A UK-Australia trade deal must address Canberra’s reluctance to tackle climate change June 16, 2021 The new trade deal with Australia is the first building block in the Prime Minister’s vision for a Global Britain, and sets the UK on a firm path to joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership. There has already been fierce debate over the contents of the agreement. Environmental concerns must be at [...]
Mean on green: LGIM oust four companies over ‘insufficient’ climate commitments June 15, 2021 One of London’s oldest fund managers Legal & General Investment Management has said today it will exclude four companies from some of its funds over their “insufficient” climate change response. US insurance giant AIG, the most notable of the divested companies, joins Chinese lender Industrial and Commercial Bank of China, US utility company PPL Corporation [...]
CBI boss warns world’s path is ‘way off track’ in tackling climate change June 14, 2021 The boss of the UK’s biggest business lobby group has urged today that the world is “way off track” in tackling climate change. With “no room for failure”, the Confederation of British Industry (CBI) director-general Tony Danker has outlined key corporate areas for change. Danker, who called for the government to strengthen its 10-point plan, [...]
Multinational tax dodging strategies should be as damaging as fuelling climate change June 11, 2021 The G7’s landmark deal to tackle tax avoidance and crack down on multinational companies that treat our global economy as a financial rabbit warren, might seem a welcome step in the right direction. But until businesses start seeing tax as an investment opportunity as opposed to an unwelcome bill, it’s unlikely to make much of [...]
There are trillions of dollars in sustainable finance and ethical investing, how do we tackle greenwashing? June 11, 2021 The announcement that the government is setting up a new group to help tackle “greenwashing” is good news for everyone. We know ethical investing is booming. Some models have ESG-linked funds outnumbering conventional ones by 2025, and the combination of climate-consciousness, social awareness, and a desire for purpose as well as profit bodes well for [...]
UK to offer all COP26 delegates vaccine ahead of conference June 11, 2021 Downing Street today announced the UK will offer vaccines to delegations attending the COP26 summit hosted in Glasgow later this year. In an effort to allow for the full participation of countries that will be most affected by climate change, accredited delegations who are unable to get vaccinations will be offered the jab. While it [...]
UK and US joining forces on climate action at G7 may boost trade deal chances June 9, 2021 UK and US joining forces on climate action at G7 may boost trade deal chances
Treasury sets up new expert panel to tackle ‘greenwashing’ June 9, 2021 The Treasury has today set up a new group of expert advisers in order to clamp down on “greenwashing” amid the economic transition to a net zero economy. With businesses under more pressure than ever by shareholders and activists to ensure that their operations and investments do not damage the environment, ministers have been urged [...]
Draft EU plans for a Carbon Border Adjustment Mechanism June 8, 2021 | City Talk Draft EU regulations last week provided businesses with their first opportunity to consider the Commission’s current thinking around embedding a carbon price on imported, emissions-intensive goods. The Carbon Border Adjustment Mechanism (CBAM) would introduce a charge aimed at ensuring that the cost of foreign products imported to the EU reflects their carbon content. Under the [...]
Bank of England launches climate stress test for banks and insurers June 8, 2021 The Bank of England has set out its first climate stress test for the UK’s top banks and insurers but have said the results will not currently be used to determine capital requirements. The test will scrutinise the resilience of Britain’s financial system to stresses from a shift to a net zero-carbon economy as well [...]