Climate Change

Kimberly Redmond | |

PepsiCo plans to reduce absolute greenhouse gas (GHG) emissions across its value chain by more than 40% over the next decade and is aiming to achieve net-zero emissions by 2040.

While the food and beverage giant previously aimed for net-zero emissions by 2050, the growing impact of global warming prompted executives to double down on its goal, the company said in a statement on Thursday.

Now, the Purchase, NY-based corporation seeks to reach net...

Reuters | |

The U.S. Environmental Protection Agency (EPA) on Monday said it was finalizing the first-ever proposed standards regulating greenhouse gas emissions from airplanes.

The EPA said its new requirements for airplanes used in commercial aviation and for large business jets would align the United States with international standards.

In 2016, the U.N. International Civil Aviation Organization (ICAO) agreed on global airplane emissions standards aimed at makers of small and large planes, including Airbus SE and Boeing Co, which both have backed the standards.

Reuters | |

Oil major Exxon Mobil Corp, under increasing pressure from investors and climate change campaigners, said on Monday it planned to reduce its greenhouse gas emissions over the next five years.

Last Thursday, the Church Commissioners for England joined growing investor campaigns to demand changes at Exxon and backed calls for a board refresh and development of a strategy for the largest U.S. oil company’s transition to cleaner fuels.

Several of Exxon’s rivals this year have set longer-term climate ambitions, including Royal Dutch Shell and BP Plc, which aim to reduce greenhouse gas emissions to net zero by 2050.

Reuters | |

Larry Fink, chief executive of the world’s largest asset manager BlackRock, said on Tuesday he backed the UK’s recent move to make the reporting of corporate risk related to climate change mandatory, and urged the United States to follow suit.

“We welcome the UK Chancellor’s announcement yesterday (of) mandatory TCFD reporting,” Fink told the Green Horizon Summit in London, referring to the Taskforce on Climate-Related Financial Disclosures, which will be required from large companies and financial institutions by 2025.

Also on Monday, the Financial Conduct Authority said premium listed companies would need to make the disclosures from January.

Reuters | |

WASHINGTON (Reuters) - Allstate Corp wants a potential Democratic administration to back a taxpayer-funded program that would pay for losses caused by the largest climate-change fueled natural disasters, the Illinois-based insurer's chief executive said.

Democratic presidential challenger Joe Biden was leading Republican incumbent President Donald Trump in electoral college votes on Wednesday evening, as the ballot count looked poised to stretch into a third day.

AP News | |

BERLIN (AP) — The United States on Wednesday formally left the Paris Agreement, a global pact it helped forge five years ago to avert the threat of catastrophic climate change.

The move, long threatened by U.S. President Donald Trump and triggered by his administration a year ago, further isolates Washington in the world but has no immediate impact on international efforts to curb global warming.

AP News | |

Deadly wildfires in California have burned more than 4 million acres (6,250 square miles) this year — more than double the previous record for the most land burned in a single year in the state.

California fire officials said the state hit the astonishing milestone Sunday with about two months remaining in the fire season. The previous record was set two years ago when wildfires destroyed 1.67 million acres (2,609 square miles). ...

Reuters | |

OPEC is unlikely to increase oil output as planned from January next year as it could mean adding more downside pressure to the already bearish and weak market, top traders said on Tuesday.

OPEC is due to taper their production cuts by 2 million barrels per day in January. OPEC and other major oil producers announced record oil cuts in March this year as fuel demand collapsed with half the world in some form of lockdown to stop the spread of COVID-19.

“I don’t think OPEC will increase production in January...If they do, the market will test them to the downside,” Pierre Andurand, founder and chief investment office at Andurand Capital, told the FT Global Commodities Summit.

Reuters | |

The U.S. Securities and Exchange Commission voted 3-2 on Wednesday to make it tougher for shareholders to push companies on issues such as climate change, social justice and diversity, with Democratic commissioners dissenting against the move.

The rule, first proposed last November, raises the bar on how long investors have to hold $2,000 worth of stock before they can submit a shareholder proposal to be included on the company’s annual ballot and how much support they must receive before resubmitting it.

The guidelines on how much support proposals must receive to be resubmitted have not changed since 1954.

Reuters | |

Some of the world’s biggest companies on Monday backed growing calls for governments to do more to reverse the accelerating destruction of the natural world and support broader efforts to fight climate change.

More than 560 companies with combined revenues of $4 trillion including Walmart, Citigroup and Microsoft signed up to a statement calling for action over the next decade.

The call comes as the United Nations prepares to ...