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Edinburgh University ‘refuses’ to divest from fossil fuels

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Student campaigners at Edinburgh University have accused staff of being ‘in the pockets of the fossil fuel industry’ after the University Court refused to divest from fossil fuels, despite recommendations to pull the plug on investments in coal and tar sands.

The university court, the highest decision making body in the university, was criticised on Tuesday by students, who say that it has “ignored calls from students, staff and alumni to divest from fossil fuel companies”. Students also accused the university of having a “conflict of interests”.

A statement released by the university said that it had decided to work with companies to reduce emissions, saying that it would “use its research activities and its responsible investment to work with companies to reduce their emissions”.

Senior Vice Principal, Professor Charlie Jeffery said, “The decision outlines our commitment to use the leverage of our investments to bring about change that reduces carbon emissions in the fossil fuels and other sectors, and to press further with our world-leading research activities that actively contribute to the solution of problems arising from fossil fuel emissions and the identification of alternative technologies”.

But students have reacted angrily, directing accusations toward the university that it has has put money before climate science. Wearing dust masks, they protested by lying on the ground outside the university.

The university has the third largest university endowment in the UK totalling £291m, after Oxford and Cambridge. £9m of this is currently invested in companies such as Total, Shell and BHP Billiton.

Some universities within the UK have committed to divesting their funds, including the University of Glasgow, the University of Bedfordshire and the University of London SOAS. In total, 28 universities internationally have agreed to move their investments from fossil fuels.

The decision has sparked outrage and a strong backlash from student campaigners and activists. A recommendation was made by the university’s Central Management Group to divest from fossil fuels, but members of the court refused on Monday to implement the changes.

Kirsty Haigh, student campaigner with Edinburgh People & Planet, said, “Despite the university’s public consultation showing overwhelming support for fossil fuel divestment, the university has put money before climate science. Heads of the School of Engineering, in the pockets of the fossil fuel industry, have been scaremongering throughout the process”.

She added, “Departments funded by the industry were over-represented on the investment advisory committee, whilst some schools had no representation whatsoever. Climate change is the most urgent threat the world is facing, and today’s announcement tells us the university is not taking it seriously enough.”

A open letter has been signed by 65 students within the School of Engineering and sent to Prof. Hugh McCann, head of the school, who has publically opposed the divestment campaign. It accuses the school of “failing to prepare its students for careers in the rapidly changing energy markets of the 21st century”.

Freedom of Information requests have revealed that the school received funding from a range of fossil fuel companies, including BP, Shell and ConocoPhillips, and that 37 members of staff were in direct contact with fossil fuel industry representatives.

Further reading:

University of Edinburgh recommended to divest from coal and tar sands

Fossil fuel divestment campaigns can help ‘stigmatise’ industry

UN backing fossil fuel divestment campaign

Guardian Media Group commits to divesting from fossil fuels

Fossil fuel industry challenged as part of Global Divestment Day

Energy

7 New Technologies That Could Radically Change Our Energy Consumption

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Energy Consumption
Shutterstock Licensed Photo - By Syda Productions | https://www.shutterstock.com/g/dolgachov

Most of our focus on technological development to lessen our environmental impact has been focused on cleaner, more efficient methods of generating electricity. The cost of solar energy production, for example, is slated to fall more than 75 percent between 2010 and 2020.

This is a massive step forward, and it’s good that engineers and researchers are working for even more advancements in this area. But what about technologies that reduce the amount of energy we demand in the first place?

Though it doesn’t get as much attention in the press, we’re making tremendous progress in this area, too.

New Technologies to Watch

These are some of the top emerging technologies that have the power to reduce our energy demands:

  1. Self-driving cars. Self-driving cars are still in development, but they’re already being hailed as potential ways to eliminate a number of problems on the road, including the epidemic of distracted driving ironically driven by other new technologies. However, even autonomous vehicle proponents often miss the tremendous energy savings that self-driving cars could have on the world. With a fleet of autonomous vehicles at our beck and call, consumers will spend less time driving themselves and more time carpooling, dramatically reducing overall fuel consumption once it’s fully adopted.
  2. Magnetocaloric tech. The magnetocaloric effect isn’t exactly new—it was actually discovered in 1881—but it’s only recently being studied and applied to commercial appliances. Essentially, this technology relies on changing magnetic fields to produce a cooling effect, which could be used in refrigerators and air conditioners to significantly reduce the amount of electricity required.
  3. New types of insulation. Insulation is the best asset we have to keep our homes thermoregulated; they keep cold or warm air in (depending on the season) and keep warm or cold air out (again, depending on the season). New insulation technology has the power to improve this efficiency many times over, decreasing our need for heating and cooling entirely. For example, some new automated sealing technologies can seal gaps between 0.5 inches wide and the width of a human hair.
  4. Better lights. Fluorescent bulbs were a dramatic improvement over incandescent bulbs, and LEDs were a dramatic improvement over fluorescent bulbs—but the improvements may not end there. Scientists are currently researching even better types of light bulbs, and more efficient applications of LEDs while they’re at it.
  5. Better heat pumps. Heat pumps are built to transfer heat from one location to another, and can be used to efficiently manage temperatures—keeping homes warm while requiring less energy expenditure. For example, some heat pumps are built for residential heating and cooling, while others are being used to make more efficient appliances, like dryers.
  6. The internet of things. The internet of things and “smart” devices is another development that can significantly reduce our energy demands. For example, “smart” windows may be able to respond dynamically to changing light conditions to heat or cool the house more efficiently, and “smart” refrigerators may be able to respond dynamically to new conditions. There are several reasons for this improvement. First, smart devices automate things, so it’s easier to control your energy consumption. Second, they track your consumption patterns, so it’s easier to conceptualize your impact. Third, they’re often designed with efficiency in mind from the beginning, reducing energy demands, even without the high-tech interfaces.
  7. Machine learning. Machine learning and artificial intelligence (AI) technologies have the power to improve almost every other item on this list. By studying consumer patterns and recommending new strategies, or automatically controlling certain features, machine learning algorithms have the power to fundamentally change how we use energy in our homes and businesses.

Making the Investment

All technologies need time, money, and consumer acceptance to be developed. Fortunately, a growing number of consumers are becoming enthusiastic about finding new ways to reduce their energy consumption and overall environmental impact. As long as we keep making the investment, our tools to create cleaner energy and demand less energy in the first place should have a massive positive effect on our environment—and even our daily lives.

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Energy

Responsible Energy Investments Could Solve Retirement Funding Crisis

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Energy Investments
Shutterstock / By Sergey Nivens | https://www.shutterstock.com/g/nivens

Retiring baby-boomers are facing a retirement cliff, at the same time as mother nature unleashes her fury with devastating storms tied to the impact of global warming. There could be a unique solution to the challenges associated with climate change – investments in clean energy from retirement funds.

Financial savings play a very important role in everyone’s life and one must start planning for it as soon as possible. It’s shocking how quickly seniors can burn through their nest egg – leaving many wondering, “How long your retirement savings will last?

Let’s take a closer look at how seniors can take baby steps on the path to retiring with dignity, while helping to clean up our environment.

Tip #1: Focus & Determination

Like in other work, it is very important to focus and be determined. If retirement is around the corner, then make sure to start putting some money away for retirement. No one can ever achieve anything without dedication and focus – whether it’s saving the planet, or saving for retirement.

Tip #2: Minimize Spending

One of the most important things that you need to do is to minimize your expenditures. Reducing consumption is good for the planet too!

Tip #3: Visualize Your Goal

You can achieve more if you have a clearly defined goal in life. This about how your money can be used to better the planet – imagine cleaner air, water and a healthier environment to leave to your grandchildren.

Investing in Clean Energy

One of the hottest and most popular industries for investment today is the energy market – the trading of energy commodities. Clean energy commodities are traded alongside dirty energy supplies. You might be surprised to learn that clean energy is becoming much more competitive.

With green biz becoming more popular, it is quickly becoming a powerful tool for diversified retirement investing.

The Future of Green Biz

As far as the future is concerned, energy businesses are going to continue getting bigger and better. There are many leading energy companies in the market that already have very high stock prices, yet people are continuing to investing in them.

Green initiatives are impacting every industry. Go Green campaigns are a PR staple of every modern brand. For the energy-sector in the US, solar energy investments are considered to be the most accessible form of clean energy investment. Though investing in any energy business comes with some risks, the demand for energy isn’t going anywhere.

In conclusion, if you want to start saving for your retirement, then clean energy stocks and commodity trading are some of the best options for wallets and the planet. Investing in clean energy products, like solar power, is a more long-term investment. It’s quite stable and comes with a significant profit margin. And it’s amazing for the planet!

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