Energy needs and climate challenges: Gas on the march

Qatar’s reserves soared from 8.5 trillion cubic meters in 1995, to 25.78 trillion cubic meters in 2001. Thanks to shale gas, the United States is becoming one of the world’s leading natural gas exporters. According to the IEA, gas will account for the second biggest share, after oil, of the global energy mix by 20402. Natural gas used to generate power emits only half as much greenhouse gas as its energy equivalent in coal. Using agricultural by products would yield an energy content of roughly


Qatar’s reserves soared from 8.5 trillion cubic meters in 1995, to 25.78 trillion cubic meters in 2001. Thanks to shale gas, the United States is becoming one of the world’s leading natural gas exporters. According to the IEA, gas will account for the second biggest share, after oil, of the global energy mix by 20402. Natural gas used to generate power emits only half as much greenhouse gas as its energy equivalent in coal. Using agricultural by products would yield an energy content of roughly
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Energy needs and climate challenges: Gas on the march

Global Tour of Planet Gas

The five countries with the biggest proven reserves are1:

Russia, with 35 trillion cubic meters, or 18.1 percent of global reserves.

Iran, with 33.2 trillion cubic meters, or 17.2 percent of the world’s reserves.

Qatar, with 24.9 trillion cubic meters, or 12.9 percent of global reserves. Qatar’s reserves soared from 8.5 trillion cubic meters in 1995, to 25.78 trillion cubic meters in 2001.

Turkmenistan, with 19.5 trillion cubic meters, or 10.1 percent of global reserves.

The United States, with 8.7 trillion cubic meters, or 4.5 percent of global reserves.

As with oil, recent technological innovations are enabling gas exploration to reach offshore, Arctic Circle and ultra-deepwater reserves considered difficult to develop before. Today nearly two-thirds of new finds are offshore. Technological innovations are also keeping costs low and increasing productivity for onshore shale gas and tight gas production. IFP Énergies nouvelles (IFPEN) expects production to increase 50 percent by 2020. Potential yet-to-find gas resources could cover up to 120 years of global consumption.

The unconventional gas — shale gas and coalbed methane — revolution has upset the global applecart in the last decade. Found worldwide, in North and South America, China, Australia and Russia, among others, technically recoverable reserves have soared to almost 240 years of consumption1. Many experts believe that unconventional gas resources2 are every bit as sizable as their conventional counterparts.

Global production is dominated by the United States, which is now the world’s top gas producer, with output of 750 billion cubic meters in 20163. Today, gas is the country’s second-biggest energy resource, supplying more than half of U.S. households. Thanks to shale gas, the United States is becoming one of the world’s leading natural gas exporters.

Reserve estimates are tricky given how much reserve volumes change with shifting economic and technological parameters; no one can confirm the accuracy of the figures. Because governments aren’t subject to shared standards, only publicly listed oil and gas companies are required to provide exact figures. Yet many of the biggest ones are national oil companies.

As global demand climbs, the energy mix includes more natural gas (a quarter of demand in 20174). According to the IEA, gas will account for the second biggest share, after oil, of the global energy mix by 20402. China alone accounts for a third of gas demand (31 billion cubic meters1). Power generation and industry are — and will remain — the main drivers of this expansion. Gas will increasingly replace coal in both sectors.

Most important, however, natural gas is the lowest-carbon fossil fuel. It emits fewer air pollutants such as PM 2.5, or fine particulates that become suspended in the air; NOx, or gases composed of nitrogen and oxygen; and SOx, or gases made up of sulfur and oxygen. All are harmful to human health and regularly singled out by the WHO (World Health Organization). Greater use of natural gas in transportation, housing and industry will sharply curtail those emissions. Already, big cities such as New York, Toronto, Dublin, Istanbul and Berlin have seen their air pollution rates drop by 69 to 98 percent after natural gas was substituted for heavy fuel oil or coal in industry and power generation5.

Gas also partners well with the growing use of renewables, certain of which suffer from intermittent availability. The operational flexibility of gas-fired power plants — fast restarts and fast build-up to full capacity — makes them a good match for renewables. Natural gas used to generate power emits only half as much greenhouse gas as its energy equivalent in coal. That makes gas an ally in the energy transition to carbon-neutral, less polluting economies.

Gas can also be a renewable energy. Biogas, obtained by treating agriculture, forest or any other organic waste source, has strong future potential. According to France’s Association technique énergie environnement (ATEE), 750 million tons of oil equivalent (Mtoe) could be produced worldwide each year via methanation of municipal waste. Using agricultural by products would yield an energy content of roughly 1,000 Mtoe a year, enough to cover global gas consumption.


Company: cnbc, Activity: cnbc, Date: 2018-12-24
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Bank of England could include climate change impact in UK stress tests next year

The Bank of England (BOE) is making plans to include the impact of climate change in U.K. bank stress tests, the Financial Times reported Monday. The stress tests largely look at a bank’s capital buffers in times of severe financial stress but also include a separate “exploratory scenario” every two years. In 2017, the first exploratory scenario looked at the competition from financial technology but could concentrate on climate change in 2019, the FT said. And so the question is whether (climat


The Bank of England (BOE) is making plans to include the impact of climate change in U.K. bank stress tests, the Financial Times reported Monday. The stress tests largely look at a bank’s capital buffers in times of severe financial stress but also include a separate “exploratory scenario” every two years. In 2017, the first exploratory scenario looked at the competition from financial technology but could concentrate on climate change in 2019, the FT said. And so the question is whether (climat
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Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: anmar frangoul, alexandros maragos, moment, getty images
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Bank of England could include climate change impact in UK stress tests next year

The Bank of England (BOE) is making plans to include the impact of climate change in U.K. bank stress tests, the Financial Times reported Monday.

The stress tests largely look at a bank’s capital buffers in times of severe financial stress but also include a separate “exploratory scenario” every two years.

In 2017, the first exploratory scenario looked at the competition from financial technology but could concentrate on climate change in 2019, the FT said.

“From the first one we learnt a lot about how the banks managed or didn’t manage these types of issues,” BOE Governor Mark Carney told the FT in an interview.

“And it was quite instructive. And so the question is whether (climate change) is the next one, or the one after.”

Read the full story from the Financial Times here.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: anmar frangoul, alexandros maragos, moment, getty images
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Most Americans want action on climate change. Republicans are the exception: Poll

Americans have reached consensus on the need to act in response to climate change with one conspicuous exception: Republicans. A 56 percent majority of the GOP says either that concern about climate change is unwarranted or that more research is necessary before taking action. In 1999, the NBC/WSJ poll showed that just 15 percent of Republicans believed that climate change had been established as a serious problem requiring an immediate response. Opponents of action, including Trump, typically i


Americans have reached consensus on the need to act in response to climate change with one conspicuous exception: Republicans. A 56 percent majority of the GOP says either that concern about climate change is unwarranted or that more research is necessary before taking action. In 1999, the NBC/WSJ poll showed that just 15 percent of Republicans believed that climate change had been established as a serious problem requiring an immediate response. Opponents of action, including Trump, typically i
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Most Americans want action on climate change. Republicans are the exception: Poll

Americans have reached consensus on the need to act in response to climate change with one conspicuous exception: Republicans.

A new NBC News/ Wall Street Journal poll identifies that sharp break in the evolving pattern of public opinion as scientists have amplified their warnings of rising global temperatures and linked them to a range of natural disasters. Overall, 66 percent of Americans now say they’ve seen enough evidence to justify action, up from 51 percent two decades ago.

That figure incorporates 85 percent of Democrats, 79 percent of independents, 71 percent of women, 61 percent of men and strong majorities of all racial groups. At least 55 percent agree on the need for action in all regions of the country, and at all age, education and income levels.

Resistance comes only from the one-third of Americans who identify themselves as Republicans. A 56 percent majority of the GOP says either that concern about climate change is unwarranted or that more research is necessary before taking action.

The survey shows how deeply the Republican rank and file has absorbed the messages from GOP leaders and media outlets that fears about the issue have been either exaggerated or fabricated outright. Republican Congressional leaders opposed decisions by President Clinton and Obama to curb US carbon emissions in concert with action by other nations.

Read More: Voters are uneasy over probes swirling around Trump, as majority question his honesty: NBC-WSJ poll

President Trump, who has called climate change a “hoax,” last year announced the U.S. would withdrawn from the 2015 Paris Agreement joined by 196 countries. The result makes Republicans stand out among those whose sense of urgency has not budged over 20 years and four different presidents.

In 1999, the NBC/WSJ poll showed that just 15 percent of Republicans believed that climate change had been established as a serious problem requiring an immediate response. Today that proportion remains unchanged at 15 percent, while the share of Democrats and independents who expressed urgent concern has risen sharply.

Opponents of action, including Trump, typically insist the financial costs of curbing climate change exceed potential benefits. But the NBC/WSJ survey shows most Americans now disagree.

A 52 percent majority says that failure to address climate change will cost more through the consequences of weather-related events such as droughts or floods. Just 35 percent say that action will raise energy prices and cost more.

Here, too, opinion breaks sharply by party. Some 63 percent of Democrats and 59 percent of independents say action will cost less than inaction. But just 35 percent of Republicans agree, outpaced by the 48 percent of Republicans who believe action will cost more.

The telephone survey of 900 adults was conducted Dec. 9-12. It carries a margin for error of 3.27 percentage points.


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: john harwood, visions of america, getty images
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Teen activist tells leaders they aren’t ‘mature enough’ to take proper action on climate change

15-year-old Greta Thunberg, a Swedish student, grabbed headlines this past week with her tough message for climate change negotiators at a United Nations climate summit in Poland. “You are not mature enough to tell it like is,” she said at a climate summit that ended on Sunday. Vermont Sen. Bernie Sanders tweeted footage of her speech, saying she “called out world leaders for their global inaction on climate change.” “You have ignored us in the past, and you will ignore us again,” she told leade


15-year-old Greta Thunberg, a Swedish student, grabbed headlines this past week with her tough message for climate change negotiators at a United Nations climate summit in Poland. “You are not mature enough to tell it like is,” she said at a climate summit that ended on Sunday. Vermont Sen. Bernie Sanders tweeted footage of her speech, saying she “called out world leaders for their global inaction on climate change.” “You have ignored us in the past, and you will ignore us again,” she told leade
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Teen activist tells leaders they aren't 'mature enough' to take proper action on climate change

15-year-old Greta Thunberg, a Swedish student, grabbed headlines this past week with her tough message for climate change negotiators at a United Nations climate summit in Poland.

“You are not mature enough to tell it like is,” she said at a climate summit that ended on Sunday. “Even that burden you leave to us children.”

Her remarks quickly gained attention on social media, and video of her speech was shared by leading climate scientists and officials. Vermont Sen. Bernie Sanders tweeted footage of her speech, saying she “called out world leaders for their global inaction on climate change.”

The teenager spoke on behalf of Climate Justice Now, a global network of climate advocacy groups. Officials from nearly 200 countries gathered in Poland to set rules that will govern the Paris Agreement on climate change, which aims to limit global warming.

“You have ignored us in the past, and you will ignore us again,” she told leaders. “You say you love your children above all else, and yet you are stealing their future in front of their very eyes.”

While Thunberg is young, she’s spent years working as a climate activist.

Earlier this year she went on strike from school, holding a sign outside the Swedish parliament building in Stockholm that read, “school strike for climate.” Thunberg, who describes herself on Twitter as a 15-year-old climate activist with Asperger’s, said she was inspired by the school walkouts in the United States that followed the Parkland school shooting.

“We have done this many times before and with so little results,” she told CNN. “Something big needs to happen. People need to realize our political leaders have failed us. And we need to take action into our own hands.”


Company: cnbc, Activity: cnbc, Date: 2018-12-17  Authors: emma newburger, photo beata zawrzel nurphoto via getty images
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Nations agree on rules to govern Paris climate accord after weeks of talks

After two weeks of bruising negotiations, officials from almost 200 countries agreed Saturday on universal, transparent rules that will govern efforts to cut emissions and curb global warming. The deal agreed upon at U.N. climate talks in Poland enables countries to put into action the principles in the 2015 Paris climate accord. Among those that pushed back hardest was the United States, despite President Donald Trump’s decision to pull out of the Paris climate accord and promote the use of coa


After two weeks of bruising negotiations, officials from almost 200 countries agreed Saturday on universal, transparent rules that will govern efforts to cut emissions and curb global warming. The deal agreed upon at U.N. climate talks in Poland enables countries to put into action the principles in the 2015 Paris climate accord. Among those that pushed back hardest was the United States, despite President Donald Trump’s decision to pull out of the Paris climate accord and promote the use of coa
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Nations agree on rules to govern Paris climate accord after weeks of talks

After two weeks of bruising negotiations, officials from almost 200 countries agreed Saturday on universal, transparent rules that will govern efforts to cut emissions and curb global warming. Fierce disagreements on two other climate issues were kicked down the road for a year to help bridge a chasm of opinions on the best solutions.

The deal agreed upon at U.N. climate talks in Poland enables countries to put into action the principles in the 2015 Paris climate accord.

But to the frustration of environmental activists and some countries who were urging more ambitious climate goals, negotiators delayed decisions on two key issues until next year in an effort to get a deal on them.

“Through this package, you have made a thousand little steps forward together,” said Michal Kurtyka, a senior Polish official chairing the talks.

He said while each individual country would likely find some parts of the agreement it didn’t like, efforts had been made to balance the interests of all parties.

“We will all have to give in order to gain,” he said. “We will all have to be courageous to look into the future and make yet another step for the sake of humanity.”

The talks in Poland took place against a backdrop of growing concern among scientists that global warming on Earth is proceeding faster than governments are responding to it. Last month, a study found that global warming will worsen disasters such as the deadly California wildfires and the powerful hurricanes that have hit the United States this year.

And a recent report by the Intergovernmental Panel on Climate Change, or IPCC, concluded that while it’s possible to cap global warming at 1.5 degrees Celsius (2.7 degrees Fahrenheit) by the end of the century compared to pre-industrial times, this would require a dramatic overhaul of the global economy, including a shift away from fossil fuels.

Alarmed by efforts to include this in the final text of the meeting, the oil-exporting nations of the U.S., Russia, Saudi Arabia and Kuwait blocked an endorsement of the IPCC report mid-way through this month’s talks in the Polish city of Katowice. That prompted an uproar from vulnerable countries like small island nations and environmental groups.

The final text at the U.N. talks omits a previous reference to specific reductions in greenhouse gas emissions by 2030, and merely welcomes the “timely completion” of the IPCC report, not its conclusions.

Last-minute snags forced negotiators in Katowice to go into extra time, after Friday’s scheduled end of the conference had passed without a deal.

One major sticking point was how to create a functioning market in carbon credits. Economists believe that an international trading system could be an effective way to drive down greenhouse gas emissions and raise large amounts of money for measures to curb global warming.

But Brazil wanted to keep the piles of carbon credits it had amassed under an old system that developed countries say wasn’t credible or transparent.

Among those that pushed back hardest was the United States, despite President Donald Trump’s decision to pull out of the Paris climate accord and promote the use of coal.

“Overall, the U.S. role here has been somewhat schizophrenic — pushing coal and dissing science on the one hand, but also working hard in the room for strong transparency rules,” said Elliot Diringer of the Center for Climate and Energy Solutions, a Washington think tank.

When it came to closing potential loopholes that could allow countries to dodge their commitments to cut emissions, “the U.S. pushed harder than nearly anyone else for transparency rules that put all countries under the same system, and it’s largely succeeded.”

“Transparency is vital to U.S. interests,” added Nathaniel Keohane, a climate policy expert at the Environmental Defense Fund. He noted that breakthrough in the 2015 Paris talks happened only after the U.S. and China agreed on a common framework for transparency.

“In Katowice, the U.S. negotiators have played a central role in the talks, helping to broker an outcome that is true to the Paris vision of a common transparency framework for all countries that also provides flexibility for those that need it,” said Keohane, calling the agreement “a vital step forward in realizing the promise of the Paris accord.”

Among the key achievements in Katowice was an agreement on how countries should report their greenhouse gas emissions and the efforts they’re taking to reduce them. Poor countries also secured assurances on getting financial support to help them cut emissions, adapt to inevitable changes such as sea level rises and pay for damages that have already happened.

“The majority of the rulebook for the Paris Agreement has been created, which is something to be thankful for,” said Mohamed Adow, a climate policy expert at Christian Aid. “But the fact countries had to be dragged kicking and screaming to the finish line shows that some nations have not woken up to the urgent call of the IPCC report” on the dire consequences of global warming.

But a central feature of the Paris Agreement — the idea that countries will ratchet up their efforts to fight global warming over time — still needs to be proved effective, he said.

“To bend the emissions curve, we now need all countries to deliver these revised plans at the special U.N. Secretary General summit in 2019. It’s vital that they do so,” Adow said.

In the end, a decision on the mechanics of an emissions trading system was postponed to next year’s meeting. Countries also agreed to consider the issue of raising ambitions at a U.N. summit in New York next September.

Speaking hours before the final gavel, Canada’s Environment Minister Catherine McKenna suggested there was no alternative to such meetings if countries want to tackle global problems, especially at a time when multilateral diplomacy is under pressure from nationalism.

“The world has changed, the political landscape has changed,” she told The Associated Press. “Still you’re seeing here that we’re able to make progress, we’re able to discuss the issues, we’re able to come to solutions.”

WATCH: Trump: Paris climate deal was very unfair to US


Company: cnbc, Activity: cnbc, Date: 2018-12-15  Authors: anadolu agency, getty images
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Act on climate change or risk global financial instability, $32 trillion investor alliance warns

More than four hundred investors have urged governments to act on climate change or risk the stability of their financial systems. Lobby group The Investor Agenda (IA) issued a statement on Monday on behalf of 415 global investors, who collectively manage $32 trillion. The Paris Agreement was drafted in 2015 and set out targets to help international economies work towards reducing carbon emissions. Signatories of Monday’s statement agreed that lawmakers needed to address climate change “with urg


More than four hundred investors have urged governments to act on climate change or risk the stability of their financial systems. Lobby group The Investor Agenda (IA) issued a statement on Monday on behalf of 415 global investors, who collectively manage $32 trillion. The Paris Agreement was drafted in 2015 and set out targets to help international economies work towards reducing carbon emissions. Signatories of Monday’s statement agreed that lawmakers needed to address climate change “with urg
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Act on climate change or risk global financial instability, $32 trillion investor alliance warns

More than four hundred investors have urged governments to act on climate change or risk the stability of their financial systems.

Lobby group The Investor Agenda (IA) issued a statement on Monday on behalf of 415 global investors, who collectively manage $32 trillion.

The statement called on world governments to step up their efforts on achieving the goals of the Paris Agreement and commit to improve climate-related financial reporting. The IA also urged leaders to drive investment into low-carbon energy by taking action such as phasing out coal worldwide.

The Paris Agreement was drafted in 2015 and set out targets to help international economies work towards reducing carbon emissions.

Signatories of Monday’s statement agreed that lawmakers needed to address climate change “with urgency,” and warned that failing to act would create significant risks for the global economy, financial system and society.

“It is vital for our long-term planning and asset allocation decisions that governments work closely with investors to incorporate Paris-aligned climate scenarios into their policy frameworks,” the cohort said.

“The countries and companies that lead in implementing the Paris Agreement and enacting strong climate policies will see significant economic benefits and attract increased investment that will create jobs in industries of the future.”

The investors behind the statement include some of the world’s biggest insurers, pension funds and asset managers. A statement was originally drawn up in July but was reissued this week with backing from a record number of signatories, in conjunction with the COP24 summit on climate change in Katowice, Poland.

The Investor Group on Climate Change, whose members manage around $2 trillion in Australia and New Zealand, was one of the organisations driving support for the statement. CEO Emma Herd said in a statement in July that Group of 20 (G-20) leaders needed to set policies that provided investors with certainty to fund a secure and affordable low-emissions energy system.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: chloe taylor, kacper pempel, the ocean cleanup
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Planet-warming carbon emissions are rising in wealthy nations for the first time in five years

While wealthy nations continue to move away from burning coal, rising oil and natural gas consumption in those economies is increasing carbon emissions, the agency says. The report comes as the nations of the world gather in Katowice, Poland, for a United Nations meeting to assess their progress cutting greenhouse gas emissions since the 2015 Paris Agreement on climate change. In October, the U.N.’s Intergovernmental Panel on Climate Change reported that the path to staving off catastrophic impa


While wealthy nations continue to move away from burning coal, rising oil and natural gas consumption in those economies is increasing carbon emissions, the agency says. The report comes as the nations of the world gather in Katowice, Poland, for a United Nations meeting to assess their progress cutting greenhouse gas emissions since the 2015 Paris Agreement on climate change. In October, the U.N.’s Intergovernmental Panel on Climate Change reported that the path to staving off catastrophic impa
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Planet-warming carbon emissions are rising in wealthy nations for the first time in five years

Carbon dioxide emissions from advanced economies will rise in 2018 for the first time in five years, the International Energy Agency reports, marking a setback for the global campaign to fend off the worst effects of climate change.

Energy-related carbon emissions from North America, Europe and developed nations in the Asia-Pacific region are set to rise by about a half a percent this year, according to a preliminary assessment from the IEA. Over the past five years, the group saw its emissions fall by 3 percent.

The increase is being driven by higher energy use as the global economy grows at a brisk pace. While wealthy nations continue to move away from burning coal, rising oil and natural gas consumption in those economies is increasing carbon emissions, the agency says.

The report comes as the nations of the world gather in Katowice, Poland, for a United Nations meeting to assess their progress cutting greenhouse gas emissions since the 2015 Paris Agreement on climate change. The accord aims to prevent global temperatures from rising by more than 2 degrees Celsius above pre-industrial levels.

“This turnaround should be another warning to governments as they meet in Katowice this week,” IEA Executive Director Fatih Birol said in a statement. “Increasing efforts are needed to encourage even more renewables, greater energy efficiency, more nuclear, and more innovation for technologies such as carbon capture, utilisation and storage and hydrogen, for instance.”

In October, the U.N.’s Intergovernmental Panel on Climate Change reported that the path to staving off catastrophic impacts from climate change is quickly narrowing. Global temperatures could rise by 1.5 degree Celsius as soon as 2030, the climate change panel warned, requiring unprecedented global action to halt the increase.

Last month, the U.S. government issued an expansive study concluding that the effects of climate change could shrink the American economy by as much as 10 percent by 2100.

President Donald Trump dismissed the report last week, claiming climate change is not man-made and is not affecting the Earth yet. Trump withdrew the United States from the Paris Agreement last year and is pursuing policies to increase fossil fuel consumption.

The IEA says strong growth in oil demand, China’s growing natural gas consumption and new coal plant construction in emerging markets will drive an increase in global carbon emissions in 2018. Last year, global carbon emissions rose by 1.6 percent, ending a three-year period of flat-lining emissions.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: tom dichristopher, getty images
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The ‘Trump effect’ is slowing international progress on climate change, think tank warns

A so-called “Trump effect” is damaging global progress on climate change by harming international diplomacy, according to a report published Monday. Drafted in 2015, the agreement set out targets for international economies to work towards in order to reduce carbon emissions. “The ‘Trump effect’ has created a powerful countervailing force acting against the momentum (the Paris Agreement) hoped to generate,” he said in the report. Curtin noted three key areas where the Trump effect had “applied a


A so-called “Trump effect” is damaging global progress on climate change by harming international diplomacy, according to a report published Monday. Drafted in 2015, the agreement set out targets for international economies to work towards in order to reduce carbon emissions. “The ‘Trump effect’ has created a powerful countervailing force acting against the momentum (the Paris Agreement) hoped to generate,” he said in the report. Curtin noted three key areas where the Trump effect had “applied a
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The 'Trump effect' is slowing international progress on climate change, think tank warns

A so-called “Trump effect” is damaging global progress on climate change by harming international diplomacy, according to a report published Monday.

The report from the Institute of International and European Affairs (IIEA) considered the impact President Donald Trump was having on the objectives of the Paris Agreement. Drafted in 2015, the agreement set out targets for international economies to work towards in order to reduce carbon emissions.

Joseph Curtin, senior fellow at the IIEA and the author of the report, said the Trump administration’s policies were stalling progress towards those targets.

“The ‘Trump effect’ has created a powerful countervailing force acting against the momentum (the Paris Agreement) hoped to generate,” he said in the report.

Curtin noted three key areas where the Trump effect had “applied a brake” to the worldwide movement. He said federal rollbacks were increasing the attractiveness of fossil fuel investments; U.S. withdrawal from the agreement had created moral and political cover for other nations to follow suit; and goodwill at international negotiations was being damaged.

The U.S. withdrew from the Paris agreement in July, prompting concern of a knock-on effect on the prioritization of tackling climate change.

“At ongoing international climate negotiations, the Trump effect is slowing progress,” the report said. “The Trump administration has reneged on a pledge to the Green Climate Fund, leaving an outstanding liability of $2 billion, and has opposed stringent rules for reporting on efforts to scale up financial commitments from rich countries. These decisions have aggravated distrust between developed and developing countries, which is a necessary ingredient for progress.”

While the report said it was a mistake to deny the importance of the Trump effect, Curtin wrote that it was also a mistake to suggest that the Paris Agreement was in crisis.

“Major economies, international negotiators and investors have, to some extent, adopted a wait and see posture in advance of the U.S. presidential election on November 3, 2020,” the report said.

“However, withdrawal was no aberration. It reflected broader and deeper structural factors within the U.S. political economy, and is consistent with a pattern of Republican administrations extending back nearly four decades…

“In the short-run, the Paris Agreement can resist the Trump effect — it was designed to do so; but in the medium and longer-term, it will continue to be assailed by instability and uncertainty until these underlying structural factors can be addressed.”

Despite the Trump effect’s alleged impact on global attitudes towards climate change, many major economies are still prioritising the issue.

The EU announced Thursday that it was aiming to become the world’s first climate neutral economy by 2050, and this week will see thousands of people arrive in Katowice, Poland, for the UN’s COP24 summit on climate change.

A spokesperson for the White House was not immediately available for comment when contacted by CNBC.

WATCH: The Ocean Cleanup is launching a giant plastic catcher to sea to clean up 1.8 trillion ponds of trash


Company: cnbc, Activity: cnbc, Date: 2018-12-03  Authors: chloe taylor, joe raedle, getty images, the ocean cleanup
Keywords: news, cnbc, companies, withdrawal, climate, economies, change, tank, slowing, report, international, paris, progress, effect, warns, think, agreement, trump


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COP24: Why a climate change summit taking place in Poland is so important

Next week will see thousands of people arrive in Katowice, Poland, for the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change, otherwise known as COP24. The Paris Agreement, reached at COP21 in 2015, will loom large over events at Katowice. Other commitments made in Paris include increasing financing for climate action and the development of “national climate plans” by 2020. “People from around the globe will be watching to see what world leaders accompli


Next week will see thousands of people arrive in Katowice, Poland, for the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change, otherwise known as COP24. The Paris Agreement, reached at COP21 in 2015, will loom large over events at Katowice. Other commitments made in Paris include increasing financing for climate action and the development of “national climate plans” by 2020. “People from around the globe will be watching to see what world leaders accompli
COP24: Why a climate change summit taking place in Poland is so important Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: anmar frangoul, luiz filipe castro, moment, getty images
Keywords: news, cnbc, companies, summit, poland, change, united, paris, cop24, agreement, climate, round, nations, important, place, leonard, negotiations, world, taking, reached


COP24: Why a climate change summit taking place in Poland is so important

Next week will see thousands of people arrive in Katowice, Poland, for the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change, otherwise known as COP24.

Taking place between December 2 and 14, a lot is riding on the summit.

“The upcoming climate talks are the most important round of negotiations since the Paris Agreement was reached three years ago,” Lou Leonard, the World Wildlife Fund’s senior vice president for climate change and energy, told CNBC via email.

The Paris Agreement, reached at COP21 in 2015, will loom large over events at Katowice. It was at COP21 that world leaders committed to making sure global warming stayed “well below” 2 degrees Celsius above pre-industrial levels. They also agreed to pursue efforts to limit the temperature rise to 1.5 degrees Celsius.

According to the United Nations, COP24 is important because this year marks the deadline agreed by signatories of the Paris Agreement to adopt a “work program for the implementation” of the commitments they made in 2015.

Other commitments made in Paris include increasing financing for climate action and the development of “national climate plans” by 2020.

“People from around the globe will be watching to see what world leaders accomplish at this round of negotiations,” Leonard added. “It’s the biggest test we’ve seen of countries’ commitment to the Paris Agreement.”


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: anmar frangoul, luiz filipe castro, moment, getty images
Keywords: news, cnbc, companies, summit, poland, change, united, paris, cop24, agreement, climate, round, nations, important, place, leonard, negotiations, world, taking, reached


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Last four years were the hottest on record, UN agency says

The average global temperature for 2018 is set to be the fourth highest on record, the United Nations’ World Meteorological Organization (WMO) said Thursday. The 20 warmest years on record occurred in the last 22 years, while the “top four” took place in the last four years, the WMO added. These data were based on five global temperature data sets that were independently maintained, the WMO added. The WMO’s report comes just days before world leaders meet for a crucial climate change conference


The average global temperature for 2018 is set to be the fourth highest on record, the United Nations’ World Meteorological Organization (WMO) said Thursday. The 20 warmest years on record occurred in the last 22 years, while the “top four” took place in the last four years, the WMO added. These data were based on five global temperature data sets that were independently maintained, the WMO added. The WMO’s report comes just days before world leaders meet for a crucial climate change conference
Last four years were the hottest on record, UN agency says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: anmar frangoul, eric lafforgue art in all of us, corbis news, getty images
Keywords: news, cnbc, companies, agency, record, change, wmos, difference, temperature, hottest, climate, makes, statement, wmo, global


Last four years were the hottest on record, UN agency says

The average global temperature for 2018 is set to be the fourth highest on record, the United Nations’ World Meteorological Organization (WMO) said Thursday.

The 20 warmest years on record occurred in the last 22 years, while the “top four” took place in the last four years, the WMO added.

The WMO’s Provisional Statement on the State of the Climate in 2018 also found that “tell-tale signs of climate change” like sea-level rise, sea ice and glacier melt, and ocean heat and acidification were continuing. Extreme weather had “left a trail of devastation on all continents,” the WMO said.

The WMO’s report showed that for the first 10 months of the year, global average temperature was almost 1 degree Celsius above the pre-industrial baseline, which it defines as being between 1850 and 1900. These data were based on five global temperature data sets that were independently maintained, the WMO added.

“We are not on track to meet climate change targets and rein in temperature increases,” Petteri Taalas, the WMO’s secretary-general, said in a statement Thursday.

“Greenhouse gas concentrations are once again at record levels and if the current trend continues we may see temperature increases (of) 3-5°C by the end of the century,” he added. “If we exploit all known fossil fuel resources, the temperature rise will be considerably higher.”

The WMO’s report comes just days before world leaders meet for a crucial climate change conference in Katowice, Poland, known as COP24.

In a strongly-worded statement, the WMO’s Deputy Secretary General, Elena Manaenkova, sought to highlight just how important the issue of a warming planet was.

“Every fraction of a degree of warming makes a difference to human health and access to food and fresh water, to the extinction of animals and plants, to the survival of coral reefs and marine life,” she said.

“It makes a difference to economic productivity, food security, and to the resilience of our infrastructure and cities,” she added. “It makes a difference to the speed of glacier melt and water supplies, and the future of low-lying islands and coastal communities. Every extra bit matters.”


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: anmar frangoul, eric lafforgue art in all of us, corbis news, getty images
Keywords: news, cnbc, companies, agency, record, change, wmos, difference, temperature, hottest, climate, makes, statement, wmo, global


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