China pledge, new Brazil-US climate commitments
The BBC’s Helen Briggs has covered China’s plan for peaking emissions, with additional analysis from David Shukman. The Washinton Post has taken a visual approach with China’s new climate plan – in four graphs. Chris Buckley of the New York Times has written on the climate diplomacy angle – with comments noting the context of the announcement (meeting with French President Hollande) and optimism for the Paris COP, despite Ban Ki-moon suggesting preparatory talks are progressing too slowly. China Daily covers the news, naturally, and CCTV’s Zhang Dan outlines the country’s plans for new hydropower.
Meanwhile in the Americas, US and Brazilian presidents Barack Obama and Dilma Rousseff have unveiled ambitious energy goals – including 20% from renewable sources by 2030 for both nations and a Brazilian plan to reduce deforestation. TIME’s Justin Worland reports that the two largest American economies “positioning themselves as leaders” ahead of Paris, and Reuters draws comment from the White House saying this is a “big deal”, as it requires the US to triple its share of renewables in its energy mix by 2030 (Brazil would only have to double theirs).
Fracking: UK application rejection fallout rages on, US earthquake litigation
Emily Gosden in the Telegraph reports energy minister Andrea Leadsom’s insistence that the secret report of the impact of fracking on house prices “should and will be published” and believes it “should be made available to the public, so that they can draw their own conclusions”.
Meanwhile, John Kemp draws on Dickens’ descriptions of the building of railroads in a Reuters column on why “Britain is wrong to reject fracking”, citing the planning system’s shortcomings, community concern and a “strong campaign by outside environmentalists” as to blame for a lack of focus on national energy security.
Ian Martin in the scams section of the Guardian money pages invents “fracketeering” as a term for “the current conspiracy in government and commerce”, while Daniel Gilbert of the WSJ reports the somewhat more serious news that energy companies can be sued over earthquakes in Oklahoma.
Money money money: Energy markets and environmental policy
Forbes reports on the 12 energy stocks most favoured by the world’s richest hedge fund billionaires, at the top of which is the world’s largest renewables energy development form SunEdison. This is somewhat tempered by the news that clean energy stocks are plunging this week amid concerns of a Greek default, a slower Chinese economy and a US court ruling that could keep more coal-fired power plants operating – writes Ehren Goosens at Bloomberg Business.
And Eduardo Porter in the New York Times looks at the way markets are largely ignored when deciding how to limit the costs of cutting emissions – concluding that the US is not actually doing it in the most economically efficient or smart way. In the UK, Jim Armitage writes in the Independent on how the country will have reduced reliance on traditional power stations by 2020 (and also energy costs), due to increased solar and greater efficiency.
In other news
Arctic oil: Rig departs Seattle-area port despite protests
UK airports: Commission “to back Heathrow runway”