COP26: All UK electricity to come from renewable sources by 2035 October 4, 2021 All of the UK’s electricity is set to come from renewable sources by 2035, prime minister Boris Johnson is expected to announce ahead of the country’s hosting of COP26. The push for cleaner energy will see the Conservative party increase investments in renewable and nuclear energy, according to The Times. It comes amid an energy [...]
Fusion energy: UK looks to leverage and commercialise the low carbon power October 1, 2021 The government has set out plan of action to bring more fusion power and technology to the country today, which could help decarbonise the UK’s energy sector. The UK is looking to muscling in on a leadership position in the development of fusion energy globally, as the power does not have to rely on wind [...]
Current carbon pricing is too low to stop climate change, new research says September 30, 2021 Carbon pricing is currently too low to stop climate change, according to new research published ahead of COP26 – when carbon market rules are scheduled to be agreed. In its latest whitepaper, which seeks to make carbon pricing more effective, the Climate Crisis Advisory Group (CCAG) estimated that today’s policy targets would likely lead to [...]
Exclusive: Many finance leaders in the City have zero faith in Net Zero targets September 30, 2021 With COP26 just around the corner, there’s a pessimistic outlook among many UK financial services business leaders about hitting targets, with more than one in four believing the sector won’t hit Net Zero by 2050. Over a third of this group say there is simply insufficient global support to make the UK financial service sector [...]
COP26: Standardising climate reporting could slash pension scheme cash burden September 30, 2021 Standardising climate-related reporting could “considerably” slash the cash burden for pension schemes, the Work and Pensions Committee has said. Calling on the UK to up its leadership on fossil fuel-investing pension funds ahead of COP26, the Committee has urged the Government to encourage other countries to make their local pension schemes disclose their climate-related financial [...]
Exclusive: 300 UK financiers provide £40bn in deforestation funds, claims WWF September 29, 2021 Around 300 City and UK-based financiers are directly providing £40bn in funding to companies that threaten Brazilian and Indonesian rainforests, according to nature charity WWF. The funding is provided through both investments and loans, the organisation told City A.M. in an email. Most of the companies are involved in the production of beef, palm oil, [...]
Airbnb appeals to Glaswegians to host COP26 attendees September 29, 2021 Glaswegians have been offered a £100 incentive by Airbnb to open up their homes for the COP26. The climate change event will draw in 30,000 attendees from all over the world – but rental platform Airbnb says the city’s hotels only cater for half those people. It cited the Glasgow Convention Bureau as saying hotel [...]
UK leads the way in climate transparency ahead of COP26, says new report September 28, 2021 The UK is leading the way in climate transparency, according to new research, as over 70 per cent of energy and chemicals companies say they have publicly stated their climate impact targets. The research, by ICIS, found that the UK had the highest levels of transparency in comparison with the rest of Europe – with [...]
BHP braces for backlash by investors over climate plan September 28, 2021 Shareholders in mining giant BHP have been advised to vote against the company’s carbon emission plans, ahead of its annual general meeting in London next month, according to reports. In a report shared with investors Glass Lewis, the influential proxy adviser, questioned the scientific basis of BHP’s Climate Transition Action Plan and said there was [...]
Cop26 sponsor NatWest named and shamed for links to Arctic oil and gas drillers September 27, 2021 NatWest is under scrutiny from campaigners due to it financing fossil fuel developers while sponsoring the Cop26 climate summit NatWest is the banking sponsor of the Glasgow conference — where countries will pledge to reduce carbon emissions as part of a wideranging global effort — but was still providing underwriting and loans to energy companies [...]