Ports to Set Specific Decarbonization Targets, Reveals Ministry Secretary of Brazil
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According to Agência Infra, Brazilian ports are set to establish specific decarbonization targets through a government policy that will include dedicated lines of financing for the transition.
Mariana Pescatori, the executive secretary of the Ministry of Ports and Airports, said that “port and airport terminals have not taken actions for decarbonization. However, there is no clear government directive on what should be done. The idea is that the policy defines how a carbon inventory should be conducted, establishes decarbonization goals, and outlines funding mechanisms to make it happen".
Besides, the National Waterway Transportation Agency (ANTAQ) is leading the process of developing what is being called the carbon inventory of the port sector, which is a mapping of all emissions generated by the terminals.
She mentioned that it is from this inventory that it will be possible to understand the reality and set decarbonization goals.
Mexican cities will receive funds to improve street security
Based on Bloomberg, 25 cities in Canada, Mexico, and the United States will receive funds from the Asphalt Art Initiative, up to $25,000, along with technical support each, to implement projects that use art and design to enhance street safety, revitalize public spaces, and engage the community.
The Mexican cities benefiting from this initiative are Colima, Mérida, Puebla, a\nd Mazatlán. The projects involve improving challenging intersections using curb extensions and other tools, reducing conflicts between drivers and pedestrians across a series of intersections, as well as enhancing pedestrian spaces to make them safer.
"The Asphalt Art Initiative has shown that when cities invest in these low-cost projects, streets become safer, and communities become stronger," said Michael R. Bloomberg, founder of Bloomberg Philanthropies.
The Asphalt Art Initiative is inspired by the work done to improve pedestrian safety and revitalize the streets of New York City during Michael R. Bloomberg's mayoralty (2002-2013) and the pro bono consulting of Bloomberg Philanthropies, Bloomberg Associates. As part of its scope, Bloomberg Associates advises cities worldwide on implementing arts-driven street design projects.
Investment in Hydrocarbon Exploration and Production Stabilizes in Peru
According to BNAmericas, investment in the exploration and production of hydrocarbons in Peru has reached a stabilization point, but it still hovers around half of the recent peak recorded in 2019.
Factors such as regulatory uncertainty, socio-environmental conflicts, a prolonged licensing process, and a push for increased state participation have contributed to the challenges preventing a surge in spending.
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The current disbursement is spearheaded by Pluspetrol, which invested $51.4 million and $37.3 million in blocks 88 and 56, respectively, between January and November, according to the latest figures from the Ministry of Energy and Mines.
Pluspetrol's combined investment of $88.7 million in the area - the main natural gas producer in Peru - constituted 33% of the expenditures during the 11-month period, totaling $270 million.
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ESG: Is It Shifting the Paradigm for Business Leaders?
Until a few months ago, the adoption of the ESG (Environmental, Social, and Corporate Governance) agenda was a growing trend in many parts of the world, driven by evolving regulations and the mindset that ESG favors generating investment ideas, reduces risks, improves reputation, resilience to market changes, among other benefits.
However, an article published in early 2024 in The Wall Street Journal titled "The Latest Dirty Word in Corporate America: ESG" has sparked a discussion about the direction of this commitment. The article points out that multiple business leaders are avoiding the use of these acronyms and changing them, for example, to terms like "responsible business," as is the case with Coca-Cola. Meanwhile, ESG funds are being closed on Wall Street.
It is also mentioned that some of the fiercest critics have welcomed the decrease in discussion. "If this trend is diminishing, these CEOs must have realized that this puts them at greater legal risk and costs them customers," said Ken Paxton, the Attorney General of Texas, in a statement cited by The Wall Street Journal.
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