‘We’d rather have no decision than a bad decision’: EU threatens to walk from climate talks November 19, 2022 The EU has threatened to walk away from COP27 talks based on concerns that the UN summit could backtrack on commitments. “We’d rather have no decision than a bad decision,” EU climate chief Frans Timmermans told reporters at Sharm el-Sheikh on Saturday. “All ministers . . . like myself are prepared to walk away if we do not have [...]
Companies should brace themselves for an avalanche of climate lawsuits, lawyers say May 26, 2022 London listed companies should brace themselves for an avalanche of climate related lawsuits, as shareholders and NGOs increasingly resort to litigation over climate related financial risks, lawyers have said. Investors are increasingly suing companies for breaching their fiduciary duties, over their failures to limit their exposure to climate risks, Fiona Huntriss, a partner at London [...]
HSBC suspends sustainable investing chief over climate change comments May 22, 2022 Bosses at HSBC have scrambled to distance themselves from the firm’s sustainable investing chief after he questioned the need for investors to worry about climate change and asked “who cares if Miami is six metres under water in 100 years?”
UK risks missing out on ‘growth opportunity of the century’ due to climate action delays as it falls behind in ‘net-zero race’ January 14, 2023 The UK is not in line to meet the environmental target - and has fallen behind rival economies in the "net-zero race" warns a new report.
Insurers suffer impacts of climate change as costs of natural catastrophes triple May 18, 2022 Insurers are now suffering 3.6 times more losses from natural catastrophes than they were three decades ago, according to new research, which suggests insurance companies are being hit by the impacts of climate change. Natural catastrophe events are costing insurers around the world 250 per cent more than they were 30 years ago, due to [...]
“An atlas of human suffering”: IPCC climate change update March 11, 2022 “Code red for humanity” warned headlines around the world in August last year, quoting UN Secretary-General António Guterres when the Intergovernmental Panel on Climate Change published part one of its assessment report. That concluded that warming of 1.5°C above pre-industrial levels will be reached by 2040. Part two issued this week makes even graver reading. [...]
Extinction Rebellion miss the point: the City is at the heart of climate fight April 12, 2022 They may not be everybody in the City’s cup of tea, but Extinction Rebellion certainly liven up the place. Yesterday’s protest outside the Lloyd’s building by lunchtime had a party atmosphere: the sight of a broker or two enjoying a takeaway pint in the sun listening to the group’s band was probably a Lime Street [...]
Only transparency about emissions will stop the angry shouts of climate protesters May 10, 2022 What do ABBA, top hats and champagne all have in common? For starters, they all made an appearance at HSBC’s recent annual general meeting of shareholders. A vocal group of climate activists upended the global bank’s proceedings when they descended on Southbank’s Queen Elizabeth Hall wearing top hats, sipping from champagne flutes and even breaking [...]
UN report: The world is unprepared for the impacts of climate change February 28, 2022 The world is unprepared for the impacts of climate change, a new UN report has warned, as finance for adaptation “woefully” trails finance for mitigating its worst effects. Weather and climate extremes have already begun causing economic and societal impacts through supply-chains, markets, and flows of natural resources, the report by the Intergovernmental Panel on [...]
Zooming into a climate crisis October 8, 2021 As I sat on my seventh Zoom call of the day, my mind drifted into thinking about how my working habits have changed over the last year. As we entered lockdown in 2020, there was a palpable enthusiasm as we all began to adopt new behaviours. Not ‘going to work’ became legitimised by the pandemic, [...]