Rousseff announced, just days before a deadline for countries participating in December’s global climate summit in Paris.
Clinton explains shift on Keystone, other key issues
By Jonathan Easley – The Hill
Hillary Clinton on Sunday pointed to the nation’s shifting energy profile for her opposition to the Keystone XL pipeline after she had initially seemed to voice support for its construction.
U.S. climate finance in limbo, risking ‘trust gap’ before Paris
By Valerie Volcovici – Reuters
A looming federal budget confrontation and Republican hostility to UN global-warming talks threaten a U.S. down payment into a key climate-aid fund, money considered vital to a climate deal in Paris this December.
UK to spend £5.8bn on tackling climate change in poor countries
By Rowena Mason – The Guardian
Almost £6bn of the UK’s foreign aid budget will be spent on tackling climate change in poor countries over the next five years, David Cameron has said, as Britain steps up its contributions by 50% to help meet international targets.
Why an oil guy believes solar has a big future
By Scott Nyquist – Fortune
Fossil fuels are here to stay, but solar energy will play a bigger role in our energy mix than many think.
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2015 Rising Seas Summit
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November 12-13, 2015, Cambridge, MA
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California Board Backs New Limits on Carbon From Gas and Diesel
By Ian Lovett – The New York Times
California air regulators on Friday approved a substantial cut to carbon pollution from gasoline and diesel fuels, a move that will force oil producers to reduce the amount of carbon generated by all transportation fuels in the state at least 10 percent by 2020.
VW urged to come clean over which UK diesel vehicles are affected
By Julia Kollewe – The Guardian
Lawyers for UK drivers have urged Volkswagen to “come clean” over exactly which cars have been affected in Britain by the emissions-rigging scandal that has rocked the global car industry.
Compensating Car Owners Will Be Big Test for Volkswagen
By Barry Meier – The New York Times
When Steve Berman, a plaintiffs’ lawyer in Seattle, heard about the Volkswagen scandal, he quickly posted a video on YouTube urging vehicle owners to contact him.
HSBC asset management arm to disclose carbon footprint of funds
The fund arm of HSBC, Britain’s biggest bank, has agreed to measure and disclose the carbon footprint of its funds on an annual basis after signing up to the Montreal Carbon Pledge.
Natural gas / coal
Divestment efforts starting to hit coal and oil firms
By Shawn McCarthy – The Globe and Mail
Pension funds and other institutional investors are growing wary of an increasing “carbon risk” faced by coal and oil companies which confront a divestment movement that has gone mainstream and an uncertain future of climate-related regulations.
Russia, Ukraine Reach Deal on Gas Supplies in EU-Brokered Talks
By Ewa Krukowska, Elena Mazneva and Volodymyr Verbyany – Bloomberg News
Ukraine reached a deal with Russia to ensure it will get natural gas supplies in the winter season through March and avoid the risk of disruptions in transit to the European Union.
Ivory Coast’s power generation leaves neighbours in the shade
By James Wilson – Financial Times
Ghana suffered an agonising penalty shootout loss to Ivory Coast in this year’s Africa Cup of Nations football, but distraught fans had their neighbours to thank for seeing their team at all.
Oil’s Killing U.S. Power Generators, And They Don’t Even Burn It
By Mark Chediak and Naureen Malik – Bloomberg News
The slide in global oil prices helped send shares of America’s power generators to their worst weekly decline in more than six years. And they don’t even burn the stuff.
China’s Solar Power Analysts Can’t Agree Why Shares Are Plunging
China’s solar companies are plunging on stock markets, and analysts can’t agree why.
***LB: Also in this story “Since peaking in May, the NYSE Bloomberg Global Solar Energy Index of 127 companies has plunged 47 percent, more than quadruple the pace of the MSCI World Index. Yet panel makers anticipate record installations this year and have mostly recovered from a plunge in prices that slashed margins at the beginning of the decade.”
Tesla Battery Push Spurs ENRC Owner to Target Cobalt Mining
By Yuliya Fedorinova – Bloomberg News
Eurasian Resources Group S.a.r.l. plans to use a $2.2 billion project in the Democratic Republic of Congo to become the world’s top cobalt producer and tap growing demand for batteries from companies including Tesla Motors Inc.
The California drought is killing almond trees, too
By Ana Sofia Knauf – Grist
Salted almonds are essentially God’s gift to snack food, salads, and ice cream. But when it comes to growing almonds, salt can really screw things up. Unfortunately for California’s almond orchards, salty groundwater has become a huge problem and it’s killing trees across the state. That’s right: We’re talking about almonds and California again, folks, but bear with us.