Final insured losses for “Black Summer” bushfires of 2019/2020 in Australia estimated at A$1.866 billion

Map showing market losses per postcode in the “Black Summer” bushfires in Australia, 30 December 2019 - 5 January 2020. Graphic: PERILS AG

January 18, 2021

Final insured losses for “Black Summer” bushfires of 2019/2020 in Australia estimated at A$1.866 billion

ZURICH, 6 January 2021 (PERILS) – PERILS, the independent Zurich-based organisation providing industry-wide catastrophe insurance data, has today disclosed its fourth and final industry loss estimate for the Australian bushfires of 2019/2020. The final estimate of the insurance market loss is AUD 1,866m. This compares to the third loss estimate of AUD 1,861 million which […]

Satellite view of wildfires on the U.S. West Coast between 12 September 2020 and 16 September 2020. Video: Michael Benson / CIRA / NOAA

December 30, 2020

Watching Earth burn – “The war has started. We’re losing.”

By Michael Benson 28 December 2020 (The New York Times) – I have a pastime, one that used to give me considerable pleasure, but lately it has morphed into a source of anxiety, even horror: earth-watching. Let me explain. The earth from space is an incomparably lovely sight. I mean the whole planet, pole to […]

A worker stands outside a construction site of the Xinzhuang coal mine that is part of Huaneng Group’s integrated coal power project, on 30 September 2020. Photo: Thomas Peter / Reuters

December 26, 2020

China rations electricity for millions – “The whole city was dark”

By Vivian Wang 21 December 2020 (The New York Times) – In the city of Yiwu in eastern China, the authorities turned off streetlights for several days and ordered factories to open only part-time. In coastal Wenzhou, the government ordered some companies not to heat their offices unless temperatures are close to freezing. In southern […]

Distribution of major tax cuts for the rich across OECD nations, 1965-2015. This figure visualizes the resulting binary variable that picks out years in which taxes on the rich were reduced substantially. In total, we identify 30 country-year observations where taxes on the rich were significantly reduced. Governments enacted major tax reforms in all countries in our sample and across the whole observation period. Many countries implemented major tax cuts for the rich in the late 1980s. Furthermore, the identification of tax cuts is also in line with previous studies that have focused on income tax progressivity (Rubolino and Waldenström, 2020) or on overall tax progressivity single specific countries (Saez and Zucman, 2019). For instance, echoing these authors’ findings, we find two major reforms that reduced taxes on the rich in the US: 1982 (First Reagan Tax Cut) and 1986/1987 (Second Reagan Tax Cut). Graphic: Hope and Limberg, 2020 / LSE

December 25, 2020

Tax breaks for the rich don’t boost the economy – “Our research shows that the economic case for keeping taxes on the rich low is weak”

16 December 2020 (LSE) – Major reforms reducing taxes on the rich lead to higher income inequality but do not have any significant effect on economic growth or unemployment, according to new research by LSE and King’s College London. Researchers say governments seeking to restore public finances following the COVID-19 crisis should therefore not be […]

GOES-17 satellite view of the largest known stratospheric smoke injection, from Australia wildfires, 2 January 2020. This photo shows the first phase (29-31 December 2019) of the Australian New Year Super Outbreak (Anyso), which had unprecedented fire and pyrocumulonimbus cloud (pyroCb) activity. this event was the first known pyroCb “super outbreak”, with 32 updrafts over ~45hrs (day and night). Previous events recorded less than 10 updrafts in less than 24 hours. Photo: CIRA

December 16, 2020

Towering pyrocumulonimbus clouds can spew as much aerosol as volcanic eruptions – The Australian 2019-2020 outbreak exceeded previously unprecedented events “on almost every level”

By Carolyn Gramling 15 December 2020 (Science News) – A massive tower of smoke generated by Australian wildfires in late 2019 set a new record for the loftiest and largest fire-spawned thunderstorms ever measured. It also may represent a new class of volcanic-scale “pyrocumulonimbus” events, scientists said in an online news conference 11 December 2020 at […]

Screenshot from “Honest Government Ad: Kyoto Carryover Credits” by The Juice Media. Photo: The Juice Media

December 13, 2020

Honest Government Ad: Australia’s Kyoto Carryover Credits

By Giordano Nanni 11 December 2020 (The Juice Media) – This is a special double-length Honest Government Ad, featuring our first-ever time-travel historical sequence, because there’s just so much shitfuckery to cover. Hence why it took us a little longer than usual to research, write, and make this one. I had of course heard about […]

Global map of temperature anomalies relative to the 1981-2010 long-term average from the ERA5 reanalysis for January to October 2020. Graphic: Copernicus Climate Change Service / ECMWF

December 2, 2020

WMO: 2020 on track to be one of three warmest years on record – More than 80 percent of the global ocean experienced a marine heatwave in 2020

GENEVA, 2 December 2020 (WMO) – Climate change continued its relentless march in 2020, which is on track to be one of the three warmest years on record. 2011-2020 will be the warmest decade on record, with the warmest six years all being since 2015, according to the World Meteorological Organization. Ocean heat is at […]

World consumption of primary energy in exajoules, 1994-2019. Primary energy consumption rose by 1.3 percent in 2019, less than half its rate in 2018 (2.8 percent). Growth was driven by renewables (3.2 EJ) and natural gas (2.8 EJ), which together contributed three quarters of the increase. All fuels grew at a slower rate than their 10-year averages, apart from nuclear, with coal consumption falling for the fourth time in six years (-0.9 EJ). By region, consumption fell in North America, Europe and CIS, and growth was below average in South and Central America. In the other regions, growth was roughly in line with historical averages. China was the biggest individual driver of primary energy growth, accounting for more than three quarters of net global growth. Oil continues to hold the largest share of the energy mix (33.1 percent). Coal is the second largest fuel but lost share in 2019 to account for 27.0 percent, its lowest level since 2003. The share of both natural gas and renewables rose to record highs of 24.2 percent and 5.0 percent respectively. Renewables has now overtaken nuclear, which makes up only 4.3 percent of the energy mix. The share of hydroelectricity has been stable at around 6 percent for several years. Graphic: BP

June 18, 2020

BP Statistical Review of World Energy 2020: Carbon emissions increase for another year, coal still the single largest source of power generation

By Bernard Looney 17 June 2020 (BP) – The COVID-19 pandemic may well turn out to be the most tragic and disruptive event that many of us will ever live through. As I write this – in the middle of June – over 400 thousand people globally have lost their lives to the infection. Millions […]

Screenshot from “Honest Government Ad: Economic Recovery”. Photo: The Juice Media

June 9, 2020

Honest Government Ad: Economic Recovery in Australia

4 June 2020 (The Juice Media) – Hello, I’m from the Australian government. As we head into the worst economic recession in living history, what the nation needs now is leadership, evidence-based policies, and bold vision. And fucked if we have those. So instead, we’ve cooked up something else. That’s right, while you’ve been in […]

Coastal erosion encroaches on a house in Happisburgh, Norfolk, UK. Photo: Philip Bird, LRPS CPAGB / Shutterstock

March 21, 2020

15 towns being slowly swallowed by the sea – Coastal communities fighting a losing battle with the ocean

4 March 2020 (Love Property) – Positioned on the frontline of climate change, the world’s most vulnerable shoreline communities face an uncertain future. Plagued by ever-worsening coastal erosion and rising sea levels, their existence hangs precariously in the balance. As the tide continues to draw in, take a look at 15 towns being gradually reclaimed […]

Desdemona Despair

Tag: Australia