Everybodys Doing It Now proved to be a big hit song for Irving Berlin in 1911. On the evidence offered by this issues featured stories, it does not seem likely to be taken up by the climate change movement as their theme song. They are more on the backfoot than Nick Clegg.
The evidence is clear.
Seemingly the only target London’s super-Olympics can’t meet is its renewable power generation target. Climate change failure. Climate change failure. The UK Department of Energy and Climate Change is conserving its energy by being in ‘listening mode’ on solar. (Translated from Whitehall mandarin this means: “Keeping silent while preparing to ditch the programme”). Climate change failure. FTSE100 companies’ voluntary off-setting is ‘pitifully low’. Climate change failure.
So far, so depressing.
Just when you thought it couldn’t get any worse…The US Congress, taking a recuperative break from not dealing with its $14,260,000,000,000 deficit, has found time to block legislative measures that might have restrained carbon emissions. It is hard to see how carbon emissions can be successfully curtailed without a significant legislative and fiscal nudge. So, big time climate change failure up on the hill.
The climate has changed on climate change. Five or six years ago there seemed to be just the glimmer of hope that governments, industry and public opinion might align behind a concerted effort to move towards a low-carbon economy. In one or two places the body is still twitching. However, it looks increasingly as if the patient will leave intensive care via the mortuary rather than transfer to a general ward. Peter is an Associate Director at Corporate Citizenship.
Europe’s top 300 emitters ranked for the first time
For the first time, Europe’s 300 biggest companies are being ranked according to their Greenhouse Gas emissions. The ET Europe 300 Carbon Ranking highlights the best and the worst of the continent’s top businesses, focusing not just on emissions but also on levels of disclosure and verification. The Environmental Investment Organisation (EIO), a UK based independent non-profit research body, employs a transparent methodology for its Ranking, based on public reporting of Scope 1 and 2 emissions according to Greenhouse Gas Protocol. First place Aviva is followed closely by Dutch firm Aegon, which offers Life Insurance, Pensions and Asset Management services. The top three non-financial companies are Switzerland’s leading Telecoms provider Swisscom, followed by Nokia and BSkyB. Currently, 129 companies out of Europe’s largest 300 report ‘public, complete and verified’ data for their Scope 1 & 2 Greenhouse Gas (GHG) emissions.
US House of Representatives passes energy tax prevention act
On April 7, The House of Representatives passed The Energy Tax Prevention Act, sponsored by the Chairman of the Energy and Commerce Committee. This act would prohibit the Environmental Protection Agency from using the Clean Air Act to regulate greenhouse gas emissions. Opponants of the energy tax see this move as the first step in stopping the Obama Administration’s attempt to raise energy prices. President Obama has vowed to veto the Energy Tax Prevention Act of 2011 if it manages to pass through the Senate. Proponents of the Energy Tax Prevention Act claim the EPA’s regulations cost Americans their jobs and unnecessary expenses on behalf of businesses. Those who support the EPA’s authority to tax greenhouse gas emission say it is a vital function of the Clean Air Act and such regulation is necessary to contain climate change.
2012 Olympics to meet less than 50% of renewable power generation target
The 2012 Olympics is to miss a target of generating 20% of its energy from renewable sources, according to report released on April 11. A report, the fourth yearly independent review of the environmental credentials of the Olympics, has been published by the Commission for a Sustainable London 2012. According to the report, the Olympic Delivery Association (ODA) will meet its overall target of a 50% reduction in carbon emissions. However, only 9% of the site’s power will come from renewable energy, less than half of the original 20% planned by the ODA. Shaun McCarthy, Chair of the Commission for a Sustainable London 2012, says: “While we’re satisfied that the ODA has made strenuous efforts to find financially viable solutions to meet its carbon reduction targets, it’s unfortunate that the renewable energy sector was unable to deliver a workable solution for the Olympic Park.”
Contact: Commission for a Sustainable London 2012 www.cslondon.org
Carbon Retirement report covers the state of offsetting in the FTSE 100
A report released by Carbon Retirement on April 17 has revealed that voluntary offsetting in the FTSE 100 is confined to only three sectors: Financials, Consumer Discretionary and Consumer Staples and that 21 FTSE 100 companies offset, with only 6 of these claiming to be carbon neutral. No offsetting is reported in the IT, Healthcare or Telecommunications sectors, all of which have low-carbon intensity. Lack of voluntary action from these companies, plus sectors with medium/high carbon intensity, means that only 0.1% of FTSE 100 carbon emissions are being voluntarily offset. The report made a series of recommendations based on its findings, including the following;
Non-carbon intensive sectors that do not currently use voluntary offsets need to follow the lead of the sectors that do.
Voluntary offsetting, as well as ambitious emission reduction strategies, must begin to play a more substantial role amongst medium-high intensity companies.
Offsets must be verified by a high quality third-party standard.
Methods and standards must be clearly disclosed so claims can be assessed by stakeholders.
Dedicated low carbon finance scheme for UK businesses
UK businesses can now apply for green equipment finance from Carbon Trust and Siemens. Worth up to £550 million over the next three years, the dedicated low carbon finance scheme is the first of its kind and will enable UK businesses to invest in cost effective energy efficiency equipment and other low carbon technologies, such as new efficient lighting and biomass heating. Siemens Financial Services UK Ltd will provide the financial backing and manage the provision of funding, whilst Carbon Trust Implementation Services Limited (a subsidiary of the Carbon Trust) will use its expertise in carbon saving from energy efficient technologies to independently assess the carbon, energy and cost savings of any project. This should enable the financing to pay for itself through energy savings and result in no net cost to the customer.
The Confederation of British Industry has warned that that the UK is failing to attract the level of investment needed to build low-carbon infrastructure. With a third of energy supply due to close in the next decade and ambitious emissions reductions targets to meet, the UK’s power sector alone needs £150 billion of private sector investment over the next twenty years, according to the group. However, in a new report called Risky Business: Investing in the UK’s low-carbon infrastructure, the CBI reveals that senior business leaders are not convinced that the UK can attract low-carbon investment at the scale and pace required. The CBI is calling for the Government to:
Develop a long-term, low-carbon growth strategy and delivery plan for the UK.
Send the right investment signals through reform of the electricity market.
Implement a planning system that will facilitate growth and aim to tackle the backlog of energy infrastructure projects waiting approval.
Make the Green Deal for energy efficiency workable for investors by designing a viable financial model where no party will bear a disproportionate level of financial risk.
Allow a Green Investment Bank to issue government guaranteed bonds as soon as possible.
Contact: Confederation of British Industry www.cbi.org.uk
Google invests £61 million in world’s largest wind farm
Google recently invested approximately $100 million in the Shepherds Flat Wind Farm, anticipated to be the largest wind farm in the world. Shepherds Flat is currently under construction in Oregon in the US, and when completed in 2012 will produce 845 MW of energy, enough to power more than 235,000 homes. This project brings Google’s total invested in clean energy to more than $350 million, including the company’s most recent investments in a German solar photovoltaic plant and in the BrightSource Ivanpah solar power tower – the largest solar energy project in the world.
Contact: Google googleblog.blogspot.com
New group purchasing model slashes cost of solar power
As the solar market in the United States surpasses $6 billion, a new report demonstrates how governments and businesses can save money by joining together to buy solar power. The report, ‘Purchasing Power: Best Practices Guide for Collaborative Solar Procurement’ was issued by the World Resources Institute and Joint Venture: Silicon Valley Network. Collaborative solar purchasing allows governments, businesses or universities in the same region to collectively negotiate solar power contracts. The guide presents an approach to solar power purchasing that can yield 10 to 15% lower costs and save 75% of administrative time and fees, while helping participants negotiate better contract terms to save money in the long run.
Climate Legislation improves in 16 major World Economies
A new study released by GLOBE international, the Global legislators Orgisation for a Balanced environment, in partnership with the Gratham Institute for Climate Change at the London School for Economics, found that legislation is being advanced in all 16 of the world’s largest economies. The report provides a comprehensive study into the actions on climate and other energy related issues regarding legislation on all 16 of the countries studies, finding that most of the legislative activity has taken place over the last year and a half and comments on the fact that the large developing countries of Brazil, China, India, Mexico and South Africa are developing laws to tackle climate change.
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