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
Category: climate finance
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”
Upcoming webinar June 21st not to miss – Strategic Debrief: Six financial-policy levers to decarbonise Europe’s buildings
Experts will discuss the urgent financial-policy measures which can decarbonise EU buildings in line with the Renovation Wave strategy. The session will be opened with some framing words from the Laudes Foundation on its overall work and how their funding of this project fits within that content. Then Peter Sweatman, Chief Executive of Climate Strategy, … Continue reading Upcoming webinar June 21st not to miss – Strategic Debrief: Six financial-policy levers to decarbonise Europe’s buildings
Highlighting some of the problems related to financing adaptation to climate change
Jessica Omukuti, Postdoctoral Research Associate at the University of York discusses many of the problems related to financing adaptation to climate change in an article on the Conversation website. What are your views? Climate adaptation finance is ineffective and must be more transparent In 2019, an international climate fund approved a ten year US$9.3 million … Continue reading Highlighting some of the problems related to financing adaptation to climate change
