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 Vol. 2, No. 1: January 18, 2007
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Turn a Profit From Global-Warming Stocks
"You should own global-warming stocks. Even if you think that global warming is based on bad statistics and unconvincing computer models. Or that it's a plot by the tree huggers and the United Nations to institute some kind of world government," advises The Street.com. Whether or not investors believe in climate change (though – let’s be clear – we think they should), many think incentives are aligned to make businesses focused on combating climate change a good bet.
ExxonMobil Still Spending on Climate Change Denial, But May be Warming to Action
A new report detailing the "doubt is our product" tactics of ExxonMobil in its response to climate change reveals the group has spent $16 million on its efforts, including $1.6 million to the American Enterprise Institute and $300,000 to Africa Fighting Malaria. Of course, both organizations make no bones about their missions: AEI is dedicated to preserving the American way of capitalism while AFM urges action on malaria and other diseases before climate change and perhaps ExxonMobil supports these missions rather than any climate obfuscations. As a spokesman for the company noted: it does believe that the burning of fossil fuels is a major source of greenhouse gas emissions. But what is more disturbing is the steady flow of money to fringe groups, such as the Committee for a Constructive Tomorrow, that fund discredited climate change skeptics, such as Sallie Baliunas. Of course, ExxonMobil is not alone; the chief economist of automaker DaimlerChrysler recently derided Europeans’ obsession with climate change as "quasi-hysterical." Even so, the oil company, at least, is willing to admit it has "a bit" of a PR problem around the issue and that "the risk is serious and action should be taken." This recognition may have helped fuel an interesting plot twist on January 11, when The Wall Street Journal and CNNMoney.com reported the company was possibly warming to the idea of climate change at last.
– Read the CNNMoney.com article
AES, GE Enter the Voluntary Carbon Market on the Sell-Side
The AES Corporation (NYSE: AES) and GE Energy Financial Services, a unit of General Electric (NYSE: GE), announced a new partnership to develop greenhouse gas emission reduction projects in the United States. The partnership would seek to create an annual production volume of 10 million tonnes (metric tons) of greenhouse gas offsets by 2010, and will sell the offsets to commercial and industrial customers "seeking to reduce the environmental impact of their operations or to provide climate-friendly products or services to their customers."
2007 Set to Be Hot, 2006 Was Very Warm
Great Britain's Meteorological Office expects 2007 to be the hottest year on record, thanks to a combination of El Nino in the Pacific and the continued trapping of the sun's warmth by greenhouse gases in the atmosphere. The Met Office puts the odds of 2007 beating out 1998 for top honors at 60 percent but, given the track record of the local weatherfolk, you might not want to bet on it. This is particularly bad news for Australians since it seems their island continent is warming faster than the rest of the world, according to their own national Bureau of Meteorology. As for 2006, it was the hottest year since records began in the continental U.S. NOAA's report on that finding marks the first time the agency has publicly acknowledged the likely role of climate change in rising temperatures. Fortunately, the new Democrat controlled Congress plans to introduce (and reintroduce) legislation that would create a national program to tackle greenhouse gas pollution. And the Energy Information Administration released its analysis of the Bingaman bill on Jan. 11 and found it would not harm
the U.S. economy.
– Read the EIA Report (pdf)
Carbon Offsets Help Indian Farmers
Western money has helped transform the lives of poor farmers in the north of India, primarily by supplying them with much needed, simple technology. The money arrives in the form of carbon offsets--a concept familiar to the readers of V-Carbon--courtesy of Climate Care, on organization dedicated to reducing the impact of airplane travel. But the question of the quality of offsets continues to plague the voluntary industry. Based on this recognition, the Tufts Climate Initiative has just finished a study and a website on voluntary carbon offsets to offset air travel emissions.
– Read the Independent article
Dell Backs Tree-Planting, Salesforce.com and Fortis Go Carbon Neutral
Michael Dell of the eponymous computer-maker launched a program to offer consumers the opportunity to plant trees to offset the electricity consumption from the use of their product. In partnership with the Conservation Fund and Carbonfund.org, the company's "Plant a Tree for Me" will tack on $2 for a notebook computer and $6 for a desktop. Meanwhile, yet another international bank has followed in the footsteps of HSBC as Fortis declared its plans to go carbon neutral from this year forward. The bank will both reduce its energy consumption, switch to electricity sourced from renewable resources and purchase offset credits. And last but not least, Salesforce.com (NYSE:CRM), a market leader in on-demand business services, announced an initiative to create a carbon neutral salesforce.com in 2007.
– Read the New York Times story
Offsetting on Utility Bills Comes to California, And Low Carbon Fuels Will Follow
Pacific Gas & Electric will soon start offering electricity consumers the chance to offset the attendant greenhouse gas emissions, having secured approval from the state regulatory body that oversees them. ClimateSmart will help fund forest restoration and conservation projects in the state itself and customers, once enrolled, will pay an offset charge linked to their natural gas and electricity usage. PG&E itself will be the first such customer, committing $1 million to offset the company's operations and make the utility carbon neutral. At the same time, Governor Schwarzenegger announced plans to reduce the "carbon content" of transportation fuels by 10 percent by 2020 as part of an overall program to tackle climate change pollution.
– Read the Green Power Network article
Climate Change on Global Warming for Political Leaders
Throughout the developed world, political leaders who have been recalcitrant in efforts to deal with global warming have signaled a thaw in their stance. President Bush said as much after meeting with German Chancellor Merkel. Canadian Prime Minister Harper shuffled his cabinet and swallowed his pride, admitting climate change was a concern for Canada and Canadians. And Great Britain further strengthened its efforts to combat the global threat. Hoping to capitalize on this warming trend, the U.N. is pushing for a world summit on climate change.
– Read the AP article
Turn in Your Old Cellphone for a Carbon Offset
E-waste is a big problem, as is climate change. Combat both by turning in your old cellphone to RIPMobile in exchange for a Terrapass carbon offset. It's better for everyone than if you let it languish in a dump (or the bottom of your desk drawer) after splurging on the new Apple iPhone.
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