Extinction Rebellion co-founder arrested after attacks on Canary Wharf banks May 11, 2021 Extinction Rebellion co-founder Gail Bradbrook was arrested at her home this morning for conspiracy to cause criminal damage and fraud after her group attacked banks in Canary Wharf. Activists from Extinction Rebellion smashed the window frontage of HSBC and Barclays last month. They have also targeted Lloyd’s of London, where they dumped fake coal outside [...]
SSE and Equinor to build Scotland’s first carbon capture power station May 11, 2021 Energy heavyweights SSE and Equinor have tabled plans to build Scotland’s first power station using carbon capture technology, in a step towards a low carbon future. If repurposed, the gas-fired unit at Peterhead, Aberdeenshire, could catch up to 1.5m tonnes of carbon dioxide from its emissions each year. The plans are still dependant on securing [...]
Impact investing becomes the hot topic but terminology confuses investors May 10, 2021 UK investors are prioritising responsible investment but remain confused when it comes to investment terminology, new research shows. Nearly two thirds of investors surveyed by Close Brothers Asset Management, who currently have an average of £320,000 invested, are prioritising responsible investment over ‘traditional’ returns. Interest in so-called impact investing has surged in recent years and [...]
Mining sector needs $1.7 trillion investment for decarbonisation May 10, 2021 Mining companies need to invest an eyewatering $1.7 trillion over the next 15 years to stick to Paris Agreement commitments, according to consultancy Wood Mackenzie. The decarbonisation investment figure comes as UK mining group Weir released a report today which found that the mining industry uses around 3.5 per cent of global energy. “Mining needs [...]
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 [...]
Countdown to COP26 – how 2021 is a “make or break” year in the fight against climate change May 10, 2021 | City Talk This year will be “make or break” in the fight against climate change, the UN Secretary-General Antonio Guterres has warned. The next United Nations climate summit, COP26 – or to give it its full title, the 26th Climate Change Conference of the Parties – is due to take place in Glasgow in November. Postponed from last [...]
G7 nations urged to boost climate funding for poor nations as Merkel says Germany made ‘fair contribution’ May 6, 2021 Germany and Britain are piling pressure on other G7 nations to boost the funding they provide for climate action in developing countries this decade. Ahead of this week’s Petersberg Climate Dialogue, climate and development experts and former U.N. chief Ban Ki-moon had urged Germany to commit to doubling its public climate finance by 2025 to [...]