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Are lawyers and accountants doing enough on climatechange? When it comes to the climate crisis, it’s not just what you make and sell, it’s what you do, and for whom you do it. According to the group’s scorecard , Vault 100 firms: litigated 286 cases exacerbating climatechange (versus three cases mitigating it).
Coming at the end of what is going down as the hottest year on record, it was easy to feel that the annual meetings of signatories to the 1992 UN Framework Convention on ClimateChange (UNFCCC), plus the circus of non-governmental organizations, lobbyists and negotiators that has grown up around them, have failed to deliver.
London-based HSBC Holdings says it will cease financing for the development of new oil and gas fields in order to tackle climatechange while carving out its Canadian unit from the policy change. We have limited oil sands exposure in Canada.
Campaigners maintain that stronger ambition is required given that the 2030 target the IMO is working towards — a 40 percent reduction in carbon-intensity emissions — is not aligned with the ParisAgreement in the first place. ClimateChange. Shipping & Logistics. Corporate Strategy. Sustainable Shipping. BusinessGreen.
The report , facilitated by the American Geophysical Union (AGU) and advised by a global panel of experts, says any research into large-scale interventions in Earth’s climate system must be grounded in sound ethical principles so society can make informed choices about whether to deploy them. degrees Celsius. Informed Governance.
Additionally, the Intergovernmental Panel on ClimateChange (IPCC) provides a methodology used for GHG inventories , including industrial processes, transportation, and energy use. First and foremost, the emissions data can be used to document day-to-day compliance with air emission permits and standards.
The throwaway global economy is fuelling the climate crisis with more than half a trillion tonnes of virgin materials consumed since the 2015 ParisAgreement, according to a report from impact organisation Circle Economy launched on 19 January. World leaders committed to limit climatechange to 1.5°C
The clear highlight of the conference finale was the “Loss and damage” agreement, with developed nations committing to set up a fund that would pay for climate-change related damage in poorer, vulnerable countries. It does not address the yawning gap between climate science, and our climate policies.”
Download the document. Summary: The 26th United Nations ClimateChange Conference of the Parties (COP26) will take place in Glasgow Scotland (UK) beginning on October 31, 2021.
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.
The historic provisions, arrived at after round-the-clock negotiations by climate ministers and other senior officials, appeared in the energy transition section of the 21-page document. “A Rich countries with historical responsibilities for the climate crisis, like the UK, needed to do much more.
Waste reduction and management, while not glamorous, are increasingly seen as low-hanging fruit as the world seeks climate solutions that can help keep global warming below the 1.5° Celsius target adopted in the ParisAgreement. The Overlapping Climate Impacts of Waste .
Follow the science II As noted recently in this blog , countries have been slow to submit their updated nationally determined contributions (NDCs) to the ParisAgreement. In its latest recommendations , the UKs ClimateChange Committee (CCC) does not comment directly on the adequacy of these two documents.
There also would be a pledge to ensure all financial flows are aligned with the ParisAgreement commitment to keep global warming to 1.5°C.”. In return, “countries would vow to peak global emissions before 2025 and phase down all fossil fuels—not just coal, which was spelled out in the Glasgow climate pact last year.
The policy won’t affect money that has already gone out the door or commitments that have already been signed, there is no published calculation of the future subsidies that will now be foregone, and the documents provide no cost figures for 129 non-tax measures that could be shifted as a result of this week's announcement.
This article was first published in Reuters Women have been a major force behind the most important milestones we have achieved on fighting climatechange. When you look hard at climate progress, you can see the mark of women leaders. The climate space urgently needs more of the qualities that women leadership can bring.
This approach is often seen as necessary in the context of pressing systemic risks such as climatechange. Long term resilience is also predicated on the effective management of climate, environmental, and social risks, meaning that our engagement plans have a large overlap with our equity peers.”
Where our previous post provided an overview of the CSRD and who it affects, this piece focuses on the concept of 'double materiality', one of the most important changes to the reporting process under the new regulation. We explain what this means, why it's important, and how companies can prepare for it.
So, all of these things that we’re experiencing that are problematic as a result of climatechange … are reduced if you can restore carbon to the soil,” Leeson said. The NFU considers it a threat to “treasured cultural landscapes” according to a consultation document submitted to the House of Commons Environmental Audit Committee.
MDBs have an important role to play in providing catalytic capital across a variety of projects globally to incentivise investment from the private sector. The group plans to accelerate institutional investment in EMDEs over the next three years.
This November, world leaders, climate activists, and business executives have been gathering in Sharm El-Sheikh for COP27, the UN’s annual ClimateChange Conference. As with previous years, 2022’s conference has focused on implementing climate policies – with decarbonisation a key theme. degrees Celsius. degrees Celsius.
Financial institutions should be legally required to align their activities with the goals of the ParisAgreement ahead of next year’s COP30, a senior UN figure said during London’s Climate Action Week. Under the ParisAgreement, countries must ratchet up their emissions reduction targets, known as NDCs, every five years.
London Climate Action Week marked the halfway point between the annual UN Climate Conferences – COP28 in the UAE last year, and COP29 in Azerbaijan this year. asked one panel moderator at the Climate Innovation Forum. You could argue that the energy transition has not even started,” lamented one Climate Week panellist.
The 2023 United Nations Conference of the Parties (COP28) marked the first Global Stock take to assess progress toward the ParisAgreement since its ratification in 2015 at COP21. However, the document still provides insight into the direction of the climate action landscape of the coming decade. What’s Next?
To combat climatechange and address environmental challenges, financial institutions have recognised the importance of directing funds towards sustainability. While financing climate solutions has gained traction, financing for nature remains relatively unexplored.
Legacy European airlines continue to oppose the EU’s climate legislation, with companies like Air France KML leading the laggards, and low-cost airlines such as EasyJet and Ryanair driving support for climate policy application, according to a new report. . The tax would operate transitionally over ten years from 2023. .
By: Elena Crete, Climate & Energy Manager, UN Sustainable Development Solutions Network Climatechange is one of the world’s most complicated challenges, and nations are scrambling to organize around a common goal while maintaining their own interests. But small island states and others pushed to “welcome” the findings.
As global momentum builds behind transition planning, Mark Manning, Senior Visiting Fellow at the London School of Economics, makes the case for a systemic response to the challenges of climatechange. Arguably, we need to be thinking about transition planning as a system response to the challenges of climatechange.”
Jamal Srouji, Global Climate Programme Associate at the W orld Resources Institute, says the Global Stocktake is a chance to correct course on climate. This year is a critical moment for climate action. What is the purpose of the Global Stocktake? But the Global Stocktake is meant to go far beyond an assessment.
Countries are obligated to report their greenhouse gas emissions to international bodies such as the United Nations Framework Convention on ClimateChange, but recent studies suggest that the current methods for calculating methane emissions rely on outdated and incomplete information and may not accurately represent actual emissions.
Highlighting significant risks posed by the degradation of nature to the economy and financial system, the document proposes a new policy tool, based on the UK ClimateChange Committee’s Net Zero Pathways , giving the private sector clarity and guidance on how it can contribute to national and global environmental targets. “Any
As world leaders, negotiators, and thousands of representatives from NGOs, public and private organizations, youth movements, artists, and the media head home from Glasgow at the end of COP26, many will reflect on the outcomes of this 26th United Nations climate conference—the first big milestone since the 2015 ParisAgreement came into force.
As the breadth of ESG risk exposure expands, climate litigation continues rise, according to research by the London School of Economics’ Grantham Research Institute’s (GRI). Around two-thirds (1,557) of cases have been filed since the ParisAgreement was established in 2015.
The investor-led project is working to develop a free, publicly available, independent tool that assesses countries on climatechange and aims to improve investors’ understanding of the climate risks in their sovereign debt portfolios.
The development of the standard was led by the Investor Group on ClimateChange (IGCC) and IIGCC following an initial investor and company roundtable in November 2021 and took 18 months to develop, including a final consultation in May this year.
Given the mixed track record of the finance sector in aligning with the goals of the ParisAgreement, its response to the increased pressure is seen as key test of major institutions’ ability to transition long-established business models. . At the same time, frameworks are being developed to provide detailed guidance to investors.
From jobs to climatechange to reducing health disparities, our needs are many and investments to meet those needs will require mobilizing significant resources. Major efforts are also needed to mitigate climatechange and biodiversity loss (SDGs 12–15) in the US and abroad. We must do better.
A new paper from an independent group of climate experts emphasises “the critical importance of a comprehensive financial and regulatory ecosystem incentivising emissions reduction and removal, supported by a properly functioning carbon price.” An alternative approach to carbon pricing.
In Interlaken, Switzerland, governments conducted the painstaking business of approving the key messages for policymakers of the latest Synthesis Report from the Intergovernmental Panel on ClimateChange (IPCC), aka the world’s foremost climate scientists. If all goes to plan, the key messages will be released Monday.
Further, a recent report by the UN Environment Programme (UNEP) and the Sabin Center for ClimateChange Law at Columbia University, showed that climate litigation is becoming an integral part of securing climate action and justice.
As the deadly toll of climatechange is increasingly felt around the world, it’s more important than ever that we walk the walk. . Making good on a promise – Just as it’s important to reduce global CO2 levels to mitigate the effects of climatechange, investors, companies and policymakers need to be paying attention to methane, too.
To be included in the taxonomy, gas-fired power or heat assets must have lifecycle emissions below 100 grams of CO2 per kilowatt hour or “meet a number of stringent conditions and obtain a construction permit by 2030”, according to the Commission’s Q&A document. Members of the Joint ECON/ENVI Committee previously objected to the DA. .
Sachs and operates through offices in New York, Paris, and Kuala Lumpur. SDSN’s ongoing analysis under the FELD Action Tracker and Catalyst, including the review of updated NDCs and other key documents submitted by state parties before COP28, and of relevant global initiatives, and other information related to FELD products; 4.
“Investors have called for increased engagement with Asian corporates on the adoption of net zero transition strategies,” said Rebecca Mikula-Wright, CEO of Asia Investor Group on ClimateChange (AIGCC).
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