Disclaimer. After nearly 40 years managing money for some of the largest life offices and investment managers in the world, I think I have something to offer. These days I'm retired, and I can't by law give you advice. While I do make mistakes, I try hard to do my analysis thoroughly, and to make sure my data are correct (old habits die hard!) Also, don't ask me why I called it "Volewica". It's too late, now.

BTW, clicking on most charts will produce the original-sized, i.e., bigger version.

Thursday, June 19, 2014

Biggest fall in Greenhouse Gas Emissions in 24 Years

Alas, just in Australia.  And only 0.8% in total.  Still, better than nothing.  But electricity related carbon emissions fell 5%.  Clearly, the Carbon Tax is working.  And equally clearly, it's not enough (petrol and diesel for example are excluded)  Equally clearly, the economic catastrophe The Cane Toad forecast hasn't happened.

Australia posted its biggest annual reduction in greenhouse gas emissions in 24 years of records in 2013 as the carbon tax helped drive a large drop in pollution from the electricity sector.
The latest greenhouse gas inventory, released online without fanfare by the federal government, showed annual emissions excluding changes in land use were estimated at 538.4 million tonnes of carbon-dioxide equivalent in 2013, down 0.8 per cent on the previous year.

Read more here.

Emmissions need to fall GLOBALLY by 2.5% per annum.  This would lead to a fall on 40% over 20 years, still too slow, but a huge improvement on the current trends.

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