Why it matters: The cost of extreme weather events is projected to climb in the near-term and is already at least $150 billion per year in direct damages alone. (The report notes that is a conservative estimate.)
ExxonMobil boss Darren Woods is hoping for a vibe shift at COP28 and beyond.
Driving the news: Woods is seeking recognition that a wide array of parties and companies — including oil giants — are needed to cut emissions, he said in a response to a question from Axios' Hope King on the sidelines of the APEC summit in San Francisco.
Frontier, the group of business giants trying to juice carbon removal markets, has deals with two companies working to scale direct air capture (DAC) technology.
Why it matters: Contracts with Heirloom and CarbonCapture are Frontier's first major offtake agreements with startups using DAC, a method receiving a growing amount of federal and private sector finance.
New York's attorney general sued PepsiCo Wednesday, accusing the food and beverage giant of "endangering" people's health and the ecosystem with pollution from its single-use plastic products and making "misleading statements" about combating the problem.
The big picture: The lawsuit comes as negotiations on a landmark global plastic treaty kick into a new gear with a UN summit in Nairobi, Kenya, this week. PepsiCo was among over 70 brands that last year called for the adoption of the treat to cut production of the material.
The U.S. and China agreed Tuesday night to jointly tackle aspects of human-caused climate change, including the promotion of renewable energy technologies.
Why it matters: The agreement marks the next level of bilateral engagement on climate between the world's two biggest emitters.
