Norway’s sovereign wealth fund says it won’t divest from coal. Engagement is the strategy they prefer, despite a parliamentary majority for coal divestment.
Fossil fuel-free funds outperformed conventional funds over last 5 years. Even before the oil price crop. So an analysis by the leading stock market index company, MSCI, shows.
Air pollution spike across southern England sparks health warnings. Pollution from Europe is combining with pollution from British cars.
“California’s new era of heat destroys all previous records.” “Sadly, its just the beginning”: Bloomberg. Lst 12 months were 2.5C above 20th century average.
Vancouver commits to 100% renewable energy within 20 years. > 50 cities have signed up including San Diego, San Francisco, Sydney Australia, and Copenhagen. Some aim for 2020.
Guardian features stunning graphics on scale of fossil fuel depletion. Spinning dials for the day, the year, and your lifetime.
French warning on nuclear reactors being built in China’s Guangdong facilities. They could have the same high carbon problem found in the Flammanville pressure vessel.
UKOG estimates 50-100 bn barrels of oil below UK Weald. This based on one well near Gatwick. 3 – 15 % recoverable, they further estimate, without fracking. Share price leaps.
US drillers will claim $26bn payout on bear-market insurance. Counterparties to this hedge hedge include banks, hedge funds, airlines and refineries. Most contracts expire this year.
Shell’s BG deal meets shareholder scepticism. Fund managers say the price is too high, imperills dividend, and they worry that it relies on an oil price rebound to $90.
87% of Americans think renewable energy is important to the country’s future. A new poll shows that whatever else divideds US voters, it is not this.
Going 100% renewable could save world’s biggest economies $half a trillion a year. So a Climate Group study by the New Climate Institute concludes.
Saudi Arabia crude oil production hits highest level on record. March output was 10.3 mbd as Kingdom continues to defend market share against high cost producers.
ConocoPhillips CEO “bets farm on shale”: Bloomberg. Ryan Lance sees an oil rebound before the year ends, and Like ExxonMobil will focus on turning drilling on and off quickly in the shale.
Shell to acquire BG Group for £47bn ($70bn). The combined business is worth $200bn. More M&A is expected in big oil. Brazil is the “big prize”, the FT reports.
Michael Bloomberg targets coal again with $30m donation to Sierra Club. His donations now total $80m. He cites health and economics as rationale for moving off coal.
China’s assault on air quality is boosting solar and EVs. Violators of new laws will “be punished with an iron hand”, President Xi Jinping pledges.
Google & Microsoft join Obama to prepare for health woes in changing climate. Increases in smog, infectious diseases, and other ailments will be researched.
2,000 top academics ask universities to divest from fossil fuels. Academics Stand Against Poverty says such investments are “unethical and untenable”.
US utilities stand to lose half sales by 2030 to solar and batteries. So an Rocky Mountain Institute study of the NE finds. Question is, will they then be able to finance grid?
E.ON enters North American solar and wind O&M market. They hope to leverage a decade of experience to offer a one-stop shop for operations &maintenance to customers of all sizes.
Investors continue to opt for junk energy bonds. The average yield is around 8.8%. Private equity and hedge funds are racing to raise money to buy. Some analysts say too soon.
“Climate campaigners losing faith in value of engaging with fossil fuel firms.” Investor pressure is ‘useless’ as a lever for industry reform, many think.
Cheap oil is squeezing mortgage debt in energy-industry hubs. Property prices are falling and loans will become more difficult to refinance.
Brazil eyes solar as drought squeezes hydropower resources. The country is turning to the energy source once dubbed a fantasy by the country’s president, including solarised dams.
Areva finds flaws in Flammanville reactor. High carbon content found in reactor pressure vessel steel, meaning reduced mechanical strength. Test results due October.
Aluminium battery can charge phone in one minute, scientists say. Stanford team announces a breakthrough, and say it could also work for storage of renewable electricity.
NATO to test solar powering of military operations in June. About 1,000 soldiers will spend 12 days on an exercise in Hungary. Too many soldiers have died on fuel convoys.
Almost all oil and gas majors now have climate policy reviews underway. So says Nick Bulter in the FT. He does not think that pressure produced this, and expects “substantive” change.