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LONDON, May 18 (Reuters) - Shell (SHEL.L) will likely face one of its most acrimonious annual meetings next week as it struggles to balance investor pressure to capture profits from oil and gas and a vocal minority saying it must move faster to tackle climate change. Big Oil firms posted record profits last year amid soaring energy prices following Russia's invasion of Ukraine. That resolution echoes a ruling by a Dutch court telling Shell to adjust its climate targets, which Shell has appealed. It also said it was pleased that proxy advisers ISS and Glass Lewis had recommended votes against the Follow This resolution. The measures, however, did not prevent climate activist participants from heckling and disrupting proceedings before being escorted out, some carried by security staff.

BERLIN, May 3 (Reuters) - U.S. climate envoy John Kerry said on Wednesday China has invited him to visit "in the near term" for talks on averting a global climate change crisis even as diplomatic relations between the world's two biggest greenhouse gas emitters remain tense. The United States and China must work together to address climate change, Kerry said in an interview with Reuters on the sidelines of a conference on global warming in Berlin. China, for example, first must issue its plan to reduce methane emissions and advance in the transition away from coal, Kerry added. "We're not pointing fingers and we're not out there trying to, you know, make this part of the other issues that are out there" between the United States and China, Kerry added. "This (climate change) is a free-standing issue which affects China as it affects the United States."

☆ BASF Uses Integrated Reporting to Focus Stakeholders on Sustainable Innovation
▼ + stars: | 2023-05-03 | by ( Julia Hood | ) www.businessinsider.com time to read: +7 min

Integrated reporting is growing more popular as stakeholders look to understand how companies are building sustainable growth. BASF produces an integrated report and is involved in the International Integrated Reporting Council. According to the IFRS Foundation, more than 2,500 companies worldwide have adopted integrated reporting. A major shift occurred with the launch of the International Integrated Reporting Council in 2010, and the framework it rolled out in 2013. An integrated report brings with it a higher threshold of measurement and accountability than a standalone sustainability report.

☆ United Auto Workers Hold Off on Backing Biden, for Now
▼ + stars: | 2023-05-03 | by ( Shane Goldmacher | Coral Davenport | ) www.nytimes.com time to read: +1 min

The United Auto Workers, a politically potent labor union, is planning to withhold its endorsement of President Biden in the early stages of the 2024 race, according to an internal memo from its president to members on Tuesday. The memo, written by Shawn Fain, the Detroit-based union’s president, said the leadership of the United Auto Workers had traveled to Washington last week to meet with Biden administration officials and had expressed “our concerns with the electric vehicle transition” that the president has pursued. In April, the Biden administration proposed the nation’s most ambitious climate regulations yet, which would ensure that two-thirds of new passenger cars are all-electric by 2032 — up from just 5.8 percent today. The rules, if enacted, could sharply lower planet-warming pollution from vehicle tailpipes, the nation’s largest source of greenhouse emissions. But they come with costs for autoworkers, because it takes fewer than half the laborers to assemble an all-electric vehicle as it does to build a gasoline-powered car.

☆ COP28 president says fossil fuels still have a role to play, prompting concerns about climate summit’s goals
▼ + stars: | 2023-05-03 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

In March, European countries agreed to promote a global phase-out of fossil fuels in a text setting out their priorities for COP28. “The shift towards a climate neutral economy will require the global phase-out of unabated fossil fuels,” the text said. Al Jaber emphasized the role of technologies like carbon capture in reducing planet-heating pollution. “All indicators… are telling us that we are way off track,” said Al Jaber. We have to get out of fossil fuels, we have to dramatically reduce emissions.”“it is no longer about visions.

☆ Youth climate activists plan to protest the biggest social event for Washington's political-media class
▼ + stars: | 2023-04-27 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

On Saturday, the group plans to blockade the White House Correspondents' Association dinner in Washington, DC. So the White House Correspondents' Association dinner is an appropriate target, Salamon said. The White House did not return requests for comment. Haught acknowledged she had little political choice because GOP candidates have shown paltry interest in prioritizing climate action. "If you're putting your body on the line and risking a record of arrest, that shows you're serious," Haught said.

☆ VC firms create $60 billion-plus climate tech alliance with backing from the UN
▼ + stars: | 2023-04-25 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

A group of venture capital firms including Tiger Global and Union Square Ventures on Tuesday set up an alliance aimed at making private tech investing more climate-friendly. Called the Venture Climate Alliance (VCA), the coalition of more than 20 climate tech and generalist funds seeks to get the VC industry to increase its commitments to climate tech, a branch of technology devoted to finding solutions to the climate crisis. Generalist VC firms will need to make routine assessments of their carbon footprint, align their early-stage startup bets with net-zero goals. It is not the first initiative to bring climate's role in startup investing to the forefront. The alliance will fall under the Glasgow Financial Alliance for Net Zero (GFANZ), a group formed during the COP26 climate conference.

☆ Pace of rise in global sea level has doubled, UN climate report says
▼ + stars: | 2023-04-21 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

[1/2] The remains of houses are pictured as rising sea levels destroy homes built along the shoreline, forcing villagers to relocate, in El Bosque, Mexico, November 7, 2022. Extreme glacier melt and record ocean heat levels - which cause water to expand - contributed to an average rise in sea levels of 4.62mm a year between 2013-2022, the U.N. agency said in a major report detailing the havoc of climate change. "We have already lost this melting of glaciers game and sea level rise game so that's bad news," WMO Secretary-General Petteri Taalas told a press conference. Rising sea levels threaten some coastal cities and the very existence of low-lying states such as the island of Tuvalu - which plans to build a digital version of itself in case it is submerged. Climate scientists have warned that the world could breach a new average temperature record in 2023 or 2024, fuelled by climate change and the anticipated return of warming El Niño conditions.

☆ Earth Day 2023: The world just failed its annual health checkup
▼ + stars: | 2023-04-21 | by ( Laura Paddison | ) edition.cnn.com time to read: +5 min

The WMO’s annual State of the Climate Report, published Friday ahead of Earth Day, is essentially a health checkup for the world. Global sea levels climbed to the highest on record due to melting glaciers and warming oceans, which expand as they heat up. “Communities and countries which have contributed least to climate change suffer disproportionately.”A man uses a hand fan in a park in central Madrid during a heatwave, on August 2, 2022. The hottest year on record, 2016, was the result of a strong El Niño and climate change, said Baddour. “This is really a wake up call that climate change isn’t a future problem, it is a current problem.

☆ World could face record temperatures in 2023 as El Nino returns
▼ + stars: | 2023-04-20 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

REUTERS/Issei KatoBRUSSELS, April 20 (Reuters) - The world could breach a new average temperature record in 2023 or 2024, fuelled by climate change and the anticipated return of the El Nino weather phenomenon, climate scientists say. During El Nino, winds blowing west along the equator slow down, and warm water is pushed east, creating warmer surface ocean temperatures. "El Nino is normally associated with record breaking temperatures at the global level. Climate models suggest a return to El Nino conditions in the late boreal summer, and the possibility of a strong El Nino developing towards the end of the year, Buontempo said. The world's hottest year on record so far was 2016, coinciding with a strong El Nino - although climate change has fuelled extreme temperatures even in years without the phenomenon.

☆ US House committee votes to repeal Biden solar panel policy
▼ + stars: | 2023-04-19 | by ( Nichola Groom | ) www.reuters.com time to read: +2 min

[1/3] Solar panels are set up in the solar farm at the University of California, Merced, in Merced, California, U.S. August 17, 2022. Biden suspended tariffs last June as part of a key pillar of his clean energy policy. The resolution passed the House Ways and Means committee 26 to 13. "The Ways and Means Committee just took a hammer to business certainty and American energy independence," Solar Energy Industries Association President Abigail Ross Hopper said in a statement. Months later, Commerce issued a preliminary decision to extend existing tariffs on Chinese solar products to goods from those nations.

☆ Some electric vehicles from BMW, Nissan, Hyundai and Volkswagen will no longer get federal tax credits
▼ + stars: | 2023-04-18 | by ( Emma Newburger | ) www.cnbc.com time to read: +4 min

Brown | AFP | Getty ImagesFewer electric vehicles now qualify for federal tax credits after the Biden administration this week unveiled stricter rules for battery sources that will prioritize domestically manufactured models. The new list published by the Treasury Department includes 16 U.S. manufactured models from Ford , General Motors , Tesla and Stellantis . Ten of the models on the new list will qualify for the full $7,500 tax credit, with the rest qualifying for half that amount. Vehicles losing credits include those from BMW, Hyundai, Nissan, Rivian , Volkswagen and Volvo Cars. The bill set various manufacturing requirements for new all-electric and plug-in hybrid vehicles to qualify for the $7,500 tax credit.

[1/4] A view of a computer-rendered image of Climeworks' Mammoth direct air capture plant is seen in this undated handout picture obtained by Reuters, June 28, 2022. Leading the charge, the U.S. government has offered $3.5 billion in grants to build the factories that will capture and permanently store the gas - the largest such effort globally to help halt climate change through Direct Air Capture (DAC) and expanded a tax credit to $180/tonne to bolster the burgeoning technology. The sums involved dwarf funding available in other regions, such as Britain which has pledged up to 100 million pounds ($124 million) for DAC research and development. That compares with $12 billion in federal spending to drive demand for personal and commercial electric vehicles, Boston Consulting Group estimated. Occidental Petroleum has said it is well positioned for federal grants for what could be the biggest Direct Air Capture plants in the world.

☆ Germany Quits Nuclear Power, Ending a Decades-Long Struggle
▼ + stars: | 2023-04-14 | by ( Melissa Eddy | Erika Solomon | ) www.nytimes.com time to read: +1 min

It began as a movement of pacifists chaining themselves to fences outside nuclear power plants. Germany’s three remaining reactors will be shut down by Saturday — ending nuclear power generation in Europe’s largest economy. Britain, Finland and France are doubling down on nuclear energy as a source of reliable electricity and extremely low carbon emissions. Last year, Poland signed with Westinghouse Electric to build its first nuclear power plant, some 200 miles east of the German border. In the United States, the Biden administration is backing technology to build a new generation of smaller nuclear reactors as a tool of “mass decarbonization.”

☆ Take Five: How bad is it?
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +5 min

China and Britain release key economic data and officials from the Group of Seven nations talk climate goals. 1/ EARNINGS RECESSIONU.S. earnings season goes up a gear and the outlook is gloomy due to the regional banking crisis and the most aggressive monetary policy tightening in decades. Analysts expect Q1 S&P 500 earnings to fall 5.2% from the year-ago period, Refinitiv I/B/E/S data as of April 7 showed. In a sign of which way the authorities want lending rates to head, smaller regional banks have already cut deposit rates. China GDP vs 1-year MLF rate4/ NO ALARMS, NO SURPRISESIt's a big week for UK data, with February jobs figures on Tuesday and March inflation numbers Wednesday.

☆ Elderly Swiss women bring European court's first climate case
▼ + stars: | 2023-03-30 | by ( Emma Farge | ) www.reuters.com time to read: +3 min

STRASBOURG, March 29 (Reuters) - Thousands of elderly Swiss women have joined forces in a groundbreaking case heard on Wednesday at the European Court of Human Rights, arguing that their government's "woefully inadequate" efforts to fight global warming violate their human rights. More than 100 supporters and climate activists from Greenpeace gathered outside the courtroom, holding banners and flowers. Stefanie Brander, a member of the association Senior Women for Climate Protection, said that she felt the government had underestimated the group until now. [1/8] A group from the Senior Women for Climate Protection association hold banners outside the European Court of Human Rights in Strasbourg, France March 29, 2023. The Swiss government, which twice won in domestic courts in a six-year legal battle, has argued that the case is inadmissible.

☆ Australia passes tougher emissions reduction law that hits gas investments
▼ + stars: | 2023-03-30 | by ( ) www.reuters.com time to read: +2 min

SYDNEY, March 30 (Reuters) - New rules that cap total Australian greenhouse gas emissions and curb some new gas and coal investments in the country will come into effect on 1 July after parliament passed an upgraded emissions reduction plan on Thursday. Negotiations with the Greens, who wanted a ban on all new fossil fuel investments, resulted in a law including a hard total emissions cap, ministerial review for projects that raise total emissions and compulsory disclosures for polluters that rely heavily on carbon offsets to meet their targets. Under the revised legislation, projects such as the massive Browse field that Woodside Energy (WDS.AX) wants to develop would have to have carbon capture and storage to achieve net zero. The legislation also requires all new gas projects in the Beetaloo Basin to have net zero carbon emissions and new gas fields supplying existing liquefied natural gas (LNG) plants to have net zero reservoir emissions, imposing new costs. Reporting by Lewis Jackson; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ Premarket stocks: How big of a problem is greedflation?
▼ + stars: | 2023-03-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

“Executives at SVB and Signature [Bank] took wild risks and must be held accountable for exploding their banks,” Warren said. Republican Senators say the Fed’s focus on climate change led to banking turmoilRepublican Senators repeatedly insinuated on Tuesday that the recent US banking turmoil came as a result of the Federal Reserve’s focus on climate change. In his opening statement, Republican Sen. Tim Scott of South Carolina, the ranking member of the banking committee, called the Fed’s focus on climate change a waste of time. It’s what our supervisors do all the time.”In an interview with Montana Public Radio in 2014, Daines said that “the jury’s still out” on whether climate change is real. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”

A pedestrian walks past the Federal Reserve Headquarters on March 21 in Washington, DC. Daines also accused the Federal Reserve Bank of San Francisco of prioritizing addressing climate change over the risks presented by higher interest rates. In an interview with Montana Public Radio in 2014, Daines said that "the jury’s still out" on whether climate change is real. These responsibilities are tightly linked to our responsibilities for bank supervision. The public reasonably expects supervisors to require that banks understand, and appropriately manage, their material risks, including the financial risks of climate change.”

Entrepreneur Luke Iseman said the sulfur dioxide in the balloons would deflect sunlight and cool the atmosphere, a controversial climate strategy known as solar geoengineering. The Mexican government told Reuters it is now actively drafting “new regulations and standards” to prohibit solar geoengineering inside the country. While the Mexican government announced its intention to ban solar geoengineering in January, its current actions and plans to discuss geoengineering bans with other countries have not been previously reported. GLOBAL GEOENGINEERING BANClimate policy experts said Mexico is in a position to help set the rules for future geoengineering research. David Keith, a professor of applied physics and public policy at Harvard University who has dedicated much of his research to solar geoengineering, called Iseman's launch a "stunt."

☆ EU was set to ban internal combustion engine cars. Then Germany suddenly changed its mind
▼ + stars: | 2023-03-24 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +8 min

CNN —When EU lawmakers voted to ban the sale of new combustion engine cars in the bloc by 2035, it was a landmark victory for climate. With cars and vans responsible for around 15% of its total greenhouse gas emissions, a phase-out of polluting vehicles is a key part of EU climate policy. The law envisions a total ban on the sale of new diesel and gasoline cars by 2035. Germany is now pushing against the idea that all internal combustion engines must be banned. Other European countries, including Italy, Poland and the Czech Republic, have joined Germany in demanding the exception.

Despite SVB's demise knocking the value of banks globally, particularly European lender Credit Suisse, U.N. climate envoy Mark Carney said he, too, did not expect a "material" impact on climate tech funding. "At a minimum, this will likely drive continued tightening of investments and a push to have their portfolio companies cut (cash) burn," it said in a note. Mona Dajani, partner at law firm Shearman and Sterling, said most of her clean energy clients either banked with SVB or faced some other impact from its troubles. SVB "cultivated a reputation as being very friendly to clean energy... they were willing to underwrite more risk," she said. "Not all the companies are going to make it and now that’s happening to climate companies."

☆ Premarket stocks: Jerome Powell's testimony sent markets reeling. That may be a good thing
▼ + stars: | 2023-03-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Federal Reserve Chairman Jerome Powell on Tuesday cleared the way for larger interest rate hikes at this month’s central bank policy meeting, sending markets into a tailspin. The S&P 500 fell 1.5%, the Dow dropped 575 points, or 1.7%, and the tech-heavy Nasdaq composite ended 1.3% lower. After Powell’s testimony, market expectations for a half-percentage point rate hike spiked. If inflation fails to continue falling, he said, the Fed will keep trying to cool things down by raising rates. Even if Powell was sure that January’s economic data was a fluke, he still wants to maintain the Fed’s credibility.

☆ Column: Future of nuclear power growth lies outside Europe and N. America: Maguire
▼ + stars: | 2023-03-08 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

Nuclear power generation by key regionThese divergent trends are being fuelled by contrasting and somewhat contradictory views of nuclear power's role in the global energy mix. In Western economies, nuclear power is commonly characterized as an outdated and potentially harmful component of a legacy energy system that requires urgent overhaul if ambitious climate targets are to be achievable by 2050. Similarly, the most recent expansion phase for nuclear power in the United States was in the late 1980s, meaning that many of the country's youngest plants are already in their fourth decade of deployment. China, by far the world's most aggressive renewable energy deployer, is also leading the charge in terms of planned expansions to nuclear power. The country is expected to account for 44% of the prospective total increases in nuclear capacity, which would see it handily leapfrog the United States as the global nuclear leader.

☆ How to meet evolving regulations around climate change and water conservation without sacrificing profit
▼ + stars: | 2023-02-09 | by ( Sponsor Post | Created Insider Studios With Ecolab | ) www.businessinsider.com time to read: +6 min

Governments are creating incentives to help businesses reduce carbon emissions. Minimizing water use can help organizations comply with government regulations without sacrificing profit. Understanding the ties between water use and climate change is an important step for businesses as they look to meet evolving government regulations. "This is a great example of how Ecolab Water for Climate is helping organizations meet evolving regulations." These tactics help businesses achieve profitable outcomes, leverage incentives, and meet regulatory requirements.

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