I’ve worked as a scientist in countries like Kenya, Brazil, and Mexico, studying nature’s ecosystems and how they provide our planet with life support free-of-charge. People recounted their struggle to survive as humanity undermines these systems one-by-one – stories that profoundly impacted my thinking. Then in 2009, I was part of the team that developed the world’s first science-based climate target methodology, leading to a movement now 1,000+ companies strong.
Today, I’m fortunate to be able to combine my love of science and storytelling at Netflix, where we aspire to entertain the world. But that requires a habitable world to entertain. And scientists around the world agree we need to stabilize the climate at no more than a 1.5ºC temperature rise to avoid the worst results of climate change – and ensure healthy life support systems for our children.
WASHINGTON — Up and down the coastline, rising seas and climate change are transforming a fixture of American homeownership that dates back generations: the classic 30-year mortgage.
Home buyers are increasingly using mortgages that make it easier for them to stop making their monthly payments and walk away from the loan if the home floods or becomes unsellable or unlivable. More banks are getting buyers in coastal areas to make bigger down payments — often as much as 40 percent of the purchase price, up from the traditional 20 percent — a sign that lenders have awakened to climate dangers and want to put less of their own money at risk.
Installing solar panels over California’s network of water canals could save the state an estimated 63 billion gallons of water and produce 13 gigawatts of renewable power every year, according to a feasibility study published in Nature Sustainability.
California moves more water than any other system in the world, with 75% of the state’s available water in its northern third and the southern two-thirds accounting for 80% of the state’s demand.
Covering the canals with solar panels would reduce evaporation by shading the canals from the sun (along with the co-benefit of reducing canal-choking plant growth) and the cooling effects of the water could boost solar panel efficiency.
Climate change is causing “lake heatwaves” to become more frequent, intense and long-lasting, a new study warns.
The research, published in Nature, finds that lake heatwaves could become between three and 12 times longer by the end of this century – and between 0.3C and 1.7C hotter.
The authors warn that, as lake temperatures increase, heatwaves of the past “will no longer be extreme and will become the new normal”. In some cases, even under a low-emissions scenario, there will be lakes that reach a “permanent heatwave state” by the end of the century.
The report outlines nine options for central banks to adjust their operational frameworks for monetary policy to account for climate-related risks.
The NGFS (Network for Greening the Financial System), a group of 89 central banks and financial supervisors formed to support the Paris climate goals, has published a report outlining nine options for central banks to factor climate-related risks into their monetary operations.
“Under all possible scenarios, climate-related risks will have consequences for the economic outlook, for the financial system in which central banks operate and, thus, for the conduct of monetary policy,” the report says. “The timing and severity of these consequences depend on how swift and effective transition policies are.”
Opinion: Pay for Biden’s $3 trillion infrastructure plan with a carbon tax
BETTER LATE than never: The American Petroleum Institute, accepting the reality of climate change and the need to do something about it, has officially called for government to set a price on carbon emissions. We can’t help but wonder how much better off the planet might be if the API had come to this position sooner. What seems most important now, however, is the fact that, given similar previous statements from the Business Roundtable and U.S. Chamber of Commerce, the API’s new stance creates a broad private-sector front. Though the API and the other business groups aren’t using the precise words “carbon tax,” the language of their proposals makes clear that it would be acceptable.
From 2022, the largest 1,000 Indian public companies will be required to disclose a suite of granular sustainability performance metrics relating to strategy, human capital, ESG risks, business conduct, supply chain due diligence and community relations
Climate change could slash credit rating of 63 countries, raise cost of debt
Alexis See Tho
The sovereign credit ratings of many countries could be downgraded as early as the next ten years if current levels of carbon emissions continue, increasing the cost of government and corporate debt globally, recent research led by the University of Cambridge revealed.
The economy is healing, the nation’s top two economic officials told lawmakers on Tuesday, but workers and businesses will need continued government support to rebound from the pandemic — and one of the officials, Jerome H. Powell, the Federal Reserve chair, batted back concerns that vigorous policy help could stoke inflation.
This commentary is part of a series on emerging issues from Adaptation Leader.
The Taskforce on Climate-related Financial Disclosures (TCFD), an initiative of the influential Financial Stability Board (FSB), offers a framework for disclosure of climate risks. Despite the generally positive response and resulting buzz, in particular among advocates for climate action by businesses and those wanting to get on the bandwagon, the uptake of TCFD disclosures has been slower than its proponents had hoped.