Global emissions surge back in December despite record annual fall March 2, 2021 Global carbon emissions have already returned to pre-Covid levels due to surge in energy usage driven by the global economic recovery to the crisis. According to data from the International Energy Agency (IEA), emissions were 2 per cent, or 60m tonnes, higher in December than they were in the same month a year earlier. That [...]
Barclays faces fresh shareholder showdown over fossil fuels ahead of COP26 March 2, 2021 Barclays faces a second consecutive year of shareholder pressure on its position as Europe’s largest fossil fuel financier, after a shareholder resolution has been filed for the bank’s upcoming AGM on 5 May. The resolution calls for financing and exposure to coal, oil and gas to fall in line with the Paris Agreement’s climate goals. [...]
Carbon capture: Here’s what you need to know about the Elon Musk-backed tech February 27, 2021 Elon Musk is nothing if not divisive. But if there’s one thing about the world’s richest man that people tend to agree on, it’s that he’s good at picking winners. So when the Tesla and SpaceX founder announced – via tweet, naturally – that he would contribute $100m to the best carbon capture and storage [...]
Barclays faces renewed shareholder challenge on fossil fuels February 26, 2021 Barclays faces a second consecutive year of shareholder pressure on its position as Europe’s largest fossil fuel financier, after a shareholder resolution has been filed for the bank’s upcoming AGM on 5 May. The resolution calls for financing and exposure to coal, oil and gas to fall in line with the Paris Agreement’s climate goals. [...]
Exclusive: Enviva’s CEO on why COP26 may kick off the decarbonisation of heavy industries February 26, 2021 Next week’s Budget is expected to focus heavily on a ‘green recovery’, as more and more business leaders call on the government and policymakers to ramp up their efforts to drive change in the race to net zeo. With just nine months left until the UK will host the COP26 summit in Glasgow, the UK [...]
Vanguard and BlackRock uncovered as largest investors in coal industry February 25, 2021 The US mutual fund company Vanguard has been named the world’s largest institutional investor in the coal industry, with holdings of almost $86 bn, according to research carried out by Rainforest Action Network, Urgewald and 28 other NGO partners. The investor is closely followed by BlackRock, which has invested over $84bn in the coal industry [...]
Fossil fuel pollution causes one in five premature deaths: study February 9, 2021 Three British universities have discovered that fossil fuel pollution is responsible for one in five premature deaths globally, with western Europe facing some of the greatest mortality rates. The new research, published this morning, suggests the health impacts of burning coal, oil and natural gases are far higher than originally believed – with Eastern North [...]
FTSE firms ‘woefully inadequate’ at climate risk disclosure, sparking greenwashing fears February 4, 2021 The overwhelming majority of top listed companies in the UK are “woefully inadequate” at disclosing in corporate reporting how climate change will affect their business – with many potentially breaching the law. More than 90 per cent of companies’ financial accounts and associated audit reports made no reference to climate-change related factors, despite UK law [...]
UK sustainable finance bond issuance climbs to £10bn in 2020 January 25, 2021 UK sustainable finance bond issuance hit a record of £10bn in proceeds last year, raising double of what was raised in a far less turbulent 2019, Refinitiv data found. The UK ranked sixth in Europe and ninth in the world for sustainable finance issuance, achieving multiple record highs thanks to sovereigns, multilaterals and banks pushing [...]
Biden announces return to global climate accord, new curbs on U.S. oil industry January 21, 2021 By Valerie Volcovici and Trevor Hunnicutt WASHINGTON (Reuters) – President Joe Biden on Wednesday announced America’s return to the international Paris Agreement to fight climate change, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming. The announcements also included a sweeping order to review all of [...]