economics
Newsletter
Photo by Pedro Henrique Santos on Unsplash
The cultural legacy of coal mining and its relevance to renewable energy
Coal mining, while hazardous and polluting, fostered strong community bonds and cultural pride that could be emulated in the renewable energy sector.
In short:
- Coal mining in the UK has ended, leaving a significant cultural and community legacy.
- Renewable energy projects, such as wind farms, may not require as many local workers but still offer opportunities for community identity.
- Community Energy projects enable local involvement and benefits from renewable energy production.
Key quote:
“They were tough men. And they were proud of it, proud of every minute of it. It ruined people, it broke people. And one of those people was my grandad.”
— Kate Rusby, Yorkshire folk-singer
Why this matters:
Transitioning to clean energy must consider the social and cultural impacts on communities historically dependent on coal. Embracing community-driven energy projects can preserve the sense of pride and belonging once found in coal mining towns.
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Credit: Sam Felder/Flickr
Plastic Free July needs systemic change, not just consumer action
A recent analysis argues that while Plastic Free July aims to reduce plastic use, significant impact requires action from governments and companies, not just consumers.
In short:
- Individual efforts during Plastic Free July are insufficient to address plastic pollution without systemic changes.
- Governments and corporations must implement regulations and redesign production and distribution systems to reduce plastic waste.
- Effective solutions need to consider the essential roles plastics play in everyday life and avoid disadvantaging vulnerable communities.
Key quote:
"Consumers shouldn’t have to bear full responsibility for plastic pollution. Individual sacrifices – particularly temporary ones – won’t make a significant difference."
— Bhavna Middha, senior research fellow at the Centre for Urban Research, RMIT University and Ralph Horne, associate deputy vice chancellor of research & innovation at the College of Design & Social Context, RMIT University.
Why this matters:
Focusing solely on consumer action overlooks the need for comprehensive policies and industry accountability to create lasting environmental change. Addressing plastic pollution effectively requires broad, systemic reforms that protect both the environment and vulnerable populations. Read more: A plastic recipe for societal suicide.
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Newsletter
Credit: COP26/Karwai Tang/Flickr
Who funds conservative climate groups
A surprising coalition of philanthropists, including liberal donors, is supporting conservative climate change initiatives to foster bipartisan solutions.
In short:
- Philanthropic donors like the Gates' Breakthrough Energy Foundation and the MacArthur Foundation are funding both liberal and conservative climate groups.
- Conservative groups such as Citizens for Responsible Energy Solutions and the American Conservation Coalition are receiving millions to promote market-based and innovation-driven climate solutions.
- Funders aim to engage Republicans in the climate fight, believing a bipartisan approach is essential for long-lasting climate policies.
Key quote:
“We have been adamant about trying to be nonpartisan but recognizing we do need to be thinking about other political constituencies, other communities and really as broad as we can when we think about equity.”
— Mijo Vodopic, head of the climate program at the MacArthur Foundation
Why this matters:
This funding strategy seeks to unite diverse political perspectives, ensuring comprehensive climate action that can withstand political changes, thereby improving health outcomes and environmental sustainability. Read more: Flood survivors find common ground in a divided nation.
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Newsletter
California receives federal funds to train climate-resilient workforce
California has been awarded $60 million in federal funding to develop a climate-ready workforce across the state, including a $9.5 million investment for Long Beach City College.
In short:
- The U.S. Department of Commerce and NOAA allocated funds to nine states and territories, with California among them, to enhance job training in climate resilience.
- Long Beach City College will create the Los Angeles County Climate Ready Employment Council to focus on training for water and solar sector jobs.
- The initiative aims to prepare a skilled workforce to tackle climate impacts like sea level rise and flooding.
Key quote:
"Climate change accelerates the need for a new generation of skilled workers who can help communities address a wide range of climate impacts."
— Gina Raimondo, U.S. Secretary of Commerce
Why this matters:
As climate change intensifies, there is a growing need for skilled workers to help communities adapt and build resilience against its impacts. Training programs are essential for creating jobs and supporting economic stability while addressing environmental challenges.
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Credit: Kelly Sikkema/Unsplash
Flooding poses growing economic threat with annual costs reaching hundreds of billions
Flooding, increasingly severe due to extreme weather, is costing the U.S. economy between $179.8 and $496 billion annually, according to new Senate Joint Economic Committee data.
In short:
- The annual cost of flooding is now more than 1% of the U.S. GDP, stressing the insurance industry and homeowners.
- Infrastructure upgrades needed for flood protection range from $70 billion to $345 billion.
- Rising sea levels and frequent heavy precipitation are driving increased flood risks linked to human-caused climate change.
Key quote:
“We find around $100 billion in annualized damages to properties due to flood risk.”
— Jeremy Porter, head of climate implications for the research group First Street Foundation
Why this matters:
As climate change intensifies, the economic burden from flooding is expected to grow, affecting businesses, homeowners, and the insurance industry. For families, this means increased insurance premiums and, in many cases, the heart-wrenching decision to relocate. For health professionals, the aftermath of flooding brings a surge in waterborne illnesses and mental health crises. For scientists and regulators, the data is a clarion call to double down on climate resilience strategies, investing in better flood defenses, sustainable urban planning, and robust early warning systems.
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Credit: Maxim Hopman/Unsplash
US imposes tariffs on Chinese electric vehicles to protect domestic industry
President Joe Biden's administration has increased tariffs on Chinese electric vehicles, a move supported by U.S. automakers to shield local jobs and investments from low-cost imports.
In short:
- The Biden administration raised the tariff on Chinese electric vehicles to 100%, aiming to support U.S. electric vehicle and battery production.
- This tariff strategy reflects concerns about China's potential to flood the U.S. market with economically priced electric vehicles, challenging domestic manufacturers.
- U.S. automakers argue that such protective measures are vital for maintaining competitiveness and safeguarding American jobs.
Key quote:
"Today’s announcement is a necessary response to combat the Chinese government’s unfair trade practices that endanger the future of our auto industry."
— Senator Gary Peters, Michigan Democrat
Why this matters:
The move underscores growing unease over China's rapid advancements in the electric vehicle sector, which pose significant competition to U.S. manufacturers. By imposing these tariffs, the U.S. aims to prevent market saturation with cheaper imports, thereby encouraging local production and technological innovation in the burgeoning electric vehicle industry.
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Credit: Nataliya Hora/Big Stock Photo
New tariffs on Chinese goods by the Biden administration amidst campaign tensions
Amidst election-year campaigning, the Biden administration introduces new tariffs targeting Chinese electric vehicles and other key products.
Josh Boak, Fatima Hussein, Paul Wiseman, and Didi Tang report for The Associated Press.
In short:
- The tariffs will impact electric vehicles, advanced batteries, solar cells, steel, aluminum, and medical equipment over the next three years.
- Officials claim the tariffs aim to curb the influence of subsidized Chinese goods in U.S. markets, though their impact on inflation is expected to be minimal.
- Despite administration claims of minimal escalation, China warns of potential retaliatory measures and critiques U.S. protectionism.
Key quote:
“China’s factory-led recovery and weak consumption growth, which are translating into excess capacity and an aggressive search for foreign markets, in tandem with the looming U.S. election season add up to a perfect recipe for escalating U.S. trade fractions with China."
- Eswar Prasad, professor of trade policy at Cornell University
Why this matters:
These tariffs represent a strategic attempt by the U.S. to strengthen its manufacturing sector and reduce dependency on Chinese imports. The move has drawn immediate reactions from various sectors. Economists are debating the potential for these tariffs to ignite a trade war, which could disrupt global supply chains and increase prices for American consumers. From an environmental standpoint, the tariffs on EVs seem counterintuitive to global efforts aimed at reducing carbon emissions.
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