Legal & General targets US oil giant Exxon over climate change (Irish Times)
- Legal & General Investment Management (LGIM), one of the world’s largest fund managers with more than $1.5 trillion (€1.4 trillion) in assets, is taking its fight for greater action on climate change to the boardroom of US oil giant ExxonMobil.
- LGIM highlighted what it said was Exxon’s “persistent refusal” to disclose its full carbon footprint and to set company-wide emissions targets.
- Lobbying by US oil companies is believed to have played a pivotal role in US president Donald Trump’s decision to remove the US, the world’s largest carbon emitter, from the Paris climate accord in 2017.
Asia's pandemic stimulus may slow the demise of coal (Reuters)
- Even a handful of new plants will boost CO2 emissions and drive demand for coal mining in countries like Australia and Indonesia.
- Doosan Heavy is slated to provide equipment for coal plants in South and Southeast Asia, where emissions standards are lower than in South Korea, including the $3.5 billion Jawa 9 & 10 coal plants in Indonesia.
- “Coal is potentially less affected than other energy sources in Southeast Asia as economic and social stability may be prioritised in uncertain times like this,” said Shirley Zhang, principal Asia-Pacific coal analyst at Wood Mackenzie, an energy consultancy.
Meet America's 10 largest emitters (EHN)
- Power sector carbon dioxide emissions fell 10% as a result, one of the largest annual declines ever.
- Together, these plants generated 152 million metric tons of carbon dioxide last year, or almost 9% of U.S. power sector emissions.
- Costa Samaras, a professor who studies the power sector at Carnegie Mellon University, noted that emissions from power plants have trended down in recent decades.
There Are Green Jobs Hiding in the Oilfields (The New Republic)
- Carbon capture utilization and storage (CCUS) is enormously controversial among climate groups, and for good reason.
- While it’s been raised as a possible measure to deal with climate change, much of the carbon captured now is plowed into a process known as enhanced oil recovery (EOR), wherein pressurized carbon dioxide is injected into already depleted wells to extract more fossil fuels.
- Emissions-curbing policy should probably proceed on the assumption that it will never scale up to the staggering levels some models suggest will be needed.
Impact of Environmental CSR, Service Quality, Emotional Attachment, and Price Perception on Word-of-Mouth for Full-Service Airlines (Sustainability Journal)
- Our empirical findings demonstrated that environmental corporate social responsibility plays a crucial role in eliciting airline customers’ word-of-mouth, and that service quality and emotional attached have a critical mediating effect.
- In addition, price perception moderated the degree of the relationship strength between environmental corporate social responsibility and word-of-mouth. The salient contribution of emotional attachment to the prediction power increase of the proposed model for word-of-mouth was also uncovered.
Social bonds: Japan leads from the front (GlobalCapital)
- The market for bonds that target environmental, social and governance (ESG) concerns previously put the focus on the environmental aspect, leading to a rush of green bond issuance but little attention on social problems.
- Since the emergence of the UN’s Sustainable Development Goals (SDGs), and the wider rise of ESG, investors now have a much deeper understanding of social bonds.
- Investors actually understand social bonds more than they do green bonds, because in some ways social bonds are simpler.