global warming

$2.5 Trillion Worth of Global Financial Assets at Risk From Climate Change Impacts by End of Century, Study Warns

An average $2.5 trillion (£1.76trn) of the world’s financial assets would be at risk from climate change impacts if global temperatures are left to increase by 2.5°C by 2100, warns a new study by the Grantham Research Institute on Climate Change and the Environment at the London School of Economics.

The study, published today in the journal Nature Climate Change, is the first of its kind to produce a comprehensive estimate of the total value at risk from climate change impacts. So far most of the attention has focused on the risk of climate change to fossil fuel companies.

Under the Paris climate deal, nations have agreed to limit global warming to “well below” 2°C from pre-industrial levels. However, under business as usual emissions are set to increase global average temperatures by approximately 2.5°C.

Tapping Canada's Geothermal Potential

In the midst of controversy over B.C.’s Peace River Site C dam project, the Canadian Geothermal Energy Association released a study showing the province could get the same amount of energy more affordably from geothermal sources for about half the construction costs. Unlike Site C, geothermal wouldn’t require massive transmission upgrades, would be less environmentally disruptive and would create more jobs throughout the province rather than just in one area.

Despite the many benefits of geothermal, Canada is the only “Pacific Ring of Fire” country that doesn’t use it for commercial-scale energy. According to Desmog Canada, “New Zealand, Indonesia, the Philippines, the United States and Mexico all have commercial geothermal plants.” Iceland heats up to 90 per cent of its homes, and supplies 25 per cent of its electricity, with geothermal.

February's Global Temperature Spike is a Wake-Up Call

By Steve Sherwood, UNSW Australia and Stefan Rahmstorf, Potsdam Institute for Climate Impact Research

Global temperatures for February showed a disturbing and unprecedented upward spike. It was 1.35℃ warmer than the average February during the usual baseline period of 1951-1980, according to NASA data.

This is the largest warm anomaly of any month since records began in 1880. It far exceeds the records set in 2014 and again in 2015 (the first year when the 1℃ mark was breached).

In the same month, Arctic sea ice cover reached its lowest February value ever recorded. And last year carbon dioxide concentration in our atmosphere increased by more than 3 parts per million, another record.

What is going on? Are we facing a climate emergency?

Bonner Cohen

Bonner R. Cohen

 Credentials

  • Ph.D. University of Munich
  • B.A. University of Georgia
Source: [1]

 Background

New Report Identifies The Fossil Fuels We Must Keep In The Ground To Avert Catastrophic Climate Change

As the US Senate haggles over a comprehensive energy bill, climate activist groups have identified the global fossil fuel reserves that must be kept in the ground if we’re to limit global warming to the critical 2-degree-Celsius threshold.

This week saw the Senate debating the hotly contested energy bill, which has been criticized by environmentalists for including a number of fossil fuel industry giveaways, including expedited permitting for liquefied natural gas (LNG) terminals and subsidies for coal technology, among other troublesome provisions.

Democratic Senators Sheldon Whitehouse (RI), Ed Markey (MA) and Brian Schatz (HI) responded by introducing an amendment into the energy bill designed to express Congress’s disapproval of the use of industry-funded think tanks and misinformation tactics aimed at sowing doubt about climate change science.

Senate Democrats ultimately stopped the energy bill from moving forward on Thursday over the fact that a $600-million amendment to address the water crisis in Flint, MI was not included.

The US is not the only country that needs to do some soul-searching when it comes to energy policies, however.

What Are The Chances Of Getting All These Record Hot Years Without The Extra Greenhouse Gases? The Answer...

From hot to fractionally less hot, here are the planet’s ten warmest years on record – 2015, 2014, 2010, 2005, 2007, 2013, 2009, 1998, 2002 and 2006.

These are the numbers according to NASA and include measurements taken on land and at sea in a record that goes back to the year 1880.

Now that’s a pretty remarkable run of hot years for an era when, according to the rusted-on professional climate science denialists, global warming was supposed to have stopped.

But what are the chances of getting a run of “hottest on record” years like that - 14 of the 16 hottest years all happening since 2000 - without all the extra greenhouse gases that humans have been judiciously stockpiling in the atmosphere and oceans?

Climate Science Denier Feels 'A Bit Stupid' After Losing £1K Bet That World Would Be Cooling in 2015

After 2015 was revealed as the hottest year on record, climate science denier Sir Alan Rudge now admits that he feels “a bit stupid” about betting a climate expert that the world would be cooling by now.

Rudge, a member of Lord Lawson’s climate denial think tank the Global Warming Policy Foundation (GWPF), accepts that he must pay up the £1,000 he lost when he bet Chris Hope, a Cambridge University researcher, in 2011 that 2015 would be more than 0.1C cooler than 2008.

But new data released last week shows that 2015 was the hottest year on record and was 0.35C warmer than 2008. As DeSmog UK covered at the time, this cost two members of the GWPF a total £2,000.

Two Members of Lord Lawson's Climate Denial Think Tank Lose £2K In Climate Science Bet

Want to lose £2,000? Then make a bet with a climate change expert that the world isn’t warming.

That’s what two members of Lord Lawson’s climate change science denying Global Warming Policy Foundation (GWPF) did when they bet Chris Hope, a Cambridge University researcher, that 2015 wouldn’t be the hottest year ever recorded.

You win some, you lose some,” Benny Peiser, director of the GWPF, told Reuters, adding that the pace of warming “is not something that people… need to be greatly concerned about”.

US Solar Jobs Double As Clean Energy Continues Explosive Growth Around The World

Renewable energy continued its explosive growth in 2015 — and I don’t mean explosive like an oil train accident.

A new global record was set last year with the investment of $328.9 billion in clean energy. That edged out the previous high mark, set in 2011, by 3 percent, according to Bloomberg New Energy Finance.

ExxonMobil Spent At Least £5.6m on European Lobbying and Corporate Donations in 2014

ExxonMobil has spent at least £5.6m ($8.08 million) on lobbying the European Commission and in donations to European universities and organisations in 2014 according to the most recent figures available.

A DeSmog UK investigation into the oil giant’s European activities reveals much of this was spent lobbying on energy and environment issues in addition to donations to organisations such as the United Nations Environment Programme and the Oxford Institute for Energy Studies.

Last September, Inside Climate News revealed that ExxonMobil knew about the impacts of manmade climate change in the 1970s’ and ‘80s yet went on to fund numerous climate denial efforts. This prompted the New York Attorney General to subpoena ExxonMobil to “determine whether the company lied to the public about the risks of climate change or to investors about how those risks might hurt the oil business.”

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