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  • Editor’s Picks / 07 December 2015 at 0:14 GMT

    Paris talks look like recipe for successful climate deal

    The Guardian Australia
    Negotiators in Paris have cleared a major hurdle, producing a draft accord in record time and raising hopes that minister-led talks can now clinch a deal. No part of the deal has been finalised. It is likely to be a tradeoff and it remains littered with areas of disagreement. But the document handed to the French on Saturday has refined 50 pages to just over 20 and, unusually, was agreed on schedule, leaving a full week for ministers to reach agreement. China’s chief climate negotiator, Su Wei, said: “It has laid a solid foundation for next week … like when we cook a meal you need to have all the seasonings and ingredients and recipes, but next week is the actual cooking.”
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  • Editor’s Picks / 02 December 2015 at 22:56 GMT

    Investors flee fossil fuels, but banks pour cash into coal

    Business Spectator
    Institutional investors are fleeing fossil fuels even as some major banks pour money into coal, according to UN climate conference reports. Climate campaigner said in a statement “that investors are reading the writing on the wall and dramatically shifting capital away from fossil fuels and towards clean, renewable energy". At the same time, a separate report said banks were ploughing hundreds of billions each year into coal mining, with investments in renewables trailing far behind. The 12-day UN meeting, which kicked off with a summit of 150 world leaders, is tasked with beating back the threat of climate change and helping poor countries cope with its impact.
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  • Editor’s Picks / 13 November 2015 at 0:33 GMT

    Fossil fuels far from dead and buried, despite the spin

    Business Spectator
    A number of things stand out in the IEA ‘World Energy Outlook’ for those who want to bolster their point of view in the carbon wars. First, the global need for electricity will be much greater in 2040 than it is today. Second, far from being dead and buried, the role of fossil fuels will remain high even as the contribution of coal (in market share terms) falls. Collectively coal, gas and oil will deliver 54% of supply in 2040. Third, the rise of renewables will owe a great deal to hydro power. Fourth, conventional generation (coal, gas, hydro and nuclear) will hold 80% of the market. That's not what the community takes in when it reads ‘renewables to overtake’ headlines.
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