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☆ U.S. Expected to Approve ConocoPhillips Oil-Drilling Project in Alaska
▼ + stars: | 2023-03-10 | by ( Benoît Morenne | Andrew Restuccia | ) www.wsj.com time to read: 1 min

An exploratory drilling camp at the proposed site of the Willow oil project in Alaska in 2019. The Biden administration is preparing to approve the massive Willow oil-drilling project in the Alaskan Arctic over the objections of environmentalists and many Democrats who wanted the project scuttled, according to people familiar with the matter. A compromise that is expected to be put forward by the Biden administration clears the way for ConocoPhillips to proceed with the development of three drilling sites, down from the five originally sought by the company.

The SFDR defines sustainable investment as contributing to "an environmental or social objective", assessed by indicators such as use of raw materials or production of waste. The people Reuters spoke to said discrepancies among fund portfolios reflected a lack of clarity from the Commission over what constitutes a sustainable investment. Reuters GraphicsReuters GraphicsTEMPERATURE GAUGEMSCI, the finance industry data provider, has developed a way of checking on investment funds' green credentials with its ESG Implied Temperature Rise tool. Among them, for example, are BlackRock's Sustainable Energy Fund, Nordea's Global Climate and Environment Fund and Pictet's Global Environmental Opportunities Fund. "The characterisation of what constitutes a sustainable investment under the SFDR is also a concept that needs further clarifications at European level."

☆ Cramer-fave Clean Harbors is the Ghostbusters of environmental services
▼ + stars: | 2023-03-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCramer-fave Clean Harbors is the Ghostbusters of environmental servicesMad Money host Jim Cramer talks to Clean Harbors CEO Alan McKim about his decision to step down and take on a new role with the company.

☆ Active vs. passive managers: 2022 was a surprisingly good year for active management
▼ + stars: | 2023-03-07 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

Active vs. passive managers: 2022 was a surprisingly good year for active management. On the plus side for active managers: for large-cap equity fund managers (the largest and most closely-watched category), 51% underperformed their benchmarks last year. Here's the bad news for active managers Active managers often say that while passive investing may often outperform, during periods of high volatility they will have a chance to shine. For example, S & P 500 Growth was down 29%, but S & P 500 Value was down only 5%. "A manager selecting a random stock would have had a 59% chance of beating the S & P 500 and a 30% chance of outperforming the S & P 500 by 20% or better," the authors wrote.

☆ 5 non-fiction books everyone should be reading about work in 2023
▼ + stars: | 2023-03-04 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

If you're looking for inspiration or feel stuck in your job, these 5 career books, recommended by Goodreads, can help put you in the right mindset. These books, all published in 2022, have at least a 4-star rating on Goodreads and at least 1,000 members added the book to their "want-to-read" shelf on the site. Chance walks readers through how to cultivate charisma, become a stronger negotiator and deal with manipulative people. Pfeffer introduces seven rules for building a fulfilling, successful career, including "break the rules" and "network relentlessly," as well as how to follow them in your own life. As one review noted: "This book felt like the wakeup call I had been seeking for years now."

☆ Analysis: US Republicans aim to stymie gun sale codes at state level
▼ + stars: | 2023-03-03 | by ( Ross Kerber | ) www.reuters.com time to read: +6 min

"I don't want card companies to raise interest rates or fees on merchants as a way to dissuade them" from selling guns and ammunition, Owen told Reuters. Visa Inc (V.N) declined to comment on the state bills. Other payment card companies Discover, Mastercard Inc and (MA.N) American Express Co (AXP.N) did not respond to requests for comment. Owen, the Mississippi state legislator, said he expects that payment companies could address any technical issues the bills could create. "I think the credit card companies are going to have to adapt on a state-by-state basis," Owen said.

☆ The US dollar is at a crossroads
▼ + stars: | 2023-03-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Wall Street investors are reaching for their neck braces in preparation for yet another volatile swing in stock markets: A surging US dollar. What’s happening: The US dollar “finds itself at a significant crossroads yet again,” said Krosby. Don’t forget the debt ceiling: Another significant threat to the dollar is looming in Congress — the ongoing debt ceiling fight. “It would certainly undermine the role of the dollar as a reserve currency that is used in transactions all over the world. Initial claims have come in lower than expected in recent weeks and remain well below their pre-pandemic levels.

☆ Australian Indigenous group steps up campaign to protect sacred rock art
▼ + stars: | 2023-03-02 | by ( Praveen Menon | ) www.reuters.com time to read: +3 min

[1/4] Murujuga indigenous custodians campaign to protect sacred rock art in The Burrup Peninsula, Sydney, Australia July 11, 2022. Save our Songlines/Handout via REUTERSSYDNEY, March 2 (Reuters) - An Australian Indigenous group on Thursday stepped up its campaign against industrial development in Western Australia's Burrup Peninsula, a key gas export hub, saying in a protest in Sydney that planned projects would damage ancient rock art. Australia last month formally nominated the Murujuga Indigenous cultural landscape for a UNESCO World Heritage listing. The Murujuga Aboriginal Corporation, the traditional owners' representative, led the preparation of the World Heritage nomination. Save our Songlines has disagreed with the group over the industrial development and has raised doubts that a World Heritage listing would protect the ancient landscape from industrial damage.

☆ Reflecting sunlight to cool the Earth must be studied before climate change gets much worse, urges group of 60 scientists
▼ + stars: | 2023-02-27 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Greenhouse gas emissions must be immediately and urgently reduced, as that's the only permanent way to limit global warming. "Even with aggressive action to reduce GHG emissions it is increasingly unlikely that climate warming will remain below 1.5-2°C in the near term," the scientists wrote. "Aerosols from human activities are currently estimated to be offsetting about a third of greenhouse gas climate warming," the scientists wrote. Cirrus cloud thinning, CCT, which involves putting aerosols into cirrus clouds to reduce the amount of infrared radiation that the Earth retains. In some cases, they might be less harmful if used in some combination, the scientists wrote.

☆ SIGN UP NOW: Making sense of digital transformation in finance and why sustainable investing matters
▼ + stars: | 2023-02-23 | by ( Business Insider | ) www.businessinsider.com time to read: +2 min

Leaders in banking, fintech, and finserv will discuss the future of finance and the impact of digital transformation. Insider's free virtual event, "Finance Meets its Future," will feature speakers from Amberdata, Lazard Asset Management, and more on March 23, 2023, at noon ET. Sign up for our newsletter to get the latest stories in hedge funds, PE, fintech, and banking — delivered daily to your inbox. Insider's virtual event, "Finance Meets its Future,'' presented by Amberdata, takes place on Thursday, March 23, 2023, at noon ET. Sessions include:Demystifying digital transformation in financeEmbracing digital assetsThe future of payments will be frictionlessNavigating ESG investing challengesSpeakers include:Shawn Douglass, CEO and cofounder, AmberdataSoups Ranjan, CEO and cofounder, SardineAniket Shah, Global Head of Environmental, Social and Governance (ESG) and Sustainable Finance Strategy, Jefferies GroupNikita Singhal, Cohead of Sustainable Investment and ESG, Lazard Asset Managementand more!

☆ Walmart sees lower 2023 performance in time of economic uncertainty
▼ + stars: | 2023-02-21 | by ( Siddharth Cavale | ) www.reuters.com time to read: +5 min

"There's still a lot of trepidation and uncertainty with the economic outlook. "So, that makes us cautious on the economic outlook because we simply don't know what we don't know." Home Depot (HD.N) also forecast weaker-than-expected annual profits on Tuesday as soaring prices hit demand for home-improvement products. They want the allure of savings and Walmart provides that," said McNew, whose firm holds about 350,000 Walmart shares. Walmart signs are displayed inside a Walmart store in Mexico City, Mexico March 28, 2019.

The comments by the head of the Environmental Protection Agency (EPA) were echoed by President Joe Biden later on Tuesday. The EPA also ordered that Norfolk Southern officials attend town meetings about the Feb. 3 spill in East Palestine, Ohio. The EPA order requires Norfolk Southern to submit a work plan for EPA approval for the cleanup associated with the derailment. Norfolk Southern shares closed down 1.6% on Tuesday and have slid almost 11% since Feb. 3. Norfolk Southern did not immediately reply to a request for comment on Shapiro's remarks.

The Environmental Protection Agency order requires Norfolk Southern to submit a work plan for EPA approval for the clean up associated with the Feb. 3 derailment. Norfolk Southern shares were down 1.6% on Tuesday afternoon and have slid almost 11% since Feb. 3. Norfolk Southern did not immediately reply for a request for comment on Shapiro's remarks. Although no fatalities or injuries have been reported, residents have been demanding answers about health risks and blaming Norfolk Southern, state and federal officials for a lack of information regarding the crash. Norfolk Southern said it had consulted with town leaders and was worried about the safety of its employees if they did attend.

☆ Volkswagen faces possible recalls after environmental NGO wins emissions software lawsuit
▼ + stars: | 2023-02-20 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A Volkswagen logo is pictured in a production line at the Volkswagen plant in Wolfsburg, Germany March 1, 2019. The NGO, Deutsche Umwelthilfe, is calling for Volkswagen Golf vehicles to be recalled because of software manipulation to emissions mechanisms, alleging the KBA authority should never have allowed these vehicles to be released to the market. “The case was effectively successful,” a court spokesperson said, meaning the decision by the authority to release the vehicles must be revoked. Volkswagen said in a statement it would wait to receive the full reasoning of the court to decide on next steps. The ruling concerns software Volkswagen installed to control the recirculation of exhaust gases, which EU courts have said is illegal in certain conditions but Volkswagen views as in line with the law.

BRASILIA, Feb 16 (Reuters) - Brazil's government is taking a fresh tack in its effort to crack down on illegal gold mining in the Amazon, preparing legislation that would require electronic tax receipts for the buying and selling of the precious metal, four sources with knowledge of the plans said. President Luiz Inacio Lula da Silva wants to end years of environmental backsliding under his far-right predecessor, Jair Bolsonaro, and crack down on illegal mining in the Amazon. The central bank said the goal was to implement "a new inspection system that allows the traceability of the gold extracted, as well as the adoption of electronic invoices." The situation is so bad, Ibram says, that even the central bank does not know if the gold it buys is legal or illegal. The mining lobby has been calling for the adoption of electronic invoices to end the illegal gold trade, Ibram President Raul Jungmann told Reuters.

☆ ‘Young people are going to teach us to die better’: How ‘human composting,' already legal in 6 states, could help the planet
▼ + stars: | 2023-02-16 | by ( Natasha Piñon | ) www.cnbc.com time to read: +6 min

The 31-year-old is a client of Return Home, a Seattle-area human composting facility. The first five people to sign up for Return Home's pre-planning services were under age 35, according to CEO Micah Truman. Human composting is legal in six states and countingOn a rapidly warming planet, the somewhat fringe concept is inching toward the mainstream. Human composting, also called "natural organic reduction," is now legal in six states and counting. Detractors are increasingly voicing their concernsNina Schoen first learned about Recompose in 2017, two years before human composting was even legal in Washington.

China’s official count 0 2.5 million 83,150 deaths Model based on Shanghai outbreak 1.6 million deaths LOW ESTIMATE HIGH ESTIMATE Estimate using travel patterns 970,000 deaths Estimate using recent testing data 1.5 million deaths Estimate based on U.S. death rates 1.1 million deaths China’s official count 0 2.5 million 83,150 deaths Model based on Shanghai outbreak 1.6 million deaths LOW EST. But China’s official Covid death toll for the entire pandemic remains strikingly low: 83,150 people as of Feb. 9. Four separate academic teams have converged on broadly similar estimates: China’s Covid wave may have killed between a million and 1.5 million people. Why official data underrepresents China’s outbreak83,150 deaths China’s official count on Feb. 9 0 2.5M 83,150 deaths China’s official count on Feb. 9 0 2.5 millionChina has a narrow definition of what counts as a Covid-19 death. But the work was unwavering in its ultimate conclusion: Ending the “zero Covid” policy was likely to overwhelm the health care system, producing an estimated 1.6 million deaths.

☆ The workers who are supposed to lead the US response to the climate crisis are feeling 'burned out'
▼ + stars: | 2023-02-15 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

There's a staffing crisis at the nation's top environmental agency, union officials say. The number of Environmental Protection Agency employees today is similar to the Ronald Reagan era. Sign up for our newsletter to get the latest on the culture & business of sustainability — delivered weekly to your inbox. "People are burned out," Marie Owens Powell, an EPA employee and the president of its union chapter known as AFGE Council 238, told Insider. "Communities need to implement these programs, whether it's replacing lead service lines for drinking water or cleaning up environmental pollution."

☆ Worried residents near Ohio train derailment report dead fish and chickens as authorities say it's safe to return
▼ + stars: | 2023-02-14 | by ( Aria Bendix | David K. Li | ) www.cnbc.com time to read: +5 min

Drone footage shows the freight train derailment in East Palestine, Ohio, U.S., February 6, 2023 in this screengrab obtained from a handout video released by the NTSB. For days, authorities have been telling residents of the area around East Palestine, Ohio, that it is safe to return home after a 150-car train carrying hazardous chemicals derailed Feb. 3. The Ohio Department of Natural Resources said the chemical spill resulting from the derailment had killed an estimated 3,500 small fish across 7½ miles of streams as of Wednesday. For some people who live near the derailment site, the reports continue to spur fear that they and their animals might be exposed to chemicals through the air, water and soil. The Ohio Department of Agriculture said the risk to livestock remains low.

☆ Retail CEO crisis: With recent shakeups at Kohl's, Adidas, Dollar General, and more, the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-02-11 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.

☆ Death toll rises to more than 21,000, rescues dwindle in earthquake aftermath
▼ + stars: | 2023-02-10 | by ( ) www.cnbc.com time to read: +6 min

Ahmet Izgi | Anadolu Agency | Getty ImagesEmergency crews made a series of dramatic rescues in Turkey on Friday, pulling several people, some almost unscathed, from the rubble, four days after a catastrophic earthquake killed more than 21,000. The 7.8 magnitude earthquake hit the border region between Turkey and Syria, an area home to more than 13.5 million people, early Monday morning. Mustafa Turan rushed to his hometown of Adiyaman from Istanbul hours after the quake struck to check on his relatives. Aerial footage from over the earthquake zone in Turkey revealed entire neighborhoods of high-rises reduced to twisted metal, pulverized concrete and exposed wires. A woman sits next to the body of her nephew in Kahramanmaras, on February 9, 2023, three days after a 7,8-magnitude earthquake struck southeast Turkey.

☆ Charles's coronation emblem revealed, showing British king's love of nature
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] The official emblem in English language of the coronation of Britain's King Charles created by designer Jony Ive is unveiled by Buckingham Palace, London, Britain February 10, 2023 in this handout image. The emblem features flora from all the four nations that make up the United Kingdom - the rose of England, thistle of Scotland, daffodil of Wales and shamrock of Northern Ireland, which was a tribute to Charles's love of nature, Buckingham Palace said. "The design was inspired by King Charles’ love of the planet, nature, and his deep concern for the natural world," said the designer Jony Ive. "The emblem speaks to the happy optimism of spring and celebrates the beginning of this new Carolean era for the United Kingdom." Accompanying the service, there will celebrations including traditional processions, a music concert at Windsor Castle, street parties, light shows and community volunteering, Buckingham Palace has said.

☆ Shell Directors Are Sued Over Action on Climate
▼ + stars: | 2023-02-09 | by ( Gareth Vipers | ) www.wsj.com time to read: 1 min

LONDON—An advocacy group sued the directors of Shell PLC, challenging the oil giant over what it says are failures to act on the climate crisis. ClientEarth, a group of environmental lawyers that holds a small shareholding in Shell, said it has filed a lawsuit against the board. The organization said the claim marks the first time corporate directors could potentially be held personally liable over a company’s action on fossil fuels.

☆ Norway wealth fund has sold its stakes in Adani companies
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +1 min

OSLO, Feb 9 (Reuters) - Norway's sovereign wealth fund has sold its stakes in three Adani Group companies worth just over $200 million since the start of the year, the world's largest stock investor said on Thursday. The $1.35 trillion fund at the end of 2022 held stakes in Adani Total Gas (ADAG.NS), Adani Ports & Special Economic Zone (APSE.NS) and Adani Green Energy (ADNA.NS). "We have monitored Adani for many years (on ESG) issues, many on their handling of environmental risks," he said. Norway's sovereign wealth fund at the end of 2022 held a stake in Adani Total worth $83.6 million, a stake in Adani Ports worth $63.4 million and a stake in Adani Green Energy of $52.7 million. The fund, managed by a unit of the central bank, owns 1.3% of all globally listed shares with stakes in some 9,200 companies.

LONDON, Feb 8 (Reuters) - Fewer than one in 200 companies who submit climate change-related data to a leading environmental disclosure platform have credible climate transition plans, the nonprofit platform CDP said on Wednesday in its latest review of corporate submissions. Of 18,600 companies which provided CDP with data only 81 - or 0.4% - disclosed information against 21 key indicators that CDP includes in a questionnaire and which it says represents a credible plan. CDP's key indicators include everything from whether the company board has oversight of a climate plan to financial planning. "The need for companies to develop a credible climate transition plan is not an additional element but an essential part of any future planning," Amir Sokolowski, global director, climate, at CDP said in a statement. The platform worked on its analysis with the UK Transition Plan Taskforce, which is developing mandatory standards for listed companies and financial firms to ensure plans are comparable.

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