Tuesday, December 19th - 2023

Author: Sam Rubinstein

Your weekly guide to Sustainable Investment


 TBLI Circle revamping 2024

 
TBLI Circle 2024 will be shifting to a tiered membership. You can view the various levels to determine which works best for you. All those who didn't have a paid membership or VIP Membership will have to register again, as your account won't work after Jan 1, 2024

Why join TBLI Circle?

TBLI Circle serves as the ultimate hub for those seeking their tribe in sustainability. By joining, individuals connect with a community sharing their passion for sustainable practices and values.

Through exclusive events, masterclasses, and networking opportunities, TBLI Circle provides a fertile ground for like-minded individuals to come together, share insights, and build meaningful connections. It's a platform designed to empower, inspire, and unite those on the journey toward a more sustainable future, making it easier than ever to find and thrive within your sustainability tribe.

Ready to find your purpose and make a difference? TBLI Circle can guide you. For full details visit new landing page

"TBLI Circle: Empowering individuals, transforming communities, shaping a sustainable world."
 

FuturePlus wins TBLI Better World Prize

 
Harnessing the power of data-driven insights, FuturePlus, a Sustainability Group company, empowers companies to enhance their ESG performance, and has been named the winner of the TBLI Better World Prize.

Joining FuturePlus in the top three were Elevate, an LRQA Company, who secured second place, and As You Sow, who took third place.

To learn more about the winners, as well as the other participants, please visit our event and ESG measurement research page.

6 Major Food Breakthroughs at COP28 — and What Comes Next

By: Edward Leo Davey  - wri.org

Food has long been absent from UN climate summits — a major oversight given food systems’ vast interconnections with the climate.

Food and land use drive one-third of global greenhouse gas emissions. At the same time, food systems around the world are particularly vulnerable to droughts, flooding, extreme heat and other escalating impacts of climate change. The issue is particularly critical in many developing countries — for example, in Brazil, where food and land use drive 70% of emissions while over half the population remains food insecure.

How the world produces and consumes food also has a large bearing on its ability to end deforestation and slash methane emissions by 2030, both of which will be essential to meeting global climate targets.

COP28 in Dubai righted this wrong, with a series of breakthroughs at the nexus between food systems, food and nutrition security, agriculture and climate. Indeed, this was the COP when food finally took its place as central to the climate effort, with at least six notable outcomes that could drive transformational change in the sector:

1) 159 Countries Signed the COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems and Climate Action

At COP28, 159 world leaders endorsed the COP28 UAE Declaration on Sustainable Agriculture, Resilient Food Systems and Climate Action. Together their nations represent 68% (530 million) of the world’s farmers, 75% of the global population, 77% of global food production, 81% of the world’s arable land, 83% of global emissions from the food system and 83% of the world’s agricultural GDP.

The Declaration commits these nations to scale up adaptation and resilience for farmers, fishers and food producers; to promote food security and nutrition through social protection systems, school feeding programs and more; and to support workers in agriculture and food systems to maintain inclusive, decent work.

Critically, it includes an explicit call for nations to strengthen the integrated management of water in agriculture and food systems at all levels to ensure sustainability. And it emphasizes the need to maximize the climate and environmental benefits associated with agriculture and food systems while containing and reducing harmful impacts, such as by sustainably boosting productivity, protecting and restoring land and natural ecosystems, enhancing soil health and biodiversity, and shifting from higher greenhouse gas emitting practices to more sustainable production and consumption. This includes reducing food loss and waste and promoting sustainable aquatic "blue foods."

The Declaration further commits nations, by 2025, to:

  • Integrate agriculture and food systems into their national climate plans, known as "Nationally Determined Contributions" (NDCs), as well as national adaptation and biodiversity plans and long-term climate strategies.

  • Revisit and reorient policies and government support — including the $700 billion of agricultural subsidies the world spends every year — towards practices which reduce greenhouse gas emissions, bolster resilience and human, animal and ecosystem health, and reduce ecosystem loss and degradation.

  • Scale up and enhance access to all forms of finance in food systems, including finance for smallholder farmers.

  • Increase investment in science and innovation, including innovations arising from local and Indigenous communities.

  • Strengthen the multilateral trade system in support of the goals of the Declaration.

The Declaration concludes with a commitment by nations to bring their relevant ministries — including ministries of agriculture, health, climate, environment, energy and finance — together to discuss these goals and to report back on their progress at COP29.

Read full article

Cop28 landmark deal agreed to ‘transition away’ from fossil fuels


 
By:   and  in Dubai, and 

Summit president hails ‘historic package to accelerate climate action’ but critics decry ‘litany of loopholes’ in final text

Nearly 200 countries at the Cop28 climate summit have agreed to a deal that for the first time calls on all nations to transition away from fossil fuels to avert the worst effects of climate change.

After two weeks of at times fractious negotiations in the United Arab Emirates, the agreement was quickly gavelled through by the Cop28 president, Sultan Al Jaber, on Wednesday morning. He received an ovation from delegates and a hug from the UN climate chief, Simon Stiell.

Despite the urging of more than 130 countries and scientists and civil society groups, the agreement did not include an explicit commitment to phase out or even phase down fossil fuels.

Instead, it reached a compromise that called on countries to contribute to global efforts to transition “away from fossil fuels in energy systems in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science”.

Al Jaber argued that the deal, reached in the hottest year on record, was a comprehensive response to a global stocktake that found countries were failing to live up to the goals of the landmark Paris climate agreement, particularly a commitment to try to limit global heating to 1.5C (2.7F) above preindustrial levels.

“We have delivered a robust action plan to keep 1.5C in reach,” he said. “It is an enhanced, balanced, but make no mistake, a historic package to accelerate climate action. It is the UAE consensus. We have language on fossil fuel in our final agreement for the first time ever.”

Countries from the global south and climate justice advocates said the text fell short of what was needed on emissions reductions and finance to help the most vulnerable cope with worsening extreme weather and heat, and included language that appeared to placate fossil fuel interests.

There was confusion in the plenary hall shortly after the agreement was passed as many parties had assumed there would be a debate over the text. The Alliance of Small Island States, representing 39 countries, said it had not been in the room when the deal was adopted as it was still coordinating its response.

Its lead negotiator, Anne Rasmussen, from Samoa, did not formally object to the agreement and believed the deal had good elements, but said the “the process has failed us” and the text included a “litany of loopholes”. “We have made an incremental advancement over business as usual when what we really needed is an exponential step change in our actions and support,” she said. Her speech was met with a standing ovation.

Read full article

NSW pricing watchdog recommends overhaul of biodiversity offsets scheme

By:  - The Guardian

Tribunal found developers were paying into fund five times faster than the Biodiversity Conservation Trust was able to find required offsets

The New South Wales pricing watchdog has recommended an overhaul of the state’s biodiversity offsets scheme including phasing out a policy that allows developers to pay into a fund in order to meet their offset obligations.

The Independent Pricing and Regulatory Tribunal (IPART) conducts annual monitoring of the scheme, which allows developers to buy credits to compensate for habitat destruction caused by their projects.

In a report published on Monday, the tribunal said the scheme was “not operating well” in five key areas and that “fundamental obstacles” persisted that hindered its ability to function effectively.

“The key role of the biodiversity credits market is to connect biodiversity credit buyers and sellers to trade credits at a price that reflects the efficient cost of offsetting biodiversity,” tribunal member Sandra Gamble said.

“However, the annual report has found the biodiversity credits market is not performing well and requires several changes.”

Ipart is the latest body to highlight major concerns with the scheme.

An investigation of offsetting by Guardian Australia triggered multiple inquiries in 2021 after identifying offsets that had been promised and not delivered, so-called “double dipping” on offsets in areas that already had some form of protection and restoration activity, and concerns about conflicts of interest among consultants working in the scheme.

Almost every inquiry found major issues with a fund, managed by the state’s Biodiversity Conservation Trust (BCT), that developers can pay into rather than buying credits directly from the market. The trust must then buy offsets on developers’ behalf.

In 2022, the NSW auditor general found the offset obligations the trust took on were increasing every year. It found there was a risk the fund would fall short of what was needed to buy the necessary offsets to compensate for habitat destruction that had occurred in the state.

Ipart’s review finds that in 2022-23 only one in five developers secured offsets by direct purchase of credits through the market, while four in five chose to make payments into the fund.

The tribunal found developers were paying into the fund five times faster than the BCT was able to find the required offsets.

The tribunal has recommended the government phase out the option to pay into the fund and “establish interim measures to manage the change while the market develops”.

“IPART’s report has shown that six years in, the scheme is a complete failure,” the NSW Greens environment spokesperson Sue Higginson said.

“The government must now take immediate and drastic action to freeze all contributions into the fund and develop a new approach that centres biodiversity values above all else.”

Read full article 

Anonymously funded group stokes local opposition to Ohio solar project

By: Kathiann M. Kowalski, Energy News Network

An anonymously funded group is spreading misinformation about a rural Ohio solar project, according to project backers and others who reviewed claims made at a recent event.

Knox Smart Development was incorporated last month by Jared Yost, a Mount Vernon resident and opponent of the planned 120 MW Frasier Solar project. Three weeks later, on Nov. 30, the group hosted a catered “town hall meeting” at a Mount Vernon theater that included speakers with ties to fossil fuel and climate denial groups.

A company official with the solar developer, Open Road Renewables, was denied entry to the event, which was attended by approximately 500 people and featured complimentary food and drinks following the program. 

It’s unclear who funded Knox Smart Development so it could pay for the event.

“There are people with concerns who are helping us, and they’ve all asked to remain anonymous,” Yost said when asked about its funding sources as people left the theater. “So we have local concerned citizens who are helping to fund this, including myself.”

A Dec. 7 filing advised developer Open Road Renewables and others that the Ohio Power Siting Board was ready to start review of the application for the Frasier Solar Project, which was filed in October. The project would be located in Clinton and Miller townships, both in Knox County. Yost and Knox Smart Development filed to participate in the case as parties on Dec. 8.

An early version of Knox Smart Development’s website included the text, “Our mission: Empowering America,” with a hyperlink to a page for an organization called The Empowerment Alliance. Research by the Energy and Policy Institute, an energy and utility watchdog group, has linked the Empowerment Alliance to the natural gas industry. 

Dave Anderson, the institute’s policy and communications director, found a National Review Ideas Summit program guide that characterized The Empowerment Alliance as a project of Karen Buchwald Wright and her husband, Tom Rastin. Wright is the board chair of Ariel Corporation, which makes compressors for the natural gas industry. Its headquarters is in Mount Vernon.

The Empowerment Alliance’s highest-paid contractor for the past four years, according to Internal Revenue Service filings, has been a group called Majority Strategies. Its chief strategist, Tom Whatman, emceed the Nov. 30 event for Knox Smart Development.  Whatman is also the former executive director of the Ohio Republican Party.

Another speaker at the Nov. 30 event, Mitch Given, has appeared on behalf of The Empowerment Alliance to promote natural gas issues to county commissioners in AshlandMadison and Logan counties. In Ashland County, Given said the alliance takes a hard line against renewables, and that Rastin, a director of Ariel Corporation, has been a major supporter.

Whatman introduced Given at the program as someone who has been traveling around the state talking to farmers and others “that don’t know where to turn to find their voice to help them organize and how to push back” against solar projects.

Steve Goreham, a featured policy expert on the website for the Heartland Institute, also spoke at the Nov. 30 event. Heartland is well known for its attacks on mainstream climate science, and Goreham has often argued against the scientific consensus that human-caused climate change is real and driven primarily by emissions from burning fossil fuels.

Separate from the meeting, various area residents received free copies of Goreham’s latest book, which claims there will be a coming renewable energy failure. 

“Given the significant misinformation surrounding solar and wind arrays, I bought you this book that really lays out the facts,” said an enclosed note signed by Wright as Ariel’s chair.

Read full article

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