By Ross Kerber
Nov 13 (Reuters) - Environmentalists fear the incoming administration of U.S. president-elect Donald Trump will undo efforts to slow the pace of climate change.
But Washington State voters sent a different message with their support for a carbon market, which you can read about below. I'm also including links to a story on how at least some oil companies want the U.S. to remain in the Paris climate agreement, and to our coverage from the ongoing U.N. climate summit in Baku, Azerbaijan.
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Carbon markets give environmentalists hope after US elections
A rare bright spot for environmentalists in last week's U.S. election results came in Washington State, where voters easily defeated an attempt to end the state's carbon market by a margin of 62% to 38%.
Analysts said the result was in line with widespread interest in the structures in the European Union, California and China that allow investors to put a price on emissions.
You can read my column on the topic this week by clicking here.
Company News
Top U.S. LNG exporter Cheniere Energy LNG.N favors the United States remaining in the Paris climate agreement and complying with methane emissions restrictions, cautioning the incoming Trump administration against reversals. Exxon XOM.N also said the U.S. should remain in the Paris agreement.
But the American Petroleum Institute urged the incoming Trump administration to ditch President Joe Biden's climate policies and did not mention staying in the Paris agreement in its wish list. The group's CEO Mike Sommers said oil companies were focused on both reducing emissions and meeting the world's energy needs "whether the United States is part of the agreement or not."
Consumer brands including Nestle NESN.S and Procter & Gamble PG.N said they conducted investigations after an environmental group said palm oil sourced from an illegally cleared wildlife reserve in Indonesia may have found its way into their supply chains.
Oil and gas major Shell SHEL.L won an appeal against a landmark ruling that required it to accelerate carbon reduction efforts, a blow to campaigners who have turned to legal channels to pursue climate action.
On my radar
To handle the growing energy demands of AI data centers, regulators should take steps like charging them higher fees for power and reconsidering subsidies for their construction, according to a new report from the Jack Kemp Foundation, a nonpartisan think tank.
My colleagues keep cranking out interesting stories from this year's U.N. climate summit including how the president of host country Azerbaijan lashed out at Western critics of his nation's oil and gas industry, and a post-election message from U.S. climate envoy John Podesta.
For daily updates on the summit known as COP29 you can sign up for Sharon Kits Kimathi's excellent Reuters Sustainable Switch newsletter here.
(Reporting by Ross Kerber in Boston; Editing by David Gregorio)
((ross.kerber@thomsonreuters.com; (617) 412 0093;))
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