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Health

Amazon rainforest now releasing extra carbon than it absorbs: research

Smoke rises during a fire in an area of ​​the Amazon rainforest near Porto Velho, Rondonia state, Brazil, September 10, 2019.

Bruno Kelly | Reuters

According to a new study, the Amazon rainforest emits more carbon than it can absorb.

The rainforest was once a carbon sink – that is, it absorbed more carbon than it released – but it now emits more than 1 billion tons of emissions each year, mainly due to forest fires and deforestation.

The nine-year research project, published on Wednesday, was led by the Brazilian National Institute for Space Research in collaboration with scientists from several countries, including the United States, the Netherlands and New Zealand.

Drones collected samples to measure carbon levels in four locations in the Amazon, with the long time frame of the study allowing researchers to account for the annual variation in forest carbon levels.

The Amazon’s carbon footprint – the final balance between emissions and carbon uptake – showed that 1.06 billion tons of CO2 were released into the atmosphere annually between 2010 and 2018. According to the study, 0.87 billion tons of emissions came from the Brazilian Amazon.

Incineration was the largest source of CO2 emissions from the Amazon, accounting for 1.5 billion tons of CO2 emissions, according to the study. If there were no fires or deforestation, the agency said, the Amazon would remove nearly 0.5 billion tons of carbon from the atmosphere.

Researchers found that regions of the rainforest where deforestation was above 30% had 10 times more carbon emissions than areas with 20% or less deforestation.

The most heavily deforested areas of the Amazon had drier, warmer, and longer dry seasons, the study found. In dry months, the temperature in these parts of the Amazon rose by 2 degrees Celsius, which increased the forest’s flammability and reduced its ability to absorb carbon dioxide.

Emanuel Gloor, one of the researchers at the University of Leeds in the UK, told CNBC that the study showed immediate need for action.

“The data shows that forests in much of the Amazon region that are increasingly exposed to the heat are suffering,” he said in an email. “It is another wake-up call that the attack on the Amazon forests should be stopped urgently.”

Although the Amazon stretches across nine countries, about 60% of the forest is in Brazil. According to Greenpeace, the Brazilian Amazon has lost more than 18% of its rainforest in the past 40 years.

In 2019, Brazil’s President Jair Bolsonaro was criticized for telling a UN assembly that the Amazon was “untouched and virtually untouched” after the rainforest was found to burn at record speed.

After increasing international pressure, he later authorized the Brazilian military to fight the fires. Last month, Reuters reported that Bolsonaro put a 120-day ban on unauthorized outdoor fires and switched the military to contain forest fires in the Amazon.

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Business

Jefferies on the carbon challenges in electrical automobile manufacturing

Electric vehicle manufacturing currently faces an “embedded carbon” challenge, says Jefferies’ Simon Powell.

“To gain the environmental dividend that governments are looking for, users are going to have to keep them longer, drive them further than they may have done with a conventional internal combustion energy vehicle,” Powell, head of global thematic research at the firm, told CNBC’s “Street Signs Asia” on Wednesday.

He explained that a “huge amount” of carbon is emitted when materials such as steel, aluminum and glass are created and put together to manufacture vehicles. He said the problem is compounded for electric vehicles, which currently tend to be heavier on average than their gasoline-powered counterparts.

“When they leave the factory, these (electric vehicles) are at a disadvantage,” he said. “They contain more steel. The brakes are bigger. The battery packs are certainly heavier.”

The relatively higher weight of electric vehicles today is a result of manufacturers’ focus on the range for these cars, Powell said. Unlike cars which run on internal combustion engines that have been around for decades, the charging infrastructure for electric vehicles is considerably less developed globally.

Importance of ‘green steel’

Powell predicted, however, the “embedded carbon” in electric vehicles is expected to eventually come down to levels that compare with conventional vehicles.

“The way this whole thing gets solved is greener steel,” he said. “The use of hydrogen in the manufacturing process for steel, as well, is something to look at.”

“I don’t think many people are talking about the greening of the steel industry,” the analyst said, admitting that it will be “very challenging” to decarbonize the sector globally.

Read more about electric vehicles from CNBC Pro

The metal today is largely produced from coking coal, while the making of lower carbon steel tends to be both more resource intensive and costlier.

“I think it’s going to take a long time. We’re talking about large investments with … long paybacks, long time horizons,” Powell said.

Meanwhile, investors should also monitor the development of battery technology as more energy-dense cells will aid in bringing down the weight and potentially the embedded carbon of electric vehicles, Powell said.

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World News

Dutch courtroom guidelines Shell should minimize carbon emissions by 45% by 2030

A cyclist passes oil silos at the Royal Dutch Shell Pernis refinery in Rotterdam, the Netherlands, on Tuesday, April 27, 2021.

Peter Boer | Bloomberg | Getty Images

LONDON – A Dutch court ruled on Wednesday that oil giant Royal Dutch Shell must cut its CO2 emissions by 45% by 2030 compared to 2019.

This is a much larger reduction than the company’s current goal of reducing its emissions by 20% by 2030.

The landmark ruling comes at a time when the world’s largest corporate emitters are under immense pressure to set short-, medium- and long-term emissions targets that are compatible with the Paris Agreement. The climate agreement is widely recognized as extremely important to avoid an irreversible climate crisis.

According to Shell’s current climate strategy, the company aims to become a net zero issuing business by 2050. The company has set itself the goal of reducing CO2 emissions by 45% by 2035.

A Shell spokesman said the company “fully expects to appeal today’s disappointing court ruling”.

“We are investing billions of dollars in low-carbon energy, including charging electric vehicles, hydrogen, renewables and biofuels,” the spokesman said via email. “We want to increase the demand for these products and expand our new energy business even faster.”

Shell shares traded 0.2% higher in London. The share price is up nearly 10% since the start of the year, after falling nearly 40% in 2020.

“A turning point in history”

The lawsuit was filed in April 2019 by seven activist groups – including Friends of the Earth and Greenpeace – on behalf of 17,200 Dutch citizens. Subpoenas in court alleged Shell’s business model “endangering human rights and lives” by threatening the goals set out in the Paris Agreement.

Under the Paris Agreement, adopted in 2015 and signed by 195 countries, states agreed on a framework to prevent global temperatures from rising by more than 2 degrees Celsius, although the agreement aims to limit global temperature increases by more than 1.5 degrees Celsius.

Roger Cox, an environmental advocate on the case, said in a statement that the ruling marks “a turning point in history” and could have dire consequences for other major polluters.

Meanwhile, Sara Shaw, Friends of Earth’s international program coordinator for Climate Justice and Energy, hoped the ruling would “spark a wave of climate disputes against major polluters, forcing them to stop fossil fuel extraction and burning”.

Mark van Baal, founder of the Dutch group Follow This, told CNBC via email that the judge’s verdict shows that “Big Oil can no longer deny the crucial role it must play in the fight against climate change”.

At Shell’s general meeting last week, shareholders voted overwhelmingly in favor of the company’s energy transition plans. Crucially, however, a growing minority opposed the strategy, insisting that the oil giant had much more to do in the fight against climate change.

Activist investor Follow This said at the time that the outcome would likely mean Shell would have to revise its climate targets yet again.

According to Reuters, the case is the first in which activists have taken a large energy company to court to force it to revise its climate strategy.

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Business

Personal jet constitution firm VistaJet targets carbon neutrality by 2025

The private jet charter company VistaJet has outlined plans to achieve carbon neutrality by 2025 in order to implement the aviation industry’s sustainability goals.

The strategy includes carbon offsetting schemes that help protect forests in Zimbabwe and the Brazilian Amazon, as well as the option for customers to pay additional fees for sustainable fuels such as biofuels.

VistaJet’s founder and chairman said the company’s shared economy business model, which “competes with full aircraft ownership” by giving subscribers access to its fleet of 160 private jets, means customers are more willing to make sustainable cost savings Invest add-ons.

Some of these empty flights can be up to 50% compared to a shared model where it is constantly being optimized.

Thomas Flohr

Founder and Chairman of VistaJet

“The price and cost advantages that we grant make this surcharge possible,” Thomas Flohr told CNBC’s “Squawk Box Asia” on Thursday. So far, VistaJet has had a conviction rate of over 80% among customers who choose sustainable fuels.

Flohr said the company will also use “cutting edge technology” for route planning, including artificial intelligence, to predict customer behavior and reduce empty legs to the “lowest possible level.”

“This is really one of the problems with corporate jets. Some of these empty flights can be up to 50% compared to a common model that is constantly optimizing it,” he noted.

A man is on the phone next to a VistaJet on display for the 11th Annual European Business Aviation Convention and Exhibition (EBACE) on May 16, 2011 at Geneva Airport and the Geneva Palexpo in Geneva, Switzerland.

Harold Cunningham | Getty Images News | Getty Images

The plans come because the aviation industry is under continued pressure to cut carbon emissions and improve sustainability practices, even as it struggles to recover from the coronavirus-induced impact on international travel.

The global aviation industry is currently aiming for a 50% reduction in CO2 emissions by 2050.

Despite criticism of private jet flights, whose low passenger numbers are typically viewed as more inefficient than commercial alternatives, Flohr believes the industry is at a turning point.

While commercial airlines can take several years to return to full capacity due to the pandemic, companies like VistaJet can now operate smaller aircraft at full capacity, he said.

“In terms of business efficiency, we really don’t keep a CEO on a flight,” said Flohr. “We really only take off when we have a fully paid and fully equipped cabin.”

Already this year, restrictions on business travel have been a boon for VistaJet as the company saw demand in the first quarter that was above pre-pandemic levels.

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Business

The Journey Company pledges 100% carbon neutrality by 2030

A 400-kilowatt Tesla solar power plant supplies 95% of the energy in the Xigera Safari Lodge, a hotel of the Red Carnation Hotel Collection in the Okavango Delta in Botswana.

The travel company

Travel Corporation, which owns and operates 40 travel brands – including managed vacation companies, hotels and transportation companies – has announced a five-tier climate change plan to achieve carbon neutrality by 2030 and continue existing efforts to meet its sustainability goals.

The plan, announced on Earth Day when President Joe Biden pledged to cut U.S. greenhouse gas emissions in half over the same period, calls for the privately owned Travel Corporation to implement not only the five steps of its new plan, but a new one as well Online Impact Hub launches “at Impact.TreadRight.org, where consumers can track the progress of the effort. In addition, the company and its nonprofit Treadright Foundation are donating $ 100,000 to two” nature-based “carbon removal solutions, Project Vesta and GreenWave , invest.

While Cypress, California-based The Travel Corporation first launched its sustainability strategy in 2014, formal efforts to tackle carbon emissions began in 2019, CEO Brett Tollman said.

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“By that time, the US had pulled out of the landmark Paris Agreement and we felt we had to find our own way to reduce our emissions and become industry leader,” he said. “I welcome Joe Biden’s re-entry into the Paris Agreement.

“This will hopefully accelerate innovation in clean energy, electric vehicles, carbon capture and removal, as well as other areas where investment is urgently needed to support the transition to a low-carbon economy,” added Tollman.

The new climate action plan directly addresses the first two goals of The Travel Corporation’s sustainability strategy, which focus on the company’s carbon footprint: get 50% of the company’s electricity from renewable sources by 2025 and become carbon neutral by 2030. Climate change The vast majority of scientists believe that global warming is linked to an increase in emissions of carbon dioxide, methane and other greenhouse gases into the atmosphere.

The Travel Corporation’s climate protection plan

The climate protection plan approved by The Travel Corporation consists of five points:

  1. Measure up: Measure emissions from business travel and travel.
  2. To reduce: Build on reduction efforts and set yourself ambitious reduction targets by mid-2022.
  3. Remove: Invest in new technologies and nature-based solutions to remove excess carbon from the atmosphere through the TreadRight Foundation.
  4. Offset: Buy carbon credits to offset unavoidable emissions, including phasing out carbon-neutral driving between 2022 and 2030.
  5. Develop: Keep learning from others, investing in new technology, and supporting strategic alliances that make Travel Corp. and enable the industry to transition to a low carbon economy.

Source: The Travel Corporation

The travel and transportation industries are often cited as the main producer of these emissions. “Decarbonising air travel is a critical next step towards a low-carbon future and there are technological advances in this sector that we welcome and are eager to see,” said Tollman. “Our climate protection plan prioritizes the reduction and elimination of emissions.”

The actions will affect the Travel Corporation’s 20+ offices, 18 Red Carnation Hotels, 13 Uniworld ships, six accommodations, over 500 vehicles and more than 1,500 itineraries operated by 40 run vacation brands worldwide including Contiki, Trafalgar and Insight Vacations become.

As part of this effort, the company has installed solar panels at Uniworld’s headquarters in Encino, California. Implementation of a 400-kilowatt Tesla system that supplies 95% of the energy in the Xigera Safari Lodge in Botswana; and in the resorts of Chateau de Cruix in France, Haus Schöneck in Austria and Ashford Castle in Ireland switched to 100% renewable electricity.

By January 1, 2022, Travel Corporation will have carbon-neutral offices and business travel through its carbon offset partner South Pole, and the Contiki division will also be completely carbon-neutral.

Regarding the potential cost or impact on prices from the measures, Tollman said the impact is worth it. “Our efforts to incorporate sustainability into our business are not new. They have evolved since our foundation was launched,” he said. “This has not resulted in higher costs, but certainly has resulted in higher value.”

Despite the setback in environmental policies and measures in some areas of US society, Tollman is not concerned about the impact on bookings. “Regardless of political ideologies, we welcome travelers from all over the world,” he said. “That’s why our sustainability goals affect the way we work. So it’s not up to the traveler to agree or disagree with our practices, it’s just the way we do business.”

Categories
Business

American Petroleum Institute endorses carbon pricing

The oil and gas industry’s largest trading group on Thursday approved a price on CO2 emissions to warm the planet, a big shift after long resisting regulatory action on climate change.

The American Petroleum Institute’s move comes as President Joe Biden prepares to come up with a comprehensive infrastructure proposal that focuses on reducing greenhouse gas emissions and moving to clean energy.

In a virtual meeting with White House officials on Monday, industry leaders from companies such as ExxonMobil, BP, Chevron and ConocoPhillips, as well as API, also signaled support for market-based carbon pricing.

The approval represents a major shift in the industry’s strategy on climate change and an appreciation of the new administration’s regulatory actions following former President Donald Trump’s deregulation efforts to support U.S. producers.

For example, in January Biden issued an executive order to end new oil and gas leasing in states, which met opposition from producers and a number of Republican-led states.

Vice President Kamala Harris (2-L) and the President’s Special Envoy for Climate, John Kerry (L), watch as U.S. President Joe Biden signs executive orders after speaking in the state dining room on combating climate change, Job creation and the restoration of academic integrity was spoken at at the White House in Washington, DC on January 27, 2021.

Almond Ngan | AFP | Getty Images

The API’s confirmation also signals that the methane-emitting industry, a greenhouse gas 84 times as potent as carbon dioxide, would prefer quantifiable climate-related costs over ongoing regulations.

The industry’s plan has been amalgamating over the past 18 months and includes advocating federal funding for advanced technologies, further reducing operational emissions, promoting clean fuels, and increasing transparency by expanding the use of ESG guidelines for reporting.

The API was a staunch opponent of a carbon tax when Congress last debated the subject almost a decade ago.

CNBC policy

Read more about CNBC’s political coverage:

“The world has changed since Congress had this debate,” said API President and CEO Mike Sommers.

The industry is facing increasing pressure from investors to measure their contribution to climate change. And the von Biden administration has vowed to put the US on a path towards net zero emissions by 2050.

While the Democrats are still working on the details of the upcoming infrastructure proposal, it is expected to cost between $ 2 trillion and $ 400 billion in clean energy and innovation.

A carbon tax could also provide funding to fund the infrastructure plan. The Tax Foundation estimates that a $ 50 per tonne carbon emissions tax, assuming a 5% annual growth rate over 10 years, could generate additional federal revenue of $ 1.87 trillion.

The API said it would not support a tax that would fund other programs not related to climate change.

“To the extent that a new carbon tax is put in place to fund the X program … that’s not what we’re talking about and we wouldn’t support that,” Sommers said. He added that the industry is considering changes to existing regulations following a confirmation of the carbon pricing policy.

Some environmental groups see it as an industry ploy to offer a solution to the carbon problem and continue to participate in the debate.

David Doniger, program director for climate and clean energy at Defense Council for Natural Resources, said the move reminded him of the maxim that it is better to be at the table than on the menu.

“This is an effort to get to the table instead of being overlooked and rudely running, but it’s not entirely certain yet. I don’t know what they are offering to really support,” said Doniger.

The NRDC also spoke out against removing strict pollution or efficiency regulations in order to get a price on carbon.

“It’s like old Wimpy with the hamburgers: I’ll be happy to have a hamburger today and pay you back next Tuesday,” said Doniger. “We are not interested in trading one or more of the existing tools.”

Categories
Business

Cement giants flip to inexperienced hydrogen, carbon seize to curb emissions

The device is in a converted shipping container.

RICE, Energy Security Research Institute, Swansea University

A subsidiary of the multinational building materials company HeidelbergCement is working with researchers from Swansea University to install and operate a demonstration unit for green hydrogen at a location in the UK

The collaboration is another example of how companies involved in energy-intensive processes are looking for ways to maintain productivity while reducing emissions.

In a statement last week, Swansea University said the green hydrogen unit, housed in a converted shipping container, has been installed at Hanson UK’s Regen GGBS facility in the town of Port Talbot, South Wales.

The term GGBS refers to ground granulated blast furnace slag that can be used in place of cement in concrete production.

The effects of cement production on the environment are significant. According to a 2018 report by the British think tank Chatham House, over 4 billion tons of cement are produced annually. According to the political institute, this corresponded to around 8% of global CO2 emissions.

Regen GGBS, while having a smaller carbon footprint than Portland cement, remains an energy-intensive product that requires significant amounts of electricity and natural gas.

According to Swansea University, the idea behind the Port Talbot project is “to replace some of the natural gas used in the facility with green hydrogen, which is considered a clean source of energy as it only gives off water when burned”.

The facility at the Hanson UK site produces hydrogen through electrolysis, which splits water into oxygen and hydrogen.

When the electricity comes from renewable sources – the project in Wales uses on-site wind and solar panels – the end product is called “green hydrogen”.

The system was put together as part of the Industrial Carbon Emission Reduction initiative led by the Energy Safety Research Institute at Swansea University.

In a statement, Charlie Dunnill, a lecturer at ESRI, described cement making as “one of the most energy and carbon intensive industries, and therefore a perfect place to have an impact on carbon reduction”.

Last week, the world’s largest cement company, LafargeHolcim, also announced that it would be part of a collaboration to “explore” the development of carbon capture and storage solutions.

In a statement, the company said it will “study the feasibility of carbon capture” at two facilities, one in Europe and one in North America, using Schlumberger New Energy’s carbon sequestration technology.

The United States Geological Survey describes carbon sequestration as “the process of capturing and storing atmospheric carbon dioxide”. Carbon capture can occur naturally – for example through forests – or through man-made systems developed by humans.

Cement making is just an industrial process that can be significantly improved in terms of emissions and other sustainability metrics.

The production of aluminum is different. BMW recently announced that it has started sourcing and using aluminum, made using solar power, for example.

In an interview with CNBC’s “Street Signs Europe” last Friday, the CFO of aluminum manufacturer Hydro spoke about the market for more sustainable offers.

“We are seeing a demand for our specific products, Hydro REDUXA and Hydro CIRCAL, which are low carbon or recycled … and really pick up again,” said Pal Kildemo.

“And we can charge a premium for these products compared to other ‘more normal’ products.”

Categories
Business

Invoice Gates on his carbon footprint

Bill Gates is a climate change philanthropist and evangelist.

But he knows full well that his life as a billionaire and business tycoon also makes him an “imperfect ambassador for climate change”, he writes in his new book “How to Avoid a Climate Catastrophe”.

“I can’t deny I’m a rich man with an opinion,” writes Gates, who is worth more than $ 100 billion, has a huge home in Medina, Washington (known as the “Xanado 2.0”) and uses a private jet (which helps) he does the worldwide work of the Bill and Melinda Gates Foundation, he said on Reddit).

“It is true that my carbon footprint is absurdly high,” writes Gates in his new book.

“I own big houses and fly in private planes – in fact, I brought one to Paris for the climate conference – so who am I to teach someone about the environment?” he writes.

Gates says he long felt guilty about its high emissions, but “Working on this book made me even more aware of my responsibility to reduce them,” he writes. “Reducing my carbon footprint is the least that can be expected from someone in my position who is concerned about climate change and who publicly calls for action.”

(Gates’ disproportionate consumption of carbon-emitting fossil fuels is representative of a larger global trend: The “1%” are the main drivers of climate change, while the poorest are hardest hit.)

According to Gates’ book, he started using sustainable jet fuel in 2020 and “will fully offset my family’s aviation emissions by 2021”.

According to the International Air Transport Association (IATA), the trade association for the world’s airlines, sustainable jet fuel is not made from fossil fuels. According to IATA, it can be made from any number of raw materials, including edible oil, vegetable oils, municipal waste, exhaust fumes, and agricultural residues.

For Gates’ non-aviation emissions, he writes that he “buys offsets through a company that operates a facility that removes carbon dioxide from the air.”

A carbon offset is a reduction in carbon emissions in order to offset the emissions generated elsewhere. In particular, “offsetting carbon means reducing or removing one ton of carbon dioxide (CO2) from the atmosphere,” said Anne Thiel, communications manager at Verra, a Washington, DC-based nonprofit. Carbon dioxide is used as a reference point because it is the most abundant greenhouse gas in the atmosphere and “stays in the climate system for a very long time,” says Thiel.

It’s worth noting that some criticize the idea of ​​carbon offsetting as a convenient loophole for more permanent solutions. Others, however, see it as better than nothing.

“Businesses should carefully set and work towards a net zero target, and we should all stick to those targets. In the meantime, however, we must now find a way to reduce emissions in order to avoid catastrophic climate change,” says Naomi Swickard. the Chief Program Officer at Verra. “Offsets are one of the most efficient, short-term ways to drive funding to real emissions reductions so we can turn the corner and stay below the turning points of the planet – giving us time for the longer term transition.”

Gates writes that he also invests in clean energy companies and nonprofits. For example, in 2015 Gates pioneered Breakthrough Energy, a venture capital fund that invests in technology for climate innovations “that will lead the world to net zero”.

Net zero emissions mean getting to a place where no new emissions are released into the atmosphere overall. “The emissions will persist, but will be offset by absorbing an appropriate amount from the atmosphere,” said the United Nations.

“I’ve put more than $ 1 billion into approaches that I hope will help the world go to zero, including affordable and reliable clean energy and low-carbon cement, steel, meat and more,” writes Gates in his book.

“Of course, investing in companies doesn’t reduce my carbon footprint. However, once I have chosen winners, they are responsible for removing much more carbon than my family or myself are responsible for,” Gates wrote.

“Besides, it’s not just a person’s goal to offset their emissions, but to avoid a climate catastrophe.”

See also:

Fossil fuel emissions responsible for 1 in 5 premature deaths: Harvard report

The Who, What, and Where of Elon Musk’s $ 100 million prize for carbon capture innovations

Carbon capture technology has been around for decades – that’s why it hasn’t caught on

Categories
Business

Pay farmers to chop carbon footprint

Fourth generation rancher Loren Poncia made Stemple Creek Ranch carbon positive. He has implemented rotary cattle grazing systems that allow the soil and grass to recover, put compost on pastures, and planted chicory that aerates the soil.

Courtesy Paige Green

President Joe Biden has urged U.S. farmers to lead the way in offsetting greenhouse gas emissions to combat climate change – a goal that fourth generation rancher Loren Poncia set out to achieve over a decade ago.

Despite being in the beef sector, which is a huge contributor to global warming, Poncia has made its northern California ranch one of the few carbon positive cattle farms in the country.

“It’s a win-win – for the environment and for our paperback,” said Poncia, who introduced carbon farming practices through a partnership with the Marin Carbon Project.

Experts estimate that through regenerative farming practices, farmers around the world can sequester enough of the carbon to avert the worst effects of climate change. Research suggests that removing carbon already in the atmosphere and replenishing the soil could lead to 10% carbon depletion worldwide. The United Nations has warned that efforts to contain global emissions without drastic changes in global land use and agriculture will be neglected.

The Poncia ranch is sequestering more carbon than is released by processes like rotary cattle grazing systems, which allow the soil and grass to recover. It involves applying compost to pastures instead of chemical fertilizers to avoid tillage, build worm farms, and plant chicory to aerate the soil. Such climate-friendly projects have enabled Poncia to grow more grass and produce more beef.

“If we as a world want to undo the damage done, it is through agriculture and food sustainability,” said Poncia. “We are excited and positive about the future.”

While some farmers, ranchers, and foresters have already adopted sustainable practices that capture existing carbon and store it in the soil, others are concerned about up-front costs and uncertain yields that can vary by state and farm.

The U.S. Department of Agriculture recently said it would encourage farmers to adopt such sustainable practices. And more and more researchers and companies have started to better quantify and manage the carbon stored in the soil.

USDA pushes for carbon cultivation

Tackling climate change has become a matter of survival for American farmers who have suffered great losses from floods and droughts that have become more frequent and more destructive across the country.

In 2019, farmers lost tens of thousands of acres in historic floods. And NASA scientists report that rising temperatures have pushed the western United States into the worst decade-long drought in the last millennium.

In the United States alone, the Environmental Protection Agency estimates that agriculture causes more than 10.5% of greenhouse gas emissions to warm the planet.

As a result, the Biden government now plans to steer $ 30 billion in agricultural aid from the USDA’s Commodity Credit Corporation to pay farmers to implement sustainable practices and capture carbon in their soil.

This file photo dated Monday, March 18, 2019 shows flood and storage tanks underwater on a farm along the Missouri River in rural Iowa north of Omaha, Neb.

AP Photo | Iowa Homeland Security and Emergency Management

Biden’s candidate for USDA Agriculture Secretary Tom Vilsack, who has vowed to fulfill Biden’s broader plan to achieve a net-zero economy by 2050, said the money could be used to create new markets that encourage producers to do so To fix carbon in the soil.

Former President Donald Trump previously used these funds to save farmers who were harmed by his trade wars with China, Mexico and Canada that lowered commodity prices.

Using the CCC money to create a carbon bank may not require Congressional approval and agricultural lobby groups are expected to convince Congress to expand the fund.

“It is a great tool for us to create a structure that will inform future farm bills of what is promoting carbon sequestration, what is promoting precision farming, what is promoting soil health and regenerative farming practices,” said Vilsack upon his Senate confirmation this month Listen.

Vilsack, who served as President Barack Obama’s Agriculture Secretary for eight years, has also asked Congress to set up an advisory group of farmers to help build a carbon market and ensure farmers get the benefits.

The government’s drive to promote on-farm carbon sequestration could support an emerging on-farm emissions reduction market and the technological advances that help farmers improve soil health and participate in carbon trading markets.

An emerging market

Some farmers have partnered with non-profit environmental and political groups to work on environmental sustainability. The movement was also increasingly supported by private companies.

Indigo Ag, a start-up advocating regenerative farming practices, said companies like Barclays, JPMorgan Chase and Shopify have committed to buying agricultural carbon credits that will help farmers with transition costs.

Chris Harbourt, global director of carbon at Indigo Ag, said the company is working with growers to remove financial barriers during the transition and provide training on implementing regenerative farming practices like growing cover crops off-season or switching to no-till crops to offer.

“Growers who use regenerative practices see benefits that go well beyond financial ones,” said Harbourt. “The soil is healthier and more resilient, which creates more opportunities for profitable years, even in difficult weather conditions.”

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Erik Fyrwald, CEO of Syngenta, a Switzerland-based seed and crop protection company, said government policies must provide appropriate incentives for farmers to accelerate the transition to regenerative agriculture.

“The incentives must be sufficient and reliable enough to give farmers the confidence to make the necessary investments to implement these practices on their farm,” said Fyrwald.

Poncia, who has twice received government funding from the California Healthy Soil Program to implement sustainable practices on his ranch, hopes the administration can provide enough support to agriculture so that other people can achieve similar results.

“Agriculture wants to support this movement, but it needs help, education and the ability to reduce the risk,” said Poncia. “If the government supports the farmers who get good results, everyone else will follow.”

Categories
Politics

Enterprise allies focus on carbon tax

U.S. President-elect Joe Biden speaks to reporters after making remarks at The Queen in Wilmington, Delaware ahead of the December 22nd, 2020 holiday.

Alex Edelman | AFP | Getty Images

President Joe Biden’s allies in the business world have met to come up with a number of proposals, including a potential carbon tax to help fund an expected $ 2 trillion infrastructure plan.

One of those efforts, which began immediately after Biden was named election winner in late November, is led by longtime ally Biden and New York business leader Dennis Mehiel along with former Dow Chemical CEO Andrew Liveris, according to one person with direct knowledge of the matter .

Mehiel and Liveris have reached out to business leaders across the country to discuss how they believe the Biden administration and Congress could advance funding mechanisms for such a large-scale proposal, the person noted.

The plan is expected to come together after a few months while Biden focuses on the Covid-19 pandemic and economic relief.

Talks with various teams are expected to continue in the coming weeks. Some of the ideas are to be brought to the Biden administration officials and congressional leaders. Senator Chris Coons, D-Del., A confidante of Biden, was also on some of the calls, said the person.

The people on the calls discussed several ideas to pay for the plan, including a carbon tax, the person said.

A carbon tax is a “charge for burning carbon-based fuels (coal, oil, gas),” according to the Carbon Tax Center. “Policymakers could use the resulting revenue to offset these effects, cut taxes for individuals and businesses, reduce budget deficits, invest in clean energy and climate adaptation, or for other purposes,” according to the Tax Policy Center.

The idea of ​​a carbon tax previously emerged in the Obama and Trump administrations.

Reuters reported in 2017 that Republican officials went to Trump with the idea of ​​a carbon tax and the White House later pushed that concept back.

Brian Deese, who also served as an advisor under Obama before becoming Biden’s director of the National Economic Council, reportedly said in 2016 that carbon tax would not be levied under that administration due to the congressional deadlock.

This time around, however, the dynamic in Congress is different: the Democrats have a small advantage in the Senate after winning the Georgia runoff, and Vice President Kamala Harris is acting as a tiebreaker.

Biden’s plan is not only pushing for large-scale modernizations of bridges and roads, it is also heavily focused on clean energy technologies.

“Biden’s proposal will ensure that national infrastructure and clean energy investments create millions of middle-class jobs that develop a diverse and local workforce and empower communities as we rebuild our physical infrastructure,” the campaign’s plan reads.

Mehiel declined to comment. Liveris and Coons did not respond to requests for comment.

Liveris also chaired former President Donald Trump’s production council before it was disbanded after Trump criticized the deadly violence of white supremacists in 2017 in Charlottesville, Virginia.

Despite Trump’s efforts to improve American infrastructure and his administration’s numerous attempts to focus on the matter, the former president has been unable to find a way to push a large package forward. He reportedly disagreed with his own administration regarding the structuring of the initiative.

Henry Cisneros, who was secretary for housing and urban development in the Clinton era, runs a company that identifies infrastructure goals for the Biden administration, CNBC reported on Wednesday.

In an interview with CNBC’s Shepard Smith, Cisneros said he expected the Biden government to push for a “really significant infrastructure package” in a few months.

Cisneros said he recently took part in a study that looked at how the coronavirus pandemic has changed infrastructure priorities for different cities. Those who said it changed their infrastructure priorities said they now believe they need to upgrade their broadband, transit and medical facilities.

Pete Buttigieg, former Democratic presidential candidate and ex-Mayor of South Bend, Indiana, is Biden’s nominee for the Department of Transportation. The department will be responsible for implementing much of the president’s vision to rebuild the country’s infrastructure.

During his confirmation hearing on Thursday, Buttigieg said that improving infrastructure would help the economy grow.

“We need to ensure that all of our transportation systems – from aviation to public transportation to our railways, roads, ports, waterways and pipelines – are securely managed at this critical time as we work to fight the virus,” said Buttigieg.

Buttigieg himself proposed a $ 1 trillion infrastructure plan when he ran for president during the Democratic primary.