Wall Street Warns About Cost Of Doing Nothing On Climate Change

As President Obama heads to the Arctic to discuss climate change, just mere weeks after approving Shell Oil’s bid to drill for oil in the treacherous Chukchi Sea, a very different group is sounding the alarm over the dangers of a warming climate. That group, surprisingly, is Wall Street bankers.

Citibank has released a new report showing that taking action now against the growing threat of climate change would save an astonishing $1.8 trillion by the year 2040. Conversely, the report says that if no action is taken, the economy will lose as much as $44 trillion during that same time period.

Government Keeps Climate Cards Close to its Chest

It’s been four months since Amber Rudd was made head of the Department of Energy and Climate Change (DECC) and there are just three months before the Paris climate conference. So, what do we know about the UK’s contribution to international climate change negotiations? Turns out, not much.

According to the (very limited) information released to DeSmog UK by DECC under a Freedom of Information request, Rudd has met with international counterparts five times since May 2015, in Berlin, Luxembourg and Beijing, to discuss the COP21 climate targets.

And, well, that’s about it. The department acknowledged that they hold briefing materials that were provided to the Secretary of State ahead of these meetings but have withheld all of these.

Social Justice and Climate Justice Movements Merge in New Orleans 10 Years After Hurricane Katrina

Julie Dermansky

Marguerite Doyle Johnston, a resident of New Orleans’ Upper 9th Ward, did not take part in the multitude of events surrounding Hurricane Katrina’s 10th anniversary that celebrated the city’s resilience. “My neighborhood was left out of the recovery, so I don’t feel like celebrating,” she told DeSmog.

Johnston would have preferred that the money spent on celebrating New Orleans’ recovery be spent on restoring Club Desire, a landmark building in the Upper 9th Ward neighborhood that she has been trying to save and convert into a community center.

In its heyday, many of the city’s most famous artists performed in Club Desire, including Fats Domino and Little Freddie King. Despite Johnston’s efforts to rescue the building, it is slated for demolition later this fall. 

Will This Be Remembered as The Summer North Americans Woke Up to Climate Change?

Lizard Lake wildfire

Smokey haze, intense heat, encampments of evacuated residents next to the highway: these were the conditions that greeted Renee Lertzman when she recently drove through Oregon. It’s no wonder why the environmental psychology researcher and professor resorts to the term “apocalyptic” to describe the scene.

It was a surreal experience,” says Lertzman, who teaches at the University of San Francisco and Victoria’s Royal Roads University. “We’re all driving along and it’s so smoky and it’s terrifying. Yet we’re all doing our summer vacation thing. I couldn’t help but wonder: what is going on, how are people feeling and talking about this?”

It’s really the question of the hour. Catastrophic wildfires and droughts have engulfed much of the continent, with thousands displaced from their homes; air quality alerts confine many of the lucky remainder behind locked doors (with exercise minimized and fresh-air intakes closed).

Firefighters have been summoned from around the world to battle the unprecedented fires, which are undoubtedly exacerbated by climate change. Yet the seemingly reasonable assumption that witnessing such horrific natural disasters may increase support for action on climate change is vastly overestimated, Lertzman tells DeSmog Canada.

On 10th Anniversary of Hurricane Katrina Former New Orleans Resident Questions African-American Leaders Siding With Climate Deniers

c Julie Dermansky

This is a guest post by Evlondo Cooper, senior fellow with the Checks and Balances Project, cross-posted with permission. 

New Orleans has many nicknames: The Crescent City, The Birthplace of Jazz, and The Big Easy. It’s also my hometown but Hurricane Katrina cast me out. In 2005, I was an investigator for the New Orleans district attorney’s office who was invested in making a great city even better. Along with hundreds of thousands of others, I had to flee New Orleans.

This month is the 10-year anniversary of Katrina and its devastating punch, which we now know was made far worse by pollution-driven climate change. I juxtapose its devastation with the potential solutions as this month marks the release of President Obama’s signature Clean Power Plan, which would cut the very pollution that made Katrina so much worse.

Pages

Subscribe to DeSmogBlog