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But its true: Canada and the world made enormous strides addressing climatechange and building a cleaner economy. More than 40 % of electricity worldwide was non-emitting in 2023, and more than 90% of the growth in net power capacity came from wind and solar.
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.
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.
trillion in 2023 to $4.5 These represent a strandedasset risk of hundreds of billions of dollars and potentially locking in tens of billions of tonnes of carbon dioxide (CO2) emissions.” And if you don’t do all of the above, I’m sorry, but I don’t think you could attend to climatechange issues.”
Just as critically, transition plans are about embracing the booming new clean economy, creating new markets, and investing in the next batch of winners as this shift continues to accelerate exponentially— and avoiding being left behind with dwindling markets, outmoded business models, and strandedassets. This year, a record $1.8
The Intergovernmental Panel on ClimateChange ( IPCC ) has issued its final warning for the 2020s to act swiftly on climatechange. Otherwise, they will be faced with having to help strandedassets as the market for fossil fuels dies over the next 10 years.” For more details, visit: [link].
The company noted that emissions from oil products had already declined by around 9% in 2023 from the 2021 base, and said that the new target would represent a 40% reduction from 2016, including 8 percentage points caused by contracts being classified as held for trading purposes.
The announcement is meant to deliver on the 2023 subsidy phaseout deadline contained in Prime Minister Justin Trudeau’s December, 2021 mandate letters to Guilbeault and Finance Minister Chrystia Freeland. Carbon Capture Backed by Carbon Offsets?
Jessye Waxman, Senior Campaign Representative, Fossil-Free Finance Campaign, Sierra Club, says climate-related shareholder resolutions give banks necessary guardrails for transition financing. Proponents of the resolutions acknowledge the near-term need for fossil fuels.
Jose Pugas , Head of Responsible Investments and Engagement at JGP Asset Management , explains why scal ing -u p finance between the global north and south for nature-based solutions is essential to tackle climatechange and biodiversity loss. Yet the world is changing.
Change is already underway within the fossil fuel industry, as developments in the Netherlands, United States and Australia indicate. South Pole can help you navigate the existing framework as well as the new net zero guidance (FINZ) which will replace it in Q4 2023.
“If policy action has not improved, it’s very much in the balance if we can keep on working with that target,” he said, adding that the scheme’s ability to invest in climate solutions, including renewables, was being limited by economic and political factors, including permitting delays.
To better stimulate investment in climate resilience across Australia and New Zealand, the Investor Group on ClimateChange (IGCC) has developed its ‘ Road to Resilience ’ strategy. Further, only 9% have implemented a response to their physical risk exposure.
But solar and wind enjoyed record levels of generation and investment in 2022, with policy swinging behind accelerated renewables deployment in multiple markets, led by the US ; energy security and efficiency were cited as often as climatechange as reasons to end our toxic relationship with fossil fuels.
On 7 July, at the 80 th Meeting of the Marine Environment Protection Committee (MEPC 80), IMO member states endorsed the regulator’s ‘ 2023 IMO Strategy on Reduction of GHG Emissions from Ships ’. The Organisation for Economic Co-operation and Development (OECD) has estimated that maritime trade volumes will triple by 2050.
Yet, despite this uncertainty, decarbonisation is a megatrend; driven by the need to reach net zero by 2050 if the world is to avoid catastrophic climatechange. For the economy, business and investors, decarbonisation means massive change and a need to completely re-build energy infrastructure.
During a media briefing hosted by the Interfaith Center on Corporate Responsibility (ICCR), lead investors, including the New York City (NYC) Comptroller’s Office, As You Sow and Sierra Club Foundation, outlined their proposals for the upcoming 2023 proxy season.
All regulations, whether based on the ISSB standards or the EU or China’s own standards, have the Taskforce of Climate-Related Financial Disclosure (TCFD) principles inbuilt. This means companies MUST consider the financial risks of climatechange on the company’s financial situation – short, medium and long term.
Swedish government pension fund AP7 is a universal owner that manages around SEK1 trillion (US$968 billion) in AuM, with 90% of its assets invested in a diversified equities portfolio across more than 3,000 companies.
According to the International Energy Agency , the world needs to cut 90% of coal use by 2050 and phase out all unabated coal power plants by 2040 to achieve net-zero emissions and avoid the worst impacts of climatechange. These plants are expected to operate for decades and risk becoming “strandedassets” if they retire early.
The failure of rich nations to make good on their pledge to supply US100 billion annually in climate finance is long-running bone of contention for the countries most threatened by climatechange and is a key focus at COP27. . degrees of climatechange. . The deal committed US$8.5 The deal committed US$8.5
The importance of water-related risks was underlined last month with the commitments to a more ambitious Water Action Agenda signed last month at the UN’s first dedicated water summit in 50 years, part of a focus throughout 2023 on getting the UN Sustainable Development Goals back on track.
As reported by Newsweek , an NCSE survey revealed that teachers offer their students very little climate education and when they do, it is often inaccurate (60% of teachers are unaware of the scientific consensus on climatechange). trillion climate-focused infrastructure bill. Petro-pedagogy targeting kids.
Preparing for the storm: The role of UK business and government in improving UK resilience to climatechange in the UK’ explores how leading UK businesses are already increasing community resilience through climate adaptation strategies and action. billion climate finance already promised by Biden each year, by 2024.
Over the course of 2022-2023, the TPT will be making recommendations, preparing detailed sectoral templates, creating guidance on third-party verification, and producing a pathway for future work on transition plans for consultation. . “No No two companies’ transition journeys are the same, even if they’re in the same sector.
But a faster reduction in gas-fired generation would help reduce demand for a fossil fuel whose primary component, methane, is about 84 times more potent a greenhouse gas over the 20-year span when humanity will be scrambling to get climatechange under control.
That includes the We Mean Business Coalition , where she is CEO, and the Women Leading on Climate network , an international coalition she co-founded and launched at Climate Week NYC in 2024. What is the Women Leading on Climate initiative? Because she started this initiative Women Leading on Climate in Glasgow.
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