Natural disasters knock global economy for $232bn hit in 2019 January 22, 2020 Economic losses from natural disasters topped $232bn in 2019 as the costliest decade on record comes to a close, according to a new report by insurance giant Aon. There were 409 natural disasters in 2019, 41 of which were responsible for wiping out over a billion dollars each. The two costliest events were the twin [...]
Move over, ‘Davos Man’, climate is the big issue this year January 21, 2020 It’s that time of the year again: policymakers, politicians, bankers, activists, journalists, and a swathe of cameras are descending upon the snowy peaks of Davos for the World Economic Forum (WEF). Once branded the playground for the elite, epitomised by the stereotypical champagne swashing “Davos Man”, this year the gathering ostensibly seems to be morphing [...]
Climate change major concern for UK businesses, executives say January 20, 2020 Nearly two thirds of UK chief executives believe that climate change presents a threat to their business, with 25 per cent saying they are “extremely concerned” about the issue. According to PwC’s annual global survey of chief executives, UK business leaders now consider climate change more of a threat to business than populism, terrorism, protectionism [...]
UK bond chief expresses doubts over green gilts January 20, 2020 The head of the UK’s debt management office (DMO) has questioned the case for issuing “green” government bonds, calling it a “symbolic” step unless investors were willing to pay more for the gilts. Sir Robert Stheeman told the Financial Times the issuing of “green gilts” — government debt where proceeds are spent on environmentally-sustainable projects [...]
BoE governor Mark Carney to advise PM on climate change January 16, 2020 Outgoing Bank of England governor Mark Carney is to be a key adviser to the government in the run-up to the UN climate change conference, COP26. Boris Johnson confirmed Carney in the role during a meeting at Number 10 today. The Canadian economist will help the UK government to “mobilise ambitious action from across the [...]
Climate change: Barclays shareholders call on bank to stop financing fossil fuel firms January 8, 2020 A group of Barclays shareholders have taken formal action against the bank, demanding it stops financing fossil fuel companies that are not aligned with the Paris Agreement’s climate change goals. A group of 11 institutional investors managing over £130bn of assets, coupled with over 100 individual investors have launched the shareholder resolution – thought to [...]
Prince Charles to call on business leaders to spearhead push for climate solutions January 6, 2020 Prince Charles will make a keynote speech at this year’s World Economic Forum meeting in which he will call on leading international figures to lead the transition to a sustainable economy. The Prince of Wales will use his speech to officially launch his Sustainable Markets Council. Read more: Mark Carney warns financial sector over climate [...]
UN climate change conference closes amid criticism December 15, 2019 The UN climate change summit in Madrid drew to a belated and acrimonious end today as a small number of large states resisted pressure to increase efforts to combat global warming. Activists and delegates from smaller nations were critical of countries such as the US, China, Australia, Brazil and Saudi Arabia, who were said to [...]
EU Commission unveils ‘European Green Deal’ in Brussels December 11, 2019 The president of the EU Commission today in Brussels set out the details of her long-expected “European Green Deal”, as the UN climate summit continues in Madrid. Ursula von der Leyen described the plan, which would make the EU the world’s first climate neutral continent by 2050, as Europe’s “man on the moon moment.” Read [...]
Greta Thunberg crowned Time Person of the Year 2019 December 11, 2019 Time named teenage climate activist Greta Thunberg as its person of the year today, after she inspired worldwide protests against inaction on tackling climate change. The 16-year-old Swedish climate activist, whose school strikes in 2018 sparked the so-called Fridays for future movement, is the youngest person to win the prestigious magazine title. Read more: Greta [...]