Carbon Economy

From The Australian: THE Queensland government, as host of last weekend’s G20 ­summit, is incensed over what it sees as an ill-informed, insulting speech from Barack Obama about climate change, the Great Barrier Reef and coal.

From Citi:  The US and China jointly pledged to fight climate change by implementing new greenhouse gas (GHG) emission targets.

From Professor Warwick McKibbin today: The basic problem is that the debate on climate policy is a battle between extremes…Climate policy design is not about certainty and targets.

From Fairfax: German Chancellor Angela Merkel has added to international calls on Australia to reveal its plans for cutting greenhouse gas emissions, telling an audience in Sydney that climate change “won’t stop at the Pacific Islands”.

Cross-posted from The Conversation: While most of the world is celebrating the US–China pact on climate change, the deal puts pressure on the Australian government and resources companies to rethink relations with China.

I noted recently that Business Spectator’s Robert Gottleibsen did not understand how a carbon price worked when he argued that cutting it would boost consumer spending (the boost is in not taking back the carbon price funded tax cuts).

Regular readers will know that I’ve got no particular problem with the Tony Abbott’s Direct Action plan for carbon mitigation.

From Gina’s mining note: The historic climate deal between the US and China may impact Australian coal exports less than feared, but will put pressure on Australia to toughen its emissions reduction targets domestically.

Fabulous news from CNN: At the end of a trade summit in China, U.S.

From Fairfax: The government’s plan to dilute the renewable energy target is in limbo as Clive Palmer has backed Labor’s decision to walk away from talks and declared he won’t be doing a deal with the Coalition either.

The Australia Institute (TAI) has released a new report questioning Prime Minister, Tony Abbott’s, claim that “coal is good for humanity” and poor people in particular.

From The Australian: BURNING coal for electricity must be eliminated by 2100 unless carbon dioxide emissions are captured and stored, according to a key report by the Intergovernmental Panel on Climate Change.

From Business Spectator: The federal government’s $2.55 billion Direct Action climate policy will pass the Senate after a deal was struck with the Palmer United Party.

An amusing take on carbon pricing today from Gotti: Take a bow Tony Abbott.

From ABC: European Leaders agreed early Friday to cut greenhouse gas emissions in the 28-nation bloc to at least 40 percent below 1990 levels by 2030.

Sigh…from Farifax: Australia’s $20 billion alternative energy sector has been plunged into fresh uncertainty after the federal government indicated further policy changes to reduce the reliance on wind and solar power, potentially leaving billions of dollars invested in the sector stranded or devalued.

The ludicrously ideological attack underway on ANU ethical investment reaches new lows today at the AFR with a story attempting to concoct  conspiracy where, in fact, there is nothing more than various folks sharing green views.

I’ve been avoiding a story all week in the hope that it will go away.

by Chris Becker The scientific community at large has been successful at convincing a majority of the public that the risks of global climate change are rising, due to man-made contributions from carbon dioxide pollution.

By Leith van Onselen A lead advisor on climate policy to German Chancellor Angela Merkel has slammed Australia’s complacency on climate change and labeled the Abbott Government’s championing of the coal industry as an economic “suicide strategy”.

By Leith van Onselen The New South Wales Chief Scientist, Mary O’Kane, last night delivered her Final Report of the Independent Review of Coal Seam Gas Activities in NSW, which apears to have struck an appropriate balance between the economic opportunities of CSG and health and environment concerns.

by Chris Becker Sheriff 2.0 Tony Abbott is hearing but not receiving some powerful signals across the world that his government’s “she’ll be right” stance on climate change cannot continue.

From the AFR: The globe’s largest investment funds, worth a collective $20 trillion, have called on world governments to move urgently on climate change policy and provide a stable setting for green investment before a key United Nations summit next week.