Month: February 2019

Decarbonisation ‘could leave fossil-fuel economies stranded’ – Energy Live News #Auspol #Qldpol #NSWPol #StopAdani Wake Up Australia! #ClimateStrike #ExtinctionRebellion #Insiders #TheDrum #QandA

Decarbonisation ‘could leave fossil-fuel economies stranded’ – Energy Live News

Global decarbonisation could turn fossil fuel-reliant economies into ‘stranded nations’ unable to unlock the value of carbon-based assets and infrastructure.

These are the findings of a new World Economic Forum study, which shows the world’s sovereign wealth funds collectively own $8 trillion (£6.1tn) in assets but currently invest just 0.19% of this figure in green energy.

It says economies that are heavily dependent on fossil fuel resources with more than 10% of their total wealth based in carbon assets could become “stranded” – it says they must act now to develop the “human capital and economic diversification” to continue to thrive.

The report acknowledges some fossil fuel-dependent countries have already begun to diversify their economies for impending energy changes but notes progress is slow.

It says this could pose a serious problem because as much as three-quarters of energy is expected to come from green sources by 2050.

— Read on www.energylivenews.com/2019/02/22/decarbonisation-could-leave-fossil-fuel-economies-stranded/

We can no longer rely on coal for our future prosperity. We must plan for life without it | Greg Jericho The Guardian #auspol #qldpol #nswpol #StopAdani #ClimateStrike #ExtinctionRebellion #Insiders #TheDrum

Two significant events have showed that a major adjustment of our economy is needed to end our reliance on coal

It will be no news to anyone that the coal industry is a pretty big deal in our economy – it is our biggest export and a major source of economic growth.

We do however get a bit overexcited about it as we get trapped into thinking the Australian economy is all about mining and any hits to it means we are effectively stuffed.

Events this week showed that we need to start preparing for life without it.

Mining companies don’t start limiting mining just because they are overcome by the warm fuzzies of shareholders being concerned about climate change.

They know it is fast becoming a stranded asset – an asset that, due to changes in technology (or in this case, responses to climate change), becomes a liability to hold.

— Read on amp.theguardian.com/commentisfree/2019/feb/24/we-can-no-longer-rely-on-coal-for-our-future-prosperity-we-must-plan-for-life-without-it

Jeffrey Sachs: The #GreenNewDeal is feasible and affordable #Auspol #NSWpol #Qldpol #StopAdani #ClimateStrike #ExtinctionRebellion #Insiders #TheDrum #QandA

Green New Deal is feasible and affordable (opinion) – CNN

CNN) — There are three main ideas of the Green New Deal Resolutionintroduced by Congresswoman Alexandria Ocasio-Cortez and Senator Ed Markey.

The first is to decarbonize the US energy system — that is, to end the emissions of carbon dioxide (CO2) from burning coal, oil and natural gas, in order to stop global warming. 

The second is to guarantee lower-cost, high-quality health coverage for all. 

The third is to ensure decent jobs and living standards for all Americans, in part by making colleges and vocational schools affordable for all. 

The right wing and corporate lobbies are already hyperventilating: It is unachievable; it will bankrupt us; it will make us into Venezuela.

These claims are dead wrong. The Green New Deal agenda is both feasible and affordable. This will become clear as the agenda is turned into specific legislation for energy, health care, higher education, and more. 

The Green New Deal combines ideas across several parts of the economy because the ultimate goal is sustainable development.

That means an economy that delivers a package deal: good incomes, social fairness, and environmental sustainability.

Around the world, governments are aiming for the same end — a “triple-bottom line” of economic, social, and environmental objectives. 

— Read on amp.cnn.com/cnn/2019/02/22/opinions/green-new-deal-sachs/index.html

This is an emergency, damn it

We need a global Green New Deal

The Extinction Chronicles

Green New Deal critics are missing the bigger picture.

By David Robertsdavid@vox.com  
Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Ed Markey (D-MA) unveil the Green New Deal on February 7, 2019. 
 Alex Wong/Getty Images

Earlier this month, Sen. Ed Markey (D-MA) and Rep. Alexandria Ocasio-Cortez (D-NY) introduced a Green New Deal resolution laying out an ambitious set of goals and principles aimed at transforming and decarbonizing the US economy.

The release prompted a great deal of smart, insightful writing, but also a lot of knee-jerk and predictable cant. Conservatives called it socialist. Moderates called it extreme. Pundits called it unrealistic. Wonks scolded it over this or that omission. Political gossip columnists obsessed over missteps in the rollout.

What ties the latter reactions together, from my perspective, is that they seem oblivious to the historical moment, like thespians acting out an old…

View original post 4,032 more words

First Strike – George Monbiot #auspol #qldpol #nswpol #ClimateStrike #ExtinctionRebellion #StopAdani Demand a #GreenNewDeal #Insiders #TheDrum #QandA “Human life is not negotiable it cannot be exchanged for money”

First Strike

I believe a successful movement should also define a clear and tangible objective, perhaps a date by which nations achieve a zero carbon economy.

It could recommend a pathway, such as a ramped-up version of the Green New Deal proposed by the most progressive Democrats.

If so, it will need to set a series of waymarks, by which it can judge whether or not governments are on track.

This ensures that the activists, rather than the government, keep setting the agenda.

This objective should be supported by a set of irreducible principles, that can be explained and spread with pride and conviction.

Here are a couple of possible examples. “Human life is not negotiable; it cannot be exchanged for money.” “The generations which have yet to be born have the same rights as those already alive.”

— Read on http://www.monbiot.com/2019/02/22/first-strike/

Utilities are starting to invest in big batteries instead of building new power plants #auspol #qldpol #nswpol #ClimateStrike #ExtinctionRebellion #StopAdani Let’s make Coal history. #TheDrum #Insiders

Energy storage could prove an inexpensive way for power companies to handle heat waves and other times when consumers use more electricity than usual

Due to their decreasing costs, lithium-ion batteries now dominate a range of applications including electric vehicles, computers and consumer electronics.

You might only think about energy storage when your laptop or cellphone are running out of juice, but utilities can plug bigger versions into the electric grid. And thanks to rapidly declining lithium-ion battery prices, using energy storage to stretch electricity generation capacity. 

Based on our research on energy storage costs and performance in North Carolina, and our analysis of the potential role energy storage could play within the coming years, we believe that utilities should prepare for the advent of cheap grid-scale batteries and develop flexible, long-term plans that will save consumers money.

— Read on theconversation.com/utilities-are-starting-to-invest-in-big-batteries-instead-of-building-new-power-plants-110961

Hedge fund forecasts demise of coal in Europe within 3 years #StopAdani #ClimateStrike #ClimateChange #ExtinctionRebellion #TheDrum #Insiders #QandA

Lansdowne Partners expects demand to fall to almost zero as climate change moves up agenda

A senior London commodity hedge fund manager is forecasting coal demand in Europe will collapse within three years, betting that the price of EU carbon emission allowances will soar to levels that force power stations to close across the continent.

Per Lekander, who manages more than $1.1bn at Lansdowne Partners in Mayfair, told the Financial Times that coal demand would fall close to “zero” if carbon allowances hit €50 a tonne, a level he is betting on them reaching as climate change moves up the political agenda. “My projection for coal becoming less than 5 per cent [of European power supply] is three to four years.

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