Good COP, bad COP

Dec 06, 2022 View in browser   By Debra Kahn THE BIG IDEA Time to start sprucing up your biodiversity-related active ownership policies. | AP THE OTHER COP — We haven't forgotten that there are other environmental problems besides climate change. And some of them are just as politically fraught and hard to fix. The U.N.-convened biodiversity summit kicking off Wednesday in Montreal is lower-profile than international climate talks but is just as important, POLITICO's Louise Guillot reports . Countries are behind on their 2020 goals to preserve nature, the loss of which will lead to more food crises, deep economic losses and worse climate change impacts. The tensions are similar to those in climate negotiations: A group of more than 100 countries is pushing for the final text to include a binding target to put 30 percent of the world's lands and oceans under protection by 2030. But developing countries have repeatedly said that setting higher nature protection targets should come with more funding, particularly from wealthy countries. China is in the driver's seat, as president of this year's talks, and will be in the position of having to help reach compromises on thorny issues — such as securing financing for biodiversity and reining in resource-intensive agriculture and fisheries. But Beijing hasn't said much or expended much political capital trying to get countries behind any specific proposal. Negotiators and experts say it's not clear what the Chinese hope to achieve at the summit. The U.S. is almost totally sidelined, having never ratified the underlying U.N. Convention on Biological Diversity that would allow it to vote. The key dynamic will instead be between China and Canada, which is stepping in as host due to China's draconian Covid restrictions. China-Canada relations are frosty as it is, with Canadian Prime Minister Justin Trudeau accusing Beijing last month of interfering in federal elections. Trudeau has signaled that he will push for an ambitious deal, saying: "If Canada and the other largest countries in the world don't step up hugely, all the extraordinary efforts of the smaller countries around who are leading on this charge won't be enough either." It's striking that the biodiversity movement doesn't see the need for inspirational messaging à la climate: "I'm 40 years into conservation biology and I can tell you we are losing badly, getting our asses kicked," Dan Ashe , director of the U.S. Fish and Wildlife Service during the Obama administration, told the Intercept . "There are almost no reasons to be optimistic." Private sector, take note: Biodiversity-themed investment funds, engagement initiatives and reporting policies are nascent compared to the climate space but are starting to pick up. There are 14 investment funds targeting biodiversity, totaling $1.6 billion in assets, according to a Morningstar report released Monday. THE BIG IDEA, PART 2 THE OTHER OTHER U.N. TALKS — Countries remained split on what a global plastics treaty should look like as the first round of negotiations came to a close on Friday in Uruguay, POLITICO's Leonie Cater relays. (The split is between the E.U.-backed "High Ambition Coalition," which wants global bans and restrictions to eliminate "problematic plastics," and the other side , pushed by countries including the U.S. and Saudi Arabia, which favors a Paris Climate Accords-style approach whereby each country sets its own measures.) Reminder: Countries were never going to resolve those differences in the first round of negotiations, which were aimed at hashing out more technical details like voting procedures — a thornier subject than it sounds. Certain countries have expressed doubts over the voting rights of regional economic integration organizations like the EU. That means decisions while the issue remains unresolved require consensus among all countries — a potential stumbling block for the future treaty, NGOs are warning. "Veto powers in decision-making always lower the ambition to the lowest common denominator," Zero Waste Europe Director Joan Marc Simon said in a statement . "Effectively, this puts most of the world population's fate in the hands of a few, whose economic interests pass through continuing to make money by destroying the planet."   POLITICO APP USERS: UPGRADE YOUR APP BY DECEMBER 19! We recently upgraded the POLITICO app with a fresh look and improved features for easier access to POLITICO's scoops and groundbreaking reporting. Starting December 19, users will no longer have access to the previous version of the app. Update your app today to stay on top of essential political news, insights, and analysis from the best journalists in the business. UPDATE iOS APP – UPDATE ANDROID APP .     BUILDING BLOCKS Today's offshore wind lease sale has been in the works since 2016. | John Moore/Getty Images WIND SALE — We're watching the first-ever offshore wind auction today for federal acreage off the West Coast — a significant milestone for the budding U.S. industry that's so far stuck to leasing waters in the Atlantic. It'll be the first sale of U.S. leases that can hold floating offshore wind platforms, too. There are 43 qualified bidders, POLITICO's Kelsey Tamborrino reports. BUY BUY DOMESTIC — More tension between protectionist and clean-energy priorities: Charging station companies are worried about "Buy America" requirements set to take effect next month for electric vehicle charger manufacturing, Andres Picon reports for POLITICO's E&E News . U.S. manufacturing of EV charger materials is still nascent and ramping up gradually, meaning there's a high risk of bottlenecks and holdups as states and companies compete for a limited supply of domestic manufacturing options. They're optimistic, though, given that the Transportation Department earlier this year issued its proposal to delay implementation until January for the sake of "public interest." Another limited delay seems likely, said Brendan Jones, president of Blink Charging. AROUND THE NATION SLOW STREETS — We're also watching today's vote in San Francisco on whether to make 15 pandemic-era "slow streets" permanent. The proposal in front of the San Francisco Municipal Transportation Agency would protect street closures on about 15 miles of roads, out of 45 miles that had originally been closed to through traffic. Park and pedestrian advocates are excited but want the city to go much further. "They're making a great step in the right direction, but it's not enough," said Luke Spray, associate director of strategic partnerships for the nonprofit San Francisco Parks Alliance. A coalition of groups put out a "People's Slow Streets Plan" last month that envisions a connected network of 100 miles of protected thoroughfares. Relatedly but counterpointedly: A recent paper from a George Mason University business professor estimates that removing one stop sign from every four-way stop could save a billion gallons of gas per year. (What if the drivers are on their phones, though?) Movers and Shakers SPINDLE TO SUBSTACK — Two-month-old news startup Semafor — which distinguishes itself by giving reporters a platform to share their opinions alongside the news — is having trouble finding a balance. Climate editor Bill Spindle announced his departure Friday and said on Twitter it was due to "an over-dependence on Chevron advertising." He didn't say it affected the coverage — just the potential perception of it. He said he'd pushed back on it and gotten the ads removed from his newsletter, but they kept appearing next to his stories. WISE TO GREEN BANK — White House staffer Jahi Wise will serve as interim director of EPA's new $27 billion loan fund for projects that reduce greenhouse gases, the agency announced Monday. Created as part of the Democrats' climate spending bill this year, the program is formally known as the Greenhouse Gas Reduction Fund but colloquially called the Green Bank. Wise was previously policy director at the nonprofit Coalition for Green Capital, where he helped develop the concept of a national green bank. More from E&E's Jean Chemnick here . SUSTAINABLE FINANCE GREEN GRAB — Public comments that were due Monday on EPA's green bank plans show a tug-of-war over who will distribute the money, Avery Ellfeldt reports for POLITICO's E&E News. Some, including members of the Coalition for Green Capital, say the agency's $20 billion in general funding should be under the control of a centralized financing entity to better establish a durable financial platform. But community development experts, credit union trade groups and environmental organizations say it would be a mistake to pump $20 billion into a new, Washington-based entity with no proven track record — or historic ties to the communities that need the funding most. YOU TELL US GAME ON — Welcome to the Long Game, where we tell you about the latest on efforts to shape our future. We deliver data-driven storytelling, compelling interviews with industry and political leaders, and news Tuesday through Friday to keep you in the loop on sustainability. Team Sustainability is editor Greg Mott , deputy editor Debra Kahn and reporters Jordan Wolman and Allison Prang . Reach us all at gmott@politico.com , dkahn@politico.com , jwolman@politico.com and aprang@politico.com . Want more? Don't we all. Sign up for the Long Game . Four days a week and still free! WHAT WE'RE CLICKING — Renewables will become the biggest source of electricity generation by 2025 on the back of increased need for energy security, the IEA predicts . — Less-good news on the liquid fuels side: Airlines are warning that sustainable aviation fuel will push up ticket prices, Reuters reports . — This story doesn't really establish why perfume is any less sustainable than anything else, but of course there's a sustainable-perfume marketing push.   POLITICO AT CES 2023 : We are bringing a special edition of our Digital Future Daily newsletter to Las Vegas to cover CES 2023. The newsletter will take you inside the largest and most influential technology event on the planet, featuring every major and emerging industry in the technology ecosystem gathered in one place. The newsletter runs from Jan. 5-7 and will focus on the public policy related aspects of the event. Sign up today to receive exclusive coverage of CES 2023.       Follow us on Twitter Debra Kahn @debra_kahn Greg Mott @gwmott Jordan Wolman @jordanwolman Allison Prang @AllisonPrang   Follow us

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