Edition for 22 January 2020

Top Stories

Davos: Trump decries climate 'prophets of doom' with Thunberg in audience

  • US President Donald Trump has decried climate "prophets of doom" in a speech at the World Economic Forum in Davos, where sustainability is the main theme.
  • Mr Trump did not directly name the teenage climate activist Greta Thunberg, who was in the audience.
  • Environmental destruction is at the top of the agenda at the annual summit of the world's decision-makers, which takes place at a Swiss ski resort.

BlackRock, partners eye initial $500 million for climate fund

  • A BlackRock-backed group aims to raise an initial $500 million for a private equity fund that will invest in climate change-linked infrastructure upgrades in emerging markets.
  • The group will provide the first $100 million of funding for the Climate Finance Partnership (CFP), which was set up in 2018 along with France, Germany and the Hewlett and Grantham charitable foundations, it said in a statement on Wednesday.
  • The venture is part of a wide-ranging overhaul of the way BlackRock, the world’s biggest asset manager, is responding to the issue of climate change, as part of a broader commitment to environmental, social and governance-related investing.

Can Starbucks save the planet by cutting dairy? Activists and investors respond

  • CEO Johnson will encourage consumers to choose milk made from almonds, coconuts, soy or oats, whose production is environmentally friendlier than dairy, he said in a Bloomberg News interview.
  • Environmental activists, food and wildlife experts, as well as advocates for sustainable investors offered generally positive reactions to these moves by a retailer with as much global presence as Starbucks.
  • Still, some were quick to point out that dairy and meat alternatives do carry their own climate-change risks.

BP's Looney goes all-in on climate goals and explores overhaul

  • The 49-year-old Irishman plans to adopt broader carbon emissions reduction goals that will likely include emissions from fuels and products sold to customers rather than just the far lower emissions from BP’s own operations, according to four sources with knowledge of internal discussions with the new CEO.
  • The aim is to catch up with, and possibly outdo, rivals such as Royal Dutch Shell and Repsol as investor pressure over climate change mounts, said the sources who declined to be named as the plans have not yet been made public.
  • More stringent climate targets could lead to London-based BP selling its most carbon-intensive businesses such as oil and gas fields in Angola and Canada, they added.

Republicans’ Climate Change Plan Is Big Oil’s Climate Change Plan

  • On closer look, while the announcement shows how far climate activists have managed to shift the conversation in Washington, it’s also a package only a fossil fuel executive could love.
  • Besides fossil fuels, climate denial has been one of America’s most noxious exports—much of it bankrolled by the fossil fuel industry itself, leaders of which were fully aware of their contribution toward global warming.
  • Many fossil fuel companies, though, also began to present themselves as part of the solution to climate change—a strategy which might, in theory, help avert more intense public or governmental attention.

ASE Technology Holding Named on CDP A List 2019 for Leading Efforts Against Climate Change

  • Against a backdrop of increasing climate risks and the transition towards decarbonization, ASE is at the forefront of sustainability development and is leading the industry to achieve a low carbon economy that is environmental-friendly, resilient and cost effective.
  • Tackling climate change presents ASE an opportunity to transform risks and challenges into a force for good that drives the company’s long term growth.
  • The company has incorporated the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) into its Enterprise Risk Management (ERM) as part of its comprehensive carbon management strategy.
  • In 2014, ASE was the first company in Asia to issue green bonds with its proceeds earmarked for green buildings and green production.

1t.org Announced to Accelerate Nature Restoration to Tackle Climate and Biodiversity Crises

  • The plan, outlined at the World Economic Forum Annual Meeting 2020 by the Forum’s Executive Chairman Klaus Schwab, represents a major initiative in the global effort to tackle the climate change and biodiversity crises.
  • Nature-based solutions – locking-up carbon in the world’s forests, grasslands and wetlands – can provide up to one-third of the emissions reductions required by 2030 to meet the Paris Agreement targets.
  • They are one of four critical transitions needed to tackle the climate crisis in the coming decade, alongside transforming the energy, heavy industry and finance sectors.

The Climate Sentinel is an AI-powered news assistant for ESG investors and those concerned about climate change, corporate social responsibility, and related topics. Learn more.

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