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February 22 · Issue #78 · View online
The insider memo for sustainability leaders in the commodities sector.
If you would like help measuring your carbon emissions please visit https://carbonchain.com/contact
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Federal court ruling delays U.S. oil and gas drilling permits; Brookfield spurned in $14 billion plan to close coal plants; climate disclosure poses thorny questions for SEC as rules weighed, and much more… Welcome to the 78th Edition of the Climate Memo by CarbonChain!
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Federal court ruling delays U.S. oil and gas drilling permits
Permits to drill for oil and gas on U.S. public land will be delayed after a federal judge ruled against the Biden administration’s estimates of the social costs of greenhouse gas emissions.
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Brookfield spurned in $14 billion plan to close coal plants
Australian utility AGL Energy Ltd. rejected a multibillion-dollar takeover bid from Brookfield Asset Management Inc. and technology billionaire Mike Cannon-Brookes, who plan to accelerate the closure of the company’s polluting coal-fired power plants.
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Climate disclosure poses thorny questions for SEC as rules weighed
A key sticking point as the agency considers corporate rules is how much detail to demand about emissions produced by businesses’ suppliers and customers…Thomas Peterson, shareholder advocate at Boston-based asset manager Green Century Capital Management Inc., said not requiring disclosure of Scope 3 emissions would allow companies to appear to reduce their carbon footprint by shifting emissions to their suppliers and customers.
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Mayor of London issues £90m green bond programme to unlock £500m to combat energy crisis
The Mayor of London, Sadiq Khan, has unveiled a new £90m green bond investment aimed at mobilising around £500m in spending for low-carbon projects that combat rising energy bills and build towards the city’s net-zero target.
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Holding food and tech to the same climate standards is counterproductive
A new report from New Climate Institute tries to compare sectors apples to apples when food and tech can be like oranges and bananas. Food &Agriculture sector has more work to do when it comes to supply chains. The report points to the significance of those emissions — 91 and 98 percent for Walmart and Carrefour, respectively. As such, progress on this issue will be imperative for climate mitigation. With the Science Based Targets Initiative’s new food and agriculture guidance, the industry has a Scope 3 framework to adopt, hopefully leading to better alignment.
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UK solar market shows strongest growth in six years
2021 has been heralded as “potentially the most significant year to date” for the UK’s solar industry, which added 730MW of new capacity, an increase of 36% compared to 2020 levels.
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World Economic Forum - 7 steps for delivering net zero supply chains
An HSBC and BCG report found that despite increasing numbers of large corporates making emissions commitments, delivering on ‘Scope 3’ remains a huge challenge. A new front in the battle to combat climate change and achieve net zero is needed that rests on supporting SMEs and transitioning entire supply chains.
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