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☆ Biden administration moves toward approval for major Alaska oil drilling project
▼ + stars: | 2023-02-01 | by ( Emma Newburger | ) www.cnbc.com time to read: +2 min

The Biden administration on Wednesday recommended a scaled-down version of a major oil drilling project in the North Slope of Alaska, taking a step toward approving the $8 billion Willow plan that climate groups have long condemned. The Biden administration has 30 days to issue a final decision on whether to approve the Willow project. The Willow project would produce about 600 million barrels of oil over 30 years and would generate around 278 million metric tons of carbon emissions, according to Interior estimates. Kristen Miller, executive director of the nonprofit Alaska Wilderness League, called the Willow project a "massive climate disaster" and urged the administration to reverse its decision to advance the plan. "We should be prioritizing ways to preserve this irreplaceable ecosystem, by protecting critical wildlife and subsistence resources and avoiding increased climate pollution.

☆ Polar bear emerged unseen from snowstorm to kill mom and son before it was shot
▼ + stars: | 2023-01-20 | by ( The Associated Press | ) www.nbcnews.com time to read: +4 min

It was the first fatal polar bear attack in 30 years in Alaska, the only U.S. state that is home to the animals. The view from the front of the school in Wales, Alaska, on Sunday. However, polar bears see humans as prey, said Geoff York, the senior director of conservation at Polar Bear International. Polar bears are the largest bear species, according to the U.S. Polar bears generally feed on seals, but also walruses and beluga whales.

☆ One year after volcanic blast, many of Tonga's reefs lay silent
▼ + stars: | 2023-01-15 | by ( Gloria Dickie | ) www.reuters.com time to read: +5 min

Coral reefs were turned to rubble and many fish perished or migrated away. Following the eruption, the Tongan government said it would seek $240 million for recovery, including improving food security. SILENT REEFSThe vast majority of Tongan territory is ocean, with its exclusive economic zone extending across nearly 700,000 square kilometres (270,271 square miles) of water. It is likely volcanic ash smothered many reefs, depriving fish of feeding areas and spawning beds. While volcanic eruptions on land eject mostly ash and sulfur dioxide, underwater volcanos jettison far more water.

The policy was put into effect by Trump's administration in February 2020 and ended by Biden's in March 2021. The judge later rejected the Republican bid to intervene, saying the request by the state officials came too late, and the Chicago-based 7th U.S. The Republican officials had told the justices that they should be able to defend Trump's rule, saying it has been estimated to save states collectively about $1 billion annually. The Supreme Court last year heard arguments over a separate bid by Republican state officials to intervene in defense of Trump's public charge rule but ultimately dismissed the case without resolving the issue. Texas on Thursday filed a separate federal lawsuit challenging Biden's rule.

☆ Christmas gifts come by boat to isolated Romanian Danube Delta villages
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +2 min

[1/4] Romanian coast guard deliver Christmas presents to villagers at an unspecified location, along the Danube delta, Romania December 20, 2022. So, days before Christmas, Romanian coast guard officers braced against icy winds to deliver care packages of food and cleaning staples as well as fruits and sweets to some of the most vulnerable villagers. The Danube Delta, sprung where the river meets the Black Sea, straddles the Romanian-Ukrainian border. So the arrival of the coast guard bearing gifts will be warmly welcomed. "The Sulina coast guard want to bring a little joy in people's homes for the holidays in the isolated villages of the Danube Delta," said Chief Inspector Razvan Duta.

The funds, which reflect a range of environmental, social and governance (ESG) issues, are also set to lag the performance of non-ESG funds for the first time in five years, data shows, after the fossil fuel shares they typically shun soared. "They (ESG funds) are subject to the same market movements," she added. Reuters GraphicsHowever, non-ESG funds have also suffered withdrawals, losing $420 billion in the first 11 months of 2022, the data shows. Reuters GraphicsUNDERPERFORMINGAfter several years of outperform - thanks partly to large holdings of U.S. technology stocks - ESG equity funds, which make up the bulk of assets in the sector, have fallen back to earth. ESG equity funds have lost 18% to end-November, versus a 15.8% fall in non-ego equity funds, based on Refining Lipper data.

Exxon has yet to set any 2030 Scope 3 target. Shell said it believed its targets are aligned with the U.N. climate targets. We remain committed to constructive engagement with our investors," a Shell spokesperson said in a statement. The group of investors co-filing the resolutions includes Edmond de Rothschild Asset Management, Degroof Petercam Asset Management and Achmea Asset Management. Exxon and Chevron have in the past successfully blocked attempts to file climate resolutions with the Securities and Exchange Commission.

[1/2] A trader works as a screen displays the trading information for BlackRock on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 14, 2022. Elsewhere, Florida said it plans to pull $2 billion in investments from BlackRock, which said the action put politics above investor interest. BlackRock, meanwhile, also faces pressure from campaigners and others to drive quicker change by using its voting power to force boards to act to reduce carbon emissions. Against that backdrop, BlackRock said in an annual update on its stewardship policies, which guide talks with boards ahead of shareholder meetings, that it had only made a "few changes". One was to mention in the policy for the first time its support for enhanced disclosures from companies exposed to risks and opportunities relating to nature.

BRUSSELS, Dec 17 (Reuters) - European Union negotiators were set on Saturday morning to resume efforts to reach a deal on overhauling the EU carbon market, the bloc's main policy tool for fighting global warming, after a first round of talks failed on Friday. Meeting that goal will require the EU carbon market to be reformed to cut emissions faster, which it does by requiring around 10,000 power plants and factories to buy CO2 permits when they pollute. Negotiators are at odds over how quickly to end the free CO2 permits the EU gives industries to protect them from foreign competition. But EU lawmakers want to exclude private consumers from the new CO2 market, a stance opposed by EU countries. If approved, the revamped carbon market will form the centrepiece of a package of 12 new EU policies designed to cut planet-heating emissions faster.

☆ Four leaders sign agreement to bring green Azeri energy to Europe
▼ + stars: | 2022-12-17 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: 1 min

BUCHAREST, Dec 17 (Reuters) - The leaders of Azerbaijan, Georgia, Romania and Hungary signed an agreement on Saturday on an underwater electric cable under the Black Sea to carry green Azeri energy to Europe. "Given the current security context marked by the military aggression against Ukraine we need to cooperate better and show more solidarity to mitigate common challenges," Romanian President Klaus Iohannis told the meeting, also attended by European Commission President Ursula von der Leyen. Reporting by Gergely Szakacs and Luiza Ilie, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Aluminium companies compete to sell low-carbon products
▼ + stars: | 2022-12-17 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: +2 min

LONDON, Dec 17 (Reuters) - Aluminium companies have launched a raft of aluminium products with lower carbon emissions, largely by either using hydro power or recycled material. Below are low-carbon aluminium brands by the major producers. * ALCOA (AA.N)ECOLUM - Primary aluminium with a total carbon footprint of under 4 tonnes of CO2, including bauxite mining and refining. * RIO TINTO (RIO.L), (RIO.AX)RENEWAL - Primary metal with CO2 emissions of 4 tonnes or less of CO2 per tonne of metal. * CHINA HONGQIAO GROUP (1378.HK)The Chinese producer has introduced two low-carbon products, HQALoop and HQALight, one made with recycled aluminium and the other from low-carbon aluminium produced in Yunnan using hydro electricity and other renewables.

CNN —One week into her presidency, Peru’s new President Dina Boluarte is battling to contain widespread protests that erupted after the ousting of former President Pedro Castillo. Boluarte announced Tuesday the government will set up a crisis management committee as protests calling for political change continue across the country. Boluarte, his former vice president, has since become president, and on Monday proposed bringing general elections forward two years to April 2024 during a televised speech. At least seven people have died in the protests ongoing in Peru, according to a tweet from the health ministry on Wednesday. Boluarte also doesn’t belong to a political party after she was expelled from Peru Libre due to internal disagreements.

Negotiators from EU countries and the European Parliament aim to strike a deal on the world-first law on Tuesday evening - after which, both sides would need to formally rubber stamp it. The EU scheme would require companies importing goods into Europe to buy certificates to cover the CO2 emissions embedded in those products. The aim is create a level playing field between overseas firms and domestic EU industries, who must buy permits from the EU carbon market when they pollute. The tariff is part of a package of EU policies designed to help the world avoid disastrous climate change by cutting EU emissions 55% by 2030 from 1990 levels. Separate EU negotiations later this week will seek a deal on the centrepiece of that package - a reform of the EU carbon market.

☆ Investor group launches campaign to help companies protect nature
▼ + stars: | 2022-12-11 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: +2 min

REUTERS/Luis EcheverriaMONTREAL, Dec 11 (Reuters) - Here's the plan: Select 100 companies whose business burdens nature. Such is the vision of a campaign called "Nature Action 100" launched on Sunday by 11 investment firms hoping to encourage companies to help preserve ecosystems that support more than half the world's economic output. "The aim of Nature Action 100 is to engage those companies that have the highest impact on nature, not only to protect the natural environment but also to mitigate the risks these companies face from mounting pressure to effectively address biodiversity issues," Wearmouth said in a statement. The list of 100 companies will be published next year. Nature Action 100 would seek to select 100 companies for investors to focus on in suggesting how the private sector can navigate any new rules and monitoring their progress, the group said.

[1/3] A natural gas flare on an oil well pad burns as the sun sets outside Watford City, North Dakota January 21, 2016. REUTERS/Andrew Cullen/File PhotoWASHINGTON, Dec 9 (Reuters) - Major energy companies are not doing enough to prevent the worst effects climate change despite public promises to fight the problem, a U.S. House panel said about documents released on Friday that it got in a probe. Shell's Smith said the House panel's probe failed to uncover evidence of a climate disinformation campaign. "Today's new evidence makes clear that these companies know their climate pledges are inadequate, but are prioritizing Big Oil’s record profits over the human costs of climate change." The House panel previously released a memo on Sept. 14 showing that oil majors "greenwashed" their record on climate change "through deceptive advertising and climate pledges - without meaningfully reducing emissions."

☆ EU expects only partial fix from talks on U.S. green subsidy law
▼ + stars: | 2022-12-08 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: +2 min

REUTERS/Kevin Lamarque/File PhotoBRUSSELS, Dec 8 (Reuters) - The European Union should not expect talks with the United States to resolve all the problems it sees in the U.S. Inflation Reduction Act and is not ruling out any potential response, EU trade chief Valdis Dombrovskis said on Thursday. The EU argues that the $430 billion act, which grants consumers tax credits for U.S.-produced electric vehicles (EV) and other green products, could make the United States a world leader in the EV market at Europe's expense. "And then we'll see to which extent our concerns are taken into account," he told lawmakers. At that point, the European Union would have to consider its response, Dombrovskis said, adding that the bloc did not want to enter a subsidy race. Reporting by Philip Blenkinsop Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

DUBAI, Dec 8 (Reuters) - Saudi Arabia and China have signed memorandums of understanding on hydrogen energy and the encouragement of direct investment between the two states, state news agency (SPA) said on Thursday, during a state visit by Chinese President Xi Jinping to Riyadh. Xi and Saudi Crown Prince Mohammed bin Salman also signed an agreement for harmonization between the kingdom's 2030 vision and Beijing's belt and road initiative, SPA added. Reporting by Riham Alkousaa; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ Air Products, AES to invest $4 bln in building largest U.S. green hydrogen plant
▼ + stars: | 2022-12-08 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Industrial gas supplier Air Products (APD.N) and renewable energy firm AES Corp (AES.N) said on Thursday they would invest about $4 billion to build the largest U.S. green hydrogen facility, amid rising demand for the clean fuel. The companies aim to start commercial operations by 2027 at the Texas facility, which will be capable of producing over 200 metric tons of green hydrogen per day. Air Products, which had sales of $12.7 billion in fiscal 2022, will serve as the exclusive acquirer and marketer of the green hydrogen from the plant under a 30-year deal. AES and Air Products will have equal ownership of the plant's renewable energy and electrolyzer assets, which help break water into hydrogen and oxygen, they added. There has been an uptick in demand for green hydrogen, produced using renewable energy, which could include offshore wind and solar, to power electrolysis plants.

LISBON, Dec 8 (Reuters) - Portugal wants to speed up investments in green hydrogen projects, which are essential to decarbonize the economy, and will end mandatory environmental assessments for them in March 2023, Prime Minister Antonio Costa said. Portugal expects to become a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend 10 billion euros ($10.51 billion). Environmentalists have criticized the so-called Simplex package as it may have impacts on nature and the well-being of populations. Portugal's largest utility EDP (EDP.LS) and oil and gas company Galp Energia (GALP.LS) are both planning to build green hydrogen plants in the industrial hub of Sines. The three main glass producers and two biggest cement makers, together accounting for 10% of the country's industrial carbon emissions, also joined a new consortium to launch a green hydrogen plant.

☆ Keadby 3 becomes first UK carbon capture power station to win planning permission
▼ + stars: | 2022-12-08 | by ( Expert Analysis | Reuters Professional | Calls Grow For Companies To Disclose Impacts On Nature In Bid To Plug Finance Gap | ) www.reuters.com time to read: +1 min

Companies Sse Plc FollowEquinor ASA FollowLONDON, Dec 8 (Reuters) - Keadby 3 Carbon Capture Power Station in northern England has become the UK's first carbon capture and storage (CCS) project to receive planning permission. The project is backed by Britain's SSE Thermal, part of SSE (SSE.L), and Norwegian energy company Equinor (EQNR.OL). The power station could be operational as early as 2027. SSE Thermal and Equinor are also collaborating on building Peterhead Carbon Capture Power Station in the northeast of Scotland. They are also developing Keadby Hydrogen Power Station and Aldbrough Hydrogen Storage.

The proposal from the U.S. Trade Representative's office to be negotiated with the European Union would create a "club" of countries seeking to reduce carbon emissions. Countries with emissions exceeding the standards would pay higher tariffs when exporting metals to countries with lower emissions, the sources briefed on the plans said. Countries with steel and aluminum plant emissions at or below the standards would pay lower tariffs, the sources said. U.S. steelmakers claim to have the world’s lowest carbon emissions levels, in part because 70% of American steel is made from scrap iron in electric-arc furnaces rather than coal-fired blast furnaces. The U.S.-EU talks on low-carbon steel have been aimed in large part at China, which relies on coal for most of its steel output as well as low-grade iron ore that contributes to high carbon emissions.

Companies American Gas Association FollowWASHINGTON, Dec 7 (Reuters) - The White House on Wednesday launched the first standard on cutting carbon emissions from federal buildings as part of the Biden administration's policy on curbing climate change. The Federal Building Performance Standard requires federal agencies to cut energy use and electrify equipment and appliances to achieve zero emissions in 30% of their buildings by square footage space by 2030. U.S. President Joe Biden wants federal buildings to be emissions free by 2045 as part of his goal of decarbonizing the economy by 2050. To get there, agencies will be buying American-made products such as heat pumps, electric water heaters and other energy efficiency technologies, the White House said. "Eliminating natural gas in federal buildings is an impractical, unscientific and expensive idea that will have no environmental benefit," said Karen Harbert, AGA president and chief executive.

The effort, known as the Net Zero Asset Managers (NZAM) initiative, was launched in late 2020 to encourage fund firms to reach net zero emission targets by 2050 and limit the rise in global temperatures. As of Nov. 9, NZAM counted 291 signatories representing some $66 trillion in assets under management. As recently as May Vanguard was touting commitments it had made in line with NZAM's goals. Vanguard said the change "will not affect our commitment to helping our investors navigate the risks that climate change can pose to their long-term returns." "Vanguard was never serious about implementing its net zero commitment" Cuvelier said in a statement.

As the COP15 biodiversity summit kicks off in Montreal, businesses and corporate leaders are pushing for an ambitious agreement with strong policies that will provide guidance to companies seeking to change. They are under increasing pressure to show progress in tackling climate change and reducing harm to the environment. The agency has said some $384 billion will be needed each year for nature projects by 2025. "If we take that mindset to nature, it leads to the investment models that would allow us to invest in nature as infrastructure," he said. "Two years ago, all these governments around the world said 'let's put trillions of dollars into nature.'

☆ Do Humans Owe Animals Equal Rights? Martha Nussbaum Thinks So.
▼ + stars: | 2022-12-05 | by ( David Marchese | ) www.nytimes.com time to read: +15 min

Photo illustration by Bráulio Amado Talk Do Humans Owe Animals Equal Rights? But does it then follow that we think of animals’ lives as being equal in value to humans’? That would lead to redoubling our efforts to make sure animals don’t perish in the future. Just think: Women are often raped, and that has been so all throughout human history. Now, as an incrementalist I want to be cautious here because I don’t think that predatory animals are doing anything wrong.

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