It’s Time for a Climate Trade War

In the fall of 2016, and the global climate community was in turmoil. The world’s largest historical emitter of greenhouse gas emissions, the United States, would soon have a climate denying President who had made promises to dramatically cut back on the climate actions of his predecessor, Barack Obama. A year after the world had agreed to a historic climate agreement, it was looking like the country most important for its success might, soon, depart, and could, potentially, doom the planet to climate catastrophe.

It's time for global climate trade war.

Unless, of course, the world did something about it. In the weeks after Donald Trump was elected, there were statements from world leaders that if the incoming President were to follow through on his climate commitments, the world could react by implementing retaliatory measures, such as a border tax. In fact, these stories got much attention in global media from November 2016 through the inauguration.

Read the story from Medium by Nithin Coca - “It’s Time for a Climate Trade War.”

World’s biggest firms foresee $1 trillion climate cost hit, report finds

More than 200 of the world’s largest listed companies forecast that climate change could cost them a combined total of almost $1 trillion, with much of the pain due in the next five years, according to a report published on Tuesday.

Steam and exhaust rise from the steel mill HKM Huettenwerke
 Krupp Mannesmann GmbH on January 6, 2017, in Duisburg, Germany.

Even so, the findings by charity CDP suggested many companies still underestimated the dangers as scientists warn that earth’s climate system is on course to hit catastrophic tipping points without rapid cuts in carbon emissions.

“Most companies still have a long way to go in terms of properly assessing climate risk,” said Nicolette Bartlett, CDP’s director of climate change, who authored the report.

Founded in the early 2000s, CDP — formerly known as Carbon Disclosure Project — is a respected voice in a growing coalition of pressure groups, fund managers, central bankers and politicians who believe global warming poses a systemic risk to the financial system.

Read the CBNC News story - “World’s biggest firms foresee $1 trillion climate cost hit, report finds."

Coal Company Responds to Investors, Vows to Cut Production to Battle Climate Change

One of the world’s largest mining and natural resource companies announced it will limit coal production to reduce carbon emissions in response to investors who pushed the company to commit to a transition to a low-carbon economy. 

One coal mining giant has bowed to investor pressure
 and agreed to stop expanding production in Australia
and other countries.

Glencore, a multinational mining company based in Switzerland, announced its plans after discussions with institutional investors participating in Climate Action 100+, a group with more than $32 trillion in assets under management. Investors praised Glencore’s commitment to the low-carbon transition and hailed it as a first for the mining industry. 

“We are encouraged to see that Glencore has taken the positive steps to align its business strategy with the goals laid out by the Paris Agreement to limit global temperature rise and to achieve net zero emissions,” said Mindy Lubber, vice chair of the global Climate Action 100+ steering committee and chief executive of Ceres, a nonprofit dedicated to sustainable investing. “As the first mining company to make such a commitment, we are hopeful that others in the sector and in other high-emitting sectors across the economy will follow suit.”

Glencore said it plans to “limit its coal production capacity broadly to current levels” while prioritizing commodities like copper, nickel, cobalt, vanadium and zinc that it says are “essential to the energy and mobility transition.” Last year, Glencore produced more than 129 million tons of coal. It operates 26 mines across Australia, Colombia and South Africa. 

Read the Climate Liability News story by Dana Drugmand - “Coal Company Responds to Investors, Vows to Cut Production to Battle Climate Change.”

Australia’s silence during climate change debate shocks COP24 delegates

As four of the world’s largest oil and gas producers blocked UN climate talks from “welcoming” a key scientific report on global warming, Australia’s silence during a key debate is being viewed as tacit support for the four oil allies: the US, Saudi Arabia, Russia and Kuwait.

Greenpeace activists project words “No hope without
climate action” on the roof of the venue of the COP24
 conference in Katowice, Poland. Australia stood on
 the sidelines of a heated debate. 

The end of the first week of the UN climate talks – known as COP24 – in Katowice, Poland, has been mired by protracted debate over whether the conference should “welcome” or “note” a key report from the Intergovernmental Panel on Climate Change.

Read the story from The Guardian by Ben Doherty - “Australia’s silence during climate change debate shocks COP24 delegates.”

Exclusive: BBC issues internal guidance on how to report climate change

The BBC, one of the world’s largest and most respected news organisations, has issued formal guidance to its journalists on how to report climate change.

The BBC has issued formal guidance to its
 journalists on how to report climate change.

Carbon Brief has obtained the internal four-page “crib sheet” sent yesterday to BBC journalists via an email from Fran Unsworth, the BBC’s director of news and current affairs. The crib sheet includes the BBC’s “editorial policy” and “position” on climate change.

All of the BBC’s editorial staff have also been invited to sign up for a one-hour “training course on reporting climate change”. Carbon Brief understands this is the first time that the BBC has issued formal reporting guidance to its staff on this topic.

Read the story by Leo Hickman from CarbonBrief - “Exclusive: BBC issues internal guidance on how to report climate change.”

Numurkah solar farm linked to world beating battery

The company wanting to establish the $175million solar energy farm Numurkah Solar Farm is a partner in the consortium involved in building the world’s largest lithium ion battery in South Australia.

This French company wants establish a
solar energy power station near Wunghnu.

The French company, Neoen, is seeking planning approval to build the 100MW solar farm on 500ha east of Wunghnu.

The same company is working with Tesla and the SA Government to install the huge 100MW lithium ion battery.

Neoen has four solar power generation plants already under construction in NSW alone — at Griffiths, Parkes, Narromine and Dubbo.

The company has a number of projects supported by funding through ARENA, a Federal Government agency set up to encourage renewable energy programs.

Read the story by Geoff Adams in the Country News - “Numurkah solar farm linked to world beating battery.”

Arena and AGL back 'world's biggest' virtual power plant for Adelaide

 About half the cost of a home’s energy bill is linked
to the network's cost recovery of it poles and wires.
 .

Adelaide will be home to the world’s largest “virtual power plant” – AGL is rolling out 1,000 battery systems to homes and businesses, with backing from the Australian Renewable Energy Agency (Arena).

AGL and Arena say the project will improve network security and dampen a volatile wholesale electricity price in South Australia. However, an energy expert says that at the current size, the system will have a minimal impact on network security or wholesale prices, but might pose a challenge to the revenues of companies that own the poles and wires.

Offered to homes and businesses with solar systems, the $20m AGL project, backed with $5m from Arena, will operate like a 5MW peaking power plant, providing power to homes and businesses during periods at optimal times.

The chief executive of AGL, Andy Vesey, told Guardian Australia: “The beauty of the project is it’s being done over 1,000 batteries, and that’s how we deliver an aggregate benefit to the grid itself.

Read Michael Slezak’s story on The Guardian - “Adelaide charges ahead with world’s largest 'virtual power plant'.”