Issue 2 Newsletter - web links

In the ever-evolving landscape of climate action, each step forward reveals both new opportunities and the pressing need for structural change. 2024/42 Anna Lerner Nesbitt_A Big Week for Carbon Markets! celebrates recent advances in carbon markets under the Paris Agreement’s Article 6. These updates bring crucial integrity to global markets but highlight a persistent gap: the absence of mandatory corporate accountability standards. The call for rigorous climate action is echoed by 2024/42 Josh Margolis_The Voluntary Carbon Market Must be Subsumed by Compliance Markets, arguing for voluntary offsets to be absorbed into compliance frameworks, ensuring all emissions reductions are valid and enforceable.

The sense of accountability extends across sectors. 2024/43 Ken Pucker_How Fast Are Privately Companies Decarbonizing? points out that private companies lag in decarbonization, often ignoring Scope 3 emissions. Similarly, 2024/43 Ken Pucker_Are Carbon Emissions a Sustainability Proxy for Fashion Brands? highlights fashion’s inconsistent reporting, where even sustainability-focused brands struggle with transparency. But deceptive practices aren’t confined to fashion; 2024/42 Mark McElroy_How Businesses Hide the Truth in Order to Deceive Their Constituents (and Themselves) shows companies often deceive both the public and themselves, sidestepping frameworks like Planetary Boundaries.

Yet, many industries show promising signs of innovation. 2024/42 Ollie Potter_A First - Impact Loans for Coral Reef Restoration introduces impact loans for coral reef conservation, pioneering financial models for protecting essential ecosystems. A similar spirit of sustainable finance emerges in 2024/43 Frank Van Gansbeke_Central Banks Are Failing to Guide a Low Carbon Transition, where differentiated interest rates are proposed to steer investments towards decarbonization. Still, accountability remains a challenge, as 2024/42 Huw Davies_Radical Divergence in Gas Demand Forecasts reveals differing gas demand forecasts between the IEA and oil majors, showing how fossil fuel companies sustain demand.

In the realm of climate science, the complexities continue. 2024/43 Darius Nassiry_Scientists Still Can’t Explain the Anomalous Warmth of 2023-24 discusses factors like stricter tanker fuel regulations and unusual volcanic activity, yet concludes that climate models might need revisiting. Amid these scientific uncertainties, 2024/42 Nate Hagens_Where Do We Stand With Regard to the Planetary Boundaries reminds us of our shared duty as "Planetary Guardians" to respect Earth’s limits.

Renewable energy finds itself at a crossroads, as 2024/43 Mark Roulston_Why I like climate prediction markets explores prediction markets to better forecast climate risks and model accuracy. Meanwhile, 2024/42 Paul Martin_Why I’m Not Going to Write Anything New on Nuclear Energy presents a nuanced view on nuclear power’s potential, while 2024/42 Jamie Beard_Censorship is Not the Answer for Promoting Geothermal Energy advocates for open dialogue and collaboration in the renewable energy sector.

Finally, 2024/43 Ketan Joshi_The Inefficiency of Today’s Energy System is Mind-Boggling exposes the wastefulness of fossil fuels, calling for more efficient, electrified alternatives. And as the global economy struggles with climate costs, 2024/42 Duncan Austin_The Under-Pricing of Carbon Emissions argues for true cost reflection in markets, urging us to price carbon accurately to protect our planet and its people.

Each of these voices illustrates the interconnected challenges and innovative paths available to address the climate crisis, underscoring the urgent need for a holistic, accountable approach to sustainability.

New Reports

In the latest round of climate reports, we’re seeing both pressing challenges and groundbreaking steps forward. 2024/43 Zeke Hausfather_Massive Gap Between Emissions Rhetoric and Reality reveals a widening gap between emissions rhetoric and reality, with greenhouse gas emissions surging to record levels in 2023. As global warming trends veer toward 2.9°C by 2100, the urgency for strong policy backing to meet ambitious climate goals is clear. Alongside this, 2024/42 Roberta Boscolo_Are We Treating Overshoot Too Lightly in Climate Pathways? raises a crucial question: Are we underestimating the dangers of overshooting the 1.5°C goal? If temperatures exceed this threshold, it could trigger irreversible consequences, underscoring the immediate need for actionable emissions cuts and CO₂ removal technology advancements.

Against this backdrop of urgency, 2024/43 Darius Nassiry_Probability Estimates of a 21st Century AMOC Collapse shares findings on the potential collapse of the Atlantic Meridional Overturning Circulation (AMOC), which scientists now predict may have a nearly 60% probability of collapse before 2050. The repercussions of such an event could be vast, demonstrating the need for robust climate monitoring and preparation. Meanwhile, 2024/42 Simon Evans_Takeaways from World Energy Outlook 2024 provides a glimpse into a future of renewable expansion, as the IEA forecasts exponential growth in solar and electric vehicle adoption. Though fossil fuels are expected to peak by 2030, emissions are unlikely to drop fast enough to meet the 1.5°C target, pressing the need for accelerated clean energy adoption.

To drive more ecological and economic sustainability, a report introduced by 2024/43 Ryan Sarsfield_Building a Thriving Biodiversity Credit Market highlights the promising role of biodiversity credits in creating a “nature-positive” business environment. Unlike carbon credits, these biodiversity credits enable corporations to offset environmental impacts while supporting ecological recovery, contributing to growing biodiversity commitments. Similarly, in economic spheres, 2024/42 Hans Stegeman_A Foundational Critique of Neoclassical Economics critiques Neoclassical Economics, pointing to its limitations in addressing environmental sustainability and social equity—offering a call for frameworks better suited to the planet’s challenges.

In the realm of corporate accountability, 2024/42 InfluenceMap_Assessing Companies Against the Net Zero Corporate Benchmark reveals the latest Climate Action 100+ assessments, showing slight improvements in corporate climate disclosures, but persistent gaps in policy alignment with science-based targets. The findings stress the need for companies to elevate both their transparency and their commitment to meeting Paris Agreement goals. For emerging financial approaches, 2024/42 Tom Gosling_What IS Transition Finance? dissects “transition finance,” an area that could benefit from more clarity in its bureaucratic processes, sparking essential discussions around finance’s role in the climate agenda.

In a promising stride for carbon markets, 2024/42 Alexia Kelly_Article 6.4 Supervisory Body Released Multiple Documents reports on the Article 6.4 Supervisory Body’s approval of new standards, setting a robust foundation for global carbon market integrity and interoperability. And while policymakers debate, 2024/43 Charlie Gardner_How Radical Activists Expand the Overton Window for More Moderate Voices shines a light on the dynamic role of activism, where disruptive climate actions, far from alienating the public, expand the Overton Window and enable moderate voices to drive policy change.

These reports reveal the complexity of today’s climate challenges, but they also highlight the pioneering strides being taken across science, business, and policy to forge a sustainable path forward.

New News

In the latest updates, there’s a growing spotlight on how climate change intertwines with various societal and environmental vulnerabilities. 2024/43 Laurie Schoeman_Affordable Housing Crisis Meets Growing Wildfire Risks shares the startling trend of households moving into "hazard hotspots"—areas at high climate risk. Often driven by economic needs or lifestyle choices, these relocations overlook the looming threat of disasters, amplifying strain on infrastructure and increasing financial losses. It’s a clear reminder of how intertwined our housing and climate crises are becoming.

Meanwhile, scientists are sounding the alarm on a potential "tipping point" in the Atlantic. 2024/43 Darius Nassiry_Open Letter Calling for Action on Potential AMOC Collapse highlights an urgent plea for Nordic policymakers to address the risks of the weakening Atlantic Meridional Overturning Circulation (AMOC). As one of the Northern Hemisphere's key climate regulators, a collapse of the AMOC could lead to severe cooling, intensifying extreme weather in Nordic regions and threatening local agriculture. This call to action underscores the need for immediate policy intervention to mitigate these unpredictable climate threats.

2024/42 Sophie Gilbert_Will the 2023 Breakdown of the Land Carbon Sink be Temporary? touches on another pressing concern: the earth’s deteriorating natural carbon absorption capacity. Wildfires and droughts are crippling ecosystems’ ability to sequester carbon, a role essential to moderating global warming. While scientists hope this degradation is temporary, the situation calls for urgent action to prevent further damage and restore these vital ecosystems.

Amid these urgent issues, 2024/42 Morten Mejsen Westergaard_Will Shaming “Climate Criminals” Work? reminds us that the path to effective climate action is complex, requiring open-mindedness and respect for differing perspectives. As public discourse evolves, fostering understanding and collaboration, rather than divisiveness, will be key in overcoming climate challenges and driving impactful policy changes. Together, these updates paint a picture of both the risks and the opportunities in navigating our path forward on climate action.