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Climate Red - News and Views on Climate Change Issues.

Climate Red - October 2007

The Cat is out of the Bag....

October 30th 2007 02:02
Well Australia has its first Carbon Fund as Reported in the Investment and Technology Magazine. ...ok not reported very accuarately but its there......they have titled the the fund an "anti-carbon" fund, which is a mis-quote, but they did their best and hey we all know about shooting for the headline don't we!!!!!!

I sometimes wonder why I ever read the press, everytime I have been personally involved in something it is mis-reported, leads me to believe not much in the press is true.
arkx carbon fund
ArkX Logo
ArkX logo
ArkX logo



Anyhow it is a decnet enough article to get an idea for what a New Generation "clean" Fund is going to be all about.

cheers

Louie


CLICK HERE FOR THE STORY OR SEE BELOW

Australian ‘anti-carbon’ hedge fund to enter market

by Simon Mumme
Multi-strategy hedge fund ArkX will enter global renewable energy markets and look to invest in companies producing clean development mechanisms (CDMs) in early December, drawing on founders’ money and an institutional mandate as seed capital.


ArkX founders Geoff Avison and Lisa Wade will begin marketing ArkX as a carbon fund in November, aiming to raise $250 million from wholesale investors ahead of making its first investments on December 3.
Avison said the majority of investments would be made in global renewable energy markets, due to a perception that domestic investors are more familiar with these securities. Allocations would also be placed in CDM projects, which enable Annex I Parties to the Kyoto Protocol, who have committed to slash average emissions, to finance emission-reduction projects in non-Annex I countries. Within the CDM framework, Annex I parties earn certified emission reductions (CERs), helping them meet their emissions targets.
Evison, who said a more accurate definition of the vehicle would be an ‘anti-carbon’ fund, said ArkX’s point of differentiation from previous and current sustainable investment vehicles was its core focus on climate change.
“There’s been sustainable investment, sure, but people will be more interested in climate change,” he said.
There are up to 70 carbon funds operating worldwide, Evison said. Among these are Blackrock’s US$5.5 billion new energy fund, which has returned 24.7 per cent for the year-to-date, and Climate Change Capital’s 200 million euro, clean tech private equity fund.
The 400 million euro Peony Capital fund, founded early this year and backed by the Bill and Melinda Gates Foundation, invests in CDM projects being run in China, aiming to extract returns and manage resultant carbon credits. Evison said ArkX’s initial engagement with the CDM sector would be venture capital investments in projects alongside commitments from Peony.
While there are approximately 20 CDM manufacturers in Australia, about 350 operate worldwide. The global market capitalisation for CDMs nears $5 billion, Evison said. “There’s no shortage of places to put our money.”
Evison and Wade have set up ArkX after careers in finance spanning more than 20 years. Most recently, Evison ran money with Sydney-based equity long/short hedge fund St Helens Capital, and Wade worked in proprietary trading with Citi.
30/10/2007

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Racing Against time....

October 26th 2007 02:48
If this information wasn't from the UN and the result of a collaboration of 390 Scientists I would say it errs on the side of alarmist propaganda. Like all things the beauty is in the eye of the beholder and the Telegraph article below has taken the alarmist stance for sure.....however the facts remain that the more data we get the worse the Climate Change Problem is looking.

The good news is by all accounts it is looking more and more likely that whoever we vote for Australia will be part of the solution this time around.

Here is the Telegraph story and some links to the UN Data and report if you want to decide for yourselves. (ok so I am having trouble inserting links where I am, ill update th elinks on this post ASAP)

cheers

Happy Friday

Louie

Survival of man rest on climate change action
By Graham Tibbetts
Last Updated: 6:01pm BST 25/10/2007



The survival of mankind depends on nations overcoming their lethargy and tackling the problems of climate change, species extinction and feeding a growing population, a panel of the world's leading scientists has said.


Report described climate change as a 'global priority'
Launching a landmark report in London on the state of the planet's environment, the experts warned that economies - including Britain's - would be crippled by the rising cost of dealing with catastrophic natural changes.

One said humans were locked in a race against time to reduce the effects of environment change and described it as "one of the most epic races humanity will ever run".

The stark message was contained in a five-year study by the United Nations Environment Programme. The fourth Global Environment Outlook Report (GEO-4) was prepared by 390 scientists and reviewed by more than 1,000 across the world, making it one of the most comprehensive studies in decades.

It looked at changes to the planet in the 20 years since the Brundtland Commission outlined the detrimental impact humans were having on the world around them.

During that time:

Carbon dioxide concentrations have increased by a third
The amount of fish stocks which have collapsed has doubled to 30 per cent
Freshwater availability has halved in West Asia as more water is used for irrigation
Energy consumption per head in America has increased by 18 per cent.advertisement
Global warming and the exploitation of fish and forests for food meant that a sixth mass species extinction is now underway, threatening to destroy fragile ecosystems, some of which may not be fully understood.

GEO-4 said that "Planet Earth Plc" was living way beyond its means. The amount of resources being consumed per person is now 21.9 hectares per person, while the earth's capacity is only 15.7 hectares per person.

The report described climate change as a "global priority" but found there was a "remarkable lack of urgency" and a "woefully inadequate" global response.

Achim Steiner, UNEP's executive director, said: "There have been enough wake-up calls since Brundtland. I sincerely hope GEO-4 is the final one.

"The systematic destruction of the earth's natural and nature-based resources has reached a point where the economic viability of economies is being challenged - and where the bill we hand on to our children may prove impossible to pay."

Marion Cheatle, deputy director of UNEP's division of early warning and assessment, said: "The report provides incontrovertible evidence of unprecedented environmental change over the last 20 years that unless checked will fundamentally undermine economic development for current and future generations."

Britain should look to countries like Denmark, which has become a world leader in wind energy.

"That has been a huge boost and other contries can replicate that. Britain's economy is influenced by transport - how is it going to get to grips with its huge increase in airline travel while reducing its carbon footprint?" she said.

During the last 20 years global wealth in GDP has increased by a third, yet that wealth is not being used to protect future resources, said Ms Cheatle.

She said it would be far cheaper to take action now than later, but while the general public often shared scientists' concerns they were ignored by governments.

"We have the solutions to so many of these problems. But time and again there is not enough effort and resources or political will to tackle them to the extent we need," said Ms Cheatle.

The GEO-4 report offered some hope, observing that in the last two decades the international community has produced the Kyoto Protocol and cut ozone-layer damaging chemicals by 95 per cent.

But it concludes: "The need couldn't be more urgent and the time couldn't be more opportune... to act now to safeguard our own survival and that of future generations."

Mike Childs, campaigns director of Friends of the Earth, welcomed the report and called for political action to protect wildlife and ecosystems.

He added: " We need governments, businesses and individuals to harness humankind's amazing abilities in innovation to create a fairer and greener world."

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Too little too late.....but

October 25th 2007 00:23
Howard will be overjoyed at this article I just saw online.

Two British Scientists have come out and said Howard and Bush were right not to sign the Kyoto Protocol because it wasn't the right vehicle for the job.....the cynic in me is CONVINCED money changed hands on this one and you have to say the Ship has definitely sailed for the Australian public to buy into this point of view.

The new Kyoto is a completely different Kettle of fish, of course there was going to be flaws in the original Kyoto protocol, it would have been a miracle to find a perfect solution to such a huge problem straight off the bat. If it hasn't 100% achieved its goals it just means we need to try harder, not stop trying all together. I know I am preaching to the converted when i say every bit counts. And imagine how much worse things would be without it, now that's a horrific image in my mind.

anyhow, the article is an interesting read if you want some alternate opinions etc, variety is the spice of life i guess.....


Cheers


Louie

P.S. Given the fact there is a UN PRI roundtable conference in Melbourne as we speak, hosting all the Asian and some Global Members of the United Nations Principles for Responsible Investors signatories, this article is very poorly timed. We are lucky they even consider Australia as a venue for such a conference.




CLICK HERE OR READ BELOW

Australia right to reject Kyoto: British experts

Posted 1 hour 52 minutes ago
Updated 1 hour 49 minutes ago
Greenhouse pollution: UK experts say the Kyoto protocol has failed to deliver results

Greenhouse pollution: UK experts say the Kyoto protocol has failed to deliver results (Getty Images: Ian Waldie)

* Audio: Scientists back refusal to ratify Kyoto (AM)

Two researchers in the UK have backed Australia's decision not to ratify the Kyoto protocol, saying it has failed to deliver cuts to carbon emissions.

The protocol sets binding targets for the reduction of greenhouse gases, but a report published in the journal Nature argues it is the wrong tool for the job.

While more than 170 countries have signed the agreement, Australia and the United States have refused to do so.

Professor Gwyn Prins from the London School of Economic Science co-wrote the report and supports the position the two countries have taken.

"It's nice to have someone to kick and if the someone to kick looks like [US President George W Bush], or in the domestic case of Australia looks like [Prime Minister John Howard], then people who don't like them for other reasons have found Kyoto a useful [issue] with which to bash them over the head," he said.

"But here again the inconvenient truth is they did the right thing."

But Australian climate change researcher Dr Ben McNeill, from the Climate Change Centre at the University Of New South Wales, says Kyoto should not be thrown away, despite its inadequacies.

Dr McNeill says the clean development mechanism and targets are important keys to slowing global warming.

"Emissions targets dictate for example how effective a carbon emissions trading scheme is, in other words, a carbon trading price - and that's a very important part of our strategy in the next decade or so to reduce carbon emissions and combat global warming," he said.

Australian Conservation Foundation spokesman Don Henry says the Kyoto protocol is an important first step in the fight against climate change.

"It is delivering modest reductions in emissions from developed countries who've ratified it and it's putting them on track to reduce emissions much further down the path," he said.

"I think if you look at countries like Australia and the US, conversely our emissions are continuing to spiral upwards."
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I don't often agree verbatim with Climate Change articles out there but this Article from the Age is pretty much all you need to know about Climate Change and Australia and has some great perspectives on the Election.

i have just copied the steps he outlines that Australia needs to take to get back on track but it is worth reading the whole article. It is a one-stop shop of information


[ Click here to read more ]
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I guess it was only a matter of time, in fact I distinctly remember almost mentioning it in my post click here HERE I was thinking a comment would be way too cynical even for me!!!! alas. The Climate Change Swindle doco makers are weighing in on the Inconvenient Truth in Schools debate (I actually secretly thought they financed the court case) and are sending copies of the global Warming Swindle doco to all UK Schools.

I won't repeat what I think of this Doco just check my link here......
[ Click here to read more ]
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Monbiot takes on Golf...... FOUR

October 18th 2007 06:35
As you know I am becoming a fan of George Monbiot a writer from the UK. This recent article where he has got himself in a mess with Gary Player and almost via default Golf the Sport, both amused me and informed me of some rather disturbing Environmental facts about Golf and the fact that it isn't very enviro friendly.

I was quite surprised actually, I think of Golf, all the green open well kempt spaces and automatically think Environment....apparently they cause a fair bit of damage. Read on


[ Click here to read more ]
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Rough ride ahead

October 17th 2007 01:38
I have decided to get my Political Climate Change post out of the way early on in this election campaign and then try to stay out of the fray with maybe the odd comments as a P.S. here and there (here's hoping)

There is no doubt that Climate Change is an election issue, I was just on a Climate Change site where kevin07.com came up in the Google Adwords Ad, so Labor are clearly pulling out all stops to make it an election issue. As much as I am all for Climate Change awareness I can't help but secretly think that I don't want Climate Change to be an election issue, mainly because of the misleading statements that will inevitably be made


[ Click here to read more ]
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Nine Inconvenient Truths

October 12th 2007 01:14
Like all Politicians they are claiming a victory however there is no denying there were a few low blows dealt to the credibility of an Inconvenient Truth via a UK Judges recent decision to allow Al Gore's Documentary to be shown in UK Schools - ONLY with an accompaniment pointing out 9 inaccuracies within the film and a statement outlining its political bias.

Now don't get me wrong, I am a fan of An Inconvenient Truth - largely for what the Film has done to raise awareness of this issue Globally- so I find some of the findings quite disturbing, especially that the judge feels there is no evidence to prove that the Polar Bears drowned due to Global Warming. If Global Warming has a poster child that has tugged at the hearts and minds and converted many a believer it is the image of the Polar Bears drowning


[ Click here to read more ]
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Backflip almost entirely complete....

October 11th 2007 06:10
It is being reported today that the Government via Malcolm Turnbull have said they may ratify the new version of the Kyoto Protocol in Nov/December.......hands up who is shocked....

Should be no-one, they have def been warming up to this complete 180 for some months now, to pledge to ratify this treaty is the Icing on the cake and even tho I hate talking politics it says to me that the Govt will call the election any Second now...they are just ironing out a few thorns in their side...as has been discussed before apparently polls say 86% of us care about this issue they have successfully messed up so you could call this issue a thorn....... here we go....the sooner its over and done with the better I say


[ Click here to read more ]
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Are there any good guys????

October 10th 2007 06:46
you don't have to follow Climate Change Issues closely to know that the Cleanest, Coolest, accessory Car in the world is the Toyota Prius. Just because they have sold over 1million Prius Green Machines, you could be fooled into thinking that Toyota actually gives a toss about Climate Change and Global Warming and has a social conscience THINK AGAIN.....

Take a look at this story CLICK HERE Toyota is ganging up with the three other major US Car producers to oppose the Amendments to the U.S. Fuel economy standards ...... this bill would be a major step forward in reducing America's Greenhouse Gas Emissions.....so guess what guys


[ Click here to read more ]
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Are we past the tipping point?

October 10th 2007 01:16
Tim Flannery, Australia's leading Climate Change Scientist says that the UN report on Climate Change due out next month will show that we are past the tipping point, and it seems we have been beyond it for some time.

It's pretty scary if we are beyond the tipping point, and makes the UN post Kyoto Negotiations in Nov/December even more crucial


[ Click here to read more ]
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I am a Walrus.......

October 8th 2007 04:00
Now the Walrus is copping it. If it wasn't heart wrenching enough watching the plight of the Polar Bears we now have a new victim of Global Warming, everybody's favourite blubbery marine mammal the wise old Walrus.

Apparently every year the Walrus goes to its favourite Ice Caps to fish, mate and enjoy life, now their play ground has been decimated and they have to settle for rocky Alaskan Beaches for food and mating. it remains to be seen whether or not these rocky beaches have enough food for these Blubbery friends so scientists are unsure as to how they will cope with their new habitats. Fingers crossed


[ Click here to read more ]
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Bottled Water cops it again.....

October 4th 2007 03:27
Photo Coutesy of Morgue File
See this Photographers Great Work http://www.morguefile.com/archive/?author=bella_domanie
CLICK HERE

Manly Council are on the War Path against the Humble Water bottle ....not Coke, not Fanta, not Ice-Cream wrappers or any of the other INFINITE varieties of rubbish left on Beaches. Apparently all the Water bottles left behind are creating a "Carbon Footprint" so water should be banned......fair enough BUT there is LOTS of other Rubbish and has anyone ever heard of Recycling Bins


[ Click here to read more ]
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Do we think this is an exaggeration.....??? Possibly, maybe just a little hysterical?????

This guy is telling stories of Doomsday for Sydney by 2070......it is going to be uninhabitable


[ Click here to read more ]
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Hooray for Hollywood....or not?????

October 2nd 2007 05:25
I really enjoyed this Article on how much of a Contributor to Carbon Emissions Hollywood is. The Article is alluding to the fact that as a group in General Hollywood creates a lot of waste and doesn't do enough about offsetting it outside of buying Carbon Credits....

On a level I agree but on another whole level I totally disagree...... there is no denying movies create a lot of Emissions, so do a lot of things, like breathing.......I think this negative is outweighed by the good they are doing by creating awareness If it wasn't for Hollywood a lot of the current Global awareness we have simply would not exist. Think about it like this, Hollywood gave Al gore the Oscar, winning the Oscar gave An Inconvenient Truth exposure and Credibility it could never have dreamed of, it went from being shown at the Dendi at Newtown to being mainstream in a heart beat, that is an identity transformation from a hippie BS issue to something even my Dad is concerned about......You can't really put a price on that.......AND i give them double brownie points because in our backyard it made John Howard do possibly his biggest Political backflip ever ensuring whatever happens this country will finally be part of the Climate Change solution not part of the problem no matter who wins the election


[ Click here to read more ]
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