Getting the housing industry to net zero will cost at least £5bn, industry leaders say May 28, 2021 In the push for a low-carbon future in the housing sector, renovating the UK’s draughty homes would cost the government £5bn over the next four years and create 100,000 jobs, industry leaders have estimated. The revamps would also cut people’s energy bills and lift tax revenue, leaders have written to ministers today, the Guardian reported [...]
Legal & General Investment Management joins Shell’s shareholder rebellion May 24, 2021 One of London’s oldest fund managers, Legal & General Investment Management (LGIM), has been revealed to have joined the shareholder rebellion today against Shell’s climate strategy last week, according to reports. Saying that the energy giant’s plans lacked credibility and the ambition needed to tackle climate change, LGIM voted against Shell’s climate transition targets, the [...]
BoE eyes a climate-conscious corporate bond purchase scheme May 21, 2021 The Bank of England (BoE) has tabled plans to make its £20bn of corporate bonds better aligned with government net zero targets today. Set to begin later this year, the bank will not immediately sell off bonds issued by businesses that have high carbon emissions, such as energy and oil firms. “Divestment is a powerful [...]
Wincanton supply chains to be net zero by 2040, as profits slip May 20, 2021 Supply chain partner Wincanton is set to be net-zero by 2040, the group said today, but has been knocked slightly by a slip in profitability. With environment, social and governance (ESG) factors climbing increasingly higher on the investor agenda, the group’s shares were up 3.95 per cent to 447p per share this afternoon. The group [...]
BNP Paribas urges investors to pressure politicians on climate rules May 10, 2021 Bank BNP Paribas has begun urging investors to press politicians to commit to the Paris Agreement with policy and make rules for net-zero targets. Investors are failing to chase strong climate policies, global head of sustainability at BNP Paribas Asset Management, Jane Ambachtsheer, told Bloomberg. Instead of chasing policies, however, investors should start chasing politicians [...]
Government raised £40.8bn in green taxes in 2020, just six per cent of total May 10, 2021 The government raised £40.8bn through ‘green taxes’ last year, just six per cent of the £633bn raised through taxes overall, according to law firm Pinsent Masons. Over the last decade, the money raked in by green taxes has only risen 19 per cent which has clashed with the 53 per cent surge in taxes as [...]
WPP makes net zero pledge for entire $60bn supply chain April 22, 2021 WPP has pledged to reach net zero carbon emissions across its entire supply chain by the end of the decade in what it said was the most ambitious approach in the ad industry. The holding group said its own operations will be net zero by 2025, with all electricity to be renewably-sourced. Across its supply [...]
Central banks must play ‘clear role’ in greening financial system, argues think tank March 15, 2021 Central Banks, including the Bank of England, must have a strategy for helping countries achieve net zero emissions, according to a report published today. The report, funded by the European Climate Foundation, argues that achieving a net zero economy is the best way of minimising the risks of climate change. It calls for central banks [...]
Rise in SUVs and car usage hinders net zero targets, spending watchdog says February 26, 2021 An aversion to public transport, made worse due to the pandemic means the UK will have even further to go to reach its net zero emission targets, data from the National Audit Office (NAO) today has shown. The NAO report revealed transport is the UK’s largest contributor to carbon emissions, with cars being the primary [...]
Vodafone brings forward net zero carbon pledge to 2040 November 23, 2020 Vodafone today pledged to reduce its total global carbon emissions to net zero by 2040 — ten years earlier than originally planned. The telecoms group said it will eliminate all carbon emissions from its business activities and purchase all energy from renewable sources by 2030. It has also pledged to halve carbon emissions from joint [...]