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Clean/Green Investments, Environmental demands
blacksheep
post Posted: Dec 1 2019, 01:36 PM
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Greece eyes 44 billion euros in investment in switch to cleaner energy

QUOTE
A gameplan approved by the cabinet on Thursday showed Greece will try to reduce its carbon footprint by more than 55 percent by 2030 compared with 2005, and would close down all its coal-fired power plants in the next eight years.

Wind, solar and hydroelectric power should account for at least 35 percent of energy consumption by then, up from about 15 percent in 2016, with investments worth about 9 billion euros. Other investments include natural gas networks and in recycling projects.


read more - https://www.reuters.com/article/us-climate-...y-idUSKBN1Y223H



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 14 2019, 02:59 PM
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Posts: 6,791
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Sweden dumps Aussie bonds as country 'not known for good climate work'
QUOTE
Sweden's central bank has sold off bonds from parts of Australia and the oil-rich Canadian province of Alberta because it felt that greenhouse gas emissions in both countries were too high.

Riksbank Deputy Governor Martin Floden said on Wednesday the bank would no longer invest in assets from issuers with a large climate footprint, even if the yields were high.

"Australia and Canada are countries that are not known for good climate work," Mr Floden said in a speech on "Monetary policy in a changing world" at Orebro University in Sweden.

"Greenhouse gas emissions per capita are among the highest in the world."

As a result of the new investment policy, we sold our holdings of bonds issued by Alberta in the spring.

"For the same reason, we have recently sold our holdings in bonds issued by the Australian states of Queensland and Western Australia."

Mr Floden, who did not give details, said Sweden had invested around 8 per cent of its foreign exchange reserves in various kinds of Australian and Canadian bonds.


QUOTE
Bank of England Governor Mark Carney said in September that the financial sector had to transform its management of climate risk, warning that global warming would prompt reassessments of the value of every single financial asset.

"Central bankers aren't your typical tree huggers, so [...] politicians should take note when they start blacklisting government bonds over climate concerns," Keith Stewart, senior energy strategist with Greenpeace Canada, said in an email on Wednesday.


read more - https://www.smh.com.au/business/markets/swe...114-p53agw.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 30 2019, 01:36 PM
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Posts: 6,791
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Rio Tinto says miners need to do more on the environment. Here’s how
Reuters | October 29, 2019
QUOTE
The boss of one of the world’s biggest mining companies wants the industry to do more than talk about winning a social licence in an increasingly carbon constrained world. The problem is that his company and others probably won’t like the solutions.

Rio Tinto Chief Executive Jean-Sebastien Jacques told the London Metal Exchange (LME) annual forum on Monday that mining needed to do more on the environmental, social and corporate governance (ESG) front in order to remain relevant and profitable as the world deals with climate change.

“Lots of people are talking about it, but I’m not sure there is action,” Jacques said.

Notwithstanding that Jacques himself was talking about it, he is probably correct that the mining industry, and more broadly the natural resources sector, has yet to fully get to grips with how the industry will look in the next 20-30 years.


QUOTE
Mining companies should be prepared to fully disclose the exact amount of carbon released for each tonne of material produced, and then go even further by disclosing the amount of carbon generated in turning a raw material such as iron ore into steel.

Jacques talked of a future in which there is an app that would allow consumers to see how carbon was emitted in the production of each product they buy.

It’s not beyond the realms of possibility that eventually all products will have to disclose their carbon footprint, similar to the way food is currently labelled to show the breakdown of energy content, as well as fats, proteins and carbohydrates.


read more - https://www.mining.com/web/rio-tinto-says-m...es-how-opinion/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 30 2019, 01:31 PM
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Posts: 6,791
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Green aluminum, coming soon to a metals-trading desk near you
Bloomberg News | October 29, 2019

QUOTE
Aluminum and the climate movement have a complicated relationship. The lightweight metal used in cars, airplanes and drinks cans is touted as a green alternative, yet it’s the most carbon-intensive industrial metal to produce.

As investors and consumers zero in on polluting industries, and pressure intensifies on manufacturers to source materials responsibly, the aluminum industry may be headed for a schism, with the potential for a separate, premium market in metal that claims “clean” status.


QUOTE
Some commodities traders are already positioning themselves for a shift. Trafigura Group has set up a dedicated green-aluminum trading desk, betting that climate pressure will revolutionize the aluminum industry by splitting it in two. Metals trader Concord Resources Ltd. is also pushing into green aluminum, said CEO Mark Hansen.

“Five years ago there was very little discussion or care about the power source of the aluminum smelter,” said Hansen. “Today it is becoming very loud and very relevant.”


read more - https://www.mining.com/web/green-aluminum-c...-desk-near-you/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 26 2019, 02:36 PM
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Posts: 6,791
Thanks: 2304


In Reply To: blacksheep's post @ Oct 26 2019, 02:28 PM

Miners face ‘tsunami’ on environmental, social, governance front
Northern Miner Staff | October 25, 2019

QUOTE
The next generation of mining leaders will arrive with a “tsunami” of environmental, social and governance (ESG) concerns, says Claudia Mueller, associate director of the Global Mining Management program at the Schulich School of Business.

Mueller joined a panel of experts in October to discuss ESG issues at The Northern Miner’s third annual Progressive Mine Forum in Toronto. In recent years, she has seen a “tremendous increase” in questions about ESG from the youth who will run tomorrow’s mining companies.

ESG criteria is a set of operating standards used by socially conscious investors to screen potential investments concerning stewardship of the natural environment, stakeholder management (including local communities, employees and suppliers) and corporate governance (compensation, internal controls, shareholder rights, etc.).

“We have seen a paradigm shift in ESG interest over the last two or three years,” says Sam Pazuki, OceanaGold’s (TSX: OGC) vice-president of investor relations. “Based on our estimates there are about $25 trillion of investments under management, globally, with investors who consider themselves to be socially responsible investors.”


read more - https://www.mining.com/miners-face-tsunami-...vernance-front/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Oct 26 2019, 02:28 PM
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Posts: 6,791
Thanks: 2304


Metals sector in costly battle to turn green
Reuters | October 25, 2019
QUOTE
Metals producers, from miners to smelters, are grappling with increasingly tough and costly environmental demands imposed by banks seeking cleaner investments.

While the transition may prove overwhelming for smaller producers, larger companies are playing a long game, casting ahead to a period where greener technology helps slash their costs.

Sustainability has been a long-standing issue in metals, covering a wide range of issues including corruption, board structure, jobs, communities around mines and mine waste.


QUOTE
Huge investment needed
The metals and mining industry will need around $240 billion of investment over the next decade to produce key base metals and gold, according to consultancy Wood Mackenzie.

More funding, however, is conditional on meeting environmental, social and governance (ESG) guidelines, burdening operators with extra investment.

“You may have to take another 25% to create the right societal engagements and environmental designs,” said Simon Morris, global head of metals at Wood Mackenzie.

“So will investors accept lower returns? I think it’s probably causing a bit of head scratching around the industry in this tug-of-war of priorities,” added Morris, who formerly worked for global miner Rio Tinto plc.

Bigger metals groups have the financial bulk to absorb the higher investment.

BHP Group , the world’s biggest miner, signed four renewable energy contracts earlier this month to supply all its Chilean copper operations from 2021.

But the new contracts came at a price – BHP took a provision of about $780 million related to the cancellation of existing coal contracts.

Such costs are more challenging for smaller companies.

“The problem for these companies is raising sufficient funds to build the mine,” said analyst John Meyer at boutique investment bank SP Angel. “To add another $50 to $100 million to put in a solar power plant is quite difficult.”

Long term cost benefits

In many cases, bringing mines in line with environmental standards is moving hand-in-hand with new technologies that will boost efficiency and cut operating costs in the long term.

Large mining groups like BHP and Anglo American are investing in solar power, automation and water-saving technologies, betting that substantial up-front investment will both burnish their green credentials and raise efficiency.

“Following sustainability goals doesn’t necessarily equate to an increase in costs,” said Rachael Bartels, senior managing director at consultancy Accenture.

Although BHP had to take a big hit to cancel its coal contracts in Chile, the group says the new renewable power contracts, beginning in 2021, will cut energy costs by 20%.

Replacing diesel generators with electric motors in new underground mines could cut upfront costs by about a third because it cuts out ventilators that extract the diesel fumes, a study by EY found.

Anglo American has been testing new mining processing technology in Chile that is expected to lift productivity by as much as a third and could also slash capital costs for new mines.

Capital intensity, ratio of initial capital expenditure to annual production capacity, for new copper mines has tripled over the past 36 years to about $18,000 per tonne, according to Morgan Stanley.

But Anglo’s new technology has the potential to almost slice capital intensity in half below $10,000 a tonne, the bank said in a note.

Anglo declined to release capital intensity figures, but said in an email the new technologies were “game-changers” in terms of both the environmental footprint and costs.

(Additional reporting by Pratima Desai; editing by David Evans)

https://www.mining.com/web/metals-sector-in...-to-turn-green/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
 



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