CEOs feel the pressure to take action on climate change in the absence of government regulation, executives at Patagonia and Ceres said at an Axios virtual event on Tuesday.
What they're saying: Federal and state regulators, starting with the Securities and Exchange Commission and Federal Reserve, should not let policies to offset climate change be voluntary for businesses, Mindy Lubber, CEO and president of the sustainable investment advocacy group Ceres, said.
Banking giant Citigroup said that last year it declined 11 "transaction opportunities" around coal mining or coal-fired power as a result of recently launched climate policies.
Why it matters: The tally, part of a wider ESG report released Monday, provides a rare glimpse at specific business fallout of Wall Street giants' growing restrictions on certain types of fossil finance.
Tesla's latest earnings reportbeat expectations handily, thanks largely to its investment in bitcoin and regulatory credits, but the stock fell by as much as 3% in after-hours trading.
By the numbers: Tesla reported revenue of $10.4 billion and a record-high $438 million in net profits. The company said it made $101 million from the sale of some of its bitcoin holdings after investing $1.5 billion in February.
A new report from the International Energy Agency and the European Patent Office tracks the upward march of clean energy patent applications worldwide — and warns that it's not enough.
Driving the news: The report shows a resumption in clean energy patenting after a slump in recent years, and that innovation in these technologies is outpacing fossil fuel-related patenting.
Marine scientists announced Monday they've uncovered at a former industrial waste site off the Southern California coast some 25,000 barrels that their research indicates contain the toxic chemical DDT.
Why it matters: Scientists had previously detected in the area near Santa Catalina Island "high levels of DDT in marine mammals including dolphins and sea lions," with exposure to DDT and polychlorinated biphenyls, or PCBs, per a statement from the Scripps Institution of Oceanography.
The Environmental Protection Agency (EPA) on Monday signaled its intention to rescind Trump-era policies blocking California from setting its own vehicle carbon emissions rules.
Why it matters: The move would restore California's ability to be an environmental regulator after former President Trump stripped the state of that right.
A wide coalition of environmental groups on Monday will urge President Biden and Capitol Hill leaders to require major increases in zero-carbon power generation in the infrastructure package lawmakers are crafting.
Why it matters: Their letter today backing a "clean electricity standard" (CES) signals a growing push behind the idea across a big swath of the environmental movement.
