Tag Archives: CO2

Divesting from oil and gas –Prof. Matthew Richard

Dr. Richard posted this letter to the editor of the The Spectator, VSU’s student newspaper, on SAVE’s facebook page today. I added the links and the images. -jsq

To the Editor:

I would like to address the VSU community with this letter.

VSU Students, faculty, and staff, did you know that many of the clothes that we admire and purchase in the USA are made in places like Bangladesh? Indeed, some of our most popular brands of clothing, including GAP, Old Navy, and Banana Republic originate there. Perhaps you know that many Bangladeshi clothing manufacturers employ children as young as 12 years old who earn as little as $32 per month despite working up to 14 hours a day? It’s little wonder that so many of us can look so stylish—and for relatively little money.

If you didn’t already know this, does it matter to you now? Are you concerned that the money you spend supports sweatshops in Bangladesh and elsewhere, perpetuating the misery of millions of our fellow human beings? Undoubtedly many of us are concerned, and we understand that we can make a difference in the world by being more judicious about where we shop. It’s why we choose to buy groceries at worker-friendly Publix rather than Continue reading →

Display the kind of responsibility that will benefit our university, community, region, and world –S.A.V.E. to VSU Foundation

A copy of what the VSU Foundation called the “ “well-intentioned request” by Students Against Violating the Environment (S.A.V.E.). I added the links and images. -jsq

October 17, 2013

Dear VSU Foundation and Board of Trustees,

Recent years have brought climate change to the forefront of public discussion. A newly released report from the United Nations indicates with 95% certainty that humans are the primary cause of the issue. It is our concern that the continuation of our current practices and our dependence on fossil fuels will only result in continued environmental degradation and human struggle. Knowing the impact that anthropogenic climate change has upon our environment, our health, and our economy, we are asking Valdosta State University to take a stand and join in the effort to address this issue, as social responsibility is part and parcel to the role of public institutions.

As a public institution, Valdosta State University has a responsibility to shape the debate about climate change through its voice, and fossil fuel divestment is another medium for that voice. We are asking that VSU immediately Continue reading →

Your well-intentioned request is impractical –VSU Foundation

The VSU Foundation knows more than 98% of climate scientists, and also sneers at former divestment from tobacco and apartheid companies. Nevermind that fossil fuel divestment is going faster than either of those. Is it good fiduciary responsibility to stay invested in the stranded investments of fossil fuel stocks while solar stocks are skyrocketing? Is this really how to encourage people to give to VSU? Is that how the alumni want their investments used?

Seen today on S.A.V.E.’s facebook page, VSU Foundation’s response to S.A.V.E.’s fossil fuel divestment request:

October 29, 2013

Danielle Jordan, President
S.A.V.E.
Valdosta State University

Dear Ms. Jordan,

The Investment Committee of the VSU Foundation Board of Trustees has reviewed the request from your organization that securities issued by companies engaged in the production of fossil fuel energy be excluded from the foundation’s endowment portfolios. Compliance with your well-intentioned request is impractical for a number of reasons and perhaps even a breach of the fiduciary responsibility that all of our trustees take very seriously.

The various VSU Foundation endowment portfolios are managed Continue reading →

Citizens for solar power; GA leg. not so much

Utility backers in the Georgia legislature tried scare tactics to stop HB 657 (or anything else) from requiring more solar power from Georgia Power. Still no solar tax, said citizens in Savannah, Columbus, Gainesville, Athens, and now Atlanta.

Walter C. Jones wrote for the Florida Times-Union 31 October 2013, Outlook for solar bill isn’t bright in Georgia. Not sure why this picture of me illustrates this story on facebook (I wasn’t at the hearing in Atlanta), but hey, why not.

Claudia Collier with Green Georgia drove from Savannah to speak at the hearing.

“This bill will give us direct choice in where our electricity comes from,” she said.

Rep. Mike Dudgeon, R-Johns Creek, pointed to the amount of solar generation the Public Service Commission ordered Georgia Power to acquire this year.

“It looks like the PSC is already managing the situation,” he said.

As Southern Company CEO Tom Fanning and Georgia Power CEO Paul Bowers well know, Continue reading →

Fossil fuel divestment fastest

Divestment to Financial Hardship to Change in Conduct Not just faster than apartheid divestment; faster than divestment from tobacco, armaments, and others: fossil fuel divestment. It’s not about direct reduction of market capitalization; it’s about making it socially unacceptable to buy from stigmatized companies, and it works, and it’s working faster than ever for fossil fuels. Oh, and fossil fuel companies are a tiny sliver of university endowments, so ditching them is pain free, especially now that fossil fuel stock prices are not rising while solar stocks skyrocket (and nuclear stocks don’t). Go fossil free, go VSU.

Stranded Assets and the Fossil Fuel Divestment Campaign: What Does Divestment Mean for the Valuation of Fossil Fuel Assets? 8 October 2013 | Authors: Atif Ansar, Ben Caldecott, James Tilbury
Damian Carrington wrote for the Guardian Monday 7 October 2013 Campaign against fossil fuels growing, says study: Investors being persuaded to take their money out of fossil fuel sector, according to University of Oxford study,

A campaign to persuade investors to take their money out of the fossil fuel sector is growing faster than any previous divestment campaign and could cause significant damage to coal, oil and gas companies, according to a study from the University of Oxford.

The report compares the current fossil fuel divestment campaign, which has attracted 41 institutions since 2010, with those against tobacco, apartheid in South Africa, armaments, gambling and pornography. It concludes that the direct financial impact of such campaigns on share prices or the ability to raise funds is small but the reputational damage can still have major financial consequences.

Continue reading →

China $375 billion conservation and pollution investment

Fayen Wong and Ruby Lian wrote for Reuters 30 July 2013, China to invest $375 billion on energy conservation, pollution: paper,

China plans to invest 2.3 trillion yuan ($375 billion) in energy saving and emission-reduction projects in the five years through 2015 to clean up its environment, the China Daily newspaper reported on Wednesday, citing a senior government official.

The plan, which has been approved by the State Council, is on top of a 1.85 trillion yuan investment in the renewable energy sector, underscoring the government’s concerns about addressing a key source of social discontent.

China has set a target of reducing its carbon emissions per unit of GDP by 40-45 percent by 2020 from the 2005 level, and raising non-fossil energy consumption to 15 percent of its energy mix, Xie Zhenhua, deputy director of the National Development and Reform Commission (NDRC), was quoted as saying.

The article continues about tiered power pricing for energy intensive industries and carbon trading markets.

Given that most of the world’s increase in energy usage comes from one country, China, according to OECD figures, anything China can do to slow that increase is good.

-jsq

Solar and wind cheaper than fossil fuels –more evidence

The most cost-effective power sources are solar and wind, re-affirms a study that includes social costs, such as the environmental costs of the climate change caused by CO2 from fossil fuels (the social cost of carbon, or SCC), and the health damage caused by sulfur dioxide pollution. It’s time to stop paying for utility executive profits with our health and dollars. No fracking, no pipeline.

M Caulfield wrote for Exposing the Truth 24 September 2013, Renewable Energy Now Cheaper Than Fossil Fuel,

168292900_900x675[1]Renewable energy is becoming more and more competitive. Alternative and renewable energy sources are increasingly becoming more affordable. According to a new study published in the Journal of Environmental Studies and Sciences, it is now less costly in America to get electricity from wind turbines and solar panels, than it is to get it from coal-fired power plants. The study shows, when climate change costs and other health impacts were factored in, that it is even more cost effective to convert an existing coal-fired power plant with a wind turbine, than it is to keep the old fossil fuel-burning plant.

Unsubsidized renewable energy is now cheaper than electricity from coal and gas power stations in Australia as well. Wind farms in Australia can produce energy at AU$80/MWh. Meanwhile, coal plants are producing energy at AU$143/MWh and gas at AU$116/MWh. And the myth that alternative energy sources were enormously more costly than the typical fossil fuels, is proving to be untrue. And after initial investment costs are waged, making them now ameliorated, and the raw materials for solar and wind power are free, besides costs of upkeep, and the harvesting of those sources doesn’t cause mayhem to the environment. Making it an ever-more appealing alternative energy source.

“The perception that fossil fuels are cheap and renewables are expensive is now out of date… The fact that wind power is now cheaper than coal and gas in a country with some of the world’s best fossil fuel resources shows that clean energy is a game changer which promises to turn the economics of power systems on its head,” – Michael Liebreich, chief executive of Bloomberg New Energy Finance.

In lead author Laurie Johnson’s Blog 17 September 2013, New Study: Clean Energy Least Costly to Power America’s Electricity Needs, Continue reading →

Fossil Free Valdosta

Fossil Free Valdosta, a facebook page just launched by members of S.A.V.E. (Students Against Violating the Environment), under VSU’s new solar canopy:

A student campaign calling on Valdosta State University to freeze any new investments in the fossil fuel industry immediately and divest within the next five years.

You can help divestment by signing their petition. That will help VSU stop wasting investments on fossil fuels while solar stocks skyrocket. And that will help undermine the political power of the fossil fuel industry. After all, all our investments are political, and there’s nothing neutral about investing in climate wreckage.

-jsq

Divest VSU of fossil fuels –petition

The divestment movement has come to VSU, thanks to Danielle Jordan and SAVE! -jsq

Petition: Divest Valdosta State From Fossil Fuels

To: VSU Administration and VSU Board of Trustees

We are asking Valdosta State University to:

  1. Disclose information on its investments
  2. To divest its holdings from fossil fuels within 5 years
  3. Freeze any new investments in the fossil fuel industry immediately

Why is this important?

As climate change progresses, we become more aware of the hazardous consequences that manifest in relation to a warming planet. We understand that in order to combat the issue, we have to alter our daily practices. However. the lobbying power of the major fuel companies has diminished the voices and power of individuals within our political system. Subsequently, policy has been written to favor the interests of the companies benefiting from the exploitation of our environment.

We are asking Valdosta State to distance itself from this industry and pursue alternatives, knowing that if we wish to address climate change, a collaborative effort must be made. By joining this movement, we can create a more ethical campus and move in the direction of sustainability.

Southern Company missed earnings on Kemper Coal but Plant Vogtle is dominant

The dominant financial consideration is “what’s going to happen with Georgia”, meaning with nuclear Plant Vogtle, said SO CEO Tom Fanning, referring to the GA PSC CWIP monitoring hearings currently in progress. Meanwhile, that $160 million estimate 2 July 2013 of more Kemper Coal cost overruns by 30 July turned into $278 million after taxes (AP). This is on top of $333 million after taxes in May. SO earnings fell 52% (WSJ), missing projections, and SO stock dropped 2% yesterday.

Remember GA PSC Tim Echols already suggested a Plant Vogtle cost overrun cap similar to the one Mississippi PSC applied to Kemper Coal that caused SO to have to eat all those costs. If that happens, SO’s got financial problems.

Has SO seen the solar light yet, as in reliable, dependable, and deployable on time and on budget? Nope. Solar was tacked onto the end of Tom Fanning’s summary of interesting stuff in the 31 July 2013 earnings call: Continue reading →