While the world looked the other way, corporate giants abandoned coal: SMH

"The decisions to exit coal by big financial institutions is carefully tracked by Australian energy finance analyst Tim Buckley, who says 133 globally significant financial institutions have announced their exit from coal, 10 in the past two weeks. That, he says, is "triple the run-rate of last year".

On April 17 Austria eliminated coal from its grid when it closed its last coal-fired plant. "Coal power in Austria is history," said the utility chief. 

"The future belongs to renewable energy."
In the same week Sweden closed its last coal-fired plant two years earlier than planned. The two countries join Belgium celebrating coal-free status."

 ..................................

"On the last day of the month Allianz, one of the world’s biggest insurers with an astronomical investment book, said it would not invest in coal or insure it.

Coal-fired power would be verboten. It will exclude dealings with any corporate that derives more than 30 per cent of its revenue from coal (in two years to be 25 per cent). Farewell also to any partner owning infrastructure that services coal, such as ports or rail, which it now views as long-term toxic and stranded assets.

Once a huge financier of coal, Allianz confirms a massive pivot to renewables."


Read more

Australia’s plunging wind, solar, storage costs stun fossil fuel industry: Renew Economy

"This week the federal Coalition government decided to dump 90 per cent of the coal projects that had been submitted to its big underwriting program, and chose instead a shortlist dominated by renewables backed by battery storage and pumped hydro, and some gas and just one coal upgrade.


The choice may have been driven more by politics than economics, given the project developers were asked for only a broad outline of their proposal and there is an election just a few weeks away.


But when the final detailed tenders come in later this year – assuming the program survives the upcoming election campaign – the economic case for favouring renewables and storage projects should be crystal clear, if the latest numbers from global analysts BloombergNEF are anything to go by.

The stunning fall in the costs of wind, solar and storage – estimated on a global scale – has already put the fossil fuel industry on notice, as we reported earlier this week."

Read the article 

See also: The Age of Stupid

#coal  #coalgeneratedenergy  #electricity   #renewableenergy  #renewableenergy

Out on its own: Australia the only country to use climate funding to upgrade coal-fired plants

"Green finance experts say Australia is out of step with World Bank, Europe and the US, which are using funding to combat global warming.

Australia is the only developed country that allows climate change funding to be used to upgrade coal-fired power plants, green finance experts say.

Experts say allowing Vales Point coal-fired power station to register with the Morrison government’s emissions reduction fund, rebadged this week as a “climate solutions” policy, puts Australia out of step with the World Bank, Europe and the US, which have all rejected using climate financing for coal power retrofits.

The World Bank has issued US$13bn in green bonds since

Criminal Countries

2008 to stimulate spending to combat global warming.

China has used green bonds to help build new coal-fired plants to replace older, dirtier stations on the grounds it reduces nitrogen-based emissions causing the country’s oppressive air pollution. But it announced in December it would no longer consider “clean coal” plants – which still emit significant amounts of greenhouse gas – investments in green technology.

Sean Kidney, chief executive of the London-based Climate Bonds Initiative, says China’s shift leaves Australia out on its own."

Read the complete article

Related: The worst-case scenario
 

Coal, conservatives, and craziness: Financial Review

Coal Mining

Privately owned electricity generators in Australia don't want to invest billions of dollars in new coal-fired power plants for the simple reason that renewable power with storage is cheaper and quicker to build. The idea that it doesn't make sense to place a 50-year bet on coal-fired generation in Australia, but it does in developing countries, is simply bizarre.

If AGL, the largest consumer of coal in Australia, can't make coal-fired powered stations stack up financially — even with near zero coal transport costs — how can anyone believe that coal will make sense in developing countries that have to cover all of the costs of getting their coal from Australia to Asia?

Read the Financial Review article 

See also: Australia's biggest companies failing to plan for climate change risks: report: ABC NEWS

#coal  #coalmining  #coal mining  #economy  #australia  #energy production  #climate change

NSW is most coal dependent Australian state

"We have such a long way to go! 

Doctors for the Environment Australia

Our government needs to listen to the wise voice of humanity, take the brakes off, move out of the Fossil Fuel Age and into a Healthy Planet, Healthy People future. They need to be yelling out "Bring it on" when it comes to Renewables, and they need to demand the new generation of Environmental Laws. Who dares wins!

Email Premier Berejiklian and Opposition Leader Michael Daley and
get them to get serious on clean energy and climate change @ https://www.nature.org.au/…/nsw-politicians-its-time-for-a…/

Take the Pledge to Protect our children and our future health from Climate Change @ https://notimeforgames.dea.org.au"

 #NSW #Morrison-McCormackgovernment #coalmining #coal, #health #climateaction

Rolling Stone: The Truth About These Climate Change Numbers

"A new report shows carbon emissions are moving in the wrong direction, and we’re running out of time."

"A new report issued this week by the Global Carbon Project shows that, far from making progress, we’re going in exactly the opposite direction. After several years when global carbon emissions flatlined, giving hope to some that the turning point had come, the new report shows that carbon emissions are projected to increase by 2.7 percent in 2018. That may not sound like a lot, but given what’s at stake with our rapidly changing climate, it’s the equivalent of an alcoholic who had sworn to go cold turkey taking a couple of shots of Jack Daniels at lunch."

 #carbon #china #usa #coalmining #globalwarming #climateaction #carbondioxide #1.5 degrees

Read the Rolling Stone Article

Labor's timid energy plan continues to protect coal from carbon price: Bandt

Greens climate change and energy spokesperson Adam Bandt MP said Labor’s energy policy announced today fails to tackle coal and is another capitulation to Tony Abbott by dumping a carbon price in favour of a policy scavenged from the Liberals’ rubbish bin.

Inside EPA head Andrew Wheeler’s highly effective campaign to sacrifice public health in favor of the fossil-fuel industry

The President’s Coal Warrior

If you could design the ideal character to assure the continuing domination of Big Coal and Big Oil in America and to reaffirm their faith in their God-given right to cook the climate in pursuit of profit, that character would look a lot like acting EPA Administrator Andrew Wheeler.

Go Rolling Stone Story

GREENS WELCOME INVESTMENT IN NSW ENERGY TRANSMISSION INFRASTRUCTURE AS OPPORTUNITY FOR SUPPORTING NEW RENEWABLES

A fortnight after the Greens released their plan for eight renewable energy zones and upgrades to transmission projects in NSW, the State Government has today released its NSW Transmission Infrastructure Strategy.

The Greens have welcomed the four priority transmission projects identified in the strategy, including upgrades to the interconnectors with Queensland and Victoria, and a new interconnector with South Australia to enable renewable energy projects to connect to the grid and increase the resilience of the power network.

Everything to Know About Coal (in Under 3 Minutes)

Union of Concerned Scientists

Published on Jan 4, 2018

Coal has helped power the United States for decades—but thanks to automation and natural gas, it’s now on the way out. Given the many benefits of renewables, that’s not such a bad thing. Take action here: http://www.ucsusa.org/coal

Farmers in Queensland are calling for a future beyond coal in Queensland.

Info Farmers for Climate Action

Published on Oct 30, 2018

Burning coal causes climate change, which makes droughts worse. We must get this message out to ensure farmers will be able to continue producing fresh, healthy food for Australia into the future. 

If you have any questions about the ad campaign or about donating, please email us at info@farmersforclimateaction.org.au. If you’d prefer to send a cheque, the best address is: “Farmers for Climate Action, Progress Central coworking space, Level 3, 673 Bourke St, Melbourne 3000”.

Labor backing of Liberal coal plan outrageous: Bandt

No New Coal

Greens climate change and energy spokesperson Adam Bandt MP today slammed revelations from Labor that they would allow the construction or refurbishment of coal-fired power stations if the contracts were signed under the Liberals before the election. Mr Bandt also attacked Labor’s apparent confirmation that they would revive the zombie NEG to be their climate and energy policy for the electricity sector.
“Labor will have blood on their hands if they honour a contract to build a new coal-fired power station,” said Mr Bandt.