Could EU agree to leave fossil fuels in ground?

The EU has just announced an agreement to reduce carbon emissions by 40% by 2030, which is a welcome step. In line with our recent Mark Carney post, could the EU start thinking about making commitments to leaving a ‘reasonable’ proportion of fossil fuels in the ground?

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Mark Carney and the need to leave oil in the ground

In recent years, it seems that the focus of discussions about how to tackle climate chance has moved from talking about ‘reducing carbon emissions’ to one about the need to leave fossil fuels in the ground. It’s good to see that a leading financial figure, Mark Carney, the governor of the Bank of England, has recognised this issue and is bringing it to the attention of the financial community. In the context of stranded assets for companies such as ExxonMobil, he has been saying that the vast majority of oil deposits should be considered “unburnable”  if the world wants to avoid catastrophic climate change.

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Tackling Climate Change Report

A new report ‘Tackling Climate Change’ was released on September 23, 2014. It was authored by a team of climate experts, chaired by Sir Bob Watson, on how to limit climate change to 2 degrees C. There is a link here to the site, and the pdf.

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President Obama UN Climate Change Speech

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Leonardo DiCaprio UN Climate Change speech

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New Climate Economy report

This report can be found here.

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IMF report on Energy Pricing

The IMF has released a new working paper on carbon pricing (pdf), with a blog article and YouTube video (below).

 

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Climate Change as a Health Issue

In August, WHO had it’s first ever conference looking at the health impacts of climate change – see details here.

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UBS believe batteries and electric are at tipping point

UBS has released an interesting document to investors about growth opportunities in battery and electric technologies. The document can be downloaded here, and comment from the Guardian here.

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White House report on cost of delaying action on climate change

A new report has been released by the US government about the cost of delaying action on climate change. It is available via this blog post, or directly by pdf.

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