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☆ Soaring temperatures to record rainfall: flooding ravages East Asia as climate crisis takes hold
▼ + stars: | 2023-07-17 | by ( Heather Chen | ) edition.cnn.com time to read: +8 min

Record temperatures also led to a rise in heat-related illnesses, particularly among vulnerable communities such as the elderly. In response to the loss of life, South Korean President Yoon Suk Yeol called for an overhaul of the country’s approach to extreme weather. “This kind of extreme weather event will become commonplace — we must accept climate change is happening, and deal with it,” Yoon said Monday. A vulnerable regionScientists have warned the frequency and intensity of extreme weather events will continue to increase as the human-caused climate crisis accelerates. “Floods, droughts and other devastating climate events are “all showing us very clearly what will the future be,” she added.

Persons: Yoon Suk, ” Yoon, ”, John Kerry, Reuters Heatwaves, Shehbaz Sharif, Manish Swarup, —, “, Sunita Narain Organizations: Hong Kong CNN, CNN, Japan’s Meteorological Agency, Reuters, World Meteorological Organization, ”, United Nations General Assembly, Disaster, World Bank, Centre for Science Locations: Hong Kong, Japan, China, South Korea, India, South Korean, Cheongju, Philippines, Cambodia, Manila, Phnom Penh, Delhi, Beijing, Washington, Chongqing, Kiryu, Gunma Prefecture, Kyoto, Tokyo, Hatoyama, Saitama Prefecture, Asia, Pakistan, New Delhi, Himachal Pradesh, Assam, Uttarakhand, Punjab, Haryana, Uttar Pradesh, “

Washington is seeking to protect U.S. manufacturers from low-cost competitors in China, including those it suspects of using forced labor, which Beijing denies. Both countries say they should be able to collaborate on climate change regardless of other disagreements. After Pelosi's August trip to Taiwan, a democratically-governed island that China claims as part of its territory, Beijing said it would halt all dialogue with Washington on climate change. The two countries only resumed informal climate talks in November at the COP27 summit in Egypt. During Yellen's visit last month, she made a public push to get China to participate in the UN-run funds to help poorer nations address climate change.

Persons: Kerry, John Kerry, Xie Zhenhua, David Sandalow, Biden, Antony Blinken, Janet Yellen, Li Shuo, Nancy Pelosi, Pelosi's, Alden Meyer, Yellen's, Fang Li, Valerie Volcovici, David Stanway, John Stonestreet Organizations: Observers, UN, U.S, Center, Global Energy, Greenpeace, Trump, ., Centre for Research, Energy, Clean, Global Energy Monitor, World Resources Institute, Thomson Locations: COP28 WASHINGTON, United States, China, Beijing, Washington, Paris, Taiwan, U.S, Xinjiang, Egypt, Singapore

☆ When El Niño exacerbates global warming: Record heat, record flooding, record wildfires
▼ + stars: | 2023-07-15 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Brown | Afp | Getty ImagesIf you feel like record-level extreme weather events are happening with alarming frequency, you're not alone. Global warming is making extreme weather events more severe, scientists said. But what is clear is that climate change makes it more likely that an extreme weather event will happen. "Higher temperatures from climate change are indisputable, and with each degree increase we're multiplying our changes of getting an extreme heat wave. Decreasing the greenhouse gas emissions released into the atmosphere by burning fossil fuels will help moderate the extreme weather trends.

Persons: Rai Rogers, Frederic J, Brown, Michael Mann, Brandon Bell, Phil Scott, Paul Ullrich, Mann, Ullrich, Justin Trudeau, El Niño, Timothy Canty, Canty, they're Organizations: Afp, Getty, University of Pennsylvania, CNBC, National Oceanic, Atmospheric Administration, NOAA, National Weather Service, Prediction, EMT, Emergency, Washington Post, The Washington Post, Anadolu Agency, University of California, Global, Wildfire, Bloomberg, University of Maryland, Government, Montreal Locations: Las Vegas , Nevada, California, Texas, Florida, United States, Northern, West Coast, Phoenix , Arizona, Nevada, Arizona, Montpelier , Vermont, Vermont, Canada, New York City, Anadolu, Davis, Lytton , British Columbia, El, Americas, Gulf, Pacific Northwest, Ohio, Northeastern, Ankara, Turkiye, Montreal

☆ Why Exxon Mobil is spending $4.9 billion on a company that pumps carbon dioxide back into the earth
▼ + stars: | 2023-07-14 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

That's a business Exxon, the biggest oil company in the US, is looking to expand. The largest US oil major said Thursday it would acquire Denbury, which has the largest network of carbon dioxide pipelines in the country, for $4.9 billion. Denbury is also in the business of what's called enhanced oil recovery, which involves using carbon dioxide to collect more oil from wells. Most of the captured carbon dioxide will likely be stored underground, however. Transporting CO2 requires pipelines, and Denbury has 1,300 miles of carbon dioxide pipelines; much of its network spans Louisiana, Texas, and Mississippi.

Persons: Denbury, what's, Joe Biden, Dan Ammann, there's, — Organizations: Exxon Mobil, Exxon, Service, Privacy, International Energy Agency, IEA, Exxon's, Carbon Solutions, Bloomberg, Denbury, United Nations Locations: Wall, Silicon, Louisiana , Texas, Mississippi, Louisiana, CCUS, US, Qatar, Australia

☆ An RFK press dinner in New York reportedly devolved into a farce
▼ + stars: | 2023-07-13 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

Long-shot Democratic presidential hopeful Robert F. Kennedy Jr. found himself in an unusual crisis. According to The New York Post, Kennedy Jr. was a dinner that descended into a farce. According to The New York Post, a recent dinner between long-shot Democratic hopeful Robert F. Kennedy Jr. and the press descended into a farce as two writers faced off on global climate change. Kennedy Jr., an environmentalist who has pivoted to dismissing vaccine science, was described as maintaining a "steady composure in the face of the crisis." And his father, Robert F. Kennedy, was in the thick of the federal response to defending civil rights protestors.

Persons: Robert F, Kennedy Jr, Doug Dechert, Anthony Haden, Haden, Dechert, John F, Kennedy, Guest, Doug Organizations: The New, Service, Democratic, Cuban Locations: The New York, Wall, Silicon

BOGOTA, July 12 (Reuters) - Deforestation in Colombia fell 29.1% in 2022 versus the previous year spurred by sharp decreases in the country's Amazon region, the government said on Wednesday, marking the lowest level since 2013. Nationally, deforestation fell by just over 500 square kilometers (193 square miles) last year to just over 1,235 square kilometers (477 square miles). That is down from 1,741 square kilometers in 2021 and surpassed the government's target of cutting the rate to 1,400 square kilometers a year by 2026. Deforestation in Amazon provinces, where a majority of the activity occurs, fell significantly, the environment ministry said in its report, with a 50% decrease in Caqueta province alone. Despite smashing the deforestation reduction target, both the government and Botero cautioned against declaring victory.

Persons: Gustavo Petro, Susana Muhamad, Muhamad, Rodrigo Botero, Botero, audios, Oliver Griffin, Bill Berkrot Organizations: Foundation for Conservation, Sustainable Development, Thomson Locations: BOGOTA, Colombia, Bogota, Brazil, Amazon, Caqueta

☆ Lawmakers tussle over GOP efforts to thwart ESG investing
▼ + stars: | 2023-07-12 | by ( Chelsey Cox | ) www.cnbc.com time to read: +4 min

WASHINGTON — House lawmakers clashed Wednesday over federally mandated environmental, social and governance disclosure requirements for companies rolled out amid concerns over growing climate disasters. The GOP majority committee members decried the disclosure rules as part of a broader push to discourage ESG investing nationwide. Democrats defended them as necessary to promote responsible investing to reduce inequities and curb climate change. "These politically motivated regulations not only discouraged private companies from going public but also hinder the competitiveness of American public companies." Democratic Rep. Maxine Waters, meanwhile, criticized Republicans' attempts to undermine what she called the federal government's responsibility to hold public companies accountable for ESG.

Persons: Patrick McHenry, Maxine Waters, David Marcus, Facebook’s Calibra, Biden, Waters, Gary Gensler, Joe Biden, Andy Barr, Benjamin Zycher, Zycher, Juan Vargas, Vargas Organizations: Financial, Consumers, Investors, American, WASHINGTON —, Republican, Financial Services, GOP, Securities and Exchange, SEC, Democratic, ESG, European Union, Labor Department, Republicans, American Enterprise Institute Locations: Washington , U.S, McHenry, R, Ky

WASHINGTON, July 11 (Reuters) - U.S. climate envoy John Kerry on Monday will become the Biden administration's third senior official to visit China in recent weeks after trips by Treasury Secretary Janet Yellen and Secretary of State Antony Blinken. A U.S. official said on Tuesday that Kerry would visit from Monday to Thursday. The two countries have previously cooperated on climate change with breakthroughs that led to the 2015 Paris climate accord. Last month, Blinken met President Xi Jinping in China but soon after his trip ended, U.S. President Joe Biden referred to Xi as a 'dictator,' risking a further deterioration of relations. China last year briefly suspended talks with the United States on climate, security and other matters in response to a visit to Taiwan by U.S. House of Representatives by then-Speaker Nancy Pelosi.

Persons: John Kerry, Janet Yellen, Antony Blinken, Kerry, Washington, China, Xie Zhenhua, Yellen, Blinken, Xi Jinping, Joe Biden, Xi, Nancy Pelosi, Valerie Volcovici, Kanishka Singh, Howard Goller Organizations: Biden, U.S, Beijing, U.S . House, Thomson Locations: China, Taiwan, Paris, U.S, United States

REUTERS/Kim... Read moreLONDON/WASHINGTON, July 10 (Reuters) - When it comes to taking stock of global emissions, there's an elephant in the room: the world's armed forces. NATO, the 31-country Western security alliance, for example, told Reuters it has created a methodology for its members to report their military emissions. And Washington sent U.S. Army and Navy representatives to the COP27 climate summit in Egypt last year, the first time a Pentagon delegation has attended the global climate summit. Ukraine's environment ministry spokesperson said it supports the efforts and would seek backing from governments at COP28 for more transparent military emissions reporting. In the meantime, global military emissions will remain poorly understood, said Stuart Parkinson, executive director of the group Scientists for Global Responsibility.

Persons: Kim, Queen Mary, Axel Michaelowa, Meredith Berger, Neta Crawford, Deborah Burton, Lennard, Klerk, James Appathurai, Markus Ruelke, Stuart Parkinson, Sarah McFarlane, Valerie Volcovici, Sabine Siebold, Richard Valdmanis, David Clarke Organizations: REUTERS, Observatory, United Arab Emirates, UNFCCC, COP28, NATO, Reuters, Washington, U.S . Army, Pentagon, U.S . Navy, The, U.S . Defence Logistics Agency, U.S . Department of Defense, Oxford University, Oxford, Queen Mary University of London, Scientists, Global, Thomson Locations: South Korea, U.S, Pocheon, WASHINGTON, Kyoto, Paris, Lancaster, Oxford, Dubai, UAE, Zealand, Britain, Germany, Egypt, The U.S, Afghanistan, Iraq, Ukraine, Singapore, Switzerland, Syria, COP28, Berlin

CNN —The planet’s temperature soared again on Thursday to levels not seen in the modern record-keeping era, marking the fourth straight day of record temperatures. On Monday, the average global temperature reached 17.01 degrees Celsius (62.62 degrees Fahrenheit), the highest in the NCEP’s data, which goes back to 1979. On Tuesday it climbed to 17.18 degrees Celsius, where it remained on Wednesday. Before this week, the record in NCEP’s data was 16.92 degrees Celsius and was set in August 2016. Temperature records aren’t just numbers, “but for many people and ecosystems it’s a loss of life and livelihood.”

Persons: Jennifer Francis, Francis, Angel Garcia, Robert Rohde, Niño, “ It’s, ” Friederike Otto, ” Otto Organizations: CNN, University of Maine’s, US National Centers for Environmental, Climate Research, Bloomberg, Getty, Berkeley, El, Grantham Institute, Climate Locations: “, Seville, Spain

☆ Column: Hottest day on record puts fresh focus on top CO2 emitters
▼ + stars: | 2023-07-06 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +4 min

July 6 (Reuters) - The world's largest emitters of carbon dioxide (CO2) and other greenhouse gases are coming under fresh scrutiny after global temperatures averaged 17.01 degrees Celsius (62.62 Fahrenheit) on Monday, the highest ever recorded. PRESSURE POINTSChina, the world's single largest CO2 polluter since 2005, has come under particular scrutiny after the country generated over 30% of global CO2 discharge in 2022, according to the Energy Institute Statistical Review of World Energy. CO2 emissions by key region since 1990India, already the world's third largest CO2 polluter in 2022, is seen increasing total CO2 discharge until 2040, while CO2 emissions in Indonesia - the seventh largest polluter last year - may not peak until 2050. Brazil, number 13 on the CO2 list in 2022, also looks set to keep CO2 discharge totals climbing over the coming years. However, each nation also has aggressive plans for reducing energy sector emissions and lowering reliance on fossil fuels.

Persons: Gavin Maguire, Kim Coghill Organizations: El, Energy Institute, World Energy, Centre for Research, Energy, Clean, Oxford Economics, Reuters, Thomson Locations: South, Southeast Asia, Northern China, North Africa, North America, El Nino, China, Japan, South Korea, United States, Germany, Europe's, North East Asia, South East Asia, India, Indonesia, Brazil, Turkey, Nigeria, Egypt, Mexico, The Philippines

☆ Last month was the planet’s hottest June on record by a huge margin
▼ + stars: | 2023-07-06 | by ( Rachel Ramirez | ) edition.cnn.com time to read: +4 min

The analysis from the European Union’s Copernicus Climate Change Service found that last month was the planet’s hottest June by a “substantial margin” above the previous record, which was set in 2019. The nine hottest Junes have all occurred in the last nine years, according to the agency – evidence the human-caused climate crisis is driving temperatures to unprecedented levels. This is exactly what global warming looks like.”Scientists have warned that these record temperatures bear the fingerprints of the climate crisis. Northwest Europe experienced record-breaking temperatures last, including the UK, which logged its hottest June on record, according to the UK Met Office. “The ocean warming is even more concerning because as the oceans warm, they expand, which means higher sea levels, larger storms surges and more flooding of coastal communities,” Marlon said.

Persons: Copernicus, ” Jennifer Marlon, “, Greenlee Beal, El Niño, ” Marlon, — Organizations: CNN, Southern, Yale School of Environment, Northwest, UK Met Office, Reuters, Climate, Atlantic Locations: Southern US, Mexico, El, Pacific, Northwest Europe, Canada, United States, Asia, Australia, Texas, Central America, Ireland, Baltic, Europe, Iceland, Russia, Turkey, Kosovo, Romania, Scandinavia, America, Horn of Africa, South America, Antarctica

☆ This Bulgarian Writer’s Books Bend Time
▼ + stars: | 2023-07-05 | by ( Thomas Rogers | ) www.nytimes.com time to read: +1 min

The award has focused an international spotlight on Gospodinov, 55, but it also represents a coming-out moment for Bulgarian literature, which is little-known outside the country. Recently, several other Eastern European authors also received high-profile awards, including Nobel Prizes for Literature to Olga Tokarczuk, of Poland and Svetlana Alexievich, of Belarus. Gospodinov, who was soft-spoken and self-effacing in conversation, argued that surging global interest in Eastern European authors may be connected to a global climate increasingly shaped by nationalism and Russian aggression. His fiction often features fragmentary structures and uses elements of his own personal and family histories to explore lofty ideas about time. He is so famous in Bulgaria, the country’s culture minister once said that he would resign if the author told him to.

Persons: Olga Tokarczuk, Svetlana Alexievich, Gospodinov Locations: Poland, Belarus, Bulgaria

Sunak responded by defending his record and framing the resignation as a consequence of Goldsmith's reluctance to apologise for remarks criticising a parliamentary committee over its investigation of former prime minister Boris Johnson. In his resignation letter, Goldsmith said Britain had "visibly stepped off the world stage and withdrawn our leadership on climate and nature". When Sunak was serving as finance minister, Britain won international plaudits in 2021 for brokering a global climate pact at the COP26 summit in Glasgow. However shortly after becoming prime minister, Sunak said he would not attend the 2022 COP summit, before changing his mind when faced with criticism. On Friday, shortly after Goldsmith's resignation, the government announced a new multi-million pound fund to create and restore wildlife-rich habitats.

Persons: Goldsmith, Sunak, Johnson, Zac Goldsmith, Britain, Rishi Sunak, Boris Johnson, Goldsmith's, William James, Farouq Suleiman, Sarah Young, Philippa Fletcher, Mark Heinrich Our Organizations: Johnson LONDON, Conservative Party, State, Overseas Territories, Commonwealth, Energy, Britain, Thomson Locations: British, Glasgow

☆ Seeking nominations for Insider's second annual Climate Action 30 list
▼ + stars: | 2023-06-29 | by ( Lily Katzman | ) www.businessinsider.com time to read: +2 min

Insider's second annual Climate Action 30 list will spotlight today's most impactful climate leaders. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyWe're seeking nominations for Insider's second annual Climate Action 30 list, which identifies the top 30 global leaders working toward climate solutions. Aligning with COP28 and launching in November, Insider's Climate Action 30 will invite honorees to share the progress they're making to achieve their climate goals as well as the specific actions they think our readers can take to do the same. This year's Climate Action 30 will be a part of Insider's ongoing One Planet program. How we judgeNominee short lists will be shared with our team of reporters, editors, and sustainability and climate experts who will select the final 30 honorees.

Organizations: Service

☆ Nigeria oil spill: Authorities investigate dayslong leak from a Shell pipeline in a region already blighted by pollution
▼ + stars: | 2023-06-27 | by ( ) edition.cnn.com time to read: +1 min

Reuters —Nigerian authorities and Shell’s local subsidiary were on Monday investigating the cause of an oil spill on the Trans Niger pipeline that lasted several days. The spill from the 180,000-barrel-a-day, which happened at Eleme in Rivers State in south Nigeria, was detected on June 11. Four days later it was confirmed by Shell Petroleum Development Company of Nigeria Limited in a statement. Shell has, over the years, faced several legal battles focused on oil spills in the Niger Delta, a region blighted by pollution, conflict and corruption related to the oil and gas industry. The oil major blames most of the spills on pipeline vandalism and illegal tapping of crude.

Persons: ” Chinyavanhu, ” Organizations: Reuters, Shell Petroleum Development Company, Nigeria Limited, Shell, Nigerian Oil, Agency, Environmental Advocacy, Greenpeace Locations: Niger, Eleme, Rivers State, Nigeria, Niger Delta, Greenpeace Africa

☆ Tree Loss Increases in Crucial Tropical Forests
▼ + stars: | 2023-06-27 | by ( Manuela Andreoni | ) www.nytimes.com time to read: +1 min

More than a year after countries pledged to end deforestation by 2030, the world is continuing to lose its tropical forests at a fast pace, according to a report issued on Tuesday. It is the first assessment to cover a full year since November 2021, when 145 countries pledged at a global climate summit in Glasgow to halt forest loss by the end of this decade. “We had hoped by now to see a signal in the data that we were turning the corner on forest loss,” Francis Seymour, a senior fellow at the institute’s forest program, said. “We don’t see that signal yet, and in fact we’re headed in the wrong direction.”The report, done in collaboration with the University of Maryland, documented tree loss in the tropics from deforestation, fires and other causes. Last year’s destruction resulted in 2.7 gigatons of carbon dioxide emissions, a significant amount that is roughly equivalent to the annual fossil fuel emissions of India, a country of 1.4 billion.

Persons: “, ” Francis Seymour, we’re Organizations: World Resources Institute, University of Maryland Locations: Glasgow, India

☆ HIGHLIGHTS-What world leaders said at the Paris finance summit
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +2 min

PARIS, June 22 (Reuters) - Following are highlights of what world leaders said at a summit in Paris on Thursday to boost crisis financing for poor countries, reform post-war financial systems and free up funds to tackle climate change. ON REFORM"Even with the capital that the World Bank and the MDBs (multinational development banks) have, there is clearly potential ...to increase financing capacity," said U.S. Treasury Secretary Janet Yellen, whose country is the World Bank's biggest shareholder. U.S. Treasury Secretary Janet Yellen delivers her speech at the U.S embassy to France, ahead of the Global Climate Finance conference, in Paris, France June 22, 2023 World leaders, heads of international organizations and activists are gathering in Paris for a two-day summit aimed at seeking better responses to tackle poverty and climate change issues by reshaping the global financial system. ON FAILURE OF INTERNATIONAL FINANCIAL ARCHITECTURE"It is clear that the international financial architecture has failed in its mission to provide a global safety net for developing countries," said U.N. Secretary General Antonio Guterres. Reporting by Leigh Thomas, John Irish, Elizabeth Pineau, Silvia Aloisi; Editing by Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Yellen, Lewis Joly, Emmanuel Macron, General Antonio Guterres, Leigh Thomas, John Irish, Elizabeth Pineau, Silvia Aloisi, Christina Fincher Organizations: World Bank, Treasury, U.S . Treasury, U.S, Global Climate Finance, Bank, Thomson Locations: Paris, U.S, France

☆ World Bank should add disaster clauses to debt agreements- Yellen
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +1 min

Such clauses could be part of a broader reform of the World Bank to free up more funds, Yellen told journalists in the French capital. "We would also like to see the World Bank offer borrowers the option to add climate resilient debt clauses to their loan agreements. These clauses would help ease pressures on countries if a natural disaster strikes," she said. Yellen, whose country is the World Bank's biggest shareholder, added multilateral development banks should be reformed to become more efficient before shareholders think of injecting more money into them. "Even with the capital that the World Bank and the MDBs have there is clearly potential ...to increase financing capacity," she said, adding an additional 200 billion dollars could be unlocked over a decade.

Persons: Janet Yellen, Read, Yellen, Leigh Thomas, Silvia Aloisi, Toby Chopra Organizations: . Treasury, U.S, Global Climate Finance, World Bank, Bank, Thomson Locations: France, Paris, PARIS

☆ Opinion: If a 16 year old can drive, work, pay taxes – why can’t they vote?
▼ + stars: | 2023-06-22 | by ( Opinion Paul Hockenos | ) edition.cnn.com time to read: +8 min

In Germany, this age group can vote in European elections, and the same goes for Belgium, on request. And, when Scotland held its referendum on Scottish independence back in 2014, it lowered the voting age from 18 to 16. In the US, some cities in the states of Maryland and California have lowered the voting age to 16 in certain local elections. The US-based NGO National Youth Rights Association argues that 16- and 17-year-olds should participate on decision making on medical autonomy, curfew, drinking age and age discrimination. “They work and are subject to taxation without representation: income tax, sales tax, payroll taxes and more… The US should continue its democratic tradition of extending voting rights,” he added.

Persons: Paul Hockenos, ”, Paul Hockenos Hayyan, –, Kyriakos Mitsotakis, Grace Meng, Meng, ” Linda Kastrup, Neil Bhateja, Greta Thunberg, they’ll Organizations: CNN, New Democracy Party of Greek, YouTube, Facebook, European Union, Scotland, Scottish, Youth, Youth Rights Association, –, National Youth Rights Association, Twitter Locations: Berlin, Europe, New Berlin, Greece, Austria, Malta, EU, Germany, Belgium, Estonia, Maryland, California, New York, London, Bogota, Nairobi

Leaders are set to back a push for multilateral development banks like the World Bank to put more capital at risk to boost lending, according to a draft summit statement seen by Reuters. Citing the war in Ukraine, climate crisis, a fledgling pandemic recovery, widening disparity and declining progress, Banga said it was time the World Bank adopted a new vision. The summit aims to create multifaceted roadmaps that can be used over the next 18-24 months, ranging from debt relief to climate finance. Wealthy nations have yet to come good on climate finance that they promised as part of a past pledge to mobilize $100 billion a year, a key stumbling block at global climate talks. Though binding decisions are not expected, officials involved in the summit's planning said some strong commitments should be made about financing poor countries.

Persons: Ajay Banga, Banga, Mia Mottley, John Irish, Philippa Fletcher Organizations: Glasgow, Summit, New Global Financial, World Bank, United Nations, Bank, Reuters, Barbados, Bridgetown Initiative, Bretton, International Monetary Fund, International Maritime Organization, Thomson Locations: Paris, France, PARIS, Africa, Ukraine, Banga, Bridgetown, French

☆ From ice cream to cattle feed: Here are the winners and losers as the summer heat bears down
▼ + stars: | 2023-06-21 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

With temperatures hitting all-time highs, consumers are turning to ice cream and chilled drinks to beat the heat — and analysts say some sectors could benefit. Several Southeast Asian cities hit record high temperatures in May as global climate change exacerbates heat waves and air pollution in the region. A street vendor selling bottles of chilled water amid high temperatures in Dhaka, Bangladesh, on Tuesday, June 6, 2023. "Use of air-conditioning will skyrocket, benefiting the HVAC industry but leading to extremely high levels of energy usage," said Allison Malmsten, public research director at Daxue Consulting. Cattle feeding at a cattle farm on December 13, 2020 in Pingliang, Gansu Province of China.

Persons: Bain, Zara Lightowler, Kuo, David Kuo, Allison Malmsten, Daxue, Rice Organizations: Getty, Company's, Vitasoy, Cola, PepsiCo, Bloomberg, Unilever, Smart Investor ., Daxue Consulting, Visual China, Co's, Sustainability Locations: Srinagar, Indian, Kashmir, Asia, El, Southeast Asia, Dhaka, Bangladesh, Pingliang, Gansu Province, China, Laos, Malaysia

TOKYO, June 13 (Reuters) - Toyota (7203.T) faces an unprecedented challenge at its annual shareholder meeting on Wednesday, with some pension funds voting against Chairman Akio Toyoda on governance issues, while seeking more disclosures on the Japanese automaker's climate lobbying. Two prominent U.S. proxy advisers have flagged concern about Toyota's board independence. The step comes as companies across Japan face more pressure from investors, especially on environmental, social and governance (ESG) issues. The strong financial performance has meant concerns about board independence have largely been shrugged off, said Kazunori Suzuki of Waseda Business School. He enjoys strong support from individual investors and the many suppliers and Toyota group companies among its shareholders.

Persons: Akio Toyoda, Toyoda, Kentaro Shibata, Kazunori Suzuki, Anders Schelde, Denmark's, AkademikerPension, AkademikerPension's Schelde, Nicholas Benes, Benes, that's, Makiko Yamazaki, Maki Shiraki, Daniel Leussink, David Dolan, William Mallard, Clarence Fernandez Organizations: Toyota, Nikkei, Waseda Business School, Tokyo, Exchange, Services, International Paralympic Committee, Sumitomo Mitsui Financial Group, Training, of Japan, Nissan, Honda, Reuters, Thomson Locations: TOKYO, New York, Japan, Toyota

☆ Climate change: The world's biggest companies have made almost no progress on limiting greenhouse gas emissions since 2018
▼ + stars: | 2023-06-08 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —The vast majority of the world’s biggest companies have done almost nothing in the past five years to cut their planet-heating pollution enough to avoid catastrophic climate change. Large companies are either more likely to contribute to extreme levels of warming or are not disclosing their greenhouse gas emissions at all, according to a new report from ESG Book, seen by CNN. Slow progressIn its analysis, ESG Book assigned “temperature scores” to companies based on publicly reported emission data and factors such as emission reduction targets to determine firms’ contribution to global climate goals. It accounted for direct emissions from operations as well as indirect emissions from use of the companies’ products. Still, slightly more than $1 trillion is expected to flow toward oil, gas and coal this year, significantly above the level consistent with the world reaching net-zero emissions by 2050, the IEA said.

Persons: ”, Daniel Klier, we’re, ” Klier, Fatih Birol Organizations: London CNN, CNN, Shell, BP, European Union, EU, International Energy Agency, World Meteorological Organization Locations: Paris, United States, United Kingdom, China, India

☆ Brazil Is Key to Slowing Global Warming. But Its Carbon Market Has Struggled.
▼ + stars: | 2023-06-07 | by ( Paulo Trevisani | ) www.wsj.com time to read: +8 min

With Brazil struggling in its efforts to create a regulated carbon market, the country’s new president is moving to scrap his predecessor’s approach and start anew. Financing carbon-capture projects such as reforestation could also generate carbon credits. For example, a local regulated carbon market could help exporters avoid the carbon border adjustment mechanism the EU plans to charge on some imported products from 2026. Exporters also hope a regulated market would help repair Brazil’s abysmal environmental reputation, a product of its history of deforestation. The da Silva administration plans to have a carbon market operating in a couple of years, Toni said.

Persons: Luiz Inácio Lula da Silva, Jair Bolsonaro, ”, Gustavo Pinheiro, Luiz Gustavo Bezerra, Mayer Brown, Pelerson Penido Dalla Vecchia, Antônio Queiroz, Bezerra, Ana Toni, Silva, Toni, da Silva, Marina Silva, Annie Groth, “, Paulo Trevisani Organizations: Brazil, Climate, Society, Union, Vale, Agence France, group’s, International Chamber of Commerce, EU, Sustainable Business, National Secretariat, Street, Brazil’s Ministry of Development, Industry, Trade, Services, Environmental Ministry, United Nations Locations: Brazil, Paris, Braskem, Brazilian, Pennsylvania, Peru, Dubai

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