Morgan Stanley Targeted Over Coal Financing

Earlier this year, Bank of America and Credit Agricole both announced they were moving away from financing coal, citing a number of factors, among them the threat of future regulation due to coal’s impact on the planet and human health and pressure from environmental activists.

Now the Rainforest Action Network is targeting Morgan Stanley with calls to meet or beat its Wall Street colleagues’ commitments by adopting policies to end its financing for companies involved in coal mining and coal-fired power.

Report: How Coal and Gas Industry Get Their Way In Fossil Fuel Rich Queensland

abbot point, queensland

Where and how should the public expect negotiations between fossil fuel industries and governments be carried out?

What kind of relationships should exist between fossil fuel corporations and the politicians and public servants who are part of the decision-making process that those corporations seek to influence?

Should reasonable details of those negotiations be recorded and take place in government offices, during office hours? Should lobbying by industry and companies be available for public scrutiny?

When a government awards a licence to dig up and sell fossil fuels, those decisions represent the transfer of assets from public to private hands worth billions of dollars.

With that in mind, you might expect the answers to all those questions to reflect the highest levels of accountability and transparency.

But in Queensland, Australia’s biggest exporter of coal, this accountability and transparency appears to be lacking.

The Australia Institute has published a report – Too close for comfort: How the coal and gas industry get their way in Queensland - detailing the complex interactions between the coal and gas industries in Queensland and the state’s previous governments.

The report, researched and written by me and paid for by the institute, explores some of the close relationships between lobbyists, politicians, public servants and fossil fuel industry executives.

Banks Warned Against Financing Share Sale Of Coal India

The government of India still owns a majority share of Coal India Limited after selling off a 10% stake earlier this year to raise revenue. Now it’s looking to offload even more shares of the company to private investors — but critics of the company are warning that the company’s share price comes with ties to numerous unresolved environmental and human rights abuses.

Before any shares can be sold, the Indian government needs to hire someone to bring them to the market. Environmental and social justice activists have warned the banks that if they're considering doing business with Coal India, they might want to familiarize themselves with the experiences of the last banks that worked with the company.

EU Ombudsman Investigating Industry-Dominated Fracking Expert Group

The European Ombudsman has opened a case into the European Commission's industry-dominated Expert Group on the risky and dangerous practice of fracking for natural gas.

The Ombudsman, responsible for investigating complaints about maladministration in EU institutions and bodies, is looking into allegations that the Commission “wrongly allowed members associated with the shale gas industry to act as chairmen of the European Science and Technology Network on Unconventional Hydrocarbon Extraction.”

Despite massive public opposition to fracking, the Commission established the European Science and Technology Network on Unconventional Hydrocarbon Extraction last July with a mandate to recommend the most appropriate fracking techniques and technologies for Europe.

Prime Minister Harper’s Inaction on Climate Killed the Keystone XL Oilsands Pipeline

Stephen Harper climate change

With U.S. President Barack Obama expected to deny a permit to the Keystone XL pipeline this fall, Canada’s oil industry is looking for someone to blame.

The National Post’s Claudia Cattaneo wrote last week that “many Canadians … would see Obama’s fatal stab as a betrayal by a close friend and ally” and that others “would see it as the product of failure by Stephen Harper’s Conservative government to come up with a climate change plan.”

The latter is the more logical conclusion. Obama has made his decision-making criteria clear: he won’t approve the pipeline if it exacerbates the problem of carbon pollution.

Even the U.S. State Department’s very conservative analysis states the Keystone XL pipeline would “substantially increase oilsands expansion and related emissions.” The Environmental Protection Agency has agreed.

While Canada’s energy reviews take into account “upstream benefits” — such as jobs created in the oilsands sector as a result of pipelines — they don’t even consider the upstream environmental impacts created by the expansion of the oilsands.

For all the bluster and finger-pointing, there’s no covering up the fact that Canada’s record on climate change is one of broken promises.

100 Days Before The UN Climate Talks – Reasons To Be Cheerful. And Reasons Not To

This article by Alice Bell, writer and researcher on science, technology and the environment, has been reposted from The Road to Paris.

It’s less than 100 days before the big UN climate talks in Paris. How does that feel? Concerned, excited, or just a bit meh?

Are we kneeling at the seat of history? Are we finally about to save the planet? Or is it all the same business as usual which we know is already hurtling us to six degree warming? Here’s four reasons to feel good about the Paris climate talks, and four reasons for concern.

California Public Pension Funds Lost $5 Billion On Fossil Fuel Investments In One Year

Two of California’s massive public pension funds lost more than $5 billion on investments in coal, oil and natural gas in just 12 months.

According to a report released by environmental group, the California Public Employees' Retirement System (CalPERS) lost $3 billion and the California State Teachers’ Retirement System (CalSTRS) lost $2.1 billion from their holdings in the top 200 fossil fuel companies between June 2014 and June of this year.

Combined, the two funds lost a total of $840 million from their stock investments in coal companies alone — one-fourth of the value of their coal holdings.

Matt 'King Coal' Ridley Admits Fossil Fuel Investments May Cloud Views on Climate Change

Matt ‘King Coal’ Ridley was seriously concerned that his vested interests in open cast mining would cloud his judgement on climate science, the Tory peer confirmed in a remarkable interview.

The member of the House of Lords, famous author, and self-styled climate ‘lukewarmer’ also admits that he has not read widely on the science of global warming and is likely to be guilty of selection bias.

Ridley claims that he had originally believed climate scientists who claimed fossil fuels were causing dangerous climate change – despite the fact he was at the time profiting from coal mining.

The US Installed More Than Twice As Much Solar and Wind As Fossil Fuel Electricity So Far In 2015

Throughout the entire first half of 2015, solar and wind energy accounted for 2,518 megawatts of new electricity generating capacity brought online in the US — some 65 percent of all new capacity added so far this year.

Coal accounted for a mere 3 MW during that time period, while natural gas accounted for 1,173 MW (there was no new oil). That’s less than half the amount of solar and wind energy added January to June. Wind alone, at 1,969 MW, was more than all fossil fuels combined.

Blankenship Lawyers Fight To Keep Mine Explosion Discussion Out Of Criminal Trial

As jury selection begins for the trial of coal baron Don Blankenship, his team of lawyers are doing everything possible to prevent prosecuting attorneys from mentioning the Upper Big Branch mine explosion that claimed the lives of 29 mine workers.

Blankenship is currently awaiting trial on charges of conspiring to violate mine safety standards and making false statements. These charges are what ultimately led to the mine disaster, but Blankenship has not been charged for that explosion.


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