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According to IPCC author Andy Reisinger, “net zero by 2050” misses some key points.

Tackling climate change is a complex puzzle. Hitting internationally agreed upon targets to limit warming requires the world to reduce multiple types of greenhouse gases from a multiplicity of sources on diverse timelines and across varying levels of responsibility and control by individual, corporate, and state actors. It’s no surprise the catchphrase “net zero by 2050” has taken off.
Various initiatives have sprung up to distill this complexity for businesses and governments who want to do (or say they are doing) what the “science says” is necessary. The nonprofit Science Based Targets initiative, for example, develops standard roadmaps for companies to follow to act “in line with climate science.” The groups also vets corporate plans and deems them to either be “science based” or not. Though entirely voluntary, SBTi’s approval has become a nearly mandatory mark of credibility. The group has validated the plans of more than 5,500 companies with more than $46 trillion in market capitalization — nearly half of the global economy.
But in a commentary published in the journal Nature last week, a group of Intergovernmental Panel on Climate Change experts argue that SBTi and other supposedly “science based” target-setting efforts misconstrue the science and are laden with value judgments. By striving to create straightforward, universal rules, they flatten more nuanced considerations of which emissions must be reduced, by whom and by when.
“We are arguing that those companies and countries that are best resourced, have the highest capacity to act, and have the highest responsibility for historical emissions, probably need to go a lot further than the global average,” Andy Reisinger, the lead author of the piece, told me.
In response to the paper, SBTi told me it “welcomes debate,” and that “robust debate is essential to accelerate corporate ambition and climate action.” The group is currently in the process of reviewing its Net-Zero Standard and remains “committed to refining our approaches to ensure they are effective in helping corporates to drive the urgent emissions reductions needed to combat the climate crisis.”
The commentary comes as SBTi’s reputation is already on shaky ground. In April, its board appeared to go rogue and said that the group would loosen its standards for the use of carbon offsets. The announcement was met first with surprise and later with fierce protest from the nonprofit’s staff and technical council, who had not been consulted. Environmental groups accused SBTi of taking the “science” out of its targets. The board later walked back its statement, saying that no change had been made to the rules, yet.
But interestingly enough, the new Nature commentary argues that SBTi’s board was actually on the right track. I spoke to Reisinger about this, and some of the other ways he thinks science based targets “miss the mark.”
Reisinger, who’s from New Zealand, was the vice-chair of the United Nations Intergovernmental Panel on Climate Change’s mega-report on climate mitigation from 2022. I caught him just as he had arrived in Sofia, Bulgaria, for a plenary that will determine the timeline for the next big batch of UN science reports. Our conversation has been edited for length and clarity.
Was there something in particular that inspired you to write this? Or were you just noticing the same issues over and over again?
There were probably several things. One is a confusion that’s quite prevalent between net zero CO2 emissions and net zero greenhouse gas emissions. The IPCC makes clear that to limit warming at any level, you need to reach net zero CO2 emissions, because it’s a long lived greenhouse gas and the warming effect accumulates in the atmosphere over time. You need deep reductions of shorter lived greenhouse gases like methane, but they don’t necessarily have to reach zero. And yet, a lot of people claim that the IPCC tells us that we have to reach net zero greenhouse gas emissions by 2050, which is simply not the case.
Of course, you can claim that there’s nothing wrong, surely, with going to net zero greenhouse gas emissions because that’s more ambitious. But there’s two problems with that. One is, if you want to use science, you have to get the science correct. You can’t just make it up and still claim to be science-based. Secondly, it creates a very uneven playing field between those who mainly have CO2 emissions and those who have non-CO2 emissions as a significant part of their emissions portfolio — which often are much harder to reduce.
Can you give an example of what you mean by that?
You can rapidly decarbonize and actually approach close to zero emissions in your energy generation, if that’s your dominant source of emissions. There are viable solutions to generate energy with very low or no emissions — renewables, predominantly. Nuclear in some circumstances.
But to give you another example, in Australia, the Meat and Livestock Association, they set a net zero target, but they subsequently realized it’s much harder to achieve it because methane emissions from livestock are very, very difficult to reduce entirely. Of course you can say, we’ll no longer produce beef. But if you’re the Cattle Association, you’re not going to rapidly morph into producing a different type of meat product. And so in that case, achieving net zero is much more challenging. Of course, you can’t lean back and say, Oh, it’s too difficult for us, therefore we shouldn’t try.
I want to walk through the three main points to your argument for why science-based targets “miss the mark.” I think we’ve just covered the first. The second is that these initiatives put everyone on the same timeline and subject them to the same rules, which you say could actually slow emissions reductions in the near term. Can you explain that?
The Science Based Targets initiative in particular, but also other initiatives that provide benchmarks for companies, tend to want to limit the use of offsets, where a company finances emission reductions elsewhere and claims them to achieve their own targets. And there’s very good reasons for that, because there’s a lot of greenwashing going on. Some offsets have very low integrity.
At the same time, if you set a universal rule that all offsets are bad and unscientific, you’re making a major mistake. Offsets are a way of generating financial flows towards those with less intrinsic capacity to reduce their emissions. So by making companies focus only on their own reductions, you basically cut off financial flows that could stimulate emission reductions elsewhere or generate carbon dioxide removals. Then you’re creating a problem for later on in the future, when we desperately need more carbon dioxide removal and haven’t built up the infrastructure or the accountability systems that would allow that.
As you know, there’s a lot of controversy about this right now. There are many scientists who disagree with you and don’t want the Science Based Targets initiative to loosen its rules for using offsets. Why is there this split in the scientific community about this?
I think the issue arises when you think that net zero by 2050 is the unquestioned target. But if you challenge yourself to say, well net zero by 2050 might be entirely unambitious for you, you have to reduce your own emissions and invest in offsets to go far beyond net zero by 2050 — then you might get a different reaction to it.
I think everybody would agree that if offsets are being used instead of efforts to reduce emissions that are under a company’s direct control, and they can be reduced, then offsets are a really bad idea. And of course, low integrity offsets are always a bad idea. But the solution to the risk of low integrity cannot be to walk away from it entirely, because otherwise you’ve further reduced incentives to actually generate accountability mechanisms. So the challenge would be to drive emission reductions at the company level, and on top of that, create incentives to engage in offsets, to increase financial flows to carbon dioxide removal — both permanent and inherently non permanent — because we will need it.
My understanding is that groups like SBTi and some of these other carbon market integrity initiatives agree with what you’ve just said — even if they don’t support offsetting emissions, they do support buying carbon credits to go above and beyond emissions targets. They are already advocating for that, even if they’re not necessarily creating the incentives for it.
I mean, that’s certainly a move in the right direction. But it’s creating this artificial distinction between what the science tells you, the “science based target,” and then the voluntary effort beyond that. Whereas I think it has to become an obligation. So it’s not a distinction between, here’s what the science says, and here’s where your voluntary, generous, additional contribution to global efforts might go. It is a much more integrated package of actions.
I think we’re starting to get at the third point that your commentary makes, which is about how these so-called science-based targets are inequitable. How does that work?
There’s a rich literature on differentiating targets at the country level based on responsibility for warming, or a capacity-based approach that says, if you’re rich and we have a global problem, you have to use your wealth to help solve the global problem. Most countries don’t because the more developed you are, the more unpleasant the consequences are.
At the company level, SBTi, for example, tends to use the global or regional or sectoral average rate of reductions as the benchmark that an individual company has to follow. But not every company is average, and systems transitions follow far more complex dynamics. Some incumbents have to reduce emissions much more rapidly, or they go out of business in order to create space for innovators to come in, whose emissions might rise in the near term before they go down, but with new technologies that allow deeper reductions in the long term. Assuming a uniform rate of reduction levels out all those differences.
It’s far more challenging to translate equity into meaningful metrics at the company level. But our core argument is, just because it’s hard, that cannot mean let’s not do it. So how can we challenge companies to disclose their thinking, their justification about what is good enough?
The Science Based Targets initiative formed because previously, companies were coming up with their own interpretations of the science, and there was no easy way to assess whether these plans were legitimate. Can you really imagine a middle ground where there is still some sort of policing mechanism to say whether a given corporate target is good enough?
That’s what we try to sketch as a vision, but it certainly won’t be easy. I also want to emphasize that we’re not trying to attack SBTi in principle. It’s done a world of good. And we certainly don’t want to throw the baby out with the bathwater to just cancel the idea. It’s more to use it as a starting point. As we say in our paper, you can almost take an SBTi target as the definition of what is not sufficient if you’re a company located in the Global North or a multinational company with high access to resources — human, technology and financial.
It was a wild west before SBTi and we’re not saying let’s go back to the wild west. We’re saying the pendulum might have swung too far to a universal rule that applies to everybody, but therefore applies to nobody.
There’s one especially scathing line in this commentary. You write that these generic rules “result in a pseudo-club that inadequately challenges its self-selected members while setting prohibitive expectations for those with less than average capacity.” We’ve already talked about the second half of this statement, but what do you mean by pseudo-club?
You write a science based target as a badge of achievement, a badge of honor on your company profile, assuming that therefore you have done all that can be expected of you when it comes to climate change. Most of the companies that have adopted science based targets are located in the Global North, or operate on a multinational basis and have therefore quite similar capacity. If that’s what we’re achieving — and then there’s a large number of companies that can’t possibly, under their current capacity, set science-based targets because they simply don’t have the resources — then collectively, we will fail. Science cannot tell you whether you have done as much as you could be doing. If we let the simplistic rules dominate the conversation, then we’re not going to be as ambitious as we need to be.
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The offshore wind developer was in the process of completing necessary repairs when the administration issued its stop work order, according to court filings.
In the Atlantic ocean south of Massachusetts, 10 wind turbine towers, each 500 feet tall, stand stripped of their rotary blades. Stuck in this bald state due to the Trump administration’s halt on offshore wind construction, the towers are susceptible to lightning strikes and water damage. This makes them a potential threat to public safety, according to previously unreported court filings from the project developer, Vineyard Wind.
The company filed for an injunction against Trump’s stop work order last week. The order posed a unique threat to Vineyard Wind, as the project is 95% complete and its contract with a key construction boat is set to expire on March 31, the filing said. “If construction is not completed by that date, the partially completed wind turbines will be left in an unsafe condition and Vineyard Wind will incur a series of financial consequences that it likely could not survive,” the company wrote.
One of the final tasks the company was working on was replacing faulty blades on nearly two dozen turbine towers. In July 2024, one of the installed blades snapped in two, sending fiberglass and other debris crashing into the sea and eventually onto the beaches of Nantucket. The incident revealed a manufacturing defect at the Canadian factory where the blades were made. After multiple investigations into the incident, the company reached an agreement with the Bureau of Ocean Energy Management and the Bureau of Safety and Environmental Enforcement to replace the defective equipment with blades produced at a different factory in France.
Trump’s construction freeze contained an exception for activities “necessary to respond to emergency situations and/or to prevent impacts to health, safety, and the environment.” So after the order came down on December 22, Vineyard Wind reached out to the relevant regulators and asked permission to continue its blade replacement process on safety grounds, the company explained in court filings. BSEE responded that the company could remove the faulty blades on the 10 remaining towers, but could not replace them.
The decision highlights an apparent double standard in the administration’s considerations of public safety. The stop work order itself was intended to “protect the American people,” according to Secretary of the Interior Doug Burgum. Yet the agency has refused to let construction move forward to mitigate risks created by the stoppage.
Testimony submitted by Steven Simkins, Vineyard Wind’s Wind turbine team lead, describes the dangers of leaving the towers bladeless for an extended period of time — a risk compounded by the ticking clock on the company’s construction boat contract. “The wind turbine was designed to be constructed completely and only be in a hammerhead state, without blades, for a brief amount of time during installation,” Simkins wrote.
He warned of three main liabilities. First, the towers are equipped with a lightning protection system, but the system’s receptors and conductors extend along the blades. Without the blades, the towers are essentially lightning rods, at risk of igniting an electrical fire, Simkins explained.
The three giant holes where the blades would be installed are also sitting open, with tarps covering them as temporary protection. That means that water, ice, and humidity could get into the nacelle, the top part of the tower that houses all of the electrical and mechanical systems, which are not designed to weather this kind of exposure. “Not only will this lead to prolonged offshore work replacing damaged equipment but it also puts the safety of the workers at risk,” Simkins wrote. “Electrical cabinets that have experienced some level of corrosion become less safe and increase the risk of an arc flash event.”
Lastly, the 500-foot towers are being roiled by winter wind and waves, which causes them to sway. The blades are designed to capture that wind, reducing its force on the towers. Without them, the “fatigue” on the towers will be exacerbated, “and the design has accounted for a limited amount of such fatigue over the total life of the structure.”
Court documents show that Vineyard Wind — the last of five affected companies to file for an injunction against Trump’s stop work order — held off on litigation as it made multiple attempts to convince the administration that completing blade installation was necessary to mitigate safety risks.
Vineyard Wind also sent BSEE verification of its safety claims by DNV Energy Systems, a Danish company it was required to retain to “ensure that the Project is installed in accordance with accepted engineering practices and, when necessary, to provide reports to BSEE regarding incidents affecting Critical Safety Systems.” But BSEE disagreed and denied Vineyard Wind’s request.
The Trump administration filed a response in the case on Tuesday, with BSEE’s Principal Deputy Director Kenneth Stevens testifying that the bureau’s technical personnel had “determined that there should be no structural issues associated with the tower and nacelle-only configuration if they were installed correctly.” He noted that the towers had been “routinely left in this configuration repeatedly” while the project was under construction over the past year and a half “with no reported adverse impacts to safety.”
Vineyard Wind did not respond to a request for comment on that assertion. A hearing in the case is scheduled for Friday. Three separate district judges have already granted injunctions to offshore projects affected by the stop work order: Revolution Wind, Empire Wind, and Dominion Energy’s Coastal Virginia offshore wind project. Each judge found that the companies were “likely” to succeed in showing that the stop work order violated the Administrative Procedures Act, and allowing them to continue construction.
Jael Holzman contributed reporting.
One of the buzziest climate tech companies in our Insiders Survey is pushing past the “missing middle.”
One of the buzziest climate tech companies of the past year is proving that a mature, hitherto moribund technology — conventional geothermal — still has untapped potential. After a breakthrough year of major discoveries, Zanskar has raised a $115 million Series C round to propel what’s set to be an investment-heavy 2026, as the startup plans to break ground on multiple geothermal power plants in the Western U.S.
“With this funding, we have a six power plant execution plan ahead of us in the next three, four years,” Diego D’Sola, Zanskar’s head of finance, told me. This, he estimates, will generate over $100 million of revenue by the end of the decade, and “unlock a multi-gigawatt pipeline behind that.”
The size of the round puts a number to climate world’s enthusiasm for Zanskar. In Heatmap’s Insider’s Survey, experts identified Zanskar as one of the most promising climate tech startups in operation today.
Zanskar relies on its suite of artificial intelligence tools to locate previously overlooked conventional geothermal resources — that is, naturally occurring reservoirs of hot water and steam. Trained on a combination of exclusive subsurface datasets, modern satellite and remote sensing imagery, and fresh inputs from Zanksar’s own field team, the company’s AI models can pinpoint the most promising sites for exploration and even guide exactly what angle and direction to drill a well from.
Early last year, Zanskar announced that it had successfully revitalized an underperforming geothermal power plant in New Mexico by drilling a new pumped well nearby, which has since become the most productive well of this type in the U.S. That was followed by the identification of a large geothermal resource in northern Nevada, where exploratory wells had been drilled for decades but no development had ever occurred. Just last month, the company revealed a major discovery in western Nevada — a so-called “blind” geothermal system with no visible surface activity such as geysers or hot springs, and no history of exploratory drilling.
“This is a site nobody had ever had on the radar, no prior exploration,” Carl Hoiland, Zanskar’s CEO, told me of this latest discovery, dubbed “Big Blind.” He described it as a tipping point for the industry, which had investors saying, “Okay, this is starting to look more like a trend than just an anomaly.”
Spring Lane Capital led Zanskar’s latest round, which also included Obvious Ventures, Union Square Ventures, and Lowercarbon Capital, among others. Spring Lane aims to fill the oft-bemoaned “missing middle” of climate finance — the stage at which a startup has matured beyond early-stage venture backing but is still considered too risky for more traditional infrastructure investors.
Zanskar now finds itself squarely in that position, needing to finance not just the drills, turbines, and generators for its geothermal plants, but also the requisite permitting and grid interconnection costs. D’Sola told me that he expects the company to close its first project financing this quarter, explaining that its ambitious plans require “north of $600 million in total capital expenditures, the vast majority of which will come from non-dilutive sources or project level financing.”
Unsurprisingly, the company anticipates that data centers will be some of its first customers, with hyperscalers likely working through utilities to secure the clean energy attributes of Zanskar’s grid-connected power. And while the West Coast isn’t the primary locus of today’s data center buildout, Hoiland thinks Zanskar’s clean, firm, low-cost power will help draw the industry toward geothermally rich states such as Utah and Nevada, where it’s focused.
“We see a scenario where the western U.S. is going to have some of the cheapest carbon-free energy, maybe anywhere in the world, but certainly in the United States.” Hoiland told me.
Just how cheap are we talking? Using the levelized cost of energy — which averages the lifetime cost of building and operating a power plant per unit of electricity generated — Zanskar plans to deliver electricity under $45 per megawatt-hour by the end of this decade. For context, the Biden administration set that same cost target for next-generation geothermal systems such as those being pursued by startups like Fervo Energy and Eavor — but projected it wouldn’t be reached 2035.
At this price point, conventional geothermal would be cheaper than natural gas, too. The LCOE for a new combined-cycle natural gas plant in the U.S. typically ranges from $48 to $107 per megawatt-hour.
That opens up a world of possibilities, Hoiland said, with the startup’s’s most optimistic estimates showing that conventional geothermal could potentially supply all future increases in electricity demand. “But really what we’re trying to meet is that firm, carbon-free baseload requirement, which by some estimates needs to be 10% to 30% of the total mix,” Hoiland said. “We have high confidence the resource can meet all of that.”
On New Jersey’s rate freeze, ‘global water bankruptcy,’ and Japan’s nuclear restarts
Current conditions: A major winter storm stretching across a dozen states, from Texas to Delaware, and could hit by midweek • The edge of the Sahara Desert in North Africa is experiencing sandstorms kicked up by colder air heading southward • The Philippines is bracing for a tropical cyclone heading toward northern Luzon.
Mikie Sherrill wasted no time in fulfilling the key pledge that animated her campaign for governor of New Jersey. At her inauguration Tuesday, the Democrat signed a series of executive orders aimed at constraining electricity bills and expanding energy production in the state. One order authorized state utility regulators to freeze rate hikes. Another directed the New Jersey Board of Public Utilities “to open solicitations for new solar and storage power generation, to modernize gas and nuclear generation so we can lower utility costs over the long term.” Now, as Heatmap’s Matthew Zeitlin put it, “all that’s left is the follow-through,” which could prove “trickier than it sounds” due to “strict deadlines to claim tax credits for renewable energy development looming.”
Last month, the environmental news site Public Domain broke a big story: Karen Budd-Falen, the No. 3 official at the Department of the Interior, has extensive financial ties to the controversial Thacker Pass lithium mine in northern Nevada that the Trump administration is pushing to fast track. Now The New York Times is reporting that House Democrats are urging the Interior Department’s inspector general to open an investigation into the multimillion-dollar relationship Budd-Falen’s husband has with the mine’s developer. Frank Falen, her husband, sold water from a family ranch in northern Nevada to the subsidiary of Lithium Americas for $3.5 million in 2019, but the bulk of the money from the sale depended on permit approval for the project. Budd-Falen did not reveal the financial arrangement on any of her four financial disclosures submitted to the federal government when she worked for the Interior Department during President Donald Trump’s first term from 2018 to 2021.
House Republicans, meanwhile, are planning to vote this week to undo Biden-era restrictions on mining near more than a million acres of Minnesota wilderness. “Mining is huge in Minnesota. And all mining helps the school trust fund in Minnesota as well. So it benefits all schools in the state,” Representative Pete Stauber, a Minnesota Republican and the chair of the Natural Resources Subcommittee on Energy and Mineral Resources, said of the rule-killing bill he sponsored. While the vote is expected to draw blowback from environmentalists, E&E News noted that it could also agitate proceduralists who oppose the GOP’s continued “use of the rule-busting Congressional Review Act for actions that have not been traditionally seen as rules.” Still, the move is likely to fuel the dealmaking boom for critical minerals. As Heatmap’s Katie Brigham wrote in September, “everybody wants to invest” in startups promising to mine and refine the metals over which China has a near monopoly.
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A new United Nations report declares that the world has entered an era of “global water bankruptcy,” putting billions of people at risk. In an interview with The Guardian, Kaveh Madani, the report’s lead author, said that while not every basin and country is directly at risk, trade and migration are set to face calamity from water shortages. Upward of 75% of people live in countries classified as water insecure or critically water insecure, and 2 billion people live on land that is sinking as groundwater aquifers collapse. “This report tells an uncomfortable truth: Many critical water systems are already bankrupt,” Madani said. “It’s extremely urgent [because] no one knows exactly when the whole system would collapse.”

The Democratic Republic of the Congo has given the U.S. government a vetted list of mining and processing projects open to American investment. The shortlist, which Mining.com said was delivered to U.S. officials last week, includes manganese, gold, and cassiterite licenses; a copper-cobalt project and a germanium-processing venture; four gold permits; a lithium license; and mines producing cobalt, gold, and tungsten. The potential deals are an outgrowth of the peace agreement Trump brokered between the DRC and Rwanda-backed rebels, and could offer Washington a foothold in a mineral-rich country whose resources China has long dominated. But establishing an American presence in an unstable African country is a risky investment. As I reported for Heatmap back in October, the Denver-based Energy Fuels’ $2 billion mining project in Madagascar was suddenly thrown into chaos when the island nation’s protests resulted in a coup, though the company has said recently it’s still moving forward.
The Tokyo Electric Power Company is delaying the restart of the Kashiwazaki Kariwa nuclear power station in western Japan after an alarm malfunction. The alarm system for the control rods that keep the fission reaction in check failed to sound during a test operation on Tuesday, Tepco said. The world’s largest nuclear plant had been scheduled to restart one of its seven reactors on Tuesday. Fuel loading for the reactor, known as Unit 6, was completed in June. It’s unclear when the restart will now take place.
The delay marks a setback for Prime Minister Sanae Takaichi, who has made restarting the reactors idled after the 2011 Fukushima disaster and expanding the nuclear industry a top priority, as I told you in October. But as I wrote last month in an exclusive about Japan’s would-be national small modular reactor champion, the country has a number of potential avenues to regain its nuclear prowess beyond just reviving its existing fleet.
As a fourth-generation New Yorker, I’m qualified to say something controversial: I love, and often even prefer, Montreal-style bagels. They’re smaller, more efficient, and don’t deliver the same carbohydrate bomb to my gut. Now the best-known Montreal-style bagel place in the five boroughs has found a way to use the energy needed to make their hand-rolled, wood-fired bagels more efficiently, too. Black Seed Bagels’ catering kitchen in northern Brooklyn is now part of a battery pilot program run by David Energy, a New York-based retail energy provider. The startup supplied suitcase-sized batteries for free last August, allowing Black Seed to disconnect from ConEdison’s grid during hours when electricity rates are particularly high. “We’re in the game of nickels and dimes,” Noah Bernamoff, Black Seed’s co-owner, told Canary Media. “So we’re always happy to save the money.” Wise words.