Look for carbon emissions from companies held by private equity to come under increasing scrutiny, a new report finds.
Driving the news: MSCI, the investment research and data firm, is out with its list of trends and topics to watch in the environmental, social and governance (ESG) space.
The most interesting thing about President Biden's executive order on federal government emissions isn't the headline goal — net zero in three decades — but rather the interim targets.
Catch up fast: Biden yesterday issued a wide-ranging order on federal climate goals and clean technology procurement targets.
The Swedish electric boat startup Candela has raised $27 million from investors led by EQT Ventures, making it the latest of several firms in that space to attract fresh investment.
How it works: The company is looking to commercialize multiple types of boats that use hydrofoil technology, or "computer-guided underwater wings." They say this requires much less energy to propel the vessels.
California officials said they arrested a father and son Wednesday on suspicion of starting the Caldor Fire, which threatened the Lake Tahoe area as it burned for over two months earlier this year. They deny any wrongdoing.
Why it matters: The wildfire was the 15th-biggest ever recorded in California, razing more than 1,000 structures, forcing thousands to evacuate and injuring five people as it burned across nearly 222,000 acres of land in El Dorado, Amador and Alpine counties.
Averting the worst effects of climate change will eventually require the entire world to get off carbon, but some critics allege richer countries are trying to halt fossil fuels in poorer countries while continuing to drill at home.
Why it matters: New policies that aim to restrict fossil fuel development in poorer countries in the name of climate change are on a collision course with those nations' need for energy-fueled growth and development.
President Biden signed an executive order Wednesday that requires the federal government achieve multiple goals related to reducing its carbon emissions, including achieving net-zero emissions by 2050.
Why it matters: Meeting the objectives of the order would require a massive investment by the federal government to buy electric vehicles, upgrade buildings and change how it procures electricity.
The U.S. InternationalDevelopment Finance Corporation (DFC) will provide up to $500 million in debt financing for the U.S. company First Solar's plan to build a major module factory in India.
Why it matters: The DFC said its the largest debt financing transaction in its history. And the WSJ delves into the geopolitics of the deal, noting it's "putting American taxpayer money behind a bid to weaken China’s dominance of the solar industry’s supply chain."
A new report concludes that global spending on oil-and-gas exploration and production needs to increase greatly in coming years to ensure adequate supplies, even as demand growth slows.
Driving the news: The Saudi Arabia-based International Energy Forum and the consultancy IHS Markit say investment should reach nearly $525 billion in 2030 to enable market balance.
In announcing Tuesday that it's going public via a special purpose acquisition vehicle (SPAC), climate intelligence company Tomorrow.io signaled its intent to become a top provider of weather and climate risk information in an increasingly risky world.
The big picture: The extreme weather and climate risk services space is getting more crowded. Boston-based Tomorrow.io offers a wider array of services than most of its fellow upstarts and now competes with bigger companies like IBM and Verisk Analytics.
BP is acquiring Amply Power, a three-year-old tech startup that provides a suite of services for electric vehicle fleets.
Why it matters: BP, in Tuesday's announcement, said the acquisition represents its "first major step into electrification in the U.S." Terms of the deal were not disclosed.
The global ocean is emerging as a promising target for carbon removal efforts, according to a new report.
Why it matters: It's now clear that removing and storing carbon dioxide, as well as reducing carbon emissions, will be necessary to avoid the most dangerous effects of climate change.
"Don't Look Up", the new movie directed by Adam McKay of "The Big Short" fame, is the most ambitious, acerbic and powerful climate change and media satire ever made.
Why it matters: Pop culture depictions of climate change can start conversations and change minds, potentially clearing the way for more policies to combat the problem, or on the other hand, hardening opposition against cutting emissions.
