Climate talks: Bizarro Paris summit to be held by oil and gas majors
10 of the biggest oil and gas firms in the world will meet next week in Paris to formulate a plan for the upcoming UN climate conference, reports the FT.
The heads of BP, BG Group, Total, Eni, Statoil and Repsol (and other so far unconfirmed oil giants like Shell) are expected to call for an ‘ambitious and effective agreement’ and announce their commitment to developing technologies like carbon capture and storage.
Meanwhile coal wants to get in on the Paris climate deal as well, with Glencore telling delegates they should acknowledge coal’s role in the future energy mix, reports Reuters.
Climate finance: $60 billion raised by rich countries so far
Christine Lagarde has said failure on climate change is not an option, otherwise ‘we’ll all be fried, grilled, toasted and roasted’.
The clearly hungry IMF chief and also the World Bank president Jim Yong Kim called for an end to fossil fuel subsidies, reports the Associated Press.
A new defence think tank has also stressed the importance of action on climate change, warning that war and migration will get worse, reports Reuters.
But things are falling into place for Paris, with an OECD report covered by Climate Home says $60 billion has already been raised this year, almost two-thirds of the target.
And if you want to know what’s in the latest UN climate draft text, here’s a handy explainer from Carbon Brief.
Poland: New anti-smog law means Krakow can ban coal
As the Polish election draws near (it’s on Oct 26) we’ll be ramping up our coverage of this pivotal European country.
And lots of stuff is happening there.
Poland’s president Duda has signed an amendment to an environmental law that empowers local authorities to tackle pollution, and right off the bat Krakow has said it will ban coal use, reports the Guardian.
We covered the anti-smog proposal earlier this year, but that ‘no magic wand’ solution has been strengthened which means Krakow can actually do that.
Meanwhile there’s Weglowa. To rescue the troubled mining giant, the government is trying to work around EU state-aid laws.
Bob Burton, who wrote a comment piece for Energydesk just last week on the mining crisis, has followed up his analysis with a breakdown of what government is attempting and what it means.
UK: Renewables in crisis because of subsidy cuts
Following on from the SunEdison-MarkGroup debacle that has befallen the UK’s renewables sector, a range of other companies and projects are in jeopardy because of clean energy subsidy cuts.
Energy efficiency company Climate Energy has just announced it too is entering administration, and the solar schools project is under threat.
It extends to wind as well. Despite news that onshore wind is the cheapest energy to produce in the UK (front-paged by The Independent), Donald Trump has entered the fray as the face of wind NIMBYs saying that turbines are a ‘monstrous’ blight on the Scotland landscape.
Coal: Australian thermal coal – the main benchmark for the Asian market – has hit an 8 year low, reports the FT.
Fracking: The US shale oil sector is on the verge of collapse as the price war with OPEC enters its final stage, reports The Telegraph.
Oil: With a growing glut, but fewer rigs, Quartz explains this latest stage of the oil price crisis.