Only 10 per cent of UK chief executives have financial incentives to tackle climate change December 11, 2019 Only a tenth of UK chief executives have financial incentives to promote environmentally friendly business practices, new research finds. A survey from Belgium’s Vlerick Business School says that only six per cent have bonuses with specific performance indicators related to environment. Read more: TCI threatens investors over climate change as pressure mounts on sector Less [...]
UK oil industry calls for urgent action on carbon capture development December 3, 2019 Investment in the energy sector needs to double from £20-£25bn a year today to £40-£40m if the UK is to meet its net zero challenge. Trade body Oil and Gas UK’s (OGUK) new Energy Transition Outlook report, published today, finds that development of carbon capture, use and storage technology (CCUS) is essential to meeting the [...]
UN climate change summit opens in Madrid amid last chance warnings December 2, 2019 The UN Climate Change conference is underway in Madrid, as governments come together to take the next steps in the climate change process. Against a backdrop of a year of especially severe weather, the two weeks of talks offer delegates the chance to resolve outstanding issues from the Paris accord, such as rules for carbon [...]
European parliament declares worldwide climate emergency ahead of UN summit November 28, 2019 The European parliament today declared a worldwide “climate emergency” in a non-binding vote ahead of December’s UN climate summit. Lawmakers voted in favour of the resolution with 429 for the motion, 225 against and 19 abstaining. Read more: No emissions peak in sight as greenhouse gas levels hit record high The declaration calls on the [...]
Global emissions must be cut 7.6 per cent a year to meet Paris targets November 26, 2019 Unless greenhouse gas emissions fall 7.6 per cent each year for the next decade, the world will miss its chance to limit the global temperature rise to 1.5 degrees celsius. A new report from the United Nations environment programme (Unep) finds that on current pledges, the world is heading for a 3.2 degree rise. Read [...]
No emissions peak in sight as greenhouse gas levels hit record high in 2018 November 25, 2019 The levels of greenhouse gases in the atmosphere have hit a new record high, according to new data from the World Meteorological Organisation (WMO). The WMO greenhouse gas bulletin showed that average concentrations of carbon dioxide reached 407.8 parts per million in 2018, up from 405.5 parts per million in 2017. Read more: Coal powered [...]
Green infrastructure funding ‘must be unlocked’ to meet climate change targets November 20, 2019 The global infrastructure system is in need of an “unprecedented” overhaul if governments are to meet global climate change targets, a new report has warned. Research by TheCityUK and Imperial College Business School today revealed that current investment in low-carbon infrastructure is well below the required level. Read more: Labour mulls carbon finance crackdown as [...]
India and the ESG challenge November 19, 2019 | City Talk The year 2019 is setting records and not the kind our planet would have liked. Not only will 2019 be among the hottest years recorded, but July was the hottest month in the 140 years that temperature records have been kept. Climate change is for real, and in India, our challenge is grave. Current and [...]
City firms must prove their responsible business credentials to attract top talent November 4, 2019 Brexit has been top of the agenda for many City firms, but there is so much more that they should be thinking about. When I speak to young City workers at the start of their careers, they want to know that their employers are standing up and making a positive difference. They want to work [...]
Oil giants face vast cuts to hit climate targets November 1, 2019 The world’s major oil and gas suppliers must cut combined production 35 per cent by 2040 to keep emissions within international climate targets. According to a new report released this morning from think tank Carbon Tracker, none of the majors are currently on track to be in line with the Paris agreement by 2040, despite [...]