[GWSG] Unpriced risk bubble; a bank CEO's ideas; salting the earth; WRI on CDR; DE drops nukes; EPA emissions analysis

[Tilley, Al]

1. Unpriced climate risk to property has led to a real estate bubble. A map of unpriced climate risk in the US shows where the risk is most intense. “Where meeting that risk is more expensive than decision-makers think a place is worth, it simply won’t be defended. It will be unofficially abandoned.” The losses will then snowball as bonds, loans, and insurance suffer. Coastal property is at obvious risk, and so is property in areas experiencing drought, excessive heat, wildfires, and inadequate water supply.  https://climatecrocks.com/2023/04/11/climate-changes-big-short-the-real-estate-bubble/

2. The CEO of JP Morgan suggests using eminent domain to develop solar energy resources in the US, and a Marshall Plan approach to fund renewable energy in poor countries. https://pv-magazine-usa.com/2023/04/07/invoke-eminent-domain-marshall-plan-for-renewable-energy-said-jp-morgan-ceo/

3. Salting and burying biomass can sequester carbon for thousands of years at low cost. (It also produces agriculturally sterile land, but the Berkeley researchers claim that the amount of land required is relatively small.) https://phys.org/news/2023-04-salting-biomass-crops-dry-landfills.html

4. The World Resources Institute offers an up-to-date summary of developments in carbon dioxide removal and sequestration. (They do not discuss carbon capture and sequestration, a favorite non-fix of the fossil fuel industry and a great generator of opportunity costs.)  https://www.wri.org/insights/emerging-carbon-removal-approaches?utm_campaign=wridigest&utm_source=wridigest-2023-04-12&utm_medium=email

5. Germany is shutting down its three remaining nuclear power plants this week. “The country is still searching for a location to permanently store almost 2,000 containers of highly radioactive waste for thousands of generations.” https://apnews.com/article/germany-nuclear-power-plants-shut-down-5ce6958e25374bbbe1dd80cbfbc2398a?utm_source=cbnewsletter&utm_medium=email&utm_term=2023-04-13&utm_campaign=Daily+Briefing+13+04+2023

6. The EPA’s new emissions standards for light vehicles are meant to ensure that 67% of new vehicles sold in the US by 2032 are fully electric. This analysis from Nature observes that the way has been prepared by previous legislation, and that even without the new standards over 50% of vehicles sold by 2030 would be likely to be EVs. Materials and manufacturing capacity are not likely to be impediments. “The EPA’s initial estimate is that the regulations would reduce carbon emissions by around ten billion tonnes over the next three decades. That is more than double the United States’ emissions last year, or more than one-quarter of the global total.”  https://www.nature.com/articles/d41586-023-01255-y?utm_source=Nature+Briefing&utm_campaign=7cfea6ec1f-briefing-dy-20230413&utm_medium=email&utm_term=0_c9dfd39373-7cfea6ec1f-47505448

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