In this week's brief, we're exploring efforts to shift seafood consumption to cope with climate change, India's investment in solar, and interest in transition credits to move away from coal.
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Shifting seafood menus: Climate change is altering the distribution and abundance of fish stocks, making it necessary for seafood restaurant menus to change and incorporate "climate winners" that thrive in warmer water. Kate Masury, executive director of Eating With the Ecosystem, is working to convince the seafood industry to adapt to climate change by promoting these new species, which can help reduce the climate toll of seafood production. Consumer education and awareness are key to scaling up the practice of eating "climate winners", and consumers can play a role by asking their local fish markets about these species and showing interest in trying them.
India invests in solar: India is attempting to reduce its reliance on Chinese solar panels by incentivizing local production to become a major manufacturer of solar panels and other green technologies. The Indian government is offering subsidies for locally produced solar cells and batteries, and restricting foreign products in its largest renewable-energy projects to encourage domestic production. India's efforts to expand its clean-energy business are driven by the need to secure its energy supply chain, create jobs, and potentially become a major exporter of solar panels.
Trump Administration considers routes to expedite nuclear: The Trump Administration is considering executive orders to speed up the construction of nuclear power plants in the US. The goal is to quadruple the nation's fleet of nuclear power plants to 400 gigawatts by 2050, with the Department of Defense potentially playing a key role in ordering reactors. The draft orders propose a "wholesale revision" of federal safety regulations and aim to make it easier to build new plants, with some options including having the US military finance next-generation reactors and streamlining the approval process at the Nuclear Regulatory Commission.
Transition credits gain steam: Verra, a major crediting group, has launched a methodology for generating transition credits from the early retirement of coal-fired power plants. The credits, intended to monetize emissions reductions, have gained support from key buyers such as Amazon.com Inc. and PepsiCo Inc., as well as banks like Standard Chartered Plc and HSBC Holdings Plc. The transition credits aim to channel private capital towards the early phase-out of coal plants, particularly in Asia where much of the region's coal fleet is relatively new.
Shipping industry moves towards decarbonization: The shipping industry is taking steps to reduce its carbon emissions, with a draft agreement under the International Maritime Organization that would require ships to either reduce emissions or pay a fee. Companies like TransOceanic Wind Transport (TOWT) are using wind power to transport cargo, with TOWT's ships navigating over 90% of their route from France to the US using wind power. Ingrid Irigoyen, president of the Zero Emission Maritime Buyers Alliance, believes the industry is making progress, but notes that implementing the agreement and relying on wind power will be challenging, with the draft agreement potentially being adopted in October.
US to stop tracking costs of extreme weather: The National Oceanic and Atmospheric Administration (NOAA) will stop tracking the cost of extreme weather events that cause at least $1 billion in damage. This decision will leave a gap in information for insurance companies, researchers, and government policymakers to understand the patterns and economic consequences of major disasters like hurricanes and wildfires. Researchers and lawmakers, including Senator Ed Markey and experts like Jesse M. Keenan and Erin Sikorsky, have criticized the move, stating it will cripple efforts to set budgets and make informed decisions on infrastructure investment.
States sue over funding for EVs: A coalition led by Washington, Colorado, and California is suing the Trump administration for withholding $5 billion in financing for electric-vehicle charging stations allocated by Congress. The lawsuit claims that the administration's freeze on funding is unlawful and will damage the growing electric-vehicle industry, with states like California standing to lose millions of dollars. The states are seeking a court order to declare the administration's actions unlawful and to release the frozen funds, which were intended to support the National Electric Vehicle Infrastructure program.
EPA to eliminate Energy Star program: The Environmental Protection Agency plans to eliminate the Energy Star program, a popular energy efficiency certification for home appliances. The program, which has been in place for 33 years, has helped households and businesses save over $500 billion in energy costs and prevented four billion metric tons of greenhouse gases from being released. The EPA's decision to shut down the program is part of a broader restructuring effort, which also includes the elimination of the agency's climate change office and other climate-related programs.
Spain shifts defense budget into climate: Spain is allocating 17% of its €23 billion military budget to combat the effects of climate change, including natural disaster relief. The country's Disaster Relief Military Unit (UME) will receive increased funding to expand its fleet of rescue helicopters, bridge-launching vehicles, and airtankers to help extinguish fires. Spanish Prime Minister Pedro Sánchez and UME commander Luis Antonio Rodríguez emphasize the importance of the military's role in responding to climate-related disasters, with the unit's capabilities and equipment being enhanced to address the growing climate crisis.