The Biden administration on Wednesday announced the cancelation of two mine leases near Minnesota's Boundary Waters Canoe Area Wilderness that had been renewed under former President Trump.
Why it matters: The announcement comes on the heels of a legal opinion from the Interior Department’s Office of Solicitor, which ruled that the leases, held by Twin Metals Minnesota, were "improperly renewed" by the Trump administration.
A powerful blizzard is likely to strike parts of New England and the Mid-Atlantic beginning Friday and lasting into the weekend, with snow totals that are likely to be measured in feet.
The big picture: The joining of weather systems embedded in both the polar, or northern branch, of the jet stream and the southern branch is projected to create a bomb cyclone. Such storms undergo a process known as bombogenesis, with their minimum central air pressure readings plunging at least 24 millibars in 24 hours.
Sylvera, a London-based startup that aims to provide accurate and independent information about carbon offsets, raised $32.6 million in a Series A funding round co-led by Index Ventures and Insight Partners.
Why it matters: Offsets, like forest planting and preservation, can help businesses become more climate-friendly. But the carbon credit market is notoriously saddled with integrity and verification problems.
General Motors is filling in the blanks on its multibillion-dollar plans to bolster electric vehicle and battery production amid growing competition in the sector.
Driving the news: The company on Wednesday detailed $7 billion worth of investments in Michigan that it said would create 4,000 new jobs.
President Biden will meet the heads of corporate giants including GM and Ford on Wednesday, part of the White House bid to salvage even a slimmed-down version of Democrats social spending and climate bill.
Driving the news: GM CEO Mary Barra and Ford CEO Jim Farley will attend, along with heads of Microsoft, Salesforce, TIAA, Siemens and other companies.
Tesla is expected to report record earnings Wednesday afternoon after its highest-ever quarterly and full-year sales.
Why it matters: Beyond the Q4 numbers, analysts and investors will be looking for clarity on the still-mysterious timing of planned products like the Cybertruck and the semi-truck.
GM is making the largest investment in company history in its home state of Michigan, with plans to spend $7 billion to convert a factory to make electric pickups and to build a new battery cell plant, AP reports.
Why it matters: GM is rolling the dice on Americans converting from internal combustion engines to battery power.
A high-impact, powerful winter storm is becoming more likely to affect parts of New England and potentially the Mid-Atlantic states this weekend.
Threat level: The storm, now simulated by most of the reliable computer models used as weather forecasting tools, could bring upwards of a foot of snow, blizzard conditions due to high winds and heavy snow and coastal flooding from Long Island to Maine.
The emir of Qatar will meet with President Biden at the White House on Monday to discuss Afghanistan as well as contingency plans to provide natural gas to Europe in the event of a Russian invasion of Ukraine, Axios has learned.
Why it matters: Europe's reliance on Russia for 40% of its natural gas is undermining Biden's attempts to coordinate "massive" sanctions to be imposed from both sides of the Atlantic if Russia invades. The White House wants Qatar to help ensure European countries can enforce tough sanctions without risking an energy crisis.
Rihanna's philanthropical organization, the Clara Lionel Foundation, announced on Tuesday that it will give $15 million to 18 organizations fighting for climate justice in the U.S. and Caribbean.
Why it matters: Scientists concur that some extreme weather events will become more frequent and more severe as climate change progresses.
The consulting firm Aon is out Tuesday with its summary of natural disasters report from 2021, which has a heavy emphasis on economic losses from climate and extreme weather events.
Why it matters: As the world warms, certain extreme events are becoming more severe and frequent, although climate trends may not be easy to discern in the aggregate statistics.
The International Monetary Fund's new update to its world economic outlook says "the ongoing climate emergency continues to pose grave risks to the global economy" and warns that current policies are inadequate.
The big picture: "Much larger coordinated global policies — including carbon price floors —will be needed to meet the new goals laid out at the Glasgow climate conference and stave off catastrophic global climate change," it states.
Chesapeake Energy Corp. on Tuesday announced a $2.6 billion cash and stock deal to acquire Chief E&D Holdings and associated assets, a move that bolsters Chesapeake's position in the prolific Marcellus shale gas basin.
Oklahoma-based Chesapeake also said it's selling assets in Wyoming's Powder River Basin to Continental Resources for $450 million.
Boeing's $450 million investment in the autonomous electric air taxi startup Wisk is the latest sign of capital pouring into tech that could one day transform urban and regional mobility and curb carbon emissions.
Catch up fast: The aviation giant's latest funding for Wisk will help the California-based company develop the latest version of its electric vertical takeoff and landing (eVTOL) aircraft.
Transitioning the global economy to net-zero emissions by midcentury would have high upfront costs, but huge benefits in the form of reduced climate damage and industrial innovations, two new reports out today show.
Why it matters: The reports each detail the enormous upsides to limiting global warming's severity, along with the growing perils from inaction.
