In today’s edition, it all boils down to money! Not only do super funds with $1 trillion in assets push for action on climate, but also (in the Natural gas / coal section) Citigroup will reduce coal financing, while ANZ says it ‘will not finance’ dirty coal plants and Greenpeace says it is exploring funding options to buy Vattenfall AB’s lignite operations in Germany as it seeks to shut the power plants and prevent others from starting new coal mines. Finally, all nations should agree to toughen curbs on greenhouse gas emissions every five years under a U.N. accord to combat global warming due in December, according to a first suggested text of a U.N. agreement.
Quote of the day
“Gas is a fossil fuel, yes, but a crucial one for the building of a low-carbon future.”
Ben van Beurden, chief executive of oil firm Royal Dutch Shell PLC, in the Market Watch’s story Shell CEO to call for effective carbon pricing
Shell CEO to call for effective carbon pricing
By Sarah Kent – Market Watch
The chief executive of oil firm Royal Dutch Shell PLC will tell a gathering of industry executives Tuesday that the world must find economic ways to reduce its dependence on the most polluting fossil fuels, calling on governments to institute an effective system for pricing carbon.
Business should be backing renewables – fossil fuels don’t make economic sense
By Jeremy Leggett – The Guardian
The Conservative leadership once advocated powering 21st-century Britain with a green industrial revolution based on the smart, internet-linked, decentralised technologies being invested in by Silicon Valley, China, and others.
Toughen climate action every five years, U.N. draft suggests
By Alister Doyle – Reuters
All nations should agree to toughen curbs on greenhouse gas emissions every five years under a U.N. accord to combat global warming due in December, according to a first suggested text of a U.N. agreement on Monday.
South Africa climate plans ‘inadequate’
By Sipho Kings – Mail & Guardian
South Africa’s plans to lower carbon emissions will still see these increase by 80% over 1990 levels, according to research by Climate Action Tracker.
***LB: Also in this story “South Africa currently emits over half a billion tonnes of greenhouse gases into the atmosphere every year. The emissions make it the 12th highest emitter per person in the world.”
What India’s climate promise means
By Ragini Bhuyan and Tadit Kundu – live mint
On 2 October, India promised to reduce the emission intensity of its gross domestic product (GDP) by about a third from 2005 levels by the year 2030. That doesn’t mean overall emissions will come down, but that the rise will be at a slower pace, as the charts below show.
Super funds with $1 trillion in assets push for action on climate
By Sally Rose – Sydney Morning Herald
Big companies face increasing pressure from superannuation funds to provide detailed modelling of the risks to their business posed by carbon pricing or temperature rises.
***LB: Also in this story “BHP Billiton is at the forefront of the trend for companies to respond with more sophisticated climate change risk reporting. Now the heat is on for smaller resource companies to follow suit, ahead of the trend spreading to less-exposed sectors.”
The Republican Party stands alone in climate denial
By Dana Nuccitelli – The Guardian
A paper published in the journal Politics and Policy by Sondre Båtstrand at the University of Bergen in Norway compared the climate positions of conservative political parties around the world.
19th Annual Environmental Markets Association Meeting
October 28-30, 2015
EMA Annual Meeting
October 28-30, 2015
Omni Parker House Hotel
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
Boston rolls up its sleeves for action on climate change
By Martin J. Walsh and Amos B. Hostetter Jr. – Boston Globe
Boston has long been a leader on climate action — and ahead of the United Nations’ climate talks later this year, we’re gearing up to advance that role further.
Green energy, not nuclear the way to go: German official
By Peroshni govender – Reuters
Green energy is cheap in the long run and clean compared to “dirty” coal and costly nuclear power, a senior German energy official said on the sidelines of a Cape Town conference, at a time when South Africa plans to expand atomic power generation.
Natural gas / coal
Coal, Which Built a Chinese City, Now Threatens to Bury It
By Yigu Dong – the New York Times
The descent into the pit was steep, and the car skidded down a bumpy serpentine road.
Citigroup, Citing Climate Change, Will Reduce Coal Financing
By Alex Nussbaum – Bloomberg News
Citigroup Inc., the third-biggest U.S. bank, said it will cut back on financing for coal mining projects, in the latest blow to the industry that’s viewed as a key contributor to global warming.
ANZ ‘will not finance’ dirty coal plants and pledges $10bn for clean energy
By Oliver Milman – The Guardian
ANZ bank has pledged not to finance traditional coalmining projects and to provide at least $10bn in funding for renewable energy, reforestation and energy efficiency.
***LB: Also in this story “The bank has ruled out funding “conventional coal-fired power plants” that do not use commercially proven technologies that significantly reduce carbon dioxide emissions below 800 kilograms per megawatt hour.”
Greenpeace Says Can Find Cash to Buy Vattenfall Coal Assets
By Niklas Magnusson, Jesper Starn and Tino Andresen – Bloomberg News
Greenpeace is exploring funding options to buy Vattenfall AB’s lignite operations in Germany as it seeks to shut the power plants and prevent others from starting new coal mines.
Creator of 5-hour Energy Wants to Power the World’s Homes—With Bikes
By Wendy Koch – National Geographic
The man who created the 5-hour Energy drink says he has more money than he needs—about $4 billion more. So he’s giving it away, spending his fortune on a quest to fix the world’s biggest problems, including energy.
Governors of N.D., Wyo. push for more time to deal with Clean Power Plan
By Elizabeth Harball, Emily Holden and Rod Kuckro – E&E
The governors of two coal-dependent Western states, Wyoming and North Dakota, believe they have a strong case to make to the Obama administration about the extra time they need to comply with U.S. EPA’s new rule to slash CO2 emissions from power plants.
California Leads a Quiet Revolution
By Beth Gardiner – The New York Times
California is cruising toward its 2020 goal for increasing renewable energy and is setting far more ambitious targets for the future.
***LB: Also in this story “Its large-scale solar arrays produced more energy in 2014 than those in all other states combined. Half the nation’s solar home rooftops are in the state, and thousands more are added each week.”
DFID to fund solar-powered irrigation pumps to boost African farming
By Jocelyn Timperley – BusinessGreen
Businesses have been invited to bid for a share of £800,000 government funding to develop solar-powered irrigation pumps for farmers in Sub-Saharan Africa.
***LB: Also in this story “The competition, organised by Innovate UK and supported by the Department for International Development (DFID), aims to create an irrigation pump to boost farming output in developing economies.”
Energy storage grabs spotlight in Southeast utility tech plays
By Kristi E. Swartz – E&E
Leaders of the Southeast’s utilities are making bold statements about where they see their companies heading when it comes to advanced energy storage, a corner of the technology world that even die-hard enthusiasts say is nascent.
Panel to debate long-awaited drought measures
By Annie Snider – E&E
After months of quiet backroom discussions, efforts to pass Western drought legislation are getting ready for prime time.
***LB: Also in this story “Sen. Lisa Murkowski’s (R-Alaska) Energy and Natural Resources Committee this week will hold a long-awaited legislative hearing on the two lead California-specific relief measures, as well as several other bills dealing with Western water issues. “