What you will find on this page: LATEST NEWS; Fossil fuel emissions have stalled; Analysis: Record surge of clean energy in 2024 halts China’s CO2 rise; does the world need hydrogen?; 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 5 November 2015, Carbon Brief, Q&A: What does the VW scandal mean for CO2 emissions? The Volkswagen (VW) emissions scandal spilled over into climate policy on Tuesday, after the company admitted to “irregularities” in its CO2 testing results. The firm’s share price — already down 60% after revelations it had deliberately cheated air pollution tests — fell a further 9% by Wednesday morning. However, the irregularities also have implications for CO2 emissions, as well as UK and EU climate targets. Carbon Brief investigates. What are CO2 test “irregularities”? On Tuesday, VW issued a “clarification” about the CO2 emissions testing of up to 800,000 of its vehicles in Europe. The statement says: “During the course of internal investigations irregularities were found when determining type approval CO2 levels…It was established that the CO2 levels and thus the fuel consumption figures for some models were set too low during the CO2 certification process.” Though the precise nature of these problems remains unclear, it has attracted wide media coverage. The Times notes petrol cars have become embroiled in the scandal for the first time. The BBC says the “dirty laundry” is piling up for VW. The Guardian says VW might have manipulated CO2 tests, in addition to its now-notorious “defeat device” for NOx air pollution. The New York Times says VW’s pollution problems have taken a “costly new turn”. A Guardian live-blog says costs for VW could exceed the €2bn it has set aside. Current EU regulations limit car CO2 emissions to no more than 130 grammes of CO2 per kilometre, notes Politico. This is set to fall to a fleet-wide average of 95gCO2/km in 2020. In the UK, vehicle excise duty is linked to CO2 emissions meaning some cars may have had unduly low rates, says Autocar. The Telegraph says some drivers could face higher taxes. However, this year’s budget changed the rules to decouple car tax and CO2 emissions from 2017. Read More here 4 November 2015, The Guardian, Most Coalition voters do not believe in human-induced climate change – CSIRO. Five years of surveys show 52% of Liberal voters believe in climate change but don’t think human activity is causing it, and 13% do not believe it is happening. Four out of five Australians believe that climate change is happening, but those who do not are much more likely to vote for the Coalition, new analysis of existing CSIRO data has found. The peak scientific research body analysed data from its past five climate change surveys to give a comprehensive look at how the public’s attitudes have changed over time. The survey was axed this year, so the figures cover the period 2010 to 2014. The research found that 78% of Australians believed that climate change was happening. In 2014, less than two in five – 39% – thought that climate change was happening but was naturally induced. Another 46% nominated humans as the main cause of environmental changes. In 2010, 50% said they believed that climate change was human-induced. Greens and Labor voters were the most likely to believe that climate change was human induced – 76% and 59% respectively. Coalition supporters were much less likely to believe that climate change existed, with 13% of Liberal voters and 18% of Nationals voters saying that they did not think climate change was happening. Most Liberal voters (52%) said they believed that climate change was happening but was naturally-occurring – 28% said they thought it was human-induced. By contrast, 31% of Labor supporters said climate change was naturally-occurring, and 59% said it was human-induced. Read More here 4 November 2015, Renew Economy, Graph of the Day: Watch US electricity grid evolve before your eyes. We talk a lot about the changing shape of the electricity grid, but what does it look like? We first came across this rather hypnotic GIF via the Union of Concerned Scientists blog, The Equation, who borrowed it from Pat Knight at Synapse Energy Economics. It shows, in animated graph form, how the electricity mix has changed in each state of America over the past 15 years. And as UCS senior energy analyst John Rogers notes, the only constant in the “mesmerising” GIF is change. The really interesting changes come from about 2009 onwards. But Rogers sees five trends in the graph’s “undulating bars” and outlines what’s behind them: 4 November 2015, New York Times, The Tough Realities of the Paris Climate Talks. In less than a month, delegates from more than 190 countries will convene in Paris to finalize a sweeping agreement intended to constrain human influence on the climate. But any post-meeting celebration will be tempered by two sobering scientific realities that will weaken the effectiveness of even the most ambitious emissions reduction plans that are being discussed. The first reality is that emissions of carbon dioxide, the greenhouse gas of greatest concern, accumulate in the atmosphere and remain there for centuries as they are slowly absorbed by plants and the oceans. This means modest reductions in emissions will only delay the rise in atmospheric concentration but will not prevent it. Thus, even if global emissions could be reduced by a heroic average 20 percent from their “business as usual” course over the next 50 years, we would be delaying the projected doubling of the concentration by only 10 years, from 2065 to 2075. This is why drastic reductions would be needed to stabilize human influences on the climate at supposed “safe” levels. According to scenarios used by the United Nations Intergovernmental Panel on Climate Change, global annual per capita emissions would need to fall from today’s five metric tons to less than one ton by 2075, a level well below what any major country emits today and comparable to the emissions from such countries as Haiti, Yemen and Malawi. For comparison, current annual per capita emissions from the United States, Europe and China are, respectively, about 17, 7 and 6 tons. The second scientific reality, arising from peculiarities of the carbon dioxide molecule, is that the warming influence of the gas in the atmosphere changes less than proportionately as the concentration changes. As a result, small reductions will have progressively less influence on the climate as the atmospheric concentration increases. The practical implication of this slow logarithmic dependence is that eliminating a ton of emissions in the middle of the 21st century will exert only half of the cooling influence that it would have had in the middle of the 20th century. Read More here 10 December 2018, Washington Post. Climate change was behind 15 weather disasters in 2017. A drought scorched the Great Plains, causing wildfires and $2.5 billion in agriculture losses. Catastrophic floods submerged more than a third of Bangladesh. Record-shattering heat waves killed scores of people in Europe and China. These were among 15 extreme weather events in 2017 that were made more likely by human-caused climate change, according to in-depth studies published this week in the Bulletin of the American Meteorological Society. At least one episode — a devastating marine heat wave off the coast of Australia that cooked ecosystems and damaged fisheries — would have been “virtually impossible” without human influence, scientists said. The findings, presented Monday at a meeting of the American Geophysical Union, underscore the degree to which climate change is already harming human society, researchers said. “People used to talk about climate change as a very complex and difficult problem of the future — something that would happen in places far away and on long time scales,” said Jeff Rosenfeld, the Bulletin’s editor in chief. “But hurricanes and wildfires and bleaching and drought . . . they’re happening to us right now, and we face new and challenging risks of how they’re going to affect us in the future.” The Bulletin has published an “Explaining Extremes” report, which seeks to determine which weather events can be attributed to climate change, every year since 2011. This is the second consecutive year that scientists have identified an event that could not have happened without human-induced warming. This year’s report features 17 peer-reviewed analyses of 16 disasters by 120 researchers looking at weather across six continents and two oceans. Each study uses historical records and model simulations to determine how much climate change may have influenced a particular event. Read More here 10 December 2018, NASA, More glaciers in East Antarctica are waking up. East Antarctica has the potential to reshape coastlines around the world through sea level rise, but scientists have long considered it more stable than its neighbor, West Antarctica. Now, new detailed NASA maps of ice velocity and elevation show that a group of glaciers spanning one-eighth of East Antarctica’s coast have begun to lose ice over the past decade, hinting at widespread changes in the ocean. In recent years, researchers have warned that Totten Glacier, a behemoth that contains enough ice to raise sea levels by at least 11 feet (about 3 meters), appears to be retreating because of warming ocean waters. Now, researchers have found that a group of four glaciers sitting to the west of Totten, plus a handful of smaller glaciers farther east, are also losing ice. “Totten is the biggest glacier in East Antarctica, so it attracts most of the research focus,” said Catherine Walker, a glaciologist at NASA’s Goddard Space Flight Center in Greenbelt, Maryland, who presented her findings at a press conference on Monday at the American Geophysical Union meeting in Washington. “But once you start asking what else is happening in this region, it turns out that other nearby glaciers are responding in a similar way to Totten.” Read more here 5 December 2018, The Conversation, Carbon dioxide (CO₂) emissions from fossil fuels and industry are projected to rise more than 2% (range 1.8% to 3.7%) in 2018, taking global fossil CO₂ emissions to a new record high of 37.1 billion tonnes.The strong growth is the second consecutive year of increasing emissions since the 2014-16 period when emissions stabilised, further slowing progress towards the goals of the Paris Agreement that require a peak in greenhouse gas emissions as soon as possible. Strong growth in emissions from the use of coal, oil and natural gas suggests CO₂ emissions are likely to increase further in 2019. Strong energy demand is behind the rise in emissions growth, which is outpacing the speed at which decarbonisation of the energy system is taking place. Total energy consumption around the world increased by one sixth over the past decade, the result of a growing global middle class and the need to provide electricity to hundreds of millions of people living in poverty. The challenge, then, is for all nations to decarbonise their economies while also satisfying the need for energy, particularly in developing countries where continued growth in energy supply is needed. These analyses are part of the new annual assessment of the Global Carbon Project (GCP), published today in three separate papers. The GCP brings together scientists who use climate and industrial data from around the world to develop the most comprehensive picture of the Earth’s sources and sinks of greenhouse gases. Read More here 28 November 2018, The Conversation, Sydney storms could be making the Queensland fires worse. A strong low-pressure system has meant severe thunderstorm and hail warnings are in effect for much of the New South Wales South Coast. At the same time, very dry conditions, strong winds and high temperatures are fuelling dozens of bushfires across Queensland. The two events are actually influencing each other. As the low-pressure system moves over the Greater Sydney area, a connected wind change is pushing warm air (and stronger winds) to Queensland, worsening the fire conditions. These lows over NSW are the kind we might see a couple of times a year – they’re not just regular weather systems, but neither are they massively out of the ordinary. However, when combined with the current record-breaking heat in Queensland, the extra wind is creating exceptionally dangerous fire conditions. Queensland’s emergency services minister, Craig Crawford, has warned Queenslanders: Read More here 27 January 2025, Carbon Brief: A record surge of clean energy kept China’s carbon dioxide (CO2) emissions below the previous year’s levels in the last 10 months of 2024. However, the new analysis for Carbon Brief, based on official figures and commercial data, shows the tail end of China’s rebound from zero-Covid in January and February, combined with abnormally high growth in energy demand, stopped CO2 emissions falling in 2024 overall. While China’s CO2 output in 2024 grew by an estimated 0.8% year-on-year, emissions were lower than in the 12 months to February 2024. Other key findings of the analysis include: As ever, the latest analysis shows that policy decisions made in 2025 will strongly affect China’s emissions trajectory in the coming years. In particular, both China’s new commitments under the Paris Agreement and the country’s next five-year plan are being prepared in 2025. Read More Here 3 November 2020, Carbon Brief: Hydrogen gas has long been recognised as an alternative to fossil fuels and a potentially valuable tool for tackling climate change. Now, as nations come forward with net-zero strategies to align with their international climate targets, hydrogen has once again risen up the agenda from Australia and the UK through to Germany and Japan. In the most optimistic outlooks, hydrogen could soon power trucks, planes and ships. It could heat homes, balance electricity grids and help heavy industry to make everything from steel to cement. But doing all these things with hydrogen would require staggering quantities of the fuel, which is only as clean as the methods used to produce it. Moreover, for every potentially transformative application of hydrogen, there are unique challenges that must be overcome. In this in-depth Q&A – which includes a range of infographics, maps and interactive charts, as well as the views of dozens of experts – Carbon Brief examines the big questions around the “hydrogen economy” and looks at the extent to which it could help the world avoid dangerous climate change. Access full article here Fossil fuel emissions have stalled 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 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 Coal & Gas Free Victoria 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.
Analysis: Record surge of clean energy in 2024 halts China’s CO2 rise
In-depth Q&A: Does the world need hydrogen to solve climate change?
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.
