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Former chair of the Committee on ClimateChange Lord Deben believes the country can get back on track to net zero and regain its status as a global leader. When Glasgow hosted COP26 in 2021, bringing together 120 world leaders and more than 40,000 participants, the UK was seen as a world leader in the battle against climatechange.
This is why investors want financial regulators to tackle climate risk. Mon, 08/24/2020 - 01:15. But a later book of his — "The Fifth Risk" — best explains why we were unprepared for the current pandemic and why we need a different approach to deal with threats such as climatechange. . Ravi Varghese.
BlackRock’s sustainability activity leads its investment megafirm cohort of Vanguard, Fidelity and State Street Global Advisors, which together manage 20 percent of global publicly listed securities , an aggregate $20 trillion assets under management at the end of last year. Fink’s signal is not loud enough, especially for those in the back.
The shrivelled Rhine of 2018 became a harbinger of the devastating impact that climatechange will have on the backbone of the German economy. You’d expect a company so directly affected by climatechange to be jumping on the decarbonization bandwagon. On the face of it, it is.
A stark choice between climate stability and global devastation is the constant drumbeat from a landmark report released today by the Intergovernmental Panel on ClimateChange (IPCC). Already, “widespread and rapid changes in the atmosphere, ocean, cryosphere , and biosphere have occurred,” the report says.
DESCRIPTION: ESG in Action As climatechange intensifies, so do the physical and transition risks to industries and companies. But how do investors quantify those changes? Historically, they’ve measured a portfolio’s climate impact based on its carbon footprint or weighted average carbon intensity. By Sara Rosner.
Understanding how SOEs fit into China’s green reform agenda can help investors identify companies that are driving change—and stand to benefit from efforts to combat climatechange. Global efforts to combat climatechange won’t be successful without China. The Investment Case. Engagement Goals.
The CDP Global Water Report (2020) informs us that, when it comes to water security, “The cost of inaction is five times the cost of action.”. CDP and Planet Tracker’s High and Dry: How Water Issues Are StrandingAssets , May 2022 report recognizes that “Water risk is already strandingassets across major sectors of the global economy.”.
In 2020, a blistering analysis showed Canada leading the G20 countries in per capita public financing to oil and gas. In a release Monday, Oil Change International placed the total at $50 billion since 2019. That work was meant to conclude by 2020. billion in 2020/21 and another $1.5
The report, “Investing in Amazon Crude”, also provides four case studies focusing on the dissent, protest, and legal resistance put up by indigenous communities in the region, that have led to numerous suspensions of already existing and planned projects, including three in the Peruvian Amazon alone in January 2020.
In September 2020, five of the major global reporting organizations came together to form the Comprehensive Reporting group, signaling their intent to work towards a common framework with a single set of global reporting standards.
in 2020 amid Covid-19 lockdowns that restricted travel and economic activity, which many hoped would serve as the catalyst for further reductions year-on-year. As these perilous climate projections unfold, one might expect an inevitable upheaval in the global economy. This means that every 25 years, global warming will increase by 0.5°C
In 2020, Shell announced a commitment to achieve net zero in its operations by 2050, and in 2021, the company launched its “Powering Progress” strategy , detailing how it will achieve its target to be a net-zero energy business by 2050 across Scope 1, 2 and 3 emissions, with initiatives including investing in renewable and clean energy solutions.
Members of the IIGCC demand improved transparency on economic impacts of climatechange and associated policy action. . trillion in assets are challenging corporate audit committee chairs on their continued omission of climate risks in financial reporting ahead of the 2022 annual general meeting (AGM) season. .
Noting that the number of court cases being brought against companies on climate-related grounds has recently topped 2,000, the report says some plaintiffs are seeking to recover the costs of climatechange itself, or the expense caused by having to adapt to it. Resort to the courts. Vital role of non-execs.
These countries need affordable, reliable and clean energy to support their socio-economic development and to mitigate climatechange. “We continue to see significant investment in coal-fired power generation in countries with high rates of energy poverty.
In 2020, Eurostat reported that renewable energy made up 22.1% of the EU’s gross electricity consumption in 2020, said Eurostat, of which two thirds was produced by wind and hydropower. Increasing gas infrastructure must be avoided to avert dangerous climate impacts and strandedassets.”.
To illustrate, BlackRock, the world’s leading investment firm, with more than $7 trillion worth of assets under management, has announced that climate will play a central role in investment considerations. Fossil fuels are at high risk of becoming strandedassets and PEs have a significant stake in the energy sector.
Reasons are manifold but include better risk management, earlier identification of strandedassets, and the realisation that Paris Agreement goals are in jeopardy. It now aims to further halve its emissions by 2030 compared to 2020 levels – with the long-term goal of achieving net zero by 2040. “We
The parallels between the disclosure and risk management frameworks of the TNFD and its forerunner, the Task Force on Climate-related Financial Disclosures (TCFD), are welcomed as easing the disclosure burden, but few under-estimate the challenge ahead.
Starting at a 2% reduction in 2025 compared to 2020 intensity levels, it will increase to 6% by 2030, and eventually reach 80% in 2050. Some companies will start acting and some won’t; there’s more risk of strandedassets.” What role should investors play?
of global GDP, in 2020, and are expected to increase to 7.4% Global temperatures are set to hit record-breaking levels this summer, with regions of persistent high pressure creating heat domes across several southern US states in June, posing health risks to millions of Americans. trillion, or 6.8%
The recent Intergovernmental Panel on ClimateChange (IPCC) working group III report on climatechange mitigation identified carbon capture and storage (CCS) as an integral element in reducing GHG emissions across the energy sector. What is carbon capture and storage?
Annual clean energy investment in EMDEs needs to increase by more than seven times, from US$150 billion in 2020 to over US$1 trillion a year by 2030, according to an International Energy Agency (IEA) report. . trillion by 2030, to boost resilience and deal with the loss and damage caused by climatechange impacts. .
More electric cars were sold in 2021 in China alone than were sold in the entire world in 2020. Electric vehicles powered by low-emission electricity offer the largest decarbonisation potential for land-based transport, says the Intergovernmental Panel on ClimateChange (IPCC) in its most recent report on climatechange mitigation.
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