Sustainability Notice #7 (25-31 July)

World, Heatwaves, Floods, Drought, Wildfires and Other Natural Disasters: US, Iran, Spain, UK, Mexico, Portugal, Morocco, Pakistan, Las Vegas, Israel and Latin America and Caribbean

‘Zoe’ Becomes the World’s First Named Heatwave (Source Link)

The world’s first named heat wave hit Seville, Spain, this week, pushing temperatures past 110 degrees Fahrenheit and earning the most severe tier in the city’s new heat wave ranking system. Heat wave “Zoe” has brought scorching temperatures to the southern part of the country for the last few days.

Climate change: Will naming heatwaves save lives? (Source Link)

Faced with increasingly dangerous and sometimes fatal temperatures, nearby Los Angeles is among the cities that is considering naming heatwaves - like storms - in a bid to raise public awareness of the dangers and help local officials roll out measures to mitigate the impact of extreme heat, such as opening air-conditioned shelters or activating a "heat action plan".

Kentucky: At least 25 dead in worst Appalachia floods for years (Source Link)

Devastating flash floods have killed at least 25 people in the Appalachia region of eastern Kentucky - the worst such disaster there for decades. Kentucky Governor Andy Beshear said he expected the death toll to continue.

Week-long Iran flooding leaves at least 80 dead and 30 missing (Source Link)

At least 80 people have been killed and 30 others are missing in floods that have wreaked havoc across Iran for more than a week, state media reported.

Drought, irrigation expected to drain 2 Colorado reservoirs (Source Link)

As severe drought spikes demand for irrigation water on the plains, Colorado Parks and Wildlife is dropping angler limits at the South Platte River-fed Jumbo Reservoir near Julesburg and the Arkansas River-fed Queens Reservoir north of Lamar. The agency expects both reservoirs to soon run dry and lose all fish.

Drought threatens Spain's 'green gold' harvest (Source Link)

Global warming is hitting Spain harder than most European nations. The country has suffered three intense heatwaves since May, damaging crops already grappling with an unusually dry winter.

Millions may face hosepipe ban after England’s driest July since 1911 (Source Link)

Millions of people could spend their summer under a hosepipe ban after parts of England recorded the driest July for more than a century. Water companies are warning they will have to implement drought measures if the conditions continue and there is not average or above-average rain in coming weeks.

Mexico declares drought in northern state of Nuevo Leon matter of 'national security' (Source Link)

Mexico declared the water shortage in the northern state of Nuevo Leon a matter of "national security" as the region has been crippled by a worsening drought in recent months.

Portugal faces worst drought on record (Source Link)

Portugal is experiencing the worst drought as 67.9 percent of its territory was in severe drought, 28.4 percent in extreme drought and the remaining 3.7 percent in moderate drought in June, said the Portuguese Institute for Sea and Atmosphere (IPMA).

Morocco steps up efforts to contain forest fires sweeping across north (Source Link)

Moroccan firefighters stepped up their efforts to contain forest fires, fanned by fierce winds, that are sweeping across the north of the country, according to local authorities.

Floods batter Pakistan, boats and helicopters deployed to evacuate people (Source Link)

Rescuers backed by troops used boats and helicopters to evacuate hundreds of marooned people from Pakistan’s southwest, where floods triggered by monsoon rains have killed 104 people.

Las Vegas hit with more rain overnight as city recovers from flood (Source Link)

One day removed from being hit with powerful storms that consumed casinos, airports, and parking lots, Las Vegas is still experiencing a soaked start to its weekend.

Jellyfish invasion: Climate change blamed as swarm swamps Israeli coast (Source Link)

A vast swarm of jellyfish has appeared off the coast of Haifa in Israel in recent days, turning beaches normally packed with summer bathers into no-go areas. Scientists say the phenomenon is a result of climate change and human impact on the marine ecosystem.

Environmental disasters slam Latin America and Caribbean ?(Source Link)

A report takes a look at the state of the Latin America-Caribbean region’s ecological systems, such as precipitation, sea levels, forest cover and agriculture. Between 2020 and 2022, officials say, the region went through 175 disasters, 88 percent of which originated from the weather, climate or the water.

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Countries: US, EU, Germany, France, UK, Kenya, China and Australia

US set to pass $369bn of climate spending after Manchin U-turn (Source Link)

After a dramatic U-turn from holdout Senator Joe Manchin, the US is set to pass a bill which includes $369bn in climate and energy spending. The Senate Democrats said the bill was “the single biggest climate investment in US history by far” and would put the US on track to reduce emissions by 40% on 2005 levels by 2030.

Here’s what’s in the Senate’s $369 billion for climate and energy (Source Link)

US Congress is on the verge of finally taking action to address some of the greenhouse gas emissions that are fueling the climate crisis. This week, after months of negotiations and false starts, Senate Democrats made a deal on a bill called the Inflation Reduction Act of 2022.

US set to fine oil and gas companies for methane leaks (Source Link)

A proposed US climate bill will introduce a charge on methane leaks from oil and gas facilities, believed by experts to be the first of its kind in the world.

Climate graphic of the week: US heat and drought coincide with historic climate bill (Source Link)

The most severe heatwaves in the US Pacific Northwest since the deadly 2021 records were set, and drought in almost half of the country, provided the backdrop to the historic $369bn bill to tackle energy security and climate change this week.

US drafts new speed limits on shipping to help save endangered whales (Source Link)

Vessels off the US east coast must slow down more often to help save a vanishing species of whale from extinction, the federal government said.

EU countries consider options to avoid carbon market fundraising plan (Source Link)

EU countries are considering alternatives to an EU plan to use a carbon market reserve to help finance their exit from Russian gas, as some fear the proposal would undermine the EU’s climate change policy.

EU energy ministers agree to cut gas use in the face of Russian supply disruptions (Source Link)

EU energy ministers greenlit a plan to reduce gas consumption and prepare for potential disruptions to Russian gas flows after a power struggle with the European Commission over who could implement mandatory targets.

Berlin monuments fall dark to save energy (Source Link)

Some 200 buildings and landmarks including Berlin's red-brick city hall, State Opera House and Charlottenburg Palace will fall in darkness at night, officials in the German capital said this week, switching off spotlights illuminating its historic monuments as part of a national effort to save energy in the face of Russian gas shortages.

Paris’ eco-friendly underground cooling system to become the largest in the world (Source Link)

The cooling system that keeps the Mona Lisa looking so unperturbed when Paris is roasting in the summer sun is being expanded to cope with ever more frequent heat waves. The little-known network underneath the French capital is Europe's biggest ‘urban cold’ system. Paris City Hall has now signed an ambitious contract to triple the size of this network by 2042 to 252 km - and make it the largest in the world.

Mayor of London unveils ￡3.1m urban tree planting funding package (Source Link)

London Mayor Sadiq Khan has launched a ￡3.1 million tree planting package as part of efforts to combat climate change in the capital.

Kenya launches 2050 Calculator to advance climate change mitigation (Source Link)

A consortium including Imperial College London researchers has created a bespoke energy and emissions model to help Kenya achieve its climate goals. The Kenya Carbon Emission Reduction Tool (KCERT 2050) allows users to trial options for reducing climate change-inducing carbon emissions at a faster rate and to build a pathway that meets long-term emission targets to 2050 and beyond.

China to issue principles for green bonds - Securities Times (Source Link)

China will issue principles for green bonds to build a unified criteria for domestic issuers, rushing to establish standards in a growing market in line with international norms, the official Securities Times.

Australia Moves to Enshrine Climate Targets into Law (Source Link)

Australia’s new government, in its first parliamentary session since the election in May of Prime Minister Anthony Albanese, introduced a bill that would for the first time set the country’s emissions reduction targets into law.

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World: UN, UNEP, Overshoot Day, Climate Funding Goal and Global Biodiversity Summit

UN General Assembly declares access to clean and healthy environment a universal human right (Source Link)

With 161 votes in favour, and eight abstentions*, the UN General Assembly adopted a historic resolution, declaring access to a clean, healthy and sustainable environment, a universal human right.

Statement by Inger Andersen on wildfires across Europe, North America and other parts of the world (Source Link)

Inger Anderson, Executive Director of The United Nations Environment Programme (UNEP): UNEP is deeply concerned about the loss of life and property, the impacts on human health, and the loss of nature…But now is not a ‘told-you-so’ moment. On humanity’s current course, global warming and land-use change are projected to increase extreme fires by up to 14 per cent by 2030, 30 per cent by the end of 2050 and 50 per cent by the end of the century.

‘Overshoot day’: humans surpass what Earth can produce in a year (Source Link)

Mankind marks a dubious milestone Thursday, the day by which humanity has consumed all Earth can sustainably produce for this year, with NGOS warning the rest of 2022 will be lived in resource deficit. The date — dubbed "Earth Overshoot Day" — marks a tipping point when people have used up "all those ecosystems can regenerate in one year", according to the Global Footprint Network and WWF. It would take 1.75 Earths to provide for the world's population in a sustainable way.

Rich countries fall $17bn short of 2020 climate finance goal (Source Link)

Rich countries have fallen almost $17bn short of their pledge to collectively deliver $100 billion of climate finance a year by 2020, according to the latest data by the OECD.

December global biodiversity summit at risk of failure (Source Link)

Rarely does a week go by without a new scientific study addressing the deteriorating condition of life on Earth. Globally, with more than 70 per cent of land and sea having already been significantly altered by humans, one million species are threatened with extinction.

Business, Renewables, EVs, Fossil Fuel and Recycling: UK, Vietnam, Bill Gates, Toyota, Nestle, Amazon, Shell, Unilever and Sprite

It's official: Renewables provided 40 per cent of Britain's electricity in 2021 (Source Link)

Almost 40 per cent of Britain's electricity was provided by renewable sources in 2021, making it the second highest year on record for clean power generation, the government has confirmed in its official annual energy statistics compendium.

Vietnam says AES Corp intends to develop $13 billion wind farm (Source Link)

U.S.-based energy utility AES Corp plans to develop a major offshore wind farm in Vietnam, the Southeast Asian country said, that could potentially double the country's wind power capacity. The wind farm, estimated to cost $13 billion and with a combined capacity of 4,000 megawatts.

Air conditioning is a climate disaster and Bill Gates is investing in this startup to fix it (Source Link)

Bill Gates’ clean tech investment fund, Breakthrough Energy Ventures, is leading a $20 million investment round in an air conditioning startup, Blue Frontier.

Toyota plans US$1.8 billion Indonesia investment to build electric vehicles (Source Link)

Toyota Motor Corp plans to invest US$1.80 billion in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia's economics ministry said. The Southeast Asian country aims to become a global hub for producing and exporting EVs through processing its rich supplies of nickel laterite ore for use in lithium batteries.

Nestlé Opens $340 Million Green Electricity-Powered, Zero Wastewater Coffee Factory in Mexico (Source Link)

Global food and beverage company Nestlé announced the opening of a new $340 million Nescafé coffee factory in Veracruz, Mexico, powered by clean energy and producing zero wastewater.

Amazon officially starts deliveries in custom Rivian electric vans (Source Link)

Amazon is officially starting deliveries in its new custom all-electric Rivian Electric Delivery Vehicle.

Shell sets up venture to build Shanghai hydrogen refuelling network (Source Link)

Shell will set up a joint venture with China's Shenergy Group to build a hydrogen refuelling network in Shanghai, the first of its kind for the European energy major in Asia. These 30 stations could supply hydrogen fuel to about 3,000 trucks or buses every day, Shell said in a statement.

Shell reports record profits of €11.3 billion as oil and gas prices soar (Source Link)

Shell posted record profits for a second straight quarter as the energy giant benefited from soaring oil and natural gas prices fueled by Russia's war in Ukraine. London-based Shell said its second-quarter adjusted earnings — which exclude one-time items and fluctuations in the value of inventories — rose to $11.5 billion from $5.5 billion in the same three-month period last year.

Unilever launches energy saving, plastic-free laundry capsule (Source Link)

Laundry capsule is specially designed for top performance in cold, short cycles. Consumers can save up to 60% energy per use. Capsule's GHG emissions are reduced by 16%1. Plastic-free2 cardboard packaging is set to prevent over 6,000 tonnes of plastic per year entering the waste stream.

Sprite Ends Use of Green Bottles to Boost Green Packaging (Source Link)

Sprite will be packaged in clear bottles, ending use of its iconic green design, as part of a series of moves by the Coca-Cola Company to improve the sustainability of its packaging.

Business, New Initiatives and ESG: Google, Global Coalition, Moody’s, Allfunds, Amundi, ESG Reports and Carbon Credits

Google, Singapore’s MAS Launch Climate Fintech Incubator Program (Source Link)

The Monetary Authority of Singapore (MAS), the central bank and financial regulator of Singapore, and Google Cloud announced the launch of the Point Carbon Zero Programme, a new initiative aimed at driving the innovation, incubation, and expansion of climate FinTech solutions in Asia.

Global Coalition Launches Plan for Sustainable Digital Transformation (Source Link)

The Coalition for Digital Environmental Sustainability launched an action plan that outlines three systemic shifts needed to leverage the power of digitalization to help create more sustainable and equitable societies and business models.

Sustainable Bond Volumes Outperform Broader Market to Reach Record Share: Moody’s (Source Link)

Sustainable bond issuance outperformed the broader market in the second quarter of 2022, reaching a record 15% of global total issuance, according to a new report from Moody’s ESG Solutions.

Allfunds Acquires ESG Investment Services and Analytics Provider Mainstreet Partners (Source Link)

B2B WealthTech platform Allfunds announced an agreement to acquire a majority stake in ESG investment solutions provider MainStreet Partners, aiming to enhance its capabilities with ESG services and analytics, and benefit from the growing sustainable investment market.

Amundi Expands “ESG Improvers” Investment Range with New Emerging Markets Fund (Source Link)

Leading European asset manager Amundi announced the launch of Amundi Funds Emerging Markets Equity ESG Improvers, extending its investment range targeting future ESG champions.

ESG Reports Aren’t a Replacement for Real Sustainability (Source Link)

Corporate leaders face conflicting signals on the need for environmental, social, and governance reporting. A predictable backlash against ESG investing has arrived, with right wing politicians attacking ESG investors for promoting what they see as a “woke” agenda, and the SEC cracking down on “ESG-washing” by asset managers.

Make polluters pay for climate adaptation, voluntary carbon market body proposes (Source Link)

The Integrity Council of the Voluntary Carbon Market, one of two bodies set up to address greenwashing concerns, launched a 60-day consultation to define “core carbon principles” for high quality carbon credits. An adaptation levy on carbon credits could raise up to $2.5bn a year by 2030, providing more predictable support for climate vulnerable countries

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Climate Activism: COP27 and Indian Tribes

Fears that Egypt may use Cop27 to whitewash human rights abuses (Source Link)

Before the Cop27 summit is due to start in Sharm el-Sheikh, a group of environmentalists and activists have expressed alarm over Egypt’s ability to host the event successfully because of its poor record on human rights, as thousands of prisoners of conscience remain behind bars.

Indian tribes fight to save forest homes from coal mining (Source Link)

More than 550 people travelled 300km on foot from Hasdeo to the state’s capital city Raipur, to demand cancellation of new coal mines.

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Research, Reports and Other: Investors, Tech Workers, Ten Financial Actors, Climate Disinformation, Fossil Fuel, US Emissions, EU, ESG, Climate Migration, Heatwaves, Solar Panels, Our Planet, Sustainable Cities, Cement, Water Companies and Sri Lanka

More Investors Vote Against Corporate Directors Over Climate Change (Source Link)

Investors are increasingly voting against the election of corporate directors to get companies they see as laggards on climate change to raise their ambitions. So far this year, investors have cited climate change as a reason for opposing the election of a management-backed director at 225 U.S. companies, up from 157 in 2021 and 83 in 2020, according to shareholder disclosures.

Why tech workers are quitting great jobs at companies like Google to fight climate change (Source Link)

Tech workers are walking away from high-paying jobs with great perks to help fight what they believe is the greatest existential problem of our lifetimes: climate change.

Ten Financial Actors Can Accelerate a Transition Away from Fossil Fuels (Source Link)

A 2020 analysis by Fossil Free Funds found that just 200 companies (known as the Carbon Underground 200 or CU200) own 98% of global oil, gas and coal reserves. This amounts to carbon stores three times greater than the total carbon budget for remaining below 1.5C of planetary heating.

Climate disinformation leaves lasting mark as world heats (Source Link)

The memo, later leaked to The New York Times that year, went on to outline how fossil fuel companies could manipulate journalists and the broader public by muddying the evidence, by playing up “both sides” of the debate and by portraying those seeking to reduce emissions as “out of touch with reality.”

The public relations and ad firms refusing fossil fuel clients (Source Link)

UN recognizes that the burning of fossil fuels is by far the largest contributor to climate change. It says that they account for "nearly 90% of all carbon dioxide emissions". the UN Secretary General Guterres said "some government and business leaders are saying one thing, but doing another".

US emissions cost the world $1.9 trillion in economic damages (Source Link)

The US has caused more damage to global economies than any other nation by burning fossil fuels, causing $1.9 trillion in lost gross domestic product between 1990 and 2014, according to a new study released by Dartmouth College.

Analysts raise EU carbon price forecasts, but downside risks remain (Source Link)

Analysts have raised their average price forecasts for EU carbon permits for 2022-2024 as high gas prices lead to more use of emissions-intensive coal for power generation, but they said weaker industrial output could curb demand.

Positive ESG performance improves returns globally, research shows (Source Link)

Stock funds outperformed across global markets over the last five years if they were weighted toward companies with positive environmental, social and governance (ESG) scores, research from sustainability data firm ESG Book shared exclusively with Reuters this month showed.

Climate migration growing but not fully recognized by world (Source Link)

Each year, natural disasters force an average of 21.5 million people from their homes around the world, according to the U.N. High Commissioner for Refugees. And scientists predict migration will grow as the planet gets hotter.

Climate Change Worsened Britain’s Heat Wave, Scientists Find (Source Link)

Record temperatures in Britain last week would have been "highly unlikely" without the influence of human-caused climate change, a new report by the Imperial College London has found.

Climate change made UK's record July heatwave 10 times more likely, scientists warn (Source Link)

The record-breaking UK heatwave of 18-19 July 2022 was made “at least 10 times more likely” by human-caused climate change, a new “rapid-attribution” study finds.

Heatwaves: why ethnic minorities in the UK are more vulnerable, and what to do about it (Source Link)

Temperatures in the UK recently breached 40°C for the first time in recorded history. An analysis by climate scientists revealed that the deaths can be directly attributed to anthropogenic climate change.

Explainer: How climate change drives heatwaves and wildfires (Source Link)

Europe, the US and China are all suffering heatwaves, which scientists say have been made more frequent and intense by climate change. The global average temperature is around 1.2C warmer than in pre-industrial times. As the climate continues to warm, heatwaves are set to get worse.

The Economic Realities of Heatwaves (Source Link)

These past few weeks, more than 100 million Americans were under heat alerts with record-breaking heat seen across much of the country and we are expected to see more. Extreme temperatures can affect worker productivity, infrastructure stability, energy costs, scheduling and more.

Is it just the heat, or does the concept of ‘uneconomic growth’ make a lot more sense now? (Source Link)

The concept of “uneconomic growth” has been advanced by the 84-year-old economist Herman Daly for much of his life; its premise, that fetishizing GDP growth as an all-important measure of our well-being can incur self-defeating costs like fatal pollution, or a raging climate crisis, only seems to become more topical.

Surging temperatures are good for solar panels, right? The answer is: It’s complicated (Source Link)

The scorching heat of the past few days may represent the ultimate sweet spot for solar photovoltaic systems. But solar power is not alone in being affected by the rising temperatures EU has experienced.

How our planet has changed over time (Source Link)

It can be challenging to visualize the effects of climate change when it happens over time and on such a large scale. However, NASA has been snapping images of the Earth from space for decades now. With these images compared over time, you can see the toll the warming of the Earth is taking on the planet.

To build sustainable cities, involve those who live in them (Source Link)

Cities have an important role in making progress on sustainability and climate change issues. And for them to achieve this, urban residents need to be involved in achieving set goals.

Three reasons concrete doesn’t live up to its environmental claims (Source Link)

Up to 8% of all global anthropogenic human-made emissions are due to just one material, cement. And our use of it is rising.

More drought leads to more investment in water companies (Source Link)

Five northern Italian regions have issued a state of emergency as rivers run dry, severe fires in the south of France, Spain and Portugal have raged out of control across tinderbox forests and historically low levels of water have been recorded in the Great Salt Lake in the US state of Utah; these are all signs that areas of the world are facing severe droughts as the climate emergency deepens.

Sri Lanka can’t afford fossil fuels but can’t afford to get off them either (Source Link)

Sri Lanka is in turmoil, with fuel and food shortages provoking citizens to storm the presidential palace and send Gotobaya Rajapaksa packing. Reliance on fossil fuel imports is a big factor in the economic crisis. Fuel prices spiking while tourism stayed in the doldrums led to the country running out of foreign currency, not helped by chronic fiscal mismanagement. That same economic crisis is now making it harder than ever for Sri Lanka to develop a renewable industry, energy experts say.