The net impact of Internet use | Alan Pears for Renew Magazine

Alan Pears would like you to know that your Zoom meeting is not, in fact, going to destroy the planet. All the CO2 that’s already in the atmosphere, however...

I get a bit tired of repeated, breathless articles “exposing” how almost every action that helps our transformation towards a low-carbon, advanced global economy is actually a problem. Nothing is perfect, but a lot of changes are positive—if they are well-managed.

For example, I often hear expressions of concern about the carbon (and broader) environmental impacts of digitalisation. The International Energy Agency has looked at this issue and found that, overall, the net benefits of digitalisation (through energy savings and productivity improvements) usually far outweigh the impacts.

The graph here provides insights into the worst-case environmental impacts of some internet apps, but it doesn’t put them into context. For example, an hour spent on Zoom generates less CO2 than driving a car a kilometre. Avoiding a five-kilometre car trip cuts emissions by more than a two-hour, “worst case” Netflix video.

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‘Black Wednesday’ for big oil as courtrooms and boardrooms turn on industry | The Guardian

The world’s patience with the fossil fuel industry is wearing thin. This was the stark message delivered to major international oil companies this week in an unprecedented day of reckoning for their role in the climate crisis.

In a stunning series of defeats for the oil industry, over the course of less than 24 hours, courtrooms and boardrooms turned on the executives at Shell, ExxonMobil and Chevron. Shell was ordered by a court in The Hague to go far further to reduce its climate emissions, while shareholder rebellions in the US imposed emissions targets at Chevron and a boardroom overhaul at Exxon.

Wall Street Rebels Against Exxon | NYTimes

Exxon Mobil suffered a stunning loss at its annual shareholder meeting yesterday, as a small new activist investor focused on climate change, Engine No. 1, won at least two seats on its 12-member board. To corporate America, the upset was a clear sign that company boards and leaders need to pay attention to environmental, social and governance issues (known as E.S.G.) — or suffer rebukes.

The bell has tolled for the fossil age: Why net zero makes us all richer | SMH

Net zero does not cost jobs: it replaces 5 million lost in oil, gas and coal with eight times as many jobs for engineers, electrical experts, offshore operators, solar technicians or lithium miners, whether directly or indirectly.

It does not raise energy costs: it cuts the average bill for households on heating, cooling, electricity, and car fuel from $US2800 ($3630) to $US2300 ($2980) a year by 2030 in advanced countries. The energy share of disposable income halves from 4 per cent to 2 per cent by mid-century. It is tantamount to free energy.

Averting Climate Crisis Means No New Oil or Gas Fields, IEA Says | Bloomberg

That’s the bold assessment from the International Energy Agency, the organization that has spent four decades working to secure oil supplies for industrialized nations. In its new road map for achieving net-zero global carbon emissions by 2050, the IEA laid out in stark terms what the planet must do to avoid harmful the climate change -- and just how far that is from our current reality.

Twenty firms produce 55% of world’s plastic waste, report reveals | The Guardian

ExxonMobil is the greatest single-use plastic waste polluter in the world, contributing 5.9m tonnes to the global waste mountain, concludes the analysis by the Minderoo Foundation of Australia with partners including Wood Mackenzie, the London School of Economics and Stockholm Environment Institute. The largest chemicals company in the world, Dow, which is based in the US, created 5.5m tonnes of plastic waste, while China’s oil and gas enterprise, Sinopec, created 5.3m tonnes.

‘Big mountain to climb’: Macquarie chief says Australia behind on EV transition | Sydney Morning Herald

Macquarie Group chief executive Shemara Wikramanayake says Australia is trailing the world on electric vehicles after the investment powerhouse reported a record full-year profit and outlined a bold plan to accelerate its push into green financing.

Ms Wikramanayake said Australia was at an earlier stage than other markets on the transition to electric vehicles and called on industries with large transportation fleets, such as the mining sector, to convert.

Biden’s First 100 days: A Climate Resilience Appraisal | Triplepundit

It’s encouraging that the new president’s climate action strategy includes important and valid emphasis on climate change mitigation. He has spoken favorably about decreasing greenhouse gas emissions primarily through increasing investments in renewable power, while increasing regulations to direct the private sector toward more efficient technologies and operations. Nevertheless, to connect this strategy to apply to all Americans, the White House must emphasize climate resilience. So far, the administration’s policies are trending in a positive direction.

Go for net zero: A practical plan for reliable, affordable, low-emissions electricity | Grattan Institute

Australia can achieve a net-zero carbon emissions electricity system without threatening affordability or reliability of supply.

It’s a myth that Australia needs to continue to rely on coal-fired power stations to keep electricity bills down.

But we should not rush to 100 per cent renewable energy, because ensuring reliability would be costly – especially in the depths of winter in the southern states when electricity demand is high, solar supply is low, and persistent wind droughts are possible.

A guide to the TCFD

The casualties of the climate crisis could include financial stability, the global economy, and the value of investments. As governments catch up to the realities of climate change and the policy response continues to gather pace, global markets need transparency into the financial impacts of climate change on companies.

‌The Task Force on Climate-related Financial Disclosures (TCFD) released their recommendations in 2017 to improve and increase reporting of climate-related financial information. Today, 2,000+ organizations support TCFD, including 110+ regulators and government entities across 78 countries.

Why read this guide?

It outlines the benefits of climate reporting to firms such as yours, and explains how companies and regulators are implementing the TCFD recommendations.

Firms implementing the recommendations are able to:‌

• Efficiently identify climate-related opportunities and risks

• Proactively address investors' demands for climate-related information in a framework that investors are increasingly asking for

• More effectively meet current requirements to report material information in financial filings

• Enhance risk management and strategic planning, through better understanding of climate risk‌.

Bloomberg has created this guide to help you better understand the benefits of implementing the TCFD recommendations.

New US 2030 emissions reduction goal accelerates global race to attract investment in net zero emissions industries and infrastructure | IGCC

Analysis by the Investor Group on Climate Change (IGCC) shows the new US target is now one of the strongest emissions reduction commitments amid the G20, only slightly behind what has been adopted by the United Kingdom and European Union (EU) nations. Overnight Japan and Canada, key trading partners and allies of Australia and New Zealand, also strengthened their emissions reduction goals for the end of the decade.

Climate Reality Check | Breakthrough

Draws together current climate research from around the world o present 20 critical observations, insights and understandings to help inform and guide the stark choices that now stand before us.

Alan Kohler: Scott Morrison, the Murdochs and the crime of the century | The New Daily

It’s not entirely Scott Morrison’s fault that he managed to look like a dissembling idiot at President Joe Biden’s leader’s summit on climate change last week.

He probably hasn’t read a word of the science about global warming and the grim future that awaits his children and grandchildren.

That’s not an excuse, but it tells us the scientists and bureaucrats who advise him and other politicians have been falling down badly on their jobs.

Australian super funds to vote against company directors not tackling climate crisis | The Guardian

Big super funds have threatened to vote against company directors who do not make sure their businesses are committed to action on global heating that includes hitting net zero by 2050.

The Australian Council of Superannuation Investors (Acsi), which represents investors that manage more than $1tn in retirement savings and hold about 10% of the shares in the top 200 companies in the country, said some boards were not tackling the climate crisis quickly enough.

Plastics Can Be Broken Down Into Fuel, And We Just Found a Great Method For It | Science Alert

This is definitely not the first time scientists have turned plastic into fuel (in fact, we've been reporting on these methods for years), but like most material sciences, the goal is to get the most plastic converted into the most fuel, at the cheapest cost and using the least amount of resources to do so.

The new technique ticks plenty of those boxes: it uses 50 percent less energy than similar technologies, can be done at temperatures of a normal kitchen oven, and doesn't involve adding carbon dioxide into the atmosphere. All exciting steps in the right direction.

Reset.21 Forum 6 | National Climate Emergency Summit

The dramatic shift in mainstream climate policy in support of a zero-emissions target is widely welcomed. But are we at grave risk of missing our intended outcome by attaching highly dangerous timeframes to this critical goal?

The evidence is clear: any further emissions released from now will only jeopardise the ability to address the existential threat of climate change. Current emissions will have ongoing impacts, and temperatures will continue to rise even if all future emissions were prevented today.

In addition for the need to address the question of immediate cooling, two actions critical for long-term climate repair include eliminating all further emissions, and large-scale removal of greenhouse gases from the atmosphere.

What are the leading tech disruptions, key innovations and economic strategies that could dramatically accelerate the transition to zero within the decade? What elements could make up an effective global drawdown program at the monumental scale and speed required?

Saul Griffith – Founder and Chief Scientist, Rewiring America

Heidi Lee – CEO, Beyond Zero Emissions

Justin Borevitz – Professor of Plant Energy Biology, ANU

Moderated by Natasha Mitchell – ABC Broadcaster & Journalist

Satellites reveal ocean currents are getting stronger, with potentially significant implications for climate change | The Conversation

Using available data from 1993 until 2020, we analysed changes in the strength of eddies across the globe. We found regions already rich in eddies are getting even richer! And on average, eddies are becoming up to 5% more energetic each decade.

One of the regions we found with the biggest change is the Southern Ocean, where a massive 5% increase per decade was detected in eddy activity. The Southern Ocean is known to be a hotspot for ocean heat uptake and carbon storage.

APRA releases guidance on managing the financial risks of climate change

The Australian Prudential Regulation Authority (APRA) has released for consultation its draft guidance to banks, insurers and superannuation trustees on managing the financial risks of climate change.

The draft Prudential Practice Guide CPG 229 Climate Change Financial Risks (CPG 229) is designed to assist APRA-regulated entities in managing climate-related risks and opportunities as part of their existing risk management and governance frameworks.

APRA has developed CPG 229 in response to requests from industry for greater clarity of regulatory expectations and examples of better industry practice. The guidance covers APRA’s view of sound practice in areas such as governance, risk management, scenario analysis and disclosure. The PPG does not, however, create new requirements or obligations, and is designed to be flexible in allowing each institution to adopt an approach that is appropriate for its size, customer base and business strategy.

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Australia’s third-largest carbon emitter says it must transition to renewables and curtail coal plants | The Guardian

Australia’s third-largest greenhouse gas emitter and Queensland’s largest power generator, Stanwell Corporation, has revealed plans to transition its business from fossil fuels to renewables, including curtailing the output of its coal-fired power plants.

Aim High, Go Fast: Why Emissions Need to Plummet this Decade | Climate Council

This report “Aim High, Go Fast: Why Emissions Need to Plummet this Decade” is the Climate Council’s science-backed vision for what Australia’s best effort could look like. Australia is a nation of currently high emissions but rich renewable energy resources. The country has been ravaged by unprecedented bushfires, droughts, and floods in recent years, and decision makers should not ignore these warnings.