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Global rally against Putin is what climate response is supposed to look like

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Source: alisdare / Flickr

By David Callaway, Callaway Climate Insights

It’s somewhat frustrating to talk about the dangers of climate change when a madman is holding a nuclear weapon to the world’s head, but some of the private corporate responses we’ve seen in the last 24 hours to Vladimir Putin’s war in Ukraine give a sense of what can be accomplished when the world is united on something.

The United Nations climate report this morning warning of a dramatic upheaval in global warming impacts in the next 30 years held its own in the news cycle as it painted a picture of a world that in many of our lifetimes will look very little like it does today. Rising seas, wildfires and extreme heat will render large parts of the world uninhabitable, particularly in Africa and Asia, and triggering the greatest human migration in history, the Intergovernmental Panel on Climate Change said.

We’re getting a taste of migrations in the last 72 hours, with the humanitarian crisis in Ukraine causing more than a half million people to flee for Poland and other adjacent nations, and reportedly up to two million more behind them waiting to get out. While the situation in Ukraine is the most pressing priority in the world today, our global response is a sure sign of what can be done in the face of the certain disasters to come.

To read this column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.

Callaway Climate Insights Newsletter

By David Callaway

Are Corporations Keeping Their Promise to Fight Climate Change?

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Source: NicolasMcComber / iStock Unreleased via Getty Images

With the climate crisis looming larger, it is becoming ever more clear that humanity must radically change its habits to avoid devastating, irreversible consequences. As of March of 2021, 21% of the world’s 2,000 largest corporations have made commitments to be carbon neutral or achieve net zero emissions by a future date, usually 2050, in an attempt to be consistent with goals set by the Paris Agreement. (Here are 20 islands that will disappear in your lifetime.)

But how can we assess these pledges — is the touted climate consciousness about image or based on thoughtful analysis and planning for the future, with changes in operations designed to make a difference. New Climate Institute, a nonprofit organization that supports climate change research and action, in collaboration with Carbon Market Watch, a nonprofit that promotes climate action, has produced a report, Corporate Responsibility Monitor 2022, to provide insight into how some large corporations that have announced climate goals are actually working to reduce their carbon footprints. 

The report assesses 25 companies that together represent $3.2 trillion in revenues and 5% of worldwide greenhouse gas emissions. (All data is from the report.) The assessment paints a dismal picture, with a good amount of corporate publicity about climate commitments amounting to bluster, referred to as “greenwashing.”

The researchers rated companies for “transparency” in terms of disclosures of their emission sources and data, and for the “integrity” of their planning, defined as quality and credibility, and found all companies lacking to a greater or lesser degree. Most companies were cited for incomplete or inconsistent data, reduction strategies that lack detail, and interim goals that do not legitimately create a path to net zero emissions. 

Companies need to address not only the carbon output of their own operations, called scope1 emissions, and indirect emissions associated with their energy use, scope 2, but also the emissions from their upstream suppliers and downstream customers, scope 3. Many corporations failed to consider scope 3 emissions. While many companies appear to be sincere in their efforts, progress everywhere is very late coming and very slow playing out. (This company produces the most plastic waste in the world.)

Click here to see if corporations are making good on their promise to fight climate change

Why investors like Latin America’s inflation-beating ESG stocks

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Source: ciat / Flickr

By Michael Molinski, Callaway Climate Insights

(Michael Molinski is a senior economist at Trendline Economics. He’s worked for Fidelity, Charles Schwab and Wells Fargo, and previously as a foreign correspondent and editor for Bloomberg News and MarketWatch.)

SÃO PAULO (Callaway Climate Insights) — Latin American stocks led the world in January, and much of that is because oil, commodities, financials and gold — historically stocks that beat inflation over time — outperformed.

And many of those stocks excelled in ESG Ratings, stocks which had solid environmental, social and governance policies.

Latin American stocks rose 7.3% in last month, compared to a 1.9% drop in the MSCI Emerging Markets index and a 5.3% decline in the Developed Markets index for the period.

Metals, mining, oil, gold, commodities, real estate and financials were a big part of the outperformance of Latin America. The reason is simple: inflation is rising, and those sectors stand to benefit. Materials and commodity producers generally do well when inflation is on the uptick, with financials joining the party not long after. . . .

To read this column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.

Callaway Climate Insights Newsletter

By David Callaway

20 Islands That Will Disappear in Your Lifetime

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Source: Fiona Goodall / Getty Images for Lumix

One of the first acts of the Biden Administration was to rejoin the Paris Agreement, which aims to reduce carbon emissions in an attempt to slow the rate of global climate change. The key goal is to prevent a temperature increase of more than 2˚ Celsius relative to pre-industrial levels. If that goal is not met, the consequences could be far-reaching and include widespread extinction, severe drought, and substantial sea level rise.

Even in the less extreme scenarios, the oceans are expected to rise several feet by the end of the century. This means that low-lying populated islands, including many island nations with hundreds of thousands of residents, are at high risk of disappearing in the coming years. Many of these island nations are taking action, formulating sustainability strategies, building walls to keep out rising oceans, relocating people who are at risk from surging sea levels, or planning to construct floating islands sustained by solar and wind power like French Polynesia.

24/7 Wall St. identified the islands that, as a result of the ongoing sea level rise, are likely to lose substantial landmass by the end of the century. 

The severity may vary locally, but it is a global issue nonetheless. At the Copenhagen climate conference in 2009, a spokesperson for small island nations warned that many would not survive a two-degree rise: “Some countries will flat-out disappear.”

Because of differences in water temperature, tectonic shifting, and the Coriolis effect, Ocean and sea levels are not rising evenly. In some parts of the world, therefore, especially in Southeast Asia and the Pacific Islands, as well as the East Coast of the United States, water levels had already risen faster than in other parts of the world. In addition to the islands at risk, there are some very highly populated cities in these places that are similarly at risk for inundation. Here are some cities around the world that could soon be underwater. 

Click here to see 20 islands that will disappear in your lifetime

Putin’s war will remake Europe’s energy grid, plus ESG in a money-laundering world

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Source: Adam Berry / Getty Images News via Getty Images

By David Callaway, Callaway Climate Insights

We’re all going to learn a lot about Russian history and Ukraine in coming weeks, but a better way to gauge the historic nature of Putin’s War is through the energy markets, which will be redrawn in Europe because of it.

Oil and natural gas prices leaped Tuesday, as expected, and oil will certainly go above $100 a barrel in coming weeks as the dramatic nature of what the Russian leader’s invasion of Ukraine means for Europe, which draws some 40% of its energy from Russian oil and gas.

Germany’s Olaf Scholz put a halt on the Nord Stream 2 pipeline from Siberia to Germany this morning, as promised. But that pipeline was not open yet anyway, and Putin has four more pipelines he can play politics with, right in the middle of winter. Whether climate solution advocates like it or not, the need for oil and gas is going to become the story in coming weeks.

But behind the scenes, the groundwork already laid for renewable energy in Europe — particularly in its largest economy, Germany — is going to expand with wartime urgency, meaning faster than any energy analysts have ever thought possible. Far from being taken hostage by Putin’s oil, this global event will hasten Europe’s transition, and ultimately, deprive Putin of his most valuable export and chief economic driver.

The wheels are in motion, and Western sanctions will set the pace. Putin is making a mistake on many levels in betting he can rebuild the USSR with Ukraine. But his bet on oil will cost him the most.

More insights below. . . .

Tuesday’s subscriber insights: SCOTUS EPA hearing could deal death blow to Biden’s climate agenda

. . . . Next week’s Supreme Court hearing of West Virginia v EPA could be the death blow to President Joe Biden’s climate agenda. After the collapse of “Build Back Better” and the precipitous plunge of climate priorities amid turbulent financial markets and the Russian invasion of Ukraine, the new makeup of SCOTUS is likely to remove the authority of the Environmental Protection Agency to regulate greenhouse gases, if not the entire ability of Congress to delegate authority to regulatory agencies. Read more here. . . .

. . . . Nine months out from COP27 in Egypt and climate leaders are already back-pedaling on the potential for progress from a knee-capped Glasgow summit last November. Whereas Glasgow was (supposedly) about new international cooperation on reducing greenhouse gas emissions, COP27 in Sharm El-Sheikh will be geared toward international financing for countries who need help combating global warming. Although we are relatively new on the climate circuit, this seems pretty much dead in the water to us, having witnessed the failure of leading nations to commit funds in Glasgow, and to live up to previous commitments. If COP27 is simply a “hands-out” exercise, we can expect a lot of empty rhetoric and little check writing, as we move to another year out. . . .

. . . . The shocking weekend report about Credit Suisse holding some 30,000 accounts for drug dealers, autocrats, and other international criminals back to the Second World War by my friends at Suddeutsche Zeitung should jolt anybody who wants to give the benefit of the doubt to global financial institutions with regard to their sincerity about a sustainable transition from fossil fuels. Credit Suisse hosted one of the bigger ESG conferences in Europe last year, with both Mark Carney and Michael Bloomberg speaking, among others. How a bank can talk climate change and sustainability with a straight face while harboring these accounts in flagrant violation of international money laundering regulations is beyond us. This one might just be the nail in the proverbial coffin for scandal-plagued Credit Suisse. . . .

. . . . And finally, if you’re like me, you’re tired by now of the 2/22/22 references, and happy that tomorrow is another day. But one story in The Independent caught my bleary eye this morning, which said that today in astrology circles marks Pluto’s Return. I don’t spend a lot – OK, any – time on astrology, but I was intrigued by this story that equated planet Pluto’s 248-year orbit around the sun with the rise and fall of civilizations here on Earth. The last time Pluto was in this spot was just a few years before the signing of the Declaration of Independence. Past appearances have coincided with the fall of the Roman Empire and the start of the Elizabethan era. Today, we see the biggest attempt by a dictator to redraw Europe’s map since 1945, and of course, Covid over the past two years. Thanks, Pluto. Take a hike. . . .

Editor’s picks: Deadly flash floods near Rio; new European building emission database launched

New European building emission database launched

The Partnership for Carbon Accounting Financials, PCAF, has launched a European building emission factor database. According to the consultancy Guidehouse, which serves as the PCAF’s secretariat, “the publicly available database allows financial institutions access to a specified set of emission factors for commercial real estate and mortgages for all countries in the European Union, as well as Norway, Switzerland, and the United Kingdom.” The report also notes that depending on data availability, financial institutions can distinguish between European countries, residential and non-residential building types, and energy performance certificate (EPC) ratings to extract the specified emission or energy intensity per floor area or unit. “The launch of the PCAF European building emission factor database represents a crucial milestone of the PCAF project Financing towards net-zero buildings and enables financial institutions to measure and disclose the emissions of their European building portfolios,” said Giel Linthorst, executive director at PCAF and director at Guidehouse. “PCAF is glad to offer this publicly available database to any interested stakeholder.” Launched globally in 2019, PCAF has more than 210 financial institution signatories.

Deloitte China to acquire Carbon Care Asia

Deloitte China will acquire most of the advisory business of Hong Kong-based sustainability consultancy Carbon Care Asia. CCA said its sustainability, carbon strategy and ESG advisory services will be integrated to create a new practice, Deloitte Carbon Care Asia. Albert Lai, co-founder and CEO of CCA, said, “Since 2008, CCA has been driven by a mission to achieve a zero-carbon economy for all by promoting sustainability practices and raising climate competence in business, government and community organizations.” Deloitte China has 22,000 employees and provides professional services to nearly 90% of Fortune Global 500 Chinese companies. In a statement through CCA, Deloitte China said that as part of its efforts to help the world achieve the goals of the Paris Agreement, the company has committed to achieving net-zero greenhouse gas emissions by 2030 and launched the WorldClimate program to drive responsible climate choices within its organization and beyond.

Data driven: Zoning into the ozone layer

. . . . When was the last time you had a good long chat about the ozone layer? Get comfortable. We’ll try to make this short but useful. The ozone layer, a region of high ozone concentration in the stratosphere between 9 and 21 miles above Earth’s surface, is an invisible shield and protects life on earth by absorbing harmful ultraviolet radiation from the sun. In the ‘80s, scientists discovered severe ozone depletion over Antarctica, known as “the ozone hole.” The UN Environment Program notes “it was soon found that the ozone hole was a result of manmade chemicals called chlorofluorocarbons (CFCs) used in the manufacture of aerosol sprays, as refrigerants, blowing agents for foams and packing materials and solvents.” Those chemicals, along with others found to destroy stratospheric ozone, are collectively known as ozone-depleting substances (ODSs). “Understanding that continued depletion of the ozone layer would severely impact the health and well-being of humans, animals, ecosystems and climate, the global community responded swiftly.” The Vienna Convention for the Protection of the Ozone Layer was adopted in 1985, followed by the Montreal Protocol on Substances that Deplete the Ozone Layer in 1987. They are the first international environmental treaties to be universally endorsed by 198 nations of the world. The good news is that as a result, the atmospheric levels of nearly all these ODSs have declined substantially in the past two decades.

Callaway Climate Insights Newsletter

By David Callaway

Biden’s energy Hail Mary, Australia’s coal surprise, and our new website

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Source: Photo by Drew Angerer / Getty Images

By David Callaway, Callaway Climate Insights

In the absence of any progress on President Biden’s Build Back Better plan in Congress, the administration is eyeing every trick play in the book to drum up consumer and climate support ahead of this fall’s midterm elections.

One such Hail Mary came this week as Democrats said they might scrap the 18.4 cents-per-gallon national gas tax to help lower pump prices and reduce energy inflation. Such a move would be another gift to the oil industry and hold back higher adoption of electric vehicles just as they are beginning to catch on in the U.S.

Even some tax-hating Republicans are against it, as the consumer savings would quickly be overwhelmed by even higher prices; just as they were back in November when the administration released 50 million barrels of crude oil from the strategic energy reserve.

Another idea is to use $9.5 billion from the infrastructure law last year to invest in clean hydrogen. This makes more sense, but the U.S. is far behind Europe in adopting green hydrogen and no material benefits could be expected before the midterms.

The Biden team operates on the idea that lowering gas prices — however it’s done — is a better way to win consumers than to continue pushing costly climate initiatives. By mixing those messages, though, it only looks more confused, and desperate.

More insights below, including what’s behind Australia’s surprise closing of its largest coal-fired plant. . . .

The sustainability-linked bond scam, and how to end it

. . . . Sustainability-linked bonds, which allow companies to borrow money at lower rates by promising to hit specific climate targets, have boomed in recent years as a benefit for both the borrowing companies and investors, writes Mark Hulbert. But a new study that tracked how these bonds are set up found that many of them are at rates so low that companies can avoid hitting their targets and still save money, leaving gullible investors with less returns and no sustainability. Are these bonds just another form of greenwashing? . . .

Read the full column

EU notebook: Brussels makes pitch to lure Africa from China’s economic influence

. . . . Africa’s political and business leaders traveled to Brussels this week as the European Union sought to entice them away from the lure of Chinese economic spending with €150 billion in new project enticements, writes Stephen Rae from Brussels. EU Climate Commissioner Frans Timmermans said he particularly thinks Africa could be a starting gate for green hydrogen projects. The summit comes ahead of a key report later this month from the Intergovernmental Panel on Climate Change (IPCC) — the global science body on climate heating — which is expected to further detail the bleak future the African continent can expect from global warming, and the United Nations COP27 summit in Egypt later this year. . . .

Read the full EU notebook

Thursday’s subscriber insights: Australia’s largest coal plant closing is a bigger deal than you think

. . . . Origin Energy’s plans to shut Australia’s biggest coal-fired power plant seven years ahead of schedule is a bigger deal then many think. The Land Down Under’s right-leaning government has been a longtime supporter of coal, which still accounts for more than half the nation’s electricity. After a year of growing coal usage worldwide, Origin’s admission that the economics of competing against renewable energy still don’t work will send a chill through the coal industry. Joe Manchin take note. Read more here. . . .

. . . . With every drop of water important in increasingly parched and hot California — and renewable power a state priority — a water and electricity utility in the center part of the state has come up with a double solution: solar panels built over canals. The panels generate power while their shadow brings down evaporation from the waterways. It’s the latest example of using technology creatively to amplify the benefits to more than one solution. Read more here. . . .

. . . . About one in 10 U.S. homes was impacted by climate change last year, according to a new report from CoreLogic. The property damage to more than 14.5 million homes added up to just under $57 billion, according to the report, with the vast majority coming from winter storms. Read the report here. . . .

. . . . Gas prices are at their highest levels in almost 10 years. But a decade ago there were only a handful of electric vehicles that could bypass the yo-yo of fossil fuel prices. Now the situation in different. With EV sales having tripled in the past three years, and set for a new record in 2022, economic pain at the pump such as we’re seeing right now may soon be a thing of the past. Giving way to a scramble for EV chargers, we imagine. Read more here. . . .

. . . . Back to the future? The defunct DeLorean car company is seeking new life, with an expected electric version of its iconic car At least that is what it seems with the defunct DeLorean company seemingly revving up to introduce an electric version of its iconic car. Led by a high-powered duo from EV company Karma, the new DeLorean effort will be based in San Antonio, Texas, instead of Northern Ireland. Read more here. . . .

Editor’s picks: Record-setting monster wave, encroaching oceans

Four-story rogue wave sets record

Calling it a “once in a millennium” occurrence, researchers have revealed a rogue wave recorded on Nov. 17, 2020, around 4.3 miles off the coast of Ucluelet on Vancouver Island in British Columbia was around 58 feet tall, making it about three times higher than surrounding waves. The wave was detected by an oceanic buoy belonging to Canadian-based research company MarineLabs. The event is the subject of a scientific report by Dr. Johannes Gemmrich and Leah Cicon, both of the University of Victoria, published last week in the journal, Scientific Reports. “Proportionally, the Ucluelet wave is likely the most extreme rogue wave ever recorded,” said Gemmrich, who studies large wave events along BC’s coastlines as part of his work as a research physicist at the University of Victoria. “Only a few rogue waves in high sea states have been observed directly, and nothing of this magnitude. The probability of such an event occurring is once in 1,300 years,” he said in a statement.

100 years of sea-level rise in just 30 years

Sea level along the U.S. coastline is projected to rise, on average, 10 to 12 inches between now and 2050 — the same as was measured over the past 100 years, according to the 2022 Sea Level Rise Technical Report from NOAA and other federal agencies. Other key takeaways from the report include the prediction that sea level rise will create a profound shift in coastal flooding over the next 30 years by causing tide and storm surge heights to increase and reach further inland. By 2050, “moderate” (typically damaging) flooding is expected to occur, on average, more than 10 times as often as it does today, and can be intensified by local factors, according to the report. Additionally, the report says “failing to curb future emissions could cause an additional 1.5 to 5 feet of rise for a total of 3.5 to 7 feet by the end of this century.

Words to live by . . . .

“The ‘polluter pays’ principle is the only way to make the industrial sector pay for their use of raw materials, including the atmosphere, so I think it should be an essential underpinning.” — Jim Bruce, 93, the father of Canadian climate science, from an interview earlier this month with Canada’s National Observer.

Callaway Climate Insights Newsletter

By David Callaway

20 Graphic Novels That Were Made Into Really Good Movies

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Source: RADiUS-TWC

In a world of ever-shifting media trends, graphic novels have found a sweet spot. Showcasing both prose and visual imagery, their capacity for creative storytelling is unsurpassed. It isn’t surprising that so many of them have been adapted successfully into films: In many ways, they’re already like movies, telling their stories frame-by-frame.

To identify the 20 best movies based on graphic novels, 24/7 Tempo searched films designated as being adapted from graphic novels on IMDb, an online movie database owned by Amazon, then ranked them according to an index using average IMDb ratings and audience scores on Rotten Tomatoes, an online movie and TV review aggregator. Information on directors, cast, and plot came from IMDb.

 The line between graphic novels and comic books is blurry. Many graphic novels began life as serial comics, published by DC Comics or other periodical publishers, and were then collected into books. Many other ones, though, were conceived and executed like conventional prose novels, telling a complete story. (Graphic novels aside, here are 35 books becoming movies in 2022.)

Click here to see 20 graphic novels that were made into really good movies

Like any other novels, graphic novels – whether born out of comics or not – cover a whole world of subject matter. Some are superhero sagas. Others are science fiction stories or gritty crime thrillers. Some are satirical or sweetly funny. They cover a whole world, and inspire a universe of cinematic triumphs. (If superheroes are your thing, here’s a ranking of every Marvel movie from worst to best.)

The sustainability-linked bond scam, and how to end it

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Source: volvob12b / Flickr

By Mark Hulbert, Callaway Climate Insights

CHAPEL HILL, N.C. (Callaway Climate Insights) — The gap between exciting potential and depressing reality continues to widen for sustainability-linked bonds (SLBs).

I’m referring to bonds whose interest rates are dependent on the issuing company meeting specific sustainability targets. In theory they represent a huge step forward in the finance arena’s response to climate change. They are different from so-called green bonds, in which the issuing company agrees to only use the proceeds on green projects but makes no commitment to actually reducing its carbon footprint. With SLBs the issuers commit to certain externally-verifiable outcomes — and put a price tag on failing to do so.

SLBs represent a market-based way of holding companies’ feet to the fire. With an SLB the issuing company can potentially secure a lower cost of capital, and investors can get at least some assurance that the issuer’s commitments are more than just talk.

That oil and gas company committing to become carbon neutral by 2050? Offer them 30-year financing with a below-market interest rate if they make good on their commitment, but which jumps to a higher rate if they don’t meet their target. There should be a market-clearing price for such a transaction.

That’s the theory. The reality is far different, according to a just-completed study, which found that issuing companies more often than not have used SLBs to take advantage of well-meaning but gullible investors. . . .

To read this column, all our insights, news and in-depth interviews, please subscribe and support our great climate finance journalism.

Callaway Climate Insights Newsletter

By David Callaway

Climate gains military’s attention at an odd time; plus, France’s nuclear plans

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Source: icholakov / Getty Images

By David Callaway, Callaway Climate Insights

Why, in the face of a new European war with Russia, is the U.S. military talking about fighting climate change?

The U.S. Army’s release last week of a detailed climate strategy for electrifying its fleet and training troops for climate threats to national security took many by surprise by its timing. But it makes sense for several reasons.

It allows the military to push the envelope on new tech solutions to electrifying vehicles and planes; creating protective microgrids for installations around the world, and preparing for coming battles tied to climate migration, or water. It changes the supply chain calculus around the world in a way that makes troops more nimble and less exposed to dangerous and limited fossil fuels.

And a side benefit is that it gives the Biden Administration an important climate win that will be difficult to refute without arguing that spending on upgrading defense equipment is a bad investment. The Army is the largest part of U.S. military forces for the Department of Defense, which represents half of the energy use of the federal government and about half its climate footprint.

At a time when the world is focused on what a modern ground war might look like in Europe, the Army is leading the charge to fight a new war that is coming for us all.

More insights below. . . .

Tuesday’s subscriber insights: Floating charging stations explored in UK

. . . . You see the sign on your gasoline pump every time you fill up: 10% or, sometimes, 15% ethanol. Visions of excess corn being turned into friendly fuel fill your mind. Except that it turns out ethanol is a much bigger contributor to global warming than straight gasoline, according to a new study. Read more here. . . .

. . . . How do floating charging stations float your boat? The UK is reportedly experimenting with using offshore wind farms, or even electrified buoys, to charge electric ferries and ships without having to crowd them into busy ports. The process would speed the transition from fossil fuels of the shipping industry, which is currently responsible for about 3% of global emissions. Read more here. . . .

. . . . EY, the global consulting firm, which has been a supporter of Callaway Climate Insights events, announced plans earlier today to launch a new consulting business in the UK designed to help companies adhere to mandatory new climate disclosure rules by 2023. Rob Doepel, who had been running EY’s energy segment, will run the business, which comes with an investment from EY of £100 million ($135 million). The move is the latest by a big financial firm to beef up its climate advisory services amid an expected surge in need on climate disclosures. . . .

. . . . Speaking of nuclear, France’s new plans to build up to 14 more nuclear reactors in the next few decades dramatically highlight how at least one country in Europe hopes to cut its reliance on foreign oil and gas. It’s also putting Europe at even more of a crossroads as Germany proceeds with plans to ditch all its reactors. The U.S. is somewhere in between. Read more here. . . .

. . . . The Beijing Olympics, from a climate change perspective, just keep getting stranger, as the sudden appearance of real snow over the weekend caused havoc with a lot of the ski runs. Meanwhile, Accuweather came out with a cool story that looked at the locations of the last 19 Winter Olympic games and concluded that by 2050 only four of them could reliably promise enough winter to hold the games. Step forward Lake Placid, New York, Lillehammer and Oslo, Norway, and Sapporo, Japan. . . .

. . . . How do you know that electric vehicles have turned the corner from novelty to new normal? When all the auto ads in the Super Bowl are promoting plug-ins, including General Motors (GM), which had a fabulous spot incorporating Dr. Evil into its message. Read more here. . . .

Editor’s picks: The oncoming storms, UN says pollution kills more than Covid

UN expert: Pollution kills more people than Covid

Pollution is contributing to more deaths around the world than the Covid pandemic, says a special report from the UN environmental group, and the organization is calling on companies and states for “immediate and ambitious action” to ban certain toxic chemicals. The report, set to be presented to the U.N. Human Rights Council, says pollution is contributing to 9 million premature deaths annually, while Covid is blamed for about 6 million deaths around the world. A report from Reuters quotes the author of the report, U.N. Special Rapporteur David Boyd, as saying “Current approaches to managing the risks posed by pollution and toxic substances are clearly failing, resulting in widespread violations of the right to a clean, healthy and sustainable environment.”

Duke Energy to boost clean energy transition

Duke Energy’s CEO says the company has $63 billion of potential investment over the next five years, 80% of which will be directed toward the clean energy transition. “And we have the potential for that $63 [billion] to grow to $130 billion over the decade,” Lynn Good, Duke’s chair, president and CEO, said in an interview for S&P Global Market Intelligence. Good said a “solid runway of investment” will drive 5% to 7% adjusted earnings growth through 2026 and help meet its carbon reduction targets. On Feb. 9, Duke Energy announced plans to cut coal to less than 5% of its total generation by 2030 and fully exit coal by 2035. Duke Energy owns about 16 GW of coal-fired generating capacity, making up a little more than a quarter of its overall owned portfolio, according to S&P Global Market Intelligence data.  Duke shares are down more than 5% so far this year. The company, based in Charlotte, N.C., distributes natural gas and energy-related services.

Data driven: Dig 10 billion tons and waddaya get?

. . . . 10.8 billion tons: That’s the amount of resources extracted from the Earth just in 2022 so far, according to The World Counts. Moreover, the data show, each year we extract almost 90 billion tons of biomass, fossil energy, metal and minerals from the earth — “more than 11 tons for every single person on the planet. And for people in the western world this number is much higher.” The data resource site also say that, on average, every person on Earth uses “more than 11 tons of natural resources a year. People in high-income countries consume 10 times more per person than people from low-income countries. In 2017, North America had a ‘material footprint’ of 30 tons of natural resources per capita and Europe one of 20.6 tons per capita. Poor countries have material footprints ten times smaller of 2 to 3 tons.”

Callaway Climate Insights Newsletter

By David Callaway

Foods With a Strikingly Low Impact on the Environment

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Source: Ron and Patty Thomas / E+ via Getty Images

“Eat your veggies!” That mantra has been drilled into Americans since childhood, and most of us are following that sound advice. The Centers for Disease Control and Prevention’s “National Health and Nutrition Examination Survey 2015–2018” revealed 67.3% of adults aged 20 and older said they ate fruit on any given day. For vegetables, the percentage was much higher at 95%. Of course, what one person classifies as a vegetable is flexible. To some, a French fry is a vegetable and a sugary fruit cobbler is healthy because, well, it’s fruit.

Nevertheless, the study suggests a majority of Americans prioritize healthy eating habits. Packed with vitamins and minerals, fruits and vegetables are a staple of a balanced diet. Yet in addition to the nutritional punch these foods provide, we also need to weigh the impact fruits, vegetables, nuts, and other foods have on the environment in terms of water usage and greenhouse gas emissions. You presumably want products good for your health, but also good for the earth. (These are the foods with the worst environmental impact.)

Click here to see foods with a strikingly low impact on the environment

To find the foods with the least environmental impact, 24/7 Wall St. reviewed data from “Reducing food’s environmental impacts through producers and consumers,” a report published by Science magazine in 2018. Researchers covered 43 food products, using data from 2013. Foods are ranked by greenhouse gas emissions (GHG) in kilograms of carbon dioxide equivalents per kilogram (kg) of food product. In addition, we’ve included GHG emissions per nutritional unit as noted; land use and freshwater withdrawal required to produce 1 kg of product. (These are the 40 countries decreasing emissions the fastest.)

 An additional factor to consider when picking food products is pesticide use. To prevent pest infestations, fruits and vegetables are often sprayed with chemicals. Whenever possible, go with organic, or in the case of apples, “low-spray” fruit, grown with less harmful agents. 

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