Environment

Barclays has financed $5.6bn in new fossil fuel projects since January

Barclays has financed more in fossil fuel projects than any of the UK’s largest banks in the months leading up to the Cop26 climate talks in Glasgow, according to a report by climate finance campaigners.

The bank financed $5.6bn (£4.1bn) for new fossil fuel projects from January 2021 to the eve of the UN climate summit, Market Forces found, despite growing international warnings that any new fossil developments would destroy any chance of avoiding a catastrophic climate breakdown.

Barclays’ multibillion pound support for fossil fuel projects was ranked ahead of that of HSBC, which financed $5.3bn this year, and Standard Chartered, which made $4.3bn available.

The report found Barclays financed a $194m bond to the Canada-headquartered pipeline company Enbridge, which part-owns the controversial Dakota access pipeline which is expected to carry enough crude oil to produce the emissions of 30 coal plants every year. It also said the bank provided $200m to MEG Energy, which extracts Canadian tar sands oil, one of the most polluting fuels on the planet.

The report also revealed how HSBC and Standard Chartered participated in a $6bn bond issuance to Saudi Aramco, the world’s most polluting company, and that HSBC financed a $1.5bn bond to Qatar Petroleum, which owns the world’s biggest gas field.

The three banks have extended financing to fossil fuel companies despite committing to net zero carbon emissions from financing activity by 2050 and issuing warnings that no new fossil fuel projects are compatible with keeping global heating in check.

The report’s findings came ahead of a series of Cop26 events scheduled for Wednesday that are intended to mobilise public and private finance to help tackle the climate emergency.

Mia Watanabe, a campaigner at Market Forces, said: “Despite their warm words, these banks continue to finance fossil fuel companies and projects that are destroying the world’s hopes of meeting climate targets.”

In a stunt to mark the latest report, Market Forces held a Formula One-style “prize giving” for the banks’ “race to disaster” outside Barclays’ Glasgow offices, which is a stone’s throw from the Cop26 venue.

A previous annual report by the group that tracked global fossil fuel financing found that in the five years after the signing of the Paris agreement, the three banks combined financed more than $257bn in the coal, oil and gas sectors.

That report found Barclays was the world’s seventh-biggest fossil fuel funder, and the biggest in Europe, while HSBC was ranked 13th in the world. Although Standard Chartered trailed at 34 globally, it is also the top UK financier of new coal plants in Asia, according to Market Forces.

The latest report follow news that Jes Staley has stepped down as the chief executive of Barclays after an investigation by City regulators into how he described his relationship with the billionaire sex offender Jeffrey Epstein.

Standard Chartered said last week that it would set “ambitious new targets” to reach net zero from financed activity by 2050, including interim 2030 targets for the most carbon-intensive sectors, that were aligned with the International Energy Agency’s scenario for a net zero energy system by 2050.

The global energy watchdog said in May that there could be no new oil, gas or coal development if the world was to reach net zero by 2050. Only days later a UN report warned that fossil fuel production planned by the world’s governments “vastly” exceeded the limit needed to keep the rise in global heating to 1.5C and avoid the worst impacts of the climate crisis.

“The science is clear – banks that keep funding fossil fuels can’t be climate leaders,” Watanabe added.

A spokesperson for Barclays was not immediately available to comment. A HSBC spokesperson said the bank was “firmly committed” to aligning its provision of finance to net zero by 2050 or sooner. “We have committed to phase out thermal coal financing by 2030 in EU and OECD markets and by 2040 globally and to set out short and medium-term transition targets for the oil and gas and power and utilities sector. We expect to provide between $750bn and $1trn towards the net zero-transition by 2030,” the spokesperson added.

Environment

NiMet predicts dust haze from Thursday to Saturday across Nigeria

The Nigerian Meteorological Agency, NiMet, has predicted dust haze from Thursday to Saturday across Nigeria.

NiMet’s weather outlook released on Wednesday in Abuja envisaged a slight dust haze on Thursday in good visibility throughout the forecast period in the northern region.

The agency said that North central states are expected to experience slight dust haze in good visibility throughout the forecast period.

It envisaged moderate dust haze with visibility range of 2km to 5km throughout the forecast period in the southern parts of the country.

According to it, early morning fog or mist over the coastal areas are expected.

For Thursday, NiMet said a slight dust haze is expected throughout the forecast period in the northern region.

It added that the North central region should be in a slight dust haze throughout the forecast period.

It further stated that in the South, moderate dust haze with visibility range of 2km to 5km is expected throughout the forecast period.

The agency predicted moderate dust haze in the northern region on Friday with visibility range of 2km to 5km throughout the forecast period.

According to NiMet, the North Central should be in moderate dust haze with visibility range of 2km to 5km during the forecast period.

It envisaged early morning fog or mist over the coastal areas of the country while slight dust haze in patches of clouds are expected over the region during the afternoon and evening periods.

NiMet added that dust particles are in suspension and the public should take necessary precaution.

It advised airline operators to get airport-specific weather reports (flight documentation) from it for effective planning

Environment

NEMA warns against bush burning in Harmattan period

The National Emergency Management Agency (NEMA) has warned members of the public against bush burning during the harmattan period to avoid the destruction of property and loss of life.

DAILY POST reports that the NEMA Head of Operations, Edo Office, Ojuedene Kenoma, gave the warning at the training of officials of local governments and volunteers in Edo State on disaster prevention, response, and control measures.

Kenoma said the training was aimed at strengthening disaster preparedness, response, and recovery at the grassroots level.

He opined that disasters such as tanker accidents, fire outbreaks, or other emergencies do not wait for the opportune moment.

“It is essential that “we foster a culture of preparedness, awareness, and response across every level of society, especially at the grassroots level.”

“This workshop is a critical step toward empowering our communities with the knowledge and tools they need to respond to disasters.”

“By training and mobilising volunteers within these communities, our Director-General Zubaida Umar is building a network of emergency responders who can take swift and effective action when emergencies arise.”

“The workshop is aimed at raising public awareness, particularly around the high risks associated with tanker accidents and fire outbreaks, both of which present significant challenges in Edo State,” he said.

He further explained that NEMA is taking disaster management to the grassroots by training local government officials and volunteers at the grassroots level.

He added that the agency expects the participants to cascade the training down to the grassroots and sensitise the local population on how to prevent and respond to fire incidents.

One of the resource persons, Superintendent Asimu Sumaila, in his lecture that safety is everybody’s responsibility and that the knowledge of fire one has determines the chance of survival when it happens.

Sumaila explained that 80 per cent of fire incidents happen as a result of carelessness and negligence by individuals.

He said that in fighting fire disasters, one has to know the right solution to use, as using the wrong solution can create more problems.

He stated that the solution to extinguish ordinary fire is different from PMS (petrol) fire.

“Most people leave their houses without removing appliances from the socket or turning them off, and while burning refuse, people will not be there to control it. The embers from that fire can flow in different directions and ignite fires elsewhere,” he said.

He, however, cautioned the people against leaving their appliances on when leaving home and against bush burning, especially near residential areas, as it can destroy houses and result in loss of lives.

Environment

NiMet forecasts 3-day sunshine and dust haze

The Nigerian Meteorological Agency (NiMet) has forecasted weather conditions featuring sunshine, dust haze, and isolated thunderstorms across the country from Monday to Wednesday.

In its weather outlook, NiMet predicted slight dust haze for the northern region on Monday, with localized visibility expected to range from 2 to 5 kilometers throughout the day.

The North Central region is expected to experience sunny skies with a hazy atmosphere, while the southern region will see sunny skies with patches of clouds. Thunderstorms and light rains are anticipated in parts of Cross River, Rivers, and Akwa Ibom states during the afternoon and evening hours.

On Tuesday, November 26, moderate dust haze is forecasted for the northern region, with localized visibility potentially dropping below 1,000 meters. Slight dust haze is expected in the North Central region, while the southern region is likely to experience sunny skies with scattered clouds. Afternoon and evening thunderstorms, accompanied by light rains, are expected in Lagos, Ogun, Ondo, Delta, Bayelsa, Rivers, Cross River, and Akwa Ibom states.

NiMet’s outlook for Wednesday, November 27, indicates continued moderate dust haze in the northern region, with localized visibility below 1,000 meters. The North Central region will experience slight dust haze, with visibility between 2 to 5 kilometers. The southern region is forecasted to have sunny skies with patches of clouds and potential thunderstorms with light rains in parts of Rivers, Cross River, and Akwa Ibom states.

The agency cautioned the public about suspended dust particles and advised individuals with respiratory conditions, such as asthma, to take precautions during this period.

NiMet also warned of strong winds potentially accompanying thunderstorms in some areas, urging residents to stay safe and adhere to weather advisories.

Airline operators were advised to obtain airport-specific weather reports from NiMet for effective flight planning.