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Environment climate change gain prominence in manifestos but experts question follow-through
"It's crucial that environmental issues are not relegated to the...
IBISA launches climate cover for protecting Indian dairy industry from heat waves
In response to the significant decline in milk yield, estimated at...
Extreme weather events put $84 billion of Indian bank debt at risk
The banks flagged exposure to environmentally sensitive businesses including cement, coal, oil and power. They also listed the effects of cyclones and floods on loan repayments in farming and related sectors. Lenders accounted for 87% of the total risk, valued at about $97 billion, across 67 top Indian companies that responded to CDP.
British insurer Aviva sets out net zero 2040 climate strategy
Aviva will by the end of this year stop underwriting insurance for companies making more than 5% of their revenue from coal or “unconventional” fossil fuels such as shale gas, unless they have signed up to the Science Based Targets initiative, an NGO-led group that signs off on corporate climate plans.
Global insurers unite to tackle climate risk with launch of Geneva Association Task Force
Jad Ariss, Geneva Association Managing Director, said: “In 2020 alone, the world witnessed massive wildfires in California and Australia, historic floods in China and a record hurricane season in the Atlantic. The societal impacts of climate change have become ubiquitous, and individuals and institutions must fully commit now to confronting the climate crisis. Insurers are obvious, strong leaders on global climate action, given their core functions – managing risk and investing – and our industry-led initiative demonstrates that they are proactively rising to the occasion.”
Climate pledges for 2030 put world far off 1.5C goal, UN warns
Only two of the 18 largest emitters – Britain and the European Union – had so far presented an updated “nationally determined contribution” (NDC) containing a “strong increase” in their emissions reduction targets, she noted. “Other major emitters either submitted NDCs presenting a very low increase in their ambition level or have not presented NDCs yet,” she added in a statement.
Carbon-cutting pledges by countries nowhere near enough:UN
Fewer than half of the world’s countries, accounting for 30 per cent of the world’s carbon emissions, submitted targets by the deadline. Only seven of the top 15 carbon polluting nations had done so.
Lloyd’s insurer Brit says it will not insure Adani coal mine
Twenty-six Lloyd’s syndicates have now said they will not insure the mine, according to action group Insure Our Future.
Adani has begun construction at Carmichael together with an associated rail project, with plans to start producing 10 million tonnes of coal per year from 2021.
The coal industry is in the spotlight for its higher levels of greenhouse gas emissions than crude oil.
‘No other option’: Deadly India floods bare conflicts from hydropower boom
Whatever the role of climate change, which is rapidly heating the world’s highest mountains, experts say rampant construction is adding to the burden weighing on rural communities across the Himalayas.
NGT directs NTPC to pay Rs 58 lakh for damaging environment in Uttarakhand
“In view of the above, there is no merit in the appeal as ”Polluter Pays” principle has been rightly invoked for damage to the environment. Accordingly, the appeal is dismissed. The amount of compensation which may be recovered by the state pollution control board may be utilised for restoration of the environment,” the tribunal said.
Climate change a big challenge, disaster resilient infra need
“We should focus on improving disaster-resilient infrastructure that can withstand natural disasters,” he said.
Nigerian court freezes Shell accounts ahead of Aiteo lawsuit
The lawsuit is latest in a string of legal headaches for the biggest international oil company operating in Nigeria, Africa’s biggest oil exporter.
A British court last week cleared the way for local communities to sue the company over oil spills in the West African nation, and last month Shell lost a case brought in the Netherlands by Nigerian farmers and fisherman over pollution claims.