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Floods threaten Europe as searing heat gives way to storms
Climate change is increasing the frequency and intensity of extreme...
Google to expand AI initiatives in India, targeting language barriers, agricultural efficiency
Abhishek Bapna, Director of Product Management at Google DeepMind,...
Biden’s $3.5 trillion climate change plan to eliminate fossil fuel emissions from U.S
Included in the massive legislation is a nationwide clean-electricity program that is intended to eliminate climate-damaging fossil fuel emissions from U.S. power plants by 2035 catching up to requirements already set in some states.
The proposal would spend billions to install 500,000 electric vehicle charging stations and upgrade the power grid to make it more resilient during hurricanes and other extreme weather events that are increasing and intensifying as a result of climate change.
Investors with $4 trln assets aim to tackle Asian firms on climate change goals
The six investors include BMO Global Asset Management EMEA, Fidelity International, Dutch pension fund PGGM, Britain-based Local Authority Pension Fund Forum, Aviva Investors and Legal & General Investment Management.
Initial engagement will focus on carbon risk and coal at banks and coal-exposed power companies, the group of investors, facilitated by Singapore-based advisor Asia Research & Engagement (ARE), said in a statement.
The move comes as investors become more active in the field of environmental, social and corporate (ESG) governance, helping to shape firms’ climate commitments to better manage that risk for their clients. ESG-related steps they have taken include backing activist shareholder resolutions and voting on board members and remuneration.
UN development arm launches disaster insurance programme
The facility will also have funding from other sources, including the UNDP itself, a spokesperson said. The UNDP is aiming to help create insurance protection from socio-economic, climate and health-related disasters in more than 50 developing countries by 2025, it said.
“Insurance and risk-finance products, tools and services can secure our critical infrastructure, protect our agriculture and businesses, and preserve critical ecosystems that make life on earth possible,” said UNDP Administrator Achim Steiner.
AXA XL appoints Head of Climate to accelerate sustainability efforts
“As a signatory of the UN Principles for Sustainable Insurance, AXA XL is committed to taking a leading role in working with our clients and business partners to raise awareness of climate issues, manage risk and develop solutions to create a more sustainable society.Andy’s expertise and knowledge of our business will allow us to further advance our understanding and response to climate change by ensuring we continue to understand how the climate is evolving and how this impacts our overall strategy. Andy is charged with embedding our climate strategy across AXA XL from underwriting to claims, to risk and operations ensuring that we meet our climate leadership ambitions,” said Scott Gunter, CEO of AXA XL
Centre could extend Fame II incentive scheme for purchase of personal electric cars, e-cycles: Report
At present the Fame II scheme benefits covers only electric two-wheelers, three wheelers, four-wheeled passenger vehicles and goods carrying vehicles. Under it, vehicles are provided with demand incentives that help to bring down its purchase price. FAME 2 had increased the benefit offered from Rs 10,000 per kWh to Rs 15,000 per kWh. That`s a hike of 50 per cent.
Vanuatu to push international court for climate change opinion
Vanuatu, with a population of some 280,000 people spread across roughly 80 islands, is among more than a dozen Pacific island nations facing rising sea levels and more regular storms that can wipe out much of their economies.
“In response to the catastrophic levels of climate change loss and damage faced by this small Pacific nation, Vanuatu recognises that current levels of action and support for vulnerable developing countries within multilateral mechanisms are insufficient,” the government said in a statement on Saturday.
US, India launch task forces on Hydrogen, Biofuels to expand clean energy technologies use
Apart from it, the US invited India to participate in the Agriculture Innovation Mission for Climate (AIM for Climate), which will be launched at COP26 in November. AIM for Climate has the goal of increasing and accelerating global innovation on agriculture and food systems in support of climate action. The United States looks forward to working with India to support the conclusion of a contract to build six Westinghouse Electric Company AP-1000 nuclear reactors in Kovvada, India, and looks forward to a completed techno-commercial offer soon. Once completed, the Westinghouse project will provide clean, reliable power to millions of Indians.
European insurers to boost ESG investments on Solvency II Reform
The Commission estimates that the risk-margin reduction could release up to EUR90 billion of capital and that the lower charges for long-term equities could release about EUR10 billion
ADB approves $251m for urban flood management in India
“This project will improve climate and disaster resilience of affected communities, ultimately protecting their lives, economy, and the environment.”
Centrica, Nestle, Swatch among companies exposed to physical climate risks – investors
The companies, which are involved in energy and mining, food, pharmaceuticals or technology manufacturing or transport and utilities, are more exposed to issues such as flooding than other companies in their sector and region, the Institutional Investors Group on Climate Change (IIGCC) said.In a letter to the European, Asian and U.S. companies from more than 50 IIGCC members, the investors asked the firms to identify properly and respond to events such as flooding, droughts and extreme heat.