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Biden's big emissions plan: President Biden has announced a bold emissions target, but how does the US get there?

Biden's big emissions plan: President Biden has announced a bold emissions target, but how does the US get there?

This week President Biden announced an ambitious climate target for the United States: cutting the country's emissions in half by 2030, relative to 2005 levels.

Playing catch-up

The chart above explains why this is going to require a monumental effort. The green line shows what US emissions would look like if they had been cut at a steady pace (straight line) from 2005 to 2030. The actual US emissions in blue are not falling at that pace — although they are going down.

To be more specific, in order to meet this new goal, US carbon equivalent emissions would have had to fall at a pace of ~120 Mt CO2 per year since 2005. Instead they've fallen at ~60 Mt CO2. To catch up to the required pace, they need to drop at ~200 Mt CO2... which is a pretty steep acceleration.

What about the pandemic, didn't emissions fall a lot in 2020?

Indeed they did, around 10% according to estimates from the International Energy Agency. The issue is that the 2020 drop (not plotted on the chart) was likely only temporary thanks to reduced economic activity that is, already, bouncing back. Meeting Biden's target will require significantly more permanent effort, investment and change.

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Starbucks sells control of China business for $4 billion

Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

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John Wayne Airport in Orange County tops the list of North America’s favorite airports

Despite a record year of passenger numbers, flight cancellations, and delays, a new survey has revealed that flyers have been increasingly satisfied about their experiences in North American airports. 

According to this year’s North America Airport Satisfaction Study from data analysts at J.D. Power, overall passenger satisfaction scores were up 10 points (on a 1,000-point scale), largely from “improvements in food, beverage and retail and ease of travel through the airport.” The annual survey measures overall traveler satisfaction across the region’s airports in seven categories (in order of importance): ease of travel, level of trust, terminal facilities, airport staff, airport departure experience, food and retail, and airport arrival experience.

Here are the regions favorites:

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