December 16, 2022
Climate Finance Media Round-Up — December 16, 2022
Fossil fuel divestment:
- BestColleges: Why Do Universities Divest From Fossil Fuels?
- BestColleges: These Colleges Have Divested From Fossil Fuels
- The Guardian: Fossil fuel recruiters banned from three more UK universities
- The Nation: Students Tell Their Universities: Keep Fossil Fuel Companies Out of Climate Research
- OPB: Oregon’s treasurer wants $90B pension fund to drop fossil fuels
- P&I: Finnish pension fund manager Varma to blacklist funders of fossil fuel companies
- NPR: As Harvard’s endowment abandons fossil fuels, oil-rich University of Texas catches up
- P&I: Nordic, U.K. pension funds join call for climate finance in emerging markets
- Chief Investment Officer: Canadian Pension Giant Aims to Close Net-Zero Reality Gap
- Westword: As CU Hosts Global Climate Summit, Students Renew Call for Fossil Fuel Divestment
- The Actuary: how pension funds demonstrate action on climate risk
- Dailyuw: UW’s fossil fuel divestment: What does it mean?
- WKAR: Sunrise MSU activists escorted from Breslin Center following fossil fuel divestment protest
- Yahoo! Finance: How Much Has Harvard’s Fossil Fuel Divestment Cost It?
- Insurance Journal: Climate Change Could Cost Pension Funds Billions of Euros
US Midterm reflections
- Gizmodo: What the Midterms Told Us About the Future of Climate Action
- E&E News: What the midterm results mean for ESG investing
- National Observer: A ‘green wave’ in America
- Vox: The midterm results on climate change in state races
- Times Union: New York voters overwhelmingly pass Environmental Bond Act
- The New York Times: Karen Bass Becomes First Woman Elected as Los Angeles Mayor
- Roll Call: Republicans ride ESG backlash to state financial offices
COP27 reflections
- Gizmodo: COP27 Was a Historic Compromise, and Not Nearly Enough
- Ricochet: Why is Canada inviting fossil fuel lobbyists to COP27?
- Bloomberg: COP27: EU, UK Join India’s Push for Tough Pledge on Fossil Fuels
- AP: People with disabilities raise voices at climate talks
- Context: Climate action is ‘good business’, UN climate chief says at COP27
- The Conversation: why a new insurance scheme for climate-vulnerable countries is a bad idea
The Great Enablers:
- FT: HSBC to stop new oil and gas project funding after backlash
- CTV News: Royal Bank of Canada signs deal to buy HSBC Canada for $13.5B
- Yahoo! Finance: HSBC cuts Canadian unit out of climate pledge ahead of RBC deal
- Jacobin: Private Equity Is Playing Games With Workers’ Pensions
- The Lever: Wall Street Readies An Avalanche Of Lies
- The New York Times: The Bottom Line on Banks
- Reuters: Morgan Stanley IM launches $1 bln climate-focused private equity strategy
- Bloomberg: Barclays Plans £500 Million Investment in Green Startups by 2027
Global Finance:
- FT: Get ready for a net zero business backlash
- The Guardian: Climate-focused reform of World Bank could be done in a year
- Reuters: ECB’s Panetta says green transition may help cut inflation
- Green Central Banking: ECB begins applying capital charges to climate laggards
- Bloomberg: Netherlands Says ESG-Linked Debt Is Longer-Term Possibility
- Financial Post: McKenna-led UN group calls for regulation, end to greenwashing in net-zero pledges
- FT: An actual ESG success story?
- Bloomberg: Why Is Wall Street So Hot for Biodiversity Right Now?
Woke Capitalism, Anti-ESG & opposition:
- The Globe and Mail: Responsible investing still a big opportunity in Canada despite growing scrutiny of ESG
- S&P: Even as ESG market narrows, money managers in the space prioritize climate
- The Daily Caller: Witness Testifies Bank Threatened To Withhold Loan If He Didn’t Tweet ‘Climate Change’ Talking Points
- LA Times: The GOP’s war on green investing is bad for the climate — and investors
- The New Yorker: The C.E.O. of Anti-Woke, Inc.
- The New York Times: The Texas Public Policy Foundation’s National Crusade Against Climate Action
- Reuters: Florida pulls $2 bln from BlackRock in largest anti-ESG divestment
- NY Magazine: Why the GOP Will Lose Its War on ‘Woke Wall Street’
- Fox News: Biden wants your retirement savings to go woke. Here are 3 ways to protect yourself
- POLITICO: New anti-ESG group aims to amplify attacks on ‘woke’ investing
- Florida Politics: In Andrew Warren suspension trial, Gov. DeSantis officials answer: What does ‘woke’ mean?
- Reuters: Texas may offer exit path for sanctioned financial firms
- P&I: CalPERS CEO pushes back against politicization of ESG investing
- WSJ: This Former BlackRock Executive Says ESG Investment Model Is Broken
- Vox: The weird Republican turn against corporate social responsibility
- POLITICO: Republicans plan surge of attacks on ‘woke’ investing after the midterms
No such thing as safe fossil fuel project:
- AP: Kansas oil spill biggest in Keystone history
- The East African: Why Britam backed out of Uganda, Tanzania oil pipeline insurance deal
- National Observer: Canadian banks, insurers pour nearly $2 billion into new fossil fuel projects in Africa
- Express News: Equipment designed to cut methane emission is failing, raising questions about plans to stop it
- E&E News: Coal emissions on pace for record-setting 2022
- Gothamist: Lawmakers, advocates press Gov. Hochul for fossil fuel ban in new construction
- WBUR: Residents rail against proposed gas pipeline in Springfield at state energy siting board meeting
Biden admin, Congress & US agencies:
- E&E News: Takeaways from the Democrats’ Big Oil investigation
- Axios: GOP plans climate probes the left might like
- The Hill: Senate to vote on Manchin’s permitting amendment to defense spending bill
- The Washington Post: Odd bedfellows fight Manchin’s permitting deal
- WSJ: Labor Department Clears Path for 401(k) Plans to Offer ESG Funds
- Gizmodo: What the Midterms Told Us About the Future of Climate Action
Litigation & accountability
- Reuters: Puerto Rican towns sue Big Oil under RICO alleging collusion on climate denial
- POLITICO: House to try to override veto of EPA spending bill
- Inside Climate News: Lawyers Press International Court to Investigate a ‘Network’ Committing Crimes Against Humanity in Brazil’s Amazon
- The Energy Mix: Competition Bureau to Probe Industry Greenwashing of ‘Clean’, ‘Natural’ Gas
- The Washington Post: Semafor hired a climate writer. Then Chevron ran ads on his stories.
Climate (in)justice:
- Atmos: 10 Environmental Justice Wins in 2022 to Celebrate
- Bloomberg: A New Era of Climate Disasters Revives Calls for Climate Reparations
- Bloomberg: Climate-Driven Disasters Fuel Calls For Wealthy Nations to Pay
- Canary Media: Low-income families don’t get a fair share of energy-efficiency funds
- Atmos: On Vancouver Island, Land Back Looks Like Going Home
- Atmos: Does Antisemitism Exist in the Climate Movement?
- The Guardian: Could Barbados blueprint be a Marshall Plan for the climate crisis?
- The Guardian: Iran ousted from UN body tasked with empowering women
- Lacrosse Tribune: Wisconsin utility regulators bless solar financing tool
Russia’s fossil fueled war:
- Atmos: Fossil Fuels Aren’t the Answer to European Energy Crisis—Peace Is
- Reuters: G7 coalition agrees $60 per barrel price cap for Russian oil
- Bloomberg: Ukraine Wants Russia to Pay for Climate Damage Wreaked by War
- The Guardian: Russian oligarchs and companies under sanctions are among lobbyists at Cop27
- POLITICO: Ukraine tells allies it may not be able to recover from more Russian attacks on energy systems
Creative action:
- Time: Egyptian Activist Alaa Abd El-Fattah’s Sister on the Aftermath of His COP27 Water Strike
- The Guardian: Tobacco companies can’t sponsor Australian arts. Should fossil fuel giants be banned too?
- DeSmog: How the Fossil Fuel Industry Buys Goodwill
- The Crucial Years: 32123!
- Gizmodo: In Memory of @BPDeezNutzz, the Best Greentrolling Account to Ever Grace Twitter
- Variety: Rainn Wilson Changes Name to Rainnfall Heat Wave Extreme Winter Wilson
- Reuters: At COP27, protesters within U.N. venue demand climate finance
- ABC News: Video Inside the radical climate protest movement
Op-eds:
- WSJ: ESG Investing Is Consistent With Fiduciary Duty
- Inside Higher Ed: The global significance of fossil fuel divestment
- The Guardian Editorial Board: this is no time for apathy or complacency
- The Forge: Building Resilient Organizations
- Context: Climate finance will only work if we gift power to the people, not governments
- Stanford Daily: We remember our pledge: No donations without divestment and dissociation
- P&I: Getting real in the journey to net-zero
- dailynebraskan: DivestNU fights for UNL to divest from fossil fuels
- NY Daily News: N.Y.’s unfinished business on climate justice
- The Varsity: Supporting RBC On Campus is supporting the climate crisis
- Context: UN climate negotiations need to talk about climate migration
- National Observer: The Order of Ontario rewards a climate villain
- Bloomberg Law: Why Big Oil Is Desperate to Avoid Climate Cases in State Courts
- Toronto Star: Oil executive should not be on board of teachers’ pension fund
- The Washington Post: How not to talk with Africa about climate change
- Toronto Star: We are rising in strength and power — it’s time to end the genocide of Indigenous women
- Context: The colonial exploitation of Africa’s fossil fuels must stop
- The New York Times: Big Oil Companies Are Bullies Who ‘Want to Be Seen as Good Guys’
- JHU Newsletter: Hopkins, put your money where your mouth is and divest.
- Canary Media: Is a green wave of climate finance finally gaining momentum?
- The New York Times: Paying for Climate Damage Isn’t Charity
- CNN: Where I come from, being a climate ‘activist’ isn’t a choice
- Baltimore Sun: Climate change lawsuits seek to hold corporations accountable
- Sierra Club: Right-Wing Attack on Sustainable Finance Is the Latest Form of Climate Denial
Climate impacts:
- The New York Times: At Least 141 Die in Congo After Floods Hit Kinshasa
- Reuters: Counting the rising cost of climate disasters
- AFP: Climate change fuelled rains behind deadly Nigeria floods: study
- The Guardian: Over 20,000 died in western Europe’s summer heatwaves
- InsuranceNewsNet: Mississippi River low water levels cause $20B damage and economic loss
- AP: 90% of US counties hit with disaster in last decade
- Yale CCC: Five countries have cost the world $6 trillion in global warming losses
- Inside Climate News: Who Were the Worst Climate Polluters in the US in 2021?
- E&E News: 4 questions answered: Hurricanes and the grid
- Time: What Climate Change Is Already Doing to Children’s Brains
- Yale CCC: More than half of infectious diseases may be aggravated by climate change
- NPR: Investments of 125 billionaires have the same carbon footprint as France, study finds
- Reuters: Over 62,000 without power in Florida from storm Nicole
- E&E News: Why famine-hit Somalia didn’t get climate aid: It has no coal