In what lawyers say is one of the most important parts of the decision, Preston rejected Fisher's "market substitution" argument. There was no proof other mines would go ahead, he asserted, and wealthy countries such as Australia have a responsibility under the Kyoto Protocol and the Paris agreement "to take the lead" on climate change.
Alan Pears: The Politics of Confusion on Achieving the Paris Commitment | John Menadue
Why Glencore's Ivan Glasenberg buckled on coal | Financial Review
Glasenberg said the coal production cap was part of the company's climate change policy, which could also see it dropping its support of the World Coal Association.
"Our commodity portfolio and its key role in enabling the energy and mobility transition for a low-carbon economy enables us to look ahead with confidence and to remain focused on creating sustainable long-term value for all our shareholders," he said.
Suncorp calls for climate action as profits slump | Financial Review
Suncorp CEO Michael Cameron: "The facts support undeniably that change is occurring in our climate, and we need to make sure that the communities are resilient."
Shell faces lawsuit in the Netherlands, a new legal front in climate battle | Climate Liability News
“for decades, Shell has been aware of the impact of burning fossil fuels on the climate. Like ExxonMobil, Shell had studied the problem and acknowledged the danger in internal documents, yet publicly downplayed the risk while funding climate denial groups.”
The truth about big oil and climate change | The Economist
"Yet amid the clamour is a single, jarring truth. Demand for oil is rising and the energy industry, in America and globally, is planning multi-trillion-dollar investments to satisfy it. No firm embodies this strategy better than ExxonMobil, the giant that rivals admire and green activists love to hate."
Facing up to the age of environmental breakdown | IPPR
“In the extreme, environmental breakdown could trigger catastrophic breakdown of human systems, driving a rapid process of ‘runaway collapse’ in which economic, social and political shocks cascade through the globally linked system – in much the same way as occurred in the wake of the global financial crisis of 2007-08,” the paper warns.
What is the role of central banks in managing climate change? | London Institute of Banking and Finance
Dr Paul Fisher, well known to many at Climate Alliance has written a very interesting article for the London Institute of Banking and Finance. He asks the question whether central banks should play a role in managing the risks presented by climate change.
Greenhouse gas emissions contribute to coal mine refusal | Norton Rose Fulbright
In an Australian first, development consent for a new coal mine was refused by the Land and Environment Court of NSW (the Court) for reasons that included its material greenhouse gas (GHG) emissions and contribution to climate change.
It’s Official: 2018 Was the Fourth-Warmest Year on Record | NY Times
NASA scientists announced Wednesday that the Earth’s average surface temperature in 2018 was the fourth highest in nearly 140 years of record-keeping and a continuation of an unmistakable warming trend.
New Zealand sea level rise: Councils' $8b climate change warning | Stuff
"Costs will likely go far beyond tangible measures; not only will infrastructure be exposed, but so will potential economic development and growth, community health and safety and social support systems."
Companies Most Exposed to Climate Change Risks | Barrons
“We’re steadily moving toward a new normal where billion-dollar disasters are a regular occurrence,” says Emilie Mazzacurati, founder and CEO of Four Twenty Seven. “This combination of extreme weather events and growing pressure from asset owners and regulators is pushing a lot of businesses to look for a way to understand their exposure and start managing their risks.”
Greta Thunberg at the WEF in Davos
The Global Risks Report 2019 | World Economic Forum
Extreme weather is again out on its own in the top-right (high-likelihood, high-impact) quadrant of the Global Risks Landscape 2019. The year 2018 was another one of storms, fires and floods.19 Of all risks, it is in relation to the environment that the world is most clearly sleepwalking into catastrophe.
You can download the report here, or go to the WEF webpage for more information.
2018’s Costliest Natural Disasters | Insurance Journal
A report from Munich Re on last year’s natural disasters pointed to “clear indications” that man-made climate change is a factor in California’s wildfires.
Great Ocean Road at risk from erosion and rising sea levels | The Guardian
Yes, let’s pretend nothing has changed....
“The road has been there for 100 years and will continue to be there for many many years, decades to come.”
How Temperature Has Changed in Each Country | Carbon Brief
How Climate Finance Flows Around The World | Carbon Brief
This diagram shows the average yearly amount of climate finance given by each OECD country on average in 2015 and 2016, and where that money went.
Donor countries are listed down the left-hand side of the diagram. The right-hand side shows the amounts which flowed to recipient countries or regions.
Will a 1.5 degrees target trigger a death spiral for oil and gas companies? | Renew Economy
“It is therefore important to think realistically about how such transitions occur and how society and the market will manage this one. Separately – and it is a quite separate issue – we also need to ask if there is a realistic likelihood of today’s oil and gas companies transitioning as corporate entities. Do they have a future? Or will they just fail – as incumbents most often do when faced with such dramatic market change?”
