1) G7: fossil fuel phase out and renewables finance promised – but detail lacking
Every news service is covering the G7’s climate communique. Reuters leads with some disappointment from financial experts on the vagueness of assurances; the FT has it on their front page and covers the pledge to phase out fossil fuels before the end of the century – but Pilita Clark also writes on the “long road ahead” despite the climate change turning point heralded by yesterday’s meeting.
The BBC’s Roger Harrabin asks if the meeting hails the beginning of the end of the fossil fuel era, and other outlets carry different top lines including promises to limit warming to 2 degrees (from Politico Europe), and the pledge for zero fossil fuel emissions by end of the century (Bloomberg).
The Guardian’s Karl Mathiesen hails Merkel’s “diplomatic coup”, particularly for persuading Japan and Canada to support the agreement, and the New York Times/AP covers the “gargantuan economic shift” that will be required to wean us off dirty energy.
2) Coal: 5 of G7 use up, divestment impacts, China imports down
Those not heralding the G7 climate communique are focused on the one reason it may well fail – coal. Analysis from Jon Vidal yesterday finds that the G7 increased their coal use over a 5 year period, signalling just how tough meeting the commitments will be. And Euractiv reports on NGO scepticism over the news – citing coal particularly.
The FT’s Judith Evans covers a study that finds two-thirds of the UK public think fossil fuel investments are risky – showing the growing popularity of the divestment movement, which Business Green’s James Murray explores in some detail through an Oxford University study of the 40 companies most affected by the Norwegian pension fund coal funding pull-out.
Peabody Energy, the biggest coal company in the world, is cutting jobs due to lower prices; and a study has found that the same firm doesn’t have the capital to clean up its mines – perhaps leaving the cost to the American taxpayer.
And yesterday an LSE study was published that showed China’s emissions could start to decline within 10 years – due to its drive to replace coal with renewable energy. And Reuters covers China’s May coal slump – attributed to policies limiting low-quality imports.
3) Gas: Will it lead the fight against climate change?
The BBC’s Richard Anderson covers Big Oil – that’s Chevron, Exxon Mobil, BP and Shell – talking gas at a dedicated conference.
Today Jessica Shankleman reports on a landmark agreement between the UK’s GMB trade union and the fracking industry, with the union saying on Monday that “exploiting shale gas is a moral obligation”.
Over in the US, Bloomberg’s Lynn Doan reports on the OPEC-led oil glut impact on the US shale oil industry – and Christopher Harder’s WSJ energy blog leads with regulator scrutiny of the threat of earthquakes from Exxon shale oil and gas waste re-injection.
And the New York Times health blog covers a study from PLOS One that associates fracking pollution with lower birth weights – but which industry spokesmen say is based on studies that have long been debunked.
In other news:
Climate: We’re all deniers at heart; Shell chooses wording for UK Science Museum’s “Atmosphere” exhibition; “Last ditch” climate fix crystals; US Republican pours funds into clean tech; US & UK care the least about climate change, says survey; Pope & pilgrimage.