Corrupt and Bankrupt FTX Got Higher ESG Rating for “Leadership and Governance” Than Exxon Mobil

(p. A14) Crypto dark knight Sam Bankman-Fried may have deceived investors, customers and various journalists and politicians. But now the FTX founder is at least telling the truth about a few things. Lo, he says that environmental, social and governance (ESG) investing is a fraud, and so was his progressive public posturing.

. . .

“Problems were brewing. Larger than I realized,” he tweeted. “In the future, I’m going to care less about the dumb, contentless, ‘good actor’ framework,” he added. “What matters is what you do—is *actually* doing good or bad, not just *talking* about doing good or *using ESG language*.”

Mr. Bankman-Fried is also acknowledging that he genuflected to regulators and Democratic lawmakers to win political protection. ESG ratings company Truvalue Labs even gave FTX a higher score on “leadership and governance” than Exxon Mobil, though the crypto exchange had only three directors on its board.

For the full editorial, see:

The Editorial Board. “Sam Bankman-Fried, ESG Truth-Teller.” The Wall Street Journal (Friday, Nov. 18, 2022): A14.

(Note: ellipsis added.)

(Note: the online version of the editorial has the date November 17, 2022, and has the title “Sam Bankman-Fried Becomes an ESG Truth-Teller.”)

Auto Experts Are Skeptical of EVs, but Are Afraid “So They Can’t Speak Out Loudly”

(p. A1) “People involved in the auto industry are largely a silent majority,” Mr. Toyoda said to reporters during a visit to Thailand. “That silent majority is wondering whether EVs are really OK to have as a single option. But they think it’s the trend so they can’t speak out loudly.”

. . .

(p. A6) The world’s biggest auto maker has said it sees hybrids, a technology it invented with the debut of the Toyota Prius in the 1990s, as an important option when EVs remain expensive and charging infrastructure is still being built out in many parts of the world. It is also developing zero-emission vehicles powered by hydrogen.

“Because the right answer is still unclear, we shouldn’t limit ourselves to just one option,” Mr. Toyoda said. Over the past few years, Mr. Toyoda said, he has tried to convey this point to industry stakeholders, including government officials—an effort he described as tiring at times.

Global car companies have made a sharp pivot to electric vehicles within the last few years, driven in part by the success of EV-only maker Tesla Inc.

. . .

At the same time, the legacy auto makers have a much broader base of customers, including many living in rural areas and developing economies with unreliable electricity supplies.

And their gas-engine businesses are still driving the bulk of profits needed to fund the costly shift to electric vehicles, which not only requires the development of new models but also construction of new facilities and battery plants.

The infrastructure to charge electric vehicles is meanwhile still lacking in the U.S. and many other parts of the world, making owning an EV still a challenge for many types of consumers.

. . .

Ryan Gremore, an Illinois-based dealer, who owns several brand franchises, said he gets a lot of customers inquiring about EVs, in part because of limited supplies.

That might give the impression of robust demand, but it is unclear how it will materialize when inventory levels at dealerships normalize, he added. “Is there interest in electric vehicles? Yes. Is it more than 10% to 15% of our customer base? No way,” Mr. Gremore said.

Mr. Toyoda’s long-held skepticism about a fully electric future has been shared by others in the Japanese car industry, as well.

Mazda Motor Corp. executives once cautioned that whether EVs were cleaner depends largely on where the electricity is produced. They also worried that EV batteries were too big and expensive to replace gas-powered models and better suited to the types of smaller vehicles that Americans didn’t want.

For the full story, see:

River Davis and Sean McLain. “Toyota Skeptical of Going All-EV.” The Wall Street Journal (Monday, Dec. 19, 2022 ): A1 & A6.

(Note: ellipses added.)

(Note: the online version of the story was updated Dec. 18, 2022, and has the title “Toyota Chief Says ‘Silent Majority’ Has Doubts About Pursuing Only EVs.”)

Smil Shows How Fossil Fuels “Are Indispensable to Feeding the World”

(p. C6) In “How the World Really Works” the distinguished Canadian environmental scientist Vaclav Smil distills a lifetime of erudition.

. . .

Mr. Smil describes the massive extent to which fossil fuels are required to extract and produce the core materials—ammonia-based fertilizers, steel, cement and plastics—that are indispensable to feeding the world and building the machines and infrastructure on which modern economies depend.

. . .

Within the realm of the possible, he writes, “one thing remains certain” about transitioning to renewable energy: “It will not be (it cannot be) a sudden abandonment of fossil carbon, nor even its rapid demise—but rather its gradual decline.”

For the full review, see:

William Barr. “12 Months of Reading; William Barr.” The Wall Street Journal (Saturday, Dec. 10, 2021): C6.

(Note: ellipses added.)

(Note: the online version of the review has the date December 8, 2022, and has the title “Who Read What in 2022: Political and Business Leaders.”)

The book praised by William Barr is:

Smil, Vaclav. How the World Really Works: The Science Behind How We Got Here and Where We’re Going. New York: Viking, 2022.

How to Resist the Heat Death Implied by the Second Law of Thermodynamics

When I was a young philosophy student I sometimes worried that the Second Law of Thermodynamics ultimately made meaningless all human perseverance toward progress. Physics Nobel laureate Frank Wilczek gives young philosophers reasons for hope.

(p. C4) The capstone of thermodynamics is its so-called Second Law, . . ., which states that entropy, a measure of disorder, increases over time—distinctive structure erodes. Featureless equilibrium is the state of maximum entropy, toward which the Second Law drives us.

The inexorable logic of the Second Law leads, in the long run, to a bland universe wherein nothing changes—that is, heat death.

. . .

There are several ways that our distant descendants, or other embodiments of mind in the universe, might resist heat death. Here are some ideas that occurred to me . . .:

First, it is probably possible to burn matter further than stars do. Stars rearrange protons and neutrons but do not change their overall number. Burning those particles would give access to hundreds of times more energy. Another (barely) conceivable form of fuel is “dark matter.” At present, nobody knows what it is, but there’s lots of it in the universe.

Second, future engineers also might be able to arrange controlled collisions of planets or dead stars, to tap into the energy the crashes liberate.

Third, future minds themselves might be able to run on very limited power. Recent theoretical work on reversible and quantum computers, and on time crystals, has shown that there’s no lower limit to how little energy they need to keep making progress, or at least to keep moving.

Fourth, since we don’t really understand what triggered the Big Bang, it’s conceivable that someday we’ll be able to engineer something similar, and thereby rejuvenate the universe.

For the full commentary, see:

Frank Wilczek. “WILCZEK’S UNIVERSE; Delaying the Heat Death of The Universe.” The Wall Street Journal (Saturday, Sept. 3, 2022): C4.

(Note: ellipses added.)

(Note: the online version of the commentary has the date September 1, 2022, and has the same title as the print version.)

The “Longevity Under Adversity” of the Bristlecone Pine “Is a Metaphorical Dose of Qualified Hope in an Unstable World”

(p. C9) . . ., trees seem to grow on a timescale humans can comprehend. A seed planted by a child will be largely mature when she is—and will likewise get thicker and wrinklier as it ages. The tree, however, might long outlive her; there’s a reason we use the shape of a tree to chart the chain of human generations.

This intertwining of biology and chronology is the subject of Jared Farmer’s rich but overstuffed “Elderflora: A Modern History of Ancient Trees.”

. . .

Mr. Farmer, raised in Utah, is partial to the Great Basin of the American West, cradle of the oldest living things securely dated: gnarled specimens of bristlecone pine. The coronation of bristlecones in the 1950s followed a few decades of scientific progress. Counting rings had long been the main method of tree dating, one that held an intuitive power even beyond the laboratory. Slices of big trunks marked with purportedly significant dates had become popular exhibits, a way to make time tangible. Scientists at the University of Arizona perfected the trick of combining multiple samples and lining up shared clumps of thick and thin rings—caused by year-to-year variation in climate—to extend the chronology beyond the span of a single specimen.

Using this technique, the pioneering dendrochronologist Edmund Schulman pegged one bristlecone at more than 4,500 years old, announcing his discovery in a National Geographic article whose publication he didn’t live to see. Mr. Farmer chronicles Schulman’s career in novelistic close-third-person narration—one more idiosyncrasy in this fascinating farrago of a book—lingering on Schulman’s coinage “longevity under adversity.” For Schulman, the phrase was a tribute to the bristlecone’s ability to endure extreme conditions through partial death; for Mr. Farmer, it is a metaphorical dose of qualified hope in an unstable world.

For the full review, see:

Timothy Farrington. “Time Made Tangible.” The Wall Street Journal (Saturday, Dec. 3, 2022): C9.

(Note: ellipses added.)

(Note: the online version of the review has the date December 2, 2022, and has the title “‘Elderflora’ Review: Ancient Trees Grow Among Us.”)

The book under review is:

Farmer, Jared. Elderflora: A Modern History of Ancient Trees. New York: Basic Books, 2022.

Toyota Pressured to “Dial Back” Its Defense of Hybrids as a Practical Bridge to EVs

(p. B2) Mr. Toyoda, Toyota’s chief, has been one of the industry’s most prominent voices of caution about EVs. He has questioned whether the vehicles are as environmentally friendly as advertised and expressed doubt that consumers want them.

Toyota has said it believes hybrids can reduce carbon emissions while the battery supply chains and charging networks necessary to support big fleets of EVs are built globally over the coming decades. Hybrid cars—which made up nearly 30% of Toyota and Lexus global shipments for the most recent quarter—are helping the auto maker meet tightening emissions rules in markets like Europe.

Demand for hybrids also helped Toyota reach a record operating profit of ¥3 trillion, equivalent to $21 billion, for the fiscal year ended in March. Its stock price on the Tokyo Stock Exchange has held up reasonably well, down 9% this year, while other auto makers have suffered steeper declines.

Mr. Toyoda has been trying to understand why some investors and environmental groups remain unconvinced about the company’s electrification strategy.

. . .

People at Toyota said company executives have been advised by public-relations specialists and others in the company to dial back negative comments about EVs and instead highlight their benefits as well as Toyota’s extensive investments in the technology.

Sage Advisory Services, an investment management firm in Austin, Texas, that holds Toyota bonds, said it has sensed a shift in rhetoric.

Sage Advisory had approached the car maker last year with concerns about its EV stance, to which Toyota responded with its usual arguments, including about hybrid cars, said Sage Vice President Emma Harper. She said the points made sense to her but were hard for the general public to grasp.

More recently, she said, Toyota has “flipped over and they’ve felt the change in the tide and how consumers and politicians and other stakeholders are feeling about the transition away from fossil-fuel cars.”

For the full story, see:

River Davis. “Toyota Aims to Face Critics of Its EV Policies.” The Wall Street Journal (Monday, Sept. 26, 2022): B1-B2.

(Note: ellipsis added.)

(Note: the online version of the story has the date September 25, 2022, and has the title “Toyota Softens Toward Critics of Its EV Push.” Where the versions differ, the quotes above follow the more detailed online version.)

Environmentalists Throw Mashed Potatoes on Monet Landscape

(p. A7) Two climate activists threw mashed potatoes on a glass-covered painting by the celebrated French Impressionist Claude Monet on Sunday [Oct. 23, 2022] inside a German museum, the latest art attack intended to draw attention to climate change.

Videos show the activists dousing one of the artist’s works, “Grainstacks,” with a thick yellow substance that covered the painting’s warm red hues. The oil on canvas is one of 25 paintings the artist made around 1890 of stacks of hay in the fields near his house in Giverny, France.

The activists, a man and a woman, each glued a hand to the wall by the painting. Then, the woman shouted in German that the world was in “a climate catastrophe, and all you are afraid of is tomato soup or mashed potatoes in a painting,” referring to a similar attack this month in London by activists who threw cans of tomato soup on a painting by Vincent van Gogh.

. . .

Across Europe, climate protesters have sought to capture headlines in recent months by engaging in similar stunts tied to beloved pieces in the art world. In Britain, activists glued themselves to about a half-dozen masterpieces, including a 16th-century copy of “The Last Supper” at the Royal Academy, a major art museum in London. And in Italy, activists glued themselves to a sculpture held in the Vatican and to works in the Uffizi Gallery, in Florence.

For the full story, see:

Eduardo Medina. “Monet Painting Is Splashed In Latest Stunt Over Climate.” The New York Times (Tuesday, October 25, 2022): A7.

(Note: ellipsis, and bracketed date, added.)

(Note: the online version of the story was updated Nov. 8, 2022, and has the title “Climate Activists Throw Mashed Potatoes on Monet Painting.”)

Entrepreneurs Harvest Useful Protein Collagens From “Precision Fermentation” Rather Than From Slaughter of Animals

(p. B4) The multibillion-dollar push to make animals obsolete in the food industry has already produced pea-protein “bratwurst,” fungus molded into “ham” and “leather,” and “meat” cultured from chicken cells. Geltor, a seven-year-old company based in the Bay Area, is taking a different tack: bioengineering bacteria cells to produce animal proteins you’ll likely never taste.

Geltor is producing forms of collagen they say are identical to the proteins extracted from skin and bones. For now, those vegan collagens can be found in high-end skin care creams. But as the company grows, it’s eyeing other ingredients few Americans associate with animal farming, such as the elastin in your shampoo, the collagen peptides in your smoothie, and even the gelatin (which is hydrolyzed, or slightly broken-down, collagen) in your marshmallows. Alex Lorestani, co-founder and chief executive of Geltor, likes to talk about how the company’s proteins impose a lighter burden on the environment than the meat industry. The challenge, however, is how the company gets to the scale necessary to exert that kind of impact.

In 2012, Dr. Lorestani and co-founder Nick Ouzounov, both 35, were both pursuing doctorates in molecular biology at Princeton University when the invention of Crispr turbocharged the field of bio-design. “We can bio-design medicine,” Dr. Lorestani recalled discussing with his labmates that summer. “Why can’t we bio-design everything?”

Dr. Ouzounov eventually came up with a method — which he and Dr. Lorestani, in typical Bay Area techspeak, call “a platform” — for genetically modifying bacteria cells to reproduce a wide variety of animal proteins, a process that biotech firms are calling “precision fermentation.” In 2015, the two scientists formed Geltor.

For the full story, see:

Jonathan Kauffman. “Going Beyond Vegan ‘Meat’ to Bio-Designed Collagen.” The New York Times (Wednesday, August 3, 2022): B4.

(Note: the online version of the story has the date August 2, 2022, and has the title “Is Bio-Designed Collagen the Next Step in Animal Protein Replacement?”)

Chargers for Electric Vehicles “Are Often Broken”

(p. B1) The electric vehicle revolution is nearly here, but its arrival is being slowed by a fundamental problem: The chargers where people refuel these cars are often broken. One recent study found that about a quarter of the public charging outlets in the San Francisco Bay Area, where electric cars are commonplace, were not working.

. . .

Many sit in parking lots or in (p. B3) front of retail stores where there is often no one to turn to for help when something goes wrong. Problems include broken screens and buggy software. Some stop working midcharge, while others never start in the first place.

Some frustrated drivers say the problems have them second-guessing whether they can fully abandon gas vehicles, especially for longer trips.

“Often, those fast chargers have real maintenance issues,” said Ethan Zuckerman, a professor at the University of Massachusetts Amherst who has owned a Chevrolet Bolt for several years. “When they do, you very quickly find yourself in pretty dire straits.”

In the winter of 2020, Mr. Zuckerman was commuting about 150 miles each way to a job at the Massachusetts Institute of Technology. The cold winter weather can reduce the driving range of electric cars, and Mr. Zuckerman found himself needing a charge on the way home.

He checked online and found a station, but when he pulled up to it, the machine was broken. Another across the street was out, too, he said. In desperation, Mr. Zuckerman went to a nearby gas station and persuaded a worker there to run an extension cord to his car.

“I sat there for two and a half hours in the freezing cold, getting enough charge so that I could limp to the town of Lee, Mass., and then use another charger,” he said. “It was not a great night.”

The availability and reliability of public chargers remains a problem even now, he said.

. . .

There are few rigorous studies of charging stations, but one conducted this year by Cool the Earth, an environmental nonprofit in California, and David Rempel, a retired professor of bioengineering at the University of California, Berkeley, found that 23 percent of 657 public charging stations in the Bay Area were broken. The most common problems were that testers could not get chargers to accept payment or initiate a charge. In other cases, screens went blank, were not responsive or displayed error messages.

“Here we have actual field data, and the results, frankly, were very concerning,” said Carleen Cullen, executive director of Cool the Earth.

. . .

At most gas stations, a clerk is usually on duty and can see when some problems arise. With chargers, vandalism or other damage can be more difficult to track.

“Where there’s a screen, there’s a baseball bat,” said Jonathan Levy, EVgo’s chief commercial officer.

For the full story, see:

Niraj Chokshi. “E.V. Hassle: Locating A Charger That Works.” The New York Times (Tuesday, August 16, 2022): B1 & B3.

(Note: ellipses added.)

(Note: the online version of the story has the same date as the print version, and has the title “A Frustrating Hassle Holding Electric Cars Back: Broken Chargers.”)

Israel’s “Bold’ Creativity Yields Wine from Negev Desert

(p. A4) As growers in more established wine-producing areas of Europe and elsewhere in the world battle unpredictable, extreme weather, including scorching heat waves, Israelis have found themselves at the vanguard of dry-weather wine production, testing approaches that might soon find more global application.

And the work is being done in the Negev, home to hundreds of technology start-ups and a futuristic solar tower — and long a laboratory for experimentation in Israel.

“It is in the Negev that the creativity and pioneering vigor of Israel shall be tested,” read an inscription on the cafe’s wall — an iconic quote from David Ben-Gurion, Israel’s founding prime minister, who lived out his last years about 50 yards away, in an austere wooden cabin.

. . .

“To succeed in the Negev, you have to be bold and experiment,” said David Pinto, a vintner who planted his family plot with vines about three years ago.

. . .

With some 325 days of sunshine and little annual rainfall, the desert vines depend on drip irrigation, an innovation developed by another Negev collective in the 1960s that allows the farmer to tightly control the amount of water.

Desert vineyards also come with some natural advantages.

At night the temperatures drop steeply, even in midsummer, benefiting the vines. With low humidity, the Negev vines are exposed to few pests and fungi and require little pesticide spraying, making much of the wine production close to organic.

While artificial irrigation is frowned upon in traditional winegrowing regions in Europe, and is even banned in some locales, it may become more of a necessity.

And in a global wine industry that must adapt to climate change, Israel could be a role model, said Aaron Fait, an expert in desert research and agriculture at Ben-Gurion University of the Negev.

For the full story, see:

Isabel Kershner. “An Unexpected Vintage Grows in Israel’s Negev Desert.” The New York Times (Wednesday, September 7, 2022): A4.

(Note: ellipses added.)

(Note: the online version of the story has the same date as the print version, and has the title “Desert Winemaking ‘Sounds Absurd,’ but Israeli Vineyards in Negev Show the Way.”)

Senate Cedes Sovereignty on Air Conditioning HFC Regulation

(p. A17) WASHINGTON — The Senate voted on Wednesday to approve an international climate treaty for the first time in 30 years, agreeing in a rare bipartisan deal to phase out of the use of planet-warming industrial chemicals commonly found in refrigerators and air-conditioners.

. . .

Many American manufacturers had a business incentive to support the amendment. Under the pact, nations that do not ratify the amendment will have restricted access to expanding international markets starting in 2033.

Some Republicans from states with many chemical manufacturers supported the Kigali deal.

. . .

Americans for Prosperity, a political action committee founded by the billionaire Koch brothers, sent a letter to lawmakers last week saying that ratifying the Kigali Amendment would be an “abdication of U.S. sovereignty over environmental regulation” to the United Nations. The group also argued it would raise the price of air-conditioning, refrigeration and industrial cooling for American consumers.

For the full story, see:

Lisa Friedman and Coral Davenport. “Senate Ratifies Global Pact to Curb HFCs, Used in Cooling.” The New York Times (Thursday, September 22, 2022): A17.

(Note: ellipses added.)

(Note: the online version of the story has the date Sept. 21, 2022, and has the title “Senate Ratifies Pact to Curb a Broad Category of Potent Greenhouse Gases.” Where there is a minor difference between the online and print versions, the passages quoted above follow the online version.)