The insurance facility, designed by Howden and led by SCOR’s...
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Climate change figures prominently in Pakistan political parties’ manifestos
Ranked as the 5th most vulnerable country to climate change...
New UN database to help countries tap climate ‘loss and damage’ fund
Given the limitations of current databases, UNDRR is collaborating...
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.
No reason for a country to include coal in Covid-19 recovery plan:UN Chief
There is no good reason, for example, for any country to include coal in their COVID-19 recovery plans. This is the time to invest in energy sources that don’t pollute, don’t cause emissions, generate decent jobs and save money, the UN Chief said, adding that the United Nations is strongly committed to leading the renewal.
Global investors including insurers urge Brazil to stop deforestation
The 25 European signatories include Norway’s Nordea Asset Management and the Church of England, which has a 2.8 billion pound ($3.5 billion) pension fund. The UK’s Legal & General Investment Management (LGIM) is among the largest investors with 1.2 trillion pounds under management.
The letter does not spell out consequences if Brazil’s government does not take action, but seven European financial firms told Reuters last week they could divest from Brazil-linked holdings if environmental destruction continues. Many of those firms also signed the letter to embassies.
Deep sea mining could destroy undiscovered species, says Ocean Panel
Sea floor nodules contain battery metals needed to fuel the world’s transition to clean energy, but trawling the sea floor for them is likely to disrupt ecosystems about which there has been scant research, as they are very difficult to reach.
WMO seeks to verify “worrying” reports of Arctic heat record
The Arctic is warming at twice the speed of the global average and this year an unusually hot Siberian spring has melted ground snow and broken up river ice early.
NGT imposes Rs 25 lakh fine on two units in Noida, says threat of irreversible damage to environment
“In view of depleting groundwater, there is a threat of irreversible damage to the acquifiers and salinity of the water. Moreover, it is leading to scarcity of drinking water, thereby depriving a section of the society from access to potable water which is already scarce. The rainwater harvesting systems have to be regularly maintained as per norms,” the bench said.