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Carbon emissions

Big Banks Make A Dangerous Bet On The World’s Growing Demand For Food

As global banking giants and investment firms vow to divest from polluting energy companies, they’re continuing to bankroll another major driver of the climate crisis: food and farming corporations that are responsible, directly or indirectly, for cutting down vast carbon-storing forests and spewing greenhouse gas emissions into the atmosphere. These agricultural investments, largely unnoticed and unchecked, represent a potentially catastrophic blind spot. “Animal protein and even dairy is likely, and already has started to become, the new oil and gas,” said Bruno Sarda, the former North America president of CDP, a framework through which companies disclose their carbon emissions. “This is the biggest source of emissions that doesn’t have a target on its back.”

Coalition Pushes For 50% Carbon Cut By 2030

The United States officially rejoined the Paris Agreement Friday, with climate envoy John Kerry warning that high-stakes negotiations at COP 26 in Glasgow this fall represent the “last, best hope” to avert catastrophic climate change. “This is a significant day, a day that never had to happen,” Kerry said. “It’s so sad that our previous president, without any scientific basis or any legitimate economic rationale, decided to pull America out. It hurt us and it hurt the world.” Now, he added, the U.S. is re-entering the landmark 2015 accord “with a lot of humility, for the agony of the last four years”. The expression of “contrition” from the Biden administration is “balanced by a desire to resume the mantle of leadership at a time when almost every country is struggling to undertake the swift emissions cuts required to avert disastrous global heating of 1.5°C above the pre-industrial era, as outlined in the Paris deal,” The Guardian writes.

Many Overheated Forests May Soon Release More Carbon Than They Absorb

The last decades have been filled with dire warning signs from forests. Global warming has contributed to thinning canopies in European forests and to sudden die-offs of aspen trees in Colorado, as well as insect outbreaks that are killing trees around the world. In many places, forests are not growing back. New research shows that Earth’s overheated climate will alter forests at a global scale even more fundamentally, by flipping a critical greenhouse gas switch in the next few decades. The study suggests that, by 2040, forests will take up only half as much carbon dioxide from the atmosphere as they do now, if global temperatures keep rising at the present pace.

Are We Really Past The Point Of No Return On Climate?

A controversial new climate study has found that, even if greenhouse gas emissions were halted tomorrow, it might not be enough to stop temperatures from continuing to rise. The study, published in Scientific Reports Thursday, was conducted by two researchers at the BI Norwegian Business School. They used the ESCIMO climate model to determine that, even if emissions ceased tomorrow, the permafrost would continue to thaw for hundreds of years. "According to our models, humanity is beyond the point-of-no-return when it comes to halting the melting of permafrost using greenhouse gas cuts as the single tool," lead author and professor emeritus of climate strategy Jorgen Randers told AFP.

Multinational Companies Account For Nearly A Fifth Of Global CO2 Emissions

Rome - The global supply chains of multinational companies such as BP, Coca-Cola and Walmart are responsible for nearly a fifth of climate-changing carbon dioxide emissions, according to a new study. But the businesses outsource many of these emissions to poorer parts of the world by investing in production in developing countries, said researchers from University College London and China's Tianjin University. Dabo Guan, the study's co-author, called the work the "first quantitative evidence" on the investment flows and carbon footprints of multinational enterprises (MNEs).

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