10/07/2020

Spreading Rock Dust On The Ground Could Pull Carbon From The Air, Researchers Say

Washington PostLyndsey Layton

“Enhanced rock weatherization” could store CO2 while also fertilizing farms

Farmers have long applied limestone to their fields to reduce acidity and provide nutrients, but a new study claims that replacing lime with crushed calcium and magnesium-rich silicate rock could help pull carbon from the air. (Farm Images/Universal Images Group/Getty Images)

Spreading rock dust on farmland could pull enough carbon dioxide from the atmosphere to remove about half of the amount of that greenhouse gas currently produced by Europe, according to a major study published Thursday in the journal Nature.

And if China, the United States and India — the three countries that emit the most CO2 — adopted the practice on a large scale, they could collectively clear about 1 billion metric tons of carbon dioxide from the air, according to the new research published by scientists at the University of Sheffield’s Leverhulme Centre for Climate Change Mitigation and the university’s Energy Institute.

Known as enhanced rock weathering, the process involves layering crushed rock onto soil. When silicate or carbonate minerals in the dust dissolve in rain water, carbon dioxide is drawn from the atmosphere into the solution to form bicarbonate ions. The bicarbonate ions are eventually washed by runoff into the ocean, where they form carbonate minerals, storing their carbon indefinitely.

The study published Thursday is the first analysis that used modeling and simulations to estimate the potential of individual countries to capture carbon through enhanced rock weathering.

As nations around the globe strive to mitigate climate change, it’s not enough to reduce the carbon dioxide, methane and other greenhouse gases produced when humans burn fossil fuels, experts say.

Carbon already in the atmosphere has to be removed, scientists say, if nations are to prevent the average global surface temperature from crossing a perilous threshold: 2 degrees Celsius (3.6 Fahrenheit) above preindustrial levels. That is the point beyond which experts warn about dangerous and irreversible changes to the planet.

Crushed basalt is applied to an arable field in Norfolk as part of the research programme of the Leverhulme Centre for Climate Change Mitigation. Photograph: Dr Dimitar Epihov

The 2015 Paris accord, supported by every major economy except the United States under President Trump, calls for severe cuts in greenhouse gas emissions, as well as the removal of between 2 billion and 10 billion metric tons of carbon dioxide each year to reach net-zero emissions by 2050.

“Spreading rock dust on agricultural land is a straightforward, practical CO2 drawdown approach with the potential to boost soil health and food production,” said David Beerling, director of the Leverhulme Centre for Climate Change Mitigation and lead author of the study. “Our analyses reveal the big emitting nations — China, the U.S., India — have the greatest potential to do this, emphasizing their need to step up to the challenge.”

The researchers point out that the countries where enhanced rock weatherization has the greatest potential also have much to lose as the planet warms. “China, the United States and India are all vulnerable to climate change and resultant sea-level rise,” the study said. “Their high risks of economic damage and social disruption provide impetus for creative co-design of agricultural and climate policies.”

European countries have less capacity to remove CO2 through enhanced rock weatherization than China, the United States and India because they have less farmland. The European countries with the greatest potential to get rid of carbon dioxide through enhanced rock weatherization are also the largest emitters: Germany, Spain and Poland, the study said.

The researchers say the cost of enhanced rock weatherization is comparable to other proposals to remove carbon dioxide, including sequestration, in which CO2 is captured as it is emitted from a power plant or a factory and is absorbed into a liquid or a solid and stored. But spreading rock dust over farmland carries the added benefit that it could help rebuild deteriorating agricultural soils in many parts of the world, they argue.

Still, researchers acknowledged their theoretical analysis requires long term real-world trials. And they raise concerns that demand for rock dust may increase mining or grinding operations, which in turn could consume enough energy to account for 10 to 30 percent of the amount of CO2 captured. Layering dust on agricultural soils also requires careful management to make sure metals and other organic compounds are not added to crop fields, they said.

Farmers have long applied limestone to their fields to reduce acidity and provide nutrients in Africa, Brazil and Malaysia. Enhanced rock weathering replaces lime with crushed calcium and magnesium-rich silicate rock.

Spreading volcanic rock on farmland not only has the potential to remove carbon dioxide but has several side benefits, the scientists said. The practice does not compete with the use of agricultural land — in fact, it can enhance the quality of the soil, improving crop yields while reducing the need for artificial fertilizers. Rock left over from mining or construction — “waste rock” — can be processed for this use, creating a reason to recycle it, the researchers said.

Indonesia and Brazil, which emit a small fraction of the carbon dioxide produced by the United States and China, would also have great potential to remove CO2 this way because they have a large percentage of farmland and because their tropical climates would speed up the processes involved in weathering, the scientists said.

“We have passed the safe level of greenhouse gases,” said James Hansen, a partner in the study and director of the Climate Science, Awareness and Solutions Program at Columbia University’s Earth Institute. “Cutting fossil fuel emissions is crucial, but we must also extract atmospheric CO2 with safe, secure and scalable carbon dioxide removal strategies to bend the global CO2 curve and limit future climate change.”

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(AU) Australian Banks ‘Undermining Paris Agreement’ With $7bn In Fossil Fuel Loans

The GuardianBen Smee

Exclusive: Australia’s big four banks have loaned $7bn to 33 new or expansionary fossil fuel projects between 2016 and 2019, analysis finds


Since the Paris agreement was signed, Australia’s big four banks have financed new fossil fuel projects that would cancel out the national emissions reduction target 21 times over, according to analysis by the activist investor group Market Forces.

The analysis, released on Wednesday, shows the banks have loaned $7bn to 33 new or expansionary fossil fuel projects between 2016 and 2019.

Market Forces is concerned that, despite each bank making public their climate commitments and investment policies, the sector still loans almost three times as much to finance fossil fuel projects compared with renewables.

The coronavirus recovery is looming as a critical point where financing and policy decisions could redefine the energy market.

The economic taskforce advising the Morrison government has made recommendations calling on taxpayers to underwrite a massive expansion of the domestic gas industry.

At the same time, the global gas market is in crisis, Reserve Bank data has fuelled calls for a post-pandemic renewables push, and the big banks combined have suggested stimulus measures consistent with the Paris targets.

“Yet the [banks] seem singularly unable to get their own houses in order,” the Market Forces research director, Jack Bertolus, said.

“No amount of sustainability bluster can mask lending $7bn to new or expanded fossil fuel projects that are entirely inconsistent with limiting global warming to 1.5C.

“Australia’s banks committed to support the Paris climate agreement in 2015. Half a decade later they are wrecking its chances of success by continuing … to funnel billions into new polluting projects and companies dragging us in the wrong direction.”

Wednesday’s report listed 33 projects financed by the major banks since 2016, including the proposed third stage of the New Acland coalmine in Queensland (ANZ and NAB) and the Pluto 2 LNG train (ANZ and Westpac) which is part of Woodside’s massive Burrup Hub expansion off the Western Australia coast.

The projects combined could enable the release of 9bn tonnes of carbon dioxide, which is 21 times the federal government’s planned emissions reduction to 2030.

The Guardian last month reported activist shareholders had written to the Commonwealth Bank querying several recent loans to the gas sector, which appeared inconsistent with the bank’s policies that demand it supports only projects consistent with Paris.

The bank’s response was that it considered gas a “transition fuel” that could supplant coal-fired generation. Such claims are increasingly questioned by experts.

“The latest science paints a very clear picture: 1.5C means the world cannot accommodate any new or expanded fossil fuel projects,” the Market Forces report states.

“Our banks must stop financing these activities if their own commitments to support the Paris agreement are to be taken seriously.”

Of the big four, the Commonwealth Bank had the highest total loans to the fossil fuel sector ($12bn) and had loaned the most to expansionary fossil fuel projects ($2.8bn) since 2016.

ANZ had made $2.2bn in loans to expansionary projects; NAB about $1.2bn; and Westpac about $840m.

The NAB group executive for corporate and institutional banking, David Gall, told Guardian Australia that NAB was the only bank to sign up to the United Nations’ collective commitment on climate action and it was constantly reviewing its targets.

“We have an important role to play in supporting our customers and their communities in the orderly transition to a low carbon economy,” Gall said.

He said 69% of NAB’s lending to the power generation sector went to renewable energy sources including hydropower, wind and solar.

“Since 2003, NAB has committed $10bn across 132 renewable energy projects,” Gall said.
An ANZ spokeswoman said the bank’s thermal coal exposure had halved since the Paris agreement was signed.

“While seeking continued reductions in line with our recent trajectory, the nature of these businesses means an orderly transition may not always be a straight line,” the spokeswoman said.

“We have been working closely with a number of our customers in recent years to assist them with their plans to transition to a low carbon economy.”

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(AU) Top Super Fund Dumps Coal Miners As Emissions Cuts Intensify

Sydney Morning HeraldNick Toscano

Australia's second-largest superannuation fund is preparing to dump its shares in companies that derive more than 10 per cent of their revenue from thermal coal mining as it embarks on the most aggressive immediate climate push of any large local investor.

First State Super, which holds $130 billion in retirement savings, is distributing a new climate plan among its members detailing initiatives to shield their money from the threats of global warming, including setting a 30 per cent emissions-reduction target across its investment portfolio by 2023 and a 45 per cent cut by 2030.

First State chief executive Deanne Stewart told The Age and The Sydney Morning Herald climate change posed the single biggest risk to Australians' retirement savings, and superannuation investors must "take bold and decisive action now" to safeguard members' long-term interests.

First State Super CEO Deanne Stewart.

"Climate change clearly poses the most significant risk to investment portfolios over the long term," she said. "Why we are stepping it up to a much greater degree now is we see that risk front and centre in terms of the impact it is likely to have on investment returns for our members."

The most immediate direct action is to divest all its shareholdings of companies that mine thermal coal – the type of coal used in power generation – by October 2020.

Although the plan does not specify which thermal coal miners will be divested, corporate records indicate First State held shares in ASX-listed Whitehaven Coal, Stanmore Coal, New Hope and Washington H. Soul Pattinson in 2019.

The next phases of the fund's strategy – a 30 per cent emissions cut across its entire listed equities portfolio by 2023 and 45 per cent by 2030 – are more immediate goals than those set by many other investors, whose targets stretch out to 2050.

Along with increasing its investment targets for renewable energy, First State said its goals would be achieved first through engaging with boards of heavy-emitting companies about their plans to decarbonise and then through further divestments where necessary.

"The time for debate and discussion is up: Really large emitters need to have a really clear transition plan with very clear targets, and then action it," Ms Stewart said. "The investment community wants to engage with them, back them and help them in this transition, but not if no action is taken."

First State said it had spent five years engaging with the nation's top polluter, AGL, on decarbonising and welcomed its pledge last month to link executive pay incentives to achieving targets surrounding the expansion of renewable energy generation and selling more "carbon-neutral" energy plans.

The fund's move to divest thermal coal miners is the latest setback for the coal sector following pledges by a growing number of the world's institutional investors to reduce their fossil fuel exposure on ethical and financial grounds. The world's largest asset manager, BlackRock, this year announced a partial retreat from thermal coal investment citing climate change concerns. HESTA, the super fund for healthcare workers, has divested its thermal coal holdings as part of its plan to be a "net-zero" emitter by 2050.

The Investor Group on Climate Change, which represents big investors with more than $2 trillion under management, said more Australian funds were planning to roll out tougher climate targets imminently.

"The proliferation of emissions reduction goals across Australian portfolios is a clear sign of the growing ambition and sophistication on climate change among institutional investors," said the group's chief executive officer, Emma Herd.

"We expect this trend to only intensify in the coming months."

A spokesman for the Minerals Council of Australia, which counts thermal coal miners among its members, said the group did not comment on superannuation entities' divestment decisions.

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