Climate Change

By Ross Kerber Dec. 10 - Financial leaders and corporate leaders will soon learn if U.S. president Donald Trump is going to continue his Republican crusade aimed at giant index funds. Washington trade groups expected last month that the White House would issue an executive directive to reshape corporate governance by imposing new limitations on proxy advisers, and big passive index funds. Republicans claim that the "Big Three", passive firms, including?BlackRock?,?Vanguard? and State Street? "use shareholder voting to advance a political agenda" according to the 2022 staff report of the Senate Banking Committee?s Republican staff. Since 2022, the votes of...

Head of Nature of the world's largest climate philanthropy, gave $24.5 million for coastal ecosystem protection as part of a plan that aims to create a cross-border marine Biosphere Reserve. The Bezos Earth Fund has awarded four grants to local communities in Costa Rica and Panama. Colombia and Ecuador will also receive a grant. The grants are part of a $1 billion plan to protect 30% of the land and oceans of the planet by 2030. The group of donors aims to contribute $5 billion in the same time period as part of the "Protecting Our Planet Challenge" with 10...

Constellium's CEO said that the European Union should abandon a carbon border tax, which could push its aluminium industry into a long-term decline. The tax would increase costs and favor more polluting foreign suppliers. Carbon Border Adjustment, a mechanism that will begin imposing a tax on imports for a few commodities in January, was designed to protect European producers from cheaper competitors in countries with laxer climate laws. Industry representatives, however, see the system as flawed and are hopeful that the final EU adjustments to the Mechanism, which will be announced this month, address their concerns. Jean-Marc Germain is the...

Six former Environmental Protection Agency workers filed a First Amendment lawsuit against EPA administrator Lee Zeldin on Wednesday for terminating their employment due to what they called the politicization science under the Trump Administration. Employees were terminated earlier this year, after signing an open letter addressed to Zeldin in which they criticized the agency and accused it of putting public health at risk by allowing politics to dictate research. Why is this important? Public Employees for Environmental Responsibility (PEER), which represents the fired employees said that President Donald Trump's EPA has violated First Amendment free speech protections, and also put...

Brad Lander, New York City Comptroller, is urging pension fund officials in the city to rebid $42.3 billion to BlackRock due to climate concerns. This is the first major step taken by a Democrat against pressure from Republican allies who support the fossil fuel industry. Lander's tenure in office ends Dec. 31. But his recommendation announced on Wednesday could put Mayor elect Zohran Mamdani under pressure when he assumes office in five weeks. BlackRock has indicated that it will try to retain the business. Mamdani’s appointees are in key positions and will have some influence over the pension boards, which...

Brad Lander, New York City Comptroller, is urging officials of the city pension funds to rebid the $42.3 billion managed BlackRock due to climate concerns. This is the first major step taken by a Democrat in order to counter the pressure from Republican allies who support the fossil fuel industry on financial firms. Lander's tenure ends on December 31. His recommendation, which will be announced on Wednesday, puts Mayor-elect Zohran Mdani on the spot when he assumes office in five weeks. Mamdani’s appointees are in key positions and will have some influence over the pension boards, which decide where to...

The Trump administration asked a federal judge to overturn the 2024 limits on soot for factories and power plants. It also delayed by three-years a deadline set for coal plants to remove coal waste. Critics have called these moves a clear retreat from public health protections. Soot is linked to cardiovascular disease and asthma. The EPA of President Joe Biden said that the stricter standard of 9 micrograms of CO2 per cubic meter last year would prevent more than 800,000. This included 2,000 hospitalizations and 4,500 premature death. Trump has pushed for the revival of coal. In a Monday filing,...

The U.S. Environmental Protection Agency has asked a federal judge to overturn the 2024 soot limit for factories and power plants. Critics have called this a blatant retreat away from one of its most important public health protections in recent years. In a Monday filing, the EPA sided up with 24 states, led by Kentucky, and industry groups, including the National Association of Manufacturers, who sued the EPA in order to overturn the 2024 standard for fine particulate matters, also known as PM2.5. Nearly 91% coal plants currently in operation already meet the new standard. Soot is linked to cardiovascular...

On Thursday, a grizzly attacked a group of schoolchildren and an adult on a British Columbia walking trail. Three children were seriously injured. On Friday, officers were still looking for the animal. The attack took place in Bella Coola, a town on the central coast of Canada’s westernmost province. Residents have been asked to stay indoors until further notice. B.C. Conservation Officer Service posted a Facebook statement saying that despite overnight efforts, the bear had not been captured. According to a statement, the students and teachers were stopped on a trail near a river when the grizzly emerged from the...

Glass Lewis' top executive has said that the company may register as an investment adviser in the United States. This would expose it to greater regulation, but could also help ease criticisms from Republican politicians and corporate executives over its proxy voting advice. Glass Lewis Chief Strategist Cheryl Gustitus said in an interview with The Washington Post on Friday that "we're seriously considering registering as an investment advisor" at the Securities and Exchange Commission. Gustitus didn't give a time frame for when the company owned by Canada’s Peloton Capital Management, and its Chairman Stephen Smith might make a final decision....

Media reports said that rescue workers searched on Tuesday for a group who had gone missing during a powerful storm in Torres del Paine National Park in Chile, located in southern Patagonia. The storm killed at least 2 Mexicans. According to T13, one of the victims died after she was evacuated. Guillermo Ruiz is the delegate of the president for Chile's southern Ultima Esperanza Province. He told T13 the first responders are still searching for seven people but bad weather has complicated the search. The tourists are lost in the Los Perros camp of the national park, Ruiz stated. It...

Wildfires caused the largest tropical forest losses in 2024 Global warming is expected to worsen destruction Communities put in the center of fire prevention at COP30 By Andre Cabette Fabio The government agencies responsible for the environment and forests in Ecuador, Peru Ghana and Kenya, along with more than 30 environmental and indigenous groups from around the world, signed an agreement that will secure $100 million by 2030. The pledge will initially focus on the Amazon Basin - the largest tropical forest in the world, which is located mostly in Brazil. Fires are raging in forests that were not likely...

In the midst of the bustle and noise in a posh coffee shop located on Sao Paulo’s Oscar Freire Avenue a barista prepares an unusual espresso. The shot is extra creamy with a cocoa nib aroma, but lacks the acidity that distinguishes coffees made from arabica beans. This premium espresso is 100% robusta, a bean that has been criticized in the coffee industry as a cheap filler more suited to instant coffee. Marco Kerkmeester said that the coffee has a lot more chocolatey notes and makes a great crema. He also noted the appeal of a variety cheekily labelled "0%...

Brazilian Environment Minister Marina Silva fought tears while global diplomats applauded for several minutes Saturday at the closing plenary session of the COP30 climate summit. She told the delegates in the Amazon rainforest town of Belem that "we've made modest progress, even if it was modest." Then she raised her fist defiantly above her head. "The courage to face the climate crisis is a result of persistence and collective efforts." The Brazilian hosts were able to release their frustrations in the tense room where many nations expressed their displeasure with a deal which failed to mention fossil-fuels, even though they...

Brazil's president Luiz inacio Lula da Silva said that the G20 climate summit in South Africa, and the COP30 summit in Brazil, show that multilateralism remains alive despite attempts by U.S. Donald Trump to dismantle. "Trump is trying to preach against multilateralism and to reinforce unilateralism. "I think multilateralism is going to win," he said to reporters at the Group of 20 summit in Johannesburg. Lula said that Trump's absence from the summit "didn't really matter" to him. "The G20 is still strong." "We need to put the decisions we made into action," he said. He added that he was...

Brazil's COP30 summit was forced to face a crucial day on Saturday after all-night discussions to break an impasse. The European Union had blocked a deal that it felt would not advance efforts to curb greenhouse gases, which are driving global climate changes. The two-week climate conference, billed as an opportunity to demonstrate that nations could still unite to combat climate change in the absence of the United States, was supposed to end on Friday. However the standoff forced the negotiators to work overtime. The Brazilian presidency tried to reach a compromise over a deal which most of the 200...

Brazil's COP30 Climate Summit faced a crunch-day on Saturday, after all night talks to overcome an impass after the European Union had blocked a deal it claimed would not advance efforts to curb greenhouse gases that are driving global climate changes. The two-week climate conference, billed as an opportunity to demonstrate that nations could still unite to combat climate change in the absence of the United States, was supposed to end on Friday. However the standoff forced the negotiators to work overtime. The Brazilian presidency tried to reach a compromise over a deal which most of the 200 countries attending...

Brazil, the COP30 summit's president, released a draft of a proposed agreement for this year’s U.N. Climate Summit early on Friday. It dropped a proposal that was included in a previous version to develop a plan to move away from fossil-fuels. This issue was one of the most controversial at the two week conference in the Brazilian Amazon city of Belem, attended by nearly 200 government officials. The nations have been arguing over the future for fossil fuels. Their burning releases greenhouse gases, which are the biggest contributors to global warming. The first draft of the deal, which was released...

Brazil's economic model is designed to benefit locals from a healthy forest. It was developed on the banks of Guama River, where the city Belem borders the Amazon rainforest. The state government of Para, instead of clearing trees to make way for mines and cattle, unveiled this year a research-and-development program that will help locals turn forest products such as acai or Brazil nuts into goods destined for international markets. The program is a part of a larger plan to demonstrate to the world, in Belem, the host city for the COP30 climate summit, that Brazil can protect the Amazon...

Officials said that the fire which forced the evacuation of the COP30 Climate Summit in Belem, Brazil, on Thursday has been put out. However, it is unclear whether delegates will return immediately to continue the negotiations. The Brazilian tourism minister informed reporters on the scene that the fire had been put out and that no one had been injured. However, he was unsure if delegates could return to the area of the venue in which the summit negotiations took place today or tomorrow. The summit organizers confirmed that the fire had been brought under control and added that Brazilian fire...

On Thursday, UN Secretary-General Antonio Guterres called for an agreement from the Climate summit COP30 Some have called for clarification on the controversial subject of weaning off the world. fossil fuels The Belem summit, in Brazil's Amazonian city, missed the self-imposed deadline of Wednesday to reach agreement between the 200+ countries that were present. This included issues such as how to increase climate financing and move away from fossil fuels. Guterres said at a summit press conference: "I welcome the calls for a just and fair transition mechanism, as well as the growing coalition that is calling for clarity in...

Brazil's President was scheduled to meet with key negotiators on Wednesday at the COP30 Summit as part of a push to reach a deal before schedule on some the most controversial issues in the global talks on climate change, including fossil fuels. Nearly 200 countries have gathered in the Amazonian city of Belem for a two-week U.N. Summit to increase multilateral action on climate change. The United States was absent, but the United States is the largest emitter of greenhouse gases. Brazil, the host country, hopes to break the trend of recent climate summits that have run past their deadlines...

Five sources said that plans to launch a U.N. supported global market to trade carbon offset credits hit a snag during the COP30 Summit, as governments struggled to resolve a disagreement over funding in order to get the market running. The U.N. has been trying to create a global carbon market since the early 2000s. At last year's climate summit, rules were agreed on for a U.N. centralised trading system that allows countries and companies to buy CO2 emission credits which represent emissions reductions from poorer countries. It is intended to allow richer countries and companies to count these emission...

Jamaica has spent many years building up a fund to deal with climate-driven disasters. The money was only enough to cover 5% of a storm's cost. Matthew Samuda, Jamaican cabinet Minister, said that Hurricane Melissa left the island with bills of $10 billion. Of this amount only $500 million could be covered by climate-preparation reserve funds. Jamaica has asked wealthy nations to offer urgent grants, investments and concessional financing at the COP30 Climate Summit in Belem. It does not want commercial rate loans, which would burden the country with additional debt, as it faces an uncertain future that is expected...