Connect with us

Business

US Carbon Credits Scheme Get Cold Reception at COP27 Climate Summit

Published

on

carbon credits

The Biden government has yet to do much to help poor nations deal with climate change, and now it hopes big business will pay. The Biden government has yet to convince Congress or the public to spend more on climate aid through carbon credits.

Now they’re trying to make it easier for private corporations to send money to the developing world in exchange for looking green at home.

John Kerry announced the plan at the Wednesday COP27 climate summit in Egypt. It involves tapping private funds to finance developing nations’ transition to clean energy by selling “high quality” carbon credits to companies trying to make their carbon emissions “net zero.”

Kerry said at a launch event, “We want to put the carbon market to work, deploy otherwise idle capital, and speed the transition from dirty to clean power.”

carbon credits

Environmental groups and climate experts opposed the idea, saying it would encourage polluters to continue. It came a day after the U.N. warned businesses about shady carbon credits.

An activist heckled Kerry as he announced the plan, accusing him of “promoting false solutions” before security guards removed him. Poorer nations criticized wealthier nations at this year’s COP summit for not funding their “green transition.”

The developed world needs hundreds of billions of dollars to ditch coal, oil, and gas, but Congress is reluctant to help.

Kerry said that without more money, climate change could not be stopped.

Kerry’s Energy Transition Accelerator proposal is backed by the Rockefeller Foundation and the Bezos Earth Fund. They hope it will unlock $100 billion for green projects by 2030. Kerry wants it operational by next year’s COP.

Under the plan, verified greenhouse gas emission reductions could be sold as carbon credits. Kerry said PepsiCo and Microsoft are interested in buying them.

Kerry said the credits would have “strong safeguards” Buyers, “not including fossil fuel companies,” need a net-zero CO2 emissions goal and a science-based interim target.

The credits can’t replace deep cuts to their emissions, and they only boost them.

Kerry said these carbon credits would only be allowed to phase out coal power plants in developing nations and create more renewable power. He called that “abuse-proofing.”

Companies, governments, and individuals who want to reduce their carbon footprint buy carbon credits. Environmental and climate activists say they’re problematic because they can’t guarantee reducing emissions.

Emissions from polluting human activities can be offset by farming practices that store carbon, planting trees, or capturing climate-changing gases from smokestacks and other equipment.

These activities are monetized and sold as offsets in net-zero plans.

A U.N. expert panel warned on Tuesday that tougher standards are needed to fight greenwash by companies and investors making net-zero pledges, including a ban on businesses and local governments buying cheap carbon credits instead of cutting their emissions.

Wednesday’s proposal drew skepticism.

coal power

Mohamed Adow, director of a climate and energy think tank, called carbon offsets an “accounting trick” that allows big polluters to continue polluting.

Big cuts in greenhouse gas emissions in both wealthy Northern nations and developing countries in the global South are needed, Adow said, “not rich polluting companies in the north paying to destroy the planet.”

“John Kerry knows the science on climate and what’s at stake for people, but his offsets threaten global efforts to cut emissions,” Adow said.

Climate scientist Bill Hare of Climate Analytics said the proposal shocked the climate summit and many governments.

“Because everyone must reduce emissions at this point in history.” John Kerry’s proposal means companies don’t have to reduce emissions if they buy offsets.

A senior European official questioned the U.S. launch proposal.

The official spoke anonymously due to the sensitivity of the topic.

Micah Carpenter-Lott, the heckler, wanted to call attention to big polluters, wealthy nations’ inaction, and Kerry’s “false solutions.”

“We don’t need to partner with polluters,” Carpenter-Lott said after being kicked out of the U.S. pavilion. “Polluters shouldn’t be here and shouldn’t be allowed to partner with governments because that won’t solve the climate crisis.”

VOR News

Geoff Thomas is a seasoned staff writer at VORNews, a reputable online publication. With his sharp writing skills and deep understanding of SEO, he consistently delivers high-quality, engaging content that resonates with readers. Thomas' articles are well-researched, informative, and written in a clear, concise style that keeps audiences hooked. His ability to craft compelling narratives while seamlessly incorporating relevant keywords has made him a valuable asset to the VORNews team.

Continue Reading

Business

Starbucks Takes On The Federal Labor Agency Before The US Supreme Court

Published

on

starbucks
AP - VOR News Image

After Starbucks dismissed seven employees who attempted to unionize its Tennessee location, a US government agency secured a court order requiring the firm to rehire them. Starbucks now wants the Supreme Court to limit the government’s power in such situations.

The justices will hear Starbucks’ appeal against the National Labor Relations Board, a federal organization that safeguards employees’ ability to organize, on Tuesday. If the court rules with Starbucks, it may make it more difficult for the NLRB to intervene when it claims corporate meddling in unionization efforts.

starbucks

socialist revolution – VOR News Image

Starbucks Takes On The Federal Labor Agency Before The US Supreme Court

The hearing comes as tensions between Starbucks and Workers United, the union that organizes its employees, have begun to subside. In February, the two sides announced that they would resume negotiations with the goal of completing contract agreements this year. Starbucks and union representatives were set to meet Wednesday for their first bargaining session in over a year.

Since late 2021, workers at 420 company-owned Starbucks stores in the United States have voted to unionize, but none of those stores has reached a labor deal with Starbucks.

The issue before the Supreme Court began in February 2022, when Starbucks dismissed seven employees who were spearheading a unionization campaign in Memphis, Tennessee. Starbucks claimed the staff broke company rules by reopening the store after it had closed and invited non-employees, including a television news crew, to enter.

The National Labor Relations Board concluded that the firings were an improper interference with workers’ ability to organize. The agency discovered that Starbucks often permitted off-duty employees and non-employees to stay in the business after hours to create drinks or collect things.

The NLRB requested that a federal district court intervene and order Starbucks to rehire the employees while the case proceeded through the agency’s administrative proceedings. A district court judge agreed with the NLRB and ordered a temporary injunction, forcing Starbucks to rehire the employees in August 2022. After the 6th Circuit Court of Appeals upheld the ruling, Starbucks filed an appeal with the Supreme Court.

According to Workers United, five of the seven workers are still employed at the Memphis shop, with the remaining two active in the organizing drive. The Memphis store voted to unionize in June 2022.

starbucks

Ap – VOR News Image

Starbucks Takes On The Federal Labor Agency Before The US Supreme Court

Starbucks argued that the Supreme Court should intervene because federal appeals courts disagree on the conditions that the NLRB must achieve when seeking a temporary injunction against a firm. Starbucks claims that temporary injunctions can be a significant burden for businesses, as the NLRB’s administrative process might take years.

Since 1947, the National Labor Relations Act, which controls the agency, has permitted judges to approve temporary injunctions requested by the NLRB if they are deemed “just and proper.” In its examination of what happened at the Starbucks outlet in Memphis, the Sixth Circuit needed the NLRB to prove two things: that it had reasonable cause to suspect unfair labor practices occurred and that a restraining order would be a “just and proper” solution.

Other federal appellate courts, however, have required the NLRB to meet a four-factor criteria for obtaining restraining orders, including demonstrating that it was likely to prevail in the administrative matter and that employees would suffer irreparable injury if an injunction was not issued.

Starbucks has petitioned the Supreme Court to make the four-factor test the standard that all courts must follow when considering NLRB injunction cases.

“This court’s intervention is urgently needed,” Starbucks stated in an October court petition. “National employers like Starbucks must defend themselves against years-long injunctions under materially different tests depending on where alleged unfair labor practices occur or where employers reside.”

starbucks

Midwest Socialist – VOR News Image

Starbucks Takes On The Federal Labor Agency Before The US Supreme Court

According to the NLRB, it already assesses the possibility of success before bringing a case to court, so whether courts employ two or four considerations is mainly irrelevant. The agency states that it rarely seeks temporary injunctions from the courts; in the fiscal year 2023, it received 19,869 allegations of unfair labor practices and allowed the filing of 14 lawsuits seeking temporary injunctions.

“The two-part inquiry undertaken by the Sixth Circuit and other courts … subjects board petitions to meaningful scrutiny, and does not call for courts merely to ‘rubber-stamp’ agency requests,” the National Labor Relations Board (NLRB) stated in a filing

SOURCE – (AP)

Continue Reading

Business

Google Fires More Workers Who Protested Its Deal With Israel

Published

on

google
AP - VOR News Image

According to a workers’ representative group, Google fired at least 20 more employees in response to protests over the technology it provided to the Israeli government during the Gaza conflict, bringing the total number of fired employees to more than 50.

It’s the most recent indication of internal conflict at the tech giant, which centers on “Project Nimbus,” a $1.2 billion agreement that Google and Amazon signed in 2021 to provide cloud computing and artificial intelligence services to the Israeli government.

google

arch daily – VOR News Image

Google Fires More Workers Who Protested Its Deal With Israel

Last week, workers staged sit-in protests at Google offices in New York and Sunnyvale, California. The corporation responded by contacting the police, who made arrests.

No Tech For Apartheid, the group coordinating the protests, said the company dismissed 30 staff last week, up from the initial 28 disclosed.

Then, on Tuesday night, Google dismissed “over 20” more employees, “including non-participating bystanders during last week’s protests,” according to Jane Chung, a spokesperson for No Tech For Apartheid, who did not provide a particular figure.

google

cnbc – VOR News Image

Google Fires More Workers Who Protested Its Deal With Israel

“Google’s aims are clear: the corporation is attempting to quash dissent, silence its workers, and reassert its power over them,” Chung said in a statement. “In its attempts to do so, Google has decided to unceremoniously, and without due process, upend the livelihoods of over 50 of its own workers.”

They stated that it fired the extra workers after gathering information from coworkers who were “physically disrupted” and identifying employees who donned masks and did not carry their staff badges to conceal their identity. It did not specify how many were fired.

The corporation denied the group’s allegations, claiming that “every single one of those whose employment was terminated was personally and definitively involved in disruptive activity inside our buildings.”

google

world atlas -VOR News Image

Google Fires More Workers Who Protested Its Deal With Israel

The Mountain View, California-based corporation had previously hinted that more individuals could be dismissed, with CEO Sundar Pichai stating in a blog post that employees would be on a tight leash as the company ramped up its efforts to improve its AI technology.

SOURCE – (AP)

Continue Reading

Business

Tesla Cuts The Price Of Its “Full Self Driving” System By A Third To $8,000

Published

on

tesla
AP - VOR News Image

NEW YORK — Tesla reduced the price of its “Full Self Driving” system — which cannot drive itself and requires drivers to remain attentive and ready to intervene — by nearly a third to $8,000 from $12,000, according to the company website.

tesla

Penn Today – VOR News Image

Tesla Cuts The Price Of Its “Full Self Driving” System By A Third To $8,000

Tesla CEO and billionaire Elon Musk stated in 2019 that there would be a fleet of robotaxis on the road by 2020, but that promise has yet to be fulfilled, and the system must still be supervised by humans.

The cutbacks, which took effect on Saturday, follow Tesla’s decision to trim $2,000 off the pricing of three of its five models in the United States late Friday. That is the most recent example of the difficulties that the electric vehicle manufacturer is facing.

tesla

Electric – VOR News Image

Tesla Cuts The Price Of Its “Full Self Driving” System By A Third To $8,000

Tesla dropped the costs of its most popular model, the Model Y, a small SUV that is the best-selling electric vehicle in the United States, as well as the Models X and S, which are older and more expensive. Prices for the Model 3 car and Cybertruck remained unchanged.

tesla

KBB – VOR News Image

Tesla Cuts The Price Of Its “Full Self Driving” System By A Third To $8,000

The price cut comes a day after Tesla’s stock fell below $150 a share, wiping out all gains recorded in the previous year. The Austin, Texas-based company’s stock price has fallen almost 40% this year due to declining sales and growing competition. Discounted sticker prices are intended to entice more car purchasers.

SOURCE – (AP)

Continue Reading

Volunteering at Soi Dog

Download Our App

vornews app

Trending