Dr Joseph McConnell explains his new findings on howvolcanic eruptions have changed the climate throughout history.

Thousands of climatologists, social scientists, economistsand policy experts are in Paris at the Our Common Future underClimate Change conference, the biggest such gathering ahead of theCOP21 UN climate talks in December. Carbon Brief brings you updatesfrom day two.

Carbon Brief seeks out the most cited papers on climatechange, and measures which authors have been the mostprolific.

What does the summer budget mean for climate and energy inthe UK? Carbon Brief looks at the implications of the changes tothe Climate Change Levy and road taxes.

The impacts of Chancellor George Osborne’s summer budgetcomes under scrutiny today, as journalists look at what it meansfor energy and climate. The scrapping on the renewables exemptionof the Climate Change Levy ends an effective subsidy payment torenewables firms of more than £5 for every unit of electricity theygenerate, reports The Telegraph. The news caused shares inDrax to tumble by 28%, reports The Financial Times. In aseparate Telegraph article, commodities editorAndrew Critchlow reports that the north sea oil explorationreceived “soundbites” rather than meaningful support.The Independentlooks at theremoval of tax exemptions for low-carbon vehicles. Carbon Briefalso covered thestory.

An email by a former Exxon employee shows that the oil giantknew about climate change in 1981, earlier than has previously beenreported, and before it was being widely discussed by the public.It impacted their decision not to develop a major gas field in Asiaat the time. The Guardianreports that Exxonnonetheless went on to fund climate denial for 27years.

At a hearing of the US Department of Homeland Security,Republicans have blasted the Obama administration for makingclimate change a top priority. The Quadrennial Homeland SecurityReview said that global warming was a top security risk – somethingthat GOP politicians took issue with. “Are the American people tobelieve that the increased operation

A paper linking climate denial to conspiratorial thinkinghas been republished, after it was previously withdrawn due tofears that it could lead to lawsuits. The paper caused a backlashon climate sceptics’ blogs when it was first published, leading theauthor to gather further evidence. Dana Nuccitelli looks at thehistory of the controversial study in The Guardian.

The European Parliament has cleared the last major hurdle tothe planned reforms to the European emissions trading system,voting in favour by 495 to 158 (with 49 abstentions). This meansthe reform only needs sign off from member states to enable a”market stability reserve” to be set up in 2019 to remove surpluscarbon credits that have depressed prices. The price of carbontoday changed little at the news, as was expected.Susanna Twidale and

One Direction have rallied their “amazing fans” to getbehind the UN’s climate conference in Paris this December. “In 2015we have a once-in-a-generation opportunity to change the world forthe better,” say the four band members (no longer five, as RTCChelpfully points out) in a video statement.

The divestment needs to start more interesting questionsabout where and how investment decisions affect future emissions,writes Oxford climate scientist Myles Allen. Currently, it isdifficult for investors to know whether their portfolios arecontributing to dangerous climate change. The Safe CarbonInvestment Initiative, launching today in Paris, seeks to changethat.

Argentina is falling behind some of its Latin Americanneighbours with its mysterious attitude to when it will present itspledge to the UN, writes Marina Aizen, an Argentinian journalist.Instead of pursuing its renewable energy resources, the governmentis instead chasing its shale reserv

The Chancellor’s latest budget shows that the UK is becomingincreasingly out of step with the global trend towards cleanerenergy investments, argues Catherine Mitchell, professor of energypolicy at Exeter University. Instead of pursuing a credible energypolicy based upon renewables, the government is pursuing “bluecrap” such as fracking, ending wind subsidies and selling off itsmajority share in the Green Investment Bank.

Over the last three decades, the number of record-breakingrainfall events has increased by an average of 12% across theworld, a new statistical analysis shows. In South East Asiancountries the observed increase is as high as 56%, the study finds,while in Europe it’s 31%, in the central US 24%. These increasescan only be explained by the warming of air and associated increasein how much moisture the atmosphere can hold, the researchersconclude.