In today’s edition, it is not a question of “either or” – but of “instead of”. Instead of a binding treaty on climate, let’s have a simple accord, says the Obama administration as it faces opposition from Republicans on a treaty. And instead of investing in fossil fuel assets, let’s divest and invest in alternative green assets, provided there are some, advisers say. It is time to act in any case, as the latest UN report is clear: without action on emissions, the world will face irreversible consequences.
Quote of the day
“If you want a deal that includes all the major emitters, including the U.S., you cannot realistically pursue a legally binding treaty at this time.”
Paul Bledsoe, a top climate change official in the Clinton administration who works closely with the Obama White House on international climate change policy, in the New York Times’ story Obama Pursuing Climate Accord in Lieu of Treaty
Analyst: New clean tech investment vehicles needed to enable $5tr fossil fuel divestment
James Murray, BusinessGreen
The global campaign to encourage institutional investors to ditch fossil fuel assets in a bid to protect themselves against long-term financial risks will only succeed if viable and large-scale alternative investments are identified.
***LB: Also in this story “Fossil fuels offer four attributes (overall scale, liquidity, value growth, and dividend yield), a more complete investment package than that provided by most other sectors.”
Unlocking Private Sector Financing for Alternative Fuel Vehicles and Fueling Infrastructure
C2ES, in partnership with National Association of State Energy Officials (NASEO) and with funding from the U.S. Department of Energy’s Clean Cities Program, began a two-year project in early 2013 to develop innovative finance strategies aimed at accelerating the deployment of AFVs and fueling infrastructure.
Obama Pursuing Climate Accord in Lieu of Treaty
Coral Davenport, The New York Times
The Obama administration is working to forge a sweeping international climate change agreement to compel nations to cut their planet-warming fossil fuel emissions, but without ratification from Congress.
U.N. Draft Report Lists Unchecked Emissions’ Risks
Justin Gills, The New York Times
Runaway growth in the emission of greenhouse gases is swamping all political efforts to deal with the problem, raising the risk of “severe, pervasive and irreversible impacts” over the coming decades, according to a draft of a major new United Nations report.
A Future Powered by Fusion Draws a Little Closer
Roger Highfield, Newsweek
Within the next 50 years, scientists will build a fusion power plant to harness the same processes that make the sun shine. The moment this star winks on, everything will change.
Nespresso pledges £330m to become “carbon neutral” by 2020
Jessica Shankleman, BusinessGreen
Nestle’s Nespresso coffee brand has taken a major step towards curbing its impact on the environment, pledging to invest 500m Swiss francs (£329m) in a bid to become “carbon neutral” by 2020.
New coal power stations threat to EU’s emissions target
Karl Mathiesen, the Guardian
New coal power stations designed to burn Europe’s massive deposits of lignite pose a serious threat to the continent’s decarbonisation efforts, according to figures released on Wednesday.
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
Climate Action Offsetter: Sale of First Carbon Offsets from Maine Ecological Reserve
Kasey Krifka, The Climate Trust
The Climate Trust recently purchased carbon offsets from The Appalachian Mountain Club’s (AMC) Katahdin Iron Works conservation property in Maine.
Natural gas / coal
India court’s coal ruling fuels confusion
James Crabtree, Financial Times
“Coal is king and paramount lord of industry,” wrote India’s Supreme Court this week. Few in the country’s fuel-starved industrial economy would disagree – hence the dismay that followed when the court ruled as illegal every coal licence given to private sector companies for the past two decades.
Shale oil and gas producers’ finances lift growth hopes
Ed Crooks, Financial Times
The independent oil and gas companies at the forefront of the US shale revolution have substantially improved their financial position – boosting confidence that the rapid growth in production can continue.
Report: University of Sydney joins coal divestment movement
The global divestment campaign has secured another victory, after the University of Sydney this week confirmed it is to halt future investments in coal firms and is considering offloading its current holdings in the industry.
***LB: Also in this story “The Sydney Morning Herald reported the university will cease investments in Whitehaven Coal.”
Atlantis inks £7.5m deal to open up second front in MeyGen tidal energy push
Atlantis Resources Limited has completed a busy few days, following last week’s announcement it is to start work on the world’s largest tidal stream project with confirmation it has secured a £7.5m contract to supply a new foundation for the second phase of the ground-breaking development.
Businesses asked where they want London’s fast-chargers to be located
Transport for London (TfL) will ask businesses where fast chargepoints should be placed to best support electric vans and delivery vehicles across the capital.
Algae will power Electric Grand Prix
Will Nichols, GreenBiz.com
The world’s first electric Grand Prix series will power its cars with electricity derived from algae as part of its promise to showcase the best in cutting edge zero emission technologies.
California’s Dogged Drought Cutting Off Water Supplies to State’s Poor
Brett Walton, Circle of Blue
Just as summer in the San Joaquin Valley was reaching a full boil in June, the Colunga family lost its water and its connection to the modern world.
Prehistoric proof of climate’s see-saw sensitivity
Tim Radford, Climate News Network
It doesn’t take much to change a planet’s climate – just a little shift in the Northern hemisphere glacial ice sheet and a bit more carbon dioxide in the atmosphere.