The executives of more than 300 corporations have written to President Joe Biden, pushing the administration to nearly double the country’s Paris Agreement goal for cutting carbon dioxide, methane and other emissions, to at least 50 percent below 2005 levels by 2030. With the letter, the business — including Google, McDonald’s Corp. and Walmart Inc. — have roughly aligned themselves with the goals of most major environmental groups, and the target is also in the range of what Biden is considering announcing during his virtual summit next week, according to two administration officials familiar with the deliberations. (The New York Times)
Texas Gov. Greg Abbott (R) has named Peter Lake, current chair of the Texas Water Development Board, as the new chair of the Texas Public Utility Commission, pending state Senate confirmation. All three of the PUC’s members resigned in recent months after a deadly storm caused a statewide energy crisis in February. (The Texas Tribune)
New York state’s pension fund — among the largest in the country, valued at about $248 billion — will divest more than $7 million in securities from six Canadian oil sands companies and will not make any further investments in them. Comptroller Thomas DiNapoli said the companies have not shown they are prepared for the energy transition, a decision that comes mere months after the fund set a 2040 target for pivoting its investments to achieve net-zero greenhouse gas emissions. (Reuters)
European politicians, companies and trade unions on Tuesday called on the United States to slash its greenhouse gas emissions by at least 50% this decade, adding to mounting pressure on the Biden administration ahead of a climate summit next week.
The Securities and Exchange Commission is poised for a fight with Republicans and business interests as it looks to develop uniform rules for how public companies report environmental, social, and governance matters to investors.
An official who President Biden originally wanted to nominate to be the second-in-command at the Interior Department has found a new political position in the agency after reported opposition from swing-vote senators.
Congressional Republicans are set to unveil environmental legislation in the coming weeks that eschews the Biden administration’s focus on energy and carbon emissions in favor of reducing U.S. dependence on so-called critical minerals and an initiative to plant 1 trillion trees worldwide.
Orphaned wells are poised to overwhelm the US. Millions of oil and gas wells have been abandoned by drilling companies around the country. More are expected as bankruptcy or dwindling oil supplies leave companies unable to pay for their clean up.
Canada’s TC Energy on Monday requested information from around 100 renewable development companies to identify wind energy investment opportunities that would generate 620 megawatts of electricity for its U.S. pipeline business.
A package of far-reaching reforms to expand the nation’s high-voltage electric transmission system is coming into focus as congressional Democrats begin drafting legislation in line with U.S. President Joe Biden’s $2 trillion infrastructure vision.
California legislators Monday approved more than $500 million for wildfire resiliency projects to try to avoid a repeat of more than 4.2 million acres burned in the 2020 season, the most destructive in state history.
U.S. partners South Korea and Taiwan joined China in opposing Japan’s plan to release radioactive water from the wrecked Fukushima Dai-Ichi nuclear power plant into the Pacific Ocean starting in about two years.
Japan plans to release into the sea more than 1 million tonnes of contaminated water from the destroyed Fukushima nuclear station, the government said on Tuesday, a decision that is likely to anger neighbours such as South Korea.
Energy transition is a widely used term but means different things to different people. Energy markets have always been in transition, shifting to cheaper or cleaner fuels as they become available and competitive. Invariably these transitions are journeys, taking time for new entrants to displace incumbents.
Margaret E. Peloso et al., Harvard Law School Forum on Corporate Governance
The Fourth National Climate Assessment, issued by the U.S. Global Change Research Program, found that climate change is already having an impact on businesses and communities across the United States. The report also found that, without significant global mitigation and adaptation efforts, climate change will inflict increasing disruption and damage. International reports have made similar findings. As a result of these existing and anticipated disruptions, climate change has become a major business concern for many company executives and investors.