This week:

–Kern County wildfires: Recent wildfires in Kern County caused major evacuations and extensive damage, highlighting the urgent need for climate action as extreme heat and dry conditions fuel more frequent and severe fires.

–Climate regulation landscape: The SEC’s new climate-risk disclosure rule aims to standardize ESG reporting despite legal challenges. Companies must proactively address regulations and prepare for complex reporting, including Scope 3 emissions.

– Federal rule to protect workers from extreme heat: President Biden announced a rule to protect 36 million outdoor and partially indoor workers. The rule requires employers to implement Heat Injury and Illness Prevention Plans with measures like water provision, rest breaks, and shaded areas. Implementation faces delays and legal challenges, especially in Texas and Florida.

–Impact of Hurricane Beryl: Hurricane Beryl, which hit Texas as a Category 1 storm after devastating Jamaica and Mexico, set records for rapid intensification and highlighted climate risks– underscoring the need for businesses to invest in resilience and prepare for disruptions from extreme weather events.

This week, our team breaks down the Supreme Court’s decision that redefined how federal agencies interpret environmental laws, emphasizing Chevron’s deference.

This legal principle, which requires courts to defer to agency interpretations of ambiguous statutes, has sparked debates over regulatory stability and clarity, particularly in light of challenges like Ohio v EPA. The decision underscores ongoing tensions between judicial oversight and agency expertise in shaping future environmental regulations.

–We’re thrilled to announce that Sustain.Life has been acquired by Workiva, the leading cloud platform for assured integrated reporting!

–The acquisition paves the way for the launch of Workiva Carbon, a groundbreaking platform designed to streamline the measurement, management, and reporting of carbon emissions. Sustain.Life, which is now part of Workiva Carbon, is poised to revolutionize how companies approach sustainability reporting and carbon management.

https://www.workiva.com/solutions/carbon-management

Green hydrogen in Europe: TotalEnergies and Air Products have formed a 15-year partnership to supply green hydrogen to TotalEnergies' European refineries, aiming to reduce CO2 emissions by approximately 5 million tonnes annually by 2030, highlighting a significant step in Europe's clean energy transition.

Rise of solar power in the U.S.: Solar energy is rapidly expanding, with installations increasing fivefold since 2016. The U.S. aims to boost solar capacity to meet 100% clean electricity by 2035, despite challenges like improving storage technology, streamlining permitting processes, and overcoming fossil fuel industry opposition.

We have a special episode for you this week. With the release of the 2024 CDP questionnaire, we thought it would be helpful to share an abbreviated version of a recent webinar to help you prepare for your 2024 submission.

The 2024 CDP questionnaire has arrived, and reporting season is underway. This year's updates include integrating climate, water, and forest disclosures into a single document, simplifying data submission, and enhancing report quality. It features dedicated sections for SMEs and aligns with global standards like TNFD and CSRD, ensuring compliance and investor confidence. New topics cover biodiversity and plastics, and the Activity Classification System tailors questions to specific business models. For a successful submission, organizations should start early, collect high-quality data, engage internally, and align responses with sustainability goals.

Last year, the global average person experienced 26 more days of abnormally high heat due to climate change, significantly impacting vulnerable populations and prompting cities to adopt heat action plans despite the unreliable relief from natural climate patterns like La Niña. Additionally, increased flight turbulence incidents, rising 15% this year, are linked to climate change-altering jet streams. These challenges highlight the need for advanced prediction models, updated air travel safety policies, and better preparedness for evolving aviation risks.

California’s recent budget approval to fund the implementation of SB climate package bills signifies a monumental stride in climate accountability. With $22 million allocated, California must enforce legislation like SB 253 and SB 261, solidifying its position as a leader in environmental regulation. Spearheaded by organizations like Ceres, this funding ensures transparent climate disclosures, empowering companies and investors to navigate climate risks and opportunities with clarity and confidence.