The Mayors of New York City and London have introduced climate budgeting, a system where they will integrate climate commitments into budget decision-making and actions to help meet their climate goals.
City Mayors Siddiq Khan of London and Eric Adams in New York penned an article in The New Statesman where they laid out the case for climate budgeting to ensure all fiscal decisions are made with a climate lens.
“Through the climate budgeting process, climate measures are proposed, evaluated and adopted in line with the budget cycle; responsibility is assigned for implementation across city government; and the city’s investments and progress against long-term climate targets, such as achieving net-zero emissions by 2050, are regularly made public,” the mayors wrote.
Describing the budgeting exercise and climate change as “moral”, the ayors said that it was essential to “consider the climate impact of every budgeting decision we make.” They are using the experience of Norwegian capital city Oslo as a template, which reduced its emissions by 30 per cent between 2009 and 2021.
Infrastructure sector faces ‘capacity crunch’– Consult Australia
As if the construction sector needed more bad news, Australia is facing a “capacity crunch” due to inconsistent timing of projects in the national infrastructure pipeline, according to a report from Consult Australia.
The Capacity Crunch report surveyed engineering, design and advisory businesses. Respondents described feeling less confident in industry conditions, with skills shortages beginning to bite for more than 50 per cent of professionals who participated. Nearly half of those involved in the water, transport and energy sectors said there was “too much work”.
“While we welcome the Australian Government’s commitment to the existing $120 billion infrastructure pipeline, our research underscores the importance of matching this investment with longer-term planning and certainty for business to support delivery,” Consult Australia chief executive Jonathan Cartledge.
“The Australian Government has promised billions to electrify our buildings, boost renewable energy generation and to transform the nation into an ‘energy superpower’. This ambitious agenda requires the skills to deliver; skills that will only come from long-term investment by businesses.”
The survey also found that hydrological engineers were in short supply following Australia’s recent east coast flooding emergency. Shortages for civil and structural engineers, GIS analysts, sustainability consultants and environmental scientists were also acute.
HDR expands civic practice with new principal architect
HDR is looking to take on more city-shaping infrastructure and urban precincts and has appointed Mark Gazy as its new civic principal to spearhead its efforts.
Having held prior roles at BVN, Tzannes, SJB and AJC, Gazy has a total of 25 years of experience in mixed-use, residential, commercial, education and urban design. He will work closely with HDR’s health, education, science and defence sectors on large scale civic projects, including precinct developments.
Social sustainability projects including build-to-rent and social and affordable housing, as well as justice and correctional health facilities, are also on the menu, according to an HDR media release.
HDR’s track record in civic projects includes town centres at Ed Square, Shell Cove and Rouse Hill, Wollongong Central, Westmead Health Precinct redevelopment and the Sydney Biomedical Accelerator at the University of Sydney.
Shareholders vote for climate resolutions
Almost a third of shareholders at US insurance giant Chubb have voted in favour of a climate resolution which called for disclosure on how it will align its underwriting and investment activities with global greenhouse gas reduction goals.
Lodged by activist shareholder group As You Sow, the resolution requests that Chubb sets 1.5°C-aligned medium and long-term GHG targets for all of its corporate activity.
Insurers like Chubb are already under pressure from the effects of climate change: this year it experienced first-quarter catastrophe losses of $458 million, compared to $333 million for the same period last year, according to As You Sow.
The activist group also filed a resolution with Warren Buffett’s Berkshire Hathaway, which 43.8 per cent of independent shareholders supported at a meeting earlier this month. The company, which has insurance, transportation and utility businesses, reported pre-tax losses of $3.4 billion from Hurricane Ian in 2022 as well as an insurance underwriting loss of $2.4 billion.
Mirvac takes investor in green office development
Mirvac has partnered with Daibiru, a Japanese real estate group to deliver its 7 Spencer Street project on the fringes of the Melbourne CBD.
Daibiru is taking a 50 per cent interest in the next-generation workplace, which comprises 46,000 square metres of floor space, over 10 terraces and is part of the Northbank precinct, which also includes the under-construction LIV Aston build-to-rent project.
The fully electrified 7 Spencer Street building will on completion target a 5 star Green Star rating, 4.5 Star NABERS Water rating, 5.5 Star NABERS Energy rating and a Gold WELL Core and Shell rating.
Jobs on offer
If you’re a talented sustainability academic in the global north, or keen on moving west of the global south, then maybe this job at Curtin University might appeal.
The leadership team there is looking for a new “inspiring, strategic, people-focused director to lead the Curtin University Sustainability Policy (CUSP) Institute.”
To find out more, send a note to tanja.glusac@curtin.edu.au.
Taronga Zoo in Sydney is also looking to fill a fun-sounding role, manager, environmental sustainability on a salary packing that could be up to nearly $143,000. In fact, the Zoo is looking or around 12 new staff, from wedding planners and event co-ordinators and guest experience co-ordinators to plumbers and vets. Interesting to see so much on offer in the event department because we notice Cushman and Wakefield is holding a big event there early in June. Maybe it’s sparked a surge in the event side of the business.