14 April 2016, Climate News Network, Investors warned: Forget fossil fuels. Historic change heralded as investors are told they face losing their money if they continue to back the fossil fuel industry that is causing disastrous global warming. The head of a global philanthropic foundation says that the world turning away from fossil fuels is a critical moment in human history, akin to the abolition of slavery. Ellen Dorsey, executive director of the US-based Wallace Global Fund, told a packed conference in Oxford, UK, this week: “We are right in the middle of a transition − not to try to curb the burning of the fuels, but to end the fossil fuel industry altogether. The industry will be one for the history books, much like slavery” The conference, organised by the Divest Invest movement, was held to assess progress in convincing the financial sector that it will lose its money if it continues to invest in fossil fuels. The movement involves 500 organisations − with a combined wealth of more than $3.4 trillion − that have already pledged to divest from fossil fuels and invest in climate solutions. Sarah Butler-Sloss, founder director of the Ashden Trust, a leader in the field of green energy and sustainable development, opened the conference and stressed: “We are not making a sacrifice. We have gained money from not investing in fossil fuels.” Read More here
Monthly Archives: April 2016
13 April 2016, The Guardian, It’s settled: 90–100% of climate experts agree on human-caused global warming. There is an overwhelming expert scientific consensus on human-caused global warming. Authors of seven previous climate consensus studies — including Naomi Oreskes,Peter Doran, William Anderegg, Bart Verheggen, Ed Maibach, J. Stuart Carlton,John Cook, myself, and six of our colleagues — have co-authored a new paper that should settle this question once and for all. The two key conclusions from the paper are:
1) Depending on exactly how you measure the expert consensus, it’s somewhere between 90% and 100% that agree humans are responsible for climate change, with most of our studies finding 97% consensus among publishing climate scientists.
2) The greater the climate expertise among those surveyed, the higher the consensus on human-caused global warming.
Expert consensus is a powerful thing. People know we don’t have the time or capacity to learn about everything, and so we frequently defer to the conclusions of experts. It’s why we visit doctors when we’re ill. The same is true of climate change: most people defer to the expert consensus of climate scientists. Crucially, as we note in our paper: Public perception of the scientific consensus has been found to be a gateway belief, affecting other climate beliefs and attitudes including policy support. Read More here
13 April 2016, Inside Climate News, CO2’s Role in Global Warming Has Been on the Oil Industry’s Radar Since the 1960s. Historical records reveal early industry concern with air pollutants, including smog and CO2, and unwanted regulation. The oil industry’s leading pollution-control consultants advised the American Petroleum Institute in 1968 that carbon dioxide from burning fossil fuels deserved as much concern as the smog and soot that had commanded attention for decades. Carbon dioxide was “the only air pollutant which has been proven to be of global importance to man’s environment on the basis of a long period of scientific investigation,” two scientists from the Stanford Research Institute (SRI) told the API. This paper, along with scores of other publications, shows that the risks of climate change were being discussed in the inner circles of the oil industry earlier than previously documented. The records, unearthed from archives by a Washington, D.C. environmental law organization, the Center for International Environmental Law (CIEL), reveal that the carbon dioxide question—an obscure corner of research for much of the 20th century—had been closely studied since the 1950s by some oil company researchers. Read More here
13 April 2016, Vox, Why Peabody Energy, the world’s largest coal company, just went bankrupt. The US coal industry is imploding. And here’s the biggest casualty yet: Peabody Energy, the world’s largest private-sector coal company, filed for Chapter 11 bankruptcy in St. Louis on Wednesday. It’s hard to overstate what a seismic shift this is. Peabody has been a giant in the mining industry seemingly forever, after starting out in Chicago in 1880 with just a wagon and two mules. A decade ago, coal provided fully half of America’s electricity, much of it dug up by Peabody in Illinois, Kentucky, Wyoming, Colorado. At its peak in 2008, the company had a market cap of $20 billion, supplying coal to 26 countries worldwide. But then came the fall. The rise of fracking and cheap shale gas in the United States, coupled with stricter environmental regulations, has helped push hundreds of coal-fired power plants out of business in recent years. US coal production has nosedived from 1.17 billion metric tons in 2008 to just 752.5 million in 2016. Coal consumption in China, another crucial market, has also cooled off of late. Between 2012 and 2015, Peabody laid off more than 20 percent of its global workforceand started closing some of its US mines. Today, the company is saddled with $10.1 billion in debt and its future looks much bleaker than it once did. Hence the bankruptcy filing. Read More here