Posts

Canada’s last fully intact arctic ice shelf collapses

by Moira Warburton, The Huffington Post


Highlights

  • The Milne Ice Shelf, located on Ellesmere Island in the Canadian territory of Nunavut, has collapsed, resulting in the loss of over 40% of the glaciers total area
  • The area loss is more than the island of Manhattan 
  • Arctic amplification, high air temperatures, offshore winds, and open water in front of the ice shelf are to blame 
  • Luke Copland, a glaciologist at the University of Ottawa, says that summer in the Canadian arctic has been 5 degrees Celcius warmer over the 30-year average
  • The collapse of the shelf resulted in the loss of the northern hemisphere’s last known epishelf lake and took down a research camp that was empty before the collapse
  • Two other ice caps on Ellesmere Island are also diminishing and are likely to disappear within 10 years

Scientists are increasingly warning that to avoid catastrophic impacts from climate change, the world’s governments must implement massive reductions of warming emissions and begin a drawdown of greenhouse gases (GHG) from the atmosphere over the decade ahead.  For a safe and healthy future for all, endorse the Climate-Safe California Platform to implement scalable solutions that can reverse the climate crisis.


Read More: https://www.huffpost.com/entry/canada-last-arctic-ice-shelf_n_5f2c9d69c5b64d7a55f0d6ec?ncid=engmodushpmg00000004

Global financial giants swear off funding Canadian tar sands

By Christopher Flavelle, The New York Times


Highlights:

Due to pressure from shareholders and environmental activists, financial institutions and insurance companies are no longer investing in oil production taking place in Alberta, Canada.

  • Though divestment promises have been made, oil extraction from the province increased last year
  • Local Canadian banks and pension funds are still lending money for oil extraction
  • Some of the same companies pulling away from oil sands are continuing to invest in oil projects in other countries
  • Alberta’s government considers the divestment an attack on their industry and will “punish” companies that have stopped financing oil extraction 
  • Moody’s credit rating agency downgraded the creditworthiness of Alberta’s debt to its lowest level in 20 years
  • Oil sands extraction is energy-intensive and leads to about 70% more greenhouse gas generation per unit of energy on average

The Climate Center supports divestment to help speed up and scale up greenhouse gas reductions.


Read More: https://www.nytimes.com/2020/02/12/climate/blackrock-oil-sands-alberta-financing.html