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| Could planting a trillion trees stop global heating? This man thinks so |
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Posted by: superadmin - 10-29-2021, 11:24 AM - Forum: Environment Protection News
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In 2017, Yishan Wong was ready to retire in Hawaii after leaving behind his career in Silicon Valley. The CEO of Reddit until 2014, Wong had previously held senior positions at Facebook and PayPal. But then came what he calls the “moment” when he decided he was going to take on the climate crisis instead.
“I was literally on a beach trying to retire, and it was too hot,” he said. Temperatures in Hawaii at the time were abnormally high, and he thought: “The planet has a climate change problem. I need to solve it.”
Wong started looking for “the most cost-effective per unit way” of removing CO2 from the atmosphere. After digging into climate science papers, he settled on his solution: trees.
In 2019, he founded Terraformation, with the aim to help reforest 3bn acres of degraded land around the world – an area bigger than the US – which Wong estimates could hold a trillion trees. He believes these forests could absorb enough CO2 to halt global heating.
Reaching net zero by 2050 means drastically reducing emissions, but to achieve this goal within such a short timeframe, and keep global heating within 1.5C, means also figuring out how to remove carbon from the atmosphere. An estimate by the Intergovernmental Panel on Climate Change envisions the removal of 730bn metric tons of CO2 this century.
Carbon-removal technology – sucking carbon from the air and then storing or using it – is one way to do this but is expensive and will take time to scale up. The International Energy Agency estimates that these technologies absorb about 40m metric tons of carbon a year. Trees, on the other hand, collectively absorb about 7.6bn metric tons a year – more than the annual emissions of the US – even after accounting for the emissions released by deforestation, wildfires and other causes.
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| European Investment Bank to end all loans to oil and gas firms |
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Posted by: superadmin - 10-29-2021, 11:20 AM - Forum: Environment Protection News
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The European Investment Bank (EIB), the lending arm of the EU, has vowed to close a loophole that allows it to lend money to oil and gas firms despite a ban on financing fossil fuel projects.
The EIB, the world’s largest multilateral bank, which is active in 160 countries, announced in 2019 it was phasing out lending to fossil fuel projects within two years, as it sought to become a “climate bank”.
Although the move was welcomed as a victory for the climate movement, campaign groups said the bank had failed to close several loopholes.
Now the lender has acted to close one inconsistency with the bloc’s climate goals.
From 2022 onwards, the EIB will stop lending to polluting companies that want to finance low-carbon projects. This would mean, for example, the EIB will no longer finance an oil company’s wind energy project. All recipients of EIB loans will be required to draw up decarbonisation plans.
“At the EIB group, we have heard the warnings,” said its president Werner Hoyer, as the decision was published days ahead of the start of Cop26.
“As one of the leading multilateral banks for climate action, we are further increasing our climate ambition,” the bank said in a statement.
“In general, EIB will no longer finance standard low-carbon projects of high-emitting corporations if the corporation continues to operate or invest in activities that are not aligned with the goals of the Paris agreement.”
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| Umno, PAS team up for Melaka polls |
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Posted by: superadmin - 10-29-2021, 11:09 AM - Forum: Politics
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KUALA LUMPUR – Umno will continue its political cooperation with PAS in contesting for the upcoming Melaka election, said Umno secretary-general Datuk Seri Ahmad Maslan.
He said the Umno Supreme Council during a meeting last night agreed this is in line with Umno’s aim to consolidate the Muafakat Nasional pact, which was decided during its 2020 Umno General Assembly.
The decision, he said, was made during the meeting chaired by Umno president Datuk Seri Ahmad Zahid Hamidi.
However, he said, PAS will be using its own party logo during the upcoming polls.
“The basis of the cooperation with PAS is guided by the principle that PAS will use its own party symbol in line with the spirit and resolutions made by the Muafakat Nasional Consultative Committee on October 19 and November 18 last year,” Ahmad said in a statement.
“This is to avoid clashes with each other, and at the same time, maintain the use of our respective party logos in the election.”
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| Climate change: Major US oil companies face grilling by Congress |
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Posted by: superadmin - 10-29-2021, 11:03 AM - Forum: Environment Protection News
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Top oil executives have appeared before US lawmakers to face allegations they misled the public about climate change.
Major producers were quizzed about the impact of the fossil fuels they profit from and their environmental toll.
The hearing on Thursday, which Democrats hailed as historic, marked the first time oil bosses had answered questions publicly and under oath.
The six-hour session saw some heated exchanges, with firms such as BP and Shell facing tough questions.
"Some of us actually have to live the future that you are all setting on fire for us," Democratic Congresswoman Alexandria Ocasio-Cortez said.
But the executives of Exxon Mobil, Chevron, BP and Shell repeatedly spoke about their efforts to transition to clean energy and denied misleading the public.
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| US vs. China: How the world's two biggest emitters stack up on climate |
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Posted by: superadmin - 10-29-2021, 10:54 AM - Forum: Environment Protection News
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(CNN)China and the United States are the world's two biggest greenhouse gas emitters, so any attempt to address the climate crisis will need to involve deep emissions cuts from these two powerhouse nations.
China's emissions are more than double those of the US, but historically, the US has emitted more than any other country in the world.
There are many factors to consider when judging a country's climate credentials, and as leaders gather in Glasgow, Scotland for COP26 from Sunday, the US' and China's plans will be in the spotlight.
Here's how the two stack up against each other.
In 2006, China overtook the US as the world's biggest emitter of carbon dioxide (CO2) -- the most abundant greenhouse gas in the atmosphere.
In 2019, the last year before the pandemic hit, China's greenhouse gas emissions were nearly 2.5 times that of the US', and more than all the world's developed countries combined, according to an analysis from Rhodium Group.
In terms of CO2-equivalent -- which is a way of measuring all greenhouse gases as if they were CO2 -- China emitted 14.1 billion metric tons in 2019. That's more than a quarter of the world's total emissions.
By contrast, the US was responsible for 5.7 billion tons, 11% of total emissions, followed by India (6.6%) and the European Union (6.4%).
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| These World Heritage Forests have gone from removing carbon to emitting it |
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Posted by: superadmin - 10-28-2021, 09:13 PM - Forum: Environment Protection News
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These World Heritage Forests have gone from removing carbon from the atmosphere to emitting it
(CNN)Human activity and climate change-fueled disasters have turned 10 of the planet's internationally recognized forests, also known as World Heritage sites, from carbon absorbers into carbon emitters, researchers have found.
The report from UNESCO found these sites can absorb approximately 190 million tons of carbon dioxide from the atmosphere each year -- roughly half the amount of the United Kingdom's annual fossil fuel emissions.
But in the past 20 years, many of these sites showed an increase in emissions, some even exceeded how much carbon they were removing from the atmosphere.
UNESCO researchers said two main factors are causing forests to flip from sinks to sources: climate change-fueled extreme weather events including wildfires, storm and drought; and human land-use pressures such as illegal logging, wood harvesting and agricultural practices such as livestock grazing.
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| Banks must ‘make good’ on customers’ funds lost to fraud: BNM |
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Posted by: superadmin - 10-28-2021, 09:06 PM - Forum: Business. Economy and Investment
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KUALA LUMPUR – Banks are obliged to reimburse funds lost to fraudulent transactions that were not due to the fault of the affected customers, Bank Negara Malaysia (BNM) has indicated.
Responding to the case of a customer relations manager allegedly siphoning millions in clients’ savings, the central bank said it may also take additional supervisory and enforcement actions on the financial institution if warranted.
“Banks will make good on monies that are lost due to fraudulent transactions not attributed to depositors,” it said in a statement to The Vibes.
“In this regard, BNM will ensure that this incident is addressed promptly and fairly.”
On Monday, Bukit Aman Commercial Crimes Investigation Department director Datuk Mohd Kamarudin Md Din had said seven police reports have been lodged over criminal breach of trust (CBT) involving at least RM4 million allegedly embezzled by a bank’s customer relations manager.
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| Deputy minister admits certain parties politicising Timah issue |
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Posted by: superadmin - 10-28-2021, 09:03 PM - Forum: Politics
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KUALA LUMPUR – Timah whiskey did not face any public or government opposition when it was registered in 2019, but only came into the spotlight after certain parties politicised the issue, the Dewan Rakyat was told.
This was the admission made by Deputy Domestic Trade and Consumer Affairs Minister Datuk Rosol Wahid when responding to questions raised by lawmakers today.
He added that the whiskey brand was registered for trademark with the Intellectual Property Corporation of Malaysia (MyIPO) a few years ago, following which its application was displayed in the public sphere for two months.
“However, there was no objection made to the name then. This means that, by law, the name is valid. However, there was a bit of havoc and concern recently, and I agree that certain people are taking advantage.
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| Pandora Papers case needs swift govt action – Transparency International Malaysia |
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Posted by: superadmin - 10-28-2021, 08:58 PM - Forum: Politics
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TRANSPARENCY International Malaysia (TI-M) urges the government, helmed by Datuk Seri Ismail Sabri Yaakob, to keep its focus on the reform agenda and the ultimate goal of the National Anti-Corruption Plan – fighting corruption to ensure economic prosperity for the nation.
In doing so, TI-M implores the government to demonstrate its will and commitment in this regard by taking appropriate and immediate action within its jurisdiction on the information revealed in the Pandora Papers.
The government must distance itself from – and take stern action against – all individuals and organisations involved in corruption, money laundering, capital flight, and possible misuse of public funds such as that revealed in the 1Malaysia Development Bhd mega scandal.
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