Bracken Hendricks: The Climate Movement Must 'Demand a Vision of a Future We Want to Live In'

Posted by Brad Johnson Fri, 01 Nov 2013 00:41:00 GMT

At a Sandy anniversary panel organized by Forecast the Facts, Center for American Progress senior fellow Bracken Hendricks described how society needs to not only divest from climate-polluting fossil fuels but also invest in a sustainable, equitable future.

“The fight against the bad stuff and pulling that money back has to happen. I want to really drive home a second piece of this: We need to know what we want. Because it’s not enough to know what we don’t want. And we need to get very busy building it, and we need to demand it.”

“Demand that people focus on the pain and demand that people focus on what we need instead.”

“We need to be smart enough and insistent enough to demand a vision of a future we want to live in. It’s not enough to oppose what we know is going to hurt us.”

“The anniversary of Sandy in lower Manhattan is really a time to look at Wall Street, and how we can come together as people and have our collective voice be strong enough to make a difference in the face of very large pools of capital that, without us, are going to make a very grave mistake.”

Bracken Hendricks (@HendricksB) is a Senior Fellow at the Center for American Progress and works at the interface of global warming solutions and economic development. Hendricks was an architect of clean-energy portions of the American Recovery and Reinvestment Act. He was founding executive director of the Apollo Alliance and has served as an energy and economic advisor to the AFL-CIO, Pennsylvania Governor Ed Rendell’s Energy Advisory Task Force, and numerous other federal, state, and local policymakers and elected officials.

The Forecast the Facts forum, “Turning the Tide: The Challenge And Promise Of Carbon Divestment for a Post-Sandy Wall Street,” took place on Sunday, October 29, at Cooper Union’s Rose Auditorium in New York City, with panelists from the Center for American Progress, Next Generation, and NYU Divest.

Strategist James Slezak: The Fossil-Fuel Industry Needs To Be Liquidated

Posted by Brad Johnson Thu, 31 Oct 2013 19:39:00 GMT

At a Sandy anniversary panel organized by Forecast the Facts, climate and economic expert James Slezak says that investors should recognize that the fossil-fuel industry will go the way of the horse-and-buggy. Oil and coal companies, Dr. Slezak said, are “bad investments” that “don’t have the right capabilities or the right assets” to become renewable energy companies. Therefore, these companies should “liquidated” and their assets “wound up.”

One dangerous myth is that the BPs, the Exxons, the coal interests of the world are just energy companies and we just need to let them see why really, the future of energy is in renewables and they should be the renewable energy companies of the future. Don’t get me wrong, renewable energy is the future and needs to be quickly what replaces those companies. But I don’t think those companies are going to be the renewable energy companies of the future.

When you look at what these companies actually do, with a business hat on, and say I’m going to place a bet on the future on who’s going to win the race — Take solar for example. It’s a high-tech semiconductor industry. It’s not what dudes with hard hats on in the middle of the North Sea are good at, and it’s not where you would expect money to go.

We have to be a little bit harder on them. And make it clear why they’re such bad investments. They’re not going to win the race to develop solar. They don’t have the right capabilities, the right assets. They need to be wound up. They need to be liquidated. Their assets need to be wound up.

That sounds like a crazy, radical point of view, but you can look at multiple industries that the market just naturally wound up. The horse and buggy. New York’s streets were first lit with whale oil. True fact. Look it up. No one lamented those industries going. The typewriter industry wasn’t the industry that became the computer industry. These guys are going to go. The sooner the better, I think. And we don’t want to give them an escape route.

James Slezak (@jslez) is a social entrepreneur, author, and co-founder of Peers.org, a member-driven organization to support the sharing economy. He was previously a founding executive team member and partner at Purpose.com, and consultant at McKinsey & Company, where he led projects on sustainability, technology and economic development. He is co-author of the book Climate Change and Australia, as well as public reports on the economics of carbon emissions reduction released by McKinsey. James holds a PhD in Physics and was an affiliate at Harvard’s Berkman Center for Internet and Society.

The Forecast the Facts forum, “Turning the Tide: The Challenge And Promise Of Carbon Divestment for a Post-Sandy Wall Street,” took place on Sunday, October 29, at Cooper Union’s Rose Auditorium in New York City, with panelists from the Center for American Progress, Next Generation, and NYU Divest.

Fox Business Marks Sandy Anniversary with Climate Denial

Posted by Brad Johnson Tue, 29 Oct 2013 06:13:00 GMT

On the one year anniversary of the catastrophic Hurricane Sandy, Rupert Murdoch’s Fox Business Network is promoting the conspiracy theory that climate science is a liberal fiction. Fox Business host Stuart Varney railed against the “global warming agenda” of the “mainstream media.”
It is one year since Hurricane Sandy ravaged the east coast. The mainstream media continues to use the storm to push a global warming agenda.

Watch it:

Varney’s guest, the conservative Media Research Center’s Dan Gainor, complained that of the 32 segments in network news his group found that mentioned Sandy and global warming, only two questioned the overwhelming science that the increasing greenhouse effect from the combustion of fossil fuels is accelerating sea level rise and making weather more extreme and chaotic. Despite numerous scientific attribution studies on wildfires, heat waves, droughts, and storms that have found global warming fingerprints, Gainor falsely claimed that “we cannot link climate change or global warming to a specific event.” He furthermore dismissed the decades of work by thousands of scientists in all earth-science disciplines that provide our understanding of climate change as “stuff” and “guesswork.”

Gainor did not emphasize that his organization found only 32 mentions of climate change and Sandy in an entire year of network news coverage. (In contrast, for example, there were 52 segments on Iran’s nuclear program in five months of network news coverage from November 2011 to March 2012.)

Climate denial is rampant in the financial press, not just the media organs owned by Murdoch like Fox and the Wall Street Journal. Forbes regularly publishes climate-denial columns, and Reuters editors are openly hostile to climate science. And Comcast’s CNBC features hosts such as Joe Kernen, who argues that the findings of climate science are a plot concocted by a “bonafide cult” of “enviro-socialists” and the “eco-taliban.”

Varney and Gainor also bemoaned the public stand the Los Angeles Times has taken against global warming denial in its opinion pages. Over 25,000 people have signed a petition from climate accountability organization Forecast the Facts calling on the nation’s other major papers, including the New York Times, USA Today, and the Washington Post, to follow suit.

Turning the TideOn Sunday, Forecast the Facts hosted a forum held in downtown New York City looking at the role of Wall Street in financing the climate change that threatens New York’s future prosperity. The panelists of the Turning the Tide forum, including Center for American Progress senior fellow Bracken Hendricks, Tom Steyer advisor Kate Gordon, and New Economy Lab’s James Slezak, discussed how the financial industry needs to reject the anti-scientific arguments pushed by Murdoch’s media properties and David H. Koch’s network of think tanks and advocacy groups.

Gordon cited the Risky Business initative, led by Steyer, Michael Bloomberg, and former Treasury Secretary Hank Paulson. The initiative, Gordon explained, is meant not only to provide an economic assessment of the risk exposure different companies and industries have to manmade global warming, but also to change the culture of the financial sector. With that goal in mind, influential Republicans and conservatives who accept the basic science of climate change have been courted.

Wall Street is at a crossroads, all the panelists agreed. On the path of fossil-fuel companies and climate deniers like New York City’s richest man, carbon financier David H. Koch, lies accelerating sea level rise and intensifying storms that will swamp the islands of New York City. But the investors and analysts can choose another path, recognize the science, and invest in a sustainable future that will save their city.

Fox Business Network Transcript:

VARNEY: It is one year since Hurricane Sandy ravaged the east coast. The mainstream media continues to use the storm to push a global warming agenda. Dan Gainor from the Media Research Center is here. He’s done the study. Dan, I think first of all you have some numbers on the stories run by the broadcast networks on Sandy. Go.

GAINOR: A year after we have seen all of this devastation, what we find is that every single time in the stories where they talk about Sandy and global warming or climate change, they are linking the two. Yet we have seen experts for years telling us that we cannot link climate change or global warming to a specific event. It is okay when they do it.

VARNEY: Hold on. Wait a second. Was there any counter opinion offered on the story? You looked at 32 stories. 100 percent of them linked climate change to Hurricane Sandy. Did anyone come on and say, hold on a second, hold on a second, it is not that clear-cut, there’s another point of view? Did anybody?

GAINOR: No. They did not have anyone on. and in only two of the stories, 6 percent of the time, that they even had the most casual mention. That is the extent. They never had anyone on who would disagree, and there are a lot of people who disagree, obviously.

VARNEY: I want you to listen to what the Los Angeles Times said, an editorial, I think it’s from the editor of Los Angeles Times: “Simply put I do my best to keep errors of fact of the letters page.” Saying, “There is no sign humans have caused climate change is not stating in opinion, it’s asserting a factual inaccuracy.” The L.A. Times will no longer accept letters from global warming skeptics. What do you say to that, Dan?

GAINOR: It is more media censorship. At least they are honest about it, they’re honest that they will not let anybody have a counter opinion. All of this stuff is based on predictions. The predictions thus far have been consistently wrong. And yet they’re saying, “We’ve been wrong, we are wrong, we are wrong. But next time down the road, then you can expect we will be right.” They’re expecting anywhere from one to 3% of world GDP to be spent on climate change. They’re doing it based on guesswork.