Edition for 31 January 2020

Top Stories

Climate risk and decarbonization: What every mining CEO needs to know (McKinsey)

  • Learn what it means for you, and meet the people who create it In the mining industry, the impact of climate change and how the industry can respond to it has increasingly been a topic of discussion over the past decade.
  • The mining sector itself will also face pressure from governments, investors, and society to reduce emissions.
  • Scope 1 and Scope 2 CO2 emissions from the sector (those incurred through mining operations and power consumption, respectively) amount to 1 percent, and fugitive-methane emissions from coal mining are estimated at 3 to 6 percent.

Church of England pension fund shifts $789 mln to climate index (Reuters)

  • The Church of England’s pension fund has shifted 600 million pounds ($789 million) into a new equity index that invests in companies deemed to be making progress towards the targets of the Paris climate agreement.
  • “(Carney) challenged people to ask what their pension funds are doing to address the financial risks of climate change,” said Adam Matthews, Co-Chair of the Initiative and Director of Ethics and Engagement for the Church of England Pensions Board.
  • The Church has been active in pressuring oil producers to improve their climate targets, taking part in shareholder resolutions at companies including Repsol.

Across the U.S., states are bracing for more climate-related disasters (LA Times)

  • State lawmakers across the country are calling for huge investments to mitigate the effects of wildfires, flooding, hurricanes, droughts and other natural disasters made more devastating and frequent by climate change.
  • Even states whose leaders don’t publicly acknowledge the existence of climate change, such as Texas and South Carolina, have applied for federal dollars citing “changing coastal conditions” or “unpredictability,” the New York Times reported.
  • “There’s more of an appetite among states for action, because there’s an increase in the disasters that we’re seeing,” said Beth Gibbons, executive director of the American Society of Adaptation Professionals, an organization dedicated to climate resilience work.

Climate Change Is Making It Much Harder to Be a Young Farmer (Mother Jones)

  • With this season’s severe flooding, raging wildfires, and delayed planting, many of the country’s farmers are struggling to adjust as climate change sets in.
  • Two-thirds of these farmers say they are already experiencing climate change, a 2017 survey by the National Young Farmers Coalition found.
  • Hear more about the unique challenges young farmers face on Mother Jones‘ food politics podcast, Bite: “With climate change, it’s hard to put your finger on single events,” says Ben Whalen, who has farmed for three years at Bumbleroot Organic Farm near Portland, Maine.

Extinction Rebellion stage climate protest at McKinsey's London office (Reuters)

  • Civil disobedience group Extinction Rebellion staged a protest outside McKinsey & Company’s London office on Friday to demand the consulting firm use its influence over companies and governments to drive far-reaching action on climate change.
  • Extinction Rebellion activists also wheeled a mock-up of an elephant to McKinsey’s office to symbolize what they see as “the elephant in the room” of the climate crisis.
  • The protest was the latest in a series held outside McKinsey on alternate Friday mornings since November by Extinction Rebellion, which wants companies and governments to take rapid action to stabilize the Earth’s climate by slashing greenhouse gas emissions and preserving collapsing ecosystems.

U.S. environmental groups plan to sue Trump administration on airplane emissions (Reuters)

  • Environmental groups said on Thursday they planned to sue the U.S. Environmental Protection Agency for failing to regulate aircraft emissions after a 2016 agency determination that those emissions pose a danger to public health.
  • “The Trump administration’s refusal to curb plane pollution is fueling the climate crisis,” said Clare Lakewood, climate legal director at the Center for Biological Diversity, which along with Friends of the Earth filed a notice of intent to sue the EPA if the agency did not act within six months.
  • Airplanes are the third-largest source of U.S. transportation-related greenhouse gas emissions and the largest not subject to greenhouse gas emissions standards.

IATA and XCHG’s CBL Markets Announce the World’s First Airline Carbon Exchange (Business Wire Technology News)

  • Xpansiv CBL Holding Group (XCHG) and the International Air Transport Association (IATA) today announced a partnership to develop the Aviation Carbon Exchange (ACE), a new and innovative way for airlines to meet their emissions-reduction commitments as outlined in the Carbon Offset Reduction Scheme for International Aviation (CORSIA).
  • CORSIA is a global-offsetting scheme ratified by members of the International Civil Aviation Organization (ICAO), designed to help the aviation industry reach its goal of capping CO2 emissions at 2020 levels.
  • “XCHG is thrilled to announce our partnership with IATA to help airlines achieve their carbon emission reduction goals,” said Rene Velasquez, Head of Global Carbon at CBL Markets.

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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