BlackRock’s Message to Companies: Adapt or Die

BlackRock’s Message to Companies: Adapt or Die

On Tuesday, the CEO of Blackrock, the world’s largest asset management company, announced in his yearly letter to his clients that they must layout comprehensive game plans to survive in a net-zero world.

Why This Matters: A 2020 report from portfolio.earth found that the world’s largest investment firms and banks are investing trillions each year into operations that damage the environment and threaten biodiversity.

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New Study Says Biden Climate Plan Possible

New Study Says Biden Climate Plan Possible

by Amy Lupica, ODP Contributing Writer A new study from energy experts at Princeton University delves deep into what it would actually take to make President-elect Joe Biden’s climate plan to reach net-zero emissions in the U.S. by 2050 a reality. The gist, said Jesse Jenkins, a Princeton professor and one of three leaders of […]

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ExxonMobil Makes New Carbon Reduction Commitment That Experts Call “Underwhelming”

ExxonMobil Makes New Carbon Reduction Commitment That Experts Call “Underwhelming”

With investors who hold hundreds of millions in ExxonMobil stock pressuring it to improve its performance on climate change and invest more in clean energy, the Company announced a new five-year plan today. According to Axios, experts said it’s not clear how much actual emissions might fall under the new plan.

Why This Matters:  Weak sauce from a weak company.  The ExxonMobil plan consists of only a few half measures — it falls far short of the industry standard set by ConocoPhillips, Occidental Petroleum, BP, and Shell, which have all pledged to have “net zero” emissions in the 2050 time frame. 

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Study Shows Majority of Fossil Fuel Power Plants Could be Obsolete by 2035

Study Shows Majority of Fossil Fuel Power Plants Could be Obsolete by 2035

A vast majority of fossil fuel power plants will reach the end of their lives by 2035, a new report shows. Experts say that this revelation shows that President-elect Joe Biden’s climate goals aren’t as lofty as they may have once seemed, according to Inside Climate News.

Why This Matters: President-Elect Biden has planned to transition the United States to net zero emissions by 2050 and carbon-free electricity by 2035.

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Australia To Stand Out As A Climate Laggard

Australia To Stand Out As A Climate Laggard

As Bloomberg Green recently reported, “as the leader of one of the few developed nations yet to commit to net-zero emissions, Australian Prime Minister Scott Morrison has just become even more isolated. Joe Biden’s victory in the presidential election means the U.S. will join a growing list of nations making the pledge, including some of […]

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2019 May Have Been Peak Year For Oil  Demand, BP Trying to Pivot

2019 May Have Been Peak Year For Oil Demand, BP Trying to Pivot

Yesterday, the world’s leading oil producers, the Organization of Petroleum Exporting Countries (OPEC), projected a larger decrease in oil demand than was predicted earlier in the pandemic.  The Hill reported that OPEC predicts oil demand will drop by 9.46 million barrels per day (bpd) rather than 9.06 million bpd. 

Why This Matters:  Big oil and gas companies like BP may be trying to put a good face on the bleak prognosis for oil, while they try to remain sunny about gas.

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