Monday, February 17, 2020

How learning about fish can help us save the Amazon rainforest
by Field Museum
Lesley de Souza bringing in an Arapaima she and her team collected with a gill net in the Rupununi. Credit: Lesley de Souza, Field Museum.

Think of the Amazon, and you probably think of jaguars, monkeys, or parrots. But many of the rainforest's secrets can be found hidden in its watery depths, from the fish swimming around its rivers and lakes And because these animals live in a river network that spans the South American continent, studying them helps conservationists understand why connected ecosystems are healthy ecosystems. Scientists from the Field Museum investigated fish populations in the South American country of Guyana, which helped to show why aquatic corridors matter in conservation.Their study, which they published in Frontiers in Forests and Global Change, makes an important case that protecting one tiny corner of the Guiana Shield can help protect rivers and biodiversity across the Amazon.

"I want to make a case for why this area should be protected, and I can tell that story using fish," says Dr. Lesley de Souza, conservation ecologist at the Field Museum. "We found over 450 species of fish in an area smaller than Connecticut. The entire Mississippi River basin has fewer than 200 species. We're talking about a pretty small area that has a ton of diversity."

In this study, de Souza focused on the lakes, rivers, and streams in the Rupununi region of central Guyana in northeastern South America. The area is inspiration for Pixar's balloon adventure, Up. For this study, De Souza traversed the same rocky outcroppings, breathtaking waterfalls, and lush jungles as the movie's characters, looking for fish. "We made several expeditions to the region and collected fish in a variety of habitats to better understand where they live, and further assess the habitats' conservation value, de Souza says. "We were taking fish out of rocks and caves, fish that live in woody debris in the water, sticking our hands in holes and hollow logs and finding fish. Anywhere there might be a fish, we checked."
A sample of the colorful variety of fishes in the Rupununi
 from cichlids to catfishes Credit: Lesley de Souza, Field Museum.

What de Souza's team found was a wild variety of underwater life. They collected fish that looked like little silver knives. They pulled up their nets and found fish camouflaged as dead leaves. They found Arapaima, a ten-foot-long fish that gulps air at the water's surface in addition to breathing underwater with gills. Her team brought their specimens back to natural history museums (including the Field Museum) and completed the arduous task of identifying each one. The scientists then analyzed the fishes' habitats, and realized that the incredible diversity emerged from the unique environments of the Rupununi Portal.

De Souza calls this region a "portal" because when river levels rise in the rainy season, two river systems that remain separate during the rest of the year are connected by floodwaters, and fish can travel from the Guiana Shield to the heart of the Amazon. As the water recedes, the savannas and wetlands reemerge and the fish separate into their respective river systems again—until the next rainy season.

Conservation programs often overlook freshwater environments, focusing on land habitats instead. If you visited the dry Rupununi savannas outside of rainy season, you'd likely make the same mistake. De Souza's analysis helps show how conservation requires healthy watersheds, too—especially connected ones. "As the water goes up and down," de Souza explains, "the Rupununi acts like a heartbeat that pumps this incredible fish diversity throughout the country. If we don't protect it, that heartbeat stops." Better information about the fish species living in the area can provide evidence for why it needs to be protected.
Lesley de Souza with her team seining for fishes in the 
Rupununi savannas during the dry season. Credit: Lesley de Souza, Field Museum.

And by protecting the lakes and rivers where the fish live, we can help the planet overall. The forests growing around these bodies of water are crucial in absorbing the carbon emissions that have created climate change. Conserving the Rupununi portal will yield long-term benefits for the entire planet.

Conserving the Rupununi portal will yield long-term benefits for the entire Amazon, but de Souza emphasizes the immediate local need for protection. "I focus on fish in this area because they're so important for the people," de Souza says. "Indigenous communities are the primary inhabitants of this region, and they are intimately connected to the forest, the savanna, and the wetlands. Their primary source of protein is fish. In order to maintain fish reproductive cycles and people's livelihoods, the entire system needs to stay intact."

Through this research, de Souza's team discovered a previously unknown portal farther south of the Rupununi portal. De Souza is excited to see what else researchers might discover there: "I have always been intrigued by the mystery of what is below the surface. Fish communities are an indicator of forest health, and they can tell us things we just can't learn on land."Six new species of hideously adorable tentacle-nosed catfish discovered in Amazon

Researchers create new tools to monitor water quality, measure water insecurity


Credit: CC0 Public Domain
A wife-husband team will present both high-tech and low-tech solutions for improving water security at this year's American Association for the Advancement of Science (AAAS) annual meeting in Seattle on Sunday, Feb. 16. Northwestern University's Sera Young and Julius Lucks come from different ends of the science spectrum but meet in the middle to provide critical new information to approach this global issue.
Lucks, associate professor of chemical and  in Northwestern's McCormick School of Engineering and an internationally recognized leader in , is developing a new technology platform to allow individuals across the globe to monitor the quality of their water cheaply, quickly and easily. Lucks will discuss how advances made at Northwestern's Center for Synthetic Biology are making these discoveries possible in his presentation "Rapid and Low-cost Technologies for Monitoring Water Quality in the Field."
In "A Simple Indicator of Global Household Water Experiences," Young, associate professor of anthropology in Northwestern's Weinberg College of Arts and Sciences, will discuss the Household Water Insecurity Experiences Scale (HWISE.org), the first globally equivalent scale to measure experiences of household-level water access and use. Young led a large consortium of scholars in the development of the HWISE Scale, which permits comparisons across settings to quantify the social, political, health and economic consequences of household water insecurity. The HWISE Scale is already being used by scientists and governmental- and non-governmental organizations around the world, including the Gallup World Poll.
Both presentations will be presented with representatives from the World Bank and UNESCO as part of the session "Managing Water: New Tools for Sustainable Development" to be held from 3:30 to 5 p.m. on Sunday, Feb. 16, at the Washington State Convention Center.
Prior to the 3:30 p.m. panel on Sunday, Young and Lucks will participate in an Expo Stage Debrief: "Managing Water: New Tools for Sustainable Development?" which will be held at 11:30 a.m. in the Expo Hall at the convention center.
New tool provides critical information for addressing the global water crisis

Blame game over 830-mn-euro settlement in VW's German diesel cases

by Yann Schreiber
 
 
Some 400,000 German buyers of VW diesels are pursuing the carmaker in a group lawsuit

Consumer representatives and car giant Volkswagen each blamed the other Friday for a breakdown in talks over a settlement for 400,000 German customers in the firm's "dieselgate" emissions cheating scandal.

VW took the first shot, saying it had offered 830 million euros ($900 million) to consumer organisation VZBV but that "disproportionate" fee demands from its lawyers had torpedoed the deal.

In a statement, the sprawling 12-brand group later said it would "offer customers registered as part of the mass lawsuit... the negotiated settlement without support from the VZBV".

For his part, VZBV director Klaus Mueller told reporters in Berlin that the talks "failed because of VW's lack of openness to enable a transparent, trustworthy and secure system" to actually pay out the cash.

"We cannot in any way support a settlement that isn't trustworthy or that has impossible to predict consequences for consumers," he added.

The mass lawsuit is one of the biggest legal hangovers from VW's 2015 admission to fitting 11 million vehicles worldwide with software to make the engines appear less polluting in regulatory tests than in real driving conditions.

While American diesel buyers have enjoyed generous buy-back and compensation schemes, German drivers have so far gone uncompensated for the impact of the scandal, which has since spread to other carmakers.

Some 400,000 owners had rallied behind the VZBV in the first-of-its-kind grouped proceeding, which opened last September.

Around 70,000 individuals also have open claims against VW, while 55,000 cases have been settled or decided in court.

"We will continue the court case with all our strength," Mueller said, adding that "it's baffling to me that VW broke off talks in this way today."

30 billion euros

Volkswagen said in an online announcement it was ready to pay out between 1,350 and 6,257 euros per vehicle, depending on model and age, so long as it had been purchased before Jan 1, 2016, with the buyer a German resident and still in possession of the car.

So far the fallout from diesel cheating has cost VW more than 30 billion euros worldwide in legal costs, fines and compensation, most of it in the US.

A response from the authorities was slower to come and less painful in Germany, with VW and subsidiaries Audi and Porsche paying a total of 2.3 billion euros in fines in the group's home country.

Meanwhile the company's efforts to polish up its image have prompted bosses to pivot sharply towards offering far more electric vehicles in the coming years than previously planned.

VW's shares fell Friday, but losses were limited because investors thought any final settlement with German drivers would only be a tiny fraction of the total costs of dieselgate so far.

The stock closed at 170.46 euros on the Frankfurt stock exchange Friday, down 1.2 percent, clearly underperforming the DAX blue chip index.

As well as the car owners, investors have also launched mass lawsuits relating to "dieselgate".

They demand compensation for VW shares' loss in value immediately after the scandal broke.
US peach farmer wins $265 mln damages over Bayer, BASF herbicide

Farmer Bill Bader claimed the companies encouraged farmers to use the dicamba weedkiller irresponsibly

A US jury has awarded $265 million to a Missouri farmer who blamed herbicide from chemical giants Bayer AG and German rival BASF for destroying his peach orchards, in a case set to bolster 140 other lawsuits.

Jurors in federal court in Cape Girardeau, Missouri, made the ruling on Saturday after peach farmer Bill Bader claimed the companies encouraged farmers to use the dicamba weedkiller irresponsibly.

Bloomberg News reported that the case was the first US trial over dicamba herbicide, which is alleged to have wrecked crops across America's Midwest by drifting onto plants that were unable to resist it.

Much like Roundup, another much-criticised herbicide marketed by Monsanto, dicamba has been on the market many years.

Use of the chemical jumped after Monsanto—which was bought by Germany's Bayer in 2018—introduced seeds that can resist the weed-killer.

But the product has been blamed for polluting around four percent of US soybean fields in 2017. A common complaint is that the herbicide spreads to nearby areas.

The fight over dicamba comes in the wake of a case in which Bayer was ordered by a California jury to pay $290 million for failing to warn a dying groundskeeper that Roundup might cause cancer.

In January, reports suggested Bayer could stump up $10 billion in a settlement with tens of thousands of US plaintiffs suffering from non-Hodgkin's lymphoma.
Dicamba herbicide is alleged to have wrecked crops across America's Midwest by drifting onto plants that were unable to resist it

The cancer sufferers say they developed the disease after exposure to glyphosate, the key ingredient in Roundup.

Bayer, which has maintained that dicamba is safe for crops as long as farmers follow instructions, said in a statement it would "swiftly appeal the decision".

Meanwhile BASF said it was "surprised" by the ruling and would "use all available legal resources


U.S. peach grower awarded $265 million from Bayer, BASF in weedkiller lawsuit

February 16, 2020



FILE PHOTO: Logo of Bayer AG at a plant of the German 


pharmaceutical and chemical maker in WuppertalMore

(Reuters) - A Missouri jury's $265 million award to peach grower Bill Bader in his lawsuit against herbicide providers Bayer and BASF has raised the stakes for the two companies as at least 140 similar cases head to U.S. courts later this year.

A jury in U.S. District Court in Cape Girardeau, Missouri, handed Bader, the state's largest peach farmer, $15 million in actual and $250 million in punitive damages. He sued the companies saying his 1,000-acre orchard was irreparably harmed by herbicide that they produce, which drifted onto its trees from nearby farms.

The three-week trial was the first case in the United States to rule on the use of dicamba-based herbicides alleged to have damaged tens of thousands of acres of U.S. cropland. The herbicide can become a vapor and drift for miles when used in certain weather, farmers have claimed.


Bayer said it was "disappointed with the jury’s verdict," and plans to appeal. BASF also said it was “surprised and disappointed” by the decision and plans to appeal. Both companies said their dicamba-based herbicides are safe when used as directed.

Bayer faces separate multi-billion-dollar litigation over the Roundup weedkiller made by Monsanto, the U.S. firm it took over for $63 billion in 2018. Monsanto made Roundup and dicamba, and Bayer is being sued over both products.

"We believe the evidence presented at trial demonstrated that Monsanto’s products were not responsible for the losses," Bayer said.

Bayer and BASF face other dicamba lawsuits that could begin late his year before the same judge in Missouri, said attorney Billy Randles, whose firm represented Bader and also represents dozens of others with similar claims.

"These are all the same" allegations, said Randles. "They claim negligent design, failure to warn and all allege a joint venture" between Bayer and BASF. The jury found the two equally liable for the damages.

Bader Farms, in southern Missouri near the Arkansas border, said it lost many trees when the herbicide containing dicamba was used on nearby soybean and cotton farms and drifted onto its property.

The farm said repeated dicamba exposure beginning in 2015 killed or weakened the fruit trees.

The U.S. Environmental Protection Agency imposed restrictions on the use of dicamba in November 2018 over concerns about potential damage to nearby crops.

"As long as dicamba is around, it’s not viable," Randles said of the orchard.

Google mulls licensing deals with news media: industry sources

Google is said to be considering licensing deals with news media groups, which would be a shift in strategy for the internet giant

Google is in discussions on deals to pay media organizations for content, a move aimed at blunting criticism that it unfairly profits from copyrighted news, according to people familiar with the talks.
Negotiations between the  and  were said to be in the early stages, with most of the publishers located in France and other parts of Europe.
Paying for news would diverge from the Alphabet-owned internet titan's practice of freely mining the internet for material it displays in .
A licensing deal would likely be welcomed by  that contend Google derives profits from ads alongside their , including "snippets" in search results.
Contacted by AFP Friday, Google indicated it is seeking new ways to help publishers.
"We want to help people find quality journalism—it's important to informed democracy and helps support a sustainable news industry," Google vice president of news Richard Gingras said in a statement.
"We care deeply about this and are talking with partners and looking at more ways to expand our ongoing work with publishers, building on programs like our Google News Initiative."
The Wall Street Journal reported earlier Friday Google was considering deals for a "premium" news product.
The California tech giant has remained steadfast about not paying for news article links displayed in search results and is not changing that position, people familiar with the matter told AFP.
It has argued that it drives traffic to news websites and thereby helps those publishers get ad revenues.
Google's News Initiative works with publishers to encourage readership and paid subscriptions to their offerings.
Facebook, which has been hit with similar criticism, last year launched a dedicated "news tab" with professionally-produced content—a move by the social network to promote journalism and shed its reputation as a platform for misinformation.
Facebook was expected to pay some of the  organizations, reportedly millions of dollars in some cases.
The move by Google comes amid pressure to comply with a European copyright directive on content in search results.
Google said last year it would not pay European media outlets for using their articles, pictures and videos in its searches in France, the first country to ratify the copyright directive, raising the prospect of legal action against the internet titan.
The tech giant said it would only display content in its search engine results and on Google News from media groups who had given their permission for it to be used for free.

UAE issues reactor licence for first Arab nuclear power plant



 The Arab world's first nuclear power plant is being built
 by a South Korean-led consortium in a deal worth over $20 billion
The United Arab Emirates said Monday it has issued a licence for a reactor at its Barakah nuclear power plant, the first in the Arab world, hailing a "historic moment".
The national nuclear regulator "has approved the issuance" of the operating licence for the first of four reactors at the plant, said Hamad al-Kaabi, the UAE representative to the International Atomic Energy Agency.
"This is a historic moment for the UAE, making it the first Arab country in the region to operate a ," Kaabi told a press conference.
"This milestone was achieved due to the UAE's vision and its leadership to build a peaceful nuclear energy programme to cater for the future needs of energy in the country."
The Barakah plant, located on the Gulf coast west of the UAE's capital, had been due to come online in late 2017 but faced a number of delays that officials attributed to safety and regulatory requirements.
Abu Dhabi authorities said in January that the plant would start operating within a few months.
"The full operation of Barakah plant in the near future will contribute to the UAE's efforts for development and sustainability," Kaabi said Monday, without giving a new date.
The plant is being built by a consortium led by the Korea Electric Power Corporation in a deal worth over $20 billion.
When fully operational, the four reactors have the capacity to generate 5,600 megawatts of electricity, around 25 percent of the nation's needs. The remaining three reactors are almost ready for operation.
The UAE has substantial energy reserves, but nuclear and renewables are targeted to contribute around 27 percent of its electricity needs by 2021.Qatar signs $470 mn solar deal


Arab World’s First Nuclear Reactor Cleared for Startup

(Bloomberg) -- The United Arab Emirates took a final step toward switching on the Arab world’s first commercial nuclear power plant, even as the country prospers by producing and selling fossil fuels. 

 
© Arun Girija/WAM via AP, File FILE - This undated photograph released by the United Arab Emirates' state-run WAM news agency, shows the under-construction Barakah nuclear power plant in Abu Dhabi's Western desert. South Korean President Moon Jae-in's visit to the United Arab Emirates this week shows the Asian nation's deepening cooperation with the Gulf country, from buying its oil, building the Arabian Peninsula's first nuclear power plant and potentially backing it in war. (Arun Girija/WAM via AP, File)

The U.A.E.’s regulatory watchdog gave long-awaited approval on Monday to the operator of the Barakah reactor, nudging the U.A.E. to the brink of membership in an elite club of 30 countries that make power from smashing atoms.


Built and run by a joint venture with Korea Electric Power Corp., the plant can now start loading fuel and ramp up to full commercial operation within several months. Other Arab countries, notably Saudi Arabia and Egypt, are also pushing into nuclear power in spite of questions about cost and safety.

“Barakah was meant to be the showcase for the international nuclear industry,” said Mycle Schneider, an independent analyst. “Grid connection is at least three years late, and there is no doubt that it is way over budget.”

Barakah is the first of four civilian reactors that the government plans to fire up by 2023. The plants, located on a sparsely populated strip of desert on the Persian Gulf coast, are estimated to cost $25 billion. The U.A.E. expects them to produce as much as 5.6 gigawatts once they’re fully commissioned, or almost a fifth of the country’s current installed generating capacity.
Earlier Efforts

Arab nations have tried, and failed, in years past to build nuclear capabilities. Iraq under Saddam Hussein had a well-developed program until Israel, an unacknowledged nuclear state, stifled his ambitions by destroying the Osiris research reactor in an air raid in 1981. Non-Arab Iran has operated the Bushehr facility since 2011, but Tehran faces crippling U.S. sanctions over its atomic program.

Barakah marks a new milestone for the region. The U.A.E., third-largest producer in the Organization of Petroleum Exporting Countries, is trying to diversify its domestic energy supply and lessen its dependence on oil. Dubai, the country’s business hub, targets meeting 75% of its needs from solar energy and other renewables by 2050.

U.S. Says Saudis Must Forgo Enrichment for Nuclear Sharing Deal

Schneider questions the regional nuclear push. “Nuclear power is now clearly the most expensive form of electricity generation,” the analyst said. While the cost of solar photo-voltaic power on a utility scale has plunged 90% over the past decade, nuclear power costs have risen by 26%, Schneider said.

And while advocates of nuclear energy argue that the technology is becoming safer, opponents point to catastrophic incidents, including the meltdowns of three reactors at the Fukushima plant in northern Japan in 2011.

Nawah Energy Co. -- the venture between Kepco and state-run Emirates Nuclear Corp. that will operate all four of the U.A.E.’s plants -- waited almost two years after the first one was completed before getting the green light from regulators to load it with fuel.

Nawah Energy “can fulfill all the safety requirements of the U.A.E.,” Christer Viktorsson, head of the Federal Authority for Nuclear Regulation, said Monday at a news conference in Abu Dhabi.
Training Staff

The U.A.E.’s deep pockets enabled it to build Barakah quickly, said Mark Hibbs, nonresident senior fellow at the Carnegie Endowment for International Peace’s Nuclear Policy Program.

“The U.A.E. has to build up a domestic pool of experts in many areas to keep these plants running smoothly and efficiently,” Hibbs said. “That won’t be trivial because when this project got underway virtually all of the expertise was imported from outside.”

A government-sponsored training program has produced 380 Emirati nuclear experts, and 60% of ENEC’s staff are U.A.E. citizens, according to the company.

As of 2017, the U.A.E. had about 30.4 gigawatts in installed power-generating capacity. The vast bulk of it involves the burning of natural gas, making the country’s nuclear program a key component in the plan to diversify its energy supply and lessen its reliance on hydrocarbons.

(Adds subheads and tout line)
ATOMIC POWER NO THANKS 

German court halts site preparation for Tesla factor
 
In this Feb. 2, 2020 file photograph, the company logo sits on an unsold 2020 Model X at a Tesla dealership in Littleton, Colo. Shares of Tesla Inc. fell 4% in early trading Thursday, Feb. 13, after the electric vehicle and solar panel maker said it would sell more than $2 billion worth of additional shares. The move comes just two weeks after CEO Elon Musk said the company had enough cash to fund its capital programs and it didn't need to raise any more money. (AP Photo/David Zalubowski, File)

A German court has temporarily halted the site preparation for Tesla Inc.'s first electric car factory in Europe.

The Higher Administrative Court for Berlin-Brandenburg ordered Tesla to stop clearing trees on the wooded site near Berlin until it considers an environmental group's appeal. In a statement Sunday, the court said it had to issue the injunction because otherwise Tesla might have completed the work over the next three days.

A lower court in Germany ruled last week that Tesla could clear the trees for its factory. But the environmental group Green League Brandenburg appealed, citing the potential for the factory to pollute the area's drinking water and other issues. In its statement, the higher court said there is no reason to assume that the Green League's appeal won't succeed.

German officials celebrated in November when Palo Alto, California-based Tesla decided to build its first European factory in the country. Tesla said the new plant will build batteries and vehicles, starting with the upcoming Model Y SUV. The company had hoped to complete the factory in the middle of next year.

Last month, German officials said 187 pounds of World War II ammunition had been found at the site as Tesla began clearing it.

Tesla has two other vehicle factories in the U.S. and China.

Explore further Way clear for Tesla to buy Berlin factory site

© 2020 The Associated Press. All rights reserved.

Flight of fancy? Aviation industry tries to go green


The Singapore Airshow was powered by solar panels
From an emissions-reducing model jet that looks like something from a sci-fi movie to electric aircraft and sustainable fuel, the aviation industry is ramping up efforts to go green as consumer pressure grows.
In an era when teen climate activist Greta Thunberg opts to travel on an eco-friendly boat and "flight-shaming" is all the rage in her native Sweden, air travel's reputation has never looked as dire.
Aviation accounts for three percent of climate-damaging carbon emissions globally, according to the European Environment Agency, and the world is experiencing record heatwaves, wildfires and storm surges made worse by rising seas.
"Sustainability" was the buzzword last week in Singapore at Asia's biggest air show—which was powered by solar panels—with manufacturers and airlines trying to outdo one another on vows to become more sustainable.
Some environmentalists however have criticised such pledges as "greenwash", PR stunts that will do little to mitigate the damage caused by the vast quantities of jet  burnt every year.
"Aviation is under significant pressure to improve its sustainability image," Paul Stein, chief technology officer for engine maker Rolls-Royce, told AFP.
Airlines are "working with us to find pathways to increase the availability of sustainable fuels, look at how electrification can impact them... and also looking to more and more efficient engines and airframes".

The aviation industry has been under pressure to do more on sustainability
Cutting emissions
The  has pledged to reduce its net carbon emissions by 50 percent by 2050 compared with 2005 levels, and the British sector went further this month with a vow to achieve net zero emissions by the same date.
At the Singapore Airshow, European plane maker Airbus unveiled a model of a futuristic new jet that blends wings with body and has two rear-mounted engines.
The demonstrator model's sleek design is meant to reduce aerodynamic drag, and the manufacturer says it has the potential to cut fuel consumption by up to 20 percent compared to current single-aisle aircraft.
Dubbed Maveric, the 2.2-metre-long (7.2-foot) model had its first test flight in June last year.
Franco-Italian manufacturer ATR was meanwhile keen to highlight that its turboprop aircraft—popular for short hops, particularly in parts of Asia with poor infrastructure—burns 40 percent less fuel compared with a jet of the same size.
European plane maker Airbus has unveiled a model of a futuristic jet dubbed Maveric (right) which it says has the potential to cut fuel consumption by up to 20 percent compared to current single-aisle aircraft
"It is a trade-off between  and speed," ATR chief executive Stefano Bortoli told AFP.
"You can gain five, 10 minutes with a faster jet but in terms of pollution, it is more damaging."
Slow-moving solutions
There have also been steps towards producing electric planes. The world's first fully —designed by engineering firm magniX—made its inaugural test flight in December in Canada.
Swiss company Smartflyer is developing a hybrid-electric aircraft for four people and is aiming for a maiden flight in 2022. As well as reducing emissions, the aircraft is less noisy and cheaper to operate due in part to lower .
But Aldo Montanari, the company's head of avionics and user interface, cautioned such projects would not be quick.
"The pressure is quite big... and I think the industry has understood but they need time to react, they cannot do it in one year," he said. "It has to be safe."
The world's first fully electric aircraft—designed by engineering firm magniX—made its inaugural test flight in December in Cana
The world's first fully electric aircraft—designed by engineering firm magniX—made its inaugural test flight in Canada
Biofuels are touted as a major route for the aviation industry to cut carbon emissions, and several airlines have in recent years operated commercial flights using them.
But prices remain higher than regular fuel, and they represent just a tiny proportion of jet fuel used globally.
Despite the efforts, environmentalists accuse the aviation industry of moving too slowly as more evidence emerges of the devastating impacts of climate change.
"It will take a long time for airlines to become sustainable," Dewi Zloch, climate and energy campaigner with Greenpeace, told AFP.
"Technological solutions will take decades.
We need a smarter solution: Shaming people for flying won't cut airline emissions

© 2020 AFP

MARX




Extreme weather could bring next recession

extreme weather
Credit: CC0 Public Domain
Physical climate risk from extreme weather events remains unaccounted for in financial markets. Without better knowledge of the risk, the average energy investor can only hope that the next extreme event won't trigger a sudden correction, according to new research from University of California, Davis.
The paper, "Energy Finance Must Account for Extreme Weather Risk," was published Feb. 17 in the journal Nature Energy.
"If the market doesn't do a better job of accounting for climate, we could have a recession—the likes of which we've never seen before," said the article's author, Paul Griffin, an accounting professor at the UC Davis Graduate School of Management.
The central message in his latest research is that there is too much "unpriced risk" in the energy market. "Unpriced risk was the main cause of the Great Recession in 2007-2008," Griffin said. "Right now,  shoulder much of that risk. The market needs to better assess risk, and factor a risk of extreme weather into securities prices," he said.
For example, excessive high temperatures, like those experienced in the United States and Europe last summer, can be deadly. Not only do they disrupt agriculture, harm  and stunt , they also can overwhelm and shut down vast parts of energy delivery, as they did in Northern California when PG&E shut down delivery during fires and weather that could trigger fire. Extreme weather can also threaten other services such as water delivery and transportation, which in turn affects businesses, families and entire cities and regions, sometimes permanently. All of this strains local and broader economies.
"Despite these obvious risks, investors and asset managers have been conspicuously slow to connect physical climate risk to company market valuations," Griffin said in his article.
"Loss of property is what grabs all the headlines, but how are businesses coping? Threats to businesses could disrupt the entire economic system."
Climate-vulnerable locations also factor into risk for energy markets. In the United States, U.S. oil refining is located on the Gulf Coast, an area exposed to sea-level rise and intense storms. Oil refining in Benicia and Richmond, in Northern California, can be exposed to coastal flooding. Energy companies' transmission infrastructure is located in arid areas, increasing risk of damage, such as the destruction from recent wildfires in California. In addition, it is not clear insurance will be available to cover such risks. Add to those risks, Griffin said, "litigation, sanctions and even loss of business from the property destroyed.
"The climate litigation risk already priced into  stocks (after, for example, a protracted ExxonMobil court case in the 1990s) would prove insufficient."
Extreme weather climate risk, in summary, is hard to predict.
"While proprietary climate risk models my help some firms and organizations better understand future conditions attributable to , extreme weather risk is still highly problematic from a risk estimation standpoint," he concluded in the article.
"This is because with climate change, the patterns of the past are no guide to the future, whether it be one year, five years or 20 years out. Investors may also normalize  impacts over time, discounting their future importance."
Extreme heat impacts firms' stock value, study finds

More information: Energy Finance Must Account for Extreme Weather Risk, Nature Energy (2020). DOI: 10.1038/s41560-020-0548-2