UK banks could be tested for climate change resilience from next year, according to Bank of England governor Mark Carney December 17, 2018 UK bank stress tests could include resilience to the impact of climate change from next year, Bank of England governor Mark Carney said. Carney said he was weighing up whether the risks and opportunities of climate change should included in the test, which is known as the exploratory scenario, the Financial Times reported. Banking stress [...]
European development bank pulls plug on funding for coal mines December 12, 2018 The European bank which funds international development around the world will stop paying for coal projects in a bid to cut carbon emissions. The European Bank for Reconstruction and Development also announced it would stop funding oil exploration projects. It will only pay for oil development in exceptional circumstances where the investment would help reduce [...]
Hyperbolic discounting explains why the French are revolting over Macron’s fuel tax December 12, 2018 Economists have long argued that an effective way of reducing carbon emissions is by increasing taxes on energy consumption. This year’s Nobel laureate, Bill Nordhaus, advocated a global carbon tax over 40 years ago. The scientific logic is impeccable. But the practical politics of it are fraught with difficulties. To say that energy taxes, and [...]
Hubris will doom the imperial reigns of Macron and Trump December 7, 2018 A political outsider who came out of nowhere to ride to victory on a populist movement he built himself, to the shock of the mainstream establishment. An expert campaigner who promised that he alone had the easy fixes to the challenges that his country had been grappling with for years. A President who now faces [...]
Profits plunge at Thames Water after extreme weather puts the pressure on pipes December 6, 2018 Thames Water’s half-year profits plunged by nearly 50 per cent today, as a combination of extreme weather and regulatory fines threw light on the mounting pressures that loom over one of Britain’s largest utility companies. The under-fire firm posted pre-tax profits of £67.7m in the six months to September, falling from £129m in the same [...]
DEBATE: In light of the ongoing court case, should ‘ethical veganism’ count as a protected belief? December 5, 2018 In light of the ongoing court case, should “ethical veganism” count as a protected belief? Beth Hale, technical director at CM Murray, says YES. It is likely that Jordi Casamitjana, the claimant in this case, will be successful in persuading the tribunal that “ethical veganism” is a protectable belief under the Equality Act 2010. Provided he can show [...]
Outsourcer Mitie to step electric vehicle operation up a gear with 717 new cars and vans to enter fleet by 2020 December 4, 2018 Outsourcer Mitie’s shares rose this morning on the announcement it is to introduce electric vehicles into its fleet of cars and vans. The facilities management and professional services company said one-fifth of its 3,587 so-called smaller vehicles would be electric by the end of 2020, a total of 717 vehicles. Mitie said it would install [...]
Oil giant Shell reveals plans to link executives’ pay to sustainability targets December 3, 2018 Oil producer Shell today proposed linking its executives’ pay to their ability to reduce the company’s greenhouse gas emissions. The Anglo-Dutch giant said it would start setting three to five-year pay-linked targets for 1,200 of the most senior members of its team. It is part of a long-term plan to meet goals in the Paris [...]
G20 members agree to reform World Trade Organisation, says EU official December 1, 2018 G20 nations have agreed to reform the World Trade Organisation (WTO) according to European officials, with a preliminary draft of the announcement expected to be released at the end of the two-day meeting today. An EU official has claimed that leaders have acknowledged the need to improve the WTO and are in support of doing so. An agreement [...]
Polman bows out of Unilever with a rich legacy, but a tarnished reputation November 29, 2018 When Paul Polman announced his plan to quit as boss of Unilever last autumn, he had plenty of reasons to think he would be leaving the consumer goods giant on a high: he had fought off a £115bn takeover attempt from Kraft Heinz earlier in the year and forged a reputation as a champion of [...]