27 May 2015, Renew Economy, Garnaut: Cost of stranded assets already bigger than cost of climate action. This is one carbon budget that Australia has already blown. Economist and climate change advisor Professor Ross Garnaut has delivered a withering critique of Australia’s economic policies and investment patterns, saying the cost of misguided over-investment in the recent mining boom would likely outweigh the cost of climate action over the next few decades. Read More here See Prof. Ross Garnaut’s full submission here
Yearly Archives: 2015
24 May 2015, Los Angeles Times: Turning sewage into drinking water gains appeal as drought lingers. ‘s a technology with the potential to ease California’s colossal thirst and insulate millions from the parched whims of Mother Nature, experts say. But there’s just one problem — the “yuck factor.” As a fourth year of drought continues to drain aquifers and reservoirs, California water managers and environmentalists are urging adoption of a polarizing water recycling policy known as direct potable reuse. Unlike nonpotable reuse — in which treated sewage is used to irrigate crops, parks or golf courses — direct potable reuse takes treated sewage effluent and purifies it so it can be used as drinking water. It’s a concept that might cause some consumers to wince, but it has been used for decades in Windhoek, Namibia — where evaporation rates exceed annual rainfall — and more recently in drought-stricken Texas cities, including Big Spring and Wichita Falls. Read More here
22 May FastFT: Axa to ditch coal investments by the end of 2015. Axa, one of the world’s largest insurers, has become the first global financial institution to shun investments in coal companies. The French group, which has more than $1trn in assets under management, will sell EUR500m of coal assets between now and the end of the year, its chief executive, Henri de Castries, said at a business and climate change conference in Paris on Friday, reports Pilita Clark, environment correspondent. It will also invest EUR3bn in renewable energy between now and 2020. The move makes the French group by far the biggest recruit to an international fossil fuel divestment campaign that aims to stigmatise the use of coal, oil and gas because of their impact on the climate. Read More here