Bulgaria accused of illegal aid to fossil fuel power providers

LONDON/SOFIA (Reuters) – Bulgaria has given 1.3 billion euros ($ 1.5 billion) in illegal aid to coal-fired and other power plants, according to a complaint filed with the European Commission by London-based lawyers ClientEarth on Thursday.


Reuters: Environment

Norway’s $950 billion wealth fund commissions research on climate change

OSLO (Reuters) – The research arm of Norway’s sovereign wealth fund has awarded grants for two projects on how climate change affects the economy and capital markets, it said on Friday.


Reuters: Environment

Leaked: UK £7 billion export credit for fossil fuel industry violates ‘clean energy’ pledge

Between 2011 and 2016 the UK’s export finance agency UKEF provided £109m to underwrite exports of equipment to coal mines in Russia, writes Lawrence Carter – despite the agency’s commitment not to support ‘investment in dirty fossil-fuel energy production’. And that’s just a fraction of the £6.9 billion UKEF has lavished on the corrupt, polluting sector since 2000, while it was meant to be backing the clean energy technologies of the future.
Environment news & analysis, climate change reports –
The Ecologist

Peru’s president says flood recovery may cost up to $9 billion

LIMA (Reuters) – The reconstruction of areas of Peru hit by severe floods in recent months will cost $ 3 billion in the short term, and up to $ 9 billion over five years, the country’s president, Pedro Pablo Kuczynski, said in a radio interview on Friday.


Reuters: Environment

Diamond's 2-billion-year growth charts tectonic shift in early Earth's carbon cycle

A study of tiny mineral ‘inclusions’ within diamonds from Botswana has shown that diamond crystals can take billions of years to grow. One diamond was found to contain silicate material that formed 2.3 billion years ago in its interior and a 250 million-year-old garnet crystal towards its outer rim, the largest age range ever detected in a single specimen. Analysis of the inclusions also suggests that the way that carbon is exchanged and deposited between the atmosphere, biosphere, oceans and geosphere may have changed significantly over the past 2.5 billion years.

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Retroviruses 'almost half a billion years old'

Retroviruses – the family of viruses that includes HIV – are almost half a billion years old, according to new research by scientists at Oxford University. That's several hundred million years older than previously thought and suggests retroviruses have ancient marine origins, having been with their animal hosts through the evolutionary transition from sea to land.

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Texas $1 billion carbon project to curb emissions, up oil recovery

THOMPSONS, Texas (Reuters) – NRG Energy Inc and JX Nippon Oil & Gas Exploration Corp said on Tuesday they had begun operations at a $ 1.04 billion carbon capture facility at a Texas coal-fired power plant and were using the emissions to extract crude from a nearby oilfield.


Reuters: Environment

Volkswagen investors seek $9 billion in damages over emissions scandal: court

BERLIN (Reuters) – Volkswagen faces 8.2 billion euros ($ 9.1 billion) in damages claims from investors over its emissions scandal in the legal district where the carmaker is based, a German court said on Wednesday.


Reuters: Environment

WIPP nuclear waste accident will cost US taxpayers $2 billion

The clean-up after the February 2014 explosion at the world’s only deep underground repository for nuclear waste in New Mexico, USA, is massively over budget, writes Jim Green – and full operations won’t resume until at least 2021. The fundamental cause of the problems: high level radioactive waste, poor regulation, rigid deadlines and corporate profit make a dangerous mix.
Environment news & analysis, climate change reports –
The Ecologist

Air Pollution: The Billion Dollar Industry

The World Bank has released a new report highlighting the fact that air pollution costs world governments billions upon billions every year and ranks among the leading causes of death worldwide.

The estimates — drawn from a number of sources, including the World Health Organization’s most recently completed data sets compiled in 2013 — can for the first time begin to examine the overall welfare cost of air pollution.

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