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World’s Biggest Sovereign Wealth Fund Dumps Dozens of Coal Companies – February 6, 2015

Norway’s giant fund removes investments made risky by climate change and other environmental concerns, including coal, oil sands, cement and gold mining

The world’s richest sovereign wealth fund removed 32 coal mining companies from its portfolio in 2014, citing the risk they face from regulatory action on climate change.

smokestacksPhoto by Curt Carnemark/World BankThe country’s $850 billion sovereign wealth fund, GPFG, has published its divestment details in its first report on responsible investing.

Norway’s Government Pension Fund Global (GPFG), worth $850bn and founded on the nation’s oil and gas wealth, revealed a total of 114 companies had been dumped on environmental and climate grounds in its first report on responsible investing, released on Thursday. The companies divested also include tar sands producers, cement… more

by: The Guardian

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Keystone Pipeline: Oil Price Drop Will Worsen Climate Impact, EPA Warns – February 3, 2015

Falling oil prices could mean higher carbon pollution for the controversial pipeline, a finding that gives Obama new cause to reject the project

Falling oil prices have changed the economic viability of the Keystone XL pipeline — and that means the project would result in much higher carbon pollution, the Environmental Protection Agency (EPA) said on Tuesday.

The finding hands President Barak Obama new grounds on which to reject the pipeline, only days after the Senate voted to force approval of the project and as the House Republican leadership moved to a final vote that could send a pipeline bill toward the president’s desk as soon as next week.

Keystone pipline protest in NYCPhoto by Michael FleshmanThe EPA says that the recent drop in oil prices means… more

by: The Guardian

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White House Unveils Plan to Open Atlantic Waters to Offshore Oil Drilling – January 30, 2015

Move to lease large swaths of ocean along east coast and double down in Gulf of Mexico oddly comes in wake of attacks against right for climate change denial

President Barack Obama pivoted from his goal of fighting climate change on Tuesday, setting out a plan to allow the first oil drilling in Atlantic waters off the US east coast but bar companies from some of the pristine waters off the north coast of Alaska.

Offshore Oil Rigphoto by Stephen Conn, on FlickrThe proposals could allow the first oil drilling rigs off the Outer Banks of the Carolinas and other tourist destinations near Virginia and Georgia.

Arriving a week after the president attacked climate deniers in his State of the Union… more

by: The Guardian

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Obama Attacks Republicans’ Climate Denial but Offers No New Green Initiatives – January 21, 2015

However, the President's State of the Union speech didn't didn't tout his “all of the above” energy strategy either

President Barak Obama insisted forcefully before his newly empowered opposition on Tuesday that he would hold the line against attacks on his domestic and international climate agenda. But even though he called out climate deniers once again, the president offered no concrete sign of new initiatives on the horizon in his remaining two years in power.

President Barak ObamaPhoto by David Souza/WhiteHouse.gov “I’ve heard some folks try to dodge the evidence by saying they’re not scientists,” Obama said. “Well, I’m not a scientist, either.”

After repeatedly using his executive authority to advance climate measures, Obama pivoted in his State of the Union address to… more

by: The Guardian

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Obama Moves to Cut Methane Emissions by Almost Half – January 14, 2015

EPA to cut oil and gas industry methane emissions by 45% by 2025

President Barak Obama will unveil a plan to cut methane emissions from America’s booming oil and gas industry by as much as 45 percent over the next decade in an attempt to cement his climate legacy during his remaining two years in the White House.

The new methane rules – which will be formally unveiled on Wednesday - are the last big chance for Obama to fight climate change.

Gas flare in parklandPhoto courtesy of WildEarth GuardiansGas flare at fracking site near Colorado's Pawnee National Grassland. It's yet not clear whether the new rules would apply to existing oil and gas installations in addition… more

by: The Guardian

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