One of Britain’s top asset managers has warned it will use the “ultimate sanction” and ditch stakes in 30 of the world’s largest oil, gas, mining and utilities companies unless they do more to tackle climate change.
The vision laid out in the actions signed by Biden on Wednesday was transformative. A pathway for oil and gas drilling to be banned from public lands. A third of America’s land and ocean protected. The government ditching the combustion engine from its entire vehicle fleet, offering up a future where battery-powered trucks deliver America’s mail and electric tanks are operated by the US military.
Scientists have resolved a controversial but key climate change mystery, bolstering climate models and confirming that Earth is hotter than it’s been in at least 12,000 years, and perhaps even the last 128,000 years, according to the most recent annual global temperature data.
This mystery is known as the “Holocene temperature conundrum,” and it describes a debate that has gone on over how temperatures have changed during the Holocene, an epoch that describes the last 11,700 years of our planet’s history. While some previous proxy reconstructions suggest that average Holocene temperatures peaked between 6,000 and 10,000 years ago and the planet cooled after this, climate models suggest that global temperatures have actually risen over the past 12,000 years, with the help of factors like rising greenhouse gas emissions and climate change.
A new president took office this month determined to fight climate change. Wall Street investors think Tesla is worth more than General Motors, Toyota, Volkswagen and Ford put together. And China, the world’s biggest car market, recently ordered that most new cars be powered by electricity in just 15 years.
Climate change is exposing the tragedy of undervaluing resilience, ignoring systemic risks, and not investing up front. Changing consumer preferences and new climate policies mean that businesses need credible transition plans that show how they will seize opportunities in the transition to net zero—or, put simply, they will cease to exist.
Wednesday’s executive orders showed that Mr. Biden is taking climate change more seriously than any president before him. “This is the single biggest day for climate action in more than a decade,” Gene Karpinski, president of the League of Conservation Voters, told The Times.
Launched today, the MIT Climate and Sustainability Consortium (MCSC) convenes an alliance of leaders from a broad range of industries and aims to vastly accelerate large-scale, real-world implementation of solutions to address the threat of climate change. The MCSC unites similarly motivated, highly creative and influential companies to work with MIT to build a process, market, and ambitious implementation strategy for environmental innovation.
“Canada was at the top end of the group of countries we surveyed in terms of the recognition of the climate emergency,” said Steve Fisher, an Oxford University sociologist who helped run the survey on behalf of the United Nations Development Program. Canada also had the largest gap between men and women in their assessment of the importance of climate change. Canadian women and girls surveyed were 12 per cent more likely to rate it an emergency than men and boys. Globally, there wasn’t much difference.