Green Lights Oct. 27: Top stories this week
Don't miss a single story of the best from Callaway Climate Insights
. . . . Welcome to Green Lights, our weekly roundup of the best of Callaway Climate Insights. This week at the Dublin Climate Summit, David Callaway talks to climate leaders about the chances for change at the upcoming COP28 UN climate event in Dubai. Plus, Mark Hulbert looks at the painful collapse in clean tech stocks. Here are the highlights in a simple and convenient format that makes it easy for our readers. It’s also easy to subscribe.
. . . . With a Middle East regional war brewing and following two of the biggest oil mergers in history in the past few weeks, David Callaway asked Irish Climate Minister Eamon Ryan at the Dublin Climate Summit this week about what chance he and other delegates to COP28 have of agreeing on a phase-out of fossil fuels at the climate event in Dubai next month. “It’s not looking good,” Ryan said, noting some of the frustrations of forging international consensus among COP delegates at these summits despite the urgency of climate change. “You listen to the science tell us we have five or 10 years and then you go back into the (negotiating) room and start rattling about some comma.”
. . . . California Gov. Gavin Newsom has been in Beijing, meeting on Wednesday with President Xi Jinping (above), followed by the issuance of a declaration pledging to work together, including on such matters as offshore wind (where China is a leader and California a laggard), energy storage and electric vehicles. Matthew Diebel writes it could be a big win on the side of engagement.
. . . . The collapse of clean tech stocks this year is real and painful, but it’s not akin to the Internet bubble 25 years ago or the great financial crisis a decade ago, writes Mark Hulbert. Poring over the research of Lucas White, lead portfolio manager for Resources and Climate-Change strategies at Jeremy Grantham’s firm GMO, Hulbert follows the argument that while high rates and supply chain costs have hit the balance sheets of wind and solar companies this year, those balance sheets were mostly strong to begin with — unlike in past crises. He finds that for some stocks in particular, oversold conditions create an interesting value proposition.
. . . . In every bear market there is a bottom that most investors miss, usually marked by a headline, speech of some kind or bold proclamation that claims this time the end has finally arrived. For the bear market in clean tech stocks in the past year, that moment might have finally arrived, David Callaway writes.
. . . . Some extraordinary temperature contrasts have been observed recently in Europe, including a new seasonal low of -23°C. (-9.4°F.) at Nattavaara (Lapland) in Sweden. At the opposite end of the thermometer, “absurd” heat was measured in the east. Temps of 34°C. (93.2°F.) in Turkey and Cyprus with overnight lows of 25°C. in Greece. The anomalies were brutal near the Black Sea,” according to X (Twitter) account Extreme Temperatures Around the World (climatologist and weather historian Maximiliano Herrera).
More greenery . . . .
Costumes and candy: Waste less and have a happy Halloween (USA Today)
Keeping an eye on the sea level: Rapid melting in West Antarctica is ‘unavoidable.’ (CNN)
Will the bears follow? Climate Change Is Pushing Salmon North in Alaska (Smithsonian)
We wouldn’t be the first: Climate change and the collapse of the Roman Empire and 7 other ancient civilizations (Insider)
What’s in your compost? Household food waste is a problem for the planet (The Atlantic)
Winter forecast: A warmer north, wetter south because of El Nino (NPR)