Environment

UAE is timely reminder of climate plan B urgency

18 Apr 2024

Torrential rains have flooded Dubai’s airport. Spending cash to prepare for the impact of global warming often takes a back seat to slashing emissions. The more richer states upgrade climate defences, the more they highlight the need to help poorer ones do so too.

Eclipse overshadows Texas’ solar power strength

8 Apr 2024

The Lone Star State’s grid can handle Monday’s dimming of the sun. A bigger test comes when less-predictable natural events occur. Battery storage is growing fast enough that, soon, cheap solar energy should be available when the sun unexpectedly doesn’t shine.

Next Chinese trade war could benefit the planet

8 Apr 2024

As Beijing floods the world with cheap green goods, the West will put up trade barriers. That will delay the energy transition in the United States and EU. But the glut of EVs, solar panels and the like will speed it up in China and much of the Global South.

Nickel rout is energy-transition warning for West

8 Mar 2024

Prices of the battery metal have halved in a year, leaving many mines unprofitable or mothballed. Indonesia’s China-backed industry now dominates. Piecemeal aid and a green premium push are unlikely to alter that. Absent smart planning, copper and lithium are vulnerable, too.

EIB backing would add spark to EU mini-nuclear bid

1 Mar 2024

Europe’s bid to develop smaller, cheaper nuclear reactors as part of its plan to cut carbon emissions needs cash and political support. European Investment Bank financing for next-generation projects would make a difference. Even so, green benefits may take years to materialise.

Buffett puts $1 trln grid problem in a bad light

26 Feb 2024

The billionaire’s Berkshire Hathaway became one of the biggest US utilities on the basis that providing electricity would generate steady returns. He now says he made a “costly mistake.” Thirteen-digit capital demands from climate change are quickly dimming investment prospects.

The rocky road to an ‘eBay for carbon credits’

20 Feb 2024

Markets that trade the right to emit greenhouse gases have a ropey history. Still, in this Exchange podcast Harvard University Fellow Ely Sandler argues that companies and countries may increasingly pay carbon taxes via emission permits – and unlock cash for the green transition.

Exxon has a chemical escape hatch

2 Feb 2024

The oil giant earned $36 bln last year thanks to high crude prices, but the future looks dim for fuel demand. The company’s petrochemical business, though, is in the opposite position: Excess supply has driven down prices, but growing demand for plastics promises riches to come.

Shein’s waste factor is its ultimate IPO risk

19 Jan 2024

The China-linked retailer’s lean production model helps it keep inventory low. Yet its polyester garments are carbon-intensive and hard to recycle. Regulators’ growing unease about textile pollution, and the cost of addressing the mess, may require giving up clients or margins.

‘Polluter pays’ doctrine will take on new meaning

3 Jan 2024

Carbon-intensive throwaway fashion and ubiquitous plastic waste are dirtying the globe. That may change as governments start to crack down on discarded textiles and polymer-based items. Companies and their investors face a costlier journey to a more sustainable world.

Green backlash will spread to European Parliament

3 Jan 2024

Pro-environment parties risk losing clout in June’s pan-EU vote. That will reinforce a strengthening bond between conservatives and far-right forces wary of the industrial and social cost of the clean transition. The EU’s ambitious Green Deal will get a paler hue.

Tesla-BYD rivalry is mostly manufactured, for now

3 Jan 2024

Elon Musk’s outfit ceded its title of world’s biggest EV maker to the Chinese company. In a growing industry, that’s irrelevant, plus BYD has a home advantage. The longer-term danger to Tesla, assuming geopolitics doesn't upend its supply chain, is if its peer advances in tech.

Aussie tycoon will blaze new green activist trail

2 Jan 2024

Atlassian co-CEO Mike Cannon-Brookes has already used some of his billions to tackle climate change, like battling the country’s top carbon emitter. Quitting the software firm would make him more effective. Other wealthy moguls may then join him in the activist trenches.

Biofuels comeback will give West a rare energy win

20 Dec 2023

Propellants from plant waste and animal fats have lost out amid an e-mobility push. Yet the difficulty of using electricity for planes and ships, and the rise of non-edible crops as feedstock, will offset food supply fears. Western groups like BP, Total and Eni will benefit.

COP28 deal just about keeps net zero on the road

13 Dec 2023

Nations at the climate shindig agreed to start transitioning away from fossil fuels. The wording could have been tougher and clearer, and the world still faces harmful warming. But the Dubai meeting could have yielded a damaging standstill, rather than a baby step forward.

How rich societies can live well with slow growth

11 Dec 2023

Advanced economies are expanding less rapidly, while ageing populations, conflict and climate change demand more resources. An acquisitive mindset leads to unhappiness and conflict. But if societies embrace a more purposeful, caring and greener future, they can flourish.

 

COP28 wrestles with the nuances of binning oil

7 Dec 2023

The global climate conference in Dubai has seen its fossil fuel-rich UAE host criticised for appearing to contest the need to phase out crude. In this Viewsroom podcast, Breakingviews columnists discuss how the picture is a bit more complex.

Imagine a better climate pact than COP

4 Dec 2023

The UN summit in Dubai, known as COP28, is unlikely to achieve much because all 197 states need to agree. If a few powerful nations set bold targets and then coaxed others to follow suit, progress would speed up. That will not happen unless the US and China take the lead.

 

UAE green fund risks missing its poor-nation mark

1 Dec 2023

The COP28 climate-summit host unveiled a $30 bln vehicle featuring Brookfield, BlackRock and TPG to help cut emissions. If the firepower goes to developing countries, it will plug big financial gaps. If wealthier nations are the main recipients, it’ll be a squandered opportunity.

COP28’s big dilemma: fossil fuel cuts, or fudges

28 Nov 2023

The success of the Dubai climate shindig rests on how much it slashes emissions via cuts to oil production, and how much it relies on carbon storage or removal. In this Exchange podcast, Energy Transitions Commission chair Adair Turner warns against relying on the latter.