Just 10% of fossil fuel subsidy cash 'could pay for green transition' : The Guardian

"Switching just some of the huge subsidies supporting fossil fuels to renewables would unleash a runaway clean energy revolution, according to a new report, significantly cutting the carbon emissions that are driving the climate crisis.

Coal, oil and gas get more than $370bn (£305bn) a year in support, compared with $100bn for renewables, the International Institute for Sustainable Development (IISD) report found. Just 10-30% of the fossil fuel subsidies would pay for a global transition to clean energy, the IISD said."

Link to The Guardian article 


Related:

Coalition's emissions reduction fund labelled 'a joke' after first post-election auction

Related: Can planting trees save our climate?

 

Moody’s Buys Climate Data Firm, Signaling New Scrutiny of Climate Risks:New York Times

Investors are taking global heating/climate change seriously.

"Moody’s Corporation has purchased a controlling stake in a firm that measures the physical risks of climate change, the latest indication that global warming can threaten the creditworthiness of governments and companies around the world.

The rating agency bought a majority share in Four Twenty Seven, a California-based company that measures a range of hazards, including extreme rainfall, hurricanes, heat stress and sea level rise, and tracks their impact on 2,000 companies and 196 countries. In the United States, the data covers 761 cities and more than 3,000 counties. 

“We are taking these risks very seriously,” said Myriam Durand, global head of assessments at Moody’s Investors Service, who said the purchase would allow its credit analysts to be more precise in their review of climate related risks. “You can’t mitigate what you don’t understand.”

The purchase is the latest in a series of moves by rating agencies to better account for the effects of climate change on the ability of governments to pay back the money they borrow by issuing bonds. Global warming can threaten that ability in a variety of ways."

Go to New York Times article 

Of interest:

Can planting trees save our climate?

'People are dying': how the climate crisis has sparked an exodus to the US : The Guardian

"As part of the Running Dry series, the Guardian looks at how drought and famine are forcing Guatemalan families to choose between starvation and migration
by Nina Lakhani in Camotán

At sunrise, the misty fields around the village of Guior are already dotted with men, women and children sowing maize after an overnight rainstorm.

After several years of drought, the downpour brought some hope of relief to the subsistence farmers in this part of eastern Guatemala.

But as Esteban Gutiérrez, 30, takes a break from his work, he explains why he is still willing to incur crippling debts – and risk his life – to migrate to the United States.

“My children have gone to bed hungry for the past three years. Our crops failed and the coffee farms have cut wages to $4 a day,” he says, playing nervously with the white maize kernels in a plastic trough strapped to his waist."

Read The Guardian article

Related:  

Heatwave: think it’s hot in Europe? The human body is already close to thermal limits elsewhere :The Conversation

How BHP's climate stance caught its fellow miners on the hop: Financial Review

" 'Society’s combustion of fossil fuels and industrial processes like steelmaking and agriculture have released greenhouse gases at rates much faster than at any other time in the geological past.'

It could be a line from any climate change rally over the past two decades.

Instead the words came straight from the mouth of BHP chief executive Andrew Mackenzie, who warned in a speech in London on Tuesday of an "escalation towards a crisis" and signalled the resources giant would push customers to reduce emissions."

Read the Financial Review article 

But is this just 'greenwashing' ?

Heatwave: think it’s hot in Europe? The human body is already close to thermal limits elsewhere :The Conversation

Kolkata India

"And yes, there is a limit.

When the air temperature exceeds 35°C, the body relies on the evaporation of water – mainly through sweating – to keep core temperature at a safe level. This system works until the “wetbulb” temperature reaches 35°C. The wetbulb temperature includes the cooling effect of water evaporating from the thermometer, and so is normally much lower than the normal (“drybulb”) temperature reported in weather forecasts.

Once this wetbulb temperature threshold is crossed, the air is so full of water vapour that sweat no longer evaporates. Without the means to dissipate heat, our core temperature rises, irrespective of how much water we drink, how much shade we seek, or how much rest we take. Without respite, death follows – soonest for the very young, elderly or those with pre-existing medical conditions."

Read The Conversation article

Power prices would be lower under emissions trading scheme, outgoing public service head Martin Parkinson says: ABC News

The outgoing head of the Department of Prime Minister and Cabinet says power prices would be lower now if an emissions trading scheme had been implemented over a decade ago.

"Whatever else you do, Renewable Energy Target, or anything else, they can be no cheaper than putting an explicit price on carbon," Martin Parkinson told 7.30.

"The difference is where's the cost in an emissions trading scheme (ETS)? The cost is quite visible. It's there, it's the price of the permit.

"In the case of the Renewable Energy Target or any other intervention, then often that price is hidden from the view of the consumer. But ultimately the consumer's paying because it's built into the price of power.

"At the moment what we've got is a lot of burden falling on energy prices.

"If we had an ETS it would have smeared that cost across all parts of the economy."

Read the ABC News article 

Related: Can planting trees save our climate?

Major U.S. cities are leaking methane (Natural Gas) at twice the rate previously believed

Natural gas, long touted as a cleaner burning alternative to coal, has a leakage problem. A new study has found that leaks of methane, the main ingredient in natural gas and itself a potent greenhouse gas, are twice as big as official tallies suggest in major cities along the U.S. eastern seaboard. The study suggests many of these fugitive leaks come from homes and businesses—and could represent a far bigger problem than leaks from the industrial extraction of the fossil fuel itself.

“This is an issue that people tend to ignore when trying to estimate methane emissions,” says Kathryn McKain, an atmospheric scientist with the National Oceanic and Atmospheric Administration’s Earth System Research Laboratory in Boulder, Colorado, who wasn’t involved in the new research. When compared with the global amount of natural and human-driven methane emissions, she notes, “These emissions are small, but they’re preventable.”

Read the ScienceMag article