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☆ Greenpeace-led case against Volkswagen admissible, unlikely to succeed, German court says
▼ + stars: | 2023-01-10 | by ( Victoria Waldersee | ) www.reuters.com time to read: +2 min

BRAUNSCHWEIG, Germany, Jan 10 (Reuters) - A case led by Greenpeace against Volkswagen (VOWG_p.DE) demanding that the automaker tighten its carbon reduction targets is admissible but unlikely to succeed, a German district court said on Tuesday, with a further hearing scheduled for Jan 31. However, the Braunschweig court said it was not clear whether the German ruling was applicable in a case between private entities. The peculiarity here is that this is a case of a private individual against a privately acting company... the lawsuit is unlikely to succeed," said Bastian Willers, spokesperson for the Braunschweig court. The NGO has appealed the ruling, which Greenpeace lawyer Roda Verheyen said her clients will also do if the court dismisses their case later this month. Another case by DUH against BMW in Munich is ongoing, with the next hearing scheduled for February 7.

☆ The 2023 Just 100 rankings
▼ + stars: | 2023-01-10 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: 1 min

Just Capital's annual analysis ranks the largest public companies on issues the American public says in polling are the most important. Paying a fair, living wage (the No. 1 issue); creating jobs in the U.S.; workforce retention and training; ethical leadership; carbon reduction and pollution control, are among the environmental, social and governance factors that helped the nonprofit identify the 100 top-performing companies across all industries for 2023. The Just 100 methodology evaluates Russell 1000 companies across 20 core issues, five stakeholder groups, and 245 underlying data points. According to Just Capital, on average, companies that make the Just 100 list create more jobs, pay higher wages, provide more career development opportunities and workforce benefits, emit less carbon dioxide, and have higher profit margins and return on equity than their Russell 1000 peers.

☆ Shopify had a bumpy 2022, with a stock split, layoffs, and more. These are the biggest stories about the e-commerce company.
▼ + stars: | 2022-12-29 | by ( Madeline Stone | ) www.businessinsider.com time to read: +10 min

After seeing explosive sales and revenue growth during the earlier days of the Covid-19 pandemic, the Canadian e-commerce company saw its business come back down to earth this year. Shopify employees are granted restricted stock units, or RSUs, in addition to their base salaries. MayOn May 2, Shopify announced plans to acquire e-commerce fulfillment startup Deliverr for more than $2 billion. The acquisition was intended to help Shopify merchants offer one and two-day shipping to their customers. On December 15, Shopify announced that it was doubling down on its sustainability efforts by investing $11 million in carbon removal projects.

☆ Japan minister signs clean energy cooperation document during Saudi visit
▼ + stars: | 2022-12-25 | by ( ) www.reuters.com time to read: +1 min

Dec 25 (Reuters) - Saudi Arabia and Japan signed a memorandum of cooperation (MoC) on Sunday in the fields of the circular carbon economy, carbon recycling, clean hydrogen and fuel ammonia, the Saudi Energy Ministry said on Twitter. The MoC was signed by Saudi Energy Minister Prince Abdulaziz bin Salman and Japanese Industry Minister Yasutoshi Nishimura, who is visiting the kingdom, after a meeting in which they both stressed the importance of supporting the stability of global oil markets through encouraging dialogue and cooperation between producers and consumers, the Saudi state news agency (SPA) reported. The two ministers also highlighted the need to ensure safe supplies from all energy sources to global markets and noted that the kingdom is "the largest dependable source" of crude oil supplies to Japan and "a reliable partner in this aspect" as well, SPA said. Reporting by Nayera Abdallah Editing by Peter Graff and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Microsoft-backed startup Heirloom uses limestone to capture CO2 from the atmosphere
▼ + stars: | 2022-12-05 | by ( Diana Olick | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMicrosoft-backed startup Heirloom uses limestone to capture CO2 from the atmosphereCNBC's Diana Olick joins 'Power Lunch' to discuss various methods for carbon capture, the ability to capture carbon through the enhanced mineralization of limestone, and the climatic benefits of carbon reduction.

☆ Parking lots are becoming as important as cars in climate change efforts
▼ + stars: | 2022-12-03 | by ( Kaitlin Balasaygun | ) www.cnbc.com time to read: +3 min

The parking lots where EVs recharge are a growing focus of construction efforts linked to climate change and carbon reduction. A law approved in France last month requires that parking lots with 80 or more spaces be covered by solar panels within the next five years. For the biggest parking lots, those with more than 400 spaces, three years has been granted to have at least half of the parking lot's surface area covered by solar. Similar renewable energy design ideas are expected to gain more market share in the U.S. if not necessarily through a federal mandate. The cost to install solar has dropped by more than 60% over the past decade, according to the Solar Energy Industries Association.

☆ Qatar World Cup lays bare environmental cost of a desert tournament
▼ + stars: | 2022-12-02 | by ( Armelle De Oliveira | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Patrick-Smith-Circle-Byline-Template.Jpg | ) www.nbcnews.com time to read: +11 min

But as it hosts the soccer World Cup, controversy is also descending on the tiny Gulf kingdom. “The tournament has been labeled as the first ‘fully carbon neutral FIFA World Cup tournament,’ meaning its overall impact on the planet should be zero,” the letter said. People gather around the official countdown clock showing remaining time until the kick-off of the World Cup on Nov. 11. After winning the right to host the tournament, Qatar pledged to become the first carbon neutral World Cup host. “Events like the World Cup, like the football World Cup or like the Olympics bring joy and happiness to millions of people, sometimes even billions of people, right?” he said.

☆ A Microsoft Leader’s COP27 Takeaway: It’s Time for Companies to Get Things Done
▼ + stars: | 2022-12-01 | by ( Dieter Holger | ) www.wsj.com time to read: +9 min

Microsoft Corp. President Brad Smith says there are plenty of emerging opportunities for business leaders to take climate action. The executive who has helped spearhead the tech giant’s sustainability efforts says companies need to step up and do their part. I thought some of the European companies were present but not with senior leadership, not with as many senior leaders as a year ago. But I think if you look over the next 30 years, companies are going to locate manufacturing where there is green energy. It really does serve the world well and our individual companies well if we can standardize some aspects of this.

☆ Salesforce's new marketplace wants to make it easier for companies to integrate carbon credits into their climate-action strategies
▼ + stars: | 2022-12-01 | by ( Erica Sweeney | ) www.businessinsider.com time to read: +5 min

Salesforce has a new marketplace for carbon credits, also known as carbon offsets. Companies can use their carbon credits on projects designed to help alleviate the climate crisis. Carbon credits as product stock-keeping units require a set of unique attributes that weren't available in the out-of-the-box product. Buyers on Net Zero Marketplace must commit to buy carbon credits as part of a comprehensive climate-action strategy — not as a substitute for absolute reductions. Providers of carbon credits don't always have the traditional sales and marketing tool kits needed to successfully bring credits to the market.

☆ Analysis: China c.bank to offer limited, targeted growth support, no bazooka
▼ + stars: | 2022-12-01 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

Since 2020, when the world's second-largest economy was first jolted by the coronavirus, the PBOC has expanded its arsenal of structural policy tools, including relending and rediscount facilities and other low-cost loans. "The central bank is likely to expand the scope of structural policy tools and step up the use of such tools," said a person involved in policy discussions who spoke on condition of anonymity. Its outstanding loans made via structural tools amounted to nearly 5.6 trillion yuan ($781.64 billion) at the end of September, central bank data showed. A central bank adviser said last month that China should set a growth target no lower than 5% for next year. On Nov. 21, the central bank kept its benchmark lending rates unchanged for a third straight month.

☆ EU takes 'first step' to certify removing CO2 from atmosphere
▼ + stars: | 2022-11-30 | by ( Kate Abnett | Moushumi Basu | ) www.reuters.com time to read: +3 min

The European Commission proposal, if approved by EU countries and lawmakers, would lay the groundwork for a government-approved certificate for carbon removals. Removals include carbon held in soils and forests, or CO2 sucked out of the air by technologies and stored underground or in construction materials. The EU proposal said existing certification schemes will be able to win EU approval if they meet certain criteria, including by addressing the risk that the CO2 could be released back into the atmosphere and having transparent rules on how long the CO2 will be stored. The U.N. climate science panel has said scaling up CO2 removals is "unavoidable" if the world is to limit global warming to 1.5C. Wijnand Stoefs, carbon removals lead at campaign group Carbon Market Watch, said the EU proposal was a "necessary first step" but left many questions unanswered - including how certified removals will eventually be integrated into governments' climate targets.

☆ These riderless electric lawn mowers can run on their own for 10 hours
▼ + stars: | 2022-11-28 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Now a Colorado-based startup is experimenting with commercial-grade electric mowers that not only produce no carbon emissions, but can run on their own. Scythe Robotics' autonomous electric mower can run for 8 to 11 hours at a time, depending on the grass length. Now it is experimenting with Scythe mowers. Beyond electrification's effect on carbon reduction, Morrison claims that the self-driving aspect of the mowers also benefits the planet. If a person doesn't have to spend hours mowing lawns, they have more time to do other landscaping work.

☆ Startups trying to turn cities into carbon sinks to fight climate change have raised a record $2.2 billion this year, new report shows
▼ + stars: | 2022-11-22 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +6 min

Green construction startups have raised a record $2.2 billion in 2022, per VC firm A/O PropTech. The construction and operation of buildings account for 37% of global CO2 emissions from energy use, according to the UN. The adoption of bio-based materials, such as wood, and a circular approach to construction can help cities become carbon sinks, the report stated. A carbon sink is when something can store more carbon emissions than it produces. Most building materials are currently "down-cycled" and used for things like filling potholes, she added.

☆ Some Companies Band Together to Support Nascent Low-Carbon Products
▼ + stars: | 2022-11-21 | by ( Dieter Holger | ) www.wsj.com time to read: +5 min

Global companies are combining their purchasing power to help commercialize low-carbon technologies as part of their efforts to meet net-zero commitments. One of the biggest corporate spending plans announced at the United Nations climate conference, known as COP27, was the First Movers Coalition. Its 65 member companies promise to collectively purchase $12 billion of nascent low-carbon products and services by 2030 to help suppliers develop their offerings and scale up. Once commitments are made, companies and suppliers meet regularly to share progress and work together. “Microsoft did not join [the First Movers Coalition] in Glasgow last year.

☆ The big new Exxon Mobil climate change deal that got an assist from Joe Biden
▼ + stars: | 2022-11-19 | by ( Tim Mullaney | ) www.cnbc.com time to read: +7 min

The law may help oil companies like ExxonMobil build profitable businesses to replace some of the revenue and profit they'll lose as EVs proliferate. Maybe, if carbon capture and storage is indeed as big a deal as ExxonMobil's first-of-its-kind deal to extract, transport and store carbon from other companies' factories implies. Could it be that Big Oil's next big thing got a big assist from Joe Biden? An industrial facility on the Houston Ship Channel where Exxon Mobil is proposing a carbon capture and sequestration network. And big oil and gas companies are where the expertise is."

☆ Five countries, other than China, most dependent on the South China Sea
▼ + stars: | 2022-11-18 | by ( Sean M. Holt | ) www.cnbc.com time to read: +11 min

Territorially, there are seven claimants to the South China Sea: China, Brunei, Indonesia, Malaysia, the Philippines, Taiwan and Vietnam. Analysts name the top five countries, other than China, that are most dependent on the South China Sea. Aerial view of fishing boats setting sail to South China Sea for fishing on August 16, 2022 in Yangjiang, Guangdong Province of China. "Although they claim more than half of the South China Sea, China has pushed claimant states such as Vietnam out of traditional fishing waters and more into the South China Sea, causing excessive overfishing." South KoreaSouth Korea is "intentionally quiet about the South China Sea" as it wants to "maintain favor with China," Graham said, citing Seoul's primary focus on the North Korean issue.

☆ CEO of GM's BrightDrop all-electric delivery van unit is 'charged up' for growth
▼ + stars: | 2022-11-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCEO of GM's BrightDrop all-electric delivery van unit is 'charged up' for growthBrightDrop CEO Travis Katz tells CNBC's Frank Holland he is "charged up" about the GM EV subsidiary's first sales forecast, $1 billion in 2023, and customers like Walmart and FedEx moving quickly to meet carbon reduction goals.

☆ EU agrees law to remove CO2 with woodlands and other carbon sinks
▼ + stars: | 2022-11-11 | by ( ) www.reuters.com time to read: +2 min

The law sets a target of removing 310 million tonnes of CO2 equivalent by 2030 through the use of soil, trees, plants, biomass and timber. Binding targets are to be set for all 27 EU members, aimed at progressively increasing absorptions and reducing emissions so that the EU-wide objective is reached. Currently, EU countries have to ensure they compensate emissions from land use and forestry with at least an equivalent amount of carbon removal. Under the new law, from 2026 removals of CO2 need to exceed emissions. The bloc struck a deal last month on a law effectively banning the sale of new petrol and diesel cars from 2035 and on Tuesday agreed to a law that sets national targets to reduce carbon emissions.

☆ The US is creating a carbon-offset plan for corporations that would fund developing countries' moves to clean energy
▼ + stars: | 2022-11-09 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

The plan would create revenue to fund developing countries' moves toward clean energy. "This is a critical tool that will supplement, not replace, other sources of climate finance." The US will also consult with organizations that are trying to improve the scientific integrity of carbon credits. "Buying emissions reductions from developing countries is not the same thing as channeling climate finance and raises questions about who can count the reductions." African nations unveiled their own carbon-market initiative Tuesday, with an aim to supply 300 million carbon credits each year by 2030 and raise up to $6 billion.

☆ Guest view: Climate finance club hands over baton
▼ + stars: | 2022-11-08 | by ( Huw Van Steenis | ) www.reuters.com time to read: +7 min

A year after financial institutions joined forces to lower carbon emissions as part of the Glasgow Financial Alliance for Net Zero, the initiative faces criticism from all sides. But the initiative is starting to hit the limits of what financial institutions can achieve through voluntary cooperation. Chief executives of financial institutions worry that participating in GFANZ opens them up to accusations of anti-competitive behaviour and litigation risk. It’s for politicians to set the legislative framework and financial institutions to abide by it. This could double or treble by increasing development banks’ capital, by changing their capital frameworks and mandates, or through smarter public-private partnerships.

☆ China to implement policies to boost private investment
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Nov 7 (Reuters) - China's state planner on Monday issued a notice saying it would further improve the policy environment to encourage the development of private investment, the latest move to prop up the faltering economy facing multiple headwinds. China will increase policy support to stimulate the vitality of private investment, stabilise market expectations and increase job opportunities, as "private investment accounts for more than half of the total social investments," said the notice. Beijing also said it woud support the development of the platform economy with a focus on investment of key projects such as artificial intelligence, cloud computing and blockchain. Central-owned enterprises will be encouraged to step up the use of new products and technologies from private enterprises. Reporting by Liangping Gao and Ryan Woo; Editing by Tom Hogue and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

☆ This startup seals your leaky home so you waste less energy and reduce your bill
▼ + stars: | 2022-11-01 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Leaky homes and buildings are some of the greatest climate offenders, but a Dayton, Ohio-based start-up is making big gains in shoring up the problem. Aeroseal, which seals both air ducts and building envelopes, is now available across America and in 29 countries. Leaky airducts and walls are the single largest reason for wasted energy in homes. Reducing that wasted energy not only lowers consumers' bills, but also reduces emissions associated with energy production, which are a significant contributor to climate change. Aeroseal has so far raised about $30 million in venture capital from the likes of Breakthrough Energy, Energy Impact Partners, Building Ventures and 2150.

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values the business at $14 billion, as the U.S. industrial firm pivots to supplying to a booming automation market. Emerson's shares edged up 1% in a weak broader market as the company also beat fourth-quarter earnings and revenue. The Climate Technologies business, which will be structured as a joint venture, generated net sales of $5 billion in fiscal 2022. Emerson said it plans to use proceeds from the deal to invest in automation-related businesses and spend around $2 billion on share repurchases in 2023. Centerview Partners LLC and Goldman Sachs are financial advisers to Emerson, while Barclays is the lead financial adviser to Blackstone.

☆ Blackstone to buy majority stake in Emerson's climate tech unit in $14 bln deal
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +2 min

Oct 31 (Reuters) - Emerson Electric Co (EMR.N) will sell a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that values it at $14 billion, the latest revamp by the U.S. industrial firm as it focuses on the booming automation market. Emerson's shares rose about 3.8% before the bell as the company also beat fourth-quarter earnings and revenue. Emerson, which will retain about 45% stake in the climate tech unit, said Blackstone and co-investors Abu Dhabi Investment Authority and GIC, would contribute $4.4 billion in equity toward the deal, which would be supplemented by $5.5 billion of debt financing. read moreThe Climate Technologies business, which will be structured as a joint venture, generated net sales of $5 billion in fiscal 2022. The unit includes its Copeland compressor business and products and services across residential and commercial heating and cooling.

The status of Russian metal has been a key talking-point at the many seminars and parties this week in London. Should the LME suspend deliveries of Russian aluminium, copper and nickel or should it maintain its policy of not preempting official sanctions? German copper producer Aurubis (NAFG.DE) has joined U.S. aluminium producer Alcoa (AA.N) in publicly calling for an LME ban on Russian metal. There is a lot of metal supply at stake here. An LME ban on deliveries of Russian metal would clearly have significant ramifications for both LME and physical market pricing.

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