ANZ revises climate and coal rules, but criticised as ‘almost satirical’ because it allows financing of new coal mines and allows it to increase its carbon footprint.
Monday’s Trans Pacific Partnership agreement has sparked anger among green groups who say it is a betrayal of the environment, a disaster for climate policy, and a boon for the fossil fuel industry.
Pared back draft of COP21 climate pact calls for nations to aim high on policy commitments, boost them every five years.
IEA says outlook for renewables excellent, with falling costs to help Paris climate talks. But Australia is one country where it has had to wind back its forecasts.
Turnbull says emissions trading schemes are a “valid mechanism”, but Coalition will continue with Direct Action, at least until review in 2017.
Strangely, the one government that can move to depoliticise climate is the Coalition.
Financial markets are finally catching up to the news: Fossil fuels are in decline in both transport and electricity, and the woes of VW and Glencore. Even the Bank of England has sounded a warning. Meanwhile, the likes of BHP, Origin and AGL are trying to convince investors that everything is OK.
New study says that pledges made for the Paris climate conference will miss the 2°C goal by a big margin. The reductions will steer the world towards a 3.5°C outcome, but may provide a window to enable major polluters to catch up.