Green, ethical, energy issues in the news

Coastalwatch

How magnanimous of them! Makes one wonder where finance for the proposed Whitehaven global warming accelerator coal mine might be coming from?

HSBC plans to phase out coal financing by 2040

HSBC has said it plans to ramp up its climate change policies and stop financing coal projects by 2040, as long as shareholders back the move.

It follows pressure from a coalition of investment firms and pension funds who called for stronger action from the bank on climate change.

Charity Shareaction, which led the group, said HSBC had put $15bn (£11bn) into coal developers since 2018.

HSBC said it welcomed the group's decision to back its new plan.

The bank already has a "net zero" strategy, under which it aims to ensure all its investments are carbon neutral by 2050.

https://www.bbc.co.uk/news/business-56352203

Martyn1981

Coastalwatch said:

How magnanimous of them! Makes one wonder where finance for the proposed Whitehaven global warming accelerator coal mine might be coming from?

HSBC plans to phase out coal financing by 2040

HSBC has said it plans to ramp up its climate change policies and stop financing coal projects by 2040, as long as shareholders back the move.

It follows pressure from a coalition of investment firms and pension funds who called for stronger action from the bank on climate change.

Charity Shareaction, which led the group, said HSBC had put $15bn (£11bn) into coal developers since 2018.

HSBC said it welcomed the group's decision to back its new plan.

The bank already has a "net zero" strategy, under which it aims to ensure all its investments are carbon neutral by 2050.

https://www.bbc.co.uk/news/business-56352203

I felt the same reading this article that I simply couldn't be bothered to post at the time:

Major UK pension funds worth nearly £900bn commit to net zero

Major pension funds that own assets worth £870bn, including those of the Church of England, Lloyds Banking Group and the National Grid, have committed to cutting the carbon emissions of their portfolios to net zero by 2050 or earlier, in another sign of big investors’ increasing focus on the climate crisis.

It seems like a meaningless, empty announcement, since they are simply saying 'they won't support companies not acting towards 2050' ..... why would they?
The FF industry is in for a world of hurt now over the next decade (let alone the following two) so it's a bad long term investment before even considering green and ethical. If these funds want to be G&E then they should be withdrawing steadily now, not promising tacit support for 30yrs.

Martyn1981

OK, to be honest I read the title and started the article with the mindset of 'here we go again' another VAWT (vertical axis wind turbine) that won't live up to the hype, and that may be the case, but I have to admit to growing interest especially as it goes on to talk of VAWT's fitted to lamp posts, so the mounting and leccy export issues are sort of handled which would reduce costs and effectively boost the economics.
No idea if this is viable or not, but caught my interest when I expected the exact opposite!

O2 Arena to install mini wind turbines that can harness even a breeze

Alpha 311 turbines were originally designed to be larger, at just nearly 2 metes in length, and installed on infrastructure with a connection to the electricity grid, such as streetlights, to help to reduce costs.

Installing the turbines on streetlights along motorways, for example, could generate eight times as much clean electricity as they are expected to produce at the O2 Arena. Motorways also offer the advantage of minimal installation time and no negative impact on the environment or local views, which can be a concern for traditional windfarms in some areas.

Barry Thompson, the chief executive of Alpha 311, said the company was already in talks with international buyers. He said: “The Alpha 311 turbine was born in Britain with international aspirations, so it’s fitting that we’re working with the world’s most popular music, entertainment and leisure venue.”

Coastalwatch

One small step for mankind!

Cumbria coal mine: 'Increased controversy' prompts public inquiry

The government is to hold a public inquiry to examine whether a controversial new coal mine should be allowed to go ahead in Cumbria.

Ministers had been warned the proposal is damaging the UK's reputation in the run up to a major UN climate summit.

Local leaders have now been told Communities Secretary Robert Jenrick will intervene because "controversy about the application has increased".

https://www.bbc.co.uk/news/uk-politics-56364306

EVandPV

Coastalwatch said:

One small step for mankind!

Cumbria coal mine: 'Increased controversy' prompts public inquiry

The government is to hold a public inquiry to examine whether a controversial new coal mine should be allowed to go ahead in Cumbria.

Ministers had been warned the proposal is damaging the UK's reputation in the run up to a major UN climate summit.

Local leaders have now been told Communities Secretary Robert Jenrick will intervene because "controversy about the application has increased".

https://www.bbc.co.uk/news/uk-politics-56364306

They shouldn't even need to waste money on a public enquiry, it's a rediculous proposal in the first place ! 

Solarchaser

EVandPV said:

Coastalwatch said:

One small step for mankind!

Cumbria coal mine: 'Increased controversy' prompts public inquiry

The government is to hold a public inquiry to examine whether a controversial new coal mine should be allowed to go ahead in Cumbria.

Ministers had been warned the proposal is damaging the UK's reputation in the run up to a major UN climate summit.

Local leaders have now been told Communities Secretary Robert Jenrick will intervene because "controversy about the application has increased".

https://www.bbc.co.uk/news/uk-politics-56364306

They shouldn't even need to waste money on a public enquiry, it's a rediculous proposal in the first place ! 

Agreed entirely,  but its the local councillors who are trying to push it through and were complaining of government over reach in council matters.
But I'm sure if jenrick gets a backhander it will all just go ahead anyway.... and no-one will even be surprised anymore 🙄

Coastalwatch

Solarchaser said:

They shouldn't even need to waste money on a public enquiry, it's a rediculous proposal in the first place ! 

Agreed entirely,  but its the local councillors who are trying to push it through and were complaining of government over reach in council matters.
But I'm sure if jenrick gets a backhander it will all just go ahead anyway.... and no-one will even be surprised anymore 🙄

Hmmm. Have to confess to wondering if it is just a delaying tactic until COP26 is past then make the decision to go ahead anyway. Obviously I watched too much Yes Minister in the past.

But a delay can at least be viewed as positive for now.

Martyn1981

Just watched a positive piece on wind energy in the US. It almost came over as a little biased, but here's the kicker, it's from CNBC. Packs in a lot.

Also reminded me that I hadn't posted a vid about wave energy I watched a few days back, from Bloomberg. And following the theme (of 'what I've mostly been watching'), another good vid from 'just have a think' about a promising type of small hydropower for low head generation.

The Rise Of Wind Power In The U.S.

Wave Power Could Be Energy's Next Big Leap

Micro Hydropower : Turbulent Turbines

NigeWick

Martyn1981 said:

Micro Hydropower : Turbulent Turbines

I watched The Hydropower Turbines video the other day. What a brilliant idea.

michaels

Coastalwatch said:

Solarchaser said:

They shouldn't even need to waste money on a public enquiry, it's a rediculous proposal in the first place ! 

Agreed entirely,  but its the local councillors who are trying to push it through and were complaining of government over reach in council matters.
But I'm sure if jenrick gets a backhander it will all just go ahead anyway.... and no-one will even be surprised anymore 🙄

Hmmm. Have to confess to wondering if it is just a delaying tactic until COP26 is past then make the decision to go ahead anyway. Obviously I watched too much Yes Minister in the past.

But a delay can at least be viewed as positive for now.

Presumably the coal will be mined and the steel produced whether this scheme goes ahead or not, just whether it is done under stricter UK environmental rules or laxer ones in developing countries - still we can import the finished products and kid ourselves that our carbon footprint is falling whilst working in coffee shops rather than industry.