- Multiple scientific studies indicate that concern about climate change is having impacts on values of real estate that may be exposed to flooding. This is especially evidenced by beachfront real estate markets. Not surprisingly, property owners who see increased coastal flooding due to slowly rising sea levels are moving to higher ground. [CNN]
- In 2017, the world set a new record for renewable-power capacity added to the grid. In fact, the money spent on renewable installations was more than twice the sum spent on nuclear and fossil-fuel power, according to the annual Global Status Report published by renewables policy group REN21. But it was not enough to reduce emissions. [Quartz]
- Institutional investors managing $26 trillion in assets called on Group of Seven leaders to phase out the use of coal in power generation to help limit climate change. Their call came despite strong opposition from Washington. They wrote that the Paris Agreement plans to cut greenhouse gas emissions were too weak to limit warming. [GMA News]
- The White House’s press service gave a statement in response to media reports about the plan to support uncompetitive coal and nuclear plants. It said, “Impending retirements of fuel-secure power facilities are leading to a rapid depletion of a critical part of our nation’s energy mix, and impacting the resilience of our power grid.” [Renewables Now]
- Wind farms produced 24.1% of Spain’s power in the first five months of 2018, more than any other energy source, while nuclear power plants came second with a share of 20.8%. Total of 46.4% of the country’s electricity in the period came from renewable energy sources, according to provisional statistics from the grid operator. [Renewables Now]