Climate Week in New York City kicked off on Sunday, expecting to attract more than 100,000 attendees, industry leaders, policymakers and experts to the week-long event.
The annual conference, which has been held since 2009, has come to rival annual climate and environmental events around the globe, including the United Nations Climate Change Conference, better known as COP .
This year, climate week was made up of more than 600 events across Manhattan. The Washington Examiner has gathered some of the biggest moments from the conference so far.
Wall Street backs nuclear
Several of the world’s top banks started off Climate Week by pledging to support the growth of nuclear energy over the next few decades.
Fourteen financial institutions said on Monday they would back the goals set during negotiations at the 28th United Nations Climate Change Conference last year to triple global nuclear energy capacity by 2050.
The group of institutions includes Abu Dhabi Commercial Bank, Ares Management, Bank of America, Barclays, BNP Paribas, Brookfield, Citi, Credit Agricole CIB, Goldman Sachs, Guggenheim Securities LLC, Morgan Stanley, Rothschild & Co., Segra Capital Management, and Societe Generale.
It was not immediately clear how the financial institutions would support these goals, but they could do so through lending, project financing, bond sales, and other means.
John Kerry on gas
On Monday, former presidential climate envoy John Kerry admitted that certain fuels like natural gas could be used as a temporary clean fuel option compared to coal or oil.
However, Kerry insisted to Axios that this should be short-term as new gas infrastructure projects may become stranded when fossil fuels are no longer used. He also encouraged an accelerated phaseout of fossil fuels to meet net-zero emission goals by 2050.
“We’re not doing that — we’re not implementing,” he said, adding that large-carbon emitting countries like the U.S. are “not doing anywhere near our share.”
Amazon vows more EVs
Earlier during the conference, Amazon said it is committing to growing its fleet of electric vehicles to help reach its climate targets.
Chief sustainability Officer Kara Hurst explained the development during an event at the Acios House Climate Week on Monday. Hurst revealed that the company is planning to buy 100,000 more electric delivery vans to have on the road by 2030.
Currently, Amazon has around 24,000 on the roads.
"Ideas are great, commitments are great, but action is where it's at," Hurst said.
Al Gore takes aim at fossil fuels
Al Gore , the former vice president to Bill Clinton and known environmentalist, has given the climate crisis a new name. For Gore, it all revolves around fossil fuels.
“The climate crisis is a fossil fuel crisis; the fossil fuel industry is the wealthiest and most powerful industry in the history of the world,” he said at Axios House. “They fight ferociously to stop anything that would stop consumption of fossil fuels. They are way better at capturing politicians than emissions.”
Gore insisted that fossil fuel companies are not going to “lead the way” in tackling climate change. He also asserted that banks and financial institutions won’t follow suit “unless they get a lot of pressure and policy changes.”
Wall Street doubts net-zero goals
While some banks are backing established clean energy targets, others climate executives on Wall Street have expressed doubt over the ability to reach net-zero goals by 2050.
This week, Heather Zichal, the global head of sustainability for JPMorgan Chase & Co., explained there needs to be a shift from the goals they no longer think are attainable.
“I’m watching with bated breath the discussion around 1.5C,” Zichal said at a JPMorgan investors event, according to Bloomberg. “Does that continue to be the target, or is there an evolution in thinking?”
She explained that as most organizations have set their own climate goals around benchmarks set under the Paris Agreement, conversations would be more engaging if the goals changed.
“I think it will be more pivotal than probably a lot of people are thinking in terms of what it does to drive the policy conversation,” Zichal said.
California climate campaign
The state of California is calling on one million residents to take climate mitigating measures in their everyday lives in a new campaign.
Launched this week, the Climate Action Counts initiative is looking to empower Californians to adopt certain actions like reducing clothing waste, composing, shopping at farmers markets, using public transportation and planting native trees and plants in their yards.
“Every day, Californians are taking small actions that collectively are helping us create a better world for our kids and grandkids. From saving water and planting trees to taking public transit and being disaster ready — we’re all in this together,” Gov. Gavin Newsom (D-CA) said in a statement.
The campaign expands upon a similar volunteer program launched in the state four years ago, known as the California Climate Action Corp, according to the Los Angeles Times.
While researchers have reportedly said the campaign may encourage residents to make lifestyle changes as they face the effects of climate change, it likely will not help drastically reduce emissions in the state.
Amazon on renewables
On Thursday, Amazon CEO Andy Jassy claimed the tech giant would remain as the number one buyer in the world for renewable energy.
Jassy’s remarks came during a closed event, where he insisted Amazon would stay on top for “several years to come,” according to Axios.
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He pointed to the company’s first nuclear agreement announced earlier this year with Talen Energy to purchase the decades-old Susquehanna nuclear plant in Pennsylvania . “Nuclear is another really important strategy,” Jassy reportedly said.
He explained that if companies want to be carbon-free, they need to invest in alternative energy sources like nuclear, solar, and wind.
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