Owing to a combination of competing priorities, holiday downtime, and the occasional bout of U.S. political insurrection, we’ve been a bit delinquent on updates recently. But new year, new reboot; we’re glad to be back, hope you’re well, and appreciate you being with us.
Let’s catch up quickly:
A New American Climate Era
One of the biggest developments in sustainability is of course the recent U.S. climate policy U-turn following the Biden-Harris inauguration. The U.S. will rejoin the Paris Climate Agreement on February 19th, 2021 (positive, but more symbolism than substance), revoke the Keystone XL oil pipeline’s federal permit (great), and is reviewing and rolling back most of the Trump administration’s climate policy, standards, and organizational sabotage in departments like the EPA and FEMA (splendid).
Separately, the Biden administration’s working to announce its own target for cutting emissions, which sources suggest will be more ambitious than the Paris Agreement’s soft — we’d even say dangerously complacent — target of containing mean global warming to “below 2 degrees Celsius.” The new administration’s also developing benchmarks for the social cost of carbon (CO2) and methane.
Given the U.S.’s international influence, these target indicators and their level of ambition are extremely important signaling. While 2° C global warming might seem small, it’s a level that will allow and amplify heat waves, droughts, biodiversity loss, and severe weather across the Southern US, Latin America, the Middle East, and large swaths of Asia and Africa, putting millions of people, animals, and farms at risk. If America publicly says “the Paris Agreement isn’t enough, we can do better” it helps put positive climate pressure on the international community, particularly large, high-emission economies like China and India.
Similarly, sober cost estimates on CO2 and methane gives state and local policymakers (as well as corporations) a framework for assessing emission risks, costs, and reduction programs. Like congestion pricing, we expect to see more states and cities take up or review pollution taxes and/or carbon pricing legislation. Forward-thinking companies should be planning for these modernizations now, rather than waiting and getting caught flat-footed when laws and regulations start to change.
Overall this is very good and welcome news. There are however, still grounds for healthy skepticism. For one, Biden Climate Czar John Kerry hasn’t always shown the most aggressive track record on climate mitigation (or environmental justice); his climate organization World War Zero formed a high-profile round table of politicians and celebrities in 2019, then accomplished very little over the next two years. Second, Democrats’ razor-thin majority in the Senate requires getting votes from Joe Manchin (D) of West Virginia or generally fossil-fuel friendly Republicans like Alaska’s Lisa Murkowski and Utah’s Mitt Romney, meaning Congressional action on climate is unlikely to be transformational.
Climate advocacy and accountability still very much matter in 2021.
Can Companies and States Help Set the Climate Pace?
To achieve our collective climate aspirations — given Senate gridlock — there’s still a big need for “local” and collaborative climate action at the organization, supply chain, city, county, and state level.
At the company level, new research by the World Economic Forum and BCG highlights how eight supply chains — food, construction, fashion, consumer products, electronics, auto, professional services, and freight transportation — are responsible for over 50% of the world’s global emissions.
Through better data-driven decision-making, cross-company collaboration, and broader adoption of biodynamic agriculture, materials innovation, recycling/up-cycling, renewable heat & power, circular supply chains, and electric transportation, companies can help us make major strides toward a safe, sustainable, lower-carbon future.
Corporations must take responsibility and leadership in the climate solutions ecosystem, and we’re happy to report we’re seeing a lot of activity and excitement in this space first-hand.
Similarly, local policymakers and advocacy organizations also have more open paths to forge ahead. One campaign we’re excited to be a part of is NYRenews’ push to pass the Climate and Community Investment Act (CCIA) in New York. The bill will enact a statewide tax on corporate pollution, and use the proceeds to fund green job creation, renewable energy & energy efficiency, and environmental justice initiatives for low-income communities.
While the exact specifics will likely be modified — and NY Governor Cuomo will take some pressure and coaxing to put his support behind it — given its current traction in the NY State Senate and Assembly (not to mention overall public popularity), we’re cautiously optimistic we’ll get a version of the CCIA passed this year.
Expect other blue states and cities to follow similar leads, particularly as COVID vaccine distribution and uptake improves.
New Year, New Beginnings
For a variety of reasons, 2021 feels like it could well be the start of a meaningful decade of positive sustainability and social change. Political will’s growing, people are ready, the capacity and technology infrastructure is ready to go, and companies seem to be taking ESG much more seriously than even a year ago.
This won’t be easy, and there’s plenty of work across our economy to create this change, but we feel a lot of optimism coming into the new year.
What about you? What’s most exciting or pressing for you in the coming months on climate and sustainability? As always, if you want to suggest or pitch us an idea, send a “hello” to hi@brightest.io and we’ll work it into our editorial calendar.
Also, quick friendly PSA, Brightest (that’s us) is currently hiring for sales, software engineering, and summer 2021 internships. If you’re entrepreneurial and excited about problem-solving around the topics we’re talking about (or know someone who is), we’d love to hear from you (or them).
In the meantime, stay well and we’ll see you next week.
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