Fierce debate over what decarbonisation conditions should be imposed to developing nation organisations seeking to access funding from Green Climate Fund

Board members from developing countries insisted that making a 2050 net zero goal a condition for accreditation to the fund breaches equity principles. As we get closer to COP26, this is a significant issue that needs to be addressed. Chloé Farand discusses the issues in an article on the Climate Change News website.   Dispute … Continue reading Fierce debate over what decarbonisation conditions should be imposed to developing nation organisations seeking to access funding from Green Climate Fund

Calls for Mark Carney, UN Special Envoy on Climate Action and Finance, to help the finance world do better to address climate change

Catherine Abreu writes on the National Observer website that Mark Carney has a key role in ensuring the financial community raise their efforts in addressing climate change as we head towards COP26 in Glasgow in a few weeks.   Mark Carney needs to raise the bar on climate action for financial institutions Mark Carney is … Continue reading Calls for Mark Carney, UN Special Envoy on Climate Action and Finance, to help the finance world do better to address climate change

European Central Bank climate stress tests show the challenges ahead

The stress test published Wednesday compiled data gathered on more than 4 million companies worldwide and 1,600 banks in the 19-country eurozone where the ECB sets monetary policy. The broad takeaway was that an orderly and swift transition “to minimize costs and maximize benefits outweighs short-term cost of transition to zero-carbon economy over the medium … Continue reading European Central Bank climate stress tests show the challenges ahead

New analysis shows the cost of achieving carbon neutrality in Germany

Germany wants to be carbon neutral by 2045. Restructuring its economy will cost trillions. But not investing the money would cost even more. Tim Schauenberg discusses the costs in an article on the Deutsche Welle website. This is obviously an area that the incoming Chancellor will have to deal with – urgently.   What climate … Continue reading New analysis shows the cost of achieving carbon neutrality in Germany

We need to think about the wide range of ways to cut shipping emissions in the coming decade

One of the sectors doing the most damage is international shipping, the emissions of which are almost equivalent to those of an industrial country like Germany. Simon Bullock, PhD Candidate in Shipping and Climate Change at the University of Manchester provides 10 ways to reduce GHG emissions in an article on The Conversation website.   … Continue reading We need to think about the wide range of ways to cut shipping emissions in the coming decade

Concerns about widespread lapses in climate risk reporting found in company accounts

Over 70% of some of world’s biggest corporate emitters failed to disclose the effects of climate risk in 2020 financial statements. 80% of their auditors showed no evidence of assessing climate risk when reporting. The report is discussed in an article on the Carbon Tracker website.   Flying blind: The glaring absence of climate risks … Continue reading Concerns about widespread lapses in climate risk reporting found in company accounts

Important step forward in funding renewable energy development in Africa

UK Climate Investments is setting up Africa’s first dedicated renewable energy yieldco. A yieldco is a company that is formed to own operating assets that produce a predictable cash flow, primarily through long term contracts. Bella Weetch writes on the Energy Global website about latest developments.   UK Climate Investments to support renewable energy development … Continue reading Important step forward in funding renewable energy development in Africa

EBRD advances first loan to support renovation of residential multi-apartment buildings in Lithuania

Addressing a core issue in the effort to improve the use of energy in Lithuania, the European Bank for Reconstruction and Development (EBRD) is lending €67.5 million to support an innovative scheme to scale up renovation of residential multi-apartment buildings – its largest direct investment in renovating privately owned buildings in the country, according to … Continue reading EBRD advances first loan to support renovation of residential multi-apartment buildings in Lithuania

How much climate change harms economies will depend a lot on how financial regulators and central banks react

Garth Heutel, Givi Melkadze and Stefano Carattini from Georgia State University write on The Conversation website about the important role central banks can play to avoid a financial crisis triggered by climate change. They conclude that central banks will have roles to play as countries try to manage climate change going forward. In particular, prudent … Continue reading How much climate change harms economies will depend a lot on how financial regulators and central banks react

“Despite increased climate ambitions, the amount of economic recovery funds being spent on clean energy is just a small sliver of the total”

Global carbon emissions are set to rise to record highs in 2023 unless governments around the world do more to channel Covid-19 recovery spending towards green projects, the IEA warns. This is an important message in a year when climate issues will be at the forefront at COP26. Worryingly, the IEA says that only two … Continue reading “Despite increased climate ambitions, the amount of economic recovery funds being spent on clean energy is just a small sliver of the total”