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The energy industry is under increasing pressure from environmental groups, the courts and even its own shareholders to start moving away from fossil fuels. As they dispose of some of their dirtiest assets, they end up in the hands of private equity firms.
New research shows the scale of these investments. Since 2010, the private equity sector has invested at least $1.1 trillion in the energy sector – twice the combined market value of the world’s three largest energy companies, Exxon, Chevron and Royal Dutch Shell.
Only 12 percent of private equity firms’ investments in the energy sector have gone to renewable energy such as solar or wind since 2010, but these investments have grown faster. You can do read details in my story today
Why is it important: One effect of sales to private equity investors is to divert these assets and their emissions and other environmental hazards away from the public eye.
Watch: In the battle against a giant wildfire
In the last two years, California has been rocked by wildfires like never before. Our interactive feature, military style operation to fight one of them: nearly a million acres of Dixie fire.
Listen: Which towns are worth saving?
Extreme weather and rising seas caused by the climate crisis are forcing Americans to confront a heartbreaking question: How do at-risk communities decide which homes to preserve and which to abandon? listen as Christopher Flavelle of the NYT climate team speaks With The Daily presenter Michael Barbaro.
Biden’s climate plan is tied to 2 bills. Both are uncertain.
President Biden said that this year will be the year that the United States will take big steps on climate change. But whether that will actually happen may depend on the fate of the two major spending bills currently pending in Congress.
as me wrote this week With my colleague Winston Choi-Schagrin, embedded in these bills are the measures that could mean the most significant climate action ever taken by the United States. There are provisions that will convert much of the country’s electricity grid to clean energy, create huge incentives for electric vehicles, and provide the largest ever flow of money to prepare communities for extreme weather conditions.
But the clock is ticking. If Congress fails to pass any legislation this year, it could be years before another opportunity for climate action emerges — a delay that climate scientists say the planet cannot afford.
In numbers: A recent analysis found that the major climate provisions in the law will put the United States halfway through Mr Biden’s goal of reducing emissions 50 percent below 2005 levels by 2030.
Join us at Glasgow climate talks
World leaders will meet in Scotland in November for the next round of international climate talks, COP26, and you can be there. Join us at The New York Times Climate Center to explore one of the most pressing questions of our time, face-to-face or online: How do we adapt and thrive in a changing planet? tickets nyclimatehub.com.
Planning for major climate disruptions
Little food. More traffic accidents. Extreme weather is hitting nuclear landfills. Immigrants flock to the United States, fleeing an even worse disaster in their home country.
Under President Biden’s orders, officials at each government agency have spent months thinking about the biggest climate challenges facing their institutions and how to tackle them. I wrote the results of that study — Climate adaptation plans and statements of 23 agencies, including the Energy, Defense, Agriculture and Homeland Security departments.
quotation: “Almost every service that government provides will be affected by climate change sooner or later,” said Jesse Keenan, a professor at Tulane University who focuses on climate adaptation.
What’s next: The phrase “now comes the hard part” is a cliché in Washington, but in this case it fits. The Biden administration is a federal workforce of exhausted climate experts After four years of cuts, turn these plans into real steps to better protect against the accelerating effects of climate change?
If you have the latest version of Google Maps on your phone, you might notice something new: a small green leaf that shows the most fuel-efficient route for your trip.
We from the climate team wondered: How effective can this change really be?
Given the reach of Google Maps, where more than a billion people use the app each month, the company estimates that the new feature could save more than a million tons of carbon emissions per year if everyone took the recommended “green” route every time. This would be equivalent to pulling 200,000 cars off the roads.
Transportation accounts for about a third of U.S. greenhouse gas emissions. Cars and trucks account for more than 80 percent of these emissions.
I spoke with Jeffrey Gonder, group manager at the National Renewable Energy Laboratory, which provides tools and support for Google Maps for this initiative. A previous study by the energy lab found that Google Maps already guides people to the most fuel-efficient route two-thirds of the time. However, this meant that a third of the time there was a more efficient way. For these trips, the fuel-efficient route would use 10 percent less energy than the recommended route.
“This is not the ultimate solution to tackling global warming,” Mr. Gonder said. “But that could be part of the cake because it’s a relatively easy thing to do.”
So how exactly does Google do these calculations? Google Maps has a huge store of information on road features, from road slopes to current traffic-based speeds, all including anything that can affect fuel consumption. For their calculations, the Google team used the energy lab’s RouteE model, which can predict fuel use based on second-to-second velocity trajectories over these various features.
It’s part of a broader sustainability move at the company. For example, Google Flights will include carbon emissions data for flights, and shopping searches will offer recommendations for energy-efficient home appliances.
Other companies are also considering maximizing route efficiency. For example, UPS said its route optimization policies for delivery trucks — such as avoiding left turns that can increase drivers’ idling time while waiting for oncoming traffic — have saved the company up to 10 million gallons of fuel and 100,000 metric tons. greenhouse gas emissions each year.
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