It’s not every day I find myself on the same side of the fence as market liberals. After all, markets work well only until they fail. (And when it comes to the climate they have failed miserably.) But there is one thing we see eye-to-eye on: the damage done by fossil fuel subsidies.
This concurrence was recently highlighted by a US Republican House staffer who argued that fiscal conservatives are, by definition, natural supporters of phasing out fossil fuel subsidies. [Read more →]
July 17, 2013 Comments Off on Let’s not add (fossil) fuel to the fire II: Subsidy phase out
Some very good news last week: Dutch bank Rabobank and Norwegian financial services group Storebrand are the latest companies to withdraw their investments in fossil fuels.
Storebrand will pull its investments away from 13 coal and six oil sands enterprises, while Rabobank will ban loans to “unconventional” energy projects, namely the extraction of shale gas and oil sands. It will also stop lending money to farmers who lease their land to shale gas extraction companies.
July 15, 2013 Comments Off on Let’s not add (fossil) fuel to the fire I: Divestment
Paying Africa’s people to produce all the renewable energy they can would give the continent a huge economic boost, spurring development and the growth of democracy, researchers say.
Africa can go a long way towards lifting itself out of poverty and ending its chronic shortage of energy by using its own resources, a report says.
The report, entitled Powering Africa through Feed-in Tariffs – advancing renewable energies to meet the continent’s electricity needs, says renewable energy feed-in tariff policies (REFiTs) can unlock renewable energy development in Africa. REFiTs encourage investment in generating renewable energy – by individual home owners and communities as well as institutional investors – by guaranteeing to buy all the electricity produced from renewable sources. [Read more →]
March 19, 2013 1 Comment