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Sun06162019

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Climate Change

1.5C rise in temperature enough to start permafrost melt

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altA global temperature rise of 1.5C would be enough to start the melting of permafrost in Siberia, scientists warned on Thursday. Any widespread thaw in Siberia's permanently frozen ground could have severe consequences for climate change. Permafrost covers about 24% of the land surface of the northern hemisphere, and widespread melting could eventually trigger the release of hundreds of gigatonnes of carbon dioxide and methane, which would have a massive warming effect.

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How much will climate change cost?

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altThe impact of climate change on local, national and global organisations and economies is growing. A paper published in CIWEM’s Water and Environment Journal this week says local authorities should be proactive in climate change adaptation and mitigation to avoid ever-increasing costs.

In a paper published in the Chartered Institution of Water and Environmental Management’s (CWIEM) Water and Environment Journal earlier this week, M. Ncube et al. examined the impact of rainfall variability on municipalities’ water and energy demand in South African local governments.

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Emissions trading scheme: EU committee passes 'rescue' reforms

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altReforms aimed at rescuing the European Union's landmark carbon-cutting mechanism, the emissions trading scheme (ETS), are back on track after attacks from business lobbyists and Conservatives.

A key committee of the European parliament judged in favour of the reforms on Tuesday, meaning that they will move on to be debated by the whole parliament, probably in April. However, it was unclear on Tuesday whether there would be an additional stage of scrutiny before the parliamentary vote, during which time the measures could be watered down.

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EU urged to revive flagging emissions trading scheme

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altInvestors and a group of large businesses have urged the EU to revive its flagging emissions trading scheme (ETS), ahead of a key vote in the European parliament next week.

Shell, General Electric, Kingfisher, Unilever and EDF were among more than 30 large companies signing up to call for reforms that would raise carbon prices and restore confidence in the scheme, which is meant to cut the EU's carbon output. The Institutional Investors Group on Climate Change (IIGCC), which represents investors and asset managers worth €7.5 trillion, also joined the call for reform.

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University of Oxford to identify 'stranded' high carbon assets

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altOne of the UK's leading universities will on Monday launch a new research programme aiming to help investors identify assets that could be left "stranded" by climate change, declining resources and the emergence of new green technologies.

Backed by HSBC, Aviva, WWF-UK and Climate Change Capital, the four-year University of Oxford research programme is attempting to flag up high-carbon sectors and assets that could be dramatically devalued or written off by the continuing shift towards a greener economy.

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