Tag Archives: change’

Harrison Ford hits out at worldwide inaction on climate change

Updated December 09, 2015 20:55:17

Hollywood heavyweight Harrison Ford has told the ABC he hopes world leaders can “finally do something” about climate modify as he launched a broadside at squabbling globe powers.

For the duration of an interview with 7.30, Ford said the consequences of inaction were dire.

“Nature will take care of itself — nature doesn’t need men and women, people require nature to survive,” Ford told presenter Leigh Sales.

“The planet will be OK, there just won’t be any damn people on it.”

The veteran star of the Indiana Jones and Star Wars franchises did not mince words when pointing out his disdain for arguments in between leaders and nations.

“Individuals feel of [dealing with climate change] as an adversarial approach,” Ford said.

“They believe, well the United States did this with their sources, why are they now telling us that … we have to adopt a behaviour that apparently they did not.

“Effectively, that is all water below the bridge. We’re now all in this point in time on this planet. And if we don’t operate collectively, the consequences are disastrous.”

Nature a lot more crucial than ‘cute animals and a location to vacation’

The actor, who is in Australia to market the forthcoming Star Wars film The Force Awakens, took aim at the broader population as effectively as the political class.

External Link: ‘The planet will be OK, there just won’t be any damn individuals on it’: Harrison Ford

He also named upon the public to value their environment beyond becoming merely about “cute animals and a spot for them to holiday”.

“Nature [provides] clean air, fresh water, pollinators for our crops, new medicines, new meals crops… and we cannot afford to produce these factors for ourselves.

“It has taken a extended time for men and women to understand this reality,” Ford mentioned.

His remarks come shortly after Foreign Minister Julie Bishop told a sideline occasion at the climate talks in Paris that there was a lengthy way to go prior to the finish of fossil fuels, despite underlining the value of innovation and technological breakthroughs.

Ford stated he hoped the “body politic will be in a position to ultimately do some thing about it”.

“It seems that it’s the proper time,” he said.

Subjects: climate-adjust, environmental-influence, science-fiction-films, film-films, actor, united-states, australia

First posted December 09, 2015 20:53:36

Agen Sabung Ayam

Holoscenes art installation causes climate change splash in Miami

Updated December 06, 2015 16:06:59

A confronting art installation inspired by rising sea levels is making a splash at this year’s Art Basel fair in Miami.

Art Basel is an international modern and contemporary art fair staged in Switzerland, the United States and Hong Kong every year.

This year the works on display include everything from interactive portraits with moving eyes and lips, to illuminated installations depicting homosexual serial killers on steel security doors.

But it is a performance installation inspired by the impact of climate change that has captured the attention of revellers.

The piece, entitled Holoscenes, sees performers placed in a large aquarium where they must attempt to carry out everyday tasks, such as moping the floors, making the bed and playing guitar.

The water inside the aquarium fills and drains at varying speeds, in line with the ebbs and flows of real-time global environmental data.

That often leaves performers forced to swim to the top of the aquarium to take breaths throughout the display.

Afghan-Polish artist Lars Jan is behind the work.

According to his website, the piece is inspired by the “remarkable run of devastating floods” that have occurred across the world, including in Australia.

“[The floods] have lost the veil of aberration and instead have assumed the mantle of the norm,” the website states.

Jan told The New York Times that he hoped it would make people “feel climate change in their guts, rather than just understand it”.

“The conversation needs to happen on the street,” he said.

He said the work was about humankind’s ability to adapt to environmental pressures.

The comments come as negotiators from 195 nations deliver a blueprint for a pact to save mankind from disastrous global warming at climate talks in Paris.

External Link: Art Basel storify

Topics: arts-and-entertainment, contemporary-art, climate-change, environment, united-states

First posted December 06, 2015 15:56:22

Agen Sabung Ayam

UN adopts climate-saving draft as stars add voices to call for change

Updated December 06, 2015 09:05:44

Negotiators from 195 nations have delivered a blueprint for a pact to save mankind from disastrous worldwide warming, raising hopes that decades of arguments will finally finish with a historic agreement in Paris.

cop21 blueprint crucial points

The planned deal would aim to break the world’s dependence on fossil fuels for energy, slashing the greenhouse gas emissions from burning oil, coal and gas that are causing temperatures to rise dangerously.

Tortuous UN negotiations dating back to the early 1990s have failed to forge unity amongst rich and poor nations, and the Paris talks are being described as the “final, very best chance” to save mankind.

They started on Monday with a record-breaking gathering of 150 world leaders who sought to energise the method, and the subsequent critical phase ended on Saturday with the adoption of a draft text of an agreement.

Negotiators finalised the draft following an typically tense week of talks at a conference centre in Le Bourget on the northern outskirts of Paris.

Whilst several really contentious points still have to be resolved by ministers in the course of a scheduled 5 days of talks beginning on Monday, delegates mentioned they felt the foundations had been laid for accomplishment.

“We are really content to have this progress. The political will is there from all parties,” said China’s chief climate envoy, Su Wei.

Right after the draft was adopted to loud applause, South African negotiator Nozipho Mxakato-Diseko drew on her nation’s revered democracy icon in a bid to inspire other individuals.

“In the words of Nelson Mandela, it always seems impossible till it is done,” she said.

Schwarzenegger utilizes farm childhood to urge globe to go green

Arnold Schwarzenegger with solar panels Photo: “My brother and I walked 200 metres to the properly to get our family’s source of water for drinking and for bathing every single day,” Mr Schwarzenegger says. (AFP: Hector Mata)

Arnold Schwarzenegger has recalled a childhood of milking cows in the rain and drawing water from a nicely as he named for the planet to turn to clean power and shield the world’s environment from international warming.

The former California governor and action movie star harked back to his Austrian upbringing as he known as for action in an address to international politicians in Paris, on the sidelines of a UN conference where negotiators are searching for a worldwide climate-saving accord.

“A single of my chores was each and every morning at six o’clock to go to the farm subsequent door and to milk the cow and to bring home the milk,” he stated.

“It did not matter what the weather was — no matter whether it was cold, it was hot, raining, thunder, shower, what ever.

“My brother and I walked 200 metres to the properly to get our family’s source of water for drinking and for bathing every single day.

“We played in the fields, we swam in the streams and the lake — the environment was absolutely almost everything to us,” he added.

In his “idyllic” childhood, Mr Schwarzenegger stated he could in no way have imagined a globe in which humanity would dump 40 billion tonnes of greenhouse gases into the atmosphere.

“But I also could not have imagined that a single day I would grow to be governor of the excellent state of California, the eighth largest economy in the planet and that I would have the power to do one thing about it,” he stated.

He pressed decision-makers at every single level to turn to wise, clean energy sources.

“This is the challenge of our time and this is the real globe,” he stated.

“This is not the film globe which is the other globe that I come from.

“There are no visual effects right here, no unique effects, there is no script writing that we can adjust for a greater ending — nothing like that.”

‘Most fascinating time’ in human history

Schwarzenegger was one particular of much more than 50 celebrities committed to fighting climate change, from US actor Sean Penn to Chinese net tycoon Jack Ma, who gathered at the conference on Saturday to support construct momentum.

Actor Sean Penn at COP21 Photo: Actor Sean Penn is one of the personalities lobbying for measures to fight climate alter. (Reuters: Stephane Mahe)

“Possibly this is the most exciting time in human history,” Mr Penn told a unique event at the conference.

“These illusions of getting too a lot of tough options have usually designed chaos. Now we reside in a time where there are no options. We have certainty.”

Scientists warn our planet will turn into increasingly hostile for mankind as it warms, with increasing sea levels that will consume islands and populated coastal regions, as effectively as catastrophic storms and serious droughts.

Tiny island nations most vulnerable to rising sea levels and stronger storms, which are frequently railroaded by the powerful in the UN talks, also expressed cautious optimism about the draft agreement.

Palau’s president Tommy Remengesau Jr said Pacific nations had been currently living “the frontline effect of climate alter” and it will a matter of time before the rest of the world felt the very same, if no deal was struck.

Pacific nations living the 'frontline impact' of climate changeVideo: Pacific nations living the ‘frontline impact’ of climate modify (The Globe)

“We would have wished to be additional along than we are at this point, but the text getting forwarded so far reflects our important priorities,” mentioned Thoriq Ibrahim from the Maldives and chair of the Alliance of Tiny Island States.

No a single in Le Bourget even so, is beneath the illusion that a December 11 deal is guaranteed.

There are vivid memories of the spectacular failure at the 2009 climate talks in Copenhagen, the final time the world tried to develop a global warming pact.

“At this point in Copenhagen we were dealing with a 300-page text and a pervasive sense of despair. In Paris we’re down to a slim 21 pages and the atmosphere remains constructive,” Greenpeace climate professional Martin Kaiser stated.

“But that does not assure a decent deal. Right now the oil-generating nations and the fossil fuel business will be plotting how to crash these talks.”


Topics: atmosphere, climate-alter, weather, environmental-management, france

First posted December 06, 2015 08:50:57

Agen Sabung Ayam

Early days but late nights for climate change negotiators in Paris

Posted December 04, 2015 10:53:48

It is nevertheless early days in the two-week extended negotiations for a new international agreement to limit climate alter, but negotiators are currently operating into the early hours of the morning.

Key points:

  • Friday deadline to lock in globe-wide deal to limit global warming
  • Final agreement expected to limit boost of two degrees Celcius
  • Push to bridge gap among building and created countries

The United Nations conference in Paris started on Monday with the aim of locking in a world-wide deal to limit global warming beyond 2020, with a deadline of next Friday.

But some negotiating sessions have currently run by means of the night, not wrapping up until early hours of the morning, just before resuming again only a couple of hours later.

A variety of teams are operating on different aspects of the agreement and some regions are proving challenging to get consensus on, major to the late night sessions.

The final agreement is anticipated to settle on limiting worldwide warming to an boost of 2 degrees Celcius.

But there is a big gulf in between created and developing nations on where the onus to reduce emissions lies and how considerably financial help advanced economies ought to provide.

Let’s all function to get building nations into the extremely greatest position they can to access the financing that is there to do things that are important for development.

Head of the United Nation’s Development Program Helen Clark

Head of the United Nation’s Development System Helen Clark urged creating countries to take benefit of new technologies to enable financial advancement whilst still limiting carbon emissions.

“Let’s all work to get developing countries into the extremely ideal position they can to access the financing that’s there to do issues that are important for improvement,” Ms Clark said.

She referred to as for sophisticated economies to provide poorer countries grants, rather than loans, to aid them cope with climate alter.

“We do really feel that standard climate justice needs assistance for adaptation for those who have been harmed by events they didn’t result in,” Ms Clark said.

“There is a fundamental injustice in nations getting set back time and time once again, and getting to incur higher debts and exposure to monetary liability.”

As opposed to the unsuccessful 2009 negotiations in Copenhagen, these talks are not focused on setting targets for nations to reduce their greenhouse gas emissions.

As an alternative, every single nation has proposed its personal level of cuts and approaches for doing so.

The negotiations are centred about the general level of emissions cuts, funding, and a technique for monitoring and reviewing each and every country’s progress.

The deal will be a successor to the Kyoto Protocol, which placed most of the responsibility for minimizing emissions on the developed globe and expires in 2020.

Topics: government-and-politics, climate-adjust, environment, environmental-policy, france

Agen Sabung Ayam

Chasing storms: Surreal portraits ignite conversation on climate change

Posted December 02, 2015 14:18:17

Map: United States

Chasing storms across the United States, with only 15 minutes to take the perfect shot.

Photographers Benjamin Von Wong and Kelly DeLay set out to create a set of surreal portraits set in front of dramatic storms to highlight the dangers of climate adjust.

Conservation photographer Benjamin Von Wong has released a set of images designed to send a powerful message about climate alter, arguing it “doesn’t care” about people’s standard lives.

Wong teamed up with storm photographer Kelly DeLay to create the images, chasing storms across seven states in western United States with only ten-15 minutes for every shot.

The series was known as “Surreal Stormchasing Portraits: Igniting a conversation on Cowspiracy and the fight against climate alter”.

External Link: The portraits have been shot in front of the dramatic stormfonts with the help of volunteer models

Can you envision how difficult it would be to plan a shoot while chasing a storm? Coordinating models, constructing sets and designing lighting — all with no understanding where the shoot would take spot, whilst storms zip by at who knows how many miles per hour?

Benjamin Von Wong

When the concept was 1st suggested by Wong’s sidekick Anna, he believed it would be also challenging.

“It would be an absolute nightmare and not possible to pull off without having funding,” he stated.

“We should believe of a different project.”

Placing together this photoshoot was unlike something I had ever accomplished before. Not only had I never ever chased a storm in my life, I had also by no means planned a project about an uncontrollable force of nature.

Benjamin Von Wong

But the notion stuck, and so Wong decided to look for a person who could assist him locate and safely navigate the storms.

The web led him to DeLay, an knowledgeable weather photographer who agreed to do the project beneath specific circumstances:

  • they would have no far more than 10-15 minutes to set up and pull down every single shot
  • he would say where they would go and
  • there was no guarantee they would get the shot.

Wong agreed.

The list of challenges for this project seemed to be infinite, from maintaining a convoy of 1st-time chasers safe, possessing a tail automobile for equipment, props, and so on…

Kelly DeLay

DeLay and Wong set off, asking pals and fans to pose as models for the shots and sourcing props from Craigslist and bins on the side of the road.

A tiny group was also assembled to assist with the shoot, and one particular fan lent his ambulance to carry gear.

DeLay would track the storms and the team would send out a 24-hour notification that they would be in a common region when a single approached, and Wong’s fans near the place would rush out and find him.

Once they met up and went more than the safety suggestions, they would go into chase mode to try and intercept a storm.

External Hyperlink: Shooting the portraits needed a sprint to the place and a rapid set up and pack down

I believed that Kelly had been exaggerating when he stated that I would have ten-15 minutes per shot. I learned extremely speedily that he wasn’t.

Benjamin Von Wong

The storms would move at over 48 kilometres per hour, and Wong mentioned also usually they would “lose precious time trying to locate the best road to get us into the correct position to set up our shots”.

“Utilizing words like ‘epic’ and ‘surreal’, Ben set the bar higher on what he wanted,” DeLay said.

“I learned rapidly how distinct and meticulous he was. His outstanding pictures from this project give you a excellent indication of that.

“It was my job to get us in front of a storm with a wonderful foreground and in an area that we could back in the ambulance in and get the shot just before a supercell would run us more than.”

It is nearly not possible to look at the plethora of distinct crises that impact our planet right now with no feeling overwhelmingly depressed and powerless. Regardless of how powerless I might feel, I want to place myself out there and attempt my best to make a good distinction in the globe with the imagery I create.

Benjamin Von Wong

Wong said he took on the project because he wanted to try and make a distinction in the face of how powerless he felt.

“Just working on this project has allowed me to tremendously boost my understanding of climate adjust by discovering documentaries like Cowspiracy and how dire of a scenario we find ourselves in,” he mentioned.

External Hyperlink: Behind the scenes of Benjamin Von Wong’s storm portraits

Subjects: arts-and-entertainment, photography, climate-alter, environment, united-states

Agen Sabung Ayam

World’s biggest polluter wants to lead fight against climate change

Posted November 29, 2015 07:00:37

A man walks past a power plant in eastern Beijing. Photo: Provincial governments in China have issued 155 permits for new coal-fired power plants, despite the country’s efforts to reduce emissions. (ABC: Bill Birtles)

Regardless of pumping as a lot carbon dioxide into the atmosphere as the subsequent four biggest polluters combined, China will use this week’s UN conference in Paris to stake a worldwide leadership claim on climate modify.

Six years on from the disappointing Copenhagen conference, exactly where China was seen by the West as largely impeding a binding agreement, Beijing is bringing a raft of ambitious commitments to the table.

Smog covers downtown Beijing Photo: A heavy smog covers Beijing. (ABC: Stephen McDonell)

Chief among them, a state-led investment drive for renewables with an aim of sourcing 20 per cent of the country’s power requirements from non-fossil fuel sources by 2030.

Accompanying that is a pledge to peak the nation’s carbon dioxide emissions by about 2030, and to lessen carbon emission intensity by up to 65 per cent in the identical period.

Li Yuan, the CEO of China Merchants New Power Group [the green power arm of a main state-owned enterprise] mentioned the planet has “already witnessed China’s speed in developing its green power industry”.

“Final year’s speed was the quickest. This year we’ve reached the highest capacity construction of wind energy and solar energy in the globe.”

China in 2014 spent about $ 115 billion on solar and wind power, and other types of renewable power, putting it far ahead of the European Union and the United States for investment.

In a sign of how eager Beijing is to invest, Mr Li’s firm has gone from operating one solar energy plant to running 46 of them in 3 years.

Questions raised more than pilot emissions trading scheme

Another pledge China has announced includes the creation of a national carbon emissions trading scheme by 2017.

Pilot applications have been trialled in seven cities, but in at least a single of them, Shenzhen, permit trading has been sluggish since of the slowing economy and an oversupply of permits.

That has raised inquiries about the effectiveness of the national scheme after it has been launched.

Large solar panels are seen in a solar power plant in northwest China Photo: China spent $ 155 billion on renewable energy final year. (AFP: China Out)

Further concerns are becoming raised about China’s heavy reliance on coal.

A current revision of national coal use figures revealed the government had been underreporting the quantity of coal getting used for energy every single year by as much as 600 million tonnes, or 17 per cent of the country’s total use.

And despite power demand dropping off in line with a slowing economy, a Greenpeace study revealed provincial governments have issued 155 permits for new coal-fired power plants.

“If those power plants are constructed in the future, they will create 6 per cent of the annual carbon dioxide emissions of China. So that will pose a great threat to the Chinese effort for meeting the objectives of cutting coal and cutting carbon emissions,” Greenpeace East Asia campaigner Dong Liansai said.

China’s president Xi Jinping will address the opening ceremony of the Paris conference, but Chinese officials have said they will not be bringing any added pledges to the table.

The country’s prime climate negotiator Xie Zhenhua cautioned that China’s economy and continual pursuit of stability would be factored in to the government’s plans.

“We are taking all the proper actions to solve this problem [climate change]. But right now, in accordance with our existing stage of development, China’s current scenario need to consider the stability of the economy, the employment of workers,” he mentioned.

“So we may well need to work to execute our objective step by step.”

Topics: pollution, air-pollution, atmosphere, climate-change, planet-politics, china, france

Agen Sabung Ayam

Security steps up in Paris as confidence builds for climate change action

Updated November 28, 2015 12:36:26

The “stars seem to be aligning” for severe action on climate alter, UN secretary common says, but the threat of extremist violence threatens to overshadow essential climate change talks in Paris this week in the wake of terror attacks in the French capital a fortnight ago.

Prime Minister Malcolm Turnbull has joined representatives from 52 other countries at the Commonwealth Heads of Government Meeting (CHOGM) in Malta, exactly where climate modify is higher on the agenda.

Security was tight as the two-day CHOGM meeting started in Valletta attended by UN chief Ban Ki-Moon who flagged his hope that the talks could develop momentum ahead of the climate conference early next week.

“This is practically the final political milestone ahead of we meet in Paris,” he mentioned.

In a press conference overnight, hours after tens of thousands of individuals rallied in Melbourne for action to address climate modify, Mr Ban said he was more hopeful than ever that a consensus could be reached.

“The member states are now displaying their leadership. They are close friends: Germany, United Kingdom, Japan, Canada, Australia they’re now showing their commitment for climate financing,” he stated.

“We are now functioning and going to present the politically credible trajectory for $ 100 billion.

“This is a trust and self-confidence issue.”

French president Francois Hollande — who arrived at the conference as a guest soon after a sombre ceremony in Paris commemorating the 130 individuals killed by Islamists — also expressed self-assurance in the global action on climate change.

“We are making progress in all of our discussions on the binding element,” he said.

More than 140 world leaders will begin to collect in Paris more than the subsequent two days.

With final preparations underway for the climate talks, Paris police prefect Michel Cadot said he was taking each precaution to make certain the safety of delegates and these in Paris.

“The very first message I want to provide again right now: it’s a get in touch with for wonderful vigilance from all the inhabitants of our area and a get in touch with for not using automobiles on Monday, due to the fact of the targeted traffic restrictions in this area,” he said.

Tackling extremist violence is also high on the CHOGM agenda with British prime minister David Cameron warning it poses a lasting threat to Commonwealth nations.

“A single of the most critical items we can do here is speak about the perils of Islamist extremist violence and the dilemma of extremism more broadly,” he said.

“I want to put that on the agenda of the Commonwealth, particularly when you think about how many young men and women there are in the Commonwealth.

“This is the struggle of our generation.”

Topics: climate-change, environment, planet-politics, government-and-politics, australia, france, malta

1st posted November 28, 2015 12:34:03

Agen Sabung Ayam

Thousands turn out in Brisbane march calling for climate change action

Posted November 28, 2015 12:18:05

Thousands gather in Queen's Park for a climate action rally through Brisbane. Photo: Thousands collect in Queen’s Park for a climate action rally by way of Brisbane. (ABC News: Matt Eaton)
Map: Brisbane 4000

About five,000 folks have braved hot and humid weather in the Brisbane CBD for a climate change rally ahead of United Nations climate talks in Paris subsequent week.

They included members of the Pacific Climate group, who spoke at the rally to raise issues that many Pacific islands would face catastrophic sea level rise without having critical international effort to minimize greenhouse gas emissions.

The protest is one of a number of demonstrations planned across Australia this weekend.

From the gathering point in Queen’s Park, the rally started a march through the CBD and across the Brisbane River to South Bank.

Ipswich couple Ray and Robin McGuire mentioned they have been attending since they wanted the Queensland and federal governments to halt Adani’s Carmichael coal mine in central Queensland.

“We adhere to the (climate alter) problem extremely closely,” Mr McGuire mentioned.

Ray and Robin McGuire came from Ipswich to attend the Brisbane climate rally. Photo: Ray and Robin McGuire came from Ipswich to attend the Brisbane climate rally. (ABC News: Matt Eaton)

“We’re concerned about the Pacific islands and what will take place to them. In the end, it really is a moral choice individuals have to make.”

Mrs McGuire said she was fed up when she thought about how much the climate had currently changed given that she was a youngster.

“The ethical basis of economics and politics is unreal,” she mentioned.

“We want to quit the Carmichael mine, but also update policy and assistance for renewables.”

Queensland Government releases land clearing report

Ahead of the rally, the Queensland Government released a report that revealed land clearing rates across the state doubled in the initial two years of the former LNP government.

Deputy Premier Jackie Trad said the report outlined an alarming trend on land clearing.

“I am really concerned about what the science is telling us – land clearing and connected emissions have improved exponentially under the LNP,” she stated.

“That is why the Palaszczuk Government will introduce legislation early subsequent year to much more successfully manage vegetation clearing in Queensland.”

Ms Trad said the Government would also do its very best to minimise “panic clearing” ahead of any tightening in restrictions.

Scientist Dr Martin Taylor from the environmental group WWF Australia said the Queensland report figures revealed in 2013-14 there was 35.8 million tonnes of carbon released by land clearing across the state – the equivalent of adding yet another 8 million cars to the roads.

Pacific Climate Warriors told the rally Pacific islanders are facing a climate catastrophe. Photo: Pacific Climate Warriors told the rally Pacific islanders are facing a climate catastrophe. (ABC News: Matt Eaton)

Topics: climate-adjust, community-organisations, environmental-health, federal—state-issues, state-parliament, land-clearing, great-barrier-reef, brisbane-4000

Agen Sabung Ayam

$US2.2 trillion in fossil fuel projects ‘unviable because of climate change’

Updated November 25, 2015 22:28:17

A former investment banker turned climate modify adviser says planet risks constructing trillions of dollars worth of uneconomic fossil fuel projects over the subsequent ten years because of measures to limit international warming.

Analysis analyst Mark Fulton is the lead author of a report by London based environmental consider tank Carbon Tracker, which has warned there are $ US2.2 trillion in potentially unviable coal, gas and oil projects around the globe.

The report said the US had the greatest exposure to the fossil fuels market with $ US412 billion in unnecessary future projects whilst Australia’s potentially uneconomic developments have been worth $ US103 billion.

Mr Fulton came up with the $ 2.2 trillion figure by conducting stress tests on planned fossil fuel projects with a situation exactly where global warming is restricted to two degrees Celsius, the threshold above which the Intergovernmental Panel on Climate Change (IPCC) estimated that international warming becomes critical and extreme.

“It really is about $ US1.eight trillion for oil and gas and a couple of hundred billion for coal. Typically these are just the numbers that the sector is estimating to get these issues up and going at a reasonable return our return takes place to be at 15 per cent,” Mr Fulton told The Planet These days.

Mr Fulton said Australia risked an oversupply of liquefied natural gas projects and he singled out planned coal mines in Queensland’s Galilee Basin as a waste of income.

Audio: New report says US$ two.two trillion in fossil fuel projects unviable because of climate adjust (The Planet Today)

“It is the projects like the Galilee Basin, the Carmichael mine, they are just not necessary economically in our view,” Mr Fulton mentioned.

“There is just so considerably coal out there, that does Australia as soon as once again, all these companies, want to bet on a extremely volatile, extremely tough-to-study market place and make the world’s biggest coal mine, which by the way, even if I’m just an economist now, all you happen to be undertaking is risking a collapse in the coal price tag.”

Last month, a United Nations report identified the private sector was escalating its investment in much less polluting industries and it named on governments and policy makers to do the exact same.

Mr Fulton has been an UN climate modify adviser and was a senior economist and market place strategist at investment banks, Citigroup and Deutsche Bank.

Projects are viable due to consumers in Asia: Minerals Council

The Minerals Council of Australia disagrees with the report’s assertion that $ US100 billion worth of future coal, oil and gas projects are unviable.

The council’s executive director of coal Greg Evans mentioned demand for planned coal projects in Queensland’s Galilee Basin would stay strong more than the next few decades.

“Our main customers are these clients in Asia exactly where financial expansion will be taking spot,” he said.

“India, South-East Asia, and certainly, North Asia. So they will demand all the energy they can get.”

Mr Evans mentioned the International Power Agency was forecasting that Australian coal exports are most likely to boost by 37 per cent by 2040.

Next week, the United Nation’s climate modify conference begins in Paris with the aim of getting the world to sign up to a new agreement to limit international warming.

Mr Fulton stated it was time for investors to decrease their exposure to fossil fuel projects.

“I appear at this in terms of provide demand and financial break-even. I can only inform you what the data says, so I am not an advocate,” he said.

“I come about to have run a two degree anxiety test due to the fact I feel that is what companies should be seeking at.

“If you’re a firm you have got to see the down side right here, you’ve got to look at what the downside may be.”

Topics: coal, climate-modify, oil-and-gas, enterprise-economics-and-finance, pollution, australia

Initial posted November 25, 2015 22:26:47

Agen Sabung Ayam