UK banks reduce fossil fuel financing 31 per cent last year – but will the trend continue? April 13, 2023 Most of the UK’s largest banks cut back on fossil fuel financing last year but activists argue the sector needs to make firmer commitments to ensure it meets its net zero commitments. According to an annual report from the Rainforest Action Network, the FTSE 100’s five banking giants lent $35.7bn to fossil fuel companies in [...]
More chance of being struck by lightning: Ofwat reveals just one fine for sewage leaks in nearly 30 years April 10, 2023 Ofwat has issued just one single fine to suppliers for sewage spills since the current rules were introduced in 1994 - nearly 30 years ago.
Sewage scandal: Ofwat demands water companies get their house in order April 4, 2023 Ofwat wants to fast-track £1.6bn of investment in the water industry, and require water companies to speed up delivery of new schemes.
Water suppliers will face unlimited fines for sewage dumping, Coffey confirms April 3, 2023 Water suppliers are set to face unlimited fines for sewage dumping in the government's latest action plan to crack down on poor performance.
Ofwat clampdown on water exec bonus pay: Brits will NOT foot bill if performance targets missed March 30, 2023 Customers will not have to fund bonus payments if suppliers fail customer and environmental performance targets.
Global green transition needs an extra $2.5tn a year to reach net zero by 2050, study says March 22, 2023 Investment in the global green transition needs an rise by an extra $2.5tn a year in order to reach net zero by 2050, a new study has suggested. Capital investment will need to average $3.5tn a year between now and 2050 to reach net zero, according to a new report from international think tank The [...]
Window of opportunity to preserve liveable climate rapidly closing, UN warns March 20, 2023 There is a rapidly closing window of opportunity to lower greenhouse gas emissions and secure a safe and liveable future, says the UN.
Ofwat clamps down on dividend payments for water suppliers who won’t clean up their act March 20, 2023 Ofwat will be able to stop the payment of dividends if they risk the financial resilience of water companies.
Environment Agency: Water firms fined TOO MUCH for sewage leaks March 15, 2023 The Environment Agency (EA) should not be issuing penalties of £250m to water companies which dump sewage, its chairman has said.
Banks and insurers may not be ‘sufficiently capitalised’ for future climate-related losses, Bank of England reports March 13, 2023 The Bank of England said there was “uncertainty” over whether banks and insurers are “sufficiently capitalised” to deal with climate-related risks, but suggested there was not enough justification to increase their capital requirements at the moment. In a report published today, the Bank said climate risks create a challenge for regulators as the uncertainty surrounding [...]