Kevin Grandia's blog

Oil Companies Gambling Billions of Dollars Ignoring Global Warming Realities

Companies like Shell Oil really need to give their eyes a rub and see that a world with serious constraints on greenhouse gas emissions is not a possible future, but an eventual reality.

Right now, oil companies are investing billions in long term plays in very carbon intensive fuels, like Canada's oil sands, while at the same time there are more and more signs that strict regulations on such operations are on the near horizon.

You don't need to look much further than the years of delays on the Keystone XL pipeline to see that governments are starting to second guess these big cash layouts on climate-risky projects. 

Or take for instance, the federal court ruling last week that halted a proposed coal mining operation in Colorado stating that the “social costs” of contributions the mine would make to worsening impacts of climate change in the future were not taken into consideration.

This ruling on the grounds of future social costs should be a 'canary in the coal mine' wake-up call for companies still considering investing big dollars in long-term carbon-intensive projects.

Pope Francis a Powerful Voice For Climate Change Action

Pope Francis, the leader of the Catholic Church, has taken a very strong stance recently on the need to address climate change, to protect the environment and respect “God's creation.” 

In an address at the University of Molise in Italy, Pope Francis talked about deforestation practices that have destroyed much of the world's rainforests in places like the Amazon Basin.

Francis told the crowd that:

Republican Senator Inhofe Dismisses Top US Military Strategists on Climate Change Concerns

Republican Senator James Inhofe (R-OK), is dismissing a report out yesterday on the human security threats of climate change, authored by 11 three and four-star US Admirals and Generals, saying the group is desperate for “publicity.” 

The report, National Security and the Threat of Climate Change, issued by the non-profit group CNA Corporation, concludes that:

~ Projected climate change poses a serious threat to America's national security. 

~ Climate change acts as a threat multiplier for instability in some of the most volatile regions of the world.

~ Projected climate change will add to tensions even in stable regions of the world.

~ Climate change, national security and energy dependence are a related set of global challenges.

One of the reports authors, Gen. Charles F. Wald told the New York Times that:

In the past, the thinking was that climate change multiplied the significance of a situation. Now we’re saying it’s going to be a direct cause of instability.”

The report authors are all retired high-ranking US military — eleven retired three-star and four-star Admirals and Generals.

Senator Inhofe is dismissing the collective wisdom of this group, telling the New York Times that:

There is no one in more pursuit of publicity than a retired military officer. I look back wistfully at the days of the Cold War. Now you have people who are mentally imbalanced, with the ability to deploy a nuclear weapon. For anyone to say that any type of global warming is anywhere close to the threat that we have with crazy people running around with nuclear weapons, it shows how desperate they are to get the public to buy this.”

Over the years Senator Inhofe has made his delusion around the realities of climate change famous by making public proclamations like “global warming is the greatest hoax ever perpetrated on the American people.” 

New Global Study Finds Canada Lagging Behind China on Climate Change Legislation

pollution from syncrude plant in the Alberta oilsands

A frequently used talking point from Prime Minister Stephen Harper is that Canada will only tackle the issue of climate change if countries like China agree to take action as well. 

Looks like that time has come.

A new study released this week that examines nearly 500 pieces of legislation in 66 countries finds Canada lags behind many countries, including China, when it comes to advancing a plan to reduce climate change pollution and fossil fuel usage. 

According to Globe International, the organization behind the study, Canada currently “has no comprehensive federal climate change legislation.”

In China on the other hand, “it was announced in 2010 at the GLOBE International legislators’ forum in Tianjin that China would begin work on [climate] legislation. A first formal draft of the law is expected to be produced in early 2014, after which a comprehensive formal consultation will begin with government ministries, industry and other stakeholders, with passage likely by 2015.”

Survey Lists the Best and Worst Financial Funds When it Comes to Climate Change Risk

Is your pension fund or insurance company a leader or laggard when it comes to avoiding risky bets on the future impacts of climate change?

A new survey released today finds that many major institutional investors, like retirement funds and insurance companies, are putting their investments (read: your money) at risk by not addressing the negative financial impacts posed by climate change and atmospheric disruption.

The survey, called the Global Climate Investment Risk, is based on data acquired from 460 funds who were invited to provide data, either from members of those funds or using publicly available information. Each fund is rated from AAA to X based on investment mix and recognition of the financial risks that climate change will have now and into the future.

Conducted by the Asset Owners Disclosure Project (AODP), the survey concludes that, of the 460 funds, only 5 received a AAA rating, while 173 funds are rated “X.”

Canadian Government at Warsaw Climate Talks a Waste of Taxpayers Dollars

All week people have been coming by the press center here at the COP-19 UN climate negotiations asking, “Hey Kevin, why are you just sitting there playing with that pencil?” I sigh and reply, “Just waiting for Canada to do something… anything.” 

Finally, Canada's Environment Minister showed up Wednesday to make a statement. But, not surprisingly, the Minister's words were a far cry from reality. 

It used to be easy to write about Canada from UN climate negotiations. There was always some outrageous story to cover about how Canada was blocking progress or making life miserable for countries trying to actually make headway. But it has become a lot harder here at the negotiations underway right now in Warsaw, Poland.

At this round of climate negotiations Canadian negotiators are doing nothing. Literally.

Pages

Subscribe to RSS - Kevin Grandia's blog