Weave support for minorities into the fabric of the City to empower them to thrive May 10, 2021 DiverCity® Podcast · Representation and Recognition of the ‘Model Minority’ The #StopAsianHate campaign sprung up in response to a sharp increase in the number of assaults, both physical and verbal, on Asian communities globally over the past year. In the US, former President Donald Trump’s rhetoric around China – he even referred to Covid-19 as [...]
Climate change brews trouble for Brits beloved tea May 10, 2021 The British cup of tea is at risk, a new report has warned, as climate change prompts extreme weather and rising temperatures in tea-growing regions. The UK and Ireland drink more tea per person than any other country in the world. Meanwhile, the world’s biggest tea exporter, Kenya, which produces half of the black tea [...]
BNP Paribas urges investors to pressure politicians on climate rules May 10, 2021 Bank BNP Paribas has begun urging investors to press politicians to commit to the Paris Agreement with policy and make rules for net-zero targets. Investors are failing to chase strong climate policies, global head of sustainability at BNP Paribas Asset Management, Jane Ambachtsheer, told Bloomberg. Instead of chasing policies, however, investors should start chasing politicians [...]
Government raised £40.8bn in green taxes in 2020, just six per cent of total May 10, 2021 The government raised £40.8bn through ‘green taxes’ last year, just six per cent of the £633bn raised through taxes overall, according to law firm Pinsent Masons. Over the last decade, the money raked in by green taxes has only risen 19 per cent which has clashed with the 53 per cent surge in taxes as [...]
Standard Chartered to face shareholder action over climate change policies May 10, 2021 Shareholders are set to eye Standard Chartered bank’s climate policies, according to environmental organisation Market Forces, revealing it has pumped $31.4bn into fossil fuels since the Paris Agreement. The scrutiny comes as the bank confirmed its participation in a $400m five year loan for global coal giant Adaro Indonesia, as part of a syndicate of [...]
New City of London Corporation Finance Committee Chairman elected May 6, 2021 Jamie Ingham Clark has today [6 May] been elected as the new Chairman of the City of London Corporation’s Finance Committee. Jamie, who previously served as Deputy Chairman, will lead the Committee responsible for stewardship of the City Corporation’s funds. The Committee aims to ensure the organisation achieves value for money in all its activities and maintains a [...]
FTSE ends day with slump as Wall Street’s Nasdaq plunges nearly three per cent May 4, 2021 The FTSE 100 slipped back below the 7,000 point mark by the market close, despite a strong start to the week’s trading after the Bank Holiday weekend. The blue-chip FTSE 100 index fell 0.67 per cent by the end of the day, with banking stocks, including HSBC Holdings, Barclays and Standard Chartered posing the biggest drag on [...]
UK banks provided over $50bn in financing for coal-exposed firms from 2018 to 2020 May 4, 2021 The UK’s biggest banks provided $56bn worth of financing for firms involved in the coal industry between 2018 and 2020, new research today has found. Of the top five banks exposed to the sector, Barclays provided by far the most financing to firms on the Global Coal Exit list, with $27bn. HSBC and Standard Chartered [...]
Recalibrating the corporate ecosystem May 4, 2021 Atapestry of reform is needed to recalibrate the corporate ecosystem. It’s not just about audit reform. It is time to recalibrate the corporate ecosystem. Prior tothe publication of the BEIS consultation, ICAS issued a paper exploring how various recommendations from the Brydon, Kingman and CMA reviews might be combined to deliver a tapestry of reform [...]
Highest paying companies in the UK revealed April 30, 2021 Banking, consulting and technology firms dominated the list of the UK’s highest paying companies, according to the latest data from Glassdoor. City of London-based Man Group has topped the rankings as the best paying financial firm in the UK, with median base salary of £85,312. Total compensation – meaning salary and bonus – at active [...]