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Insurance premiums for climate resilience and NatCat protection are set to increase by 50% by 2030, to reach $200-250 billion, says report
Whilst insurance promises to be a great enabler to unlocking the...
Cost of new drug development is key concern for life science as focus shifts to repurposing: WTW Survey
The survey also revealed that regulation and reputation risk have...
India is targeting additional 2 bn carbon sequestration by 2030: Javadekar
“India has taken a target of creating additional 2 billion tonnes of carbon sequestration by 2030. In last 7 years of the Narendra Modi government, the tree cover with forest and outside forest has grown by 15,000 sq km.”Union Minister of Environment, Forest and Climate Change Prakash Javadekar
Why Mukesh Ambani’s gigafactory for hydrogen could be a game-changer
Zero-carbon electricity will be instrumental in decarbonizing, but it can only go so far, and we’re still quite a ways away from there. Power sector emissions flattened out early last decade, and almost certainly peaked for good in 2018.
Greater demand for renewable power will drive that curve down further, which will in turn incentivize its use in any process that can substitute electricity for something that creates greenhouse gas emissions.
Development bank climate finance spending hit $66 bln in 2020 – report
A total $38 billion, or 58%, of the total went to low and middle income countries, the 2020 Joint Report on Multilateral Development Banks’ Climate Finance said.
Additional finance committed by other sources alongside the development banks totalled $85 billion, while direct funding from private sources was $5.9 billion.
Floods may be nearly as important as droughts for future carbon accounting
“These wet extremes have basically been ignored in this field and we’re showing that researchers need to rethink it when designing schemes for future carbon accounting,” said senior study author Alexandra Konings, an assistant professor of Earth system science in Stanford’s School of Earth, Energy & Environmental Sciences (Stanford Earth). “Specific regions might be much more important for flood impacts than previously thought.”
India says will oppose ‘regressive proposal’ by rich nations on carbon tax
US President Joe Biden’s administration is considering a so-called border adjustment tariff to be levied on certain carbon-intensive goods imported from countries with lax climate controls. That’s similar to plans put forth by the EU and those being discussed by the UK and Canada.
MS&AD becomes the first Japanese insurer to adopt coal exit policy
Yuki Tanabe, Program Director at the Japan Center for a Sustainable Environment and Society (JACSES), said: “We welcome MS&AD’s announcement to completely end insurance underwriting for new coal-fired power generation projects, and urge other Japanese non-life insurers, such as Tokio Marine and Sompo, to establish similar policies immediately.”
$1 billion fund for renewables among key energy commitments made during UN ministerial forums
Globally, nearly 760 million people lack access to electricity and 2.6 billion continue to cook with traditional fuels like wood that not only contribute to carbon emissions but also causes 4 million deaths each year from indoor smoke.
CRISIL launches ESG scores of 225 companies
Said Ashu Suyash, MD & CEO, CRISIL, “ESG is already playing a material role in the decisions of governments, regulators, investors, lenders and corporates. This will not only transform the investment management industry, but also redefine corporate India’s approach to risk management for sustainable value creation. Our survey shows over 80% of issuers and institutional investors intend to integrate ESG in their decision-making. Our India-focused framework sieves through the challenges of disclosure quality and standardisation by leveraging our deep sectoral expertise and proprietary databases. Our ESG research, data, insights, assessments and solutions will empower customers and stakeholders to make decisions with conviction, and contribute to sustainable progress globally.”
The trillion dollar climate finance challenge (and opportunity)
Many countries lack the financial resources to make the transition to clean energy and a sustainable way of life that could reverse climate change.
The UN says that says that climate finance is the answer because not investing will cost even more in the long-term, but also because there are significant opportunities for investors.
Green Dividend: China’s electric car capital has lessons for the world
“At the beginning, people had many concerns about EVs, such as safety or the convenience of charging,” Gou Yi, a deputy chief at Liuzhou’s branch of the National Development and Reform Commission, China’s top economic planner, said in an interview.
“What we did was to make sure our citizens felt it’s very comfortable to use EVs. People have realized how economical and easy electric cars are, and how much cleaner our air has become after more and more EVs hit the roads.”