#solar

Atlassian should back the Minerals Council of Australia, not knock it

Atlassian co-CEO Mike Cannon-Brookes (MCB) has apparently been on a campaign trying to get the already left-leaning board of BHP to ditch ties with groups like the Minerals Council of Australia. But why?

CM believes that nothing shows the prosecution of a cause than leading from the front. MCB should use the might of Atlassian’s $32 bn market cap and seek to buy a controlling stake in BHP whereby it can behave like an activist shareholder and achieve those goals from within. A bit rich to demand a company like BHP fold to the whims of another listed corporate which has no direct business with it. That would be terrible governance for BHP to pay MCB any mind.

How would MCB react if BHP CEO Andrew Mackenzie turned around and demanded that Atlassian cut ties with ANZ for being embroiled in the Hayne Banking Royal Commission? MCB would rightly tell him to take a hike.

One doubts that MCB has much of his superannuation buried in BHP shares but why pick on the Minerals Council of Australia? After all, if he had a good look at what Australia’s mineral industry enables, Atlassian should be a backer not a knocker. Why not influence the debate by being part of it?

Here is a list of 30 things Australian minerals companies provide, including vital materials used in wind farms and solar panels, the very forms of renewable energy MCB wants Atlassian to rely on 100% to power its future. MCB’s Tesla is reliant on Aussie minerals to make the batteries. So does his smartphone, tablets, laptops and desktops. And so do the white goods that chill his food and the copper pipes that deliver hot water in his lovely mansion in Sydney. His dentist uses those minerals to maximise his oral hygiene.  The list goes on.

No one can take away the success MCB has achieved in the corporate sphere. However, it would appear that being an expert in the software world doesn’t always translate to being a sage on the environment much less hold any authority to dictate the boardroom discussions of a company that is more crucial to its existence than the other way around.

Lessons from Deutschland on why renewables are a bad idea – period

 New wind park projects face a significant amount of red tape. And then there...

The normally left of centre leaning Der Spiegel has put together two decent hit job articles on the failure of the energy transition in Germany. This is what happens when misguided altruism turns on itself and ends up costing a bomb for little result. Australia, are you listening? Germany has already done beta testing on renewables and as a culture is not renowned for doing half-baked jobs. Yet Merkel can add this to the list of failures.

Part 1 – Germany Failure on the Road to a Renewable Future

“But the sweeping idea has become bogged down in the details of German reality. The so-called Energiewende, the shift away from nuclear in favour of renewables, the greatest political project undertaken here since Germany’s reunification, is facing failure. In the eight years since Fukushima, none of Germany’s leaders in Berlin have fully thrown themselves into the project, not least the chancellor. Lawmakers have introduced laws, decrees and guidelines, but there is nobody to coordinate the Energiewende, much less speed it up. And all of them are terrified of resistance from the voters, whenever a wind turbine needs to be erected or a new high-voltage transmission line needs to be laid out.”

Germany’s Federal Court of Auditors is even more forthright about the failures. The shift to renewables, the federal auditors say, has cost at least 160 billion euros in the last five years. Meanwhile, the expenditures “are in extreme disproportion to the results,” Federal Court of Auditors President Kay Scheller said last fall, although his assessment went largely unheard in the political arena. Scheller is even concerned that voters could soon lose all faith in the government because of this massive failure.

There is also such an irony when these mad green schemes encounter scourge from animal rights groups. Former Green’s leader Bob Brown knows the feeling,

“The bird of prey [red kite], with its elegantly forked tail, enjoys strict protection in Germany…Red kites are migratory, returning from the south in the spring, but they don’t return reliably every year. The mayor would have been happy if the bird had shown up quickly so its flight patterns could be analyzed and plans for the wind park adjusted accordingly. It would have been expensive, but at least construction of the project could finally get underway.

But if the bird doesn’t return, the project must be suspended. Spies has to wait a minimum of five years to see if the creature has plans for the nest after all. Which means the wind park could finally be built in 2024, fully 12 years after the project got underway.”

Part 2 – German Failure on the Road to a Renewable Future

An additional factor exacerbating the renewables crisis is the fact that two decades after the enactment of the Renewable Energy Sources Act (EEG), 20-year guaranteed feed-in tariffs will begin expiring next year for the first wind, solar and biomass facilities. Some of those who installed solar panels back then — often farmers and homeowners — are still receiving 50 cents for every kilowatt-hour they feed into the grid. Today, larger facilities receive just 5 cents per kilowatt-hour.

The state has redistributed gigantic sums of money, with the EEG directing more than 25 billion euros each year to the operators of renewable energy facilities. But without the subsidies, operating wind turbines and solar parks will hardly be worth it anymore. As is so often the case with such subsidies: They trigger an artificial boom that burns fast and leaves nothing but scorched earth in their wake.

As Australia continues to expand the renewables portion of our power grid, the lessons from the Germans couldn’t be clearer – market distortions and misguided investments only lead to marginal results on the back of massive investment to stop something that can’t be controlled. German taxpayers have been swindled and Aussies are sleepwalking down the same path.

Bluescope to expand US plant thanks to cheap energy

Bluescope Steel Logo

Thanks to Australia’s ridiculous energy prices, Aussie company Bluescope confirmed the expansion of capacity in Ohio. In Feb 2019, the company CEO said, “much cheaper energy in the United States is a major driver of the company’s preparedness to invest in a $1 billion expansion in Ohio.”

Meanwhile, our lawmakers continue to behave as if they’re in control of power generation, pandering to pathetic ideologies instead of realities.

In 2017, Tomago Aluminium reported, “We have to grow to be competitive and to be ahead of the curve, but when the spot price went to $14,000 [per megawatt hour] we had to take that load off. It’s just not sustainable. You can’t smelt at that price. We have had to curtail or modulate the load [on occasions] or we get hammered by the price…We cannot continue to keep paying those prices. We have to find a solution. The prices are crippling”

Well done Australia. Home to the cheapest and best quality energy-producing assets around but saddled with the world’s highest prices. Beholden to being guilt-tripped into reducing CO2 levels that even if we cut to zero would have absolutely no impact on limiting global temperatures.

We only need look to Germany to see how well their renewables plan is working for them. What have the Germans done recently? Favour more electricity production from lignite (brown coal) and biomass which are the two highest emitting power generation bases. Furthermore,

“After the German government decided to reduce subsidies to the solar industry in 2012, the industry nose-dived. By this year, virtually every major German solar producer had gone under as new capacity declined by 90 per cent and new investment by 92 per cent. Some 80,000 workers — 70 per cent of the solar workforce — lost their jobs. Solar power’s market share is shrinking and solar panels, having outlived their usefulness, are being retired without being replaced.

Wind power faces a similar fate. Germany has some 29,000 wind turbines, almost all of which have been benefitting from a 20-year subsidy program that began in 2000. Starting in 2020, when subsidies run out for some 5,700 wind turbines, thousands of them each year will lose government support, making the continued operation of most of them uneconomic based on current market prices. To make matters worse, with many of the turbines failing and becoming uneconomic to maintain, they represent an environmental liability and pose the possibility of abandonment. No funds have been set aside to dispose of the blades, which are unrecyclable, or to remove the turbines’ 3,000-tonne reinforced concrete bases, which reach depths of 20 metres, making them a hazard to the aquifers they pierce.”

Canberra, please note that if you pursue common sense, voters will celebrate a reduction in power prices that current experience proves are NOT going to come through ludicrous renewable energy targets.

The teenager and her big sister

The Guardian has published a conversation between the 16yo climate activist, Greta Thunberg, who recently told a group of adults they’re just “uninformed” and Congresswoman Alexandria Ocasio-Cortez, who thinks we should go out of our way to make air travel unnecessary.

For as much as The Guardian hypes this Skype call as the intellectual version of the Jamaican men’s 4x100m Olympic sprint team, CM think it is more like Eric the Eel and Eddie the Eagle.

Despite AOC’s Green New Deal being dismissed by her own party as a “green dream” and it losing 57-0 in the Senate, The Guardian paints her as a doctorate in her field. Sadly, her younger sidekick will soon receive an honorary degree from the University of Mons in Belgium.

Anyway, the manifesto of the left is all in this conversation – the politics of envy, the evil oil lobby, the importance of tokenism and of course a 16yo telling us that she knows best.

One of the telling lines from Thunberg runs,

I saw very recent numbers, I think it was yesterday, that suggested about 2% of Sweden’s population don’t believe in the climate crisis. Here it’s not as acceptable to not believe in it. Everyone accepts that it’s a fact. But still we aren’t talking about it, and it’s not a priority. We are just treating it like any other issue.”

Two points.

First, Thunberg explains the totalitarian propaganda shaming of it “not [being] as acceptable not to believe in it

Second, any politician staring at only 2% skepticism faces next to no risks to pushing a climate agenda. Take Ireland. It too has stated a climate emergency with a glossy Climate Action Plan 2019 yet the budget papers tell the complete opposite to crisis – 0.6% of total budget spend on the environment with a cap out to 2022. Hardly the actions of an emergency mandate…

In any event Thunberg plans to travel to the UN summit in NY on September 23rd. Given she doesn’t fly she is still committed to go there. She’ll need to sail because catching an ocean liner is far more polluting than an aircraft. Having said that, her wafer thin size catching a commercial flight won’t add any net emissions to those already in the air. SH can also take solace that the Virgin Group CEO has at least muttered we should consider not to fly to save the planet instead of shutting the airline down.

The good thing is that AOC has extended every courtesy to Thunberg when she arrives. To be honest she should be thrust onto the stage at the Democrat primaries to add to the hard left tack it has already taken. He’ll, she can even claim illegal status and vote for AOC in New York, which has just joined the other 650 group thinking councils around the world to declare a “climate emergency.”

They’ll never get it

Yet another example of the lunatics within the Extinction Rebellion (XR). Printing 1000s of paper leaflets and using those evil fossil-fuel based adhesives to fasten them to public and private property. CM is reminded of the echo chamber within XR when they claimed that many corporates backed their cause with a joint letter to The Times UK. As a reminder,

“CM attaches their own published business models in brackets below. We also attach the distance of each HQ from the protest epicentre in LondonIt’s easy to say how woke you are about impacting local businesses when you’re nowhere near it. Read on

The letter to the Times

Sir, Contrary to belief, there is business support for the Extinction Rebellion (XR) agenda. The multi million-pound costs that the Extinction Rebellion protests have imposed on business are regrettable, as is the inconvenience to Londoners. But future costs imposed on our economies by the climate emergency will be many orders of magnitude greater.

Hard pressure drives change, but even the most committed businesses will need time to respond. We welcome the news that  Extinction Rebellion is evolving a new platform, XR Business, to engage business leaders, investors and advisers. To drive things forward, the idea is to convene a meeting of XR activists and experts with business leaders and influencers.

Most businesses were not designed in the context of the developing climate emergency. Hence  we must urgently redesign entire industries and businesses, using science-based targets. 

To kick start the process, businesses should make a declaration that we face a climate emergency and organise a session at a full board meeting to consider the case for urgent action. We will encourage the senior management teams of which we are part to do likewise.

Signed

Seb Beloe, partner at WHEB

(“WHEB is a positive impact investor focused on the opportunities created by the transition to a low carbon and sustainable global economy.“)

HQ Distance from XR protest: 1.3km

——

Thomas Bourne, CEO and co-founder, Greenheart Business Ltd

(“Using the B Corp framework to assess, plan for and embed positive social & environmental impact improvements within your business – from specific operational improvements through to comprehensive or transformational (i.e. business model) change.)

HQ Distance from XR protest: 337.6km

——
Amy Clarke, co-founder, Tribe Impact Capital LLC

(“We use the UN Sustainable Development Goals (SDGs) as a framework for uncovering client’s values and to measure and report portfolio performance…To facilitate this we have created four Tribe Themes…we actively select positive investments that directly contribute to global sustainable development and address a social, economic or environmental issue society is facing.)

HQ Distance from XR protest: 3.5km

——
Chris Davis, CSO, The Body Shop International Ltd

(Social activism has been a part of the Body Shop since 1986 when it proposed an alliance with Greenpeace to save the whales“Protecting and regenerating habitats is also known as ‘re-wilding’. Find out how you can help us re-wild the world and protect our animal friends by fighting against deforestation and the destruction of natural habitats.“)

HQ Distance from XR protest: 107.2km

——–

John Elkington co-founder and Louise Kjellerup Roper, CEO, Volans Ventures Ltd

(“By conducting inquiries into our planet’s most wicked problems, we help business drive positive change at an unprecedented pace and scale.“)

HQ Distance from XR protest: 3.2km
——-

Brad Frankel, CEO and co-founder, Flooglebinder Ltd

(“Our aim is to inspire students to become changemakers and future leaders through a range of educational programmes that connect young people with the outdoors. Our programmes firmly adhere to the United Nations Sustainable Development Goals. By understanding, enjoying and respecting these environments through adventure and play, we hope to develop more global citizens and positive ambassadors for our planet.“)

HQ Distance from XR protest: 267.2km
—–

Jake Hayman, CEO, Ten Years’ Time

(“Whether the cause area is climate change or economic fairness, mental health, homelessness or education, we work with those who are ready to leave the safe ideas behind and want instead to understand, challenge and do their bit to reinvigorate failing systems.“)

HQ Distance from XR protest: 6.4km

——

Jeremy Leggett, founder and director, Solarcentury Ltd

(“We’re in business for a purpose: to make a meaningful difference in the fight against climate change through the widespread adoption of solar power.“)

HQ Distance from XR protest: 4.8km

——

Charmian Love and Amanda Feldman, co-founders, Heliotropy Ltd

(“We broker partnerships across sectors  to support private sector engagement in social and environmental issues.“)

HQ Distance from XR protest: 6.4km

—-
Andy Middleton, founder and chief exploration officer, TYF Group

(“Our mission is to inspire long lives of adventure and promote discovery and care for nature.We create life-changing adventures with a light touch on nature, focus young people’s sight & skills for the future and help organisations with innovation & sustainability. We play for the planet.“)

HQ Distance from XR protest: 387.2km

—-
Safia Minney, founder & Former CEO, People Tree Fair Trade group.

(“Fairtrade promotes training on climate change mitigation for farmers. For example, some training offers advice on switching to environmentally friendly practices, such as developing nutrient-rich soils that support healthy plants and encouraging wildlife to help control pests and diseases.“)

HQ Distance from XR protest: 3.2km

—–
James Perry, partner, Snowball LLP

(“Project Snowball LLP is a pioneering investment organisation that targets social and environmental impact alongside financial return.“)

HQ Distance from XR protest: 60.8km

——
Paul Polman, former CEO, Unilever plc

(“The Unilever Sustainable Living Plan sets out to decouple our growth from our environmental footprint, while increasing our positive social impact. “)

HQ Distance from XR protest: 361.6km

—–
Samer Salty, co-founder and managing partner, Zouk Capital LLP

(“Zouk’s ESG Policy includes an Ethical Investment Policy for negative screening and an innovative and bespoke methodology for assessing the value creation across Environmental, Social, and Governance principles driven by the portfolio companies…Zouk adheres to and is a signatory of the United Nation’s Principles for Responsible Investment (UN PRI) and is also fully Carbon Neutral.“)

HQ Distance from XR protest: 3.2km

—–
Sir Tim Smit, founder of The Eden Project, executive chairman of Eden Regeneration Ltd

(“Get a feel for what we believe in – from the way we run our site to the transformational social and environmental projects that we run on our doorstep and around the world.“)

HQ Distance from XR protest: 396.8km

—–
Hermione Taylor, CEO and founder, The Do Nation Enterprise Ltd

(“If changing behaviours was easy, we’d all be super-fit with PhDs, empty inboxes and spotless bathrooms. And, what’s more, climate change probably wouldn’t be a problem.“)

HQ Distance from XR protest: 6.4km

—–
Diana Verde Nieto, CEO and co-founder, Positive Luxury Ltd

(“Fashion recycling has been on the rise in recent years – so how are consumers shopping pre-worn today? To celebrate Earth Day, we investigate the popularity of the more environmentally-friendly way to stay stylish.“)

HQ Distance from XR protest: 4.8km

—–
Dale Vince OBE, founder, The Ecotricity Group

(“We’ll use the money from your energy bills to develop new sources of green energy. So you can help build a green Britain – just by being with us.“)

HQ Distance from XR protest: 171.2km

—–
Bevis Watts, managing director, Triodos Bank UK

(“Our bank was founded on the conviction that banking can be a powerful force for good. We offer a range of financial and banking services to savers, investors and entrepreneurs who want to change the world for the better. By connecting these groups, we are building a community of people united in their desire to make a positive impact on society, culture and environment.“)

HQ Distance from XR protest: 189km

—–
Tim Westwell, co-founder and former CEO, Pukka

(“Doing good things helps make good things happen. We create things that help you, help nature and everything inbetween. It’s called conservation through commerce – striving to positively change the world for you, business and the planet.“)

HQ Distance from XR protest: 182.6km

—–
Gail Bradbrook (co-founder)  Extinction Rebellion
Fiona Ellis (XR Business)

We’ve covered XR in previous posts. They’re leading this disruption.

—-

So there you have it. Every co-signatory has a vested interest with a business model attached to climate change. Many advertise the brands of other co-signatories on their respective websites. There is nothing woke about signing a letter which seeks self-promotion. Is this about saving the planet or cynically riding off the back of a movement to get press based marketing?

Just Wow

Good to see the Extinction Rebellion prosecutes the argument so well. CM is sold. Based on this Guardian article. How the hell did British Parliament roll over and declare a ‘climate emergency’ based off the prophecies of these people? We’ve already seen how empty the Irish one is when examined at the allocated budget level.

Greta & Obama

A propaganda picture which would have had a place in Soviet times. A socialist leader Obama looking down on a brainwashed teenager, Great Thunberg, who is unbeknownst being exploited by the intelligentsia.

The picture, while excellent as a stand-alone photo, has a patronizing overtone. The disdain held against those wicked climate skeptics. Had NZ PM Jacinda Ardern been in it, the leftist dream team would have been fully assembled. Although her 2050 zero emissions plan has been independently costed and its outrageous.

Obama better not tell Greta Thunberg about the disastrous Solyndra scandal otherwise those crossed arms might end up being for him.

Solyndra was an Obama era solar darling that the Inspector General’s Office, after more than four years of investigation, concluded that company’s senior management used inaccurate information to mislead the Department of Energy (DoE) in its $535 million loan. Soon after the fees landed, Solyndra declared bankruptcy.

Perhaps Greta should be speaking to Bjorn Lomborg to get a proper education on the real price of costing her plans for climate change.