Climate change brews trouble for Brits beloved tea May 10, 2021 The British cup of tea is at risk, a new report has warned, as climate change prompts extreme weather and rising temperatures in tea-growing regions. The UK and Ireland drink more tea per person than any other country in the world. Meanwhile, the world’s biggest tea exporter, Kenya, which produces half of the black tea [...]
BNP Paribas urges investors to pressure politicians on climate rules May 10, 2021 Bank BNP Paribas has begun urging investors to press politicians to commit to the Paris Agreement with policy and make rules for net-zero targets. Investors are failing to chase strong climate policies, global head of sustainability at BNP Paribas Asset Management, Jane Ambachtsheer, told Bloomberg. Instead of chasing policies, however, investors should start chasing politicians [...]
Government raised £40.8bn in green taxes in 2020, just six per cent of total May 10, 2021 The government raised £40.8bn through ‘green taxes’ last year, just six per cent of the £633bn raised through taxes overall, according to law firm Pinsent Masons. Over the last decade, the money raked in by green taxes has only risen 19 per cent which has clashed with the 53 per cent surge in taxes as [...]
Standard Chartered to face shareholder action over climate change policies May 10, 2021 Shareholders are set to eye Standard Chartered bank’s climate policies, according to environmental organisation Market Forces, revealing it has pumped $31.4bn into fossil fuels since the Paris Agreement. The scrutiny comes as the bank confirmed its participation in a $400m five year loan for global coal giant Adaro Indonesia, as part of a syndicate of [...]
Countdown to COP26 – how 2021 is a “make or break” year in the fight against climate change May 10, 2021 | City Talk This year will be “make or break” in the fight against climate change, the UN Secretary-General Antonio Guterres has warned. The next United Nations climate summit, COP26 – or to give it its full title, the 26th Climate Change Conference of the Parties – is due to take place in Glasgow in November. Postponed from last [...]
G7 nations urged to boost climate funding for poor nations as Merkel says Germany made ‘fair contribution’ May 6, 2021 Germany and Britain are piling pressure on other G7 nations to boost the funding they provide for climate action in developing countries this decade. Ahead of this week’s Petersberg Climate Dialogue, climate and development experts and former U.N. chief Ban Ki-moon had urged Germany to commit to doubling its public climate finance by 2025 to [...]
Global climate change stimulus could fuel a green investment bubble May 6, 2021 Hundreds of years of history shows us that investment bubbles are a regular feature of the financial markets. For as long as humans have been trading investments, there have been periods of time when the prices of assets have become disconnected from their underlying value. Although bubbles typically are identified after they have popped, there [...]
Does an emissions scandal await the real estate sector? May 6, 2021 | City Talk In September 2015, news broke that Volkswagen (VW) had been selling cars in the US that had a so-called “defeat device” installed in diesel engines. It could detect when they were being tested and change performance to improve results. The German carmaker admitted to cheating emissions tests and it soon became clear that this was [...]
Exclusive: Chartered IIA calls on government to extend mandatory climate reporting to smaller businesses May 5, 2021 The Chartered IIA is calling on the government to further its demands on climate reporting, including widening out mandatory climate reporting to include small and medium-sized organisations. In March the Department for Business, Energy and Industrial Strategy (BEIS) launched a consultation to require mandatory climate disclosures from large companies. Companies that would be affected by [...]
Barclays to offer climate vote to investors next year May 5, 2021 Barclays will offer investors a vote on its climate policy at next year’s investor meeting after pressure from activists and shareholders to become greener. The bank will devise extra climate targets in consultation with shareholders, its chairman Nigel Higgins told a webcast investor meeting today. Barclays set itself a target in March 2020 to reach [...]