By David Caleb Mutua, Bloomberg Highlights According to UBS Global Wealth’s head of credit, Thomas Wacker, sustainable bonds are a “defensive opportunity” that credit investors should favor over non-green, investment-grade corporate notes The fossil fuel industry has no presence in the green bond market and are feeling the impacts of the turning economy due to … Read more
by Tim McDonnell, Quartz Highlights Failing prices are a hard blow for many of these companies, who need oil prices of at least $30 to be profitable. Stocks that were once over $100 a share are now dipping dramatically and the top largest fracking companies in the US can’t turn a profit. Whiting Petroleum, a … Read more
by Ken Kimmel, President of the Union of Concerned Scientists Highlights Current situation: Federal government response to COVID-19: In Washington DC a bi-partisan effort to help the country cope with COVID-19 is underway. So far, one immediate emergency bill appropriated approximately $8 billion designed to treat and prevent the virus. A second bill has also … Read more
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
