Understanding Climate Risk

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Archive for March 28th, 2012

Natural Capital Declaration

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The run up to Rio 20+ is well and truly on with the Planet Under Pressure Conference currently underway in London. There will be a declaration that carries on from the Copenhagen Declaration but the focus this time will be on solutions. And a good thing, too. A host of other declarations  are  also being prepared and signed.

One such is the Natural Capital Declaration:

The Natural Capital Declaration is a statement by the financial sector demonstrating our commitment at the Rio+20 Earth Summit to work towards integrating Natural Capital criteria into our financial products and services for the 21st century.

Through it we wish to acknowledge and re-affirm the importance of Natural Capital in maintaining a sustainable global economy, and call upon the private and public sectors to work together to create the conditions necessary to maintain and enhance Natural Capital as a critical economic, ecological and social asset.

Natural Capital comprises Earth’s natural assets (soil, air, water, flora and fauna), and the ecosystem services resulting from them, which make human life possible. Neither these services, nor the stock of Natural Capital that provides them, are adequately valued compared to social and financial capital. Despite being fundamental to our wellbeing, their daily use remains almost undetected within our economic system. Using Natural Capital this way is not sustainable.

The Natural Capital Declaration is the first of its kind to be only open to signature by CEOs of willing financial institutions – a measure intended to get top-level buy-in by banks, institutional investors and asset managers and (re-)insurance companies.

You can download the pdf version of the whole statement here. Read the rest of this entry »

Written by Roger Jones

March 28, 2012 at 10:41 pm

Alan Pears on the flawed Clean Energy Future

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Both the Victorian and Queensland governments have recently announced they are dropping emissions targets set within state climate change legislation. They say that the presence of national targets make state targets redundant. Alan Pears, writing in The Conversation disagrees. He says that because of flaws within the federal legislation there is no incentive beyond doing the bare minimum:

The Commonwealth Government’s Clean Energy Future scheme design is flawed. I, along with Richard Denniss from the Australia Institute, the Voluntary Carbon Markets Association and others have been pointing out this flaw and showing how it could be fixed, for over three years.

The problem is that if a state government, council, business or household voluntarily cuts its emissions beyond what it is legally required to do (for example, under building energy regulations), this simply frees up more permits for other emitters to use, so their efforts don’t cut the total amount of carbon emissions. But Canberra econocrats and politicians have simply turned deaf ears.

The frustrating thing is that this flaw is easily fixed.

Read more at The Conversation:

Written by Roger Jones

March 28, 2012 at 11:49 am

ACORN-SAT is AOK

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Last Friday the global climate conspiracy erected another plank dressing up the façade that is record of warming record in Australia. At an extra-ordinary nerdfest held the Victorian State Library, the cruel manipulations of temperature records by the Bureau of Meteorology were described. ACORN-SAT, I mean, really! Lies dressed up as statistics were outlined to an audience who hung on every word. The conspirators have done such a good job that the Australian record so closely resembles the tricked up records from Hadley-CRU, the Goddard Centre for Space Studies and NASA, that they all have to be made up. There’s no way that independent analyses of measurements of something we can’t see – air – can be so accurate.

Well, that’s the objections of the denialati out of the way.

The BoM did release The Australian Climate Observations Reference Network – Surface Air Temperature (ACORN-SAT) data on Friday and it looks excellent. Today I’m downloading some of the data for a project I’m involved in, so it’s good to have. The data were also used in the recent State of the Climate 2012 released by the Bureau and CSIRO.

Part of the impetus to get this done was a barely coherent set of assertions on how Australia’s climate records were being massaged by the Bureau. These assertions were formally submitted (pdf) as a request to audit climate records to the Attorney-General in February 2010. Co-signees were Senator Cory Bernardi, Joanne Nova (an alias), Andrew Barnham, Anthony Cox, James Doogue, Chris Gillham, Ken Stewart and Dr David Stockwell. They also alleged that BoM and CSIRO advice on climate change was misleading. This follows up similar fishing expeditions in New Zealand and the US yielding similar results. Not only were the records validated, quality control methods and subsequent adjustments improved those data giving us even more confidence that the record of warming they contain is unimpeachable.

Improved methods, external international review and a more comprehensive coverage have led to the Bureau to claim they have the some of the best quality records of temperature of any country. I think they’re right.

Read the rest of this entry »

Written by Roger Jones

March 28, 2012 at 10:56 am

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