FtF News #121 – 29th September 2021
Policy progress, Arctic oil and gas funding and the climate impact of the Murdoch media empire
Hello, and welcome to Forge the Future, your weekly rundown of the latest climate news.
It’s been a surreal week here in the UK. There’s plenty going on on the environmental front, with XR protests and climate announcements aplenty. However, we’re also seeing sky-high gas prices causing energy companies to collapse, and Brexit-induced labour shortages combined with tabloid hype have induced a fuel panic, with filling stations emptied in hours and queues across the country. 2021 is the gift that keeps on giving, it seems… I find myself sometimes longing for the days when politicians eating sandwiches oddly were as dramatic as events got!
State of the world
Climate research and findings, weather events and studies
Copernicus Climate Change Service has released a report on wildfires in the Northern Hemisphere this week, and the results are grim. This year resulted in the most CO2 from fires of any year on record, with particularly huge emissions from both North America and Siberia. Emissions from the fires in Russia are more than double last years, and whilst fires as yet make up a fraction of global emissions, they are growing rapidly year on year.
Brazil has been bouncing from one weather event to another this year, with severe drought and heat giving way to an unexpected cold blast. The resulting impacts have decimated crops in the country, which given its role in global food exports has caused chaos in the commodities markets. A UN index of international food inflation rose 33% in just the last 12 months, placing yet more pressure on those already struggling to afford food.
A new study has found that children born in 2020 will face many more environmental disasters than their grandparents. If countries meet their current climate pledges, 2020 babies will experience an average of 30 extreme heatwaves in their lifetimes, seven times that of someone born in 1960. The impact is also far higher for those born in sub-Saharan Africa, who will suffer nearly 50% more extreme climate events than their central Asian or European kin.
Planet positives
Moving towards a greener and more equitable world
The Pressure is on
It seems like the pressure of the upcoming COP26 climate summit is finally starting to have an effect, with a series of policy announcements from key players this week. On the American side, president Biden has pledged to double climate aid to approximately $11.4bn, a step in the right direction. Critics have pointed out that the number is still well short of the US’ fair share, but it will help push up funding for the $100bn/year aid goal for helping developing nations decarbonise. However, as with everything in the US, approval is needed from Congress for the funds, which is by no means guaranteed.
Xi Jinping also announced this week that China will not financially support any coal-fired power plants abroad, a significant blow to the planned coal pipeline. Whilst the question of the country’s vast domestic coal fleet remains, this move potentially nixes over half of all planned coal power plants globally outside of China and India.
Finally, Turkey is to ratify the Paris Agreement, the last G-20 member to do so. It held off on ratification due to disagreements about binding climate targets, but has elected to push ahead now ahead of COP26. Aside from Turkey, only five other signatory countries have yet to ratify the agreement – Eritrea, Iran, Iraq, Libya and Yemen.
Pesky pollutants
This week also saw the US finalise legislation to reduce HFC emissions by 85% over the next 15 years. HFC emissions are relatively low compared to CO2 and methane, but they are extremely potent greenhouse gases, meaning this move has real value.
The WHO has also updated its air quality guidelines for the first time since 2005, setting higher levels for almost every pollutant it monitors. Crucially, it set stricter levels for PM2.5 and PM10, particulate pollution linked to a host of health issues. The new guidelines are an excellent start, but countries still have to adhere to them, with a third of nations still having no air quality standards at all.
Adverse circumstances
Events that move the needle in the wrong direction
Conflicting priorities
Many, many column inches have been devoted to the various iterations of the massive US climate bills as they have evolved over the past months. However, even after so many revisions, they seem far from certain to pass. A key figure in much of the current discussion is Joe Manchin, a moderate Democrat seen as crucial to passing the bills in a divided Senate. However, he also has close ties to the fossil fuel industry, and earns half a million dollars a year from a family coal business, making his motivations rather conflicted – he is now proposing further weakening and delay of the bills, putting their future ever more in doubt.
Funding the thaw
Despite many major banks declaring Arctic oil and gas off limits, funding for exploration projects is growing. Energy firms have received $314bn in financial support between 2016-20 from a host of banks to explore and exploit resources in the region, and production is set to rise 20% in the next five years. It would seem that well intentioned pledges are swift to fall by the wayside when profits are at stake.
Long Reads
Interesting deep-dives into climate-related topics
The Murdoch media empire has long been associated with climate denial, providing platforms across the world for various commentators to attack climate legislation and promote delay and denial. However, as Vice reports, News Corp have internally been very aware of climate change since 2006, and promote themselves as a carbon neutral business. Ultimately, it seems it’s all about the money – green measures have saved the business millions, whilst promoting climate denial and delay in their media properties has raked in money, contradiction be damned.
Green hydrogen is another regular in the climate news world. Part of its appeal is that it offers the possibility of negating the emissions of so many sectors. However, as Grist points out, whilst clean hydrogen offers a much needed solution in hard-to-decarbonise areas like aviation and shipping, much of the focus is being shifted to others like heating and cooking, largely due to pressure from fossil fuel companies and utilities keen to stay relevant.
Quick Headlines
Some quick climate news nuggets to sate your appetite
California has signed off on a $15bn climate bill, its largest ever climate-focused legislation package.
Addison Lee, London’s largest taxi firm, is to fully electrify its 4,000 strong vehicle fleet by 2023.
A new report puts the annual e-waste bill from bitcoin as equivalent to that of the Netherlands, with each transaction equivalent to junking two iPhones.