Exxon confirmed climate change in 1982, Pope woos US on climate, China announces cap-and-trade plan during US visit, World leaders agree 17 Sustainable Development Goals: Week 38, 2015

“Hinkley: a truly major national scandal.” Christopher Booker in the Telegraph: “will be the costliest engineering project Britain has ever embarked on, and a total waste of money.”
World leaders agree sustainable development goals. The UN general assembly in New York has formally adopted the 17-goal blueprint for development over the next 15 years.
Pope Francis calls for end to “selfish and boundless thirst for power and material prosperity”. In his speech opening the UN summit, he singles out international financial institutions.
EU warned about devices at centre of VW scandal two years ago. The Commission knew software skewed results of exhaust readings, the FT reveals.
“Junk-Debt Investors Fight for Scraps as U.S. Shale Rout Deepens.” “It’s every man for himself”, says a credit analyst. “The bubble is bursting.”
Low oil price is dragging LNG down and “killing US power generators.” Overseas gas linked to oil is so cheap that US exports can’t compete, Bloomberg reports.
Expect 61 GW of solar panel installations in 2015, up 36 %, Bloomberg advises. Installations are expected to hit almost 70 GW next year.
Tesla opens first European factory, en route to half-million car by 2020 target. The plant in the Netherlands will produce 450 cars a week.
“China’s solar companies are plunging on stock markets, and analysts can’t agree why.” As installations soar, shares are not followign industry fundamentals, Bloomberg reports.
Carbon capture project under threat as Drax pulls out of prototype project. Drax blames cuts in renewables subsidies, which will leave it short of cash.
China to announce cap-and-trade programme to limit carbon emissions. White House says Xi Jinping will make a landmark commitment on Friday to start national scheme in 2017.
Renewable energy outstrips coal for first time in UK electricity mix. Wind, solar and bioenergy contribute a record 25% of the country’s electricity over a whole quarter.
Former SSE boss hits out at ‘institutionally incapable’ UK government. Ian Marchant says they are making decisions “on the hoof” and are imperilling national energy security.
Shell’s commission under fire. Anthony Hobley: “We question the credibility and independence of any entity set up by energy incumbents with an interest in maintaining the status quo.
Sasol bets on shale gas with $9bn plant. it is forging ahead with its largest ever project: an $8.9bn investment in a US gas processing facility that can produce 1.55m tonnes of ethylene.
Pope backs Obama on climate change in White House visit. “Climate change is a problem which can no longer be left to future generations,” he says.
VW scandal caused nearly 1m tonnes of extra pollution. So a Guardian analysis of the 11 million cars for which tests were rigged shows.
US oil producers focus on survival as financial squeeze tightens and production finally falls. Output peaked in April and is forecast down by 400,000 barrels per day next year.
Total slashes oil capex further to defend dividends. Down as much as 15 per cent next year to $20bn-$21bn, and by a further $3bn in 2017, the cuts are the most aggressive by any oil group.
Shell to launch an “Energy Transitions Commission” next week. Gerard Wynn on Energy & Climate: “The first task ….may be to convince sceptics of its sincerity and impartiality.”
Investors put off new nuclear by build problems. “Only China wants to invest in Britain’s new £2bn Hinkley Point nuclear plant because no one else thinks it will work, EDF admits.”
“Exxon Confirmed Global Warming Consensus in 1982 with In-House Climate Models.” A past employee spills the beans on internal advice suppressed.
Hillary Clinton comes out in opposition to the Keystone Pipeline. “A distraction from the important work we have to do to combat climate change”, she now says.
Goldman calls coal peak before 2020, and “terminal decline”. The resource will never gain enough traction again to lift it out of its slump, the bank says in a note to clients.
Funds worth $2.6 trillion pledge to dump coal shares. Value of funds pledging to shift away from coal, oil or gas has increased 50-fold over the past year.
“Mines in America’s Coal Country Just Sold for a Total of Nothing.” That’s what a group of Appalachian surface and undergound mines sold for, Bloomberg reports.
“The Surprisingly Big Market for Sand Just Collapsed.” “When the shale boom went bust, it took down the sand industry with it”, Bloomberg reports.
CBI chief slams UK government credibility on climate, harm to green economy. UK companies stand to lose hundreds of billions in export opportunities because of renewables roll-back.
National Grid says UK solar may be cost competitive within 18 months. “You’ll no longer need a subsidy,” says Andrew Bonfield, finance director, in an interview.
New Zealand ships climate refugee back to Kiribati. Ioane Teitiota is seeking to be the world’s first climate refugee.