Dawn chorus: Biden pledges to halve US emissions by 2030

America to slash emissions as Citi, UBS restrict fossil fuel loans and APRA links climate to bank, insurance and funds management director duties; NZTA eyeing fuel tax, RUCs replacement after 2030

TLDR: US President Joe Biden announced this morning at his Earth Day online climate summit that America planned to halve its climate emissions by 2030. That would be much more dramatic than New Zealand’s own plans, which Prime Minister Jacinda Ardern detailed this morning in her own speech at the summit. The speech included no new initiatives and it was revealed Waka Kotahi-NZTA has no plans to change its fuel tax system until after 2030.

Meanwhile, Citigroup and UBS overnight joined an alliance of 40 banks pledging to cut fossil fuel loans and be carbon zero by 2050. Also, in Australia, the banking, insurance and funds management industry regulator APRA (which oversees our big four banks’ parents) announced directors would be responsible for reducing loans and investments to fossil fuel emitters.

Watch out later today for a big local government review announcement from Nanaia Mahuta.

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Scoops and news breaking this morning

Stuff.co.nz Politics @NZStuffPolitics

Government looks to phase out fuel taxes, road user charges under transport review

dlvr.itGovernment looks to phase out fuel taxes, road user charges under transport reviewFuel taxes and road user charges could eventually be abolished, with a car tracking system to toll drivers one possible replacement.

Reuters @Reuters

The U.S. pledged to slash greenhouse gas emissions by 50%-52% from 2005 levels before the end of the decade #EarthDay reut.rs/3xisOsf

MSNBC @MSNBC

BREAKING: Russia orders troops to withdraw from its border with Ukraine after a massive military buildup that raised alarm from Western Europe to the US.

on.msnbc.comRussia orders troops to withdraw from Ukraine border after buildupMichael McFaul, former U.S. ambassador to Russia, talks with Rachel Maddow about the complexity and balance of the several fronts on which the Biden administration is engaging with Russia and Vladimir Putin, a marked departure from the Trump era.

Briefly in our political economy

The Dominion Post @DomPost

Lockout: Wellington bus shutdown could stretch for weeks after company locks out striking drivers

dlvr.itWellington bus shutdown could extend after NZ Bus locks out striking drivers, transport minister urges company to withdraw lockoutThe city’s 24-hour bus strike could now turn into days without services after a decision by NZ Bus to lock out its striking drivers.

Katie Scotcher @katiescotcher

The Royal Commission of Inquiry into Abuse in Care has been told to rein in its skyrocketing spending and now has to work with Treasury to get back on track. More on this after 7 on ⁦@NZMorningReport⁩.

rnz.co.nzRoyal Commission into Abuse in Care blows $56m budgetThe Royal Commission of Inquiry into Abuse in Care has asked for three emergency funding top-ups because it had blown the $56 million budget meant to last another two years.

In the global political economy

The Age @theage

The banking watchdog APRA says lenders may need to cap their exposure to customers at most risk from climate change or even consider ditching some of these clients. #climatechange

theage.com.auBanks could dump climate-change exposed clients, regulator saysThe banking watchdog APRA says lenders may need to cap their exposure to customers at most risk from climate change or even consider ditching some of these clients.

BNN Bloomberg @BNNBloomberg

Citi, UBS among 40 global banks in Carney's climate action pledge​ bnnbloomberg.ca/1.1593037

Reuters @Reuters

Biden to propose almost doubling capital gains tax rate for wealthy individuals - Bloomberg reut.rs/32Gs5TH

Reuters @Reuters

‘Beg, borrow, steal’: the fight for oxygen among New Delhi’s hospitals reut.rs/2Pg6BtW

ABC News @abcnews

'Australia is mad': Decision to snub Belt and Road goes viral on Chinese social media

abc.net.au‘Australia is mad’: Decision to snub Belt and Road goes viral on Chinese social mediaThe federal government’s decision to dump Victoria’s Belt and Road (BRI) agreement strikes a nerve in China — or at least in Beijing — with a hashtag on social media network Weibo getting more than 260 million views.

Matt Nippert @MattNippert

Hilariously and amazing that the UK - who has a full 15 months negotiating trade agreements on their own after outsourcing it for the previous 47 years (!) to the EU - would consider it a good idea to call its opponents inexperienced.

theage.com.au‘The uncomfortable chair’: Australians shocked by insulting British trade tacticsBritain’s Trade Secretary has labelled her Australian counterpart Dan Tehan “inexperienced” and planned to make him sit in an uncomfortable chair for hours of trade talks.

Ryan Mac🙃 @RMac18

Just another day at the world's largest social network! (Read our latest story: buzzfeednews.com/article/craigs…)

buzzfeednews.com“Hindsight Is 20/20”: An Internal Report Shows How Facebook Failed To Prevent A “Stop The Steal” Movement That Undermined The ElectionAn internal task force found that Facebook failed to take appropriate action against the Stop the Steal movement ahead of the Jan. 6 Capitol insurrection, and hoped the company could “do better next t

Notable other views

Stuff.co.nz Politics @NZStuffPolitics

Plan and budget both AWOL in child poverty fight

dlvr.itPlan and budget both AWOL in child poverty fightOPINION: We need Jacinda Ardern to tell us exactly how she will meet her long-term targets, how much it will cost, and where those funds will be found.

The Dominion Post @DomPost

The centralising government: First polytechs, now health. The big question is whether Labour can deliver on its promises and whether Andrew Little has the political skill to push through these big changes, writes our political editor @LukeRMalpass

stuff.co.nzGovernment’s DHB overhaul is the latest salvo in the Wellington vs local control warANALYSIS: This big health change will make or break Labour, and could do so in time for the next election.

Newsroom @NewsroomNZ

How high hopes in Wellington may be dashed in our cities, farms and homes dlvr.it/RyDSnP

Chart of the day

BNO Newsroom @BNODesk

BREAKING: 874,381 new coronavirus cases reported in 24 hours, the biggest one-day increase since the pandemic began, and 14,033 new deaths - WHO

Some fun things

Bryan MacDonald @27khv

In Khabarovsk, the largest city in Russia's Far East, spring has finally arrived & the Amur river, frozen since last November has begun to thaw. This is what happened, today.

Stephen Colbert @StephenAtHome

America finding out Chris Christie might run in 2024:

The sun rose in Wellington at 6:59 this morning. It will rise on Monday at 7:02 am.