£30bn pension pool slams financial system as ‘not fit for purpose’ on climate change January 27, 2020 A £30bn pool of pension funds is threatening to fire investment managers that fail to reduce their exposure to climate risk, condemning the financial system as “not fit for purpose” for addressing the issue. In a combative new policy launched today, the Brunel Pension Partnership is demanding companies in its portfolio take steps to align [...]
Carbon dioxide levels set for biggest rise since records began January 24, 2020 The Met Office has said that levels of carbon dioxide in the atmosphere are this year set to show one of their largest annual rises since measurements began. The ongoing bushfires in Australia, which have now scorched an area roughly the one third of the size of Germany, are in part responsible for this rise. [...]
Tesco ditches plastic wrap on multipack tins January 24, 2020 Tesco is set to remove all plastic wrapping from its multipack tins in a bid to cut down on waste, a step it says will remove 350 tonnes of plastic per year from the environment. The supermarket giant has teamed up with brands including Heinz and Green giant to replace single-use plastic wrap on multipacks [...]
Build it better: How the office of the future can help save the planet January 23, 2020 Climate change is the headline topic in Davos this week, where business leaders and politicians have gathered for the World Economic Forum. Activist Greta Thunberg told the gathered elite that their inaction over the climate was “fuelling the flames by the hour”. While many may dismiss her warnings (President Donald Trump earlier urged leaders to [...]
Citizens Advice warns government over ability to achieve net zero by 2050 January 23, 2020 Charity network Citizens Advice has issued a warning to the government saying that it risks fatally undermining the country’s ability to achieve net zero by 2050 unless it puts the public at the heart of the process. According to a new report from the charity, which is the UK’s official consumer watchdog for energy, 82 [...]
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 [...]