The Biden Administration has raised the “social cost of carbon” used in decision-making by federal agencies to $51/ton—seven times the level during the previous administration. This could be increased later to as much as $128/ton. The use of a higher value for the social cost of carbon could result in FERC and other federal agencies rejecting requests to approve new projects that otherwise would have passed muster, and result in far more extensive carbon mitigation requirements being imposed even when projects are approved.
JPMorgan Chase Aims $2.5 Trillion Toward Sustainability Development
JPMorgan Chase announced on April 15 plans to finance and facilitate more than $2.5 trillion over the next 10 years to address climate change and sustainable development. According to a company statement, “These plans complement the company’s Paris-aligned financing...
How an Energy Consultant Cuts Your Business Spend
Whether or not your business’ geographic reach spans regulated and deregulated markets, an experienced energy consultant adds expertise to your operation by focusing on your energy markets full time. A skilled energy consultant is well-versed on the history as well as...
TEPA Reaffirms Support, Underscores Advantages of Competitive Energy Markets
HOUSTON – April 13, 2021 - The Energy Professionals Association (TEPA), a national organization of energy professionals, reaffirmed its support of competitive energy markets and highlighted the advantages they offer residential and commercial customers... Click here...
Larry Fink’s 2021 letter to CEOs
Dear CEO, BlackRock is a fiduciary to our clients, helping them invest for long-term goals. Most of the money we manage is for retirement – for individuals and pension beneficiaries like teachers, firefighters, doctors, businesspeople, and many others. It is their...
A Furious Industry Backlash Greets Moves by California Cities to Ban Natural Gas in New Construction
On a summer evening in 2019, city leaders in Berkeley, California, adopted a climate policy that inspired dozens of imitators and an even bigger backlash. The famously progressive city was the first in the United States to pass an ordinance that banned natural gas...
Citi’s new CEO commits the bank to net zero by 2050
Citigroup’s new CEO, Jane Fraser, announced on her first day as CEO on March 1 that the investment bank will be net zero in carbon emissions by 2050. Part of this commitment includes a goal to publish Citi’s initial Net Zero by 2050 plan within the next year, which...
“The Biden Administration has raised the “social cost of carbon” used in decision-making by federal agencies to $51/ton—seven times the level during the previous administration. This could be increased later to as much as $128/ton. The use of a higher value for the social cost of carbon could result in FERC and other federal agencies rejecting requests to approve new projects that otherwise would have passed muster, and result in far more extensive carbon mitigation requirements being imposed even when projects are approved.”
Biden hikes cost of carbon, easing path for new climate rules
President Joe Biden on Friday restored an Obama-era calculation on the economic cost of greenhouse gases, a step that will make it easier for his agencies to approve aggressive actions to confront climate change. But the administration stopped short, for now, of...
The Terrifying Warning Lurking in the Earth’s Ancient Rock Record
We live on a wild planet, a wobbly, erupting, ocean-sloshed orb that careens around a giant thermonuclear explosion in the void. Big rocks whiz by overhead, and here on the Earth’s surface, whole continents crash together, rip apart, and occasionally turn inside out,...
EIA projects swift electricity demand recovery after COVID-19, strong renewables growth
Dive Brief: U.S. electricity use, which took an unexpected dive in 2020 after COVID-19 began, may return to 2019 levels as early as 2022, according to the latest Annual Energy Outlook from the U.S. Energy Information Administration.... Click here to view full...
Bank Clients in Sweden Face New Climate Hurdle to Get Credit
growing number of Swedish banks will start turning clients away if their businesses aren’t clean enough to justify new loans. Swedbank AB, Sweden’s biggest mortgage bank, just became the latest in the country to limit lending... Click here to view full article.
General Motors plans for carbon neutrality by 2040
GM announced on Jan. 28 that it plans to become carbon neutral in its global products and operations by 2040, eliminating tailpipe emissions from new light-duty vehicles by 2035. To reach its goals, GM has committed to science-based targets, signed the Business...
British Hedge Fund Billionaire Takes Climate Fight to S&P 500
A billionaire hedge-fund manager is bankrolling an unprecedented campaign to force dozens of the world’s largest companies to publish carbon-emission reduction plans and put them up for shareholder vote... Click here to view the full article.
GM to Phase Out Gas- and Diesel-Powered Vehicles by 2035
The nation’s largest auto maker by sales called the 2035 date to eliminate all tailpipe pollution an aspiration. Even so, many governments around the world, from California to Japan and the U.K., have pledged to ban gas- and diesel-powered cars by then... Click here...
BlackRock’s Fink warns companies they need to show a net-zero plan
LONDON/BOSTON (Reuters) - Larry Fink, chief executive of the world’s biggest asset manager BlackRock, warned the companies it invests in on Tuesday they will need to show a game plan for surviving in a world aiming for net-zero carbon emissions by mid-century... Click...
Tyson Foods partners to convert methane into renewable natural gas
Tyson Foods announced on Jan. 7 that it partnered with natural gas service provider NW Natural to convert methane from its facilities into renewable natural gas (RNG) to heat homes and businesses in Oregon and Southwest Washington. RNG is produced from organic...
Climate Action Is Embedding Into How the World Works
Like the start of every year in recent history, the planet is getting warmer, climate disasters continue to strike, and emissions aren’t falling fast enough. Unlike other years, however, some positive developments in recent months set us up for a...
The Walt Disney Company establishes 2030 energy and environmental targets
The Walt Disney Company announced Dec. 18 that it is committed to achieving net zero emissions and purchasing or producing 100% clean electricity for its direct operations by 2030. The media company released a list of its environmental goals for 2030, focusing on five...
Lloyd’s market to quit fossil fuel insurance by 2030
Lloyd’s, the world’s biggest insurance market, has bowed to pressure from environmental campaigners and set a market-wide policy to stop new insurance cover for coal, oil sands and Arctic energy projects by January 2022, and to pull out of the business altogether by...
Companies Plan to Link ESG Goals to Executive Pay
Companies are increasingly establishing executive positions to cultivate ESG strategies but recent data suggests they won’t stop there. Many of these firms will also be taking steps to tie or link executive pay with attaining ESG goals, according to a new survey from...
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