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<ul><li><keyword id="472014" type="General" weightage="20" keywordseo="green-jobs" source="Orion">Green jobs</keyword> or jobs in the ESG space, can be found in a wide range of industries, from renewable energy, and clean technology, to sustainable agriculture, and waste management. </li><li>March 2023 saw approximately 19,379 active job postings for ESG roles. </li><li>December 2022, and January 2023 saw the highest number of such jobs closed in India. </li><li>Organizations are looking for applicants with qualifications in energy, social environment, sustainable business management and environmental studies. </li></ul>The Future of Jobs Report 2023, by the World Economic Forum, did strike a warning note saying that 26 million jobs will be wiped out globally by 2027. However, a macrotrend listed in the report deserves attention. According to the report, businesses expect that the greatest net job creation impact will come from investments that support the green transformation of businesses, the wider adoption of ESG standards, and the localization of supply chains. While this is a broader trend that will change the future job landscape as much as AI will, now is perhaps the best time ever to build a career in ESG. “ESG as an industry or segment is growing and in India while we are late at it, I think in India the main reason for ESG growth is largely because you now have the government initiatives and the target of being net zero by 2070,” says says Munira Loliwala, business head, TeamLease Digital, a tech staffing solutions firm. Growth in <keyword id="14096025" type="General" weightage="20" keywordseo="esg-jobs" source="Orion">ESG jobs</keyword> ESG jobs are employment opportunities centered around Environmental, Social, and Governance (ESG) factors. These roles involve responsibilities related to sustainable business practices, impact investing, corporate social responsibility, environmental preservation, social justice, diversity and inclusion, ethical governance, and related areas. According to TeamLease Digital, between 2021 and 2022, <keyword id="17432479" type="General" weightage="20" keywordseo="esg-hiring" source="Orion">ESG hiring</keyword> and new demands grew almost by more than 147%, as compared to 2020-2021, wherein the post Covid year marked almost 85% of growth in hiring by organizations in India. March 2023 saw approximately 19,379 of active job postings for ESG roles, while December 2022, and January 2023 saw the highest number of jobs closed. The average number of ESG jobs posted stood at 12,400 between December 2022, and March 2023, while the average number of closed positions were 14,136. The average number of active ESG related jobs were 24,000. Organizations embracing ESG “ESG plays an important role if India has to attract global investments. ESG increases the chances of investments or chances of the acquisitions that most of the Indian companies today are looking at,” says Loliwala. Both big and small corporations in India have embraced ESG. Reliance Industries, for example, has integrated ESG into their business models. Led by their chief financial officer, their ESG team is a multi-disciplinary group responsible for all of Reliance’s environmental sustainability, stakeholder engagement and regulatory compliance activities. In order to enhance their commitment to ESG principles, HDFC Bank has formed an ESG committee. This committee consists of senior members from key departments within the bank and is chaired by a member of the senior management team. The ESG committee is responsible for developing and implementing the bank's ESG strategy, as well as establishing a roadmap to achieve the set targets. They report to the Corporate Social Responsibility (CSR) committee of the Board of Directors, providing updates on the bank's ESG strategy and progress. kindlife, a beauty and wellness platform which launched in 2020, has a strong ESG focus. “Our ESG goals are only achievable with a strong team who works tirelessly to bring our vision to life. We work closely with internationally renowned advisors armed with over 20 years of experience. We’ve worked closely with the World Bank and government bodies in the sustainability and clean energy space,” says Radhika Ghai, founder and CEO, kindlife. They have a team of two consultants who are guiding them with assessing their impact across various parameters and projects. They are also gearing towards their next critical goal of 100% carbon neutrality and a sustainable score for brands and products for which they are working closely with Sishir Garemella, a clean energy and climate technology expert. Talent in demand ESG jobs do not necessarily require skills in the sustainability domain. “Green jobs or jobs in the ESG space, can be found in a wide range of industries, from renewable energy and clean technology to sustainable agriculture and waste management. There are three categories of green jobs based on their degree of dependence on green skills,” says Manu Saigal, director, general staffing, Adecco India. Jobs that require green skills: These are jobs that cannot be performed without specialized knowledge of environmental sustainability. Examples include renewable energy technicians, environmental engineers, and sustainability consultants. Jobs with significant potential to create and hone green skills: “These are jobs that are not necessarily focused on environmental sustainability but have the potential to develop green skills,” says Saigal. Examples include architects and construction workers who build energy-efficient buildings and farmers who use sustainable agriculture practices. Jobs that do not require green skills: “These are jobs that are not specifically related to environmental sustainability but may contribute to sustainability indirectly,” says Saigal. Examples include accountants who work for green businesses and marketing professionals who promote environmentally friendly products. The crucial aspect of ESG is now focused on proper data analysis, collection, reporting, investigation, and filing. The typical structure involves using various frameworks to collect and analyze data, which requires hiring individuals at entry-level and mid-level positions with backgrounds in computer science, mathematics, or engineering. ESG data is considered a type of alternative data that can be utilized in the analysis of companies. As a result, investors and hedge funds are utilizing it to identify investment opportunities with lower risk by assessing a company's favourable environmental and ethical factors. Organizations are also looking to appoint applicants who have qualifications in energy, social environment, sustainable business management and environmental studies, wind and solar energies. And one important subject could also be economics and law. A lot of certification courses are available in this space today. There are courses on sustainability accounting, reporting and sustainable investing. <keyword id="17432478" type="General" weightage="20" keywordseo="esg-job-roles" source="Orion">ESG job roles</keyword> Below are some of the most common ESG job roles, responsibilities and expected salaries. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Job role </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsibilities </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Educational requirement </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Average starting salary (₹ lakh/annum) </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ESG Analyst </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for evaluating the ESG performance of companies and making investment decisions </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in finance, economics, environmental science, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">6-12 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sustainability Manager </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Develop and implement sustainable business practices, manage environmental impact, and ensure compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in environmental science, engineering, sustainability, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7-18 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">CSR Manager </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for developing and implementing CSR strategies, managing community engagement, and ensuring compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Master's degree in business administration, sustainability, social work, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7-15 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ESG Consultant </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Provide advisory services to companies on ESG issues, including strategy development, risk assessment, and performance evaluation. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in business administration, finance, environmental science, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5-18 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Green Building Consultant </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Provide guidance and support for the design and construction of sustainable buildings, ensuring compliance with ESG standards </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in architecture, engineering, sustainability, or a related field </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4-10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Responsible for developing and implementing agricultural practices that optimize crop yields and ensure sustainable farming </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in agronomy, agriculture, soil science, or a related field. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4-10 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Precision Agriculture Specialist </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Use technology to optimize crop production by analyzing data on soil, weather, and plant health. </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bachelor's or master's degree in agriculture, agronomy, or a related field, along with expertise in data analysis and precision agriculture technology </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5-12 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: Adecco India The rise of ESG jobs signifies a shift in the business landscape towards sustainability and responsible practices. As companies increasingly prioritize environmental, social, and governance factors, the demand for ESG professionals has surged, offering promising career opportunities for individuals committed to creating positive impact and driving long-term value.

Green jobs: A career option that actually impacts lives & the environment

<ul class="summary-list"><li>The <keyword id="11893011" type="UNKNOWN" weightage="60" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> limited the <keyword id="12330096" type="UNKNOWN" weightage="60" keywordseo="epa" source="Orion">EPA</keyword>'s ability to fight air pollution.</li><li>The challenge against the EPA was brought by West Virginia and other GOP-led states.</li></ul>The Supreme Court on Thursday dealt a blow to the federal government's ability to regulate greenhouse gas emissions from power plants — a major environmental ruling that hinders the Biden administration's <keyword id="11896311" type="UNKNOWN" weightage="60" keywordseo="climate-change" source="Orion">climate change</keyword> goals. The 6-3 <a href="https://www.supremecourt.gov/opinions/21pdf/20-1530_n758.pdf">decision</a>, for the case West Virginia v. Environmental Protection Agency, weakens the Environmental Protection Agency's authority to set environmental regulations that aim to slow the advancement of climate change.Chief Justice John Roberts delivered the majority opinion. The court's three liberals dissented.The challenge was brought by West Virginia and a slew of Republican-led states, many of which are fossil fuel producers, that took issue with the EPA's authority to impose regulations on the energy sector. They asked the court to review whether the EPA was allowed to issue such rules under the Clean Air Act, and the court ruled that EPA does not have the power to do so."A decision of such magnitude and consequence rests with Congress itself, or an agency acting pursuant to a clear delegation from that representative body," Roberts wrote in the opinion.The complex dispute stems from the 2015 <a href="https://archive.epa.gov/epa/cleanpowerplan/fact-sheet-overview-clean-power-plan.html" target="_blank" rel="noopener">Clean Power Plan</a>, which then-President Barack Obama announced to try to set guidelines on how states can limit carbon dioxide pollution coming from power plants. The following year, the Supreme Court blocked the plan.In 2019, under the Trump administration, the EPA replaced the plan with the more-relaxed <a href="https://www.epa.gov/stationary-sources-air-pollution/affordable-clean-energy-rule">Affordable Clean Energy Rule.</a> But a federal appeals court struck down that rule too.President <keyword id="99719" type="UNKNOWN" weightage="60" keywordseo="joe-biden" source="Orion">Joe Biden</keyword>'s EPA has not yet created its own rules, but the GOP-led states brought their challenge to the Supreme Court ahead of time in a bid to prevent potential sweeping regulations created by the agency. In a Thursday <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2022/06/30/statement-by-president-joe-biden-on-supreme-court-ruling-on-west-virginia-v-epa/">statement</a>, Biden called the ruling "another devastating decision that aims to take our country backwards.""I have directed my legal team to work with the Department of Justice and affected agencies to review this decision carefully and find ways that we can, under federal law, continue protecting Americans from harmful pollution, including pollution that causes climate change," Biden said. He continued: "My Administration will continue using lawful executive authority, including the EPA's legally-upheld authorities, to keep our air clean, protect public health, and tackle the climate crisis. We will work with states and cities to pass and uphold laws that protect their citizens." The court heard arguments for the case in February. The ruling also presents legal questions about other federal agencies' ability to make decisions.Justice Elena Kagan criticized the court's ruling in a <a href="https://www.businessinsider.com/kagan-dissent-supreme-court-climate-change-EPA-ruling-2022-6">strongly worded dissenting opinion</a>."The Court will not allow the Clean Air Act to work as Congress instructed. The Court, rather than Congress, will decide how much regulation is too much," Kagan wrote. "Whatever else this Court may know about, it does not have a clue about how to address climate change. And let's say the obvious: The stakes here are high," she continued. "Yet the Court today prevents congressionally authorized agency action to curb power plants' carbon dioxide emissions. The Court appoints itself—instead of Congress or the expert agency—the decisionmaker on climate policy. I cannot think of many things more frightening."Emissions have caused global temperatures to rise, which could significantly impact food and water supply, people's health, and where people can live, <a href="https://www.businessinsider.com/climate-change-alter-human-life-un-ipcc-report-2022-2">according to a United Nations report.</a> The UN warned that governments are not doing enough to combat climate change and are unprepared for its impact.Thursday's ruling sparked reactions among Democrats concerned about the climate change crisis."Catastrophic. A filibuster carveout is not enough. We need to reform or do away with the whole thing, for the sake of the planet," Rep. Alexandria Ocasio-Cortez of New York, a progressive Democrat, tweeted in response to the decision.

Supreme Court limits EPA's ability to fight climate change, a major environmental ruling that could affect Biden's goals

<ul class="summary-list"><li>The <keyword id="11898284" type="UNKNOWN" weightage="60" keywordseo="faa" source="Orion">FAA</keyword> said <keyword id="11908743" type="UNKNOWN" weightage="60" keywordseo="spacex" source="Orion">SpaceX</keyword> can expand a <keyword id="6356110" type="UNKNOWN" weightage="60" keywordseo="launch" source="Orion">launch</keyword> site once it complies with 75 terms, angering <keyword id="11896956" type="UNKNOWN" weightage="60" keywordseo="texas" source="Orion">Texas</keyword> <keyword id="6370990" type="UNKNOWN" weightage="60" keywordseo="locals" source="Orion">locals</keyword>.</li><li>An environmental non-profit claimed the FAA didn't properly reach out to those impacted.</li></ul>Locals in south Texas said the Federal Aviation Administration (FAA) had let them down after it found no significant environmental impact with SpaceX's launch site in Boca Chica.After an almost two-year <a href="https://www.businessinsider.com/spacex-texas-launch-site-starbase-delayed-fourth-time-faa-2022-4">wait</a>, the FAA concluded in a <a href="https://www.faa.gov/sites/faa.gov/files/2022-06/Final_PEA_Executive_Summary.pdf">43-page review</a> that <keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>'s space company can expand its <a href="https://www.businessinsider.com/spacex-musk-employees-texas-realtors-house-listing-locals-unhappy-expensive-2022-5">Texas launch site</a> but only if the company takes more than 75 actions to mitigate the <a href="https://www.businessinsider.com/spacex-brownsville-residents-elon-musk-locals-division-2021-5">environmental impacts</a>.If SpaceX complies with the 75 terms, it will receive a license so it can expand the facility, known as Starbase, and launch its massive <a href="https://www.businessinsider.com/spacex-expansion-texas-rocket-launch-site-halted-army-corps-engineers-2022-4?r=US&amp;IR=T">Starship rocket</a> into orbit for the first time.Sierra Club, an environmental nonprofit, sent a statement to Insider, claiming the FAA didn't meaningfully reach out to impacted communities while it was conducting the review. The organization also claimed SpaceX's site expansion and its launch of Starship — the <keyword id="11945699" type="UNKNOWN" weightage="60" keywordseo="rocket" source="Orion">rocket</keyword> it wants to send to Mars — will significantly cause more damage to the surrounding wildlife and communities."The FAA has failed the people of the Rio Grande Valley and the People of Texas," Dave Cortez, a director within Sierra Club, said in the statement. The organization "strongly condemns" the FAA's decision and is calling on officials to consider the negative effects of SpaceX's expansion in the area, he added.Juan Mancias, chairman of the Carrizo/Comecrudo tribe, said in the statement that the FAA should have requested a full environmental review into SpaceX's activity. "This land, this beach, does not belong to Elon Musk and is not a commodity for his delusions of intergalactic grandeur," Mancias said. "SpaceX as a whole needs to be shut down."Sierra Club organizer Emma Guevara, also a resident, described the FAA's decision in the statement as "incredibly disappointing and frustrating."While Michelle Serrano, a communications strategist with Latino-led nonprofit Voces Unidas, said in the statement that elected officials and government leaders have to listen to the community and prevent the destruction of Boca Chica Beach, where SpaceX is based.SpaceX didn't immediately respond to Insider's request for comment made outside of normal working hours.In response to Insider's request for comment, a FAA spokesperson referred to the agency's review which said it held a public assessment from which it received 17,000 submissions."One step closer to the orbital flight test of Starship," SpaceX <a href="https://twitter.com/SpaceX/status/1536413480042893312">tweeted</a> on Monday, linking to the FAA's review. The FAA <a href="https://www.businessinsider.com/spacex-starship-new-faa-environmental-review-assessment-impact-statement-texas-2020-7?r=US&amp;IR=T">started its review of SpaceX's launch site in July 2020</a> and was supposed to be finished by December 2021.Locals in Brownsville — considered one of the <a href="https://www.usatoday.com/picture-gallery/money/economy/2018/09/18/americas-poorest-cities/37821209/">poorest cities in the US, </a>according to a 2018 analysis — have previously told Insider about SpaceX's impact on the surrounding <a href="https://www.businessinsider.com/spacex-brownsville-residents-elon-musk-locals-division-2021-5">environmental habitats</a>, as well as <a href="https://www.businessinsider.com/spacex-musk-employees-texas-realtors-house-listing-locals-unhappy-expensive-2022-5">rising house prices</a>.

Texas locals say FAA failed them after it found that SpaceX's launch site won't cause any significant environmental impact

<ul class="summary-list"><li>A bill in New York seeks to halt <keyword id="1660859" type="PERSON" weightage="60" keywordseo="bitcoin-Mining">bitcoin mining</keyword> for three years until its environmental impact can be assessed. </li><li>The bill would specifically look into the greenhouse gas emissions caused by <keyword id="6354947" type="UNKNOWN" weightage="60" keywordseo="bitcoin">bitcoin</keyword> mining.</li><li>If passed, it will affect a growing bitcoin mining industry in upstate New York.</li></ul>A bill introduced in the New York State Senate is seeking to <a href="https://www.nysenate.gov/legislation/bills/2021/S6486">halt bitcoin mining</a> for three years until the state has assessed its impact on the environment. <a href="https://legiscan.com/NY/bill/S06486/2021" target="_blank" rel="noopener">New York Senate Bill 6486</a> was presented by Senator Kevin Parker to the State Senate's Environmental Conservation Committee on Monday, <a href="https://www.theblockcrypto.com/linked/103703/ny-bill-ban-crypto-mining-environmental-impact">The Block</a> first reported.The bill will specifically look into the greenhouse gas emissions caused by bitcoin mining, including its effects on water, air, and wildlife. The assessment will produce a report, which will then be issued to the public and will be subject to a 120-day public comment period."Cryptocurrency mining centers are an expanding industry in the State of New York, often, but not exclusively, located in retired or converted fossil fuel power stations, including dormant peaker plants," the bill said. If the bill passes, it will affect a <a href="https://www.nysfocus.com/2021/04/13/new-york-bitcoin-mining-threat/">growing industry, especially in upstate New York</a> where the power for bitcoin mining is more affordable and <a href="https://www.govtech.com/news/bitcoin-mining-in-upstate-new-york-is-environmental-concern">aided by cooler weather</a> that keeps equipment from overheating as much.Among the mining centers active in upstate New York is <keyword id="11202418" type="UNKNOWN" weightage="60" keywordseo="greenidge-generation-holdings">Greenidge Generation Holdings</keyword>, a natural gas power plant in the Finger Lakes region, which can mine an average of 5.5 bitcoins every day, <a href="https://www.coindesk.com/a-new-york-power-plant-is-mining-50k-worth-of-bitcoin-a-day">according to CoinDesk</a>. The facility was previously a coal-fired power plant but was converted to natural gas in 2017 and then to a bitcoin mining center in January 2020, according <a href="https://greenidgellc.com/company/about">to its website</a>.<a href="https://www.businessinsider.com/category/bitcoin-mining">Bitcoin mining</a> has long been criticized due to its heavy energy use and environmental impact. Various research, including a study from Cambridge University, <a href="https://cbeci.org/cbeci/comparisons" target="_blank" rel="noopener">has shown</a> that bitcoin mining around the world uses more energy each year than some entire nations.However, many of bitcoin's supporters maintain that mining increasingly <a href="https://markets.businessinsider.com/currencies/news/bitcoin-btc-energy-use-mining-climate-environment-cyrptocurrencies-foundry-2021-3-1030229621?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">uses renewable energy</a>.<a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> has risen 83% year to date. It briefly <a href="https://markets.businessinsider.com/currencies/news/bitcoin-price-record-high-coinbase-direct-listing-btc-crypto-2021-4-1030302632?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">breached a record high of $64,000</a> ahead of Coinbase's direct listing, before plummeted around 36% to $47,000 around 10 days later.

A bill in New York aims to halt bitcoin mining for 3 years until its environmental impact can be assessed

<a href="https://www.businessinsider.com/financing-a-sustainable-future-2022"></a><div type="image" title="Women and children carry drinking water after collecting drinkable water from a pond at the coastal Khulna, Bangladesh on March 21, 2022. Every day they must have to walk more than a mile to collect the water and they back. Expanded salinity has resulted in a severe shortage of potable water in coastal regions, while reliance on groundwater has increased more than ever in other areas. (Photo by Kazi Salahuddin Razu/NurPhoto via Getty Images)" height="4480" width="6720" msid="92578163" hostid="261" sizebytes="1389912"></div><ul class="summary-list"><li><keyword id="14333488" type="UNKNOWN" weightage="60" keywordseo="impact-investing" source="Orion">Impact investing</keyword> doesn't always help the people impacted most by <keyword id="12062568" type="UNKNOWN" weightage="60" keywordseo="inequity" source="Orion">inequity</keyword> and climate change, according to Durreen Shahnaz, founder and CEO of Impact Investment Exchange. </li><li>Recognizing the power and importance of the "Global South" is necessary for inclusive social innovation.</li><li>This article is part of the "<a href="https://www.businessinsider.com/financing-a-sustainable-future-2022">Financing a Sustainable Future</a>" series exploring how companies take steps to set and fund sustainable goals.</li></ul>Right before the pandemic, I spoke at an impact investing conference in New York. As the founder and CEO of Impact Investment Exchange, I've seen how much actual impact impact investing can have — and how it can reinforce old, problematic norms.As usual, I was among the few women of color invited to speak alongside an otherwise white male panel. And as is typical for women of color at these conferences, I had to endure input on my choice of attire — being asked to avoid wearing an ethnic dress (a saree in my instance) — as well as the casual dismissals of my remarks and the general fawning over "distinguished white men." My speech — in which I cautioned against allowing the industry to be overtaken by massive private equity funds looking for ways to own the future profits of entrepreneurs' ideas and labor in the Global South — did not sit well with Bill McGlashen, then still a private equity executive. He took a moment of his time on stage to insinuate that elite groups of venture capitalists turned ethical would wield the power of impact investing, not do-gooders like myself looking to equalize the playing field.That equation of money with power eventually landed McGlashen in the spotlight when he was sent to federal prison for his role in <a href="https://www.businessinsider.com/former-tpg-capital-executive-bill-mcglashan-guilty-college-admissions-scandal-2021-2">the Varsity Blues admissions scandal</a>. [ed. note. <a href="https://www.reuters.com/legal/government/former-tpg-capital-exec-fights-varsity-blues-conviction-appeal-2022-02-09/">McGlashen is currently appealing his conviction</a>]. McGlashen's involvement in both the scandal and the world of impact investing is not merely a coincidence. The same privilege and arrogance that someone like McGlashen displayed is rampant throughout the sector.It's <keyword id="12367973" type="UNKNOWN" weightage="60" keywordseo="colonialism" source="Orion">colonialism</keyword> by another name.<h2>Power imbalances matter<div type="image" title="Durreen Shahnaz, Founder and CEO, Impact Investment Exchange and Impact Investment Exchange Foundation" height="2000" width="2000" msid="92578167" hostid="261" sizebytes="181956"></div></h2>With<a href="https://www.cnbc.com/2021/05/09/esg-investing-to-reach-1-trillion-by-2030-head-of-ishares-americas.html"> increasing numbers</a> of people seeing impact investing and ESG principles as vehicles for solving some of the world's biggest problems — such as climate change and inequality — we can't afford to exclude the very groups that the field was designed to help. The geography is lopsided. Today, <a href="https://thegiin.org/assets/Sizing%2520the%2520Impact%2520Investing%2520Market_webfile.pdf">79%</a> of impact investing organizations are based in North America and Europe. Only <a href="https://www.ifc.org/wps/wcm/connect/8b8a0e92-6a8d-4df5-9db4-c888888b464e/2020-Growing-Impact.pdf?MOD=AJPERES&amp;CVID=naZESt9">30%</a> of the volume of impact funds is raised for projects in emerging markets. This means that impact investing in Asia, Africa, and Latin America is coming from the Global North and with it, the power of how impact investing should go. These structures of power take on a new significance outside of the US, where money overwhelmingly flows from developed countries to developing countries — and back out again. It is no wonder that those of us in the Global South are discussing new neocolonialism through impact investing. Ironically, the impact investing space that I helped to create over a decade ago was supposed to counter the very colonial relations that pervaded development aid. The dream was to empower people of color and the Global South with investment so that we could change our shared futures together by investing in each other. While companies like IIX are all about the Global South investing in each other, we are the minority. Familiar with how colonialism manifests itself, we work hard and unapologetically against it to balance power asymmetries. With a firm belief that women at the last mile are the backbone of their communities' health, economies, success, and climate action, we continue to roll up our sleeves to put gender equality front and center of everything we do so they can transform their environment, the climate, and the world.Impact Investment Exchange (IIX)'s Women's Livelihood Bond series - the world's first listed gender-lens, impact investing security — has to date mobilized over US $78 million from global investors, empowering over 1 million women across Asia Pacific at the last mile to become agents of change and enabling them to maintain sustainable livelihoods.Recognizing that fostering equity and inclusion at scale requires all hands on deck, IIX has also convened a global coalition – the Orange Bond Initiative – to launch the world's first asset class by and for the Global South and the 99%, that will mobilize the multi-trillion bond market for the empowerment of 100 million women and girls as solutions to achieve the UN's 17 SDGs and build a more inclusive, climate-resilient future for all. To democratize impact investing, IIX has also developed digital offerings — a digital impact assessment and verification platform that effectively measures the social and environmental impact of an investment and gives value to the voices of the underserved (IIX Values); and the world's largest crowdfunding platform for impact investing (Impact Partners) — which will help to address the fundamental challenges the space faces: accessibility, credibility and knowledge.<h2>Recognizing the value of the Global South</h2>Our dedication towards connecting the backstreets to Wall Street through our work is driven by our belief that underserved women and communities need to be liberated. They need their voices heard to make global social justice a possibility.Given the residue of our colonial mentality in the Global South, the rich still take their cue from the rich in the Global North, continuing to place them on a pedestal like in colonial days. This is no different to how many of the Royals from the Indian sub-continent readily complied with workings of the British Raj to 'fit' in with the colonial powers, undermining their fellow country people.We need to look towards a global future where capital distribution is harmonized for the greater good of the world. Where markets recognize the value of the Global South — with the nexus of finance and development enabling the financial system to work for the "99%" (that represent most of the Global South); and where the rich and backstreets of the South embrace the responsibility to stand united in supporting each other to build an equitable, sustainable future.In this world, borders are not drawn, blocks to social innovation are removed and more effective collaborations for inclusive social innovation processes and systems are in place. To live up to our promise of using finance for good, we cannot repeat the history of structures that have relied on the labor of people of color to benefit the few. It's not enough to redistribute capital.Durreen Shahnaz is the founder and CEO of Impact Investment Exchange.

Why impact investing needs to be 'decolonized' to help the people most affected by climate change and inequity

<ul class="summary-list"><li>A <a href="https://www.businessinsider.com/heat-waves-warm-arctic-antarctic-poles-2022-3">heat dome</a> settled over the Central and Eastern US this week, potentially causing three deaths.</li><li>The <a href="https://www.businessinsider.com/climate-crisis-endangers-women-girls-pregnant-people-2022-3">heat</a> closed schools and killed roughly 2,000 <a href="https://www.businessinsider.com/uk-burp-catching-mask-for-cows-slow-down-climate-change-2022-4">cattle</a>. It's expected to continue next week.</li></ul>It's been a hot week for millions of people across the US, and it's not over yet.A <keyword id="11947988" type="UNKNOWN" weightage="60" keywordseo="heat-wave" source="Orion">heat wave</keyword> has shattered daily temperature records across the Southwest, Central Plains, and Midwest this week. More than 100 million people in the US have been under some type of <keyword id="11930977" type="UNKNOWN" weightage="60" keywordseo="heat" source="Orion">heat</keyword> alert and advised to stay indoors.Two people died in the Milwaukee area amid the extreme temperatures — a 39-year-old woman found in her home and an 89-year-old man who collapsed in his yard. The medical examiner's office said they were "probable" heat deaths, according to <a href="https://www.nbcnews.com/news/weather/two-dead-wisconsin-heat-wave-blankets-large-parts-nation-rcna33853">NBC News</a>. Another man, 67, was <a href="https://www.nps.gov/deva/learn/news/fatality-2022-06-14.htm">found dead</a> in California's Death Valley National Park, after he ran out of gas and walked through the heat.Tens of thousands of people faced <a href="https://www.aepohio.com/company/news/view?releaseID=8562">power outages</a>. School districts in Michigan cancelled classes, and public schools in Pittsburgh, Pennsylvania, switched to half days to avoid the hottest hours, <a href="https://abcnews.go.com/US/record-heat-waves-continue-100-million-affected/story?id=85408727">ABC News</a> reported. In Odessa, Texas, a main water line broke, leaving residents to weather the heat without running water for more than 48 hours, The <a href="https://www.texastribune.org/2022/06/15/odessa-water-line-break/">Texas Tribune</a> reported.<div type="image" title="man watches children play on waterslide" height="1667" width="2500" msid="92266900" hostid="261"></div>In Kansas, an estimated 2,000 cattle died from heat stress as of Tuesday, according to <a href="https://www.reuters.com/world/us/heat-humidity-kill-least-2000-kansas-cattle-state-says-2022-06-15/">Reuters</a>."It's really a combination of the heat and the humidity which causes some of these impacts," Marc Chenard, a meteorologist with the National Weather Service, told Insider. "It really depends on how used to that type of weather these areas are, and also the time of year. So for some parts of the country, it might be a little bit early for some of this heat and humidity."Humidity can make extreme temperatures feel even hotter, since it hinders the cooling process of sweat evaporating off people's skin. That's why humidity can push the heat index 10-15 degrees higher than the actual temperature.<div type="image" title="people sit in hammocks between tree limbs on river" height="1666" width="2222" msid="92266902" hostid="261"></div>Milwaukee's heat index hit a <a href="https://twitter.com/Maxar_Weather/status/1536840331068596229">record</a> June high of 109 degrees Fahrenheit on Tuesday. Las Vegas, too, reported 109 degrees. North Platte, Nebraska, snagged its own June record of 108 degrees. Phoenix, Arizona, rose even further to 114 degrees. Death Valley topped them all at 123 degrees.The heat will likely continue into next week for many parts of the US, according to forecasts from the Climate Prediction Center, which is operated by NWS and the National Oceanic and Atmospheric Administration. The below map shows the center's projections.<div type="image" title="united states heat map one-week outlook shows deep red above average temperatures across central and eastern regions" height="2550" width="3300" msid="92266904" hostid="261"></div>"The prolonged nature of the well-above-normal temperatures and excessive heat has been impressive for early to mid June," Chenard said.The Climate Prediction Center also produces a three-month outlook for temperatures nationwide. That forecast projects a summer of above-average heat across the entire US, with the exception of two small pockets in the north.<div type="image" title="united states heat map three-month outlook shows orange above average temperatures across the country" height="2550" width="3300" msid="92266908" hostid="261"></div>"I don't think we're going to have record temperatures continue every day or every week through the summer. But I think what this suggests is that the conditions will be favorable to see at least rounds of well-above-normal temperatures at times through the summer," Chenard said.Heat waves are growing more common, severe, and lengthy as global temperatures rise. The 2018 <a href="https://nca2018.globalchange.gov/">National Climate Assessment</a> <a href="https://www.climate.gov/news-features/understanding-climate/national-climate-assessment-team-updates-key-indicators-global">found</a> that the frequency of heat waves has tripled since the 1960s, and that the average heat-wave season has increased by 45 days.<h2>A '<keyword id="14215980" type="UNKNOWN" weightage="60" keywordseo="heat-dome" source="Orion">heat dome</keyword>' with tornadoes and thunderstorms around the edges</h2><div type="image" title="person throws water bottles in a plastic bin" height="1666" width="2222" msid="92266910" hostid="261"></div>This month's extreme temperatures came from a "heat dome" — a ridge of high pressure in the upper and middle layers of the atmosphere, trapping heat beneath it. The dome started in the Southwest and then parked itself over the Central and Eastern US."In this case, it's just persisted a long time," Chenard said, adding, "We just have this bubble of heat that's been over the central part of the country."In Chicago, the heat wave arrived alongside hurricane-force winds and a rare instance of a circulation system threatening to become a tornado over the city. Two large tornadoes ripped through central Wisconsin this week, according to the <a href="https://lacrossetribune.com/news/local/large-and-extremely-dangerous-tornado-confirmed-outside-of-tomah-moving-northeast/article_293a6fe6-ecf2-11ec-851f-9becf2889806.html">La Crosse Tribune</a>.It's not clear whether the twisters were directly related to the heat wave, but Chenard said that storms typically brew around the fringes of heat domes, where they interact with other weather systems."It is common on the edges of these domes to get rounds of thunderstorms of varying intensity. They don't always have tornadoes," he said.

Heat wave threatens 100 million people in the US, closing schools and killing cattle. It may last another week.

<ul class="summary-list"><li><keyword id="11908743" type="UNKNOWN" weightage="60" keywordseo="spacex" source="Orion">SpaceX</keyword>'s expansion of its <keyword id="11896956" type="UNKNOWN" weightage="60" keywordseo="texas" source="Orion">Texas</keyword> <keyword id="11945699" type="UNKNOWN" weightage="60" keywordseo="rocket" source="Orion">rocket</keyword> site correlates with falling bird numbers, officials say.</li><li>The Fish and Wildlife Service told the FAA that the drop may be linked to rocket tests.</li></ul>The expansion of SpaceX's rocket launch site in south Texas has correlated with a decline in some bird species in the surrounding area, according to the US Fish and Wildlife Service (FWS) said.In a draft biological and conference opinion to the Federal Aviation Administration (FAA), shown in <a href="https://www.cnbc.com/2022/05/03/spacex-starbase-expansion-plans-will-harm-endangered-species-fws.html">CNBC</a> and <a href="https://www.bloomberg.com/news/articles/2022-05-03/spacex-s-boca-chica-expansion-coincides-with-missing-plovers?sref=lAVQtUwz">Bloomberg</a> reports, the FWS said SpaceX's growth in the Boca Chica area has had a negative impact on endangered shorebird species. These include the snowy and piping plover.<keyword id="11897862" type="UNKNOWN" weightage="60" keywordseo="elon-musk" source="Orion">Elon Musk</keyword>'s <keyword id="11895441" type="UNKNOWN" weightage="60" keywordseo="space" source="Orion">space</keyword> company wants to expand its Texas rocket site, Starbase, by adding a second launch and landing pad where the company's huge <keyword id="11945700" type="UNKNOWN" weightage="60" keywordseo="starship" source="Orion">Starship</keyword> rocket can lift off from. The area where SpaceX is building comprises many habitats and wetland ecosystems."It is not clear what happened to the 'missing' plovers, but if SpaceX activities have resulted in the loss of over half the Boca Chica population then the entire critical habitat is being impacted," the FWS said in its letter.The reasons behind the "missing birds" could include death from rocket tests and explosions, loss of habitat from rocket debris recovery, injury to internal organs from testing, and displacement because of loud noise and operations, the FWS said in the letter.SpaceX and the FWS didn't immediately respond to Insider's request for comment.The wildlife agency's letter was part of the FAA's <keyword id="13067715" type="UNKNOWN" weightage="60" keywordseo="environmental" source="Orion">environmental</keyword> review of SpaceX's plans at its Boca Chica rocket launch site. The review, which <a href="https://www.businessinsider.com/spacex-starship-new-faa-environmental-review-assessment-impact-statement-texas-2020-7?r=US&amp;IR=T">started in July 2020</a>, has been <a href="https://www.businessinsider.com/spacex-texas-launch-site-starbase-delayed-fourth-time-faa-2022-4">pushed back</a> multiple times but the FAA <a href="https://www.faa.gov/space/stakeholder_engagement/spacex_starship#:~:text=The%20FAA%20plans%20to%20release,for%20the%20proposed%20SpaceX%20operations.">said</a> it wants to complete the assessment by May 31.SpaceX can only carry out <a href="https://www.businessinsider.com/spacex-expansion-texas-rocket-launch-site-halted-army-corps-engineers-2022-4?r=US&amp;IR=T">orbital launches of the Starship rocket</a> once the FAA finishes its assessment and gives the company the green light. Musk has previously said Starship will probably <a href="https://www.businessinsider.com/elon-musk-spacex-starship-rocket-update-flight-cost-million-2022-2">fly into orbit for the first time this year</a>.

Elon Musk's SpaceX rocket site expansion coincides with a decline in bird numbers in the local area, investigators say

<ul class="summary-list"><li><keyword id="11892960" type="UNKNOWN" weightage="60" keywordseo="facebook" source="Orion">Facebook</keyword> is implementing an unprecedented hiring freeze in response to missed revenue targets.</li><li>Executives explained how this freeze will be enforced in internal memos seen by Insider.</li></ul>Facebook is pausing on hiring and scaling back plans to acquire new talent across the company.CFO David Wehner said the company, which has rebranded to <keyword id="12416504" type="UNKNOWN" weightage="60" keywordseo="meta" source="Orion">Meta</keyword>, is doing so as part of its "reprioritization" as it tackles challenges that caused it to miss revenue targets, according to an <a href="https://www.businessinsider.com/read-the-internal-facebook-memo-detailing-company-wide-hiring-freeze-2022-5">internal memo</a> shared on Wednesday seen by Insider. Insider's Kali Hays and Rob Price were the <a href="https://www.businessinsider.com/leaked-facebook-memo-details-hiring-freeze-negative-business-impacts-2022-5">first to report</a> Facebook's hiring freeze. In a separate memo, Facebook's global head of recruiting, Miranda Kalinowski, said the company's engineering team would be first to be impacted by these hiring decisions while management continues to adjust hiring targets elsewhere.It's rare for Facebook to freeze hiring. The last time they did so was at the start of the pandemic as the company scrambled to put in place processes to onboard new hires, a worker there at the time <a href="https://www.businessinsider.com/facebook-freezes-hiring-certain-engineers-as-zuckerberg-trims-spending-2022-5">told Insider</a>.Earlier <a href="https://www.businessinsider.com/leaked-facebook-memo-details-hiring-freeze-negative-business-impacts-2022-5?inline-endstory-related-recommendations=">this week</a>, a Meta spokesperson told Insider the company "regularly re-evaluates" its hiring and "according to our business needs and in light of the expense guidance given for this earnings period, we are slowing its growth accordingly.""We will continue to grow our workforce to ensure we focus on long-term impact," the spokesperson added.Read on to see what Wehner and Kalinowski said about the unprecedented hiring freeze:<h2>Facebook was trying to "bring the <keyword id="11121339" type="UNKNOWN" weightage="60" keywordseo="metaverse" source="Orion">metaverse</keyword> to life," but unexpected factors such as the war in Ukraine, data-privacy changes, and the easing of pandemic restrictions were pressurizing the company.</h2>Facebook changed its corporate name to Meta last year to reflect its new focus on building its virtual "metaverse."That project proved to be costly, with Reality Labs, the division overseeing the development of the metaverse within Facebook, losing $2.9 billion in the first quarter, Insider <a href="https://www.businessinsider.com/facebook-slowing-pace-of-spending-on-new-projects-like-metaverse-2022-4">reported</a> previously.In his note on Wednesday, Wehner said that "bringing the metaverse to life" is a new growth area for Meta, together with other opportunities such as monetizing content through Instagram's new Reels function and growing its business messaging function. "But we also have to be responsible by responding to the unpredictable market forces that have put pressure on our business over the past few months," he continued.Among the issues he cited included Russia's invasion of Ukraine; changes that Apple made to <a href="https://www.businessinsider.com/facebook-says-how-apple-change-will-impact-its-ad-business-2021-4">privacy settings</a> on its iOS operating system last year; and a softer macroeconomic environment as factors that weakened Facebook's ability to rake in revenue.Wehner also noted that as economies reopen after COVID-related lockdowns, "more people are spending time offline and returning to pre-pandemic spending patterns." That's causing an "industry-wide downturn," he said.<h2>Engineering will be the first to be impacted by the freeze, while other roles and units can continue to hire actively, Kalinowski said</h2>Kalinowski and Wehner said engineering teams would be the first to be affected by the changes. In her note, Kalinowski detailed which specific ranks and positions in engineering would be impacted. <a href="https://www.businessinsider.com/read-the-internal-facebook-memo-detailing-company-wide-hiring-freeze-2022-5">According to the memo</a>, most of the roles are mid-level to director-level.Beyond engineering, however, Kalinowski and Wehner said they're "still working out" what the hiring freeze means for other teams. However: "This will affect almost every team in the company," they said.One team that won't be immediately impacted is Reality Labs, the loss-making unit in charge of building the metaverse. Kalinowski said recruiting priorities would "pivot to other hiring priorities across Product XFN, Reality Labs, and Infra.""We will continue to actively hire for ML IC5+ candidates and IC7+ candidates across all SWE areas and will pause Director openings to assess our needs on a case by case basis," she added.<h2>The freezes are effective immediately and are expected to affect other teams in the coming weeks, the memo said</h2>Kalinowski said the hiring freeze on the engineering team would be "effective immediately." In other cases, Facebook will be decidedly more cautious in hiring. For example, the company will not be adding any new IC6/M2 Eng candidates to the interview pipeline, said Kalinowski, as it's confident it has "enough people in [the] process to meet our hiring goals."While Facebook is still looking at how to adjust hiring plans for other teams, Wehner hinted that more details would be shared soon as the company starts planning for the second half of the year. "We're entering into the H2 planning cycle, and this will be an opportunity to reprioritize work to make sure we're all focused on the most important things and the top priorities for the company," he said.You can read the full memo <a href="https://www.businessinsider.com/read-the-internal-facebook-memo-detailing-company-wide-hiring-freeze-2022-5">here</a>.

Facebook is freezing hiring. Here's why, who it impacts, and when it's happening.

New Delhi, Mar 4 () Moody's Investors Service on Wednesday downgraded the baseline credit assessment of Bank of Baroda to reflect weakening in asset quality and risk from deteriorating operating environment in India. Moody's affirmed Bank of Baroda's domestic and foreign bank long-term and short-term deposit ratings of Baa3, stable/P-3. Moody's has downgraded BoB's Baseline Credit Assessment (BCA) to 'ba3' to reflect the weakening in asset quality and further downside risk from the deteriorating operating environment in India. BCAs are essentially an opinion on the likelihood of an issuer requiring extraordinary support to avoid a default on its debt obligations. "Further deterioration in asset quality poses risks to BoB's profitability and capital," Moody's said, adding the asset quality in micro, small and medium enterprises and agriculture portfolio, which has deteriorated, will continue to weaken further. Another risk factor is BoB's exposure to non-bank financial institutions (NBFIs), which at 16 per cent of its loan book is the highest among Moody's-rated banks in India. "If the downside risks on asset quality materialize, resulting in higher credit costs and lower internal capital generation, the pace of improvement in profitability and capital will be negatively impacted," it added. Moody's further said it has affirmed the deposits and senior unsecured ratings of BoB with a stable outlook. Moody's expects that the bank will receive a very high level of systemic support,leading to a widening of systemic support uplift to three notches, from two previously. Bank of Baroda had total assets of Rs 11.4 lakh crore at December 31, 2019. JD MRMR

Moody's downgrades BoB's baseline credit assessment

<ul class="summary-list"><li>In the Paris climate agreement, world leaders agreed to limit <keyword id="6366055" type="UNKNOWN" weightage="60" keywordseo="global-warming">global warming</keyword> to 1.5 degrees Celsius.</li><li>But new UN report found that goal may be impossible: By 2040, Earth will warm by at least that much.</li><li>For every half-a-degree of warming, the frequency and intensity of heat waves and <keyword id="46472" type="PERSON" weightage="60" keywordseo="drought">drought</keyword> increase.</li></ul>When world leaders from 195 countries gathered in Paris almost six years ago, they agreed to try to cut greenhouse-gas emissions enough to keep global temperatures from <a href="https://www.ipcc.ch/sr15/faq/faq-chapter-1/">rising more than 1.5 degrees Celsius</a>.According to a new climate report, however, Earth's temperature is set to blow past that mark in the next 20 years - under any conceivable scenario of future emissions.The findings, released on Monday, come from the sixth climate assessment by the Intergovernmental Panel on <keyword id="6361617" type="UNKNOWN" weightage="60" keywordseo="climate-change">Climate Change</keyword> (<keyword id="6941656" type="UNKNOWN" weightage="60" keywordseo="IPCC">IPCC</keyword>) - a United Nations body that recruits hundreds of scientists from across the globe to synthesize years of climate research and modeling.The report found that human-driven emissions have already caused the planet to warm by 1.1 degrees in the last 170 years, and that warming trend will continue until over the next two to three decades to some degree, regardless of how much emissions drop.<h2>What climate change will look like in the short term</h2><div type="image" title="california drought Lake Mendocino 2021" height="1392" width="2500" msid="85174121" hostid="261"></div>Global temperatures have risen faster in the last 50 years than any other 50-year period in the last 2,000 years. That's because humanity emitted about 2.4 trillion tons of carbon dioxide between 1850 and 2019. Every trillion tons causes the world's average temperature to increase roughly 0.45 degrees Celsius (0.9 degrees Fahrenheit).The IPCC report outlined five potential future scenarios, each of which assumes a different quantity of carbon emissions between now and the year 2100. So the scenarios all result in different levels of warming. Even if emissions drop to net zero in the next 30 years - the IPCC authors' best-case scenario - the global temperature will rise at least 1.5 degrees between now and 2040, the report found. In the worst-case scenario, in which emissions double by 2050, temperatures would rise 2.4 degrees above pre-industrial levels between 2041 and 2060. Then that increase would nearly double by 2100.If the best-case situation played out, though, temperatures would eventually dip back down, dropping below the 1.5-degree mark by the end of the century.<h2>Some changes in ocean heat and sea-level rise are locked in until 2100</h2><div type="image" title="nuuk greenland ice melt" height="1620" width="2156" msid="85174122" hostid="261"></div>Even in the best-case scenario, the authors found, the ocean warming observed between 1971 and 2018 will double. Waters will also get more acidic and lose oxygen, which can devastate marine life and alter currents that are critical to seasonal weather patterns in the Northern Hemisphere. These changes will be irreversible for the next hundreds, if not thousands, of years. The report shows as well that glaciers will keep melting for decades or even centuries, and the Greenland Ice Sheet will continue losing ice until 2100 (the Antarctic Ice Sheet will most likely do the same). Because this contributes to sea-level rise, it is virtually certain that oceans will continue rising through the end of this century.In the best case scenario, the IPCC authors said, oceans will rise by nearly a foot over the next 80 years.<div type="image" title="smokestack poland climate change eu" height="640" width="1024" msid="85174123" hostid="261"></div>Avoiding 1.5 degrees of warming was the Paris agreement's ideal scenario, though it set 2 degrees as the threshold never to cross. To make sure we stay under that, the new report says, we have about 900 billion tons of carbon left in our budget. In 2019, emissions reached about <a href="https://www.carbonbrief.org/analysis-global-fossil-fuel-emissions-up-zero-point-six-per-cent-in-2019-due-to-china">37 billion tons</a> - so if that rate continues and no carbon gets removed from the atmosphere, we'd have about 25 years of emissions left.Still, the impacts a 2-degree temperature increase will have on weather - including extreme heat and heavy precipitation - will be dramatically more severe. For every half-degree of warming, the frequency and intensity of heat waves and droughts increase. At the same time, the planet's permafrost, snow cover, glaciers, ice sheets, and Arctic sea ice shrinks.<h2>7 fast facts from the IPCC report</h2><div type="image" title="People in the water looking at a hill with smoke rising" height="1359" width="2000" msid="85174124" hostid="261"></div>The UN created the IPCC in 1988 to inform policymakers about how the climate is changing. This is its sixth assessment of existing scientific research.For these reports, hundreds of scientists from across the globe comb through thousands of scientific papers. They assess how the climate is changing, the impacts of those changes, risks for the future, and what can be done. Almost all the observations and predictions in the report are assigned a level of likelihood or certainty. Monday's report is just the first part of the IPCC's sixth assessment. The second and third will be released in early 2022.Other key findings from the new report include:<ul><li>The global temperature between 2001 and 2020 was about 1 degree Celsius higher than it was between 1850 and 1900.</li><li>The world's average sea level rose by about half a foot (0.2 meters) between 1901 and 2018. The rate of annual sea-level rise nearly tripled during that time.</li><li>In 2019, the concentration of carbon in the atmosphere was higher than at any time in at least 2 million years. Concentrations of methane and nitrous oxide - more potent greenhouse gases than CO2 - were higher than at any time in at least 800,000 years.</li><li>Average yearly Arctic sea-ice levels between 2001 and 2020 were their lowest since 1850. The Arctic is likely to have a sea-ice free September at least once before 2050.</li><li>Major tropical cyclones, heat waves, and heavy precipitation events have increased in frequency around the globe over the last four decades.</li><li>Combinations of extreme events like heavy rainfall and hurricane-caused storm surge, paired with rising sea levels, will continue to make flooding more likely in coming decades.</li><li>The Atlantic Meridional Overturning Circulation, an ocean current that carries warm water north and cold water south, is weakening. If the current slows enough, Europe and the US East Coast would be hit by freezing temperatures.</li></ul>

The amount of warming that world leaders collectively agreed to avoid? It's inevitable in the next 20 years, a new report suggests.

<ul class="summary-list"><li><keyword id="6360701" type="DEFINITION" weightage="60" keywordseo="spacex">SpaceX</keyword> may have to delay its mission to test its <keyword id="1611690" type="PERSON" weightage="60" keywordseo="Starship">Starship</keyword> <keyword id="9428" type="COMPANY" weightage="60" keywordseo="Rocket">rocket</keyword> in orbit, a source told CNN.</li><li>SpaceX wanted to launch Starship in July, but environmental reviews could push it back, the source said.</li><li>The reviews should ensure SpaceX isn't harming wildlife around its South Texas launch pad.</li></ul>SpaceX may have to delay its first Starship rocket orbit mission because of ongoing assessments of wildlife and ecosystems around the launch area, a source told <a href="https://edition.cnn.com/2021/06/15/business/spacex-orbital-test-scn/index.html">CNN</a> on Tuesday.The launch was scheduled for July, according to a <a href="https://twitter.com/elonmusk/status/1371995012825763842?s=20">tweet</a> from SpaceX CEO <keyword id="6355315" type="UNKNOWN" weightage="60" keywordseo="elon-musk">Elon Musk</keyword>. NASA Spaceflight <a href="https://www.nasaspaceflight.com/2021/03/starship-sn11-spacex-orbital-flight-summer/" target="_blank" rel="noopener">reported</a> in March that SpaceX's internal goal for launch was July 1.But the date could be pushed back due to ongoing environmental reviews that need to be approved by the Federal Aviation Administration (FAA) before SpaceX can get a launch license, the source, who is familiar with the licensing process, told CNN.SpaceX needs to conduct an <a href="https://www.faa.gov/news/updates/?newsId=97082&amp;omniRss=news_updatesAoc&amp;cid=101_N_U=101_N_U">environmental assessment</a> to ensure that the Starship-Super Heavy system won't harm nearby wildlife or ecosystems around its launch pad in Boca Chica, Texas.The assessments and a launch license won't be processed in time for an early July launch, the source told CNN.The company may ultimately need a new environmental impact statement, which could take up to three years to complete, <a href="https://www.businessinsider.com/spacex-new-starship-prototype-sn11-lands-amid-debris-2021-3">Insider's Morgan McFall-Johnsen and Aylin Woodward reported</a> in March.Musk's <keyword id="41531" type="COMPANY" weightage="60" keywordseo="space">space</keyword> company has launched five prototypes of the 16-story Starship rocket. The first four exploded, but the <a href="https://www.businessinsider.com/spacex-sn15-starship-prototype-launches-lands-successfully-2021-4">fifth landed successfully</a>, meaning Starship can now be tested with the 23-story Super Heavy booster, designed to blast the rocket into orbit.The <a href="https://www.businessinsider.com/spacex-starship-launch-orbital-test-splashdown-hawaii-elon-musk-2021-5">first orbital test of Starship</a>, which is due to take around 90 minutes, is set to launch from South Texas and splash down off the coast of Hawaii, according to the company's FCC <a href="https://apps.fcc.gov/els/GetAtt.html?id=273481&amp;x=p;x=">filing</a> in May.SpaceX eventually wants the Starship system to carry humans to the moon and to <keyword id="47638" type="COMPANY" weightage="60" keywordseo="Mars">Mars</keyword>, returning back to Earth for repeat trips.Musk has said he is "<a href="https://www.businessinsider.com/musk-highly-confident-spacex-will-send-humans-to-mars-2026-2020-12">highly confident</a>" that SpaceX will launch an uncrewed Starship to Mars in 2024, followed by a crewed mission in 2026. <a href="https://www.businessinsider.com/elon-musk-spacex-starship-humans-mars-mission-2026-experts-question-2021-2">Space industry experts told Insider</a> that SpaceX could well reach Mars, but not as soon as Musk hopes.

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