07/01/2022

(NYT) Chile Writes Its Constitution, Confronting Climate Change Head On

New York TimesSomini Sengupta | 



Evaporation ponds at a lithium plant in Chile’s Atacama Desert. Questions of mineral wealth, global warming and water are at the heart of a rewrite of the nation’s defining document.

SALAR DE ATACAMA, Chile — Rarely does a country get a chance to lay out its ideals as a nation and write a new constitution for itself. Almost never does the climate and ecological crisis play a central role.

That is, until now, in Chile, where a national reinvention is underway. After months of protests over social and environmental grievances, 155 Chileans have been elected to write a new constitution amid what they have declared a “climate and ecological emergency.”

Their work will not only shape how this country of 19 million is governed. It will also determine the future of a soft, lustrous metal, lithium, lurking in the salt waters beneath this vast ethereal desert beside the Andes Mountains.

Lithium is an essential component of batteries. And as the global economy seeks alternatives to fossil fuels to slow down climate change, lithium demand — and prices — are soaring.

Mining companies in Chile, the world’s second-largest lithium producer after Australia, are keen to increase production, as are politicians who see mining as crucial to national prosperity. They face mounting opposition, though, from Chileans who argue that the country’s very economic model, based on extraction of natural resources, has exacted too high an environmental cost and failed to spread the benefits to all citizens, including its Indigenous people.

And so, it falls to the Constitutional Convention to decide what kind of country Chile wants to be. Convention members will decide many things, including: How should mining be regulated, and what voice should local communities have over mining? Should Chile retain a presidential system? Should nature have rights? How about future generations?

Around the world, nations face similar dilemmas — in the forests of central Africa, in Native American territories in the United States — as they try to tackle the climate crisis without repeating past mistakes. For Chile, the issue now stands to shape the national charter. “We have to assume that human activity causes damage, so how much damage do we want to cause?” said Cristina Dorador Ortiz, a microbiologist who studies the salt flats and is in the Constitutional Convention. “What is enough damage to live well?”

Then there’s water. Amid a crippling drought supercharged by climate change, the Convention will decide who owns Chile’s water. It will also weigh something more basic: What exactly is water?

‘Sacrifice Zones’

President-elect Gabriel Boric, center left, met with members of Chile’s Constitutional Convention this month.

Chile’s current constitution was written in 1980, by people handpicked by its then military ruler, Augusto Pinochet. It opened the country to mining investments and allowed water rights to be bought and sold.

Chile prospered by exploiting its natural riches: copper and coal, salmon and avocados. But even as it became one of Latin America’s richest nations, frustrations mounted over inequality. Mineral-rich areas became known as “sacrifice zones” of environmental degradation. Rivers began drying up.

Anger boiled over into huge protests starting in 2019. A national referendum followed, electing a diverse panel to rewrite the constitution.

On Dec. 19 came another turning point. Voters elected Gabriel Boric, a 35-year-old former student activist, as president. He had campaigned to expand the social safety net, increase mining royalties and taxes, and create a national lithium company.

The morning after his victory, the stock price of the country’s biggest lithium producer, Sociedad Química y Minera de Chile, or SQM, fell 15 percent.

The Father of Volcanoes

An SQM lithium processing plant.

One fifth of the world’s lithium is produced by SQM, most of it in the Atacama Desert in northern Chile in the shadow of ancient volcanoes, including the oldest and still-active one, Lascar. The Lickanantay, the area’s Indigenous people, call Lascar the father of all volcanoes.

From above, the mine looks as though someone has spread a glistening blue and green quilt in the middle of this pale desert.

The riches lie in the brine underground. Day and night, SQM pumps out the brine, along with freshwater from five wells. Pipes carry brine to a series of ponds.

Then, the sun goes to work.

The Atacama has the highest solar radiation levels on Earth. Water evaporates astonishingly fast, leaving mineral deposits behind. Magnesium comes out of the ponds. Also potassium. Lithium remains in a viscous yellow green pool, which SQM converts into powdery white lithium carbonate for battery makers abroad.

SQM was a state-owned maker of fertilizer chemicals until Mr. Pinochet turned it over to his then son-in-law, Julio Ponce Lerou, in 1983. More recently, it has been fined by Chile’s stock market regulator and by the U.S. Securities and Exchange Commission over violations of the Foreign Corrupt Practices Act. Mr. Ponce, no longer chairman, retains 30 percent ownership.




(AFR) Private Credit: Catalysts For Climate Impact

Australian Financial Review - Adriana Becera Cid

Private credit is positioned for investment opportunities in the transition to a resilient, net zero economy.

Author

Adriana Becera Cid is a sustainability analyst in Lombard Odier’s Sustainability Investment Research, Strategy and Stewardship team, and a member of Lombard Odier Investment Management’s  Sustainable Private Credit Investment team.
“The window is still open, scientifically, to act,” according to Professor Johan Rockström, architect of the nine planetary boundaries – environmental thresholds for humanity recently popularised by the Netflix documentary, Breaking Boundaries.

During the Zero-Hour Sessions, an event convened by Lombard Odier during the COP26 climate summit, Rockström stressed that our planet – “a complex, adaptive, self-regulating biophysical system” – has tipping points which, if triggered, cause “self-enforced drift in the wrong direction”.

While the stability of our planet, and the economic activity it supports, depends on humanity keeping within these science-based thresholds and avoiding the “no-go zones” beyond them, we have already broken through four limits:
  • toxic waste
  • air pollution
  • freshwater overuse and
  • agrochemical pollution
and are on course for transgressing a critical fifth boundary:
  • keeping global warming within 1.5 degrees above pre-industrial levels.
According to the IEA, COP26 commitments reduced the forecast global temperature rise from 2.7  degrees to 1.8 degrees.

 While further policy impetus is essential in directing real decarbonisation throughout the economy, private sector resources must be marshalled to realise the required emissions reductions.

The financing gap to put the world on a path to net zero is estimated to be $US32 trillion ($44 trillion) in the next decade.

New arenas of risk and opportunity

As illustrated below, economy-wide decarbonisation presents new variables to consider in evaluating risk-adjusted returns as transitional, physical and liability risks increasingly factor into corporate profitability and valuations:
  • Transitional risk includes shifts in demand among climate-aware consumers, companies’ ability to reduce emissions and the impact of higher carbon costs and regulation.
  • Physical risk includes the damage caused by more frequent extreme weather events and the associated degradation of agricultural yields and less-productive labour forces.
  • Liability risk includes historical responsibility for climate change among companies and sovereigns, as well as mitigation and adaptation costs.
Extreme weather is a form of physical climate risk. US President Joe Biden and Kentucky Governor Andy Beshear talking to people as they survey storm damage from tornadoes and extreme weather in Mayfield, Kentucky, in December 2021.  AP
Forward-looking investors may identify public and private businesses that are mitigating climate risk and acting on the opportunities generated by the transition.

Lombard Odier believes there are significant opportunities available to advance the transition to net zero (“NZ”) through not just traditional public equity and debt markets, but also through private markets.

While private equity capital has been well-deployed towards sustainable finance, we believe the broad versatility of solutions-oriented private credit is positioned to play an important role in accelerating the transition into a low-carbon carbon-resilient economy.

Financing impactful firms

The broader consensus move to NZ creates investment opportunities in select sectors targeted as priorities by large asset owners and corporations.

While many large companies are creating meaningful in-house contributions to the climate transition, some of the most impactful solutions are coming from entrepreneurs within fragmented, under-financed markets working directly with corporate partners.

Such corporate consumers of sustainable goods and services often find it more accretive to purchase and scale an externally sourced product or service than to allocate such development to balance sheet.

While equity is a necessary component of business development, particularly in funding earlier stage technological and business development activities, properly structured private credit capital can help catalyse growth.

Drawing on structured, specialty and infrastructure finance methodologies, private lenders can provide well-covenanted tailored liquidity to borrowers not typically available in public markets.

As enterprises seek to scale disruptive climate solutions, access to low-cost capital will remain a key driver of a virtuous cycle of asset creation.

Sustainable private asset managers have an obligation to be more than simply capital providers to their partners; they can help create mutual value through influencing corporate behaviours and actions.

Managers can provide guidance and technical support to growing enterprises seeking to overcome various challenges, including United Nations sustainable development goals (SDG) alignment; regulatory frameworks compliance; key performance indicator (KPI) transparency and environmental, social and governance (ESG) risk management.

Lombard Odier today sees increasingly active conversations around the issues of stewardship and engagement among its investee and investor partners, and we expect that collaboration to grow in 2022 and beyond.

Climate commitment

The forces driving the NZ transition are clear. COP26 provided further evidence of policy and social tipping points for recommitting to the Paris Agreement’s 1.5 degrees threshold.

The private sector is delivering novel solutions today to profitably adapt and reduce carbon emissions, while improving resilience.

Frameworks such as Rockström’s planetary boundaries provide a guide for investors who seek businesses that are adapting their business models to be profitable in a sustainable future.

“There is no question about the direction of travel anymore,” Rockström said. “The question is: can we act fast enough in order to land in a safe operating space for humanity?”

Much of the answer lies in action within the real economy, where private credit is essential to catalysing and scaling additional impact.

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(AU The Guardian) ‘Extreme Marine Heatwave’: Waters Off Sydney Set To Break January Temperature Records

The Guardian

Satellite data shows ocean surface 3C above normal as swimmers say water feels more like February and March

Surfers at Manly beach. Global heating, La Nina and atmospheric conditions are believed to be behind an extreme marine heatwave off Sydney. Photograph: Bianca de Marchi/AAP

Waters off Sydney are undergoing an extreme marine heatwave with temperatures likely at their highest levels on record for January.

Satellite data is showing the ocean surface off the coast of Sydney at 3C above normal, with swimmers and surfers reporting conditions that feel more like February and March than early January.

Prof Moninya Roughan, an oceanographer at the University of New South Wales and an expert in marine heatwaves, said the hottest water was covering an area of about 200sq km.

Roughan is waiting until new data becomes available in the coming weeks from a long-term ocean temperature monitoring station at Port Hacking, where temperatures have been observed since the 1950s.

But she said: “It appears now to be reaching those record levels and will likely be the hottest January on record. It’s an extreme marine heatwave.”

She said there were three factors behind the extra heat.

Global heating was pushing up background temperatures in the ocean, a La Nina weather system was helping transport warmer waters south, and atmospheric conditions were also playing a role.

“Marine heatwaves are having severe consequences on ecosystems and they can kill habitats,” she said.

An ocean heatwave depicted in this map off the coast of NSW. Photograph: OceanCurrent

She expected a large eddy would break off from the tip of the current and take warmer waters south of Sydney.

“I expect that water will hang around and push south over the coming months,” she said.

Prof Rob Harcourt, a marine ecologist at Macquarie University in Sydney, regularly surfs off Sydney beaches.

“It’s been over 21C in the water for over a month now. Everyone that surfs has been talking for weeks about how it’s felt more like February and March than December [when the heat started to build].”

He said the warmer water was likely bringing bull and tiger sharks into the area and also farther south. Other species would also likely be arriving on the warmer waters.

Harcourt said while some species may benefit from warming oceans, the change in ocean temperatures along the eastern coast of Australia was dramatic.

“A lot of animals will do poorly. A lot of animals that live in cooler waters, like seals and sharks, have a habitat that’s shrinking fast and the implications are hard to measure, but it’s likely to be dramatic.”

He said in recent weeks whale sharks had been spotted north of Sydney and tiger and great white sharks had been seen feeding off a sperm whale carcass on the state’s far south coast.

“Whale sharks do come down the coast but they’re rare,” he said. He said warm water arriving on the current was nothing new, but this arrival was particularly early and was unusually warm.

Research in the journal Nature has found marine heatwaves around the globe are becoming more frequent and are lasting longer.

Separate research suggests the southern points of the East Australian Current are also warming faster than the area farther north.

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06/01/2022

(AU The Guardian) La Niña Weather Pattern Keeps Temperatures In Australia Down But 2021 Still Hotter Than Average

The Guardian

One of the warmest La Niña years on record continues long-term heating being driven by climate change, climatologist says

Weather data from the Bureau of Meteorology shows 2021 was ‘a signature La Niña over Australia’, climatologist Neil Plummer says. Photograph: Dan Himbrechts/AAP

Australia’s 2021 was its coolest year since 2012, but still half a degree hotter than average according to data from the Bureau of Meteorology. A dominant La Niña weather pattern kept temperatures lower than in recent years and total rainfall across the country was only slightly higher than average.

Across the bureau’s temperature records going back to 1910, 2021 was the 17th hottest, with the national temperature 0.56C warmer than the average between 1961 and 1990.

Australia has not had a year where the temperature was below the long-term average since 2000. The hottest year on record is 2019, which was 1.51C above average.

The data shows 2021 was the 28th wettest year nationwide since 1900 with a total of 507mm – only slightly above the annual average of 466mm. The wettest year on record remains 1974, when the bureau’s records show 760mm fell.

Neil Plummer, a climatologist and consultant at Monash University’s climate change communication research hub, said 2021 had been a “signature La Niña” year.

“We get a lot of stronger south-easterly winds flowing in to tropical areas and we get more convection and more high clouds and more rainfall in northern and eastern Australia.

“That’s what we’ve seen since the back end of 2020. This is a signature La Niña over Australia.”

New South Wales and the ACT had the coolest year since 1996, with the overall temperature only 0.15C above average.

NSW recorded its wettest November since at least 1900, and 2021 was its sixth wettest year on record.

A pedestrian crosses the street in the Sydney CBD. NSW recorded its wettest November since at least 1900, and 2021 was its sixth wettest year on record. Photograph: Dan Himbrechts/AAP

In Victoria, the average temperature was the lowest since 2004, but still 0.26C above average. Rainfall was 36mm above the state’s annual average of 663mm. Queensland’s statewide temperature was 1C above average, making it the coolest year since 2012. Rainfall was also slightly above average.

Western Australia, Tasmania, the Northern Territory and South Australia were all slightly warmer than average. The only state and territory to record below average rainfall was South Australia, which dipped below its average by just 4mm.

The bureau declared the La Niña in November. Plummer, a former head of climate services at the bureau, said 2021 was one of the warmest La Niña years on record and continued the long-term heating being driven by climate change.

“There’s a very clear warming trend in Australia,” he said. “There is no doubt that the climate risks are continuing to build.

“Even though this 0.56C [above average] in 2021 is less than we’ve seen for a decade, that’s still giving us an almost straight line warming trend since 1950.

“It is remarkable that we no longer see strong negative temperature anomalies. I wouldn’t say they’ve disappeared, but it’s going to be increasingly hard to get them.”

The bureau will release more information about the climate of 2021 later this week.

Last month the bureau’s climate outlook for the next three months said there was an increased chance of “unusually high minimum temperatures” for January to March over much of the country.

Rainfall was likely to be above average for eastern Australia, with northern Queensland and coastal NSW in particular having a very wet January to March.

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(WIRED) To Fight Climate Change, First You Need To Measure It

WIRED -  

Scientists at the UK’s National Physical Laboratory are using monitoring equipment to track our impact on the planet more accurately than ever before.

Photograph: J.L. Lee/NIST

From devastating wildfires to polar bears clinging to melting ice floes, there’s no shortage of shocking images to illustrate the need for action on climate change. But collecting reliable data to track the rate of change—and help determine how to tackle it—is much less straightforward.

Scientists at the National Physical Laboratory in Teddington, South West London, are using precise monitoring equipment to measure pollutants and track our impact on the planet more accurately than ever before.

The lab's latest tool is Boreas, a laser spectrometer designed to collect and analyze methane—a greenhouse gas emitted by dozens of human activities, from agriculture to burning fuel. At an unassuming telecommunications tower in Heathfield, Surrey, Boreas works 24 hours a day in all weather conditions to sample large volumes of air.

The machine uses a length of tubing filled with fine plastic beads, which is then cooled to -160 degrees Celsius, allowing researchers back at NPL headquarters to cryogenically separate the methane particles from oxygen and nitrogen, which freeze at much lower temperatures.

The aim is to determine the relative concentration of different methane molecules and gain a better understanding of where the pollutants are coming from, explains Emmal Safi, a higher research scientist at NPL. “While previous devices have been able to measure methane concentrations, that data alone doesn’t tell us much about what the source of methane is,” she says.

Methane is a molecule composed of one carbon atom surrounded by four hydrogen atoms (its chemical formula is CH4). There are, however, different types of methane in the air, called methane isotopologues. “Different processes make methane with very small differences in the relative amount of each isotopologue, so the relative proportion of each can be used as a signature to determine its source,” says Safi.

So far, the readings are showing researchers what they’d expected: “We are seeing methane that has the signature of the northern hemisphere background—relatively clean air from the Atlantic—and some local agricultural sources,” says Chris Rennick, also a higher research scientist on the Boreas team. “It depends on the direction of the wind on any given day.

What makes Boreas unique is its potential: In the future, NPL hopes to build more devices like it and deploy them to different regions, including the Arctic, where potentially large amounts of methane could be trapped in permafrost.

“We’re using the data from our Heathfield lab to contribute to the UK’s methane emissions estimates,” Rennick explains. “However, there are many other networks in many other countries which would also benefit from the measurements that Boreas can make—this would allow the instrument to help reduce global methane emissions.”

Boreas is one of dozens of unique pieces of equipment measuring pollutants at NPL. One of the most historically significant is the Kibble Balance, a set of high-precision scales developed in the 1970s to compare electrical and mechanical power. Fifty years on, the device is used to weigh individual air particles to determine methane concentrations.

The key role of researchers such as those working on Boreas is not to conduct climate research, however, or even to present evidence of climate change itself. They are metrologists by trade—there to study and monitor the science of measurement to keep the science as accurate as possible.

How Animals Are Evolving Because of Climate Change

In doing so, metrologists act as the gatekeepers to “absolute truth” as Richard Barker, head of energy and environment at NPL, describes it. “Scientific measurement is the discipline trying to get as close to the truth as possible,” he explains. “What we do is figure out how close are we to that?”

If that sounds philosophical, it is. Most of us will never question why a gram is a gram or a kilometer is a kilometer. But for metrologists like Barker, the accuracy of these measurements is an ever-evolving conversation. When world leaders met in Glasgow to discuss climate action at COP26, Barker was there too, making the case for greater accuracy in scientific measurement.

Historically, NPL has been responsible for calibrating the way we measure and determining the terms with which we do so—grams, meters, seconds, and so on. More recently, the lab has named greenhouse gas emissions measurement as one of its key focus areas.

The move came from a growing realization that predictions about the rate of climate change were being made purely on statistical modeling, with no indication of certainty. “Just look at the magnitude of the questions that we're asking and the scale of investment that governments and industry are going to have to make to address climate change—we are talking trillions of dollars,” Barker says. “It raises this question of how close to the truth are we?”

While scientists can take a measurement such as sea temperature and recognize an increase, the variability caused by external factors and unreliability of instruments used means that it typically takes 20 years for a trend like rising sea temperatures to be agreed upon as fact—which doesn’t leave much time for nations to meet net zero targets.

Barker has an even bigger idea up his sleeve: Through the European Space Agency’s Truths Mission, the NPL plans to send reference equipment into space to allow satellite measurements to be recalibrated in orbit. The hope is that the mission will create a tenfold improvement in the accuracy of environmental observation data.

Ultimately, scientists will no longer have to wait so long to make forecasts or determine a trend in temperature changes—which could have a major impact on the pace of climate action. “Metrology is largely invisible, but it’s integral to all that scientists do,” Barker says.

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(Japan Times) Climate Change Is Also A Very Real Public Health Emergency

Japan TimesCesar Chelala

People of all ages are at risk from global warming, particularly those with underlying health conditions

A person poses for a photo next to a thermometer in Death Valley, California, on July 11. | REUTERS

Several U.N. reports on climate change have warned the world of the dramatic consequences that could befall the environment, the planet and human survival if increasing global warming trends continue.

As stated in an editorial in the medical journal The Lancet, “Acting on the climate crisis is a clear, yet still neglected, priority for public health.”

According to the National Oceanic and Atmospheric Administration, 2020 was Earth’s second hottest for the past 140 years. Furthermore, 19 of the warmest years on record have occurred since 2000. The impact of these increasing global warming trends has been considerable on people of all ages, particularly the most vulnerable and those with underlying health conditions.

The estimated annual deaths attributed to climate change by the World Health Organization totaled around 150,000. Between the years 2030 to 2050, this number could rise to as high as 250,000 deaths. Most of those fatalities will result from heat stress, malnutrition, malaria and intestinal and respiratory infections, particularly in children from developing countries.

Climate change impacts negatively on social and environmental determinants of health such as clean air, safe drinking water, nutritious food and safe shelter. The direct costs of failing health conditions caused or worsened as a result of climate change is estimated by the WHO at $2 billion to $4 billion by 2030.

It is possible that climate change may bring some benefits, such as fewer deaths during winter in some climates, as well as increased food production in areas free from the rigors of cold weather. However, some assessments of the consequences of global warming show that most of them will be negative.

The WHO reports that globally the number of weather-related natural disasters has more than tripled since the 1960s. Natural disasters force people to move, which increases the likelihood of negative health effects from communicable diseases, mental health disorders and other ailments.

Ever more frequent heat waves increases the likelihood of illnesses and hospitalizations. In July, temperatures in California’s Death Valley hit above 54 degrees Celsius (130 degrees Fahrenheit), nearly beating the 56.6 record set in 1913. A study commissioned by the American Association of Retired Persons concluded that hospital admissions and emergency-room visits for kidney failure, urinary tract infections and other health problems increase significantly for older adults during heat waves.

Extremely high temperatures increase ground-level ozone concentrations that can lead to serious respiratory diseases such as asthma, emphysema and chronic obstructive pulmonary disease. Global warming also increases the number of infectious diseases carried by ticks, mosquitoes and other insects.

Rising sea levels and floods not only destroy homes, they can also wreak havoc on medical facilities and other health and social services. Flooding contaminates freshwater supplies, thus increasing the risk of water-borne diseases.

The tremendous challenge of climate change demands proper government policies to lower reliance on fossil fuels. The policies that must be implemented are known; what is necessary is the political will to put them into action. While most world leaders might recognize climate threats to people’s health, their current actions are deeply insufficient, states The Lancet medical journal.

It is necessary to increase individual resilience and be ready to face adverse events by boosting personal preparedness, strengthening social and family connections, and creating and/or strengthening supportive mental health environments.

The COVID-19 pandemic has taught us that only by acting as a community can we solve global threats.

Climate change will not only affect our health and quality of life; it threatens our survival.

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05/01/2022

(AU Shepparton News) Volunteer Fire Brigade Council Warns Of Increased Fire Danger Caused By Climate Change

Shepparton News

Dangerous: VFBV members have warned climate change is driving more intense fires, more often, which are now starting 50 days earlier, on average, than just 70 years ago. Photo by AAP Image/Julian Smith

The weather conditions that drove the Black Summer fires will be four times more likely under forecast levels of climate change.

Those are the words of Wangaratta volunteer firefighter, Garry Nash, speaking as President of District 23 Council of Volunteer Fire Brigades Victoria.

“That’s what we firefighters face if nothing is done,” Mr Nash said in response to a recent CSIRO report showing that changes in weather because of global warming were the main driving force behind the escalation in Australia’s bushfires.

“Despite forecast summer rains, we know the long-term trend is clear.

“Climate change is bringing more intense fires, more often, and starting an average of 50 days earlier than 70 years ago.”

Mr Nash was launching a statewide communication to CFA volunteers on the impact of climate change seeking their responses.

District 23 VFBV Council, representing CFA volunteers around Wangaratta, Benalla, Moyhu and Mansfield, is informing volunteer firefighters of the findings of a webinar it conducted in 2021.

The webinar heard from Bureau of Meteorology scientist Dr Lynette Bettio, cardiologist Dr Arnagretta Hunter, and economist and businessman Dr John Hewson.

From their respective areas of expertise, the presenters provided research data on weather, health, and economic effects of climate change so far, as well as projections into the future.

Dr Bettio concluded with the alarming finding that Australia’s warming during the next decade was already set by historical greenhouse gas emissions in the atmosphere.

Dr Hunter reported on research on the health effects on people when exposed to weeks of high temperatures, on their work, mental health, concentration and decision-making.

She said communities needed to look at what might happen with temperatures of 50 degrees.

Dr Hewson provided costs of recent extreme-weather events, and projections of future costs, which he said far outweighed the costs of getting to net-zero greenhouse gas emissions by 2050.

He was optimistic about Australia’s future provided we completed the transition to renewable energy and the electrification of the transport fleet.

The VFBV consultation has started communication to all of Victoria’s District VFBV Councils, including a link to the actual webinar as well as a summary document, with a request to include all of its local CFA brigades to consider the webinar presentation, and provide feedback in early 2022.

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Lethal Heating is a citizens' initiative