Easyjet ends carbon offsetting scheme as it focuses on new aircraft technology September 26, 2022 Easyjet is ending its carbon offsetting scheme at the end of the year in favour of a multi-million-pound investment into new aircraft technology under its roadmap to net-zero by 2050. As part of the plan, older planes will be replaced with 168 new Airbus NEO, which are 15 per cent more efficient and 50 per [...]
Insurers grapple with transition to a greener world August 10, 2022 Last week, a coalition of thirteen of the UK’s major insurers vowed to cut their supply chain emissions as part of the Sustainable Markets Initiative’s (SMI’s) sustainable supply chain pledge. In signing the SMI pledge, the 13 insurers and brokers – including Axa, Phoenix, Lloyd’s, and Direct Line – vowed to work with their suppliers [...]
Government’s plans for Solvency II shakeup will force insurers to hold more capital on their books, sector warns July 21, 2022 Insurers have called on the UK government to reconsider their plans to shake up the Solvency II rules that govern the country’s insurance sector, after warning the current plans could backfire. The government’s current plans to reform the European Union’s Solvency II regulations could see life insurers forced to hold more capital than they are [...]
Scenario planning on the ‘net zero’ energy transition July 19, 2022 | City Talk For investment managers, prioritising one scenario over all others can have far-reaching consequences. This is especially true when it comes to the energy transition to ‘net zero’ greenhouse gas emissions – achieving a balance between carbon emitted into the atmosphere and carbon removed from it – quite literally a hot topic at present as a [...]
How virtual twin technology is powering low carbon aviation July 14, 2022 | Sponsored The clock is ticking when it comes to preventing irreversible damage from climate change – and aerospace is one industry where a complete transformation is required to achieve Net Zero Targets. With air travel currently contributing 2.5% of global greenhouse gas (GHG) emissions, it is high time to reinvent the way we fly, and decarbonisation [...]
Energy giant Centrica turns to hundreds of former soldiers in push to greener energy June 24, 2022 Centrica is planning to hire about 500 former soldiers, sailors, and air force personnel by the end of next year as it looks to transition to Net Zero. The energy giant will recruit them into engineering roles across British Gas and the wider group as the company aims to reach Net Zero by 2045. Greg [...]
The role of tax in getting to net zero May 23, 2022 | City Talk Susan Cattell explains that tax can be a vital part of the package of measures needed to deliver net zero – but what is needed from the UK Government is a clear overarching tax strategy to support the transition. The UK’s Net Zero Strategy In 2019 the UK put into legislation a requirement to bring [...]
ICAS calls for a UK tax strategy to support the transition to net zero May 5, 2022 | City Talk ICAS has issued a briefing paper ‘The role of tax in getting to net zero’, discussing how tax can be a vital part of the package of measures needed to deliver the UK’s ambitious target for reducing emissions. The UK’s Net Zero Strategy In 2019 the UK put into legislation a requirement to bring all [...]
Allianz vows to stop insuring Arctic oil and gas projects April 29, 2022 Insurance giant Allianz has said it will stop insuring Arctic oil and gas fields by the middle of next year. The German multinational, which is one of the biggest oil and gas sector insurers in the world, vowed to stop insuring new oil and gas fields, oil powerplants, and oil pipelines in the Arctic by [...]
Standard Chartered London HQ and global offices targeted by fossil fuel protests April 19, 2022 Standard Chartered has become the latest London-headquartered bank subject to climate change protests, as activists seek to stop investments in oil and gas. The nearly 170-year-old bank is the only bank in the UK facing a shareholder-proposed resolution on climate change at its annual this year. Despite protests erupting outside the British bank’s office in [...]