Category:

Climate, Environment, Renewable Energy

Elon Musk surpasses Amazon’s Jeff Bezos as world’s richest person

The milestone caps an extraordinary 12 months for Musk. Over the past year his net worth soared by more than $150 billion in possibly the fastest bout of wealth creation in history. Fueling his rise was an unprecedented rally in Tesla’s share price, which surged 743% last year on the back of consistent profits, inclusion in the S&P 500 Index and enthusiasm from Wall Street and retail investors alike.
The world’s 500 richest people added a record $1.8 trillion to their combined net worth last year, equivalent to a 31% increase. The gains were disproportionately at the top, where five individuals hold fortunes in excess of $100 billion and another 20 are worth at least $50 billion.

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Exxon, under investor pressure, discloses emissions from burning its fuels

Most major oil companies already report Scope 3 emissions and some have reduction targets, including Occidental Petroleum, which in November set a goal to offset the impact of the use of its oil and gas by 2050. Exxon said it made the disclosure due to investor interest.
The so-called Scope 3 data is included in its latest Energy & Carbon Summary released

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Natural disasters cause $210 billion in damage in 2020, insurer says

Losses that were insured rose to $82 billion from $57 billion in 2019, Munich Re said. They add to the burden of the coronavirus pandemic that has hit the insurance industry hard.

“Climate change will play an increasing role in all of these hazards,” said Munich Re board member Torsten Jeworrek, pointing to hurricanes, wildfires and other storms.

“It is time to act,” he said.

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