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<p><i><font size="+1"><b>December 8, 2020</b></font></i></p>
[but never a (free) drop to drink]<br>
<b>California Water Futures Begin Trading Amid Fear of Scarcity</b><br>
By Kim Chipman<br>
December 6, 2020<br>
Futures on California water index launched by CME Group<br>
Contracts seen useful for farmers, cities to hedge water risk<br>
Water joined gold, oil and other commodities traded on Wall Street,
highlighting worries that the life-sustaining natural resource may
become scarce across more of the world.<br>
<br>
Farmers, hedge funds and municipalities alike are now able to hedge
against -- or bet on -- future water availability in California, the
biggest U.S. agriculture market and world's fifth-largest economy.
CME Group Inc.'s January 2021 contract, linked to California's $1.1
billion spot water market, last traded Monday at 496 index points,
equal to $496 per acre-foot.<br>
<br>
The contracts, a first of their kind in the U.S., were announced in
September as heat and wildfires ravaged the U.S. West Coast and as
California was emerging from an eight-year drought. They are meant
to serve both as a hedge for big water consumers, such as almond
farmers and electric utilities, against water prices fluctuations as
well a scarcity gauge for investors worldwide.<br>
<br>
"Climate change, droughts, population growth, and pollution are
likely to make water scarcity issues and pricing a hot topic for
years to come," said RBC Capital Markets managing director and
analyst Deane Dray. "We are definitely going to watch how this new
water futures contract develops."...<br>
- -<br>
<b>Water Shortages</b><br>
Two billion people now live in nations plagued by water problems,
and almost two-thirds of the world could face water shortages in
just four years, Tim McCourt, global head of equity index and
alternative investment products at CME, said in an interview. "The
idea of managing risks associated to water is certainly increased in
importance."<br>
<br>
Currently, if a farmer wants to know what water will cost in
California six months from now, it's kind of a "best guess," Patrick
Wolf, senior manager and head of product development at Nasdaq, said
in an interview.<br>
<br>
The futures will allow market participants to see "what is
everybody's best guess," he said.<br>
<br>
Barton "Buzz" Thompson, a professor of natural-resources law at
Stanford University, said while he has "no idea" if the futures will
be successful, he doesn't see it as a transformation of the water
market.<br>
<br>
"I don't think the futures contract itself is really changing the
water markets," Thompson said. "Nor is it changing the risk that
exists out there that water in the future at some point will be in
shorter supply, it's simply responding to those things."<br>
<br>
CME declined to identify potential market participants, except to
note that the exchange has heard from California agriculture
producers, public water agencies, utilities as well as institutional
investors like asset managers and hedge funds.<br>
<br>
Landry of WestWater Research said in addition to the likelihood of a
"great deal of interest" from Wall Street, he expects the early
water futures adopters to be large and small agriculture businesses.<br>
<br>
"Without this tool people have no way of managing water supply
risk," Boise, Idaho-based Landry said in an interview. "This may not
solve that problem entirely, but it will help soften the financial
blow that people will take if their water supply is cut off."<br>
<a class="moz-txt-link-freetext" href="https://www.bloomberg.com/news/articles/2020-12-06/water-futures-to-start-trading-amid-growing-fears-of-scarcity">https://www.bloomberg.com/news/articles/2020-12-06/water-futures-to-start-trading-amid-growing-fears-of-scarcity</a><br>
<p>- - <br>
</p>
[water markets]<br>
<b>Understanding the Nasdaq Veles California Water Index</b><br>
<a class="moz-txt-link-freetext" href="https://www.cmegroup.com/education/courses/understanding-the-nasdaq-veles-california-water-index.html">https://www.cmegroup.com/education/courses/understanding-the-nasdaq-veles-california-water-index.html</a><br>
<p><br>
</p>
<br>
[Informed, current presentation of the economics, strategy and
morality of fossil fuel divestment]<br>
<b>Divestment and Climate Action</b><br>
Streamed live on Dec 1, 2020<br>
Oxford Climate Society<br>
<br>
Divestment and Climate Action <br>
<br>
Earlier this year, Greta Thunberg called on world leaders at Davos
to end the 'madness' of fossil fuel investments and subsidies. In a
letter co-authored with other youth climate activists from across
the globe, they demanded that all companies, banks, institutions and
governments 'immediately and completely divest from fossil fuels',
citing the $1.9tn that has been poured into fossil fuels since the
2015 Paris Agreement.<br>
<br>
The global climate movement has grown exponentially over the past
few years, increasingly putting pressure on high profile
institutions and companies to take action and change their
investment portfolios to exclude fossil fuel companies, with some
notable successes. Many universities hold endowments funds
comprising millions of pounds, and whether these investments are
held in companies that discover, extract and distribute fossil fuels
raises difficult moral questions. <br>
<br>
But is divesting from these companies the best way for large
institutional investors like universities to effect change in the
energy sector, or is it just needless 'virtue-signalling'? Is it a
problem that universities considering divestment accept large
donations from the energy sector? Finally, would it not be more
productive to stay invested and capitalised on their position as
stakeholders to pressure Big Oil to be more environmentally
responsible? <br>
<br>
In the light of Cambridge University's recent announcement to fully
divest and the tireless campaigns within Oxford and its colleges for
divestment, we look forward to discussing the role that universities
and colleges can play, as investors, in the transition to a cleaner
economy. To provide insight to this debate, we are delighted to be
joined by Jonathon Porritt and Dr Ellen Quigley.<br>
<br>
Jonathon Porritt is a veteran campaigner and eminent writer,
broadcaster and commentator on sustainable development. A prominent
member of the Green Party in its early days, he served as co-chair
and presided over changes that rapidly expanded the party's
membership. He is the Founder-director of the Forum for the Future,
one of the UK's leading sustainable development charities, and was
previously the Director of Friends of the Earth from 1984-1990. An
alumnus of Magdalen College, where he studied modern languages,
Jonathon was installed as the Chancellor of Keele University in
February 2012 and is also a Visiting Professor at Loughborough
University and UCL.<br>
<br>
Dr Ellen Quigley is the Advisor to the Chief Financial Officer at
the University of Cambridge, on Responsible Investment. A Research
Associate in Climate Risk and Sustainable Finance at the Centre for
the Study of Existential Risk, she was lead author of a report
titled Divestment: Advantages and Disadvantages for the University
of Cambridge, published earlier this year. She holds an A.B in
english literature from Harvard College, an MSc in Nature, Society
and Environmental Policy from the University of Oxford and a PhD in
Economics Education from the University of Cambridge. <br>
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=C5LE__4BeIE">https://www.youtube.com/watch?v=C5LE__4BeIE</a><br>
<br>
<p><br>
</p>
[from Wildfire Today]<br>
<b>One view of why wildfires are becoming more destructive</b><br>
Bill Gabbert - December 7, 2020 One view of why wildfires are
becoming more destructive<br>
This video created by Jules Bennett is an overview of the wildfire
environment we currently face in the United States.<br>
<br>
"It's a 6 minute informational video that explains why wildfires
across the western U.S. are becoming increasingly destructive," Mr.
Mennett wrote to us. "It's based on credible secondary research that
I conducted over the course of a few weeks and tries to simplify the
concept so that the public can become more aware of why it's
happening, and potential solutions to think about."<br>
<a class="moz-txt-link-freetext" href="https://wildfiretoday.com/2020/12/07/one-view-of-why-wildfires-are-becoming-more-destructive/">https://wildfiretoday.com/2020/12/07/one-view-of-why-wildfires-are-becoming-more-destructive/</a><br>
<p>- -<br>
</p>
<p>[video explaining Wildfire]<br>
<b>Why Wildfires are Getting Worse</b><br>
Dec 4, 2020<br>
Thought Monkey<br>
Wildfires across the western portion of the United States,
particularly in but not limited to places like California, have
become increasingly destructive over the past 10 years. Fires like
the Camp Fire, Tubbs Fire, North Complex, Carr Fire, LNU
Lightening Complex, Creek Fire, and many more have destroyed more
than 50,000 buildings and causes millions if not billions of
dollars of damage since the 1990s. <br>
<br>
There are some very clear reasons as to why this is happening -
Climate Change, Forest Management Policy, and Housing Development
in WUIs (Wildland Urban Infrastructure) are a few key reasons. <br>
<br>
In this video I break down the primary causes of the increasingly
destructive nature of wildfires and share a few of the key
solutions that experts have proposed. <br>
<a class="moz-txt-link-freetext" href="https://youtu.be/6Zvbf-0Duk0">https://youtu.be/6Zvbf-0Duk0</a><br>
</p>
<p><br>
</p>
<p><br>
</p>
[singing activism in Massachusetts]<br>
<b>All I want for Christmas is a climate bill with teeth</b><br>
Dec 3, 2020<br>
Sonja Tengblad<br>
The following is a message to the Climate Conference Committee from
families across Massachusetts. (Sonja DuToit Tengblad, soprano on
behalf of Mothers Out Front East Boston. Lyrics: Andra Rose)<br>
<blockquote>All I want for Christmas is a climate bill with teeth,<br>
a bill with teeth,<br>
yes a bill with teeth.<br>
Gee if I could only have a bill with teeth,<br>
I could end the session happy.<br>
For oh so long I've wanted to say: <br>
"The Conference Committee made a deal!"<br>
Gosh oh Gee how happy I'd be <br>
if Environmental Justice was real!<br>
</blockquote>
<a class="moz-txt-link-freetext" href="https://www.youtube.com/watch?v=GAIH3Y20is0&feature=youtu.be">https://www.youtube.com/watch?v=GAIH3Y20is0&feature=youtu.be</a><br>
<p><br>
</p>
<br>
[Digging back into the internet news archive]<br>
<font size="+1"><b>On this day in the history of global warming -
December 8, 2014 </b></font><br>
<br>
The Washington Post reports:<br>
<blockquote>"Oil, gas and coal interests that spent millions to help
elect Republicans this year are moving to take advantage of
expanded GOP power in Washington and state capitals to thwart
Obama administration environmental rules.<br>
<br>
"Industry lobbyists made their pitch in private meetings last week
with dozens of state legislators at a summit of the American
Legislative Exchange Council (ALEC), an industry-financed
conservative state policy group.<br>
<br>
"The lobbyists and legislators considered several model bills to
be introduced across the country next year, designed to give
states more power to block or delay new Obama administration
environmental standards, including new limits on power-plant
emissions.<br>
<br>
"The industry's strategy aims to combat a renewed push by
President Obama to carve out climate change as a top priority for
his final two years in office. The White House has vowed to
continue using executive authority to enact more environmental
limits, and the issue is shaping up to be a major flash point
heading into the 2016 presidential election.<br>
<br>
"With support from industry lobbyists, many Republicans are
planning to make the Environmental Protection Agency a primary
political target, presenting it as a symbol of the kind of
big-government philosophy they think can unify social and economic
conservatives in opposition."<br>
</blockquote>
<a class="moz-txt-link-freetext" href="http://www.washingtonpost.com/politics/fossil-fuel-lobbyists-bolstered-by-gop-wins-work-to-curb-environmental-rules/2014/12/07/3ef05bc0-79b9-11e4-9a27-6fdbc612bff8_story.html">http://www.washingtonpost.com/politics/fossil-fuel-lobbyists-bolstered-by-gop-wins-work-to-curb-environmental-rules/2014/12/07/3ef05bc0-79b9-11e4-9a27-6fdbc612bff8_story.html</a>
<br>
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