Global emissions cuts needed on ‘unprecedented scale’ to reach Paris Climate target December 18, 2020 If the world is to reach the Paris Climate Agreement’s target of a global temperature increase of no more than 1.5°C, we need to cut emissions five times more quickly than the current rate. This is according to PwC’s Net Zero Economy Index, which delivers a stark message to businesses and governments. The index shows [...]
UK to stop backing overseas oil and gas projects December 12, 2020 Boris Johnson will pledge to end direct government support for overseas fossil fuel projects at a U.N. summit on Saturday, aiming to spur similar moves by other countries to help tackle climate change, his office said. Britain, which is co-hosting the virtual summit ahead of climate negotiations in Glasgow next year, has faced accusations of [...]
EU confirms Brexit-adjusted carbon market permit removals for 2021 December 12, 2020 The European Commission confirmed late on Friday how many pollution permits will be removed from the European Union carbon market in 2021 due to the UK’s departure from the scheme at the end of this year. The carbon market is the EU’s flagship climate policy, forcing power plants, industry and airlines running intra-EU flights to [...]
EU agrees deal to cut carbon emissions 55 per cent by 2030 December 11, 2020 EU leaders have agreed to set an ambitious target of slashing greenhouse gas emissions by 55 per cent over the next decade. The figure marks a significant increase on a target to reduce emissions by 40 per cent set in September. The deal comes after more than 10 hours of intense discussions overnight, as several [...]
UK must cut emissions 78 per cent by 2035 to hit 2050 net zero target December 9, 2020 The UK must cut emissions by 78 per cent by 2035 in order to hit its target of being net zero by 2050, a new report by the government’s climate advisers has found. Such a cut effectively brings forward the country’s former target of reaching an 80 per cent reduction in emissions by 2050 by [...]
Government calls on banks to advise on first green gilt December 8, 2020 The UK government has asked banks to bid for contracts to advise on the launch of the country’s first green gilt. Chancellor Rishi Sunak unveiled plans last month to issue climate-focused securities for the first time. He said the bonds would contribute to a “new chapter for financial services” in the UK. Green government bonds [...]
Exclusive: Enviva’s CEO on biomass, climate change and pandemic challenges December 7, 2020 As climate change efforts and environmental considerations are increasingly an integral part of any mature investment strategy, investors turn more and more to providers of alternative energies. One of those solutions is biomass energy. City firms, however, are divided over whether they should pump capital into biomass as the technology of burning raw substances for energy [...]
Climate change analysis: what tools do investors need? December 7, 2020 | City Talk ‘Climate Change Analysis in the Investment Process’ is a significant report that explores the role of the financial industry in addressing the impact of climate change. Published by CFA Institute in September 2020, the report includes case studies of firms that are integrating climate-related analysis into their investment models. The report also provides six recommendations [...]
Swiss firms narrowly avoid ‘Responsible Business’ liability as vote divides nation November 29, 2020 By Brenna Hughes Neghaiwi ZURICH (Reuters) – Swiss firms narrowly avoided facing greater liability for human rights and environmental abuses on Sunday after a national vote rejected the proposal due to regional differences despite it winning majority popular support. In a divisive referendum, 50.7% of Swiss voters supported proposals by the Responsible Business Initiative (RBI) [...]
Can the government hit the targets in its 10 point climate plan? November 18, 2020 Last night Boris Johnson unveiled his much-touted 10 point plan to drive a “green industrial revolution” in the UK, creating 250,000 jobs in the process. Featuring commitments in sectors such as heating, wind power, nuclear energy, hydrogen and electric vehicles, it has been largely positively received by industry. However, some are concerned that some areas [...]