Top Stories
[There are some interesting
implications from several of the items that appear today
and in recent issues. In spite of the clotted state of
negotiations toward a global agreement to limit, and eventually reduce,
the output of greenhouse gases, many seem to be assuming such
reductions
will become significant economic drivers in the near future. Companies
are adjusting their strategies (Panasonic, Wednesday), traders see
carbon prices increasing (below), thousands of companies are investing
in emission reduction technologies or demanding them of their suppliers
(e.g. Coca-Cola, below), investors
are amassing funds (below) and hundreds of companies are investing in
renewable energy production (below).]
Copenhagen Failure Defied by $200 Billion in
Green Investments.—reliability high.
"Renewable-energy investment may climb to a record $200 billion
worldwide next year as companies from Hong Kong’s CLP Holdings Ltd. to
American Electric Power Co. start projects that don’t depend on a new
climate-change treaty." Article quotes many companies, investors and
consultants who say that local, state and national regulations and
ordinary business forces will drive investment in green. See
Bloomberg. [Politics
is better at protecting the status quo (including the
positions of businesses threatened by change), and its ability to
respond to crisis is limited. Businesses a) have more money than
governments, and b) are strongly motivated by change-driven
opportunities to maximize returns to their investors.]
Companies,
Industries, Markets and Supply Chains
Coke Ices Use of 'Super Greenhouse Gases'.—reliability
medium.
"The soft drink giant announced today that it is phasing out
hydrofluorocarbons — potent "super greenhouse gases" — by requiring
that all new vending machines and coolers be HFC-free by 2015. CEO
Muhtar Kent told reporters he hopes the move will catalyze a shift away
from HFCs in the wider commercial refrigeration market." "Coca-Cola’s
currently installed 10 million coolers around the world are responsible
for the lion’s share of its greenhouse gas emissions — 40 percent of
the 15 million metric tons the company emits each year." From
SolveClimate.
EU carbon up as banks buy ahead of summit.—reliability
high.
"The benchmark price for European Union carbon emissions futures rose
almost 3 percent toward a three-week high on Thursday as banks
increased buying ahead of a U.N. climate summit next week, traders
said. . . . A U.N. summit in Copenhagen starts on December 7 and
financial institutions are building up positions, in case more
stringent emissions reduction targets are announced there and prices
rise." See
Reuters.
Hudson raises more than $1B clean energy fund.—reliability
high.
"private equity firm Hudson Clean Energy Partners said today it closed
a debut fund with commitments of more than $1.02 billion to invest in
the clean energy sector." See
Cleantech Group.
Government and
Regulation
Mumbai water protests turn ugly.—reliability
high.
"Police and protesters have clashed over water cuts in the Indian city
of Mumbai, leaving one dead and dozens injured. The city is
experiencing sever water shortages and the authorities have imposed
forced rationing in water supply in many districts, with cuts of around
15% to 30%." From
edie.net. [This
story doesn't reflect the role of Mumbai's violent, populist political
parties, which is no doubt substantial. Mumbai is the only big city in
India where you can expect to get electrical power from the mains 24/7.
In other cities people grumble about power cuts, and sometimes protest,
but rarely riot. There is a difference between not having electricity
and not having water. Everyone in Mumbai is used to doing without water
for hours at a time, but further cuts may be unbearable. The monsoon is
many months away.]
'Adapt or die' becomes mantra against warming.—reliability
high.
"Until the past couple of years, experts avoided talking about
adjusting to global warming for fear of sounding fatalistic or causing
countries to back off efforts to reduce emissions." "Cities, states and
countries are scrambling to adapt or are at least talking about it and
setting aside money for it." "That means elevating buildings, making
taller and stronger dams and seawalls, rerouting water systems,
restricting certain developments, changing farming practices and
ultimately moving people, plants and animals out of harm's way." "The
World Bank estimates adaptation costs will total $75 billion to $100
billion a year over the next 40 years. . . . It may even be $200
billion a year or $300 billion a year". Lists more examples of specific
projects. At
MSNBC from AP. [The cost of such
adaptations is why experts have been telling us for many years that it
is much cheaper to cut emissions to try to reduce the magnitude of
climate change than to wait until they have done their damage and try
to fix things later. On the other hand, a billion dollars that one
group spends is a billion that someone else earns.]
Clean Energy Push Rivals Manhattan Project:
WSJ.—reliability medium.
"this level of science funding truly is generation-changing", like the
Manhattan Project. Quotes Wall Street Journal: "The government’s
multi-billion-dollar push into energy research is reinvigorating 17
giant U.S.-funded research facilities, from the Oak Ridge National
Laboratory here to the Lawrence Berkeley National Laboratory in
California. After many years of flat budgets, these labs are ramping up
to develop new electricity sources, trying to build more-efficient cars
and addressing climate change." From
CleanTechnica.
[Crossposted from HaraBara.com courtesy of HaraBara, Inc. Copyright © 2009 HaraBara, Inc.]