A chronological log of events in global energy, climate change and related issues. Key events from this chronicle are distilled in the serialised front-line eye-witness account, The Winning of the Carbon War
Jeremy Leggett accepts 2015 Gothenburg Award on behalf of Solarcentury, SolarAid, SunnyMoney and Carbon Tracker teamsMay 12, 2015
Jeremy Leggett has won a Gothenburg Award for Sustainable Development. Previous winners include Al Gore, Paul Polman, and Kofi Annan. Commenting on the award win, Jeremy said, “It is actually the teams at Solarcentury, SolarAid, SunnyMoney and Carbon Tracker who have won this award – they just couldn’t get all the names on the voting paper! This is the truth that I carry in my heart.... read more...
5% of profits from this solar company have grown the biggest solar lighting retailer in Africa, reaching 10m people with 1.7m lights.May 11, 2015
Solarcentury, a VC-backed international downstream solar company, first donated profits to charity SolarAid in 2007. SolarAid then set up a wholly-owned social enterprise to sell solar lights, SunnyMoney, in 2012. Jeremy Leggett, founder of Solarcentury and SolarAid, believes this is a model in need of mass replication. He says: “Just think, if many companies gave 5% to fight climate-change... read more...
Monthly CO2 reaches 400ppm, $800m Tesla battery orders in Week 1, BoA says coal increasingly risky, fracking chemicals found in US drinking water: Week 19,2015May 10, 2015
UK grid holds back renewables, industry says. Solar Trade Association points out much of the grid is closed to large renewables connnections.
South African factories struggle as power blackouts threaten economy. Africa’s most-industrialized economy hampered in recovery from slowest growth since a recession in 2009.
Toyota and... read more...
Tesla announces battery for homes & industry, Church of England divests from coal & tar sands, Glencore says no chance of stranding, HSBC advises clients against fossil fuel investment: Week 18, 2015May 3, 2015
76% of Catholics say they feel moral obligation to help poor hit by climate change. So a poll of >1,000 UK Catholics shows. A third would change lifestyle if the Pope says so.
Ecotricity boss has a plan for 80% renewable-powered UK by 2030. Developed with Cambridge Econometrics, it bans new coal from 2020.
Oil industry contaminants... read more...
HSBC warns clients against fossil fuel investment, 1st London university divests, Prince Charles divests, US pro-carbon-fuel Right seeks to convert Pope: Week 17, 2015.April 26, 2015
Price Charles shuns fossil fuel investments. So too does Richard Branson. So an FT survey of the rising tide of divestment shows. The National Trust and CoE are reviewing.
Number Ten lets it be known that it would oppose any foreign takeover of BP. It thinks the oil giant should stay British.
“Like shale oil, solar power is shaking... read more...
Fossil fuels losing to renewables, CEOs want climate action, German solar sets new record, shale oil production falls in Bakken, Texas to ban bans on fracking: Week 16, 2015April 19, 2015
Carbon reserves held by top 200 quoted fossil fuel companies soar. Fossil Free Indices data show it has risen 10% in 5 years, and is concentrating in the bigger companies.
Hedge funds increasingly betting on rising oil prices. WTI has rebounded 30% since a low in March. Government now projects production dropping in June.
Fracking... read more...
Funds perform better without fossil fuels, 100% renewables would save half a trillion a year, Saudi Arabia pumps record oil, hype of UK shale oil goes uncontested: Week 15, 2015.April 12, 2015
Norway’s sovereign wealth fund says it won’t divest from coal. Engagement is the strategy they prefer, despite a parliamentary majority for coal divestment.
Fossil fuel-free funds outperformed conventional funds over last 5 years. Even before the oil price crop. So an analysis by the leading stock market index company, MSCI, shows.
Air... read more...
Rig count in “financialised” US oil industry down >50%, fracking’s environmental toll ever clearer in daily breaches, Vattenfall restructures around wind, Duke goes solar in Florida: Week 14, 2015April 5, 2015
US and Iran agree nuclear deal. Restrictions on enrichment for lifting of sanctions, details to come in June. Obama calls it historic. Israel calls it a threat to their existence.
“The US E&P business has, in effect, become financialized.” And capital continues to flow to “zombie companies” drilling shale, Art Berman laments.
Vattenfall... read more...
Coal plants shutting down around world – incl. all 4 of Beijing’s big plants, China seeks get-out from tar sands, climate denial is immoral says US church leader as divestment pressure grows: Week 13, 2015March 29, 2015
US to submit Paris plans before month end, others delay. China, India, Russia, Brazil, Canada and Australia say they are waiting until closer to a Paris summit.
US oil independents raise record amount from share sales. Small and midsize companies have sold $10.8bn of equity, with this quarter a record.
Shell hopes to produce 400,000 bd from the... read more...
Record oil debt, bond bubble fears, solar survives eclipse, Obama unveils first federal fracking legislation and faces pushback on coal, don’t mention climate if you work for state of Florida: Week 12, 2015March 22, 2015
“Global fund managers warn of a bond bubble”: FT. 4 out of 5 fear that overvalued asset class will collapse in a disorderly sell off.
“Oil majors pile on record debt”: FT. Oil majors have hiked borrowing 60% in first 2 months to $63bn of bonds.
“Sovereign wealth funds start to leak oil”: FT. The $7.1tn sector depends on revenue... read more...