If BlackRock is going to promote the kind of systemic shift that Fink’s 2018 letter suggested, there’s still much work to be done. In this blog, we identify several areas to which BlackRock should turn its attention next.
Singapore’s OCBC Bank is the first banking giant in Southeast Asia to rule out financing new coal-fired power plants.
In an interview with Bloomberg on Wednesday, the bank’s chief executive Samuel Tsien said the company would no longer fund new coal-fired power plants in any country.
If some companies and industries fail to adjust to this new world, they will fail to exist,” Carney and De Galhau said.
Over the years an array of climate change related films have been produced in countries all around the world. Yet very few, if any of these productions have been made within Australia. It is extremely rare to find an Australian film or documentary that focuses on the local impacts and potential solutions to global warming. HOME FRONT sets out to change this, presenting a new and compelling narrative to enliven and motivate.
Featuring interviews with former Australian defence officials, fossil fuel industry executives, national security experts, and political and business leaders, you won't see your normal bunch of environmentalists presented in this film.
More EVs were sold in Shanghai last year than in Germany, France, or the U.K.; the city of Hangzhou, smallish by Chinese standards, had higher sales than all of Japan.
Australia’s industry funds believe an update of the ESG guidelines will likely reflect the latest movement in fiduciary duty and climate risk.
In a statement on Wednesday, Westpac said the deal would deliver a 45 per cent transition to renewables by 2021 for the bank globally, as well as providing greater cost certainty on its electricity spend.
The implications for the likes of AGL, Origin, EnergyAustralia and the government-owned Snowy Hydro, are significant, and they will no doubt increase their efforts to keep the networks out of what they see as their traditional business.
The political class, as anyone who has followed its progress over the past three years can surely now see, is chaotic, unwilling and, in isolation, strategically incapable of addressing even short-term crises, let alone a vast existential predicament.
“It’s just frustrating to hear the lip service being given to ‘Oh yes, we now believe in climate change and need to do something’ when every effort to do something about it is rubbished.”
The dramatic shift by Norway's biggest party is a significant blow to the support the oil industry has enjoyed, and could signal that the Scandinavian nation is coming closer to the end of an era that made it one of the world's most affluent.
“The vision and action of Directors, CEOs and senior-level executives is fundamental to addressing the risks posed by climate change and delivering a smooth transition to a low-carbon economy. Materials, such as this new World Economic Forum report, that support Boards and Executives understand how to deliver on the TCFD can help foster a virtuous circle of adoption, where more and better information creates imperatives for others to adopt TCFD and for everyone to up their game in terms of the quality of the disclosures made. “
“the amount of renewable energy capacity committed in Australia during 2018 increased 260% on 2017, with 14.8 GW underway in 2018 compared to 5.6 GW in 2017”
With the speed and magnitude of these changes evolving rapidly, we’ve identified eight potential shifts that could further accelerate the energy transition. Although these eight shifts may not represent the most probable future, they should be considered conceivable based on the developments that can be observed today.
Download the summary here.
The Hutley legal opinion on directors’ duties and climate risk, first released in 2016, has been updated by Noel Hutley SC and Sebastian Hartford Davison to emphasise five developments in the elapsed three years which increase the need for directors to consider climate risks. Those are: regulator alignment on the impact of climate change; new reporting frameworks; investor and community pressure; advances in scientific knowledge; and increased litigation risks. The authors write:
“In our opinion, these matters elevate the standard of care that will be expected of a reasonable director. Company directors who consider climate change risks actively, disclose them properly and respond appropriately will reduce exposure to liability. But as time passes, the benchmark is rising.”
The policies investors have outlined today are critical first steps to managing the substantial risks of climate change. They will also unlock multi-billion dollar investments in economic revitalisation and zero carbon modernisation.”
Download the Media Release or the policy document Policies for a Resilient Net Zero Emissions Economy.
THIS summer has exposed yet another aspect of the fragility of our traditional electricity
grid, with several failures in local distribution networks—the so-called ‘poles and wires’. As former ATA staffer Craig Memery has reminded us in a recent article (www.bit.ly/2HSHTao), the vast majority of power failures—97.2% on Craig’s figures—happen within local networks, with just 0.24% from insufficient generation.
Once again we face a choice between propping up traditional over-built
electricity supply infrastructure or driving transformation. The first involves inefficient capital investment in power lines and equipment capacity used for just a few hours a year; the second involves innovation with confusing options and other risks.
We have yet a lot to learn about the dynamics of the way the oceans absorb global warming.