🌍 Shell writes off billions

Plus: What’s happening in Shanghai? [Quartz]( Sponsored by Good morning, Quartz readers! Was this newsletter forwarded to you? [Sign up here](. Forward to the friend [who is always on Pinterest](. Here’s what you need to know Shell’s exit from Russia will cost billions. The energy giant says it will have to write off [up to $5 billion in assets]( following its withdrawal a month ago. Big Oil denied war profiteering to a US congressional committee. But if there’s questionable behavior by these companies anywhere, it’s on their balance sheets, [not at the pump](. The US sanctioned Vladimir Putin’s daughters. [A new list]( of restricted individuals and entities also includes the families of other high-ranking Russian officials. El Salvador’s president pulled out of the Miami bitcoin conference. [Nayib Bukele]( is a high-profile crypto advocate, and made bitcoin legal tender last year, but withdrew from the event over problems with gang violence at home. The UK is turning back to nuclear power. [Eight new reactors are planned,]( alongside a much greater emphasis on renewables, but activists are unhappy with the lack of policy guidance on home insulation. Ketanji Brown Jackson is set to be confirmed as a US Supreme Court justice. The Senate is today [expected to finally approve]( her appointment as a replacement for Stephen Breyer, who retires in the summer. Sponsor content by BOFA SECURITIES What’s the price of a cleaner planet? Achieving Net Zero could cost $150tn over 30 years. At the same time, $5tn of annual investments, $2tn of R&D, and 42mn green economy jobs could generate an unprecedented global opportunity.* [Read the report.]( *Source: IEA[Advertisement] What to watch for [World Health Organization Director-General Tedros Adhanom Ghebreyesus adjusts his face mask while seated in front of a banner with the WHO logo.] Fabrice Coffrini/AFP via Getty Images It’s [World Health Day](, and our global health is… not great. The covid-19 pandemic continues at two speeds: the rich world starting its fourth round of vaccination while much of the global south has far from sufficient immunization levels. In turn, this is catalyzing the emergence of new variants, [prolonging the crisis](. But this year, the World Health Organization (WHO) is putting its focus beyond the current emergency and onto the more fundamental issue: protecting the planet as a way to protect our health. WHO director-general Dr. Tedros Adhanom Ghebreyesus and the US health secretary will meet to discuss a pretty extensive list of everything we ought to fix ASAP: 🥵 Rising temperatures 🌊 Floods ⛈️ Extreme rainfall 🏭 Air pollution 🌳 Ecosystem degradation 🚬 Tobacco production and consumption What’s happening in Shanghai? [Three people in protective gear walk through an empty street lined with yellow bicycles.] Hector Retamal / Getty Images What was supposed to be a short covid lockdown in Shanghai has [become indefinite](. The financial hub saw more than 17,000 new cases on Tuesday, surpassing the highest daily tally in Wuhan [set in the pandemic’s early days](. Residents in Shanghai are at their wits end. Chaotic access to basic necessities and poor coordination between government agencies are fraying people’s nerves. More so than in previous waves, the current lockdown has shown that China doesn’t have a roadmap out of its zero-covid policy. Need to catch up on what’s happening in Shanghai and with China’s strategy? We’ve got a reading list for you: - [Why China won’t give up on zero-covid in 2022]( - [Sleep at work is the new work from home in China’s financial hub]( - [China has abandoned its foreign students over covid zero]( - [China discovers a new omicron subvariant]( - [China’s internet has coined a term to mock covid-zero fanatics]( The neighbor Nextdoor Nextdoor wants to be the “kinder” social media app (really, its stock ticker is $KIND). But instead of bringing neighborliness to the internet, Nextdoor has brought the neighborhood—and all its biases and opinions—online. ✦ Members got an exclusive look [into Nextdoor’s growth]( and what it means for inclusion. Support journalism that seeks to make business better by [subscribing today](. Quartz announcement No need to pick a favorite. We love all of our Quartz Obsession podcast episodes equally. Season 2 may be finished, but it’s not too late for you to catch up before our third season drops! Sponsored by Alumni Ventures [Listen now]( Handpicked Quartz ⛽ [Europe’s thirst for gas could shock energy prices in Asia]( 🏬 [US businesses have more physical locations now than pre-pandemic]( ✏️ [Why MIT reinstating SAT requirements is good for African students]( 📈 [Russia’s inflation rate has hit 200%, a Biden economic adviser says]( 📍[Pinterest’s climate misinformation ban goes beyond other social platforms]( 🏠[Mortgage interest rates hit 5% for the first time in a decade. That’s great news.]( Sponsor content by BOFA SECURITIES What’s the price of a cleaner planet? Achieving Net Zero could cost $150tn over 30 years. At the same time, $5tn of annual investments, $2tn of R&D, and 42mn green economy jobs could generate an unprecedented global opportunity.* [Read the report.]( *Source: IEA[Advertisement] Surprising discoveries Burger King faced a lawsuit alleging that its Whoppers are too small. A class action suit accuses the company of [deceptively making its burgers]( look “35% larger” in ads than they are in real life. The UK is looking for an Antarctic postmaster and penguin counter. Port Lockroy base, on an island west of Antarctica, is [now accepting applications](. An aging Japanese island opened its first restaurant. Shimaura has a shrinking population of 850 people—but they hope a local hangout will help [revitalize the community](. Miami crypto enthusiasts unveiled a bionic bull statue. The parody of Wall Street’s iconic charging bovine [has laser eyes](. Google banned dozens of apps harboring secret spy software. The Panamanian company that wrote the code has [ties to US national security agencies](. SPREAD THE WORD Over 500k readers and counting. You already know why half a million people read the Daily Brief, so why not spread the word? [Share the Daily Brief today]( and get rewarded. Our best wishes for a productive day. Send any news, comments, full-sized burgers, and Antarctic job applications to hi@qz.com. Get the most out of Quartz by [downloading our iOS app]( and [becoming a member](. Today’s Daily Brief was brought to you by Hasit Shah, Annalisa Merelli, Jane Li, Nicolás Rivero, and Morgan Haefner. [facebook]( [twitter]( [external-link]( Enjoying Quartz Daily Brief? Forward it to a friend! They can [click here]( to sign up. If you’re looking to unsubscribe, [click here](. 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