2 June 2016, The guardian, Spike in Alaska wildfires is worsening global warming, US says Report from US Geological Survey says northern wildfires must now be seen as significant driver of climate change, not just a side-effect. The devastating rise in Alaska’s wildfires is making global warming even worse than scientists expected, US government researchers said on Wednesday. The sharp spike in Alaska’s wildfires, where more than 5 million acres burned last year, are destroying a main buffer against climate change: the carbon-rich boreal forests, tundra and permafrost that have served as an enormous carbon sink. Northern wildfires must now be recognised as a significant driver of climate change – and not just a side-effect, according to the report from the US Geological Survey. “This is one of the surprises that we haven’t talked about much,” said Virginia Burkett, chief climate scientist at the USGS. “It has tremendous implications for the carbon that is locked up in Alaska soils and vegetation.” A record wildfire year – such as 2015 which was the worst in Alaska for a decade – had a measurable effect on the release of carbon dioxide and methane, which are the main drivers of climate change. “Our scientists found that the balance of carbon storage versus release in Alaska was strongly linked with wildfires,” Burkett said. “In years where there was high wildfire activity the net carbon balance declined dramatically, and then it would rebuild in the absence of fire.” Alaska is a far bigger storehouse for carbon than the lower 48 states, according to the USGS. The state’s boreal forests, peat-rich tundra, and permafrost hold about 53% of US carbon. Alaska accounts for about 18% of US land mass. Alaska currently absorbs about 3.7m tonnes of carbon a year, the USGS assessment found. But that vast storehouse of carbon has been breached by warming temperatures, thawing permafrost – and wildfire. Read More here
Yearly Archives: 2016
2 June 2016, YALE Climate Connections, U.N., UCS Point to Risks to World Heritage Sites. Australia concerns lead to holding-back case study on Great Barrier Reef, so Union of Concerned Scientists posts it independently. Climate impacts seen posing risks to sites . . . and to tourism. Sometimes, too often in fact, it’s not what’s included in the text of a report that captures the attention. It’s what’s omitted from that report, often not mistakenly. That’s a lesson learned and re-learned in the public policy field, but apparently not really absorbed in many cases. Those who internalized the lessons from the early-70s Watergate scandal that led to President Nixon’s resignation know well that it’s the cover-up, more so than the initial offense, that is the real crime. Only slightly more recently, the original “Jaws” in 1975 taught a similar lesson, as the fictional Amity Island town council sought to silence the truth in an effort to protect its tourism financial interests. 
News Analysis and Commentary Advance now to a new report, “World Heritage and Tourism in a Changing Climate,” released May 26 by two United Nations agencies and the Union of Concerned Scientists, UCS. In a somewhat dual-personality report that at times seems as concerned tourism as with impacts of climate change, the report paints a dire image of 31 natural and cultural World Heritage sites in 29 countries around the world. Around the world, that is, save for Australia and its, ahem, rather important Great Barrier Reef (GBR), by any practical measure a worthy entry among top-ranking heritage and tourism sites. And clearly one with observed and serious impacts from rising ocean temperatures, increased acidification, and continuing carbon dioxide emissions. It ends up that the Australian government prevailed on the U.N. and its United Nations Educational, Scientific and Cultural Organization and United Nations Environment Program to omit any reference to GBR. Those Sydney folks must never have seen “Jaws.” Read More here Also access missing chapter here
30 May 2016, The Guardian, Homeowners kept in dark about climate change risk to houses, says report. Climate Institute says risk data held by regulators, state and local governments, insurers and banks, but homebuyers and developers do not have access to it. The risk that houses in some areas of Australia are likely to become uninsurable, dilapidated and uninhabitable due to climate change is kept hidden from those building and buying property along Australia’s coasts and in bushfire zones, a Climate Institute report says. The report says there is untapped and unshared data held by regulators, state and local governments, insurers and banks on the level of risk, but that most homebuyers and developers are not told about the data and do not have access to it. The full scale of risk may only be recognised through disaster or damage, or when insurance premiums become unaffordable Climate Institute report. “Even when public authorities, financial institutions and other stakeholders possess information about current and future risk levels, they are sometimes unwilling, and sometimes unable, to share it with all affected parties,” the report released on Monday says. “Thus, foreseeable risks are allowed to perpetuate, and even to grow via new housing builds. The full scale of the risk may only be recognised either through disaster or damage, or when insurance premiums become unaffordable. Any of these events can in turn affect housing values.” The economic costs are high and could ultimately represent a real risk to the financial sector itself, the report says. While insurers, regulators and governments have started to recognise this risk, banks who approve the mortgages for at-risk properties have not yet begun working towards a solution. For example, the report says, banks could integrate the impact of climate into their risk assessment processes, work with other stakeholders in the public, private and civil society sectors to research and develop ways to minimise climate impact risk to housing, and address losses that will occur in an equitable way. Read More here
24 May 2016, Renew Economy, Debt-ridden India energy group drops mention of Galilee Basin projects. India energy group GVK Power & Infrastructure last weekend reported its year-to-March 2016 results, detailing its fourth consecutive annual loss, but it’s most telling component is the information it did not provide. Its accounts make no mention of the Alpha, Alpha West and Kevin’s Corner coal mines and associated infrastructure proposal for the Galilee Basinin northern Australia —projects GVK has long been promoting, and which it bought its controlling share from the Hancock group. The company is in financial distress. Net debt increased US$435 million to a record high of US$3.5 billion. In contrast, shareholders equity shrank 30 percent year on year to US$202 million. Earnings Before Interest and Tax (EBIT) covered just 36 percent of the US$321m of net interest expense for 2015-16. Into its sixth year, the Alpha project has made no measurable progress, and financial close remains elusive and distant while the coal market is as structurally challenged as ever. With India Energy Minister Piyush Goyal remaining committed to the target for India to aggressively cut thermal coal imports, any strategic merit of this proposal for India has lapsed. Consistent with this, NTPC Ltd this month reiterated its plans to cease thermal coal imports in the current 2016-17 year. The slump in the book value of shareholders means net debt is 17 times equity, and that is before any impairment of the highly financially leveraged and stranded Alpha coal proposal in Queensland. The results make no mention of this off-balance-sheet US$1 billion-plus investment that is entirely debt funded. Read More here