What Moody’s is telling the business and financial community about climate change and the implied financial risks (Four Twenty Seven – an affiliate of Moody’s). This paper covers all the important considerations that Moody’s is now incorporating into its credit ratings, in a manner that will have to be taken seriously by the entire community. Every business operation will need to inform its investors about how it is now responding to these threats and making appropriate plans for the future. Anyone who reads this report can learn quite a bit about what climate science has to say, and regular updates are to be expected. The scientific content is persuasive enough for even the most conservative listeners to start taking these matters seriously. It will not be easy for the Trump administration to do anything but fall in line. http://427mt.com/wp-content/uploads/2019/12/Demystifying-Scenario-Analysis_427_2019.pdf
Amy Harder, writing for Axios, describes how economics, politics and climate change are now converging into a major movement. “To what degree the current economic status quo of corporate profits becomes threatened seriously enough that businesses really start to lobby Congress for new policy. Big action on climate change is never going to come from pure altruism or activism; an existing economic reason must exist too.” (And is indeed happening.) https://www.axios.com/climate-change-business-politics-public-action-41150a96-21ec-45db-9df8-f4c7e10324cc.html
Effects of climate change were involved in the recent decision by the Atomic Scientists to advance their Doomsday Clock closer to midnight (The Hill). The author of this story learned that the tensions in recent years, in two different regions, both rooted in conflicts involving climate disasters, have escalated concerns over the possibility of a nuclear outbreak. “The current humanitarian crisis in Syria is playing out as the first climate war in history, bringing the nuclear armed nations of the United States and Russia into direct conflict. Similarly, the ongoing conflict between India and Pakistan over the disputed Kashmir territory is further heightened over water access from the shared Indus River and its tributaries flowing between the two nuclear armed states. This is a potential flashpoint for the world as agriculture is threatened either by water scarcity from drought, potential damming, or severe flooding during the monsoon seasons with potential crop loss and starvation.” He also notes that much greater climate disasters would follow even a small exchange, this time on a global scale.
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The decline of Arctic sea ice causes a chain reaction that results in more warm water flowing from the Atlantic into the Arctic Ocean (Geophysical Research Letters). The result can only contribute to a still higher rate of thinning and melting of the sea ice. A new study contains a brief summary of the sequence of steps that make it happen.
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Researchers have found a way to convert solar energy into hydrogen with extremely high efficiency (The Ohio State University). “Scientists for the first time have developed a single molecule that can absorb sunlight efficiently and also act as a catalyst to transform solar energy into hydrogen, a clean alternative to fuel for things like gas-powered vehicles. This new molecule collects energy from the entire visible spectrum, and can harness more than 50% more solar energy than current solar cells can.” There is more work to be done, but the goal of making hydrogen more fully competitive with oil and gas to meet many kinds of energy demand seems to be getting closer every day.
Carl