Barclays faces shareholder revolt over fossil fuel investments as AGM approaches April 29, 2021 Barclays is facing a second consecutive shareholder resolution concerning its position as Europe’s largest fossil fuel financier. Investors are increasingly drawing attention to the shareholder resolution due to be voted on at the bank’s Annual General Meeting next week, on Wednesday 5 May. A letter from investors with more than $4 trillion of funds urged [...]
Exclusive: Scrapping paper documents could boost UK trade by £25bn April 29, 2021 Digitising business and removing tens of millions of paper documents would boost small British businesses’ overseas trade by £25bn over the next four years, according to new research. A report by the International Chamber of Commerce (ICC), seen by City A.M., argued that UK firms were trapped in the “bureaucracies of the 16th century” and [...]
Ryanair to power 12.5 per cent of flights with sustainable fuels by 2030 April 29, 2021 Ryanair plans to power 12.5 per cent of its flights with sustainable aviation fuels by 2030, the airline said this morning. The announcement comes days after its rival British Airways committed to using the fuels to power 10 per cent of its flights. Group Chief Executive Michael O’Leary had said earlier this month that the [...]
London remains one of the world’s leading green finance centres April 29, 2021 London has held on to one of the top spots for green finance quality in Z/Yen’s latest index, but Western Europe’s overall dominance is starting to slip. In its Global Green Finance Index (GGFI), the City of London think tank ranked 78 financial centres across the world for their public, private and nonprofit investment in [...]
COP26: Public backs Government climate drive but some fear the cost April 28, 2021 The British public back moves to ‘go green’ but a third fear efforts will hit them in the pocket, new polling reveals today. More than half of both the public and MPs, who were also polled, believe climate change should be top of the Government’s agenda – regardless of the Covid-19 pandemic. But knowledge of [...]
Exclusive: Boris Johnson faces calls from business leaders to commit to net zero financial system April 27, 2021 A group of business leaders have written to Boris Johnson asking him to commit the UK to developing a net zero financial system ahead of this year’s COP26 climate summit. The letter, which has been seen by City A.M., said that such a move would allow the Britain to show off its global leadership before [...]
Don’t be distracted by bunny hugging, we need to plug the green skills gap to reach bold climate targets April 24, 2021 Earlier this week, Boris Johnson announced a bold new target to slash the UK’s emissions by 78 per cent compared to 1990 levels by 2035. The government now needs show how it will turn this ambition into a reality, and doing so will require overcoming a serious challenge to this agenda: the green skills gap. The PM’s [...]
Extinction Rebellion activists block headquarters of Lloyd’s of London in the City April 23, 2021 Climate activists are protesting outside the office of Lloyd’s of London in the City this morning, dumping fake coal outside in front of the building as part of a campaign against insuring fossil fuel mining activities. Activists from the Extinction Rebellion group are holding up banners with slogans such as “Climate Criminals” after they dumped [...]
Biden pledges to cut emissions by 52 per cent by 2030 April 22, 2021 US President Joe Biden administration has today pledged to slash US greenhouse gas emissions by 50 per cent – 52 per cent from 2005 levels by 2030. The new target was unveiled ahead of a two-day climate summit featuring the world’s biggest economies. Before the summit began, Biden tweeted: “No nation can solve this crisis on its [...]
WPP makes net zero pledge for entire $60bn supply chain April 22, 2021 WPP has pledged to reach net zero carbon emissions across its entire supply chain by the end of the decade in what it said was the most ambitious approach in the ad industry. The holding group said its own operations will be net zero by 2025, with all electricity to be renewably-sourced. Across its supply [...]