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It feels like each billionaire these days desires to make their mark on the weather problem.

Primarily, they are on the lookout for a tech correct that does not fundamentally alter the electric power dynamics of world-wide capitalism or threaten their privileged positions. See undertaking capitalist John Doerr location up a climate college at Stanford that will also fortunately get fossil fuel bucks.

A handful ask the more difficult questions. Like: who desires to get rid of for the local weather to gain? Mike Cannon-Brookes, co-founder of application organization Atlassian, falls into this category.

In a market place raid on Australia’s largest polluter, electricity utility AGL, Cannon-Brookes is trying to block a demerger. Why? Mainly because it threatens to keep again the closure of coal energy vegetation.

AGL has a strikingly unambitious 2045 conclusion day for burning coal. And the board’s plan to break up the company into cleanse and soiled strength companies dangers building it more durable to finance a dependable coal exit.

Regardless of whether his 11% stake in AGL is adequate to drive a transform of training course at upcoming month’s shareholder assembly or not, Cannon-Brookes has set climate science firmly on the agenda.

This week’s stories

War windfall

The key argument for providing oil organizations a seat at the weather table is: they have money.

Quite a few posted file profits in the very first quarter of 2022 as Russia’s invasion of Ukraine induced a race to fulfill fossil gasoline desire from much less warmongering sources. The EU is aiming to cease getting Russian oil by the end of the yr.

So Massive Oil will invest that windfall in the changeover to clean up electricity, suitable? Appropriate?

Not in Alberta, Canada, where tar sands producers say the Trudeau administration’s proposed subsidies for carbon capture and storage are not sufficient. They want still far more tax breaks.

Meanwhile DR Congo is opening up a new frontier for oil drilling in one of the world’s major carbon sinks, a cherished area of peatlands.

Reminder: the International Power Company suggests no new fossil gas creation is appropriate with a 1.5C warming restrict. None. Zero. Zilch.

Until eventually oil organizations display strategies to leave it in the ground, it is naïve to treat them as portion of the solution.

“I’m just unwell of them fucking it up”

Australian billionaire Mike Cannon-Brookes clarifies why he confronted the AGL board. Relatable.

Megan Darby

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