Sustainability

Global food prices on the downslide, UN agency says

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Today we’ll get ahead of the extreme cold that’s overtaking the northeastern U.S. and also look at House Republicans’ new move to combat environment-minded investing. Plus: Chess players face off with air pollution.

But first: How global first prices dropped in January.

UN food agency reports January drop in global prices

Food prices in January dropped worldwide for the 10th consecutive month, the United Nations’ Food and Agriculture Organization (FAO) announced on Friday. 

Price indices for vegetable oils, dairy products and sugar fueled last month’s decline, the U.N. food agency stated, while releasing new reports on food product forecasts.   

The FAO’s Food Price Index dropped 17.9 percent below its all-time high — achieved in March 2022 after Russia’s invasion of Ukraine, according to the agency.

This downward trend was fueled in part by an agreement signed in the summer to enable Ukrainian grain exports amid the ongoing war, the FAO explained.

Some highlights:

The FAO also raised its forecast for global cereal production, while warning that supplies are still likely to tighten this year. 

“Looking ahead to 2023, early indications point to likely area expansions for winter wheat cropping in the northern hemisphere, especially in the United States,” the agency stated. 

The FAO attributed that expansion to elevated wheat prices but cautioned that high fertilizer costs could negatively impact yield.   

New England bundles up for historic Arctic front

New England is bracing for monumental cold this weekend as a severe Arctic front rolls in this weekend, our colleague Julia Shapero reported for The Hill.  

“This is an epic, generational Arctic outbreak,” a branch of the National Weather Service (NWS) in Caribou, Maine, said, according to CNN.

Fears of frostbite: The cold blast is expected to bring wind chills of minus 50 degrees Fahrenheit and colder, according to the NWS’s Weather Prediction Center.   

Record-setting cold: Wind chills this weekend could approach record-low levels, with cold temperatures already settling in Friday morning in parts of New England, Axios reported. 

Why is it so frigid? The extreme cold is a result of a weather system known as a “tropospheric polar vortex,” according to Axios. 

House GOP forms group to challenge ESG investing

House Republicans on Friday announced they are launching a working group to combat environmental, social and governance (ESG) investing, our colleague Rachel Frazin reported for The Hill.  

GOP vs ‘rogue regulators’: A House Financial Services Committee press release said the group would battle what it deemed a “threat to our capital markets.” 

What’s at issue? ESG investing is a broad characterization of attempts to invest ethically.

Why is Huizenga against the SEC proposal? Both these rules and ESG in general have received significant opposition from Republicans, Frazin noted. 

SEC MAY BE EASING UP CLIMATE-DISCLOSURE RULES

The SEC may be weighing the idea of easing its proposed climate-disclosure rules following pushback from investors, The Wall Street Journal reported.  

The regulator is reevaluating the financial reporting parts of the plan, which would require companies to disclose costs related to global warming, people close to the agency told the newspaper.

Will disclosure be scrapped entirely? The final version of the SEC rules will likely still require some such disclosures in financial statements, the Journal reported.

Nonetheless, the SEC is considering making these mandates less burdensome than initially proposed, according to the report.

Climate change put into Harvard Medical curriculum 

Harvard Medical School will now be including climate change in its curriculum, affirming a student-led campaign on environmental health, The Harvard Crimson reported.

Unanimous approval: The Harvard Medical School Educational Policy and Curriculum Committee voted unanimously last month to officially integrate climate change and health into the official curriculum, according to the Crimson. 

Championing the effort was Gaurab Basu, who will direct the new program, and a cohort of students from Harvard’s Students for Environmental Awareness in Medicine organization, the Crimson reported.

What’s in the new curriculum? The program will explore the impact of climate change on health and health inequality, according to the Crimson. 

Disproportionate impacts: Basu, the new curriculum director, stressed that the effects of climate change on health equity must be taught and understood.

How does Harvard compare to other schools? The percentage of medical schools integrating the health impacts of climate change has doubled over the past three years, the Globe reported.

MIT researchers call checkmate on air pollution 

Chess player performance declines considerably when more particulate matter is polluting the air, a recent study has found. 

Harnessing a ‘chess engine’: When contending with such conditions, players tend to make more suboptimal moves, according to the study, published this week in Management Science. 

What did the chess engine reveal? “We find that when individuals are exposed to higher levels of air pollution, they make more mistakes, and they make larger mistakes,” co-author Juan Palacios, an economist at the Massachusetts Institute of Technology, said in a statement.  

A bit of pollution goes a long way: With just a modest rise in pollution levels, the researchers saw that a player’s probability of making an error increased by 2.1 percentage points. 

Worse air quality means worse play: When air pollution levels climbed further, chess players performed even more poorly when under time constrains.  

Space to breathe and time to think: “Against comparable opponents in the same tournament round, being exposed to different levels of air quality makes a difference for move quality and decision quality,” Palacios said. 

Follow-up Friday

In which we revisit some issues we’ve covered this week.  

Treasury broadens definition of SUVs that qualify for EV tax credit  

Biden administration to settle tribal water rights claims 

China’s air quality improvements spilling over into South Korea 

Note: This newsletter will transition to a weekly publication schedule next week. You can expect it in your inbox every WednesdayWe believe this new format will help us bring you more hard-hitting work and reporting on a variety of sustainability issues.

As always, you can keep tabs on our work throughout the week by visiting the sustainability section of The Hill or our individual author pages (Saul’s and Sharon’s).

Have a good weekend and we’ll see you next week!