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Climate

AM Briefing: Peak Coal?

On global coal demand, Everest Base Camp, and a compelling climate graphic

AM Briefing: Peak Coal?
Heatmap Illustration/Getty Images

Current conditions: A major storm will batter the U.S. Eastern Seaboard this weekend • Moscow is buried under record snowfall • It's 50 degrees Fahrenheit and cloudy in Paris, which was recently named the world's top city destination.

THE TOP FIVE

1. IEA: Coal demand remains high, but could peak soon

Global demand for coal remains at a record high, but is expected to start declining in 2026, according to the International Energy Agency’s (IEA) “Coal 2023” report. Most advanced economies are ditching this dirtiest of fossil fuels: Coal consumption fell by about 20% in the United States and the European Union this year. But the same cannot be said for China, India, and Southeast Asia, where coal demand is growing. But a turning point could arrive soon, the report says. Global coal demand is expected to fall by 2.3% by 2026 compared with 2023 levels. A lot depends on China, which accounts for 54% of global coal consumption.

IEA

Relatedly, this week Australia announced its last remaining coal plant will retire by 2038. As renewables take over, “expect more such announcements around the world,” says Bloomberg Green’s Akshat Rathi.

2. White House tells federal employees to use EVs and rail travel

The Biden administration wants federal employees to use low- or zero-emission transportation when traveling for work. In a directive released yesterday, the White House said workers should travel by train for trips shorter than 250 miles, and especially in the Northeast and Mid-Atlantic, where rail travel is most accessible. If traveling by car is necessary, workers should opt for an EV. Employees should consider combining trips, taking public transportation, and avoid using their own private vehicles for work. Or better yet, they should avoid traveling at all. “In every case, the trip not taken is the least expensive and most sustainable,” the directive says. The federal government spent $1.66 billion on flights and $4.2 million on rail trips last year, Reuters reports. The White House says travel accounts for 1.8% of federal greenhouse gas emissions.

3. Al-Jaber says Adnoc will keep investing in oil and gas

Sultan Al-Jaber, who served as president of COP28, tells The Guardian that his company Adnoc will continue to invest in oil and gas production so long as the demand is there. Adnoc is the United Arab Emirates’ national oil and gas company, and Al-Jaber is its CEO. He was applauded this week after delegates at COP28 agreed to “transition away” from fossil fuels, but faced criticism earlier this month for saying there is “no science” showing that ending fossil fuel usage will limit global warming. He has said in the past that he believes fossil fuels will inevitably be phased out, but has qualified that by saying “we need to be real, serious and pragmatic about it.”

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  • 4. Glacial melting may force Everest Base Camp to relocate

    The glacier beneath Everest Base Camp is melting due to rising temperatures in the Himalayas, putting climbers at risk and forcing Nepal’s government to consider moving the camp, The Wall Street Journal reports. Everest tourism contributed $2.4 billion to Nepal’s economy last year, which is 6.1% of its GDP, and Base Camp is an essential gateway to the mountain. But ice at the camp is disappearing due to a combination of global warming and human activity. Moving the camp farther down the mountain is an option, but it would “make the climb to the top more dangerous than it already is,” the Journal explains. More people died on Mount Everest this year than ever before. A report released in June found that climate change could cause Himalayan glaciers to lose 80% of their volume this century.

    5. Earth’s rising temperature, expertly illustrated

    The European Space Agency’s (ESA) Climate Office recently announced its favorite “Little Pictures of Climate” for 2023. The competition highlights creators who use satellite-derived climate data tell visual stories about the changing planet. Here is one particularly compelling submission:

    A runner-up in the ESA's Little Pictures of Climate 2023 competitionESA

    THE KICKER

    The length of pipeline that would be needed to create a U.S. carbon capture network would be enough to circle Earth four times.

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    Energy

    Democrats Should Embrace ‘Cleaner’ LNG, This Think Tank Says

    Third Way’s latest memo argues that climate politics must accept a harsh reality: natural gas isn’t going away anytime soon.

    A tree and a LNG boat.
    Heatmap Illustration/Getty Images

    It wasn’t that long ago that Democratic politicians would brag about growing oil and natural gas production. In 2014, President Obama boasted to Northwestern University students that “our 100-year supply of natural gas is a big factor in drawing jobs back to our shores;” two years earlier, Montana Governor Brian Schweitzer devoted a portion of his speech at the Democratic National Convention to explaining that “manufacturing jobs are coming back — not just because we’re producing a record amount of natural gas that’s lowering electricity prices, but because we have the best-trained, hardest-working labor force in the history of the world.”

    Third Way, the long tenured center-left group, would like to go back to those days.

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    Green
    AM Briefing

    The Nuclear Backstop

    On Equinor’s CCS squeamishness, Indian solar, and Orsted in Oz

    A nuclear power plant.
    Heatmap Illustration/Getty Images

    Current conditions: A foot of snow piled up on Hawaii's mountaintops • Fresh snow in parts of the Northeast’s highlands, from the New York Adirondacks to Vermont’s Green Mountains, could top 10 inches • The seismic swarm that rattled Iceland with more than 600 relatively low-level earthquakes over the course of two days has finally subsided.

    THE TOP FIVE

    1. New bipartisan bill aims to clear nuclear’s biggest remaining bottleneck

    Say what you will about President Donald Trump’s cuts to electric vehicles, renewables, and carbon capture, the administration has given the nuclear industry red-carpet treatment. The Department of Energy refashioned its in-house lender into a financing hub for novel nuclear projects. After saving the Biden-era nuclear funding from the One Big Beautiful Bill Act’s cleaver, the agency distributed hundreds of millions of dollars to specific small modular reactors and rolled out testing programs to speed up deployment of cutting-edge microreactors. The Department of Commerce brokered a deal with the Japanese government to provide the Westinghouse Electric Company with $80 billion to fund construction of up to 10 large-scale AP1000 reactors. But still, in private, I’m hearing from industry sources that utilities and developers want more financial protection against bankruptcy if something goes wrong. My sources tell me the Trump administration is resistant to providing companies with a blanket bailout if nuclear construction goes awry. But legislation in the Senate could step in to provide billions of dollars in federal backing for over-budget nuclear reactors. Senator Jim Risch, an Idaho Republican, previously introduced the Accelerating Reliable Capacity Act in 2024 to backstop nuclear developers still reeling from the bankruptcies associated with the last AP1000 buildout. This time, as E&E News noted, “he has a prominent Democrat as a partner.” Senator Ruben Gallego, an Arizona Democrat who stood out in 2024 by focusing his campaign’s energy platform on atomic energy and just recently put out an energy strategy document, co-sponsored the bill, which authorizes up to $3.6 billion to help offset cost overruns at three or more next-generation nuclear projects.

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    Green
    Adaptation

    This New Wildfire Risk Model Has No Secrets

    CarbonPlan has a new tool to measure climate risk that comes with full transparency.

    A house and flames.
    Heatmap Illustration/Getty Images

    On a warming planet, knowing whether the home you’re about to invest your life savings in is at risk of being wiped out by a wildfire or drowned in a flood becomes paramount. And yet public data is almost nonexistent. While private companies offer property-level climate risk assessments — usually for a fee — it’s hard to know which to trust or how they should be used. Companies feed different datasets into their models and make different assumptions, and often don’t share all the details. The models have been shown to predict disparate outcomes for the same locations.

    For a measure of the gap between where climate risk models are and where consumers want them to be, look no further than Zillow. The real estate website added a “climate risk” section to its property listings in 2024 in response to customer demand only to axe the feature a year later at the behest of an industry group that questioned the accuracy of its risk ratings.

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