Sustainability Blog - The Grid
Bloomberg BNA — The Sustainability Accounting Standards Board (SASB) released June 25 voluntary guidelines for helping companies such as ConocoPhillips and Alpha Natural Resources report on how climate change regulations and other sustainability issues could affect their value in annual filings with the Securities and Exchange Commission.
The standards identify environmental and social issues that could have a material impact on shareholder value for companies in the nonrenewable resources sector, which includes oil and gas, coal operations, metals and mining, iron and steel, and construction materials.
Have you ever moderated a panel on the implementation of financial market reform in a hall streaming a blockbuster World Cup game?
Update: The U.S. advances despite 0-1 loss to Germany.
If the U.S. advances out of group play today, it will be the second World Cup in a row in which the team moves moves to the knockout round of 16. That would be a record for the red-white-and-blues.
Good afternoon! Here are today’s top reads:
- Climate forecast: A heat more deadly than the U.S. has ever seen (Bloomberg)
- On NC’s Outer Banks, scary climate-change predictions prompt a change of forecast (Washington Post)
- If poachers and illegal loggers strike, this forest phones it in (Scientific American)
- Plastic stones, melting snails: Three new ways to maim a planet (Rolling Stone)
- Crumbling U.S. grid gets jolt in smart Houston power system (Bloomberg)
- Taking effective action against the unstoppable (NY Times)
- Syngenta seeks ‘emergency’ exemption to use banned insecticide on U.K. crops (Guardian)
- How Denver is becoming the most advanced transit city in the west (CityLab)
- New report puts price tag on climate change in U.S. (Climate Central)
- What’s holding back impact investing? (Fast Company)
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It's easier for a camel to go through the eye of a needle than it is for a climate bill to move through the United States Congress.
That's why the Obama administration is threading its climate policy through the Environmental Protection Agency instead of Capitol Hill, where it tried and failed in 2010. And it's why a group called the Risky Business Project yesterday published a report for U.S. businesses and investors that converts the relentless conclusions of climate science into dollars, a currency much easier to understand.
It’s not the heat. It’s the humidity. And the U.S. is on a path to regularly experience a deadly combination of the two the likes of which have only been recorded once on planet Earth.
That’s one of the findings in a report published today called “Risky Business,” commissioned by some of America’s top business leaders to put price tags on climate threats. For example, by the end of the century, between $238 billion and $507 billion of existing coastal property in the U.S. will likely be subsumed by rising seas, and crop yields in some breadbasket states may decline as much 70 percent.
Bloomberg BNA — A Houston man who allegedly sold more than $29 million in fake renewable fuel credits to ConocoPhillips, Tesoro Corp., Citgo and other oil companies was indicted by the Justice Department on 68 charges, including wire fraud, money laundering and mail fraud.
Philip Joseph Rivkin sold about 45 million fake renewable identification numbers representing millions of gallons of non-existent biofuel to oil companies that were required to buy them under federal energy law, according to charging documents filed in the U.S. District Court for the Southern District of Texas June 19.
Bloomberg BNA — Defense Department spending on biofuels, electric vehicles, solar panels and other “green energy” programs advocated by the Obama administration would be prohibited under a $570 billion bill funding Pentagon operations for fiscal year 2015 that the House passed June 20.
The prohibition, adopted as an amendment to the Department of Defense Appropriations Act (H.R. 4870), restricts the DOD from complying with executive orders and laws that require it to “squander billions” of dollars on clean energy programs, according to its author, Rep. Tom McClintock (R-Calif.).
Americans like low taxes and cheap gas. So the idea of raising the federal gasoline tax should be, and generally has been, a double no-brainer. The levy per gallon hasn't budged in 20 years.
Two U.S. Senators upended this logic yesterday by calling for a 12-cent per gallon rise in the federal gasoline tax in the next two years. If the low-tax, cheap-gas orthodoxy continues to prevail, they argue, then the country will have to either borrow more money than it already does or stop building roads. Neither option sounds desirable to anyone who thinks the U.S.’s credit cards are already overdrawn. Or anyone who relies on highways for personal transportation or for the delivery of goods to nearby stores.