ESG Insider: New humanitarian report highlights growing risk of extreme heatwaves
S&P Global Sustainable1
Your Single Source of Essential Sustainability Intelligence
A new report out this week highlights how extreme heatwaves tied to climate change are on the rise and could lead to large-scale suffering and loss of life, especially in North Africa, South Asia and South-West Asia.
Extreme heat also threatens to weaken agriculture and livestock systems, degrade natural resources, damage infrastructure and contribute to population migration, said the report jointly published by the United Nations Office for the Coordination of Humanitarian Affairs and the International Federation of Red Cross and Red Crescent Societies.
While some measures such as advanced warning systems can help communities adapt to these heatwaves, the report found that "the single most important arena for action is in slowing and stopping climate change." For example, about 420 million fewer people would be regularly exposed to extreme heatwaves if the world limits global warming to 1.5 degrees C relative to preindustrial levels compared to warming of 2 degrees C.
But the world is far from getting emissions under control. Our chart of the week from S&P Global Commodity Insights shows that while fossil fuel emissions fell sharply in 2020, coal and natural gas emissions since have been higher than pre-pandemic levels. By 2023, fossil fuel combustion emissions are on course to exceed 2019 levels in 2023.
In this week’s newsletter, we look at how U.S. utilities are already moving to take advantage of the new tax benefits for renewables that were included in the recently enacted Inflation Reduction Act. We hear from an official with the cloud-based software company Salesforce about its new carbon credit marketplace, and we hear how Dutch lender ING Groep NV is handling its low-carbon commitments in the face of Europe's energy crisis.
In our weekly podcast, we bring you Part 2 of our on-the-ground coverage from Climate Week NYC, where we heard experts talk about balancing efforts to achieve net zero and energy transition goals while also accounting for how that work impacts nature and society.
Chart of the Week??
Emissions from fossil fuel combustion
Utilities taking up new tax tools in US climate package to finance renewables
U.S. utilities are already moving to take advantage of the new benefits of transferring clean energy extended investment tax credits and new production tax credits contained in the recent federal climate package. But experts expect the traditional tax equity market for financing renewable projects will remain robust.
Energy crisis not impacting fossil fuel policies, net zero plan – ING CEO
Europe's energy crisis has made banks' efforts to reach net zero emissions by 2050 even more challenging. But Dutch lender ING Groep NV remains committed to its transition strategy, which includes the withdrawal of dedicated financing to new oil and gas fields and growing its sustainable financing offerings, according to CEO Steven van Rijswijk.?
UN aviation agency targets net-zero air travel emissions by 2050?
The United Nations aviation agency on Oct. 7 passed a resolution targeting net zero emissions from air transport by 2050, marking the first international pledge to fully offset the carbon-intensive industry. The resolution aligns the air travel sector with the Paris Agreement on climate change for the first time, as aviation and shipping were not directly included in the landmark deal.
Salesforce exec looks to lead sustainability push with carbon credit marketplace
Looking to give buyers a secure space to purchase third-party-rated carbon credits, Salesforce Inc. plans to launch its Net Zero Marketplace this month. S&P Global Market Intelligence spoke with Patrick Flynn, Salesforce's senior vice president and global head of sustainability, about the challenges of working to mitigate climate change, as well as Salesforce's efforts to make carbon offsets more accessible to merchants and enterprises of all types.
ESG Insider Podcast
领英推荐
In this episode of the ESG Insider podcast, we bring you Part 2 of our on-the-ground coverage from Climate Week NYC, where we heard experts talk about the delicate balancing act required to achieve net zero and energy transition goals while also accounting for the impacts on nature and society. We talk to the CEO of nonprofit Just Capital, Martin Whittaker, who explains why environmental and social issues cannot be considered in isolation. We hear from Dr. Jane Carter Ingram, Executive Director of the climate change investment and advisory firm Pollination Group. And we talk to Matt Ellis, CEO of Measurabl, a company that tracks the physical and transition risks of climate change for the commercial real estate sector.
Listen on SoundCloud
Listen on Spotify
Listen on Apple Podcasts
?
Upcoming Events
S&P Dow Jones Indices - Oct. 12, Online
S&P Global Sustainable1 - Oct. 12, Online
?
S&P Global Sustainable1 - Oct. 13, Online
?
Environmental Finance - Oct. 17, London
?
European Union - Oct. 28, Online
United Nations - Nov. 7-18, Sharm El-Sheikh, Egypt
Reuters - Nov. 22-23, London
Corporate Sustainability/ESG Consultant, Professor Associado na FDC - Funda??o Dom Cabral, Advisor Professor at FDC
2 年Sharing in Linkedin group "Realidade Climatica/Climate Reality - Brazil" - linkedin.com/groups/8196252/