What you will find on this page: LATEST NEWS; Fossil fuel emissions have stalled; Mapped: global coal trade; Complexity of energy systems (maps); Mapped: Germany’s energy sources (interactive access); Power to the people (video); Unburnable Carbon (report); Stern Commission Review; Garnaut reports; live generation data; fossil fuel subsidies; divestment; how to run a divestment campaign guide; local council divestment guide; US coal plant retirement; oil conventional & unconventional; CSG battle in Australia (videos); CSG battle in Victoria; leasing maps for Victoria; coal projects Victoria
Huge task to decarbonise
Source: Australian Delegation presentation to international forum held in Bonn in May 2012
Latest News 19 March 2019, The Guardian, Toyota’s Altona site to become hydrogen production and refuelling centre. Toyota and the Australian Renewable Energy Agency (Arena) will kick in $7.4m to transform part of the carmaker’s decommissioned car manufacturing site in Altona into a commercial-grade hydrogen production and refuelling site. The new centre will demonstrate the processes required to produce hydrogen from renewable sources through electrolysis, and then the subsequent compression and storage. Arena says the centre, once operational, will produce at least 60kg of renewable hydrogen each day, with onsite solar PV and battery storage providing electricity to support the energy requirements of the project. The president and chief executive of Toyota Australia, Matt Callachor, says the new centre on the Altona site will contribute to the carmaker meeting its target of zero CO2 emissions from sites and vehicles by 2050. “Hydrogen has the potential to play a pivotal role in the future because it can be used to store and transport energy from wind, solar and other renewable sources to power many things, including vehicles like the Toyota Mirai fuel cell electric vehicle,” Callachor said. Read more here 26 February 2019, Conversation, Eighteen countries showing the way to carbon zero. Eighteen countries from developed economies have had declining carbon dioxide emissions from fossil fuels for at least a decade. While every nation is unique, they share some common themes that can show Australia, and the world, a viable path to reducing emissions. Global CO₂ emissions from fossil fuels continue to increase, with record high emissions in 2018 and further growth anticipated for 2019. This trend is linked to global economic growth, which is largely still powered by the burning of fossil fuels. Significant reductions in the energy and carbon intensities of the global economy have not been sufficient to trigger decreases in global emissions. But 18 countries have been doing something different. A new analysissheds light on how they have changed their emission trajectories. There is no “silver bullet”, and every country has unique characteristics, but three elements emerge from the group: a high penetration of renewable energy in the electricity sector, a decline in energy use, and a high number of energy and climate policies in place. Something is working for these countries. Read more here 24 August 2018, The Conversation, How hydrogen power can help us cut emissions, boost exports, and even drive further between refills. Hydrogen could become a significant part of Australia’s energy landscape within the coming decade, competing with both natural gas and batteries, according to a new CSIRO roadmap for the industry. Hydrogen gas is a versatile energy carrier with a wide range of potential uses. However, hydrogen is not freely available in the atmosphere as a gas. It therefore requires an energy input and a series of technologies to produce, store and then use it. Why would we bother? Because hydrogen has several advantages over other energy carriers, such as batteries. It is a single product that can service multiple markets and, if produced using low- or zero-emissions energy sources, it can help us significantly cut greenhouse emissions. Compared with batteries, hydrogen can release more energy per unit of mass. This means that in contrast to electric battery-powered cars, it can allow passenger vehicles to cover longer distances without refuelling. Refuelling is quicker too, and is likely to stay that way. The benefits are potentially even greater for heavy vehicles such as buses and trucks which already carry heavy payloads, and where lengthy battery recharge times can affect business models. Read more here 25 July 2018, The Guardian, South Australia on track to meet 75% renewables target Liberals promised to scrap. Liberal energy minister, who inherited policy criticised as a mix of ‘ideology and idiocy’, says he’ll ensure it does not come at too high a price. South Australia’s energy minister says the state is on track to have 75% of its electricity from renewable sources by 2025 – the target set by the former Labor premier Jay Weatherill and once rejected by his Liberal government. And Dan van Holst Pellekaan pledged to ensure it does not come at too high a price. The Liberal party was highly critical of Weatherill’s target when it was announced during this year’s South Australian election campaign, with the then state opposition leader, Steven Marshall, pledging to scrap it and the federal energy minister, Josh Frydenberg, likening the then premier to a clean energy addicted gambler “doubling down to chase his losses”. Prime minister Malcolm Turnbull had earlier described Weatherill’s renewable energy policy as “ideology and idiocy in equal measure”. But several expert analyses have found the state is likely to meet or nearly meet the aspirational target, which was not tied to a policy mechanism. The Australian Energy Market Operator has projected South Australia would have 73% renewable power by 2020/21 while consultants Green Energy Markets found it could reach 74% by 2025 without any additional policies being introduced. The South Australian energy and mining minister, Dan van Holst Pellekaan, said that was also his understanding. “That’s what the reports I’ve read are saying,” he said. “We need to harness it properly so consumers aren’t paying too high a price along the way.” Read more here 3 June 2019, The Conversation, Explaining Adani: why would a billionaire persist with a mine that will probably lose money? By mid-June, if everything goes as expected, Adani Australia will receive the final environmental approvals for its proposed Carmichael coal mine and rail line development. Newspaper reports based on briefings from Adani suggest that, once the approvals are in place, the company could begin digging “within days”. On Friday the Queensland government approved Adani’s plan to protect a rare bird, apparently leaving it with just final regulatory hurdle: approval for its plan to manage groundwater. Its billboards in Brisbane read: “We can start tomorrow if we get the nod today”. But several big obstacles remain. Even after governments are out of the way, it will have to deal with markets and companies that aren’t keen on the project. Read more here 6 June 2019, The Conversation, Whichever way you spin it, Australia’s greenhouse emissions have been climbing since 2015. Let me explain how to see through the spin on Australia’s rising greenhouse emissions figures. With the release today of Australia’s emissions data for the December 2018 quarter, federal energy and emissions reduction minister Angus Taylor has been more forthcoming than usual about the rising trend in Australia’s emissions. There’s one small issue, though. Despite Taylor’s comments in which he sought to explain away Australia’s 0.7% year-on-year rise in emissions as a product of increased gas investment, actual emissions in the December quarter were in fact down relative to the September 2018 quarter. This is due mainly to the fact that people use much more energy for heating in the July-September period than they do during the milder spring weather of October-December. Taylor, meanwhile, was discussing the “adjusted” data, which reveals an 0.8% increase between the two quarters. This might all sound like minor quibbling. But knowing the difference between quarterly and annual figures, and raw and adjusted data – and knowing what’s ultimately the most important metric – is crucial to understanding Australia’s emissions. And it might come in handy next time you’re listening to a politician discussing our progress (or lack thereof) towards tackling climate change. Read more here 13 May 2019, Renew Economy, Global fossil fuel subsidies reach $5.2 trillion, and $29 billion in Australia. New analysis commissioned by the International Monetary Fund has shown that global fossil fuel subsidies continue to grow, despite the growing urgency of the need to decarbonise the global economy. The working paper prepared by the IMF Fiscal Affairs Department estimated that, in 2017, global fossil fuel subsidies grew to $5.2 trillion, representing 6.5 per cent of combined global GDP. China leads all countries in the level of subsidies provided to fossil fuels, which the IMF report estimated to total $1.4 trillion in 2015. The United States followed with $649 billion in subsidies, Russia with $551 billion and the EU with $289 billion. The IMF estimates that annual energy subsidies in Australia total $29 billion, representing 2.3 per cent of Australian GDP. On a per capita basis, Australian fossil fuel subsidies amount to $1,198 per person. Australia ranked below most countries for mortality rate from pollution related illnesses, with the IMF attributing 2.6 deaths per 1,000 in Australia to local air pollution associated with fossil fuels. This is less than half the rate observed in China (5.3 deaths per 1,000) and significantly below Russia (10.0 deaths per 1,000) and the Ukraine (16.0 deaths per 1,000), where little by way of regulation exists to protect people from air pollution. The IMF found that the removal of fossil fuel subsidies would have significant economic benefits, including improved budget bottom-lines for governments. The net benefits of eliminating fossil fuel subsidies would amount to 1.7 per cent of global GDP. Read more here 20 March 2019, Desmog Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact. A report published today names the banks that have played the biggest recent role in funding fossil fuel projects, finding that since 2016, immediately following the Paris Agreement’s adoption, 33 global banks have poured $1.9 trillion into financing climate-changing projects worldwide. The top four banks that invested most heavily in fossil fuel projects are all based in the U.S., and include JPMorgan Chase, Wells Fargo, Citi, and Bank of America. Royal Bank of Canada, Barclays in Europe, Japan’s MUFG, TD Bank, Scotiabank, and Mizuho make up the remainder of the top 10. This report comes as March has already brought deadly weather to places such as the American Midwest, where historic flooding has left four dead and farm losses could reach $1 billion, and Mozambique, where Tropical Cyclone Idai has devastated the East African country and President Filipe Nyusi estimated that more than a thousand people are likely dead. Both disasters have been linked to climate change. “Increased flooding is one of the clearest signals of a changing climate,” said 350.org co-founder Bill McKibben in a statement published by ThinkProgress, adding that flooded Nebraska’s “current trauma is part of everyone’s future.” Read more here 28 June 2019, The Conversation, Sydney declares a climate emergency – what does that mean in practice? Late on Monday night, the City of Sydney became the second state capital in Australia (after Hobart a week earlier) to officially declare a climate emergency. With climate change considered a threat to human life, Sydney councillors unanimously supported a motion put forward by Lord Mayor Clover Moore to mobilise city resources to reduce carbon emissions and minimise the impact of future change. The decision sees Sydney join a variety of local and national governments around the world, in a movement that is increasingly gaining momentum. In total, some 658 local governments around the world have made the same declaration, with the UK and Canada committing their national governments to the global movement in just the past two months. An official declaration of climate emergency puts a government on a “wartime mobilisation” that places climate change at the centre of policy and planning decisions. Read more here 28 June 2019, Renew Economy, Australia grilled on emissions at Bonn – fires back with single slide, dodgy accounting. Australia faced a grilling by other nations and has avoided questions on the future of its emissions reduction targets and skirted discussion of rising Australian emissions, during a round of United Nations climate change talks held in Germany this week. International climate change negotiators have gathered in Bonn, for mid-year discussions which have included scrutiny of the progress countries are making towards meeting their Kyoto Protocol targets. At the intersessional meeting in Bonn, Australia called upon to provide an update on its progress towards meeting its 2020 emissions reduction target, where Australia has made clear that it has no intention of setting targets that are more ambitious than those it has already committed to achieving and insisted that it has sufficient policies in place to achieve its targets. Read More here 27 June 2019, Climate Home News. Bonn climate talks end with Saudis and Brazil defiant. UN report on 1.5C blocked from climate talks after Saudi Arabia disputes science. There will be no further formal discussions of the IPCC’s findings at the UN after Saudi Arabia fought to undermine the findings of the global scientific community. A major report on 1.5C has been excluded from formal UN climate negotiations, after Saudi Arabia tried to discredit its scientific underpinnings. Discussions came to a deadlock at the talks in Bonn after a small group of countries refused to engage in substantive discussions over how the report’s findings could be used to inform policies on increasing the pace and scale of decarbonisation. The report by the Intergovernmental Panel on Climate Change (IPCC) lays out the differences between 1.5C and 2C of warming – a matter of survival for many vulnerable countries including small island states which pushed for the findings to lead to more ambitious carbon-cutting policies. Read more here Reuters 27 June 2019, ‘Worst is still to come’: Sizzling Europe battles wildfires, health risks. TARRAGONA, Spain/PARIS (Reuters) – Wildfires raged across Catalonia and French authorities stepped up restrictions on water use and driving in cities as swathes of western Europe remained in the grip of an intense heatwave….The wildfires are among the worst Catalonia has seen in 20 years, the regional government said, and residents were warned to stay inside to avoid inhaling smoke. In neighboring France to the north, authorities extended restrictions on vehicles, already imposed in Paris and Lyon, to Marseille and Strasbourg in an effort to curb air pollution. Paris banned more than half of the cars – generally older, dirtier models – registered in the capital region, which has nearly six million inhabitants, while the heatwave lasts. Several cities reduced speed limits to reduce car emissions. Some schools postponed summer examinations, and parts of northern France were put on drought alert, with water supplies to businesses, farmers and ordinary residents restricted. Agriculture Minister Didier Guillaume announced a ban on the transportation of animals until the heatwave has ended. Read more here Fossil fuel emissions have stalled Do you want to understand the complexity of energy systems which support our high consumption lifestyles? Most people don’t give too much thought to where their electricity comes from. Flip a switch, and the lights go on. That’s all. The origins of that energy, or how it actually got into our homes, is generally hidden from view. This link will take you to 11 maps which explain energy in America (it is typical enough as an example of a similar lifestyle as Australia – when I find maps for Oz I’ll add them in) e.g. above map showing the coal plants in the US. Source: Vox Explainers Mapped: how Germany generates its electricity – another example Power to the People – Lock the Gate looks back at the wins of 2015 And there’s lots more coming up in 2016. Some of the big priorities coming up next for the “Lock the Gate” movement are: If you want to give “Lock the Gate” your support – go here for more info This new report reveals that the pollution from Australia’s coal resources, particularly the enormous Galilee coal basin, could take us two-thirds of the way to a two degree rise in global temperature. To Read More and download report The 2006 UK government commissioned Stern Commission Review on the Economics of Climate Change is still the best complete appraisal of global climate change economics. The review broke new ground on climate change assessment in a number of ways. It made headlines by concluding that avoiding global climate change catastrophe was almost beyond our grasp. It also found that the costs of ignoring global climate change could be as great as the Great Depression and the two World Wars combined. The review was (still is) in fact a very good assessment of global climate change, which inferred in 2006 that the situation was a global emergency. Read More here The Garnaut Climate Change Review was commissioned by the Commonwealth, state and territory governments in 2007 to conduct an independent study of the impacts of climate change on the Australian economy. Prof. Garnaut presented The Garnaut Climate Change Review: Final Report to the Australian Prime Minister, Premiers and Chief Ministers in September 2008 in which he examined how Australia was likely to be affected by climate change, and suggested policy responses. In November 2010, he was commissioned by the Australian Government to provide an update to the 2008 Review. In particular, he was asked to examine whether significant changes had occurred that would affect the analysis and recommendations from 2008. The final report was presented May 2011. Since then the Professor has regularly participated in the debate of fossil fuel reduction, as per his latest below: To access his reports; interviews; submissions go here 27 May 2015, Renew Economy, Garnaut: Cost of stranded assets already bigger than cost of climate action. This is one carbon budget that Australia has already blown. Economist and climate change advisor Professor Ross Garnaut has delivered a withering critique of Australia’s economic policies and investment patterns, saying the cost of misguided over-investment in the recent mining boom would likely outweigh the cost of climate action over the next few decades. Read More here Live generation of electricity by fuel type Fossil Fuel Subsidies – The Age of entitlement continues 24 June 2014, Renew Economy, Age of entitlement has not ended for fossil fuels: A new report from The Australia Institute exposes the massive scale of state government assistance, totalling $17.6 billion over a six-year period, not including significant Federal government support and subsidies. Queensland taxpayers are providing the greatest assistance by far with a total of $9.5 billion, followed by Western Australia at $6.2 billion. The table shows almost $18 billion dollars has been spent over the past 6 years by state governments, supporting some of Australia’s biggest, most profitable industries, which are sending most of the profits offshore. That’s $18 billion dollars that could have gone to vital public services such as hospitals, schools and emergency services. State governments are usually associated with the provision of essential services like health and education so it will shock taxpayers to learn of the massive scale of government handouts to the minerals and fossil fuel industries. This report shows that Australian taxpayers have been misled about the costs and benefits of this industry, which we can now see are grossly disproportionate. Each state provides millions of dollars’ worth of assistance to the mining industry every year, with the big mining states of Queensland and Western Australia routinely spending over one billion dollars in assistance annually. Read More here – access full report here What is fossil fuel divestment? Local Governments ready to divest Aligning Council Money With Council Values A Guide To Ensuring Council Money Isn’t Funding Climate Change. 350.org Australia – with the help of the incredible team at Earth Hour – has pulled together a simple 3-step guide for local governments interested in divestment. The movement to align council money with council values is constantly growing in Australia. It complements the existing work that councils are doing to shape a safe climate future. It can also help to reshape the funding practices of Australia’s fossil fuel funding banks. The steps are simple. The impact is huge.The guide can also be used by local groups who are interested in supporting their local government to divest as a step-by-step reference point. Access guide here How coal is staying in the ground in the US Sierra Club Beyond Coal Campaign May 2015, Politico, Michael Grunwald: The war on coal is not just political rhetoric, or a paranoid fantasy concocted by rapacious polluters. It’s real and it’s relentless. Over the past five years, it has killed a coal-fired power plant every 10 days. It has quietly transformed the U.S. electric grid and the global climate debate. The industry and its supporters use “war on coal” as shorthand for a ferocious assault by a hostile White House, but the real war on coal is not primarily an Obama war, or even a Washington war. It’s a guerrilla war. The front lines are not at the Environmental Protection Agency or the Supreme Court. If you want to see how the fossil fuel that once powered most of the country is being battered by enemy forces, you have to watch state and local hearings where utility commissions and other obscure governing bodies debate individual coal plants. You probably won’t find much drama. You’ll definitely find lawyers from the Sierra Club’s Beyond Coal campaign, the boots on the ground in the war on coal. Read More here Oil – conventional & unconventional May 2015, Oil change International Report: On the Edge: 1.6 Million Barrels per Day of Proposed Tar Sands Oil on Life Support. The Canadian tar sands is among the most carbon-intensive, highest-cost sources of oil in the world. Even prior to the precipitous drop in global oil prices late last year, three major projects were cancelled in the sector with companies unable to chart a profitable path forward. Since the collapse in global oil prices, the sector has been under pressure to make further cuts, leading to substantial budget cuts, job losses, and a much more bearish outlook on expansion projections in the coming years. Read full report here. For summary of report USA Sierra Club Beyond Oil Campaign Coal Seam Gas battle in Australia Lock the Gate Alliance is a national coalition of people from across Australia, including farmers, traditional custodians, conservationists and urban residents, who are uniting to protect our common heritage – our land, water and communities – from unsafe or inappropriate mining for coal seam gas and other fossil fuels. Read more about the missions and principles of Lock the Gate. Access more Lock the Gate videos here. Access Lock the Gate fact sheets here 2014: Parliament of Victoria Research Paper: Unconventional Gas: Coal Seam Gas, Shale Gas and Tight Gas: This Research Paper provides an introduction and overview of issues relevant to the development of unconventional gas – coal seam, shale and tight gas – in the Australian and specifically Victorian context. At present, the Victorian unconventional gas industry is at a very early stage. It is not yet known whether there is any coal seam gas or shale gas in Victoria and, if there is, whether it would be economically viable to extract it. A moratorium on fracking has been in place in Victoria since August 2012 while more information is gathered on potential environmental risks posed by the industry. The parts of Victoria with the highest potential for unconventional gas are the Gippsland and Otway basins. Notably, tight gas has been located near Seaspray in Gippsland but is not yet being produced. There is a high level of community concern in regard to the potential impact an unconventional gas industry could have on agriculture in the Gippsland and Otway regions. Industry proponents, however, assert that conventional gas resources are declining and Victoria’s unconventional gas resources need to be ascertained and developed. Read More here 28 January 2015, ABC News, Coal seam gas exploration: Victoria’s fracking ban to remain as Parliament probes regulations: A ban on coal seam gas (CSG) exploration will stay in place in Victoria until a parliamentary inquiry hands down its findings, the State Government has promised. There is a moratorium on the controversial mining technique, known as fracking, until the middle of 2015. The Napthine government conducted a review into CSG, headed by former Howard government minister Peter Reith, which recommended regulations around fracking be relaxed. Labor was critical of the review, claiming it failed to consult with farmers, environmental scientists and local communities. Read more here Keep up to date and how you can be involved here Friends of the Earth Melbourne 20 May 2015, FoE, Inquiry into Unconventional Gas: Check here for details on the Victorian government’s Inquiry into unconventional gas. The public hearings have not yet started, however the Terms of Reference have been released. The state government’s promised Inquiry into Unconventional Gas has now been formally announced, with broad terms of reference (TOR). FoE’s response to the TOR is available here. The Upper House Environment and Planning Committee will manage the Inquiry. You can find the Inquiry website here. The final TOR will be determined by the committee. Significantly, it is a cross party committee. The Chair is a Liberal (David Davis), and there is one National (Melinda Bath), one Green (Samantha Dunn), three from the ALP (Gayle Tierney, Harriet Shing, Shaun Leane), an additional MP from the Liberals (Richard Dalla-Riva), and one MP from the Shooters Party (Daniel Young). Work started by the previous government, into water tables and the community consultation process run by the Primary Agency, will be released as part of the inquiry.The moratorium on unconventional gas exploration will stay in place until the inquiry delivers its findings. The interim report is due in September and the final report by December. There is the possibility that the committee will amend this timeline if they are overwhelmed with submissions or information. Parliament will then need to consider the recommendations of the committee and make a final decision about how to proceed. This is likely to happen when parliament resumes after the summer break, in early 2016. Quit Coal is a Melbourne-based collective that campaigns against the expansion of the coal and unconventional gas industries in Victoria. Quit Coal uses a range of tactics to tackle this problem. We advise the broader Victorian community about plans for new coal and unconventional gas projects, we put pressure on our government to stop investing in these projects, and we help to inform and mobilise Victorian communities so they can campaign on their own behalf. We focus on being strategic, creative, and as much as possible, fun! The above screen shot is of the Victorian State government’s Mining Licences Near Me site. Go to this link to see what is happening in your area Environment Victoria’s campaign CoalWatch is an interactive resource that tracks the coal industry’s expansion plans and helps builds a movement to stop these polluting developments. CoalWatch provides a way for everyday Victorians to keep track of the coal industry’s ambitious expansion plans. To check what tax-payer money has been pledged to brown coal projects and the coal projects industry is spruiking to our politicians. Here’s another map via EV website (go to their website and you should be able to get better detail from Google Maps: Red areas: Exploration licences (EL). These areas are held by companies to undertake exploration activity. A small bond is held by government in case of any damage. If a company wants to progress the project it needs to obtain a mining licence. Exploration Licence applications are marked with an asterix in the Places Index eg. EL4684*. Yellow areas: Mining Licences (MIN). A mining licence is granted with the expectation that mining will occur. A larger bond is paid to government. Green areas: Exploration licences that have been withdrawn or altered due to community concern. Green outline: Existing mines within Mining Licences. Purple areas: Geological Carbon Storage Exploration areas for carbon capture and storage. On-shore areas have been released by the State Government, while off-shore areas have been released by the Federal Government. The Coal Watch wiki tracks current and future Victorian coal projects, whether they are power stations, coal mines, proposals to export coal or some other inventive way of burning more coal. To get the full picture of coal in Victoria visit our wiki page. Get more info and see the full list of Exploration Licences current at 17 August 2012 here August 2015, Institute for Energy Economics & Financial Analysis – powerpoint: Changing Dynamics in the Global Seaborne Thermal Coal Markets and Stranded Asset Risk. Information from one of the slides follows. To view full presentation go here Economic Implications for Australia 83% of Australian coal mines are foreign owned, hence direct leverage of fossil fuels to the ASX is relatively small at 1-2%. However, for Australia the exposure is high, time is needed for transition and the new industry opportunities are significant: 1. Energy Infrastructure: Australia spends $5-10bn pa on electricity / grid sector, much of it a regulated asset base that all ratepayers fund much of it stranded. BNEF estimate of Australia’s renewable energy infrastructure investment for 2015-2020 was cut 30% from A$20bn post RET. Lost opportunities. 2. Direct employment: The ABS shows a fall of ~20k from the 2012 peak of 70K from coal mining across Australia, and cuts are ongoing. Indirect employment material. 3. Terms of trade: BZE estimates the collapse in the pricing of iron ore, coal and LNG cuts A$100bn pa from Australia’s export revenues by 2030, a halving relative to government budget estimates of 2013/14. Coal was 25% of NSW’s total A$ value of exports in 2013/14 (38% of Qld). Australia will be #1 globally in LNG by 2018. 4. The financial sector: is leveraged to mining and associated rail port infrastructure. WICET 80% financed by banks, mostly Australian. Adani’s Abbot Point Port is foreign owned, but A$1.2bn of Australian sourced debt. Insurance firms and infrastructure funds are leveraged to fossil fuels vs little RE infrastructure assets. BBY! 5. Rehabilitation: $18bn of unfunded coal mining rehabilitation across Australia. 6. Economic growth: curtailed as Australia fails to develop low carbon industries. 
14 November 2016, The Conversation, Fossil fuel emissions have stalled: Global Carbon Budget 2016. For the third year in a row, global carbon dioxide emissions from fossil fuels and industry have barely grown, while the global economy has continued to grow strongly. This level of decoupling of carbon emissions from global economic growth is unprecedented.Global CO₂ emissions from the combustion of fossil fuels and industry (including cement production) were 36.3 billion tonnes in 2015, the same as in 2014, and are projected to rise by only 0.2% in 2016 to reach 36.4 billion tonnes. This is a remarkable departure from emissions growth rates of 2.3% for the previous decade, and more than 3% during the 2000’s. Read More here
3 May 2016, Carbon Brief, The global coal trade doubled in the decade to 2012 as a coal-fueled boom took hold in Asia. Now, the coal trade seems to have stalled, or even gone into reverse. This change of fortune has devastated the coal mining industry, with Peabody – the world’s largest private coal-mining company – the latest of 50 US firms to file for bankruptcy. It could also be a turning point for the climate, with the continued burning of coal the biggest difference between business-as-usual emissions and avoiding dangerous climate change. Carbon Brief has produced a series of maps and interactive charts to show how the global coal trade is changing. As well as providing a global overview, we focus on a few key countries: Read More here/cdn0.vox-cdn.com/uploads/chorus_asset/file/3915730/EIA%20coal%20power%20plants.png)
21 April 2015, Climate Council, Will Steffen: Unburnable Carbon: Why we need to leave fossil fuels in the ground.Stern Commission Review
Australia’s Garnaut Review
November 2014 – The Fossil Fuel Bailout: G20 subsidies for oil, gas and coal exploration report: Governments across the G20 countries are estimated to be spending $88 billion every year subsidising exploration for fossil fuels. Their exploration subsidies marry bad economics with potentially disastrous consequences for climate change. In effect, governments are propping up the development of oil, gas and coal reserves that cannot be exploited if the world is to avoid dangerous climate change. This report documents, for the first time, the scale and structure of fossil fuel exploration subsidies in the G20 countries. The evidence points to a publicly financed bailout for carbon-intensive companies, and support for uneconomic investments that could drive the planet far beyond the internationally agreed target of limiting global temperature increases to no more than 2ºC. It finds that, by providing subsidies for fossil fuel exploration, the G20 countries are creating a ‘triple-lose’ scenario. They are directing large volumes of finance into high-carbon assets that cannot be exploited without catastrophic climate effects. They are diverting investment from economic low-carbon alternatives such as solar, wind and hydro-power. And they are undermining the prospects for an ambitious climate deal in 2015. Access full report here For the summary on Australia’s susidisation of it’s fossil fuel industry go to page 51 of the report. The report said that the United States and Australia paid the highest level of national subsidies for exploration in the form of direct spending or tax breaks. Overall, G20 country spending on national subsidies was $23 billion. In Australia, this includes exploration funding for Geoscience Australia and tax deductions for mining and petroleum exploration. The report also classifies the Federal Government’s fuel rebate program for resources companies as a subsidy.
