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climate change
The ecological and social implications of climate change have – or should – become a central parameter for all discussions of work and capitalism. It is generally agreed that reliance on the burning of fossil fuels as the pre-eminent energy source for production and consumption over the history of capitalism is the critical factor in the ruinous greenhouse gas emissions triggering global warming, which would become irreversible if the earth's atmosphere were brought to a ‘tipping-point’. The leading scientific estimates project that a rise in average global temperatures of 2°C (and now often just 1.5°C) is the threshold for irreversible climate change; that this can be expected from an accumulation of 1 trillion metric tonnes of carbon in the atmosphere; that we are approaching 600 million tonnes; and that the carbon ‘tipping-point’ may well be reached in 30 years unless carbon emissions can be reduced by 2-5% per year (and now often even more severe reductions).
A supplement to Eco Unionist News:
(in 2015), the Norwegian Parliament took a historic decision to move the Government Pension Fund Global (GPFG) out of thermal coal. The Parliament determined that companies should be excluded if they “base 30% or more of their activities on coal, and/or derive 30% of their revenues from coal.”1Thiswas an important break-through as the 30% threshold established a new benchmark for divestment actions of large investors. Only months after the Norwegian decision, the world’s largest insurance company, Allianz, undertook a coal divestment action of its own based on the GPFG’s 30% threshold.2And other investors such as KLP and Storebrand, which had already undertaken divestment actions, have now tightened their thresholds to keep up with the trail blazed by the Norwegian Parliament.
Something truly incredible is happening. We're only half way through it, but 2016 is a record-breaking year. The second week of May was extraordinarily spectacular, with records being smashed left right and centre. As tens of thousands of people took direct action in the biggest ever global wave of civil disobedience targeting the world's largest fossil fuel infrastructure projects, energy produced from renewables soared to new heights while coal collapsed to an all-time low, multiple global temperatures records were smashed by the biggest margins ever and Arctic sea ice fell to its lowest ever extent for May.
This report documents massive exports of federally owned coal from 2000-15. The US Bureau of Land Management sold private companies the right to mine this coal for a pittance—in some cases, for less than 20 cents per ton. And when Asian demand was red-hot, these companies made massive profits selling millions of tons of federal coal overseas. Nonetheless, the Bureau of Land Management (BLM) has essentially ignored export economics when setting the “fair market value” that it will accept for federal coal leases. Now that the Department of Interior has placed a three-year moratorium on new coal leases pending a thorough review of federal coal policies, BLM has an ideal opportunity for a thorough review of the economics of exports. And our report points to evidence that by ignoring exports, the BLM has been selling many federal coal leases at just a fraction of their true economic value.The Fine Print I:
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The Fine Print II:
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