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Global droughts hit Coke’s balance sheet

Today’s top five climate change stories chosen by RTCC
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(Pic: Twicepix/Flickr)

(Pic: Twicepix/Flickr)

1.Coca Cola warns drinks could dry up
Jeffrey Seabright, Coke’s vice president for environment and water resources has told delegates at the World Economic Forum in Davis global droughts are starting to affect its balance sheet. “When we look at our most essential ingredients, we see those events as threats,” he’s reported saying by the New York Times.

2. Fracking will boost UK economy
David Cameron says shale gas exploitation is vital to “make a success of globalisation”. The BBC says UK Prime Minister will tell delegates in Davos today “billions of dollars of energy cost-savings [are] predicted over the next decade” due to the use of shale. Earlier this week the EU outlined new fracking regulations, which analysts say Poland and the UK have ‘watered down’.

3. Green bonds pass $10bn
A record $10bn of green bonds were issued in 2013, reports the Business Green website. It says SEB, BoAML, Morgan Stanley, Credit Agricole and JP Morgan were the main drivers of these investments. Two weeks ago a new set of principles governing the release of Green Bonds were issued.

4. China wind soars
China will remain the leading global consumer of wind turbine rotor blades over the coming years says the New Zealand Carbon News website. It cites the GlobalData service, which says it expects the value of the Chinese market to increase from $2 billion in 2012 to $3.7 billion in 2020.

5. EU opens door to tar sands
Oil from Canada’s carbon-intensive tar sands – one of the world’s single biggest sources of greenhouse gas pollution – could be used in the petrol tanks of European motorists from 2020 after the European Commission proposed to scrap curbs on imports of highly emissions-intensive fuels

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