Since 2013 more than 100 global financial institutions have made increasingly tight divestment/exclusion policies around thermal coal.
This diagram shows the average yearly amount of climate finance given by each OECD country on average in 2015 and 2016, and where that money went.
Donor countries are listed down the left-hand side of the diagram. The right-hand side shows the amounts which flowed to recipient countries or regions.
“It is therefore important to think realistically about how such transitions occur and how society and the market will manage this one. Separately – and it is a quite separate issue – we also need to ask if there is a realistic likelihood of today’s oil and gas companies transitioning as corporate entities. Do they have a future? Or will they just fail – as incumbents most often do when faced with such dramatic market change?”
Global investors managing $32tn issued a stark warning to governments at the UN climate summit on Monday, demanding urgent cuts in carbon emissions and the phasing out of all coal burning. Without these, the world faces a financial crash several times worse than the 2008 crisis, they said.
Major financial institutions have joined together in the U.S. Alliance for Sustainable Finance under Bloomberg’s leadership.
Paul Fisher was recently interviewed by the Financial Times as part of an article on sustainable finance. The article provides a good summery of the activities in this area as well as some useful links.
“Multiple cities will be uninhabitable and migration patterns will be far beyond those levels already creating pressure worldwide.”
Congratulations to Sanjeev Gupta!
Rapid emissions turnaround needed to keep global warming at less than 2C, report suggests.
Summaries from each of the conference speakers are now available, including photos and presentations. Congratulations to the 2018 Leadership Award winners, see here for details.
According to the report, human-caused climate change has heated and dried out the American Southwest, leading to deaths, enormous costs, and lingering health consequences.
Nice work, humans. We have conspired to foul our own nest so egregiously that our extinction is now all but assured. All that left to do is rearrange the deck chairs on the Titanic as we slowly but surely extinguish any chance that we have of survival.
The Australian Prudential Regulation Authority has advised that deputy chairman John Lonsdale will head an advisory panel that will review its enforcement strategy. The members of the advisory panel are former judge Robert Austin, the ACCC’s Sarah Court and University of New South Wales professor Dimity Kingsford Smith. The review has been commissioned in response to criticism of APRA in the financial services royal commission’s interim report, which noted the regulator’s reluctance to prosecute banks and insurers for misconduct.
The Trump administration is being sued by 21 children on behalf of themselves and future generations.
One of Australia’s biggest financial institutions, the Commonwealth Bank of Australia has become the first Australian-owned major corporate to pledge to go 100 per cent renewables, joining another 154 international companies that have signed up to the global RE100 program.
‘By the time the science is proven, it will be too late to act,’ chief Peter Coleman says