NewEnergyNews: QUICK NEWS, October 14: Deniers Fate Will Be Bankruptcy; Coal’s Demise, New Energy’s Rise


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  • MONDAY’S STUDY AT NewEnergyNews, August 10:
  • The World’s New Energy Right Now

    Monday, October 14, 2019

    QUICK NEWS, October 14: Deniers Fate Will Be Bankruptcy; Coal’s Demise, New Energy’s Rise

    Deniers Fate Will Be Bankruptcy Firms ignoring climate crisis will go bankrupt, says Mark Carney; Bank of England governor warns of financial collapse linked to climate emergency

    Damian Carrington, 13 October 2019 (UK Guardian)

    “Companies and industries that are not moving towards zero-carbon emissions will be punished by investors and go bankrupt, the governor of the Bank of England has warned…[Mark Carney said] the global transition needed to tackle the climate crisis could result in an abrupt financial collapse…[and] the longer action to reverse emissions was delayed, the more the risk of collapse would grow…[Just 20 fossil fuel companies have produced coal, oil and gas linked to more than a third of all emissions in the modern era…The Bank of England has said up to $20tn (£16tn) of assets could be wiped out if the climate emergency is not addressed effectively. But Carney also said great fortunes could be made by those working to end greenhouse gas emissions with a big potential upside…

    Carney said disclosure by companies of the risks posed by climate change to their business was key to a smooth transition to a zero-carbon world as it enabled investors to back winners…US coal companies had already lost 90% of their value…[and] banks overexposed to the sunset sectors will suffer accordingly…[as transition to net zero carbon emissions changes] the value of every asset, raising the risk of shocks to the financial system…[while] climate action bolsters economic growth…[Recently,] Carney told big corporations they had two years to agree rules for reporting climate risks before global regulators devised their own and made them compulsory…” click here for more

    Coal’s Demise, New Energy’s Rise Coal demand projected to hit new lows through 2020

    Rebecca Beitsch, October 10, 2019 (The Hill)

    “Coal is losing ground in the U.S. energy markets despite attempts from President Trump to boost the struggling industry…[Coal’s share of U.S. electricity generation] is expected to decline] from 28 percent in 2018 to 22 percent by 2020…That would make for a 27 percent decline in coal production since 2016…Utilities across the county have announced they will be closing various coal-fired power plants, while banks have been hesitant to finance the industry’s projects…

    The Trump administration has made an effort to boost the coal industry, scrapping an Obama-era power plant rule and replacing it with one critics have contended would only allow the most modest pollution controls at power plants…[New Energy’s share of U.S. electricity generation is forecast to go] from just under 10 percent in 2018 to 12 percent by 2020…[with carbon emissions declining] by about 2 percent in 2019 and 2020, despite a nearly 3 percent rise in 2018.” click here for more


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