Climate business – Page 15

Something for the weekend: boy child birth on the way, will get feet wet

[youtube=https://www.youtube.com/watch?v=i9vQlsuhM8Q&w=480]

Odds are shortening on the imminent arrival of an El Niño, as Peter Sinclair explores in his latest video for the Yale Climate & Media Forum (see also Climate Progress), and we can expect a wild ride. Meanwhile the ice continues to melt and the oceans rise: in Wellington and Christchurch they’re planning for 1 metre by the end of the century. As Jim Salinger noted this week, we need a big picture fix for the problem — adaptation is essential, with mitigation to prevent the worst happening. And while China plans a high speed train network to span Eurasia and North America, oil investors are looking nervously at the $1.1 trillion oil companies are gambling on a high carbon future. Yes folks, it’s time for another open thread, and there is no shortage of hot topics to discuss…

TDB Today: Generation Zero’s Clean Energy campaign

My post at The Daily Blog this week ignores all the political kerfuffle surrounding milk-stained cabinet ministers taking holidays from twitter, and focusses on a new report from non-partisan young climate activist group Generation Zero: A Challenge To Our Leaders – Why New Zealand needs a Clean Energy Plan. It’s an impressive piece of work, and an admirable summary of where we are today and where New Zealand should be heading. I commend it to all Hot Topic readers – the pdf is here.

Long weekend viewing: Years Of Living Dangerously

[youtube=https://www.youtube.com/watch?v=Rn2Cd3Dwwnk&w=480]

This is the trailer for Years Of Living Dangerously, a nine part documentary about the impacts of climate change by James Cameron and a bunch of Hollywood filmmakers, working with some of the USA’s top TV journalists and a team of top climate scientists. There are some big names involved: Harrison Ford, Matt Damon, Jessica Alba, and Arnold Schwarzenegger investigate various aspects of how climate impacts are already being felt. It’s being shown on Showtime (cable TV) in the US, and I imagine it will eventually turn up elsewhere around the world. For the time being you can watch the first episode in its entirety here:

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Citibanker: the age of renewables is here

Kathryn Ryan’s interview earlier this week with Michael Eckhart, Managing Director and Global Head of Environmental Finance and Sustainability at the giant investment bank Citigroup was arresting. He was in New Zealand as a keynote speaker at the Wind Energy Conference and Ryan asked him about a recent report from Citi, Energy Darwinism: The Evolution of the Energy Industry, which claimed the world is entering the age of renewable energy and explored the consequences for generators, utilities, consumers and fossil fuel exporters. There’s a good exposition of the report on this blog post.

Eckhart explained the three big costs in producing electricity – the fuel, paying off the loan for the plant, and operational maintenance. In the case of coal and natural gas generation all three costs are involved and there’s no way of knowing what the cost of the fuel will be in the future. With wind and other renewables “there is no fuel cost at all: none”. Once the loan for the plant is paid off there are no further costs other than operational.

Ryan asked why investment in renewables is dropping as the costs are coming down. Eckhart in reply spoke of an anomaly:

“We had a very successful industry emerging coming out of the United States, Europe … manufacturing these solar cells, these solar panels, and along came China, and China just produces things at a lower cost and China made a priority – this became a priority industry under the government of China … and they came out with panels costing half as much.”

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Lip service: it’s all climate action ever gets from Key & Co

As expected, the New Zealand government’s response to the IPCC’s Working Group 3 report on mitigating climate change pays lip service to the science, while maintaining that NZ is doing all that can be expected. Climate change minister Tim Groser’s press release said that the IPCC report’s call for intentional cooperation meant that NZ is “on the right track in pressing for a binding international agreement on emissions beyond 2020” but failed to note the urgency explicit in the report.

Groser also repeated the government’s standard response when challenged on government inaction on climate policy:

“New Zealand is doing its fair share on climate change, taking into account our unique national circumstances, both to restrict our own emissions and support the global efforts needed to make the cuts that will limit warming.”

Groser’s response to the WG2 and WG3 reports so angered Pure Advantage founder Phillip Mills that he announced he would make a $125,000 donation to the Labour and Green parties. Mills, who has been working behind the scenes for the last five years, lobbying cabinet ministers and National MPs to build a business case for climate action and clean, green business growth, told the NZ Herald:

I’ve been trying impartially to deal with National. I’ve met with John Key around this a number of times … and really I held the hope that I and groups that I’ve been involved with would be able to get National to see sense.

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