[GWSG] China's C market; fossils peak?; climate disruption; WASP ships; API's reach; Manchin's business; G20 subsidies

[Tilley, Al]

1. China has launched a carbon trading system. It is limited but China intends to expand it.  https://www.nytimes.com/2021/07/16/business/energy-environment/china-carbon-market.html?campaign_id=2&emc=edit_th_20210717&instance_id=35601&nl=todaysheadlines&regi_id=43628374&segment_id=63737&user_id=8c547d53af6ff6fc7d49cb8612c07102
 2. Fossil fuel production is likely to have peaked globally. Moreover, 88% of the production growth in the coming twenty years is expected to come from emerging economies, and those are likely to turn overwhelmingly to renewables. In the short term, though, coal is likely to remain an important source of power. Prudent policies and planning could interrupt that. For example, banks could cease giving more favorable rates to loans for fossil fuel development, and nations could support those workers from the old industry who need new jobs. https://www.dw.com/en/fossil-fuel-electricity-peaks-as-emerging-markets-leapfrog-to-renewable-energy-report/a-58290405

3. Extreme weather events are happening sooner and more strongly than expected. Heat waves in the US and floods in Germany and Belgium are getting the most attention, but the suffering is broad. https://www.theguardian.com/environment/2021/jul/16/climate-scientists-shocked-by-scale-of-floods-in-germany

4. Blue Wasp has designed a wind assist system for ships which can supply up to half their power through WASP (wind assisted ship propulsion). WASP should be incorporated in the ship’s design from the beginning and will require some shiphandling adjustments. https://the-beam.com/transport/how-wind-assisted-ship-propulsion-can-transform-marine-transport/

5. The American Petroleum Institute allows oil companies to claim responsible actions in public while pursuing climate action obstruction under cover of the API. The Republican Party is said by Senator Sheldon Whitehouse to be among the organizations funded largely by the API. https://www.theguardian.com/environment/2021/jul/19/big-oil-climate-crisis-lobby-group-api

6. Senator Joe Manchin is not only supported by the fossil fuel industry, he founded and leads the coal brokerage Enersystems. https://www.theguardian.com/commentisfree/2021/jul/20/joe-manchin-big-oil-democratic-senator

7. The G20 countries have contributed more than $3.3 trillion in fossil fuel subsidies since 2015, according to a Bloomberg report. It recommends ending subsidies, putting a price on carbon emissions, and making companies disclose the risks they run from the climate crisis. https://www.theguardian.com/environment/2021/jul/20/g20-states-subsidised-fossil-fuels-2015-coal-oil-gas-cliamte-crisis

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