August 1, 2022
Climate Finance Media Round-Up — August 1, 2022
Fossil fuel divestment:
- U.S. News & World Report: What Is Divestment?
- CBS News: Largest Presbyterian church body divesting from fossil fuel companies, citing climate concerns
- The Nation: Dear Harvard, It’s Time to Reject Fossil Fuel Money
- Governing: Maine Takes on Fossil Fuel Divestment. How Will It Happen?
- The Boston Globe: American Federation of Teachers calls for fossil fuel divestment
- The Guardian: Wellcome Trust sells stakes in large oil and mining companies
- Yahoo! Finance: ‘Impossible to track’ climate action of Canada’s $2T pension industry
- National Observer: When it comes to Canadian pensions, there’s a new climate leader in town
- Toronto Star: Big pensions need to go beyond climate pledges, provide more transparency, report finds
- Common Dreams: Student Climate Campaigners Welcome ‘Momentous Victory’ at Cambridge
No such thing as safe fossil fuel project:
- Gizmodo: Biggest Gasoline Pipeline in the U.S. Reports Spill, a Year After Notorious Cyberattack
- PBS NewsHour: In Louisiana, orphan wells seen as an ‘accident waiting to happen’
- POLITICO: 29 oil companies produce 50% of U.S. emissions, report says
- Bloomberg: TC Energy Raises Gas Pipeline Cost 70% to Nearly $9 Billion
Federal (In)action: Biden Admin, SCOTUS, US Congress & Finance Regulators:
- The Washington Post: What’s in and what’s out of Manchin’s surprise climate deal
- Gizmodo: Did Joe Manchin Actually Do a Good Thing?
- The New York Times: Manchin, in Reversal, Agrees to Quick Action on Climate and Tax Plan
- The Nation: Republicans Shouldn’t Get a Pass on Climate
- The Verge: Joe Biden’s new plan: solar power for everyone, not just the rich
- NBC News: White House launches Heat.gov website as warmer temperatures hit U.S.
- Reuters: Barr gets Senate nod as Fed’s top Wall Street cop
- E&E News: Treasury Department to create climate research hub
- Inside Climate News: Biden Is Losing His Base on Climate Change, a New Pew Poll Finds. Six in 10 Democrats Don’t Feel He’s Doing Enough
- The New York Times: How the Government Is Failing Americans Uprooted by Natural Disaster
- The Washington Post: Climate emergencies in other countries have been ‘wholly symbolic,’ activists say
- Volts podcast: how Biden can address climate change through executive action
The Great Enablers:
- AP: Banks far from hitting Paris climate targets, groups warn
- The Big Issue: Is your bank funding fossil fuels? Here’s how to find out
- USA Today: Profits over planet? Experts eye companies at crucial moment for climate change fight
- The Washington Post: To Fight Climate Change, Change Your Bank
- The Intercept: Bank of America memo, revealed: “We hope” conditions for American workers will get worse
- National Observer: Banks, Big Oil and boards: Untangling the relationship between fossil fuels and finance
- FT: Chief sustainability officers prosper as ESG risks mount
- Bloomberg: Fund Managers Face ‘Rapidly Closing’ Window to Fix CO2 Math
- Advisor’s Edge: Pensions need to up their climate-risk management game
- WSJ: More Investors Vote Against Corporate Directors Over Climate Change
- Responsible Investor: Engagement associated with fall in emissions intensity but not absolute emissions
Russia’s fossil funded war in Ukraine:
- Financial Times: Ukraine accuses US and European banks over Russia links
- Reuters: EU, Azerbaijan plan gas deal in pivot away from Russia
- CNBC: Yellen says price cap on Russian oil is ‘one of our most powerful tools’ to address inflation
- POLITICO: Canada will return key Nord Stream pipeline component
- OilPrice: Energy Security Trumps Climate As EU Agrees To Pipeline Expansion
Global climate talks & COP27:
- The Guardian: Cop27 summit must focus on how world will adapt to climate change, says UN envoy
- Grist: First climate agreement to center Indigenous voices gains international support
- Bloomberg: Egypt to Fight Against Backslide of Climate Goals at COP27
- The New Yorker: If Egypt Won’t Free Alaa Abd El-Fattah, It Had Better Brace for an Angry Climate Conference
- The Guardian: UN urged to move Cop27 from Egypt over ‘LGBTQ+ torture’
- Bloomberg: Tension Between Rich and Poorer Nations Eases at Berlin Climate Summit
Creative action:
- Axios: Six House staffers arrested while protesting in Chuck Schumer’s office
- The New York Times: Wake Up, Billionaires: The Occupiers Are Coming for the Hamptons
- Bloomberg: This Map Will Make You Optimistic About Fighting Climate Change
- Nanaimo Bulletin: Protesters in Nanaimo set up ‘oil derrick’ outside bank to decry fossil fuel investment
Woke capitalism, Greenwashing & Opposition:
- Reuters: West Virginia bars five financial firms for deemed fossil fuel ‘boycotts’
- HuffPost: The Gas Industry Is Pumping Money Into A Tiny Local Race To Crush A Climate Champion
- Yahoo! News: Sen. Steve Daines introduces bill to block Biden from adding ‘woke’ requirements to US retirement plans
- FTAdviser: ESG litigation is gaining momentum
- Financial Times: Shell takes to TikTok as oil groups try to boost credentials during energy crisis
- Responsible Investor: The kind of loophole that’s big enough to drive a truck through: legal view of anti-ESG legislation in the US
- Bloomberg: Corporate Backlash Over SEC Climate Plan Takes Shape
- CNBC: Sen. Tom Cotton targets ESG investing: BlackRock is a ‘climate cartel’
- Sludge: Chevron-Funded Super PAC Boosted Oil-Friendly Dem in California Congressional Primary
- WSJ: West Virginia vs. Political Banks
- The Narwhal: How a conservative U.S. network undermined Indigenous energy rights in Canada
- FT: Energy crisis prompts ESG rethink on oil and gas
- WSJ: Op-ed: Biden’s ESG Tax on Your Retirement Fund
- E&E News: Trump officials hold summit to plan Republican takeover
- Floodlight: Leaked: US power companies secretly spending millions to protect profits and fight clean energy
- Orlando Sentinel: DeSantis urges Florida not to invest pension funds in ‘woke’ companies
Global finance:
- Reuters: Big Oil set to open cash taps with another record quarter
- Bloomberg: Worst of Global Energy Crisis May Still Be Ahead, IEA Says
- Bloomberg: ECB’s First Climate Test Sees Up to $71 Billion Hit to Banks
- Reuters: Back to black? Germany’s coal power plan hits hurdles
Climate (in)justice & solutions:
- Bloomberg: Will Los Angeles Join a Ban on New Gas Stations?
- Reuters: Two-thirds of new renewable power cheaper than coal last year
- E&E News: Washington set to be 2nd East Coast city with gas ban
- Nature: How climate change could drive an increase in gender-based violence
- High Country News: In Alaska, coal is dwindling as green energy is on the rise
- The Boston Globe: State Legislature advances new climate bill after months of negotiations
- Energy News Network: In Maine, heat pumps are proving themselves even against extreme cold
- The Atlantic: A Plan to Lower Gas Prices—And (Maybe) Help the Climate
Accountability:
- AP: Climate disinformation leaves lasting mark as world heats
- ExxonKnews: Attorney who fought Big Tobacco says Big Oil should be next
- Atmos: How Reproductive Justice Is Climate Justice
- The Tyee: Vancouver’s Big Oil Lawsuit, Explained
- The New Republic: A Tiny Pennsylvania Town of 700 People Declared War on the Fracking Industry in 2014. They’re Finally Getting Their Day in Court.
Op-eds:
- MarketWatch: Sell Exxon Mobil and other energy stocks before these headwinds hit prices once again
- The Guardian: Looking for someone to blame for the extreme heat? Try Wall Street
- The Guardian: We’re occupying schools across the world to protest climate inaction
- Common Dreams: New Mexico’s Megafires Mark a Turning Point for the People, the Land, and the Forest Service
- Sydney Morning Herald: The case for a global fossil fuel non-proliferation treaty – from an island nation in peril
- FTAdviser: ESG litigation is gaining momentum
- ImpactAlpha: Why did shareholder resolutions on climate action and racial equity fall short? Big asset managers.
- Louisiana Illuminator: As peak hurricane season looms, banks bolster cozy relationship with fossil fuel industry
- The Hill: Supreme Court’s EPA Ruling does not doom the SEC’s climate disclosure rule
- Yintah Access: Gidimt’en Civil Suit
- Pensions & Investments: Committing to net-zero is like committing to run a sub-2-hour marathon
- The Guardian: Climate action is fighting back against big polluters. We don’t need to end Australia’s climate wars – we need to win them
- The Guardian: It is us we are waiting for! Africa needs to shape its own conservation and climate agenda
- Utility Dive: Lack of investment and innovation adds to worries of grid failure and outages
- The Princetonian: The fossil fuel faculty report is just another stalling tactic. We need divestment now.
- The Hill: ‘Fossil-flation’ fuels the climate crisis and costs Americans money: Electrification is the answer
- Dominion Post: Boycott will hurt us more than banks
Climate impacts:
- AP: Climate migration growing but not fully recognized by world
- HEATED: Why the Kylie Jenner private jet story matters
- NBC News: Heat wave scorches Pacific Northwest, echoing brutal 2021 stretch
- HuffPost: Unprecedented Heat And Stressed Grids Make Dangerous Power Outages Increasingly Likely
- WSJ: Paradise, the Wildfire-Ravaged California Town, Warns of Municipal Bond Default
- The Washington Post: Historic flooding in St. Louis kills at least 1, strands others
- Salon: How the worst heat wave in US history prophesies our climate change–ravaged future
- AP: New Hurricane Frank gains force over eastern Pacific
- Yale Climate Connections: Three-quarters of Montana farmers, ranchers anxious about climate change, survey finds
- USA Today: ‘Not much relief in sight’: Temperatures from powerful ‘heat dome’ lead to record-breaking highs
- The Washington Post: Dartmouth study links past U.S. greenhouse gas emissions to global economic damages
- The Weather Channel: Kentucky Flooding: Search And Rescue Efforts Continue As The Death Toll Rises
- Bloomberg: Europe Is Frying in Devastating Heat, Yet Is Burning More Coal
- Reuters: California’s Oak Fire spreads uncontained toward Yosemite
- POLITICO: Why flash floods are getting fiercer