--- title: "Signals Amidst the Noise: May 19, 2021" description: We curate updates on government, finance and corporate net zero news weekly from the world’s media. Here is today’s update. image: https://www.outrageandoptimism.org/hubfs/banners/GlobalOptimism_SiteBanners_106.jpg --- ![Outrage + Optimism logomark](https://www.outrageandoptimism.org/hubfs/logo/OutrageOptimism_LogomarkOnly_White.svg)Outrage + Optimism ![Down arrow](https://www.outrageandoptimism.org/hubfs/layout/GO_Icons_ChevronDownBlack.svg) [![LinkedIn icon](https://www.outrageandoptimism.org/hubfs/19539524/layout/linkedin-brands-b.svg) Follow on LinkedIn](https://www.linkedin.com/company/outrageoptimism) [![Instagram icon](https://www.outrageandoptimism.org/hubfs/19539524/layout/instagram-square-brands-b.svg) Follow on Instagram](https://www.instagram.com/outrageoptimism/) [![Twitter icon](https://www.outrageandoptimism.org/hubfs/19539524/layout/twitter-brands-b.svg) Follow on Twitter](https://twitter.com/OutrageOptimism) [![YouTube icon](https://www.outrageandoptimism.org/hubfs/layout/youtube-brands-b.svg) Follow on YouTube](https://www.youtube.com/c/outrageandoptimism) ![Logomark](https://www.outrageandoptimism.org/hubfs/logo/OutrageOptimism_LogomarkOnly_White.svg)Close Menu ![Close](https://www.outrageandoptimism.org/hubfs/logo/GO_Icons_CloseBlack.svg) ![Outrage + Optimism logo](https://www.outrageandoptimism.org/hubfs/logo/OutrageOptimism_Logo_V3.svg) ## Behind the scenes on the politics, investments and actions meeting the climate crisis head on ![Arrow](https://www.outrageandoptimism.org/hubfs/layout/GO_Icons_ArrowBlack.svg) ![Global Optimism logo](https://www.outrageandoptimism.org/hubfs/logo/GlobalOptimism_Logo_V2.svg) ## Stubborn optimism is a choice. Join us in tackling the climate crisis with conviction, scale and speed ![Arrow](https://www.outrageandoptimism.org/hubfs/layout/GO_Icons_ArrowWhite.svg) ### Share ![Hands holding plant over soil](https://www.outrageandoptimism.org/hubfs/banners/GlobalOptimism_SiteBanners_106.jpg) This week the highly influential International Energy Agency released its [first full scenario for reaching net zero emissions by 2050 ](https://www.iea.org/reports/net-zero-by-2050)following years of campaigning by many experts and civil society groups. The IEA affirms that no new investments in oil, gas and coal are required from this year, and that the entire global electricity sector will decarbonise by 2040. This report provides the clarity necessary to understand the finishing role for fossil fuels in the transition and should set the trajectory for public and private finance to accelerate the energy transition required to tackle the climate crisis as science demands. - The Biden administration [approved](https://www.axios.com/biden-offshore-wind-climate-change-massachussetts-101a9f39-ffe4-42bd-b3cf-39877b973d34.html) the nation’s first large-scale offshore wind farm project off the coast of Massachusetts. - The Dutch government [granted ](https://www.reuters.com/business/sustainable-business/dutch-govt-grants-24-bln-subsidies-huge-carbon-storage-project-2021-05-09/)$2.4 billion in subsidies to a consortium – involving Shell and ExxonMobil – developing one of the world’s largest CCUS projects in Rotterdam. - COP26 President Alok Sharma [called ](https://www.climatechangenews.com/2021/05/14/uk-calls-countries-consign-coal-history-cop26/)on nations to abandon coal power and make this year’s UN climate summit talks the moment the world “consigns coal to history”. - JPMorgan Chase [announced](https://www.jpmorganchase.com/ir/news/2021/jpmorgan-chase-releases-carbon-reduction-targets-for-paris-aligned-financing-commitment) new carbon reduction targets for its lending portfolio, guided by a new [Carbon Compass Methodology ](https://www.jpmorgan.com/solutions/cib/investment-banking/center-for-carbon-transition/carbon-compass)designed in alignment with the goals of the Paris Agreement. - Adidas and Allbirds unveiled a new [low carbon trainer ](https://www.nbcnews.com/shopping/footwear/adidas-allbirds-sustainable-shoe-n1267111)with a carbon footprint of less than 3kg CO2e per pair – the average running shoe generates around 12.5kg CO2e. - BP and Cemex [announced ](https://www.cemex.com/-/bp-and-cemex-team-up-on-net-zero-emissions)that they would work together on solutions to decarbonise the cement production process and transportation. - Tesla [announced](https://www.axios.com/elon-musk-suspend-tesla-bitcoin-c8226997-c55a-49da-936a-f64ac237bd39.html) it would no longer allow customers to purchase its vehicles using bitcoin due to the cryptocurrency’s significant carbon footprint. - The American Cleaning Institute, representing the US cleaning product supply chain, released an [industry roadmap ](https://www.cleaninginstitute.org/goal-reduce-emissions)for achieving net zero. - The world’s largest iron ore mining companies – BHP, Rio Tinto and Vale – launched a new competition, the [Charge on Innovation Challenge](https://chargeoninnovation.com/), to crowdsource efficient ways to deliver electricity to battery-electric haulage truck fleets at remote mine sites. - Sumitomo Miitsui Financial Group – Japan’s second largest bank by assets – [announced ](https://www.reuters.com/business/sustainable-business/japans-smfg-halt-all-new-financing-coal-fired-power-plants-2021-05-12/)a halt to all new financing for coal-fired power plants, becoming the first major Japanese lender to do so. - 58% of ConocoPhillip’s shareholders passed a [resolution](https://www.reuters.com/business/environment/conocophillips-shareholders-back-proposal-set-scope-3-targets-2021-05-11/) opposed by management requiring it to set scope 3 emissions reduction targets.  - 20.6% of BP’s shareholders votes for a [proposal ](https://www.reuters.com/business/sustainable-business/bp-climate-resolution-supported-by-fifth-shareholder-votes-2021-05-12/)opposed by management to set stronger emissions reduction targets – up from 8.4% in 2019 when the last climate resolution was proposed. - Over 80 major companies and investors [called ](https://www.3blmedia.com/News/Major-US-Businesses-and-Investors-Urge-Biden-Administration-and-Congress-Support-Infrastructure)on US federal lawmakers to support ambitious climate policy action to address the climate crisis and advance environmental justice – includes Amazon, CBRE, Dell, HP, McDonald’s, Microsoft, PepsiCo, Samsung, Siemens and Unilever. - The B7, a group composed of national business associations from the G7 countries, released a[ Climate and Biodiversity Statement ](https://www.cbi.org.uk/media/6626/b7-climate-and-biodiversity-statement.pdf)of principles and recommendations for G7 Climate Ministers ahead of the June G7 summit. - The [Coalition for Decarbonisation of Road Transport ](https://www.greenfinanceinstitute.co.uk/launch-of-the-coalition-for-the-decarbonisation-of-road-transport/#:~:text=The%20Green%20Finance%20Institute%20today,transition%20to%20zero%20emission%20vehicles.)launched, bringing together global experts and leaders from the finance, automotive, energy and infrastructure sectors to accelerate the transition to zero emissions vehicles.  - The Earthshot Prize [hired ](https://www.businessgreen.com/news/4031124/earthshot-prize-hires-long-nike-sustainability-lead-hannah-jones-ceo)Hannah Jones as CEO – Nike’s first ever Chief Sustainability Officer and former innovation lead. - New tools and research: - The IEA first[ full scenario for reaching net zero](https://www.iea.org/reports/net-zero-by-2050), including 400 sectoral and technology milestones to guide the global journey to net zero by 2050.  - New [analysis ](https://www.nature.com/articles/d41586-021-01241-2)shows the power of nature-based solutions – “to limit global temperature rise, we must slash emissions and investor now to protect, manage and restore ecosystems and land for the future.” - The British Retail Consortium [found ](https://brc.org.uk/news/corporate-affairs/retailers-halve-carbon-emissions-since-2005/)that carbon emissions from leading UK retailers have fallen by 49% since 2005. - Clean Energy Ventures launched an open-access [calculator ](https://www.prnewswire.com/news-releases/clean-energy-ventures-launches-open-access-tool-to-identify-the-climate-technologies-worth-investor-attention-301288602.html)to quantify the carbon reduction potential of new climate-related technologies and startups. - [Climate Change Indicators in the United States](https://www.epa.gov/climate-indicators)– EPA. - [Cities on the Route Towards 2030: Building a Zero Emissions, Resilient Planet For All](https://www.cdp.net/en/articles/media/nearly-half-of-cities-lack-plans-to-keep-populations-safe-from-climate-threats) – CDP.   Thanks for reading this week’s digest, we hope you found it useful. Prior ‘Signals Amidst the Noise’ digests – and there are quite a few now! – are available [here.](https://www.outrageandoptimism.org/blog/tag/signals) This week our podcast, *Outrage + Optimism*, features a deep dive into the IEA Net Zero report and a fascinating discussion about the global security implications of the climate crisis with Secretary General of NATO, Jens Stoltenberg. Don’t miss it this Thursday! Available wherever you get your podcasts or at [globaloptimism.com/podcasts](https://www.outrageandoptimism.org/?utm_campaign=Signals%20Amidst%20the%20Noise%3A%20Climate%20Action%20News%20from%20Global%20Optimism) ![](https://www.outrageandoptimism.org/hubfs/layout/GO_GreyLogomark.svg) ## Subscribe to the blog ## Stream the latest episodes ## Latest news stories ![The climate action that matters is in the global south, argues an architect of the Paris agreement](https://www.outrageandoptimism.org/hubfs/shutterstock_2393654307.jpg) ### The climate action that matters is in the global south, argues an architect of the Paris agreement November 17, 2025 ![Brazil can lead the world at COP30](https://www.outrageandoptimism.org/hubfs/Blog.avif) ### Brazil can lead the world at COP30 October 02, 2025 ![Pope Francis had the moral courage to stand up for the Earth and its people](https://www.ncronline.org/files/2025-04/20150618T0900-ENCYCLICAL%20--565376.JPG) ### Pope Francis had the moral courage to stand up for the Earth and its people April 22, 2025 ![Tending to the Broken Bones](https://www.outrageandoptimism.org/hubfs/1738760572687.jpg) ### Tending to the Broken Bones February 07, 2025 ![My Preparations for November 2024](https://www.outrageandoptimism.org/hubfs/shutterstock_247834897.jpg) ### My Preparations for November 2024 November 13, 2024 ![At Cop29, Azerbaijan must be the anchor for 1.5ºC](https://www.outrageandoptimism.org/hubfs/NEWSTATESMan.jpg) ### At Cop29, Azerbaijan must be the anchor for 1.5ºC August 06, 2024 ![Why a mindset of stubborn optimism about the climate crisis is needed, now more than ever](https://www.outrageandoptimism.org/hubfs/figuerres.png) ### Why a mindset of stubborn optimism about the climate crisis is needed, now more than ever January 29, 2024 ![The Climate Stories Our World Needs Now](https://www.outrageandoptimism.org/hubfs/DOWN_TO_US_jeffers.webp) ### The Climate Stories Our World Needs Now January 16, 2024 Browse and share ![](https://px.ads.linkedin.com/collect/?pid=6481866&fmt=gif) ```json { "@context" : "http://schema.org", "@type" : "Organization", "address" : { "@type" : "PostalAddress", "addressCountry" : "United Kingdom", "addressLocality" : "Bath", "addressRegion" : "England", "postalCode" : "BA1 3DU", "streetAddress" : "7 Chelsea Road " }, "description" : "Global Optimism works to inspire and catalyse transformations across our economies, and a renewed spirit of human achievement in the face of the climate crisis.", "email" : "info@globaloptimism.com", "image" : "https://f.hubspotusercontent20.net/hubfs/19539524/GlobalOptimism_OGImage_V1.png", "logo" : "https://www.outrageandoptimism.org/hubfs/logo/OutrageOptimism_LogoPNG-v1.png", "mainEntityOfPage" : { "@id" : "https://www.outrageandoptimism.org/blog/signals-amidst-the-noise-may-19-2021", "@type" : "WebPage", "description" : "We curate updates on government, finance and corporate net zero news weekly from the world’s media. 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