BP is supporting a proposal by activist investors that calls on the multinational giant to disclose how its spending and strategies sync up with the Paris climate agreement. In a related move, BP said progress on greenhouse gas cuts will factor into the pay of 36,000 employees, including executive directors.
Why it matters: Friday's move is the latest sign of how some of the world's biggest fossil fuel producers are responding to pressure from advocates — including some large investors — on global warming.
President Trump's latest headache comes from outdoor brands increasingly radicalized by climate change and his stewardship of public lands.
Driving the news: Trade groups representing hundreds of outdoor companies announced a new effort this week to push for policies that reduce greenhouse gas emissions and explore renewable energy.
Although 2018's new vehicle sales in the U.S. were fairly flat with the previous year's, sales of electric vehicles (EVs) were up more than 80%, smashing previous records. That remarkable growth comes despite the fact that you can’t even find an EV at many dealerships across the country.
The polar vortex came swirling back into the U.S. this week, bringing with it record cold temperatures not seen in 20-plus years, and wind chills capable of causing frostbite in mere minutes.
Why it matters: It was a reminder that it's possible to have extreme cold in a warming world. That's partly because there will always be weather variability. But there's also some evidence that, paradoxically, global warming may be leading to more frequent disruptions of the polar vortex — which can cause extreme cold and high-impact winter storms across the U.S., Europe and Asia.
Cities across the Midwest and Northeast U.S. set new record low temperatures Wednesday and Thursday morning as a once-in-a-generation cold snap swept through the U.S. The frigid conditions have been linked to at least nine deaths already.
The big picture: An air mass that originated in the High Arctic is sweeping through the U.S., but even though temperatures are expected to start easing this afternoon and be above freezing this weekend in parts of the Midwest, this is likely not the last time this kind of sudden cold snap could affect large portions of the nation. Recentstudies show climate change could cause more southward jogs of the polar vortex in the future.
"Royal Dutch Shell Plc came through a quarter of volatile oil prices to beat earnings estimates, delivering a surge in cash flow the company said will underpin 'world-class' returns to investors," Bloomberg reports.
By the numbers: The company on Thursday announced a $5.7 billion fourth quarter profit and a full-year profit haul of $21.4 billion.
Oil prices have been rising this week. But here's the more interesting thing: they're not going bananas these days, not at all, despite a good dose of geopolitical turbulence and market intervention, including U.S. sanctions.
The big picture: Prices are up in recent days (Brent is pushing $62 per barrel and WTI is above $54), but they're still more than $20 below the elevated early-October levels, which were four-year highs.
Rep. Alexandria Ocasio-Cortez (D-N.Y.) and Sen. Ed Markey (D-Mass.) are set to unveil legislation laying out a “Green New Deal” as soon as next week, Axios has learned.
Driving the news: A spokeswoman for Markey confirmed the offices are working on legislation, but said there is no final text and timing isn’t final yet for next week. A request to Ocasio-Cortez’s office wasn’t immediately returned. Varshini Prakash, co-founder of the Sunrise Movement, also said legislation is due as soon as Wednesday or Thursday of next week. The youth-led group has been at the forefront of the Green New Deal movement.
An extreme winter weather event is unfolding across the Midwest on Wednesday through Thursday, and numerous daily and some all-time temperature records have been shattered.
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