Is Climate-Related Financial Regulation Coming Under Biden? Wall Street Is Betting on It (excerpt): Inside Climate News

President-elect Joe Biden delivers remarks about the U.S. economy

 during a press briefing at the Queen Theater on Nov. 16, 2020

 in Wilmington, Delaware. Credit: Joe Raedle/Getty Images

 "The president-elect has said he would require publicly traded companies to disclose emissions and financial risks associated with global warming.

The White House may not be preparing to transition to a Biden administration, but Wall Street is.

While President Trump and other Republican leaders continue to dispute the election results, the financial sector is moving ahead with plans to begin the transition to a carbon-free economy and acknowledge a new administration that’s eager to tackle the climate crisis.

Investors are increasingly putting their money into funds geared toward either excluding the fossil fuel industry entirely, or underweighting high-carbon companies in their mix. 

A growing number of major banks and other money managers have committed to net-zero emissions by 2050 and have pledged to disclose

exactly how their finances contribute to climate change, as well as which of their assets are at risk from its impacts. And last week, the U.S. Federal Reserve said for the first time that failing to address climate change would put the nation’s finances at risk and its economy at a global disadvantage.

For years, analysts have been saying that the global economy is shifting away from fossil fuels and toward renewable energy, with or without the United States. Clean energy saw an expansion this year despite a global drop in energy demand because of the pandemic, the International Energy Agency said last week, and renewables are likely to expand nearly 50 percent by 2025.

Now, as President-elect Joe Biden prepares to take office in January, global finance leaders are again calling on the United States to provide some kind of federal guidance for companies in regard to climate change, especially as other parts of the world begin taking major regulatory action.

Last week, the United Kingdom announced that within five years, all major companies and financial institutions doing business in the country would be required to measure and disclose their climate risks and greenhouse gas emissions—a move met with wide support from the financial industry."

 Link to complete Inside Climate News story by Kristoffer TigueNovember 20, 2020

 

Related: Big batteries are getting bigger and smarter, and doing things fossil fuels can’t do (excerpt): RenewEconomy

 

 

 

 

Photo & Video: Climate Justice Activists Conclude 24-Hour Occupation at Dnc, Demand President-Elect Biden Be Brave (excerpt): Common Dreams

"WASHINGTON - A coalition of grassroots groups, Black, Indigenous, and Brown leaders from across the nation occupied the Democratic National Committee Headquarters in Washington for 24 hours to demand that President-Elect Biden and his administration follow through on a bold agenda to address the climate crisis. They were joined at an afternoon rally by members of Congress who are leading the effort in the House and Senate to hold the incoming administration to its promises. 

The occupation was led by youth, movement leaders, frontline activists, and artists collectively representing a range of identities and communities confronting the interlocking crises in front of us. For 24 hours, the group marched, created art, and called on Biden to live up to his mandate to invest in Black, Indigenous, Brown, and working-class communities. 

Photos and videos from the event, including speeches from frontline leaders and progressive allies in Congress, are available at: https://media.greenpeace.org/collection/27MDHUS546A 

As Jennifer K. Falcon of the Indigenous Environmental Network put it: “We are beyond the tipping point with climate chaos. We must act quickly to mitigate the climate chaos we are experiencing for the sky, land and water. The people demand President-elect Biden move to a just transition centered in Indigenous knowledge so that Mother Earth can heal. We can't afford to continue to fight climate change with false solutions and carbon mechanisms that allow big polluters to pollute. It's time to divest from fossil fuels and invest in a regenerative economy that allows us to thrive.” ..."

See complete Common Dreams article

Related:  Trump gutted environmental protections. How quickly can Biden restore them? (excerpt): GRIST

Trump gutted environmental protections. How quickly can Biden restore them? (excerpt): GRIST

President Donald Trump hands coal miners the pen he used to sign a bill eliminating

 regulations on the mining industry in the Roosevelt Room at the White House in Washington, 

D.C. Nicholas Kamm / AFP / Getty Images

Just a month before he won the U.S. presidential election in 2016, Donald Trump vowed to spend his time in office systematically slashing government rules. “I would say 70 percent of regulations can go,” Trump told a crowd of town hall attendees in New Hampshire. “It’s just stopping businesses from growing.”

Now, four years later, it looks like Trump did his best to keep those promises. Over the course of his term, Trump has erased or watered-down dozens upon dozens of regulations designed to keep pollutants out of the water, air, and soil. He has allowed oil and gas companies to leak planet-warming methane into the air. He has told power plants that they can keep emitting dangerous levels of carbon dioxide. If all those rules stand, according to one analysis, they will be responsible for 1.8 billion metric tons of additional greenhouse gas emissions by 2035.

With President-elect Joe Biden preparing to move into the White

House in January, this anti-environment era is about to come to an end. Biden has promised to re-enter the Paris Agreement, prioritize climate change across the federal government, and push for sweeping clean-energy legislation. But putting the most ambitious plans in place will prove especially difficult if Republicans keep control of the Senate. (Democrats will have one more chance to recapture the chamber in two Georgia runoffs, though they’re facing tough odds.)

 See complete Grist article 

 

Related:  Politicians Try to Rally Support for Coal Despite Economics and Biden Presidential Win (excerpt): DeSmog

 

#climatecriminals, Trump, #fossilfuelcompanies, fossil fuel industry, Biden,

 

 

What is the Climate 21 Project?

 

• Menu

The Climate 21 Project taps the expertise of more than 150 experts with high-level government experience, including nine former cabinet appointees, to deliver actionable advice for a rapid-start, whole-of-government climate response coordinated by the White House and accountable to the President.

The memos below contain the Climate 21 Project’s recommendations for 11 White House offices, federal departments, and federal agencies, as well as cross-cutting recommendations on personnel and hiring.

Importantly, the Climate 21 Project is not offering a policy agenda. Rather, the memos below contain

 recommendations that can help the President hit the ground running

 and build the capacity of his administration to tackle the climate crisis quickly with the existing tools at hand.

The recommendations are focused in scope on areas where the contributors have the most expertise. An all-of-government mobilization on climate change will require important work by additional federal departments and agencies that were not examined by the Climate 21 Project.

Go to https://climate21.org/

"A team of former Obama administration officials and experts have created a 300-page blueprint laying out a holistic approach to the climate while avoiding some of the pitfalls that hampered President Barack Obama, who shared some of the same goals but was unable to enact all of them. Dubbed the Climate 21 Project, it took a year and a half to develop and was delivered recently to Biden’s transition team. The document outlines how the incoming administration could restructure aspects of the government to move faster on global warming." Washington Post

Related: The 40 Things Biden Should Do First on Climate Change (excerpt): Bloomberg Green

The 40 Things Biden Should Do First on Climate Change (excerpt): Bloomberg Green

 

Randolph Bell, Director for Global Energy Security, Atlantic Council

Take care of fugitive methane emissions.

“Failing to fully address methane leakage is increasingly a risk for the climate and for the U.S. economy. Methane makes up at least 10 percent of U.S. greenhouse gas emissions—recent analysis suggests far more—and is at least 25% more potent at trapping heat than carbon dioxide. With natural gas projected to play an important role in the global energy system even under aggressive decarbonization scenarios by providing low-carbon power in the developing world and feedstock for hydrogen production (with carbon capture and storage), addressing methane is crucial for meeting climate goals.”

“The U.S.’s methane problem has the attention of major oil & gas producers, who decried the Trump Administration’s August reversal of an Obama-era rule on methane. Engie’s decision last month, under pressure from the French government, to delay its $7 billion deal with U.S. LNG company NextDecade because of U.S. methane emissions underscores the risks to the U.S. economy.”

“President-elect Biden can immediately direct the EPA to initiate a new rulemaking process to ensure that industry monitors and addresses leaks in new equipment, as Obama’s rule did. Biden can also be more ambitious and address leaks in older equipment, an effort that was not completed under Obama.” —As told to Akshat Rathi

 

Go to complete Bloomberg Green story 

 

Related: Preparing for climate refugees

Anxiety Mounts Abroad About Climate Leadership and the Volatile U.S. Election (excerpts): InsideClimate News

"VIENNA, Austria—Whenever artist Michael Aschauer returns home after an extended stay in the United States, people here pepper him with questions about the direction America is heading. 

With gallows humor typical of the city, they often ask, "Will it fall apart slowly, or very fast?" he said, adding that Vienna has plenty of experience with how rising and falling empires can destabilize global systems.

Aschauer is married to an American and keenly watches climate and energy politics on both sides of the Atlantic while trying to imagine a post-carbon future. In an informal social media art project, he documents gas stations that have been abandoned or converted to other uses. 

He said it's hard to imagine that Americans would re-elect the

incumbent president, but that it can't be ruled out, either, given the current volatility of U.S. politics. "The outcome will have profound consequences for the future of Earth's climate," he added.

Carbon budgets detailed in recent climate reports show that four more years of pro-fossil fuel policies in the U.S. would make it much harder for the world to reach the Paris climate agreement goal of preventing catastrophic global warming, he said. On the other hand, Biden's decarbonization plan would accelerate demand for renewable energy in the world's biggest consumer economy and speed the global shift to a zero-carbon economy. "

.................

"Debate Debacle

But it's not all fear and loathing—people here say they feel a cultural, social and economic affinity with the U.S. And the interest is even more intense this year, after extensive international media coverage of the escalating cycle of police violence and destructive protests, as well as wildfires, hurricanes, the botched pandemic response and potential election chaos all painted a picture of a country in turmoil. 

Last week's presidential debate reinforced global concerns about the direction of the U.S., said Reimund Schwarze, an environmental economist with the Helmholtz Centre for Environmental Research in Germany. Trump's recent statements questioning the legitimacy of the election process raise the specter of widespread unrest, he said."   "

................................

"  "From what I see in the Democratic Party, there is a lot of movement, a lot of mobilization from the other side." Even with time running short for meaningful climate action, he said, there is a hopeful scenario that a generational shift in politics in the U.S. could upend the political landscape for many years to come, leading to fundamental changes in U.S. policy. 

All over the world, people are waiting in suspense to see if Nov. 3 marks the start of that shift.

"I don't want to put any pressure on anyone," Austrian ecologist Sarah Höfler posted on Twitter recently, "but the American election will, in my opinion, decide whether humanity has still a chance in the #ClimateCrisis. It is as simple as that."  "

Go to complete story by Bob Berwyn in InsideClimate News

Related: America's year of fire and tempests means climate crisis just got very real (excerpt): Guardian

 Pics from this blog

 

Trump,Biden,#climateaction,voters,#USA,European Union,#jailclimatecriminals, 

Joe Biden if president will push allies like Australia to do more on climate, adviser says (excerpt): The Guardian

Biden

Jake Sullivan says the former vice-president, if elected, won’t ‘pull any punches’ on what is a global problem

Joe Biden will not pull any punches with allies including Australia in seeking to build international momentum for stronger action on the climate crisis, an adviser to the US presidential candidate has said.

"If elected in November, Biden will hold heavy emitters such as

Biden and Harris

China accountable for doing more “but he’s also going to push our friends to do more as well”, according to Jake Sullivan, who was the national security adviser to Biden when he was vice-president and is now in the candidate’s inner circle.

In a wide-ranging podcast interview with the Sydney-based Lowy Institute, Sullivan also signalled that Biden would work closely with Australia and other regional allies in responding to the challenges posed by the rise of China.

While Australia’s prime minister, Scott Morrison, is likely to welcome the pledge of US coordination with allies on regional security issues, there may be unease in government ranks about the potential for tough conversations about Australia’s climate policies.

The Coalition government has resisted calls to embrace a target of net-zero emissions by 2050 and it proposes to use Kyoto carryover credits to meet Australia’s 2030 emission reductions pledge. Some Coalition backbenchers still openly dispute climate science......"

Pics are from this blog

Go to The Guardian article   

by Daniel Hurst

Mon 7 Sep 2020

Related:The Federal Government’s plan to use clean money to fund dirty projects - Video: The Climate Council



Biden, Harris, Trump, PM Morrison, #cambio-climatico, #climateaction, #Australia, #climateemergency,

Trump and Biden: Little Room for Climate Change in 2020 Election (excerpt 2): Deutsche Welle

Trump digs coal.

(Pics by this blog)

"U.S. President Donald Trump has undone many major pieces of climate policy during his term, walking out on the 2015 Paris Agreement to limit global warming and eliminating numerous Obama-era environmental regulations. 

 Trump's Democratic opponent, Joe Biden, has promised as part of his presidential campaign to invest $1.7 trillion in a "clean energy revolution and environmental justice" over the next decade. It falls some $14 trillion short of what the progressive U.S. senator from Vermont, Bernie Sanders, pledged on climate action during the Democratic primaries.........................."

...............................................................................................................................................................

Related:  Trump will roll back more environmental regulations if reelected, says EPA chief: CNBC
..........................................................................................................

"......  Growing Impatience Among Young Republicans

Some younger Republicans are starting to become critical of their party's inattention to climate change. During the recent Republican National Convention, a small group turned to Twitter during the online event, to ask "#WhatAboutClimate"?

Another Pew study from June 2020 found that millennial and Gen Z Republicans, currently aged 18 to 39, are more likely than older GOP voters to think humans have a significant impact on the climate and that the federal government is doing too little to tackle the problem.

Trump and climate

That doesn't mean they're ready to switch allegiance to the Democrats, though. 

"Being a Republican is very much rooted in my upbringing," said Kiera O'Brien, who founded the group Young Conservatives for Carbon Dividends (YCCD). "Conservatism at home in Ketchikan, Alaska, has a focus on community and nature." 

O'Brien dislikes the Democrat's "regulatory approach to climate" and is instead lobbying for free market solutions to climate change through YCCD.

Biden and climate change

Reframing Climate Action  

Environmental policies can be a complicated issue when it comes to federal elections and hard to address for presidential candidates. Many regions in the U.S. have unique challenges: from wildfires in California and storms wiping out harvests in Iowa to water pollution in Flint, Michigan.

Harvard's Ansolabehere also pointed out that opposition to climate policies in the past were typically connected to the fear of losing jobs and that prohibiting coal or retooling the auto industry will "adversely affect employment" in places like Kentucky and Michigan.

How Climate Change is Killing Us: Book

Daron Shaw added that Republicans typically "try to frame environmental issues as a matter of high taxation and job killing proposals with the hope that they can peel off Democrats."

Biden might be trying to assuage fears that tackling climate change means job losses by framing his plan as an opportunity for employment in new industries and a reinvigorated green manufacturing sector.

But when it comes to the swing states of Pennsylvania, Virginia and Ohio, Trump's climate record and support for jobs in the fossil fuel sector might give him the upper hand. His backing for ethane cracker plants, which take natural gas and converts it into the basis for making plastics, has received a lot of support, said Ansolabehere, especially from local unions. 

Go to original article.. By Julia Mahncke in Deutsche Welle 

The last generation who can do something about climate change

Related:  Trump will roll back more environmental regulations if reelected, says EPA chief: CNBC

Biden, Trump, #climateaction, Republicans, #methanegas, jobs, Paris Targets, Paris Agreement, 

‘Climate Donors’ Flock to Biden to Counter Trump’s Fossil Fuel Money (excerpt): New York Times

(Pics by this blog)

Koch Industries are behind Trump

WASHINGTON — In 2009, the Obama administration’s environmental team called a group of climate activists to the White House to deliver a message: Climate change doesn’t sell and only provokes economic attacks from the right that are too difficult to counter.

As former Vice President Joseph R. Biden Jr. prepares to assume the Democratic Party’s presidential nomination, the changing climate is now a core campaign issue — and a focus for fund-raising. Plans for tackling rising global temperatures will be in the spotlight Wednesday at the Democratic convention. And Mr. Biden has raised more than $15 million in candidate contributions from hundreds of new donors who specifically identify with climate change as a cause.

Biden: Build Back Better

That climate-specific fund-raising may make up just about 5 percent of the total he has raised so far. It’s dwarfed by fossil fuel donations to President Trump, who took in $10 million from a single fund-raiser in June, held by the oil billionaire Kelcy Warren, and whose super PAC,America First Action, has seen millions pour in from coal and oil moguls, according to the Center for Responsive Politics, which tracks campaign donations.

It is not known how much unregulated money is going to super PACs aligned with Democrats from other self-identified climate donors.

But the hard money climate donations represent a growing counterweight to oil, gas and coal money that has long warped the

Biden and Harris at first joint campaign event.

energy conversation in Washington. Self-identified “climate donors” are a new phenomenon in the 2020 election and are working overtime to show candidates that campaigning to eliminate emissions from fossil fuels pays — in cash.

“That is a sea change. We’ve now got a class of people called ‘climate donors’ in a way we had environmental donors before,” said David Bookbinder, general counsel for the Niskanen Center, a nonpartisan think tank in Washington.

Trump's environmental rollbacks

“Climate has taken over as an issue on its own. People are finally understanding that we have a truly existential crisis on our hands,” Mr. Bookbinder added. Publicly embracing climate change solutions was viewed as a political liability, as recently as a decade ago, he said. During Barack Obama’s re-election run in 2012, the issue was hardly mentioned.'

Now donors are sending a new message: “We want to make it easy to do the right thing. We should reward campaigns and candidates for having the right policies,” said Matt Rogers, a co-founder of the digital thermostat company Nest."  ............

"A version of this article appears in print on

By Lisa Friedman

• Aug. 18, 2020

Aug. 19, 2020"

Go to complete NYT online article

Related:  Trump will roll back more environmental regulations if reelected, says EPA chief: CNBC

 Trump, Biden, Harris, #climatechange, fossil fuel industry, Koch brothers, political party donations from corporations, Democrats, Republicans, #jailclimatecriminals

Trump and Biden: Little room for climate change in US election (excerpt): DW

The White House

As the US faces wildfires and storms, climate change remains one of the most divisive topics among voters. Yet despite the high stakes, so far, it has played a minor role in the upcoming election. 

US President Donald Trump has undone many major pieces of climate policy during his term, walking out on the Paris Agreement to limit global warming and eliminating numerous Obama-era environmental regulations. 

However, climate change doesn't even make the top 10 concerns among registered voters, even as the US faces extreme weather from wildfires to storms, scientists say are more prevalent by global warming. It ranks 11th behind the economy, health care, Supreme Court appointments and the pandemic, according to a survey conducted by the Pew Research Center published in August. 

While climate doesn't top the voters' agenda, it's still one of the most divisive issues among Trump and Biden supporters. Some 68% of Democratic voters see climate change as high priority compared to 11% of Republicans, found the Pew survey. 

Following a storm in Iowa last month, estimates suggested that almost a third of the state's crop-growing land was affected

Wildfires are becoming more frequent in California, where the ground and vegetation has suffered from long, dry summers

But what are the Biden and Trump campaigns promising to do on climate change and the environment — and how does it tally with what voters want?

Go to complete DW article

 Related: Donald Trump is hampering fight against climate change, WEF warns (excerpt) : The Guardian (2 years ago)

Trump, Biden, #USA, USA, voters, #climate crisis, #climatecriminals, #jailclimatecriminals,