by Glen Peters, The Conversation Highlights: Carbon emissions are dropping due to reduced energy consumption, but previous financial crises and events have led to lower emissions only temporarily. At best, a financial crisis delays emissions growth a few years. So far forecasts still indicate the global economy will grow in 2020. For example, the Organization … Read more
by James Temple, MIT Technology Review Highlights First and foremost, the whole point of addressing global warming is to avoid widespread suffering and death, so climate activists should keep this lens Greenhouse gas emissions rebound is likely after the deadly coronavirus (COVID-19), as history tells us for several reasons: If capital markets lock up, it’s … Read more
Cheap oil, lower investment in renewables and a post-virus rebound will likely offset the emissions drop, but there are climate lessons in the response to the virus.
By Dieter Holger, The Wall Street Journal Highlights UBS Group, one of the world’s largest banks and previously Europe’s fourth-biggest coal-mining financier, announced it will no longer finance new offshore oil projects in the Arctic, thermal coal mines or oil sands on undeveloped land after pressure from investors and environmentalists. Outside of investor pressures, UBS says its … Read more
By Ben Christopher, Cal Matters Highlights: With primary elections coming up in California, deep-pocketed interest groups, including the fossil fuel industry, are pumping money into campaigns to secure a say in state lawmaking. California’s primary is happening earlier than usual and many residents are casting their ballots early Independent expenditure committees are allowed to spend … Read more
By Edward Robinson and Nishant Kumar, Bloomberg Highlights: British billionaire Chris Hohn of TCI Fund Management is pushing companies to provide transparency on their carbon emissions and ultimately reduce their environmental impact. Hohn is threatening to call on investors to fire managers and oust board members who do not make promises to reduce their carbon … Read more
By Christopher Flavelle, The New York Times Highlights: Due to pressure from shareholders and environmental activists, financial institutions and insurance companies are no longer investing in oil production taking place in Alberta, Canada. Though divestment promises have been made, oil extraction from the province increased last year Local Canadian banks and pension funds are still … Read more
By Emily Holbrook, Environmental Leader Highlights: Regulatory institutions and central banks are beginning to consider climate change a threat to the world’s financial stability. 55% of central banks say they are monitoring climate risks, but some of them feel that governments should be the ones mitigating climate issues Central banks and regulatory authorities are beginning … Read more
By Tracy Rucinski, Reuters Highlights: Delta Airlines aims to become the first carbon-neutral airline and plans to invest $1 billion over the next ten years to limit its environmental impact. The aviation industry accounts for roughly 2% of global carbon dioxide emissions Airlines have made small scale changes such as plastic waste reduction due to … Read more
By Karen Weiss, The New York Times Highlights: Jeff Bezos announced a new initiative titled the Bezos Climate Fund that aims to fund scientists, activists and non-governmental organizations– after being pushed by employees to address the climate crisis Amazon recently committed to a climate pledge, aiming to become carbon neutral by 2040– ten years ahead … Read more
