On Columbus Day, readers will discover America: a land of opportunities for renewable energy, says VP Joe Biden. Indeed, investors need to be aware of the fact that fossil fuel companies cannot burn all of their reserves if the world is to avoid catastrophic climate change, says Bank of England’s Governor Mark Carney. And finally, in today’s edition, readers will discover that Triodos Renewables launched a crowd-funded offer to expand its green energy portfolio.
Quote of the day
“We’ve decided to lower our minimum investment because we believe that investing in renewable energy should be an option to everyone and we want to provide a rewarding connection with renewable energy for even more people.”
Matthew Clayton, executive director of Triodos Renewables, in the BusinessGreen’s story Triodos Renewables unveils £5m green energy crowdfunding offer
Triodos Renewables unveils £5m green energy crowdfunding offer
Triodos Renewables has today launched a £5m crowdfunded share offer in a bid to finance an expansion of its green energy portfolio.
Reports: Mark Carney lends weight to carbon bubble theory
Jessica Shankleman, BusinessGreen
The Governor of the Bank of England has reiterated his warning that fossil fuel companies cannot burn all of their reserves if the world is to avoid catastrophic climate change, and called for investors to consider the long-term impacts of their decisions.
***LB: Also in this story “Carney is the latest high profile figure to lend his weight to the “carbon bubble” theory, which warns that fossil fuel assets, such as coal, oil and gas, could be significantly devalued if a global deal to tackle climate change is reached.”
US climate action can drive growth and reduce emissions, report says
Danny Bradbury, BusinessGreen
The US can save money and the planet at the same time, according to a report issued Friday by the World Resources Institute (WRI). The payoff associated with reducing greenhouse gas emissions can outweigh the costs, the organisation said.
Biden: ‘Energy revolution’ calls for more investment in alternatives
Timothy Cama, The Hill
Vice President Biden said the United States is having an “energy revolution,” which should spur more investment in renewable energy.
GDF Suez chief confident Russia gas will keep flowing
Michael Stothard, Financial Times
Russia needs the money from the sale of gas to Europe too much to seriously consider cutting off supplies in response to the crisis in the Ukraine, according to the chief executive of the world’s second largest utility GDF Suez.
Russia hopeful for government agreement on gas with China
Vladimir Soldatkin, Reuters
Russia has prepared intergovernmental agreements to sign during Chinese Premier Li Keqiang’s visit to Moscow next week including one on a $400 billion (248.98 billion pound) natural gas deal agreed in May, Russia’s deputy foreign minister said.
The $9.7 Trillion Problem: Cyclones and Climate Change
You can do a lot with $9.7 trillion: buy all the real estate in Manhattan 12 times over, purchase 22 carbon copies of Apple, or an absurd quantity of apples.
Americans Can Save More Money by Not Burning It: Study
Mark Drajem, Bloomberg
Climate change policy is often assumed to be a lose-lose proposition.
Pricing Arctic change, for boardrooms and soccer moms alike
Marianne Lavelle, The Daily Climate
Gail Whiteman wanted to make clear that we all have a stake in the profound changes taking place at the top of the world. So she put a price tag on them.
***LB: Also in this story “The cost of Arctic warming – $60 trillion over the next hundred years – caused a stir last year when Whiteman, a social scientist at Erasmus University in Rotterdam, published it in the journal Nature with colleagues from Cambridge University.”
IEA: Renewables could power prosperity in Africa
Will Nichols, BusinessGreen
Renewables can meet sub-Saharan Africa’s energy needs by 2040 if the region can unlock its potential, the International Energy Agency (IEA) has said.
Germany says can’t exit coal-fired energy at same time as nuclear
Germany dismissed on Sunday a report suggesting it planned to exit coal-fired power generation in order to protect the climate, saying this would impose too great a burden on industry as the country is also phasing out nuclear energy.
Ecotricity considers legal challenge over EU go-ahead for Hinkley Point
Terry Macalister, The Guardian
Independent energy supplier Ecotricity is among companies and organisations considering a legal challenge against the European commission decision to give approval to Hinkley Point C nuclear plant.
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
EPA readies major ozone rule change
Timothy Cama and Tim Devaney, The Hill
The Obama administration is preparing to unveil an air pollution rule shortly after the midterm elections that could be among the most costly and controversial in history.
Slashing shipping emissions needs open data, IMO told
Will Nichols, BusinessGreen
Shipping efficiency data should not be withheld by the International Maritime Organisation (IMO) but made transparent so the industry can improve environmental performance, campaign groups have said.
Oil companies quietly prepare for a future of carbon pricing
Mark Schapiro, Yale Environment 360
In the winter of 2013, after mounting pressure from shareholder groups who wanted to understand the impacts of any future climate legislation, the biggest U.S.-based oil companies were nudged into a surprising revelation: “Carbon,” the stand-in for carbon dioxide and all other greenhouse gases, had been given a price in the companies’ internal accounting.
FAO sets standards to improve national forest monitoring systems
FAO has launched free software tools that it hopes will improve the way many developing nations monitor the state of their forests to tackle deforestation and climate change.
Republicans to Investigate Environmental Group’s Influence on Carbon Rule
Coral Davenport, The New York Times
Congressional Republicans are investigating whether the Obama administration improperly colluded with a prominent environmental advocacy group, the Natural Resources Defense Council, as the Environmental Protection Agency drafted major climate change regulations.
Natural gas / coal
Plotting an American-Style Fracking Revolution in Britain
Red Jahncke, The Wall Street Journal
The U.S. is surging into global leadership in petroleum production, surpassing Saudi Arabia. At the same time, America’s greenhouse-gas emissions are declining and U.S. energy costs are the envy of the industrialized world.
After nearly a century, W.Va. coal battle rages on
At the dirt road entrance to the Mingo Logan Coal Company site along Route 17 in rural West Virginia, a white metal sign hangs, riddled with bullet holes, announcing “NO TRESPASSING” in red lettering.
Morgan Stanley’s Rosneft deal flounders
Tom Braithwaite and Camilla Hall, Jack Farchy and Neil Hume, Financial Times
Morgan Stanley’s deal to sell an oil trading business to Rosneft, the state-owned Russian oil group, is close to collapse amid the profound chill in relations between Russia and the US.
Spain’s Gas Natural to buy Chilean power group CGE
Tobias Buck, Financial Times
Gas Natural, the Spanish energy group, has launched a 2.6bn euros takeover bid for Compañía General de Electricidad, the Chilean power company.
Google set to pilot flying wind turbine in Hawaii next year
Jessica Shankleman, BusinessGreen
Google is reportedly hoping to start a pilot project to test out an innovative “flying wind turbine” design that could cut the cost of energy and land use demand, by this time next year.
Not Just California: Droughts Extend Across Americas
Miguel LLanos, NBC News
Say “drought” and Americans are likely to think California, but the Golden State is hardly alone when looking across the Western Hemisphere: A dry spell has killed cattle and wiped out crops in Central America, parts of Colombia have seen rioting over scarce water, and southern Brazil is facing its worst dry spell in 50 years.
Drought Plagues Brazil’s Richest Metropolis
Mario Osava, Terramerica
Agricultural losses are no longer the most visible effect of the drought plaguing Brazil’s most developed region. Now the energy crisis and the threat of water shortages in the city of São Paulo are painful reminders of just how dependent Brazilians are on regular rainfall.
Beijing to Tap Water From Thousands of Kilometers Away
Stian Reklev, Reuters
The water coming out of Beijing taps later this month may have travelled more than 1,400 kilometers, transported along a series of canals and pipelines that form part of the world’s biggest water transfer project.
Drugs flushed into the environment could be cause of wildlife decline
Damian Carrington, The Guardian
Potent pharmaceuticals flushed into the environment via human and animal sewage could be a hidden cause of the global wildlife crisis, according to new research.
Campaign to put ecocide on a par with genocide in attempt to curb environmental destruction
Ian Johnston, The Independent
A global campaign to make “ecocide” a crime under international law is to be launched tomorrow in an attempt to outlaw the worst kinds of environmental destruction.
Schwarzenegger is now climate ‘innovator’ and ‘visionator’
Malay mail online
Hollywood legend Arnold Schwarzenegger has gone from being the “Terminator” to the “Innovator,” France’s Foreign Minister Laurent Fabius said yesterday, praising him for his work to prevent climate change.