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All animals need energy to live. They use it to breathe, circulate blood, digest food and move. Young animals use energy to grow, and later in life, to reproduce. Increased body temperature increases the rate at which an animal uses energy. Because cold-blooded animals rely on the thermal conditions of their environment to regulate their body temperature, they're expected to need more energy as the planet warms. However, our new research, published today in <keyword id="919191" type="General" weightage="80" keywordseo="nature-climate-change" source="Orion">Nature Climate Change</keyword>, suggests temperature is not the only environmental factor affecting the future energy needs of cold-blooded animals. How they interact with other species will also play a role. Our findings suggest cold-blooded animals will need even more energy in a warmer world than previously thought. This may increase their extinction risk. What we already know The amount of energy animals use in a given amount of time is called their metabolic rate. Metabolic rate is influenced by a variety of factors, including body size and activity levels. Larger animals have higher metabolic rates than smaller animals, and active animals have higher metabolic rates than inactive animals. Metabolic rate also depends on body temperature. This is because temperature affects the rate at which the biochemical reactions involved in energy metabolism proceed. Generally, if an animal's body temperature increases, its metabolic rate will accelerate exponentially. Most animals alive today are cold-blooded, or "ectotherms". Insects, worms, fish, crustaceans, amphibians and reptiles - basically all creatures except mammals and birds - are ectotherms. As human-induced <keyword id="6361617" type="General" weightage="20" keywordseo="climate-change" source="Orion">climate change</keyword> raises global temperatures, the body temperatures of cold-blooded animals are also expected to rise. Researchers say the metabolic rate of some land-based ectotherms may have already increased by between 3.5% and 12% due to climate warming that's already occurred. But this prediction doesn't account for the animals' capacity to physiologically "acclimate" to warmer temperatures. Acclimation refers to an animal's ability to remodel its physiology to cope with a change in its environment. But rarely can acclimation fully negate the effect of temperature on metabolic processes. For this reason, by the end of the century land-based ectotherms are still predicted to have metabolic rates about 20% to 30% higher than they are now. Having a higher metabolic rate means that animals will need more food. This means they might starve if more food is not available, and leaves them less energy to find a mate and reproduce. Our research Previous research attempts to understand the energetic costs of climate warming for ectotherms were limited in one important respect. They predominantly used animals studied in relatively simple laboratory environments where the only challenge they faced was a change in temperature. However, animals face many other challenges in nature. This includes interacting with other species, such as competing for food and predator-prey relationships. Even though species interact all the time in nature, we rarely study how this affects metabolic rates. We wanted to examine how species interactions might alter predictions about the energetic costs of climate warming for cold-blooded animals. To do this, we turned to the fruit fly (from the genus Drosophila). Fruit fly species lay their eggs in rotting plant material. The larvae that hatch from these eggs interact and compete for food. Our study involved rearing fruit fly species alone or together at different temperatures. We found when two species of fruit fly larvae compete for food at warmer temperatures, they were more active as adults than adults that didn't compete with other species as larvae. This means they also used more energy. From this, we used modelling to deduce that species interactions at warmer global temperatures increase the future energy needs of fruit flies by between 3% and 16%. These findings suggest previous studies have underestimated the energetic cost of climate warming for ectotherms. That means purely physiological approaches to understanding the consequences of climate change for cold-blooded animals are likely to be insufficient. Let's get real Understanding the energy needs of animals is important for understanding how they'll survive, reproduce and evolve in challenging environments. In a warmer world, hotter ectotherms will need more energy to survive and reproduce. If there is not enough food to meet their bodies' energy demands, their extinction risk may increase. Clearly, we must more accurately predict how climate warming will threaten biodiversity. This means studying the responses of animals to temperature change under more realistic conditions. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/startup-fundraising-hits-an-8-month-low-in-february-falls-over-83-yoy/articleshow/98390347.cms">Startup fundraising hits an 8-month low in February, falls over 83% YoY</a> <a href="https://www.businessinsider.in/business/auto/news/tractors-commercial-vehicles-drive-auto-sales-in-february-but-el-nio-threat-looms-large/articleshow/98386451.cms">Tractors &amp; commercial vehicles drive auto sales in February but El Niño threat looms large</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-group-stocks-rally-after-it-sells-stake-to-gqg-partners/articleshow/98384846.cms">Adani group’s marketcap rises by over ₹2 lakh crore in four days</a>

'Let's get real': scientists discover a new way climate change threatens cold-blooded animals

<ul><li>The Australian government officially moved the rodent-like Bramble Cay melomys to the ‘extinct’ species list. </li><li>The species’ only known home was the world’s largest coral reef system, the Great Barrier Reef. </li><li>The extinction of the Bramble Cay melomys is reported as the first casualty of climate change. </li></ul>Scientists have long asserted that coral reefs are the most vulnerable ecosystems to climate change and the environmental threat has reportedly claimed its first casualty — the Bramble Cay melomys. Residing in the world’s largest coral reef system, the Great Barrier Reef, the rodent-like animal hasn’t been seen in over a decade according to researchers from Queensland — and they’ve been looking since 2014. Australia’s Ministry of Environmental officially shifted the Bramble Cay melomys to the ‘extinct’ list on Tuesday. 
 
 <div type="ExtQuote" text="Significantly, this probably represents the first recorded mammalian extinction due to anthropogenic climate change." auname="Queensland state government report"></div>



 A study from 2016 even <a href="https://environment.des.qld.gov.au/wildlife/threatened-species/documents/bramble-cay-melomys-survey-report.pdf">stated</a> that human-induced climate change was primary reason behind the loss of the species. The Australian government has been <a href="https://d3n8a8pro7vhmx.cloudfront.net/auscon/pages/5148/attachments/original/1513033223/ACF-WWF_Pre-Budget_Submission_2018-19.pdf?1513033223">criticized</a> for not doing enough to protect endangered species, not only in terms of policy, but also in terms of not allocating enough funds for conservation. In 2017, the National Academy of Sciences <a href="https://www.pnas.org/content/114/30/E6089/tab-article-info">published</a> a paper that warned of Earth’s sixth mass extinction event already being underway resulting in ‘biological annihilation’. They analysed that there was a high degree of population decay in land-based vertebrate species — even in population of ‘species of low concern’. See also: <a href="https://www.businessinsider.in/why-the-staggering-costs-of-climate-change-on-india-are-much-more-than-monetary-losses/articleshow/66161296.cms">Why the staggering costs of climate change on India are much more than monetary losses</a> <a href="https://www.businessinsider.in/Scientists-say-these-10-major-cities-could-become-unlivable-within-80-years/articleshow/67949693.cms">Scientists say these 10 major cities could become unlivable within 80 years</a> <a href="https://www.businessinsider.in/how-climate-change-is-taking-a-toll-on-indian-tea/articleshow/67437378.cms">How climate change is taking a toll on Indian tea</a>

Climate change claims its first casualty in world's largest coral reef system

With third-largest carbon and greenhouse gas emissions in the world, India cannot probably walk away from its responsibilities of being a prominent player in the <keyword id="6361617" type="ORGANIZATION" weightage="20" keywordseo="Climate-Change">Climate Change</keyword> Dialogue. While international climate change negotiations are underway with talks and negotiations being tabled in Paris in a few months, India is perhaps the most discussed nation at the moment. Where do Indians stand with their commitment towards saving the earth for our children? 
 
Not too many bright spots to count at the moment. Whether it is Prime Minister Narendra Modi’s innovative ideas that were almost pooh-poohed at, such as cycling to work or switching the street lights off on full moon nights; or better still, looking at Yoga to answer all the climate change queries, the country is in a bit of a fix with climate change dialogues. 
 Indian government has fixed its priorities pretty robustly in the given situation where internal challenges stalk the country more than external and lofty commitments. The country, which is on the verge of a major economical change, cannot and should not, talk about commitment to the <keyword id="6356826" type="COMPANY" weightage="20" keywordseo="environment">environment</keyword>. Prime Minister Narendra Modi’s comments on the ‘developed nations’ drew flak. He said those nations which plundered the natural resources and abused the earth to create a cushy environment are more responsible to take right steps than having to shift the responsibility on India, which worships almost every aspect of nature. A pagan nation, at that! 
 
Despite this, India joins a select few countries, the list that is still growing, to make very significant efforts to show the world they are willing to do what it takes, to slow down the greenhouse gas effect. However, this was not so in the recent past. India had almost flatly refused to quantify its targets on reducing the greenhouse gas emissions, on the basis that this would come in the way of poverty alleviation through creation of jobs and industries. 
 
That way, talking on climate change is a tough challenge for India which is still working to create food security for its 1.25 bn population which is growing in leaps and bounds even as the country brings some facts and figures to the Paris meet. 
 
The fact that climate change has become a major topic of discussion in the recent times especially with India being in the centre of this entire gamut of negotiations is an undeniable fact. Political analysts and experts believe though India is the third largest emitter of greenhouse gases, it should be given a free way to chart its own course towards the climate change agenda owing to the fact that the country is on the throes of economic shift. This will only make things better for both US and China to deal with the emerging India that would be far more responsible and accountable. 
 
Way back in 2014, China and US had come to agree that as nations, they had greater accountability than other nations on issues pertaining to climate change. The Lima Conference of Parties in some ways contravened the North-South firewall as it sought details from stakeholders at a larger level. But, on the contrary, it somehow stressed the historic differences between nations pertaining to stakes and accountability aspects. 
 
The most important breakthrough came in the form of China-US bilateral agreement on carbon emissions accepting certain terms and conditions that there was a specific time when these emissions could peak. 
 
Both countries also took the lead and said they had more responsibility on the matter than the other nations to arrive at an effective global agreement. 
 
The similarities between China and India are way too stark to ignore them. India is of the opinion that developed countries need to account for the fact that they industrialized themselves way before China and India did. As a result, climate change today has more urgency to be spelt out than the other topics. But, the crux of the matter lies in the fact that India needs to go into full-fledged industrialization with a bit of caution than China, because the neighbour is already bearing the brunt of emphasizing too much on production than smart innovation. 
In this spectrum of common-yet-differentiated responsibility, India finds itself in a tricky position. The country now finds itself sandwiched between nations that industrialized long ago, and are reaping the benefits of security and basic rights of their citizens strengthened, while India has a long road ahead. 
 
The nations that now speak of using expensive adaptation of renewable energy can afford it, owing to economic security factor. India is in a dilemma. At crossroads between emerging as an economically stronger nation, and a climate-responsible one at that, India really has to choose from the two equally important and imminent choices. 
 
The upcoming climate change meet will see India in a new light, with respect to the matter. This will be a cure indicator as to where India is headed. Will it toe the line of international players who will scuttle its choices inlands, or stand strong and choose to take the path of self-sustenance before being climate-responsible? 
 
 
 
(Image credits: klorotechpavers.com)

Climate
change: World looks at India, but where’s India looking?

<ul class="summary-list"><li><keyword id="158169" type="CITY" weightage="60" keywordseo="BlackRock">BlackRock</keyword> holds at least $85 billion in investments in <keyword id="6356966" type="UNKNOWN" weightage="60" keywordseo="coal">coal</keyword> companies, a year after it announced a focus on <keyword id="6361617" type="UNKNOWN" weightage="60" keywordseo="climate-change">climate change</keyword>, a report showed.</li><li>BlackRock's policies mean it can invest in firms with less than 25% of revenues coming from coal, while its indexing products make it intertwined with big polluters.</li><li>The asset manager says it has taken big steps in divesting from polluters, creating <keyword id="77363" type="ORGANIZATION" weightage="60" keywordseo="ESG">ESG</keyword> funds, and pushing for change at companies.</li></ul>At least $85 billion of assets managed by BlackRock are invested in coal companies, according to a new report, a year after the world's largest asset manager pledged to dramatically reduce its exposure to polluters.BlackRock's policies mean it can still invest in firms that make less than 25% of their revenues from coal, such as Glencore, and its indexing products leave it with heavy exposure to the industry, campaign groups Reclaim Finance and Urgewald said in a <a href="https://reclaimfinance.org/site/en/2021/01/12/one-year-on-blackrock-still-addicted-fossil-fuels/">report published on Wednesday</a>.It comes a year after Fink said <a href="https://www.businessinsider.com/climate-change-focal-point-of-blackrock-strategy-larry-fink-letter-2020-1">BlackRock would take a range of measures</a> to position the company to help tackle climate change and to benefit from the low-carbon transition. They included "exiting investments that present a high sustainability-related risk, such as thermal coal producers".Yet Lara Cuvelier, sustainable investment campaigner at Reclaim Finance, today accused BlackRock of "greenwashing". Cuvelier called on the world's biggest asset manager, which manages around $8 trillion in assets, to do more.Read more: <a href="https://www.businessinsider.com/etfs-to-buy-picks-predictions-ark-bitcoin-cannabis-geraci-2021-2021-1" target="_blank" rel="noopener noreferrer">An ETF expert breaks down his top 5 predictions for the industry in 2021 - including 4 funds that are among the best to buy, and why ARK Invest won't be able to repeat its dominance</a>"It's hard to see <keyword id="47013" type="PERSON" weightage="60" keywordseo="Larry-Fink">Larry Fink</keyword>'s sustainability commitment as anything other than greenwashing," Cuvelier said."If he really wants BlackRock to be a climate leader instead of a climate pariah, he needs to start aligning green words with green deeds, and direct BlackRock's awesome financial power towards a sustainable future. After the hottest year on record, the bare minimum for BlackRock is to get out of coal once and for all."BlackRock argues that it has already taken major steps, such as divesting fully from firms that make 25% or more of their revenues from thermal coal.It also stresses that it offers the widest coverage of environmental, social, and corporate governance funds on the market and is transparent about which companies and sectors its indexes contain.However, the report highlighted how BlackRock's climate policies mean it does not have to divest from polluting companies with expansion plans. BlackRock holds $24 billion worth of investments in such companies, including Sumitomo and KEPCO, the report said.The investment giant's indexes are also not covered by the policy. Index funds track certain <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> or other indexes - say the UK's <a href="https://markets.businessinsider.com/index/ftse_100">FTSE 100</a>, which is full of miners and energy firms - requiring indexing companies to invest in certain firms that may be big polluters. This means BlackRock can still invest in every coal company in the world through its index products.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-strongest-sales-growth-2021-goldman-sachs-2021-1" target="_blank" rel="noopener noreferrer">Goldman Sachs says to buy these 29 stocks poised to deliver the strongest sales growth through year-end</a>A BlackRock spokesperson said: "Our conviction is that climate risk is investment risk. Among the many initiatives to help our clients navigate this risk, we have both achieved 100% ESG integration in our active strategies."Across index strategies, we provide clients choice - through the industry's largest ESG index offering - as well as transparency and engagement."We ask all companies to disclose how their business model will be compatible with the transition to a low-carbon economy. Where we do not see sufficient progress, we take voting action."

BlackRock holds $85 billion in coal investments despite Larry Fink's focus on climate change, report shows

<ul class="summary-list"><li>A photo of a <keyword id="477862" type="CITY" weightage="60" keywordseo="Patagonia">Patagonia</keyword> tag that says "vote the a--holes out" has been widely shared on Twitter.</li><li>Patagonia confirmed to Business Insider that the tags are real, and said they can be found on the brand's 2020 Road To Regenerative Organic Stand-Up Shorts.</li><li>Patagonia's founder, Yvon Chouinard, has used the phrase over the last several years to refer to politicians who deny <keyword id="6361617" type="UNKNOWN" weightage="60" keywordseo="climate-change">climate change</keyword> because they take oil money, the company said.</li></ul>Patagonia has added a blunt message to the tag on its newest line of shorts: "Vote the a--holes out."The tags are a call to vote against politicians who deny climate change, according to Patagonia spokesperson Tessa Byars."They were added to our 2020 Men's and Women's <a href="https://www.patagonia.com/search/?q=road+to+regenerative+stand+up+shorts&amp;lang=en_USn_US" target="_blank" rel="noopener noreferrer">Road to Regenerative Organic Stand-Up Shorts</a> because we have been standing up to climate deniers for almost as long as we've been making those shorts," Byars said.Business Insider inquired about the message after a <a href="https://twitter.com/StreetFashion01/status/1304825415010320391">photo</a> of the tag was shared widely on Twitter. The message is something the founder of Patagonia, Yvon Chouinard, has been saying for several years, according to Byars."It refers to politicians from any party who deny or disregard the climate crisis and ignore science, not because they aren't aware of it, but because their pockets are lined with money from oil and gas interests," Byars said.Patagonia is known for practicing what it preaches when it comes to environmental impact and labor rights. In April as retailers were getting hammered by pandemic-induced shutdowns, Chouinard <a href="https://www.onepercentfortheplanet.org/stories/a-letter-from-yvon-chouinard">sent a message</a> through his nonprofit, 1% For The Planet, urging business owners to continue giving a percentage of their profits to environmental causes. Chouinard founded 1% For The Planet in 2002 to encourage business owners to donate 1% of their sales to environmental causes.As an addendum to the letter, Chouinard wrote, "P.S. Remember, vote the assholes out — all of those politicians who don't believe we should do anything about climate change. Vote for the planet and against those who would do nothing. We have the power and now is the time to use it."Patagonia also made headlines in March for being <a href="https://www.nytimes.com/2020/05/12/business/patagonia-reopening-coronavirus.html">quick to shut down</a> its <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> stores as well as its online website during the pandemic, while still paying store and warehouse workers during that period. Patagonia's CEO, Rose Marcario, has been politically outspoken, as well. In 2017, she vowed to <a href="https://www.businessinsider.com/patagonia-fights-trump-on-national-monuments-order-2017-5">fight against Trump's order</a> to shrink national landmarks, which put 25 protected lands in danger of losing their status.

Patagonia says its new 'vote the a--holes out' clothing tag is a call to action on climate change

Miami had Andrew.
New Orleans had Katrina.
New York had Sandy.
<keyword id="23461" type="CITY" weightage="60" keywordseo="Virginia">Virginia</keyword> Beach has yet to experience a natural disaster on that scale. 
But it almost certainly doesn't have long before it will.
NOAA has just <a href="http://downloads.usgcrp.gov/NCA/technicalinputreports/Burkett_Davidson_Coasts_Final_.pdf">released</a> a supplemental report to its National <keyword id="6375923" type="PERSON" weightage="60" keywordseo="Climate">Climate</keyword> Assessment that focuses on the threats America's coastlines face.
The report includes the following chart, created by Arizona geosciences professor Jeremy Weiss, showing which of America's largest cities have the greatest percentage of area below sea level. When a storm surge from a hurricane hits, it raises the sea level, and those low lying areas are inundated with water. 
 Virginia Beach is third on the list, after New Orleans and Miami:
<div class="image-container float_right" style="width:610px"><div class="image"></div>Weiss/Arizona</div> 
Virginia Beach also has the fourth-most total assets exposed to <keyword id="6361617" type="ORGANIZATION" weightage="60" keywordseo="Climate-Change">climate change</keyword> — after New Orleans, New York and Miami — meaning they have a lot to lose if a natural disaster struck:
<div class="image-container" style="width:610px"><div class="image"></div><a href="http://www.rms.com/publications/OECD_Cities_Coastal_Flooding.pdf">Risk Management Solutions/OECD</a></div>
That chart is from 2007, so in theory the city has had plenty of time to plan for disaster.
So what has been done to prepare for the seemingly inevitable? It's not clear. In 2009, Virginia Beach <a href="http://www.vbgov.com/government/departments/planning/2009CompPlanProcess/Documents/cp-policy-document-web.pdf">updated</a> its comprehensive planning document to include climate change regulations. The New York Times also <a href="http://www.nytimes.com/2010/11/26/science/earth/26norfolk.html">profiled</a> the city of Norfolk's efforts to adapt to rising sea levels.
But just this month, the state of Virginia <a href="http://leg2.state.va.us/dls/h&amp;sdocs.nsf/By+Year/SD32013/$file/SD3.pdf">issued a report</a> that recommended, "Virginia and its coastal localities should immediately begin comprehensive and coordinated planning effort."
Skip Stiles, head of the Wetlands Watch, a Norfolk, Virginia-based advocacy group, says the area's readiness for a catastrophic storm has been uneven at best.
For instance, while the area has seen its share of severe flooding — especially after an intense Nor'Easter in 2009 — local insurance rates have not changed much to reflect new dangers.
He also says that there's been practically no regional coordination on climate change effects. That's most reflected by the lack of evacuation infrastructure in the area.
An evacuation order "would have to be triggered so far in advance that it wouldn't be effective," he told us by phone. "You'd literally just be in traffic jams for two days."
The greatest danger would seem to be to the Naval Station Norfolk, home of the country's lone nuclear-power aircraft carrier service depot.
Stiles says much of the prep work done by the Navy to address the area's rising sea levels would be classified, although he says it's known that they are not simply standing pat. But it seems likely that defense spending cuts would impede their plans.
And the state would be unlikely to fill the void. Stiles says the coastal cities have been abandoned by Richmond legislators.
"Our state government has not been present on any of this stuff," he said. "They're not telling folks 'it needs to be this much higher.'"

It's Likely Virginia Beach Will Be The Next Major City To Get Destroyed By A Hurricane

<ul class="summary-list"><li>Some of <a href="https://www.businessinsider.com/amazon-double-same-day-delivery-sites-increase-delivery-speed-2023-7">Amazon's millions of orders</a> are being delivered without extra packaging.</li><li>The change is part of the company's efforts to reduce additional costs and address its climate impact, the Wall Street Journal reported. </li></ul>Mountains of brown boxes printed with Amazon's black arrow and blue logo stacked up on doorsteps might be a thing of the past. Already about 11% of Amazon's millions of deliveries are showing up without Amazon's name-brand packaging, the <a href="https://www.wsj.com/articles/amazon-deliver-prime-speed-packaging-a616a135?mod=hp_lead_pos3" target="_blank" rel="noopener">Wall Street Journal reported</a>. Various iterations of these packaging changes have been around at Amazon since 2015, the company told Insider. This current change, to eliminate or cut down on extra packaging and work with brands on new packaging that does not need an additional box, is part of the company's efforts to reduce costs, and address customer feedback and its climate impact. This year, the company has <a href="https://www.businessinsider.com/amazon-double-same-day-delivery-sites-increase-delivery-speed-2023-7">delivered around 1.8 billion packages</a> — which can add up to a lot of <a href="https://www.businessinsider.com/amazons-plastic-air-packets-boxes-circle-the-planet-2022-12">discarded Amazon packaging</a>. But the new packaging, or lack thereof, could cause some concerns. The Journal notes that items like toilet paper, baby wipes, trash bags, and Brita water filters could start showing up in their original packaging for all your neighbors to see. Besides the potential embarrassment of publicizing your purchases, there's a more practical concern of <a href="https://www.businessinsider.com/guides/tech/what-to-do-if-your-package-gets-stolen">package theft</a>.To address those concerns, Amazon shoppers do still have the option to select extra packaging at no additional charge for items in their orders, the company told Insider. To ensure items are arriving to customers undamaged, the company has conducted multiple tests on items it sells to see which packages can be shipped without additional packaging. Only items that have gone through these tests will be shipped without extra packaging, the company said. For other products, Amazon is working with vendors to redesign their packaging so it withstands delivery conditions. Certain items will always be shipped with additional packing, such as items that may require additional privacy, the company said. These items include collectibles, such as some Lego sets where customers may want to keep the original packaging. Through monitoring customer feedback on deliveries, Amazon said it will also adjust what items customers prefer to be shipped with extra packaging.

Your neighbors might soon know when you order toilet paper, trash bags, and other items from Amazon

<ul class="summary-list"><li>Larry Fink, the CEO of $7 trillion BlackRock, announced on Tuesday that the firm would shift its investment strategy to focus on climate change.</li><li>BlackRock will exit investments with a "high sustainability-related risk" and make sustainability "integral" to its investment portfolios, Fink said. </li><li>The announcement received mixed reactions from climate activists. Some said the move is a "major first step on climate action" but others said that "the world's biggest miners and polluters will not be losing any sleep over this." </li><li>Amazon Watch, an organization that advocates for the Amazon rainforest and the indigenous people who live there, called on BlackRock to do more with its influence - including lobbying for action on climate change directly. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>The $7 trillion investment firm BlackRock <a href="https://www.businessinsider.com/climate-change-focal-point-of-blackrock-strategy-larry-fink-letter-2020-1" target="_blank" rel="noopener">announced on Tuesday</a> that it would make climate change the focus of how it does business - and it warned governments and other companies that they should as well.But the announcement received mixed reactions from climate activists, who said the move was a promising first step that leaves more to be done.BlackRock CEO Larry Fink said in his <a href="https://www.blackrock.com/corporate/investor-relations/larry-fink-ceo-letter">annual letter</a> - an influential message closely watched by CEOs and finance executives - that his firm would be <a href="https://www.businessinsider.com/climate-change-focal-point-of-blackrock-strategy-larry-fink-letter-2020-1">changing its investment strategy</a> to focus on climate change. BlackRock will exit investments with a "high sustainability-related risk" like thermal coal producers, and make sustainability "integral" to the way it builds investment portfolios, Fink said. Advocates for climate change action like Moira Birss, finance campaign director at <a href="https://amazonwatch.org/" target="_blank" rel="noopener">Amazon Watch</a>, were "pleasantly surprised about the scale of BlackRock's announcement." She told Business Insider that BlackRock's move is a "very important and significant step in the right direction." But, Birss said, "we don't think it's all that needs to be done by any means." Amazon Watch is a part of the "BlackRock's Big Problem" <a href="https://www.blackrocksbigproblem.com/">campaign</a>, along with organizations like the Sierra Club, the Sunrise Project and ShareAction. Birss said BlackRock has not explicitly pledged to stop investing in fossil fuel companies, which she said contribute directly to climate change. She also called on the investment firm to push the agricultural companies it invests in, such as beef producers in Brazil, to operate more sustainably. Birss also said BlackRock should use its resources to lobby directly for climate change and encourage institutions like the Federal Reserve to join organizations such as the <a href="https://www.ngfs.net/en">Network for Greening the Financial System</a>, whose members include the federal banks of Canada, Mexico, Spain and the United Kingdom, among others.While BlackRock's move shows progress, it's a "pretty minor shift" compared to the scale of climate change, Birss said, adding that it "remains to be seen how much action will actually be taken."BlackRock did not immediately respond to a request for comment.<h2>A mixed reaction from activists</h2>Climate-activism organization <a href="https://rebellion.earth/" target="_blank" rel="noopener">Extinction Rebellion</a>, which has protested outside BlackRock's offices in London, went further, saying that Fink's announcement is being "used to distract from the truth." "The world's biggest miners and polluters will not be losing any sleep over this," Extinction Rebellion said in a statement on Tuesday. "BlackRock remains waist-deep in fossil fuel investments and the world's top backer of companies that destroy the Amazon rainforest and ignore the rights of indigenous people." Diana Best, senior strategist at the <a href="https://sunriseproject.org.au/" target="_blank" rel="noopener">Sunrise Project</a>, said the announcement on Tuesday "instantly raises the bar" for BlackRock's competitors and is the result of an "outpouring of pressure from the global climate movement." Sierra Club campaign representative Ben Cushing said the move was a step in the right direction, "but BlackRock will continue to be the world's largest investor in coal, oil, and gas. It is time to turn off the money pipeline to dirty fossil fuels for good." While activists said Fink's announcement leaves a lot to be desired, Axel Pierron, cofounder and managing director at consulting firm Opimas, said the change in strategy is likely to have a large impact on the industry. "The decision by BlackRock to integrate climate change risk into its investment strategy will have a profound impact [on] the evolution of capital markets activities," Pierron said.He added that BlackRock is not the first to make such a shift, as European asset manager Amundi made similar commitments previously, but that BlackRock's announcement is likely to trigger a shift in the industry "along the entire investment management value chain."

'Pleasantly surprised': Activists say BlackRock's climate change strategy is a good first step, but more needs to be done

<ul class="summary-list"><li>79% of <keyword id="12110853" type="UNKNOWN" weightage="60" keywordseo="executives" source="Orion">executives</keyword> say we're at a tipping point for climate-change response, a Deloitte survey found. </li><li>Executives are well-positioned to advocate for climate-change action. </li></ul>Executives are often the voices of their organization, with the ability to influence their ecosystems and magnify impact beyond their own operations. This makes them inherently well-positioned to lead and advocate for climate-change action. Business leaders have a platform readily available to support their own organizations' <keyword id="12002886" type="UNKNOWN" weightage="60" keywordseo="climate" source="Orion">climate</keyword> transformation efforts, engage their employees in meaningful action, and help further external organizations' steps to fight <keyword id="11896311" type="UNKNOWN" weightage="60" keywordseo="climate-change" source="Orion">climate change</keyword>. When these leaders collectively use their voices, they can effectively collaborate and innovate on <keyword id="11896309" type="UNKNOWN" weightage="100" keywordseo="sustainability" source="Orion">sustainability</keyword> solutions across industries and disciplines.The <a href="https://www2.deloitte.com/global/en/pages/operations/articles/deloitte-cxo-sustainability-report.html?id=gx:2pm:3ad:4cxosurvey2022:GC1000053:6oper:20220118:">2022 Deloitte CxO Sustainability Report: The disconnect between ambition and impact</a>, which polled more than 2,000 C-suite executives across 21 countries, revealed that CxOs — defined as the range of roles across the C-suite — appear to show much higher perception of, exposure to, and concern for climate change than the general public.In fact, 81% of CxOs surveyed said they've been personally affected by climate-change events (e.g., extreme heat, more frequent and powerful storms, flooding), compared to a<a href="https://www2.deloitte.com/global/en/pages/public-sector/articles/the-world-is-ready-for-climate-action.html"> survey</a> of the general public, which found that only 49% reported recently experiencing a climate-related event. This intimate understanding presents leaders with a unique opportunity to share their personal experiences and normalize the view of climate change as a very real and consequential force.Deloitte's research also showed that almost 79% of executives see the world at a tipping point for responding to climate change, but there is a prevailing sense of optimism, as 88% agreed that with immediate action, we can limit the worst impacts of climate change. So how can CxOs become climate changemakers and help tip the scales in favor of our planet's life span?<h2>Clearly communicate the organization's climate change strategy, how it was developed, and why it's the right one for the organization </h2>Communicating the organization's climate strategy to stakeholders — including regulators, shareholders, consumers, and employees — is almost as important as determining which climate actions to take in the first place. And with CxOs reporting feeling increased pressure from these stakeholder groups around climate action, transparency on measuring progress and meeting goals are even more crucial. Leaders should involve and engage the whole ecosystem — suppliers, clients, peers, governments, and more — to collaborate, share leading practices, and inspire greater commitments. They can show how the business's climate strategy is both good for the planet and good for the company with credible action plans that use widely recognized frameworks and include tangible, measurable goals and incentives in the short term to help ensure long-term goals stay on track.<h2>Identify the hierarchy of climate actions that affect the greatest change</h2>Early insights into Deloitte Global's 2022 Millennial and Gen Z Survey show respondents ranked sustainability measures such as reduction of plastics and recycling in the workplace as being most important to them. While these actions are highly visible, they are not the actions that make the most impact. CxOs should amplify communication around the "needle-moving" actions they're deploying that demonstrate they have embedded climate considerations into their culture and have the senior leader buy-in and influence to effect meaningful transformation. <div type="image" title="Kathy Alsegaf, Global Internal Sustainability Leader, Deloitte" height="800" width="800" msid="90232861" hostid="261"></div>The less visible needle-moving actions — such as requiring suppliers and business partners to meet specific sustainability criteria or developing new climate-friendly products or services — are less likely to be widely recognized within an organization. However, CxOs should find a compelling way to communicate these less obvious but highly effective sustainability actions. <h2>Make it personal </h2>Leaders should openly discuss the steps they're taking to protect the environment. Whether it's composting, reducing travel, or eating less meat, leading by example may inspire others to follow suit. Given the number of CxOs who indicated they've been personally impacted by climate change, they can seize the opportunity to share insight into their own experiences, normalize it as an issue impacting people at all levels, and reinforce that no one is immune from the effects of climate change.<h2>Be optimistic but realistic</h2>CxOs need to infuse optimism into workplace culture to catalyze action. While recent reports show the current environment can lead to defeatism and inaction, leaders with a positive mindset will help to motivate employees and challenge the notion that it's too late to make a difference. Clear, authentic, and frequent communication — backed up by real commitment and progress — is central to all four steps in becoming a climate changemaker. CxOs that increase transparency and prioritize climate change by voicing their personal experiences can prove that collective action outweighs inaction, tipping the scales in favor of a more prosperous and prolonged existence for the Earth and its inhabitants. Kathy Alsegaf is the Global Internal Sustainability Leader at Deloitte

4 steps climate-conscious executives can take to become changemakers

<ul class="summary-list"><li>Summer 2021 is a <keyword id="1484485" type="PERSON" weightage="60" keywordseo="climate-crisis">climate crisis</keyword>, from the Florida condo collapse to the Northwest heat dome to NYC's tropical storm.</li><li>Experts say people are becoming more aware of the climate crisis as a force, but not its wide-ranging effects.</li><li>Meanwhile, a potential <keyword id="17408" type="PERSON" weightage="60" keywordseo="infrastructure">infrastructure</keyword> package with pared-down climate measures looms on the horizon.</li></ul>The toll of the climate crisis on daily life has become increasingly clear. Just ask President Joe Biden."Interesting to me - I didn't raise it - but how many of the survivors and how many of the families talked about the impact of global warming," Biden <a href="https://www.businessinsider.com/biden-florida-condo-collapse-survivors-families-are-going-through-hell-2021-7">told reporters</a> after meeting with the families of victims in the Surfside, Florida condo collapse.The tragedy in Southern Florida that killed at least 18 people and left as many as 145 missing wasn't the only sudden catastrophe with climate at its root this summer. Just days earlier, temperatures reached <a href="https://www.insider.com/pacific-northwest-bakes-lcoals-creative-keeping-cool-2021-6#portland-oregon-saw-the-mercury-hit-an-80-year-high-of-112-degrees-on-sunday-a-day-after-a-record-breaking-108-degrees-1">record-breaking highs</a> in the Pacific Northwest amid a deadly "heat dome" that <a href="https://katu.com/news/local/deaths-from-oregons-record-breaking-heatwave-rises-to-107">local medical officials</a> eventually declared a "mass casualty event." Then, New York City's streets and subways <a href="https://www.insider.com/videos-subway-stations-flood-new-york-city-amid-heavy-rain-2021-7">flooded</a> during a tropical storm that recalled Hurricane Sandy's devastation not too long ago.The climate crisis - long a far-off warning or even political talking point - is suddenly a deadly reality. And it's starting to have what one expert called local effects, meaning it's really changing the way people live, hitting the food they eat, places they live, and especially their health. <keyword id="6361617" type="UNKNOWN" weightage="60" keywordseo="climate-change">Climate change</keyword> is an economic issue, now more than ever."People are talking about it as if it's now something we should be considering when talking about the risks that we face as a society - risks to infrastructure, risks to human life," Amir Jina, an assistant professor at the University of Chicago Harris School of Public Policy, told Insider. Going outside will look different. UCLA environmental law professor Sean Hecht said the climate crisis changes "the parameters that have defined our built environment."<h1>The climate crisis is already in your backyard, or your local store</h1>In the Pacific Northwest, some grocery stores <a href="https://www.businessinsider.com/grocery-stores-battle-record-heat-wave-2021-6">stopped selling perishables</a>, and restaurants and other businesses temporarily shuttered due to the heat. Globally, a <a href="https://www.ipcc.ch/srccl/chapter/summary-for-policymakers/">UN report</a> finds that the world's food supply will be gravely impacted by the climate crisis without intervention, and that extreme weather could disrupt food supply chains."We are going to be seeing roads that aren't placed in places that make sense," Hecht said. Communities might not be equipped for less beach or snow, and farmers may need to adjust the crops they're planting. For instance, California's booming $6 billion almond industry was hit hard by a historic drought this year, <a href="https://www.wsj.com/articles/almonds-swept-california-farms-then-the-water-ran-out-11625490000?mod=pls_whats_news_us_business_f">The Wall Street Journal reported</a>, with many farmers forced to simply raze trees they can no longer water."When the world changes around [climate change], these basic legal and then really human expectations start to not match the physical environment. And that creates a lot of conflict," Hecht said.That was apparent for the New Yorkers wading through several feet of water to finish their commutes. Rep. Alexandria Ocasio-Cortez tweeted a video of the flooding and said it makes the case for her Green New Deal, which hasn't yet become law: 'The Green New Deal, which is a blueprint to create millions of good jobs rebuilding infrastructure to stem climate change &amp; protect vulnerable communities, is unrealistic. 'Instead we will do the adult thing, which is take orders from fossil fuel execs &amp;make (sic) you swim to work.'"<h2>The economic impacts have already started, and they'll be unequal</h2>While these extreme weather events illustrate the larger-scale impact of the climate crisis, the smaller-scale impact will hit your wallet soon.On a macro scale, climate change cost the US <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> <a href="https://markets.businessinsider.com/news/stocks/climate-change-impact-on-economy-has-cost-500-billion-fed-2019-11">$500 billion</a> over the previous half-decade, according to a Fed official, and potentially over <a href="https://www.marketwatch.com/story/climate-change-poses-a-systemic-threat-to-the-economy-investors-with-1-trillion-at-stake-warn-the-fed-and-sec-2020-07-21?rss=1&amp;siteid=rss=rss">$1.775 trillion</a> since 1980, according to the NOAA. <a href="https://www.aeaweb.org/articles?id=10.1257/pol.20140296">Research</a> by Tatyana Deryugina in the American Economic Journal found that the economic costs of hurricanes may be greater than previously thought - since the distribution of measures like unemployment insurance goes up.On the individual level, Jina said the costs add up, too. "There's a set of risks involved in anywhere we choose to live or any economic activity we choose to engage in that we need to start thinking about a little bit more," he said. And, of course, the costs aren't felt equally. As Hecht said, whenever there's disruption, people with more resources can better afford to address the disruption. <div type="image" title="Woman wheels away air conditioner during heat wave" height="3024" width="4032" msid="84295708" hostid="261"></div>Hecht says research "very consistently" shows that disruptions are harder on communities with fewer resources, which creates inequity by class, something that "also is correlated in large part with race." <a href="https://science.sciencemag.org/content/356/6345/1362">Research</a> from Jina and other members of the Climate Lab finds that the poorest counties will take the largest income hit from the crisis. As <a href="https://www.healthline.com/health-news/how-climate-change-disproportionately-affects-people-of-color#How-the-environment-can-take-a-toll-on-health-">Healthline reports</a>, the climate crisis disproportionately impacts people of color, such as comorbidities linked to racism exacerbated by rising temperatures, to being redlined into areas more likely to be impacted.<h2><keyword id="426176" type="PERSON" weightage="60" keywordseo="infrastructure-spending">Infrastructure spending</keyword> is (maybe) on the horizon</h2>Meanwhile, climate measures - or lack thereof - have come to the forefront in President Biden's infrastructure proposals.The bipartisan deal that the president struck with a group of senators omits some of his original climate proposals, and pares down spending on others. Democrats have already sent a list of <a href="https://www.businessinsider.com/climate-provisions-house-democrats-bipartisan-infrastructure-deal-biden-2021-7">climate demands</a> for inclusion in a reconciliation bill, including equity for low-income communities and communities of color impacted by pollution, along with a carbon-free grid.<div type="image" title="Joe Biden climate change" height="1332" width="1777" msid="84295711" hostid="261"></div>The federal government can be instrumental when it comes to addressing how we produce and consume energy, the experts said. Actually creating that infrastructure is one important step. Biden has floated his infrastructure deal as one way to both generate jobs and address the impact of climate change, <a href="https://www.businessinsider.com/biden-extreme-weather-wildfire-prevention-infrastructure-plan-lemonade-2021-6">Insider's Ayelet Sheffey reported</a>."We gotta make lemonades out of lemons here," Biden has said. "We have a chance to do something that not only deals with the problem today, but allows us to be in a position to move forward - and create real good jobs, by the way, generate economic growth."Even though Biden has proposed spending up to <a href="https://www.businessinsider.com/biden-infrastructure-bill-package-4-trillion-with-tax-hikes-2021-3">$4 trillion</a> on rebuilding infrastructure, not all of that is focused on climate initiatives. Meanwhile, although Ocasio-Cortez did not initially put a price tag on the Green New Deal, she later clarified its cost would be much higher. "It's not a fun number to say, I'm not excited to say we need to spend $10 trillion on climate, but ... it's just the fact of the scenario," she <a href="https://www.businessinsider.com/alexandria-ocasio-cortez-says-green-new-deal-cost-10-trillion-2019-6">said in 2019</a>. "Let's make sure that when we build a house or rezone an area, that it's not just going to be repeatedly flooded every single year - where the potential insurance costs or the reconstruction costs are going to completely dwarf the construction costs," Jina said. "That just makes simple economic sense."A big part of addressing the situation is in more "mundane" aspects, like updating building codes, Jina said.

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