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When Will Corporate America Confront Republican Climate Denial?

When Will Corporate America Confront Republican Climate Denial?

Much as the world must hope that the governments assembled in Paris achieve their objectives, at the very least they have provided an occasion for business leaders of all descriptions to announce their commitment to climate sanity. With sponsorships, pledges, and official statements, a long list of major corporations has declared that man-made climate change is real and must be reversed to save the earth — and their profits.

Easy as it is to lampoon the professions of these corporate leaders, there should be little doubt that some and perhaps most are sincere. They’re sentient human beings, after all, whose children and grandchildren will have no choice but to live on this endangered planet. They say that is why they’ve publicly expressed support for successful negotiations in Paris and promised to reduce carbon emissions while using and investing in clean energy.

According to the White House, many of those firms have made still more stringent vows, to cut emissions by 50 percent, to reduce water waste by as much as 80 percent, to send no more solid waste to landfills, to purchase only renewable power, and to stop causing deforestation. All of which sounds marvelous and necessary – but what would American corporations do if they really, truly, seriously wanted to stop climate change?

They would do what they do whenever they want to influence any important policy change, of course: Deny financing to political forces on the other side, and deploy their enormous lobbying clout against those forces.

Today, that would mean giving not another dime to House and Senate Republicans – or to any Republican presidential candidate who denies climate realities and insists on reversing President Obama’s current initiatives.

As a matter of policy, the Republican Party obstructs any serious effort to prevent catastrophic climate change. And because the United States is still the largest carbon polluter per capita in the world — and now the second largest in absolute terms – Republican obstruction has worldwide consequences. Just this week, Senate Majority Leader Mitch McConnell barked an ominous warning to the world leaders meeting in Paris, saying that the next GOP president could simply “tear up” all of Obama’s efforts to diminish power-plant pollution.

The myopic McConnell (whose home state of Kentucky produces dirty coal), has gone even further, sending his aides to foreign embassies with the message that none of America’s international partners can rely on commitments made by Obama in Paris. Unfortunately, McConnell’s irresponsible conduct is merely typical of his party’s leadership.

But the Republican hostility to climate science is a minority viewpoint in the United States, as polling data has demonstrated clearly for years. Two out of three Americans view climate change as a global menace and support a binding international agreement to reduce greenhouse gases. More than half want the United States to lead the world in dealing with that threat. Even a majority of Republican voters understand that an overheating planet is dangerous, and support the power-plant regulations that McConnell and his Senate caucus oppose.

Republican Congressional leaders in both houses know they can continue to lie and deny on climate, so long as the nation’s business leaders fail to demand change. Although they will always collect millions from ExxonMobil, the Koch brothers, and assorted fossil fuel profiteers, they might begin to worry if other economic interests that have traditionally supported them suddenly turned off the money and turned on the pressure.

From Goldman Sachs to General Mills, from Microsoft to Monsanto to McDonalds, scores of major companies have signed the White House’s American Business Act on Climate Change Pledge. By doing so they affirmed support for “action on climate change and the conclusion of a climate change agreement in Paris that takes a strong step forward toward a low-carbon, sustainable future.”

Companies like these have huge lobbying, political action, public relations, and advertising budgets – and all of them could well afford to spend even more on such a crucial issue.

No doubt they would risk trouble with the Congressional Republicans if they took strong political action on climate. But they claim to believe their future at stake, along with the future of generations to come. So if they wish to accomplish more than green-washing their reputations, then the time is surely coming when the corporate environmentalists will have to confront the Republican Party – or be exposed as frauds.

Photo: Senate Majority Leader Mitch McConnell talks to reporters after the Senate Republican weekly policy luncheon at the Capitol in Washington, July 8, 2015. REUTERS/Kevin Lamarque 

How The Rise Of Renewables Brings A Fix For Climate Ever Closer

How The Rise Of Renewables Brings A Fix For Climate Ever Closer

By Alex Morales, Bloomberg News (TNS)

LONDON — United Nations climate talks set to begin in Paris next week promise to produce a landmark deal that has eluded diplomats for more than two decades.

All of the Group of 20 nations, including the biggest developing countries — China, India and Brazil — have prepared to limit emissions into the next decade. Plunging costs for wind and solar power mean alternatives to fossil fuels are more viable.

At least 130 heads of government and state will descend on the city for the opening of the two-week conference Monday as France’s biggest diplomatic gathering since 1948 coincides with a security lockdown spurred by the deadly Nov. 13 terrorist attacks. Thousands of police and soldiers will be deployed, and planned demonstrations by environmental activists have been canceled due to the terror threat.

While the fatal assaults will make the mood more “sober,” said Yvo de Boer, a former U.N. global-warming chief who is now director-general of the Global Green Growth Institute in Seoul, South Korea, “there is a broader desire to see global action on climate change, which was there before the unfortunate Paris attacks and is still there now.”

Momentum is building toward a comprehensive deal to curb greenhouse gases and the worst effects of global warming, including prolonged droughts, rising seas and melting glaciers. The previous effort, in Copenhagen in 2009, collapsed in acrimony, and fewer than 80 nations stepped forward with emissions pledges. More than 170 countries have done so this time.

The pledges would restrain the rise in global temperatures to 2.7 degrees Celsius (4.9 degrees Fahrenheit) since pre-industrial times, according to Climate Action Tracker. That’s better than its 2009 projection of 3.5 degrees Celsius, though short of the international target of 2 degrees and the goal sought by island nations of 1.5 degrees.

“In Paris we have two important positive points of departure: global political momentum and leadership and a better competitive environment for clean energy,” said International Energy Agency Executive Director Fatih Birol.

As costs come down, countries are investing more in renewables, especially developing countries. In six years, India has multiplied by five its solar power target for 2022, raising it to 100 gigawatts.

Wind turbines cost $935,000 per megawatt on average, down from 2009, according to Bloomberg New Energy Finance. Solar panel prices have fallen to 65 cents per watt this year from about $2 at the end of 2009, according to Jenny Chase, BNEF’s head of solar analysis. The cost of a kilogram of polysilicon, the raw material used in most panels, this month fell to $14.76, a record low that’s a quarter of the price in December 2009.

Onshore wind power is cheaper than fossil generation in Brazil, Chile and the windiest parts of Texas and Oklahoma, said Amy Grace, who heads BNEF’s wind analysis. In most major European markets, including the U.K. and Germany, the best wind projects are cost-competitive with new coal and gas plants when accounting for the carbon price.

“It’s actually possible now to combine growth with a green agenda to tackle climate change,” Vestas Wind Systems A/S Chief Executive Officer Anders Runevad said in an interview.

“The cost of delivering this looks more manageable now,” said U.K. Energy and Climate Change Secretary Amber Rudd.

There are signs of a retreat from coal and oil. Investors with $2.6 trillion of assets under management have pledged to withhold money from fossil fuels, up from $50 billion a year ago. The oil industry is divided, with European majors in June breaking with their biggest U.S. competitors and supporting efforts to put a cost on carbon pollution.

Last year, renewables contributed almost half of the world’s new power generation capacity, according to the IEA. Mandatory energy efficiency regulations on everything from fridges to industrial boilers now cover more than a quarter of global energy use, the agency says. In the five years through 2014, new investment in clean energy totaled $1.46 trillion, up from $802 billion in the five previous years, according to BNEF.

While investment in renewable energy has boomed, the industry hasn’t been a safe bet in the stock market. WilderHill New Energy Global Innovation Index of 105 clean energy companies has tumbled 29 percent since the Copenhagen climate summit while global shares in the MSCI World Index appreciated 46 percent, according to data compiled by Bloomberg. The so-called NEX index fell 9.5 percent in the past year as concern about the global economy prompted a flight to safety in equities.

Politically, efforts to boost renewable and curb global warming are gaining traction. The turning point came in November last year, when U.S. President Barack Obama and his Chinese counterpart Xi Jinping jointly announced efforts the world’s two biggest emitters will take to limit pollution, said Birol of the IEA.

Commitments by developing countries are crucial to a deal because their share of emissions has rocketed since 1992, when the United Nations Framework Convention on Climate Change established the divide that required only industrialized nations compelled to adopt numerical targets on emissions.

“You’re going from action by few to action by all,” EU negotiator Elina Bardram said in an interview. “The momentum is really unique.”

©2015 Bloomberg News. Distributed by Tribune Content Agency, LLC.

Photo: United Nations Photo via Flickr