A side-story to this (very welcome) news:

Calculating global fossil-fuel emissions is something a numerate teenager can do on a laptop.

Calculating global land-use emissions? We're mostly just staggering around in semi-darkness.
We know how much carbon there is in fossil fuels and how much CO2 they produce when burned. These are global commodities whose production volumes are well-known.

Multiply the two and you have a good-enough number for FF emissions. The best analysis merely refines this sum.
Whereas calculating land-use emissions involve multiple calculations about the carbon cycles of different ecosystems, and how those ecosystems link up, and are being changed by climate change itself, etc. etc. There's an awful lot that we don't know in all of this!
One reason that trees have become the gold standard for land-use carbon management -- the reason there was a deforestation deal at @COP26, rather than one on carbon-fixing in grasslands or wetlands etc -- is just that trees are the bit of ecosystems which we understand best.
@COP26 We've in a sense been calculating the above-ground carbon stock of forests since the middle ages, because forestry management is basically calculating the age and volume of wood in a forest. This is an old established science with visible results -- the volume of timber produced.
@COP26 But the below-ground carbon stock of forests -- in root systems, fungus, and other flora and fauna -- may be just as important, and we really know very little about it. Not to mention in other ecosystems.
@COP26 If, as we hope, fossil fuel emissions go into sharp decline over the coming decades, it's going to be even more crucial that we have a good idea of what's going on in terms of land-use change.
@COP26 This recent study estimated that about 42% of all the biomass on earth is below the ground.

There's 130bn tonnes of plant roots and 100bn tonnes of soil microbes. Every animal on the land and in the sea sums to just 2bn tonnes.

pnas.org/content/115/25… Image
@COP26 We know very, very little about that 230 billion tons of below-ground biomass. Just calculating how much there is involves burying nylon bags or tubes of sand in the ground for 12 months and burning them, to calculate how much organic material was consumed. Image
@COP26 That is, to say the least, an inexact science!

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More from @davidfickling

4 Nov
It is truly breathtaking the speed with which coal is vanishing from the world economy.

I remember writing in mid-2019 that the world's last coal plant will soon be built, and thinking I was going waaay out on a limb:

bloomberg.com/opinion/articl…
Now we have 190 countries turning 2019's contentious argument into 2021's reality, committing to end investment in new coal power and phase it out in major economies during the 2030s:

gov.uk/government/new… Image
There's a lot unsaid in that statement, and we really need to see the full text.

What about the other 7 countries in the UNFCCC who haven't signed up, and who are they? (Looking at you, Australia)

*When* does investment in new coal end, and *when* does the phaseout go to zero?
Read 14 tweets
3 Nov
Something to think about as India starts to reduce its dependence on coal.

The first map is districts affected by the 54-year-old Naxalite insurgency.

The second map shows India's coalfields. ImageImage
The Godavari valley in the east of the country is central to both the insurgency and the coal industry.

We don't know that much about the Naxalites' funding model, but extortion of wealthy local businesses such as mining and coal processing and transport seems to be important.
The insurgency has declined dramatically in recent years but it seems to be in the coal belt that it's hanging on longest.

If the coal industry declines, does that weaken the insurgency (less money, less land expropriation) or strengthen it (fewer jobs, more discontent)?
Read 4 tweets
2 Nov
A net zero target from Nigeria is truly extraordinary, and a testament to the level of ambition we're seeing from emerging economies now.

There is no way this would be happening if zero-carbon technologies hadn't so drastically undercut fossil fuels on cost.
Nigeria is of course Africa's biggest oil producer with the world's biggest conventional reserves after the Middle East, Russia and the U.S., roughly equal with Venezuela.
And it is at the bottom of the escalator of energy-intensive development and industrialization that India is now climbing and China is stepping off.
Read 6 tweets
27 Oct
Very much agree with this @matt_levine piece about the simpler explanation for the lack of oil drilling in the U.S.: it's not ESG, it's just usual expectations around cashflows.

The past ~15 years in oil markets make show this pretty well:

bloomberg.com/opinion/articl… via @bopinion
@bopinion When I first started following energy markets 15 years ago, the big thing everyone was talking about was the revenge of state oil companies and the decline of the old "Seven Sisters" -- Exxon, Shell, Chevron, BP, Total, Eni, etc:

ft.com/content/471ae1…
The thinking here was pretty straightforward. The offshore and onshore oil basins outside of OPEC that oil importers and international oil companies had used to diversify supply since the 1970s oil crisis (the North Sea, for instance) were more or less tapped out.
Read 21 tweets
21 Oct
Stunning pace of vaccine uptake in Victoria now.

At current rate (1st doses up 1.4%/week in NSW, 2.5%/week in Vic) it's conceivable that Victoria's coverage even moves ahead of NSW next month.

A month ago they were 10 percentage points behind.
I very rarely say "x shouldn't be politicized". Most things should be politicized, and there's been lots of genuine failings worthy of criticism around Australia's handling of Covid. But this is why I most hate all this interstate rivalry nonsense.
The sheer volume of bad-faith sniping that has gone on has been mind-boggling, and profoundly dispiriting. Every time I saw some shift in the infection or vaccine data attributed to Dictator Dan or Corrupt Gladys my heart sank.
Read 5 tweets
14 Oct
This is just devastating stupidity, even for this band of absolute chiefs.

Imagine making a highly-levered bet against the Hong Kong dollar peg, at a time when the aggregate balance which underpins it is absolutely surging.
bloomberg.com/news/articles/…
Look at the chart here. When this line goes up, it gets easier and easier for the HKMA to fund the currency peg.

May is when they're shopping this trade around and none of the investors appears to have thought to look at the HKMA's website. Image
Image
Read 6 tweets

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