Climate change merits a fiscal response like COVID-19’s (Brookings)
- In a similar vein, the world’s top carbon emitters, China, the United States, India, Russia, and Japan—responsible for a combined 60 percent of global effluents—have done little to avert a climate catastrophe, and they must now lead a global fiscal stimulus tackle the problem.
- A big difference from the COVID-19 experience: Climate spending is not just to put money in people’s pockets, but to promote low-carbon economic growth.
- The economic rationale for a well-implemented climate stimulus is fourfold.
Deutsche Bank spinoff IMP+ACT Alliance launches digital ESG fund transparency tool (Finextra)
- IMP+ACT Alliance today launched the IMP+ACT Classification System (ICS), which will allow asset managers to self-report how they classify, measure and manage ESG impact, serving financial risk mitigation strategies and advancing global goals such as the UN’s Sustainable Development Goals (SDGs).
- At the launch event hosted by the City of London Corporation and the UK Impact Investing Institute, practitioners were given an exclusive look at the digital platform, developed in consultation with over 150 organisations and learned how consistent information on types of impact across multi-asset class portfolios can be beneficial.
- With an aim of collaborating, educating and sharing best practices, IMP+ACT Alliance hope that the ICS will foster the “right conversations among practitioners about how they are thinking about evolving their practices to strengthen and enhance oversight on ESG risk and impact,” as Ben Constable-Maxwell, head of sustainable and impact investing at M&G Investments elucidated.
For first time ever, majority of shareholders push oil giant Chevron to align with Paris climate pact (Market Watch)
- Notably, a 53% majority of shareholders at Chevron Corp. voted for a resolution seeking a commitment from the oil giant to align its climate-policy lobbying activities with the goal of the Paris Agreement, an international voluntary effort that aims to keep global average temperature rise to below 2 degrees Celsius, and ideally limit it to 1.5 degrees.
- Filed by Climate Action 100+ investor signatory BNP Paribas Asset Management, this was the first climate-related proposal ever to win a majority of Chevron shareholder votes and it was the only proposal on Chevron’s 2020 proxy ballot that won a majority, Climate Action 100+, a group of more than 450 leading asset managers, pension funds and others with a combined $40 trillion in assets, said in a Tuesday release.
- “Climate Action 100+ investor signatories are propelling the transition to net-zero emissions, calling on companies to account for their climate risks, disclose their lobbying, and act on climate,” said New York City Comptroller Scott Stringer, who filed proposals at several of the companies.
Clean energy agency invests in soil carbon business venture (The Sydney Morning Herald)
- Australia's clean technology investment agency is taking a punt on an ambitious venture to tackle climate change, planting soil microbes in farm paddocks to capture carbon from the atmosphere and reduce global warming.
- The Clean Energy Finance Corporation is investing $1.7 million in a company that is developing a seed technology to boost carbon capture in farm soils.
- Soil Carbon Company chief executive Guy Hudson said the microbial treatment could apply to a range of broadacre seed crops like wheat and canola, as well as grass seeds for pastures.
Improving production sustainability by thyssenkrupp green cement solutions (Vietnam Insider)
- The cement industry is among the major sources of outdoor air pollution globally, contributing to about 7 percent of carbon dioxide emissions.
- Towards this end, leading technology group thyssenkrupp, through its Industrial Solutions business in Vietnam, has been developing and offering innovative solutions to support cement producers in ensuring sustainable production with reduced environmental impact.
- The company helped build the first industrial-scale flash calciner plant in Cameroon for low CO2 cement production with activated clay; technology from thyssenkrupp helped the plant reduce its carbon dioxide emissions in cement production by up to 40 percent. On the other hand, TPI Polene Public Company Limited (TPIPL) – one of the largest cement producers in Thailand, is using thyssenkrupp’s prepol Step Combustor technology for three of its kiln lines, allowing thermal use from municipal solid waste as a replacement of coal in cement production.
California accelerates clean transportation policy, targeting 500,000 electric trucks by 2040 (Forbes)
- On June 25th, the California Air Resources Board (CARB) will vote on its proposed Advanced Clean Trucks rule, which would require about 60 percent of new medium- and heavy-duty trucks sold in the state to be zero-emission vehicles (ZEVs) by 2035.
- If adopted as expected, clean transportation historians will look back at the Advanced Clean Trucks rule as a landmark policy.
- In simple terms, electric miles are more economic miles.
'Carbon Farming' Could Make US Agriculture Truly Green (Wired)
- As more big corporations and governments promise to go carbon-neutral, many are relying on carbon emissions trading as a way to meet their goals.
- When a company buys carbon offsets, it funds projects elsewhere to help reduce greenhouse gas emissions, such as planting trees in Indonesia or installing giant machines inside California dairies that suck up the methane produced by burping and farting cows and turn it into a usable biofuel.
- There’s a difference between an airline that promises to cut emissions by switching to cleaner fuel (good for immediately reducing greenhouse gases), and one that buys offsets for planting trees (not as good) that might be cut down a few years later.
The faux fish coming to a restaurant near you (Hakai Magazine)
- After having first tackled perhaps the most iconic, quintessentially American food, Impossible Foods—and others—have vowed to take on other varieties of meat, including seafood.
- Should they succeed, could alt (alternative) fish help make the world more food secure and save marine environments?
- The market for alt-meat and -fish products, estimated at less than US $14-billion in 2019, is predicted to grow as high as $140-billion by 2029.