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September 18, 2020
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Multinational companies account for nearly a fifth of global CO2 emissions, researchers say Charleston Sues 24 Fossil Fuel Companies For Costs Of Surviving Climate Change Vattenfall Ready to Close Largest German Coal Plant Hydroelectric-solar microgrid powering operations in Patagonia National Park WA’s South West could soon be home to an advanced manufacturing hub Hotter oceans make the tropics expand polewards Power companies face hardship in pandemic Australia’s Suncorp to stop financing, insuring oil and gas industry by 2025 Report sees India’s reliance on thermal power dropping to 50% in 2021, 43% in 2026 People power wins over coal funders Bill McKibben Sees “Vivid Possibilities For A Rapid Energy Transformation” RWE looking at renewables, hydrogen for future growth opportunities US power generator Vistra receives permit for 1.1GW battery storage Phillips 66 plans world’s largest renewable fuels plant Innovative Byproduct-Hydrogen Fuel Cell Power Plant Completed Global offshore wind industry takes huge strides Northvolt: $3 Billion For 2 Battery Gigafactories In Europe Repsol on board with aviation biofuels GoodFuels supports EU’s RED II 250 million coastal dwellers to face rising floods ‘Extreme’ glacier loss events linked to human-caused climate change for first time Free Solar-Powered Irrigation to India’s Farmers? Deutsche Bank to stop global coal mining business activities by 2025, also halt oil sands funding Renewables in Asia: A hard race against fossil fuels World’s Largest Solar Power Plant Moves Forward In UAE Human activity likely cause of Arctic’s heat wave Ireland’s renewable electricity scheme gets EU approval Greta Thunberg wins 1 million euro prize, says she will donate it to environmental groups Hanoi air pollution control to be enhanced Velocys backs call for more investment in sustainable aviation technology

How Bloomberg would tackle climate change

Bloomberg would factor in climate risks and community impacts in all environmental reviews and in the Office of Management and Budget’s annual budget process. It would also stop federal agencies from defending the Trump administration’s rollbacks of emission regulations in court while a Bloomberg administration develops stronger limits on pollutants. The administration would also beef up enforcement staff at the Environmental Protection Agency.

What are the weaknesses in the proposal?

It includes no estimates of what the proposals would cost, or details on how a Bloomberg administration would pay for it. It would also face certain legal challenges from the oil and gas industry that would argue a wholesale shutdown of down coal- and natural-gas fired plants within a decade or two would decimate the economy and its large workforce. That plan also overlooks emissions from cars and trucks, a huge source of carbon dioxide.

How much would it cost?

The only figure in the plan is the $25 billion dedicated to R&D — which would be a tiny fraction of what the plan’s total cost.

How would he pay for it?

A Bloomberg administration would halt all subsidies for fossil fuel development, which it says cost “billions of dollars.” No other funding source is mentioned.

What have other Democrats proposed?

Other Democratic candidates have focused on stopping oil and gas drilling on public land, and in the case of Sens. Elizabeth Warren and Bernie Sanders, banning hydraulic fracturing. Bloomberg’s plan focuses on the demand side of the equation, aiming to end utilities’ use of fossil fuels.

Who would it help?

The plan would benefit solar and wind power companies with tax credits, quicker permitting and promises to improve transmission lines. It would also help companies working on next-generation battery and hydrogen technology. The plan also would aid communities suffering from pollution and low-income areas that are at risk from a changing climate.

Who opposes it?

Fossil fuel companies and many electric utilities, as well as Republicans who and centrist Democrats who supported jobs in the oil, gas and coal sectors.

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