A battle is brewing between the UN and Australia over the future of the Great Barrier Reef after a UN committee reported there is “no possible doubt” that the natural wonder is “facing ascertained danger” from climate change. The committee proposed adding the reef to UNESCO’s List of World Heritage Sites in Danger, potentially creating a monitoring role for UNESCO to take corrective measures to reduce emissions, which it said would harm the reef and its marine life. Australia promised to fight any change of status that could hurt its travel industry or see the UN try to reduce the country’s greenhouse gas emissions.
. . . . JPMorgan’s purchase of one of the largest forest investors Tuesday is a bullish signal for the growth of carbon offset markets, even though it means the banking giant will attract more polluters as customers for its offsets. Read more here. . . .
. . . . As investment in offshore wind projects surges, so does the race to develop floating wind turbines, which are the holy grail of an industry that sees most of its opportunity in deep water. Costs are nearing an inflection point. Read more here. . . .
. . . . Retail distribution hubs in big cities such as New York and Seattle, are changing the way food and goods are delivered, while cutting truck pollution and altering traffic patterns. The case for more bikes. Read more here. . . .
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Editor’s picks: Climate change on social media, BP invests in EV charging startup
#NetZero commitments now cover: ✔️ 68% of global economy ✔️ 56% of global population ✔️ 61% of #GHGs. Our job now is to mobilize this commitment and turn it into action. ➡️ READ: @WorldBank MD @Mari_Pangestu on new Carbon Pricing Leadership Report. [wrld.bg/CEDX50Ffu02
June 22nd 2021
Younger adults interact more on social media about climate change
Gen Z and Millennial social media users are more likely than older generations online to engage with climate change content on social media and to express a range of emotions when they see climate-related content there, including anxiety about the future and anger that not enough is being done, according to a new Pew Research Center survey. Cary Lynn Thigpen and Alec Tyson report that generations also differ when it comes to positive emotional reactions: 54% of Gen Z and 53% of Millennial social media users say they felt motivated to learn more about climate change issues the last time they saw climate content on social platforms, compared with 43% of Gen X and 39% of Baby Boomer and older users. And when it comes to the approach of the Biden administration on climate issues, a majority of the social media climate-engaged (58%) think the administration will not go far enough to reduce the effects of climate change; far fewer among social media users who do not engage with climate content express this view (36%).
BP invests in EV charging company IoTecha
BP Ventures, the energy company’s (BP) venture division, is investing $7 million in startup EV charging company IoTecha, based in Cranbury, N.J. The companies said they will work to improve mainstream adoption of electric vehicles and support sustainable mobility, ESG Today reports. IoTecha’s technology connects EV chargers with the electricity grid using the Internet of Things, with the company’s platform, IoT.ON, enabling private and fleet vehicles from any manufacturer to communicate seamlessly with charging stations to signal when they need recharging, while gathering information about the patterns and the energy requirements of each user across all forms of EV charging. IoTecha will use the investment to scale its operations through BP’s electrification network.
Engine No. 1 launches Transform 500 ETF
Engine No. 1 today announced the upcoming launch of its inaugural ETF, Engine No. 1 Transform 500 ETF, (VOTE) with an initial commitment of $100 million. Engine No. 1 also said Betterment, the largest independent digital investment adviser, will be integrating VOTE into all of its socially responsible investing (“SRI”) strategies. VOTE will invest in a market-cap weighted index of the 500 largest U.S. stocks and will seek to track the Morningstar U.S. Large Cap Select Index. Rather than excluding or re-weighting stocks, VOTE will seek to improve companies’ environmental and social impacts through its voting actions, campaigns and new investors it brings in. The Fund’s annual expense ratio will be 0.05%.
This week in wildfires
. . . . As of June 22, the Fire Information for Resource Management System reported six new large incidents in the U.S. and Canada, six large fires contained, and 36 large fires uncontained. In the southwest, 22 new fires were reported, including three large incidents. Activity is picking up in the Southern California Area, where 38 new fires were reported and there were five uncontained large fires. Across the nation, the National Interagency Coordination Center reports as of Wednesday morning, more than 608,835 acres had burned. . . .
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