3 Bits – Proposals, Rings, and More Trees

Bite-sized items of interest about climate news.

  1. SEC Proposal: The SEC issued a new Proposed Rule, currently in the comment phase, that would require publicly traded companies to report on a variety of climate-related business activities and associated risks.  In addition to reporting on Scope 1, Scope 2, and (for Fortune 500-level companies) Scope 3 emissions, companies would also report on climate-related governance, physical risks (by zip code by property), strategic impact of climate-risks on near and long term strategy and performance, and details regarding the company’s climate goals and transition plans.  Just as we are seeing political rhetoric around gas prices versus inflation, the proposed SEC rule will likely stimulate discussions around the trade-offs between climate action and higher prices to customers.  (Sources: The National Law Review, The Sierra Club)
  2. Rings True: Dendrochronologists at the University of Arizona and UCLA are studying how the history of trees, represented in the patterns and variances of their rings, shed light on past climate occurrences and provide insights into projections of future climate events. With an archive of 700,000 samples, scientists have determined that the current 22-year drought (and counting) Western states are suffering is the most severe draught in 1200 years.  The data are also being used by forest managers to better understand the “the frequency, seasonal timing, severity and extent of past fires” to help them prepare for future mitigation, restoration, and forest health. (Source: The Washington Post)
  3. The Maine Event: Maine is getting more attention as a recent study concluded that the forest lands of the state could drive 30% of New England’s efforts to achieve carbon zero by 2050. With 17.6 million acres of trees, 89.1% of the state is forest land. While this does not let anybody or any region off the hook regarding the urgent need to reduce greenhouse gas emissions, it is, however, a very compelling reason to preserve and expand forest lands throughout the US. Forest lands are priceless.  (Sources: Bangor Daily News, USDA)

While the urgency surrounding climate change demands attention, Carbon Credit Cart also wants to showcase where progress is being made and where committed organizations and people are doing their part. We hope you find 3 Bits to be interesting and informative.