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Sat, 2014-10-18 06:10Chris Rose
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Fossil Fuel Lobby Spent $213 Million Last Year to Influence US, EU Politicians

Fossil fuel industries spent an estimated $213 million lobbying U.S. and European Union decision makers last year, according to a new report published by Oxfam International on Friday.

In the U.S. alone, the estimated 2013 bill for lobbying activities by fossil fuel interests amounted to $160 million, said the report called Food, Fossil Fuels and Filthy Finance.

In addition, the 40-page report said, the global fossil fuel sector receives approximately $1.9 trillion in subsidies each year.

In the absence of robust climate legislation, finance continues to flow unabated into the fossil fuel industry,” the report said. “At the current rate of capital expenditure, the next decade will see over $6 trillion allocated to developing the fossil fuel industry.”

The world produces enough food to feed everyone, the report said, but every day more than 800 million people go to bed hungry.

This is a scandal – and climate change is set to make things even worse,” the report added. “Fossil fuels are the single biggest driver of climate change; if the world is to avoid exceeding dangerous global warming of 2°C, up to 80 per cent of known fossil fuel reserves need to stay in the ground.”

Wed, 2014-10-15 02:00Chris Rose
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Europe Poised to Press Ahead on Drastic Greenhouse Gas Reductions As Other Nations Lag Behind

Solar farm

Pressure continues to grow for European politicians to agree to further reductions of greenhouse gas emissions between now and 2030.

The European Union’s 2020 climate and energy package, which is binding legislation, calls for emissions to be cut by 20 per cent from 1990 levels by 2020. In addition, the plan calls for energy efficiency savings of 20 per cent and a 20 per cent increase in renewable energy technologies.

While the European Union seems largely on track to meet those targets, later this month politicians are going to vote on even greater emissions reductions, energy savings and growth in renewables by 2030.

In January, the European Commission, the executive arm of the EU, published the 2030 policy framework for climate and energy.

Despite six years of economic uncertainty, the plan includes targets to reduce EU domestic greenhouse gas emissions by 40 per cent below the 1990 level by 2030, which would ensure that Europe would meet its objective of cutting emissions by at least 80 per cent by 2050.

Mon, 2014-10-13 13:29Chris Rose
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US Defense Secretary Hagel Outlines Military's Response to Climate Change "Threat Multiplier"

While U.S. politicians continue to disagree on global warming and its potentially catastrophic consequences, Defense Secretary Chuck Hagel has just released a report saying climate change will have serious implications for national security.

Rising global temperatures, changing precipitation patterns, climbing sea levels, and more extreme weather events will intensify the challenges of global instability, hunger, poverty, and conflict,” Hagel said in the introduction to the report — Department of Defense: 2014 Climate Change Adaptation Roadmap.  

They will likely lead to food and water shortages, pandemic disease, disputes over refugees and resources, and destruction by natural disasters in regions across the globe.”

Hagel said the U.S. military refers to climate change as a “threat multiplier” because it has the potential to exacerbate many of today’s challenges – from infectious disease to terrorism.

He also said a changing climate will have significant impacts on the military and the way it executes its missions, including supporting civil authorities and providing humanitarian assistance and disaster relief in the face of more frequent and more intense natural disasters.

Mon, 2014-10-13 08:00Chris Rose
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New Report: Who Will Pay for the Costs and Damages of Climate Change?

people's climate march, zack embree

Canadian oil and gas companies could be liable for billions of dollars of damages per year for their contribution to climate change caused by toxic greenhouse gas emissions, according to a study published Thursday.

The study looked at five oil and gas companies currently trading on the Toronto Stock Exchange — Encana, Suncor, Canadian Natural Resources, Talisman, and Husky — and found they could presently be incurring a global liability as high as $2.4 billion annually.

Climate change is increasingly discussed not as some far-off threat but in terms of current realities,” said the 62-page study — Payback Time? What the internationalization of climate litigation could mean for Canadian oil and gas companies.

Published by the Canadian Centre for Policy Alternatives and West Coast Environmental Law (WCEL), the study found data showing the global financial cost of private and public property and other damage associated with climate change in 2010 has been estimated at $591 billion, rising to $4.2 trillion in 2030.

Wed, 2014-10-01 13:00Chris Rose
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Tide Turning Against Global Coal Industry: New Report

Coal plant

Coal, the fossil fuel that largely sparked the industrial revolution, may be facing the beginning of the end — at least in terms of generating electricity.

There are increasing signs of the demise of the world’s dirtiest fossil fuel, from a global oversupply to plummeting prices to China starting to clean up its polluted air.

Last week, the Carbon Tracker Initiative published an analysis — Carbon Supply Cost Curves: Evaluating Financial Risk to Coal Capital Expenditures — identifying major financial risks for investors in coal producers around the world.

Saying the demand for thermal coal in China, the world’s largest emitter of toxic greenhouse gases, could peak as early as 2016, the analysis also highlights $112 billion of future coal mine expansion and development that is excess to requirements under lower demand forecasts.

Sun, 2014-09-28 11:00Chris Rose
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Global Warming Pollution on the Rise, CO2 Set to Hit 40 Billion Tons in 2014

Atmospheric carbon dioxide emissions, the main contributor to global warming, are set to rise again in 2014 – reaching a record high of 40 billion tonnes, according to a new report.

The latest annual update of the Global Carbon Budget (GCB) shows that the projected rise of 2.5 per cent in burning fossil fuels and cement production this year follows a 2.3 per cent increase in 2013, a then record high of 36 billion tonnes.

The GCB said the 2013 emissions were the highest in human history and 61 per cent higher than in 1990 (the Kyoto Protocol reference year). In 2013, the GCB added, coal burning was responsible for 43 per cent of the total emissions, oil 33 per cent, gas 18 per cent and cement 5.5 per cent.

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