InsideClimateNews.org -- An oil company's track record on spills—and whether it is prepared for future accidents—has become increasingly important to investors now that oil exploration and extraction is moving offshore and into risky areas like the Arctic or South America.
That's the message of an analysis released this week by MSCI Inc., a New York-based investment research firm. It rated 30 of the world's largest oil and gas companies on their investment attractiveness based on their history of spills and environmental management, as well as the riskiness of the areas they are exploring. BP and Chevron were singled out as companies that are poorly positioned in this area. The Norwegian company Statoil and Britain's BG were found to be the best positioned for a riskier era of drilling.Read more »
The reality of a world with more extreme weather events, rising seas, and longer droughts is becoming clearer by the day. Even more troubling is that we are on course for still greater changes to our planet in the years ahead.
That’s the key takeaway from a major new report from the World Bank, which examines the impact of a 4 degree Celsius (7.2 degree Fahrenheit) warmer world. At the same time, a new analysis by World Resources Institute (WRI) finds there are nearly 1,200 proposed coal plants worldwide. If these plants come online, our chances of staying within 2 degrees of warming—the level recommended to prevent the worst consequences of climate change—would be nil.Read more »
InsideClimateNews.org (Bonn, Germany) — On the afternoon of April 29, 1986, West Germany's Interior Minister Friedrich Zimmermann walked out of a meeting with the Commission on Radiological Protection and spoke to a TV reporter.
"There is no danger," Zimmermann assured millions of anxious viewers. "Chernobyl is 2,000 kilometers away."Read more »
In the halting, measured language we’ve come to expect from his impromptu public remarks, President Obama posed a core dilemma of climate change yesterday at his first post-election press conference. Explaining the possible repercussions of failing to act now, he said, climate change “is going to have an impact and a cost down the road, if we don't do something about it."
Whether to pay for an energy transformation now, or take our chances with climate impacts and costs "down the road," is a key, polarizing economic question within climate change policy. Another way of framing it is this: What's the future worth to you?Read more »
When companies pollute the environment, support corrupt governments, or allow executives to make drastic decisions with little oversight, they put their business at risk. That’s why institutional investors are now employing sustainable investing strategies in more than $3.7 trillion of investments -- a 22 percent increase in two years, a study found.
Hospitals, retirees, pensions, banks and religious institutions used sustainable and responsible investing (SRI) strategies for $1 out of every $9 invested in the U.S. at the end of 2011, according to the report, released yesterday by US SIF, a Washington-based nonprofit that tracks SRI investing on behalf of member investors. Total investments guided by such strategies increased six-fold since 1995.Read more »
NASA scientists produced this image to study the behavior of aerosols -- tiny airborne particles -- in the Earth's climate system. Dust, in red, is lifted from the surface. Sea salt, in blue, swirls inside cyclones. Smoke, in green, rises from fires. Sulfate particles, in white, stream from volcanoes and fossil fuel emissions, NASA writes.
Visit www.bloomberg.com/sustainability for the latest from Bloomberg News about energy, natural resources and global business.Read more »
InsideClimateNews (Berlin) -- The view from the Reichstag roof on a sun-drenched spring afternoon is spectacular. Looking out over Berlin from the seat of the German government, you can see the full sweep of the nation's history: from Humboldt University, where Albert Einstein taught physics for two decades, to the site of the former Gestapo headquarters.
I'm not here to see this country's freighted past, however. I've come to learn about what a majority of Germans believe is their future—and perhaps our own. There is no better place to begin this adventure than the Reichstag, rebuilt from near ruins in 1999 and now both a symbol and an example of the revolutionary movement known as the Energiewende. The word translates simply as, "energy change." But there's nothing simple about the Energiewende. It calls for an end to the use of fossil fuels and nuclear power and embraces clean, renewable energy sources such as solar, wind and biomass. The government has set a target of 80 percent renewable power by 2050, but many Germans I spoke with in three weeks traveling across this country believe 100 percent renewable power is achievable by then.Read more »
InsideClimateNews.org (Zingst, Germany) —"What an eyesore, huh?" the man standing next to me on the beach said, nodding in the direction of a little girl flying a kite. The man, in his mid-40s, seemed to enjoy my confusion. He waited a beat before pointing beyond the girl, far out into the Baltic Sea. "There," he said, smiling to make sure I understood his sarcasm. "The 'ugly' wind farm."
Staring hard, it was barely possible to make out the turbines on the horizon. Ten miles from shore, the Baltic 1 Wind Farm seemed as small and insubstantial as the scruffy grass along the coast. But, in fact, each of the nearly two dozen turbines is as tall as a 27-story building and has fiberglass epoxy blades nearly 150 feet long. Work has already begun on wind farms with even larger turbines that will generate twice the power of those at Baltic 1, enough to supply 250,000 households with electricity.Read more »
World Resources Institute -- With President Obama’s re-election, he has the opportunity to extend his legacy and take on big challenges. Climate change stands high on the list of issues that need to be addressed. As the President said in his acceptance speech:
“We want our children to live in an America that isn’t burdened by debt, that isn’t weakened by inequality, that isn’t threatened by the destructive power of a warming planet.”
In the final days of the campaign, Hurricane Sandy provided a wake-up call about the impacts of climate change. Recent extreme weather and climate events make clear that ignoring climate change will be costly in human, environmental, and economic terms for the United States and the world. How President Obama addresses climate and energy issues will help define his legacy.Read more »
Agriculture and industry produce huge amounts of leftover carbon -- hiding in the tips and branches of trees, stalks, husks and other plant material. If only there was a way to put it to good use.
Kior Inc. announced today the opening of its first commercial-scale plant designed to do just that. The facility, located in Columbus, Mississippi, at full capacity will take in 500 tons of biomass a day and transform it into what sounds like a contradiction in terms -- 40,000 gallons a day of gasoline and diesel that could help companies meet their renewable energy goals or mandates. Kior's next plants may be at least three times as large. The company’s technology uses catalysts to vaporize biomass, removing the oxygen and condensing the remainder to oil that can be refined into cellulosic gasoline, diesel and jet fuel. Silicon Valley powerhouse Khosla Ventures owns more than half of the five-year-old company, which is based in Pasadena, Texas.Read more »