Rachel Koning Beals
Rachel Koning Beals
News Editor focused on the business of climate change at MarketWatch. Opinions are my own. Especially the right ones.Source
Chicago, IL
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More than 4 in 10 people breathe unhealthy air, says American Lung Association — people of color 3 times as likely to live in polluted places

More than 4 in 10 people breathe unhealthy air, says American Lung Association — people of color 3 times as likely to live in polluted places

More than 4 in 10 people (135 million) in the U.S. live with polluted air, placing their health and lives at risk, an annual report from the American Lung Association, released just ahead of Earth Day, shows. People of color were 61% more likely to live in a county with unhealthy air than white people, and three times more likely to live in a county that failed all three air quality grades, , which analyzes data from 2017-2019.“This report shines a spotlight on the urgent need to curb climate change, clean up air pollution and advance environmental justice,” said American Lung Association...

April 21, 2021
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Kerry says Biden poised to issue executive order to force banks and investors to reveal climate exposure

Kerry says Biden poised to issue executive order to force banks and investors to reveal climate exposure

President Joe Biden is set to issue an executive order on climate disclosure within capital markets, a move that could shift investments overall with implications for the fossil-fuel and renewables sectors, according to U.S. climate envoy John Kerry. “President Biden is poised to issue an executive order that will require disclosure,” Kerry said at an International Monetary Fund event Wednesday. “It’s going to change allocation of capital. Suddenly people are going to be making evaluations considering long-term risk to the investment based on the climate crisis.”Kerry made the comments...

April 7, 2021
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Big-polluter India reportedly mulls 2050 net-zero emissions target that would beat China by a decade

Big-polluter India reportedly mulls 2050 net-zero emissions target that would beat China by a decade

Officials close to India’s Prime Minister Narendra Modi are huddling with senior bureaucrats and foreign advisers to draw up a possible 2050 deadline for transitioning to net zero emissions, unnamed people familiar with the matter have told Bloomberg News. A 2047 target is also being considered, those officials said, , a date that marks the centenary of India’s independence from British rule.Coal-heavy India and China, as well as the U.S., hold the top three spots for largest global emitters of greenhouse gases. Read: China, which still draws some 60% of its power from coal, is the top...

March 17, 2021
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Trump reportedly sends cease-and-desist letters to Republican campaign committees

Trump reportedly sends cease-and-desist letters to Republican campaign committees

Attorneys for former President Donald Trump sent cease-and-desist letters Friday to three Republican organizations, asking them to stop using the former president's name and likeness in fundraising appeals and merchandise, a Trump adviser . Politico had first reported the action. The letters were reportedly sent to the Republican National Committee, the National Republican Congressional Committee and the National Republican Senate Committee, which raise money and shape messaging, including as part of the lead-up to the 2022 midterm elections. Ten House Republicans voted with Democrats to...

March 6, 2021
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Biden matches Obama’s ‘social cost of carbon’ for now — it’s a figure roughly 50 times greater than Trump’s

Biden matches Obama’s ‘social cost of carbon’ for now — it’s a figure roughly 50 times greater than Trump’s

President Biden’s climate-change team is temporarily returning to numbers used by the Obama administration to assign monetary value to greenhouse gas emissions. The group indicated in its Friday release that the final values could be higher.The interim estimate puts the average cost of carbon of $51 per ton as they assess the costs and benefits of mandates to curb emissions. The temporary figure calculates the social cost of carbon, adjusted for inflation, and is used by federal agencies. The report could help the Biden administration justify stricter emissions controls. Federal agencies...

February 26, 2021
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For first time ever, majority of shareholders push oil giant Chevron to align with Paris climate pact

For first time ever, majority of shareholders push oil giant Chevron to align with Paris climate pact

Proposals by the Climate Action 100+ investor signatories calling on major oil and electric power companies to disclose lobbying activities and improve governance on climate change earned record support during the latest shareholder proxy season. Notably, a 53% majority of shareholders at Chevron Corp. voted for a resolution seeking a commitment from the oil giant to align its climate-policy lobbying activities with the goal of the Paris Agreement, an international voluntary effort that aims to keep global average temperature rise to below 2 degrees Celsius, and ideally limit it to 1.5...

June 24, 2020
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Why don’t we panic about climate change like we do coronavirus?

Why don’t we panic about climate change like we do coronavirus?

Because “outbreak” and “pandemic” and any of a dozen high-stakes words accompany dispatches about the deadly novel coronavirus, it’s not surprising — nor even ill-advised — that the news media and financial markets respond with alarm to COVID-19.Still, the critical response leaves scientists, environmental advocates and long-view money managers imploring: Where’s the outrage on any given day for pollution- and temperature-linked deaths (already adding up and projected to increase) from accelerating man-made climate change?Where’s the impetus for moving on policy change and market-driven...

March 7, 2020
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Scholar to Trump and Pence: ‘You can’t insult science’ and then expect a command performance with the coronavirus

Scholar to Trump and Pence: ‘You can’t insult science’ and then expect a command performance with the coronavirus

‘I don’t expect politicians to know Maxwell’s equations for electromagnetism or the Diels-Alder chemical reaction (although I can dream). But you can’t insult science when you don’t like it and then suddenly insist on something that science can’t give on demand.’That’s H. Holden Thorp, editor-in-chief of the Science journals. He’s questioning the Trump administration’s rediscovered reliance on science — an area Democrats and select industries argue the White House has severely underfunded — in order to save the world from , and bolster re-election hopes along the way.Thorp was , before the...

March 12, 2020
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Chicago Fed economic index plunges, latest measure to reflect crippling effect of coronavirus on U.S. growth

Chicago Fed economic index plunges, latest measure to reflect crippling effect of coronavirus on U.S. growth

The numbers: A slump in factory output and the hit to employment indicators as the globe buckled under the latest coronavirus pushed the Chicago Federal Reserve’s national economic index deep into negative territory for March.Most economists think April’s anticipated negative reading will be more severe.The Chicago Fed’s index , down from a positive 0.06 in February. It’s the lowest reading since early in 2009, when the economy was suffering under the Great Recession. The volatile nature of the monthly data puts added emphasis on following the index’s less-volatile, three-month moving...

April 20, 2020
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