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Infrastructure faces $600 billion hit in worst-case climate shift – study
The researchers describe this worst-case scenario in terms of...
Nations strike deal at COP28 to transition away from fossil fuels
“It is the first time that the world unites around such a clear...
Climate battles are moving into the courtroom, and lawyers are getting creative
Two decades ago, only a handful of climate-related lawsuits had ever been filed worldwide. Today, that number is 1,600, including 1,200 lawsuits in the United States alone, according to data reported Friday by the London School of Economics.
Cars, a cocktail and a celebrity: South Koreans succumb to Tesla fever
Tesla’s rising popularity among affluent professionals in South Korea, who have been relatively unscathed by the pandemic, is one of many feathers in its cap.Highlighting the threat it poses to established brands, Tesla last week surpassed Toyota Motor Corp as the world’s most valuable automaker while its second-quarter deliveries smashed expectations at a time when sales at rivals have been laid low by the pandemic.
South Korea’s generous subsidies of 12.43 million won ($10,380) for the Model 3 have definitely helped sales, bringing the car’s price down to less than $40,000, but the Silicon Valley automaker has also generated a genuine buzz.
Siberian temperatures hit June record, fires spread: EU data
The World Meteorological Organization is also seeking to confirm reports of a temperature reading of more than 100°F (38°C) in Siberia, which would be the highest temperature recorded north of the Arctic Circle.
“What is worrisome is that the Arctic is warming faster than the rest of the world,” said Carlo Buontempo, director of the Copernicus Climate Change Service.
Germany is first major economy to phase out coal and nuclear power
The plan is part of Germany’s ‘energy transition’ – an effort to wean Europe’s biggest economy off planet-warming fossil fuels and generate all of the country’s considerable energy needs from renewable sources.
Achieving that goal is made harder than in comparable countries such as France and Britain because of Germany’s existing commitment to also phase out nuclear power by the end of 2022.
Eyes in the sky: Investors reach for new tools to gauge climate change risk
A small but growing network of asset managers, academics, start-up entrepreneurs and campaigners are working to harness an armada of recently deployed satellites to better predict the economic impact of global warming.
While climate scientists caution that the discipline is in its infancy, advocates say the early findings have one over-riding virtue: dynamiting any remaining complacency about the scale of the disruption that lies in store.
BoE to review climate impact of corporate bond-buying after COVID crisis
The BoE has a 20 billion-pound corporate debt purchase target as part of its expanded bond-buying programme to help shield Britain’s economy.
Bank of England Governor Andrew Bailey said the crisis had not changed the BoE’s commitment to combating climate change.
Huge acceleration of clean energy innovation needed to meet net zero target: IEA
“Without decarbonising the transport sector there is no chance whatsoever of meeting climate targets,” IEA executive director Fatih Birol told Reuters.
The four most critical clean technologies needing innovation are battery technologies, carbon capture and storage, bioenergy and low-carbon hydrogen, which are currently mostly in the development phase and/or costly.
Global CO2 emissions are expected to be 8% lower this year than in 2019 – their lowest level since 2010 – as energy demand has slumped due to the coronavirus pandemic, but they are likely to rebound as economies recover unless action is taken.
Bank of England tells banks & insurers to push on with climate risk analysis
The guide drawn up by the Climate Financial Risk Forum (CFRF),which was set up by the BoE and Britain’s Financial Conduct Authority last year, is the first of its kind and sets out how financial firms can analyze and disclose risks from climate change and spot opportunities for new consumer products.Sarah Breeden, the BoE’s co-chair of the CFRF, said firms should start on their analyses straight away using the guide that is based on best practice from firms
Environmental groups propose tailings dam safety standards
The Earthworks-led report recommends that new tailings dams be banned near inhabited areas; make dam inspection data easily available; and make safety, not cost, the main factor in a dam’s construction.
Maha lockdown: Uddhav says curbs will continue after June 30
The unlock process, dubbed Mission Begin Again by the state government, is being gradually implemented to put the economy back on track, Maharashtra Chief Minister Uddhav Thackeray said in his address.
Thackeray said there will be some restrictions in the state after June 30 but more relaxations will be offered gradually.