JPMorgan Chase said Monday that it won’t directly finance new oil and gas development in the Arctic and will significantly curtail its financing of the extraction and burning of coal.
Why it matters: JPMorgan is the world’s largest funder of fossil-fuel companies, according to a report by the Rainforest Action Network (RAN). The announcement follows similar moves by other big banks and investment firms, including Goldman Sachs and BlackRock.
The chart above shows how the share of federal spending on energy research and development has largely declined over decades.
Driving the news: It's one of the data points in a report last week urging Congress to greatly expand the federal programs that help develop and commercialize climate-friendly tech.
The closing memo from the G20 finance ministers' weekend meeting points out that the multilateral Financial Stability Board is "examining the financial stability implications of climate change."
Why it matters: The brief shout-out is the first time that G20 finance officials have referenced climate in a joint communique during the Trump administration, Reuters reports.
Trump administration officials face headwinds as they seek agreements to export more U.S. liquefied natural gas to India, the Wall Street Journal reports.
Where it stands: Buyers are wary of long-term deals and instead are increasingly turning to the more flexible spot markets to find cheaper supplies.
Swing voters in four battleground states decisively oppose President Trump's sweeping rollbacks of environmental regulations — but it's unlikely to sway their votes.
Why it matters: It's voters living in states like these, including Florida and Pennsylvania, who fill pivotal roles electing America's presidents, so we should listen.
Antarctica's Eagle Island now has a side that's almost ice-free following this month's searing heat wave in the region, images released by NASA show.
Why it matters: "The warm spell caused widespread melting on nearby glaciers," NASA said in its report. It's the third major melt event of the 2019–2020 Southern Hemisphere summer, following warm spells in January and last November, according to the United Nation's World Meteorological Organization (WMO).
