In today’s edition, companies are vying to innovate: Lockheed announces a breakthrough on nuclear fusion energy and (in the Carbon section) Italy is set to become the first country to mandate the use of “advanced biofuels” in cars and trucks. Indeed, competition (and regulation) is key to push companies to protect themselves from the effects of climate change, says PwC. And finally, an innovation in dire need of reform: the EU carbon market.
Quote of the day
“We’ve been saying for years: ‘Fix the emissions trading scheme’.”
Bryony Worthington, director of Sandbag think tank, in the RTCC’s story Take on the “fatcats” or scrap EU carbon market – think-tank
Take on the “fatcats” or scrap EU carbon market – think-tank
Megan Darby, RTCC (Responding to Climate Change)
ArcelorMittal is hoarding a surplus of climate pollution permits worth almost twice its annual carbon emissions, a think-tank has revealed.
***LB: Also in this story “Heavy industrial companies benefitting from a glut of cheap permits under the EU’s emissions trading system (ETS).”
Lockheed announces breakthrough on nuclear fusion energy
Lockheed Martin Corp said on Wednesday it had made a technological breakthrough in developing a power source based on nuclear fusion, and the first reactors, small enough to fit on the back of a truck, could be ready for use in a decade.
Competition drives climate action, not science -PwC
Nina Chestney and Susanna Twidale, Reuters
Competition and regulation push companies to take action to protect themselves from the effects of climate change, not climate science, Jon Williams, partner at global consultancy firm PwC told the Reuters Global Climate Change Summit.
The incredible shrinking Keystone
Elana Schor, Politico
The pipeline that launched so many street protests, ad campaigns and political headaches for the White House is increasingly irrelevant in the midterm elections and the energy markets — even for the groups that have fought so hard to either build it or block it.
SolarCity offers $200m green bonds
Will Nichols, BusinessGreen
The California-based company, which claims to provide more than one out of every three new solar power systems in the US, is selling the notes through its website in increments of $1,000, with maturities ranging from one year to seven years and interest rates of up to four per cent.
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
Refiners press Obama to lower renewable fuel mandate
Laura Barron-Lopez, The Hill
Refiners are urging President Obama to scale back the amount of biofuel that must be blended into the nation’s fuel supply for 2014.
Exxon, Shell emissions rise
Timothy Cama, The Hill
Exxon Mobil Corp. and Royal Dutch Shell emitted more carbon dioxide last year than they did two years prior, despite producing less oil and natural gas.
***LB: Also in this story “The companies produced about 10 percent more greenhouse gases for each barrel of oil or gas they pumped compared to 2011.”
Storing greenhouse gas underground—for a million years
Jia You, Science
When Canada switched on its Boundary Dam power plant earlier this month, it signaled a new front in the war against climate change.
Italy unveils first national mandate for advanced biofuels
Will Nichols, BusinessGreen
Italy is set to become the first country to mandate the use of “advanced biofuels” in cars and trucks.
Natural gas / coal
With eyes on oil and gas sector, investors seek methane rules
Robert Kropp, GreenBiz.com
During the 2013 proxy season, first-time resolutions filed with three oil and gas companies by Trillium Asset Management gained considerable support from shareowners who agreed that fugitive methane represented a significant environmental and financial risk for companies engaged in hydraulic fracturing.
Gas boom from unrestrained fracking linked to emissions rise
Damian Carrington, theguardian.com
An unrestrained global fracking boom that unleashes plentiful and cheap gas will not tackle global warming by replacing coal and cutting carbon emissions, according to a comprehensive analysis that takes into account the impact on the rest of the energy supply.
Walmart Is the Biggest Corporate Solar User. Why Are Its Owners Funding Groups That Oppose Solar?
Tim McDonnell, Climate Desk
Walmart loves solar power—as long as it’s on their roof, and not yours.
***LB: Also in this story “The Waltons have given $4.5 million to anti-clean-energy groups over the last four years.”
The humble coconut might hold the key to making hydrogen-powered cars viable
Saptarishi Dutta, Quartz
For years now, hydrogen’s potential as an alternative fuel has been getting car companies, policymakers and scientists rather excitable. It’s available in plenty, produces a lot of energy and almost no pollution.
Small businesses urge EPA to drop water rule
Tim Devaney, The Hill
Small businesses are accusing the Environmental Protection Agency (EPA) of a “massive power grab” to extend its authority over small bodies of water like streams, ponds and even puddles.
GAO: Feds should do more to stop ocean acidification
Timothy Cama, The Hill
The Government Accountability Office (GAO) is calling out federal agencies for not implementing part of a 2009 law meant to reduce ocean acidification.
Colombian farmers sue BP in British court
Diane Taylor, theguardian.com
More than 100 Colombian small farmers are taking on oil giant BP in the UK high court on Wednesday in one of the largest cases in environmental legal history.
Study finds millennials’ shift away from driving is ‘more than temporary’
Kevin Rector, The Baltimore Sun
The nation’s largest generation — the so-called “millennials,” born between 1983 and 2000 — have shown less dependence on driving to get around in recent years and aren’t likely to change their ways, according to a new study released Tuesday by the Maryland PIRG Foundation and the Frontier Group.
Churches Go Green by Shedding Fossil Fuel Holdings
Kate Galbraith, The New York Times
In 2008, when the archbishop of the Church of Sweden convened a conference on the threats posed by climate change, the church’s investment managers took notice.