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☆ Africa’s Vast Solar and Mineral Resources at Risk of Being Left Untapped, IEA Warns
▼ + stars: | 2023-09-06 | by ( Will Horner | ) www.wsj.com time to read: +6 min

Energy investment in Africa needs to more than double by the end of the decade if the continent is to meet its energy and climate goals. “Energy investment on our continent has fallen short,” wrote William Ruto, president of Kenya, in the report’s foreword. Photo: Lucien Kahozi/Bloomberg NewsAll of these are pushing up the cost of capital which makes many African energy projects financially unviable despite ample local resources and proven technologies such as wind or solar power, the report said. PREVIEWCurrently, 600 million people across Africa lack access to electricity and almost one billion have no access to clean cooking fuels. African nations are seeking redress for the effects of climate change they experience despite contributing little to carbon emissions, the main driver of global warming.

Persons: ”, Fatih Birol, simon maina, William Ruto, Lucien Kahozi, Will Horner, william.horner@wsj.com Organizations: International Energy Agency, African Development Bank, IEA, Agence France, West, “ Energy, Democratic, Bloomberg, Sustainable Business, Africa Climate Locations: Africa, Paris, ” Africa, China, Kenya, Democratic Republic of Congo, Ukraine, Nairobi

☆ Biocredits Could Help Save the Earth. But a Market Is Some Way Off.
▼ + stars: | 2023-09-05 | by ( Joshua Kirby | ) www.wsj.com time to read: +7 min

Biodiversity credits could be key to funding the conservation of the Earth’s ecosystems, but setting up a functioning market to buy and sell these payment tokens won’t be easy. The World Economic Forum is working on bringing together stakeholders, but admits that a scaled-up market is still some way in the future. It follows the lead of so-called voluntary carbon credits that allow firms to buy credits to offset their own emissions. Those global carbon credit markets are now worth some $2 billion, up from $200 million five years ago, according to environmental-finance data provider Ecosystem Marketplace. “I feel a bit of ‘carbon envy’ when I look at the carbon markets,” Cornell’s Tobin said, noting that biodiversity markets lack a universal metric that can apply to every project, unlike carbon markets where each credit represents one metric ton of carbon dioxide.

Persons: John Tobin, de la Puente, Tobin, don’t, Cornell’s Tobin, ” Tobin, JULIAN HABER, Zoe Balmforth, ‘, ’ ”, Balmforth, ”, ” Nestlé, Nestlé, biocredits, Markus Mueller, ” Mueller, Joshua Kirby, joshua.kirby@wsj.com Organizations: Economic, Paulson Institute, Cornell University, Credit Suisse, Companies, UN, REUTERS, Sustainable Business, Unilever, Deutsche Locations: Australia, Switzerland, biocredits

☆ Premier League clubs spend record 2.36 billion pounds in transfer window
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +3 min

The transfer window, which was open from June 14 to Sept. 1, exceeded last year's record 1.92 billion pounds, with the top-flight clubs spending 255 million pounds on deadline day alone, it said. Premier League clubs were responsible for 48% of the spending across Europe's top five leagues including Spain's LaLiga, Italy's Serie A, Germany's Bundesliga and France's Ligue 1. "Nearly three-quarters of Premier League clubs (14) spent more this summer than the last, reflecting the increased intensity of competition. Champions Manchester City signed midfielder Matheus Nunes for 53 million pounds this week, having brought Jeremy Doku for 55 million pounds, defender Josko Gvardiol for 77 million and midfielder Mateo Kovacic for 25 million earlier. According to the report, almost half of the transfer fees received by Premier League clubs from overseas came from the Saudi Pro League club (SPL), which has the fourth-highest transfer spend of any league globally.

Persons: Chris Radburn, Spain's LaLiga, Tim, Todd Boehly, Moises Caicedo, Enzo Fernandez, Matheus Nunes, Jeremy Doku, Josko Gvardiol, Mateo Kovacic, Kai Havertz, Declan Rice, Rasmus Hojlund, Sandro Tonali, Harvey Barnes, Calum Ross, Pearl Josephine Nazare, Martyn Herman, Gerry Doyle, Hugh Lawson Organizations: Soccer Football, Premier League - Brighton & Hove Albion, West Ham United, American Express, Premier League, Deloitte, Serie, Bundesliga, Ligue, Deloitte's Sports Business, Chelsea, Clearlake Capital, Champions Manchester City, Arsenal, Manchester United, Newcastle United, Nottingham Forest, Saudi Pro League, Thomson Locations: Brighton, Britain, London, Bengaluru

"Increasingly we are going to turn used clothes into raw material from Europe for fashion companies." Also in Spain, rivals including H&M, Mango and Inditex have created a non-profit association to manage clothing waste, responding to an EU law requiring member states to separate textiles from other waste from January 2025. OBSTACLESThe obstacles to significantly reducing clothing waste are formidable, despite the EU crackdown, industry sustainability commitments and initiatives like the Moda Re expansion. Adidas (ADSGn.DE), Bestseller, and H&M (HMb.ST) have invested in Finnish start-up Infinited Fiber Company, which manufactures fibre out of textile waste, cardboard and paper. As in Spain, textile waste associations would be set up in each country.

Persons: Albert Alberich, Inditex, Dijana Lind, Hugo Boss, Lind, Moda, Aissatou Boukoum, Mauro Scalia, Corina Pons, Helen Reid, Horaci Garcia, Nacho, Frank Jack Daniel Our Organizations: BARCELONA, Moda, Caritas, Union, European Commission, Union Investment, Adidas, McKinsey, Reuters, EU, ReHubs, Moda Re, United Nations, Inditex, Puma, Infinited Fiber Company, Thomson Locations: Spain, Barcelona, Spanish, Europe, Zara, Bilbao, Valencia, EU, Frankfurt, ReHubs Europe, Mali, Sant, AFRICA, Cameroon, Ghana, Senegal, Africa, Senegalese, Germany, Texaid, Switzerland, Vestisolidale, Italy, France, EURATEX, Madrid, London, Nacho Doce

☆ Artificial Intelligence Steps In to Lower Carbon Footprint of Buildings
▼ + stars: | 2023-08-31 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Artificial intelligence is starting to help buildings go greener. Developers and construction companies have pursued more-efficient energy use in buildings over the past couple of decades. “We want to make every building out there as smart as it can be,” said Ramya Ravichandar, JLL Technologies’s vice president, technology platforms—smart and sustainable buildings. For instance, software and hardware that automatically manages lights, heating and cooling can help buildings cut 20% or more of their yearly energy use. “The main message overall is we’re not going to save the planet with software, and AI is software,” Smithies said.

Persons: JLL, “, ”, Ramya Ravichandar, ” Ravichandar, Thomas Kiessling, ” Kiessling, Greg Smithies, ” Smithies, Dieter Holger Organizations: International Energy Agency, Energy, Environmental, Envio Systems, Royal London Asset Management, JLL, London Asset Management, Siemens Smart Infrastructure, Siemens, Sustainable Business, Venture, Fifth, dieter.holger Locations: Turntide, Sunnyvale, Calif, Berlin, Birmingham, England

☆ Building Green: New Technologies to Create Less Polluting Cement
▼ + stars: | 2023-08-24 | by ( Yusuf Khan | ) www.wsj.com time to read: +8 min

Roughly 7% of all carbon emissions today come from cement production, making it one of the highest-emitting industrial sectors, according to the consulting firm McKinsey. PREVIEW“Concrete is an essential building material,” said Claude Loréa, director of cement, innovation and ESG at the Global Cement and Concrete Association. About two thirds of the clinker emissions are released by the limestone when heated while the rest come from the combustion of fuels to create the heat. Increased efficiencyOne way the industry is looking to improve sustainability in cement production is by targeting efficiency gains. Cemex, one of the world’s largest cement producers, has been working with Switzerland-based Synhelion to produce clinker using solar energy rather than coal.

Persons: ”, Claude Loréa, Aidan O’Sullivan, ” O’Sullivan, Gianluca Ambrosetti, Christoph Beumelburg, Rick Fox, Fox, Partanna, Hurricane Dorian, Yusuf Khan Organizations: McKinsey, Sustainable Business, Global, Concrete Association, Carbon Re, International Energy Agency, IEA, Shell, National Basketball Association Locations: portland, Spain, Switzerland, Heidelberg, Brevik, Norway, Bergen, “, Delaware, Bahamas, Vegas, yusuf.khan

☆ Plant-Based Plastics Gain Favor as Companies Pursue Sustainability Goals
▼ + stars: | 2023-08-17 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Plant-based plastic, that is. However, the environmental benefits of plant-based plastics are increasingly appealing to companies promising to use more sustainable materials by the end of the decade. Plants absorb the atmosphere’s carbon dioxide, which cuts the greenhouse-gas emissions from making bioplastics to at least half that of fossil-fuel-based plastics. A Lululemon shirt containing plant-based nylon. Only plant-based plastics that are chemically identical to fossil-fuel–based versions can enter the existing and growing recycling infrastructure.

Persons: Bioplastics haven’t, Michael Carus, “, ” Carus, Eastman, Chris Killian, bioplastics, Warby Parker, ”, Biden, Manav, olefins, Dow, bioethylene, LVMH Moët Hennessy Louis, Haley Lowry, Dieter Holger Organizations: Sustainable Business, Kodak, U.S . Defense Department, European, dieter.holger Locations: China, Japan, biomanufacturing, U.S, Iowa

☆ Gabon Joins Blue Bond Wave With $500 Million Debt Refinancing
▼ + stars: | 2023-08-15 | by ( Will Horner | ) www.wsj.com time to read: +6 min

Gabon completed mainland Africa’s first-ever “debt-for-nature swap” Tuesday, refinancing $500 million of its debt and earmarking $163 million in savings for marine conservation, the latest in a burgeoning list of “blue bond” deals. In their place, Gabon issued a $500 million blue bond which matures in 2038. The coupon on the new blue bond was priced at 6.097%, lower than the coupons on the repaid bonds which were between 6.625%-7%. TNC says its blue bond deals have provided $400 million toward conservation efforts. Bank of America, which served as sole initial purchaser, structuring agent and bookrunner on the Gabon deal, declined to reveal its transaction fees.

Persons: Gabon’s, Bond, ”, Ali Bongo Ondimba, TNC wasn’t, Scott Nathan, TNC, Will Horner Organizations: —, Sustainable Business, Moody’s Investors Service, U.S . International Development Finance Corporation, Conservancy, Greenpeace, Bank of America Locations: Gabon, Africa, U.S, Belize, Seychelles, Barbados, Ecuador, Galápagos, william.horner

However, the delays affected the sites for rival platforms, as well as news outlets that Twitter owner Elon Musk has previously criticized. Will Dormann, a cybersecurity researcher, plugged the New York Times website into a basic command program on his Mac and compared the loading time for that website with that of a dummy website. The load time for the New York Times site was about 4.5 seconds longer, Dormann told CNN Tuesday. X, like other platforms, uses a link-shortener service to collect information on users who click on links shared on the platform. Reuters said in a statement that it was aware of reports “of a delay in opening links to Reuters stories on X.

Persons: Musk, Elon Musk, Will Dormann, Dormann, ” Dormann, Mark Zuckerberg, Zuckerberg, ” “ Elon won’t, ” Zuckerberg, cofounders Chris Best, Hamish McKenzie, Jairaj Sethi, ”, cofounders, ” Bluesky, X, Jon Passantino, Oliver Darcy Organizations: New, New York CNN, Twitter, New York Times, Reuters, Facebook, CNN, NBA.com, Target, Hacker, The New York Times Locations: New York

☆ Europe Is Embarking on a Mining Renaissance. Winning Over Locals Is Proving a Challenge.
▼ + stars: | 2023-08-10 | by ( Yusuf Khan | ) www.wsj.com time to read: +12 min

“It’s definitely a [mining] renaissance,” said Rebecca Campbell, global mining and metals lead at law firm White & Case. “We’re trying to foster a permitting landscape that is both efficient and responsible.”In Europe, the mining renaissance comes after years of nearly no new mining activity on the continent. Left: A layer of spodumene within the host rock that Savannah Resources intends to mine. Savannah Resources, which has set up two offices in the municipality, has said it would strictly avoid that and instead build reservoirs to store rain water. That view is echoed by Savannah Resources.

Persons: COVAS, Portugal —, Barroso, BEL, mina ”, ”, Nelson Gomes, Covas, Alex Gorman, “, Nelson, YUSUF KHAN, “ It’s, Rebecca Campbell, ” “, Jayni Hein, Hein, “ We’re, Peel Hunt’s Gorman, Dale Ferguson, Gomes, Jessica Polfjärd, Polfjärd, Ana Fontoura Gouveia, Fontoura, ” Fontoura, Yusuf Khan Organizations: COVAS DO BARROSO, Associação, Peel, Vulcan Energy Resources, Adriatic Metals, White, Covington, Burling, Environmental, Council, Savannah Resources, Sustainable Business, Sweden’s Moderate Party, Serra Locations: Portugal, Porto, Boticas, Covas, It’s, Europe, Germany, Sweden, Bosnia, Finland, Greece, U.S, Savannah, London, spodumene, Serbia, China, yusuf.khan

☆ Billionaire Charlie Ergen merging Dish and EchoStar to expand mobile and satellite telecom empire
▼ + stars: | 2023-08-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Billionaire Charlie Ergen is consolidating his telecom empire, merging his satellite and broadband services companies Dish Network and EchoStar in an all-stock deal. "This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business," Ergen, chairman of both Dish and EchoStar, said in a statement. The deal reunites two businesses that have been separate for about 15 years, as Ergen spun EchoStar out of Dish in 2008. The merger will exchange 2.85 shares of Dish common stock for each share of EchoStar stock, a 12.9% premium for EchoStar shareholders as of the July 5 trading close. EchoStar CEO Hamid Akhavan will continue on as part of the combined company, as President and CEO.

Persons: Charlie Ergen, Ergen, EchoStar, Hamid Akhavan, Erik Carlson, Akhavan, CNBC's David Faber Organizations: Dish Network

☆ Virtual Healthcare Has Green Benefits
▼ + stars: | 2023-08-02 | by ( Cecilia Butini | ) www.wsj.com time to read: +8 min

Virtual doctor’s appointments are helping healthcare companies reduce carbon emissions, though sustainability is mostly seen as a side benefit of telehealth rather than its main driver. The healthcare industry is responsible for about 5% of global greenhouse-gas emissions, of which the U.S. healthcare system alone accounts for a quarter. Similarly, in England, medicines, buildings, equipment and other supply-chain items generate most of the National Health Service’s emissions, according to official NHS figures. The company has designed an app for teleconsultations that is able to show patients the carbon emissions avoided through that consultation. In line with national data, the company said its Scope 3 emissions account for 75% of its total emissions.

Persons: telehealth, Cynthia Cox, KFF, ”, Colin Cave, ” Cave, Glyn Richards, Ben Phillips, BUPA, Marijka Grey, Kyle Zebley, — Dieter Holger, Cecilia Butini Organizations: McKinsey, Sustainable Business, Affordable, Energy, U.S . Agency for Healthcare Research, National Health, Kaiser Permanente, Permanente Kaiser Permanente, Spain —, CommonSpirit Health, CommonSpirit, American Telemedicine Association Locations: England, telemedicine, Kaiser, U.S, Northwest, U.K, Spain, Grey, Europe

☆ From banking giants to lending up-and-comers — here are the world's top 200 fintech companies
▼ + stars: | 2023-08-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +11 min

Statista identified 40 firms as top digital payments companies. While digital payments is often the area that draws most investor buzz, lending generates more money in financial services. Statista identified 25 fintech companies that fall into the category of top alternate lending firms. They include American small business lending firm Biz2Credit, Irish e-commerce lending company Wayflyer, and Latvian loan refinancing startup Mintos. Digital business solutions

Persons: Monzo, there's, Statista, Afterpay, It's, Binance, eToro, Equity crowdfunding, hasn't, Peter Hazlehurst Organizations: JPMorgan —, Orange, Digital, U.S, SEC, European, Education, Equity, Republic, Tech, Federal Reserve, Bank of England, CNBC, Solaris Locations: fintech, Europe, Nigeria, Orange, Africa, Terra, U.S, Cayman Islands, American, Latvian, U.K

☆ China Evergrande's EV unit shares plunge 69% after 16-month halt
▼ + stars: | 2023-07-28 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

HONG KONG, July 28 (Reuters) - Shares of China Evergrande New Energy Vehicle Group (NEV) (0708.HK) plunged on Friday as trading resumed nearly 16 months after the stock was suspended pending the release of financial results. Resumption of trading in the shares is one step forward for its embattled parent China Evergrande Group (3333.HK), whose offshore debt restructuring plan includes swapping part of the debt into equity-linked instruments backed by the group, Evergrande NEV and another unit, Evergrande Property Services. Shares of Evergrande Group, laden with $330 billion in total liabilities, and its services arm (6666.HK) have remained suspended since March 2022. Shares of Evergrande NEV sank as much as 69% to HK$1 in early trading, down from HK$3.2 on its last closing date of April 1, 2022. That compares to a 19% rise in Chinese EV giant BYD Co and 27% drop in EV startup Xpeng Inc (9868.HK) during the 16-month period.

Persons: Evergrande NEV, NEV, Clare Jim, Jacqueline, Jamie Freed, Kim Coghill Organizations: Energy Vehicle Group, HK, China Evergrande, Evergrande, Hong, Shanghai, Thomson Locations: HONG KONG, China, Hong Kong, Tianjin

☆ Stock Exchange Regulators Back Global Climate-Reporting Rules
▼ + stars: | 2023-07-25 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +5 min

Regulators of the world’s top stock exchanges gave their backing to the international climate-reporting standards framework Tuesday, adding momentum to efforts to establish the rules as the global baseline. The International Organization of Securities Commissions, known as Iosco, endorsed the International Sustainability Standards Board’s recently published climate reporting standard. While some businesses may be waiting to see the completed SEC climate reporting rules, it hopes the advantages of using a single standard worldwide outweigh any disadvantages of being more demanding than the SEC’s coming climate reporting rules. PREVIEWIt is now up to individual countries and jurisdictions to decide if and when they adopt the ISSB standards. “This is a hugely significant step towards a global baseline of sustainability reporting.

Persons: —, Jean, Paul Servais, Benoit Doppagne, “ Iosco, ”, Larry Bradley, Iosco, PwC, KPMG’s Bradley, “, Rochelle Toplensky Organizations: International Organization of Securities Commissions, International, U.S . Commodity Futures Trading Commission, Securities, Exchange, Zuma, SEC, U.S, EU, KPMG, Sustainable Business, Rochelle Locations: Japan, China, Britain, U.S, Australia, Canada, Hong Kong, Malaysia, New Zealand, Nigeria, Singapore, Glasgow

☆ Mining Deploys Innovative Tech to Find Copper, Other EV Metals
▼ + stars: | 2023-07-20 | by ( Yusuf Khan | ) www.wsj.com time to read: +8 min

By adding bio-surfactants along with the other chemicals during the soaking process, more copper floats to the surface and less is wasted. Locus says its bio-surfactants increase copper yields by 7%, and save energy because less rock needs to be crushed. It is also testing its process on iron ore and tailings waste. Photo: douglas magno/Agence France-Presse/Getty ImagesGroups concerned about the environment frequently talk about mining waste or so-called tailings, mining companies less so. “Long term we need to get more suppliers of these metals, rare earths in particular.”Phoenix finds mine sites where the tailings waste is free from radioactive elements such as thorium and uranium.

Persons: Nico Cuevas, Tesla, Cuevas, ”, Fatih Birol, Urbix, “, ” Cuevas, Luke Sharrett, Gabi Knesel, Knesel, douglas magno, Vale, Nicholas Myers, Myers, Yusuf Khan Organizations: SK, South, Sustainable Business, International Energy Agency, Miners, EV, Bloomberg, “ Mining, BHP, Agence France, Getty Locations: Mexican, Arizona, U.S, Mexico, Mesa, South Korean, China, America, Madagascar, Tanzania, Northern Europe, Solon , Ohio, Brazil, Woburn, Mass, New York, yusuf.khan

☆ Sustainable Aviation Fuel Leader Talks Green Premiums and Impact of Tax Incentives
▼ + stars: | 2023-07-19 | by ( Dieter Holger | ) www.wsj.com time to read: +11 min

Many airlines, corporate fliers and governments see so-called sustainable aviation fuel, or SAF, as a way to reduce aviation’s contribution to global warming. It recently converted an oil refinery in California and is expanding its refineries in Singapore and Rotterdam. We worked on a former fossil-fuel refinery and converted that into a renewable refinery. The carbon footprint of aviation can be affected today from today’s SAF technology. It will continue to incentivize current SAF production, but it will be difficult to be the impetus for future production.

Persons: P, Chris Cooper, We’ve, we’ve, Neste, Dieter Holger Organizations: Aviation, International Energy Agency, International Council, Clean Transportation, SAF, Sustainable, Neste’s U.S, Airlines, International Air Transport Association, Neste, Bloomberg New Energy Finance Summit, Dallas Fort Worth International Airport, DHL, Amazon, Marathon Petroleum, Sustainable Business, today’s SAF, Air, dieter.holger Locations: California, Singapore, Rotterdam, U.S, Neste U.S, San Francisco, Dallas, City, Oakland, Air Canada, Alaska, American, Delta, Los Angeles, San Jose, Washington, York, New York, New Jersey, . Oregon

☆ The AI boom is screwing over Gen Z
▼ + stars: | 2023-07-17 | by ( Ed Zitron | ) www.businessinsider.com time to read: +13 min

Now, with the advent of generative AI, organizations are starting to automate many "junior" tasks — stripping away their dubious last attempt to "teach" young employees. America's young workers are headed toward a career calamity. Nobody wants to teach anymoreEven before the rise of AI, young people were facing an early-career crisis. This lack of care is clearly weighing on the young workers who need career development the most. Humans can be enhanced by AI, helped by AI, but replacing them with AI is a shortsighted decision made by myopic bean counters who can't see the value in a person.

Persons: there's, Gen, Gen Zers, it's, Gen Z, Louis, Zers, millennials, Peter Cappelli, Capelli, Paul Osterman, they'd, Osterman, they'll, ChatGPT, Qualtrics, What's, they're, Ulrich Atz, Tensie Whelan, New York University's, Atz, Whelan, —, There's, Knight, It's, Ed Zitron Organizations: Management, Federal Reserve Bank of St, National Association of Colleges, Employers, University of Pennsylvania's Wharton School of Business, US Department of Labor, MIT, Pew Research Center, National Bureau of Economic Research, Gallup, Workplace Intelligence, Amazon, Boston Consulting Group, New York, New York University's Stern Center, Sustainable Business Locations: America, New, Fortune

There are also some voluntary credits for mechanically removing CO2 directly from the air, which are currently much more expensive. In June, the CFTC—the federal regulator of derivatives—created an environmental task force focused on rooting out fraud in carbon markets. SHARE YOUR THOUGHTS How can we build trust in carbon offsets? A parallel effort by the Voluntary Carbon Market Integrity Initiative, or VCMI, is setting rules for the buyers of offsets. The Commodity Futures Trading Commission has created an environmental task force focused on rooting out fraud in carbon markets and has called on whistleblowers to expose misconduct.

Persons: don’t, Nestlé, ”, Danny Cullenward, John Kerry, Morgan Stanley, Perrier, San, Ian McGinley, hasn’t, Guy Turner, ” Turner, andrew kelly, Mark Kenber, ” Kenber, William McDonnell, ” McDonnell, Dieter Holger Organizations: Futures Trading Commission, Sustainable Business, Institute, Carbon, American University . “, European Union, American University “, Paris Agreement, Council, Voluntary, Initiative, Trove, Futures, Reuters, dieter.holger Locations: U.S, San Pellegrino, Paris

☆ Canada Joins Nearly 20 Nations Calling for Halt to Deep-Sea Mining as Negotiators Meet to Agree Rules
▼ + stars: | 2023-07-11 | by ( Yusuf Khan | ) www.wsj.com time to read: +5 min

This week, delegates of the International Seabed Authority—a United Nations observer organization that regulates deep-sea mining in international waters—are descending on ISA headquarters in Kingston, Jamaica to hash out the regulations around deep-sea mining over the next two weeks. PREVIEWCanada, Ireland and Switzerland have all recently joined calls—by nearly 20 countries—for a moratorium or at least a pause on deep-sea mining. Norway recently opened the door to deep-sea mining in its waters. Deep-sea mining in recent years has garnered attention because of the possibility of recovering battery metals such as manganese and nickel from the seafloor. Some other early supporters of seabed mining, including Maersk and Lockheed Martin, have been selling their deep-sea mining investments.

Persons: —, Michael Lodge, Gerard Barron, Sandy Huffaker, GUSTAVO GRAF MALDONADO, Lockheed Martin, Yusuf Khan Organizations: United, Sustainable Business, ” Global Affairs Canada, ISA, Metals Co, Maersk, Press, Greenpeace, The Metals Co, REUTERS, Nauru wouldn’t, Lockheed Locations: Canada, United Nations, Kingston , Jamaica, Ireland, Switzerland, Norway, Nauru, yusuf.khan

☆ America’s Green Skills Gap Raises Concerns About Energy Transition
▼ + stars: | 2023-07-06 | by ( Dieter Holger | ) www.wsj.com time to read: +7 min

But recent data shows strong growth in demand for green skills exacerbating an already tight market where demand outstrips supply. The online professional network defines green skills as those that make economic activities more environmentally sustainable, such as carbon accounting, hydrogen engineering and battery manufacturing. It considers green jobs to be ones which include climate action objectives such as removing pollution and preserving natural resources. Likewise, more than 114,000 U.S. clean energy jobs were created in 2022, according to last week’s annual employment report from the U.S. Department of Energy. As of 2023, nearly 11% of U.S. transport workers, such as employees of carmakers, have green skills, according to LinkedIn.

Persons: ”, Sue Duke, Kenneth Gillingham, ” Gillingham, Tim Gruber, Gillingham, Sara Smiley Smith, Steven Cohen, Cohen, Todd Anderson, Rochelle Toplensky, Dieter Holger Organizations: U.S, LinkedIn, Wall Street, U.S . Department of Energy, Political Economy Research, University of Massachusetts Amherst, American Clean Power Association, Sustainable Business, Yale School of, Workers, Nobles, Environment, Yale, Columbia, Science, Sustainability Management, The Wall, dieter.holger Locations: U.S, Reading, Minn, Woodbine , Georgia

☆ How to Start Accounting for Carbon
▼ + stars: | 2023-07-04 | by ( Dieter Holger | ) www.wsj.com time to read: +9 min

Start with the easier stuffBegin with the more straightforward direct emissions from operations and energy purchases—so-called Scope 1 and 2 emissions. On its website, the company provides emissions data for computers and its sustainability-linked sales rose to $3.5 billion in 2021, about 5% of total sales. For HP and Nestlé, more than 95% of their carbon footprint is Scope 3 emissions. To make Scope 3 accounting more accurate, companies can add data that comes directly from their suppliers, if it is available. Businesses can also work together with their suppliers and customers to provide some training and resources to help them get their own carbon accounting in order.

Persons: James McCall, Benjamin Ware, Holcim, Magali Anderson, HP’s McCall, ” McCall, Nestlé’s Ware, “, McCall, GaBi, Nestlé, ” Ware, Don’t, Holcim’s Anderson, Elisabeth Real “, ”, Dieter Holger Organizations: Sustainable Business, HP, World Wildlife Fund, Environmental Defense Fund, Nestlé, Schneider, Engineers, Finance, WWF, Schneider Electric, Food, dieter.holger Locations: U.S, Europe, Texas

☆ U.S. Companies Face EU Deforestation Rules on Coffee, Wood and Other Everyday Goods
▼ + stars: | 2023-06-29 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

The nonprofit estimates at least 37 big U.S.-based companies, including Starbucks and Kellogg, will be covered by the new rules. Trees absorb carbon dioxide, and forest loss and damage has caused around 10% of global warming, according to nonprofit World Wildlife Fund. The EU rules apply to companies meeting the bloc’s broad definition of an “operator,” which includes a business importing into the EU, exporting from it, or putting products on the bloc’s market. The EU rules are expected to become stricter over time. Sen. Brian Schatz, a Hawaii Democrat who is spearheading the effort, said the U.S. needs to follow the EU in enacting deforestation regulations on trade.

Persons: haven’t, “, Starling, —, Kellogg, ” Frans Timmermans, Guillaume Croisant, Sen, Brian Schatz, ”, Dieter Holger Organizations: European Union, EU, Global, Starbucks, Kellogg, Labs, Airbus, Companies, World Resources Institute, Consumer Goods, New, World Wildlife Fund, Cargill, Bunge, Sustainable Business, Barclays, Hawaii Democrat, dieter.holger Locations: European, Brazil, Indonesia, Malaysia, New York, Brussels, Linklaters, U.S, Hawaii, Europe

☆ Oil, Gas Companies Urged to Pursue Relatively Cheap Fix on Emissions
▼ + stars: | 2023-06-27 | by ( Will Horner | ) www.wsj.com time to read: +5 min

The energy sector accounts for 40% of all human-caused methane emissions, most of which come from oil and gas companies that release it as a byproduct. The Biden administration’s Inflation Reduction Act includes a plan to charge oil and gas companies for methane emissions, as well as almost $1.6 billion to help these businesses emit less methane. The U.S. and the European Union have also spearheaded a pledge, signed at the COP26 summit in 2021, to reduce global methane emissions. The U.S. Methane Emissions Reduction Act Plan includes tighter regulations, increased transparency and incentives including $47 million to fund research into technologies that reduce methane emissions. The investment would enable oil and gas companies to reduce methane emissions by identifying and quickly repairing methane leaks as well as upgrading older infrastructure that is prone to leaking.

Persons: Biden, Will Horner Organizations: International Energy Agency, Biden, European Union, Energy, Sustainable Business Locations: Paris, North America, U.S, inching, China, India, Russia, Brazil, Indonesia, william.horner

☆ Pro Take: Forget the SEC, International Climate Reporting Standards Could Become the Global Baseline
▼ + stars: | 2023-06-26 | by ( Rochelle Toplensky | ) www.wsj.com time to read: +8 min

New international sustainability reporting standards could fulfill their ambition in becoming the global baseline as the advantages of using a single standard worldwide may, for many companies, outweigh the disadvantages of being more demanding than the SEC’s coming climate reporting rules. On Monday, the International Sustainability Standards Board released its initial two reporting standards. PREVIEWDespite the strong demand for one standard, U.S. and European Union officials are each developing their own climate reporting regimes. It is now up to individual countries and jurisdictions to decide if and when they will adopt the ISSB standards. Sue Lloyd, vice chair of the International Sustainability Standards Board, at the launch of the inaugural sustainability standards.

Persons: Sue Lloyd, ”, Brian Moynihan, Lloyd, Um, Lysanne Gray, Eelco van der Enden, Jean, Paul Servais, Benoit Doppagne, Iosco, Unilever’s Gray, Rochelle Toplensky, Amplifications Iosco Organizations: Sustainability, Task Force, Sustainable Business, European Union, International Organization of Securities Commissions, Securities, Exchange Commission, U.S, Wall Street, Bank of America, London Stock Exchange, Asian Development Bank, Unilever, Alignment, Global, Initiative, Belgian Financial Services, Markets, FSMA, Zuma Press, Accounting, Rochelle, wsj.com Corrections, Amplifications Locations: EU, Australia, Canada, Japan, Hong Kong, Malaysia, New Zealand, Nigeria, Singapore, Glasgow, Monday’s, Egypt, Africa, Asia, U.S

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