Finance
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Paris climate deal will not deliver global carbon price, says UN chief
UN climate chief, Christiana Figueres, confirmed today that a climate deal to be delivered in Paris, later this year, will not include a global carbon price.Insurance CEOs call on Bank of England to take climate action
The leaders of 15 ClimateWise members have today written an open letter to the Governor of the Bank of England, Mark Carney, and the UK’s Prudential Regulation Authority (PRA).£14 billion of council pension funds invested in fossil fuels
UK local authorities have ploughed £14 billion of their pension funds into fossil fuel investments, according to new research released today.Government’s green policies putting “green economy” at risk, warns CBI chief
The most senior voice of British business has blasted the government’s performance on the “green economy”, warning that UK companies will lose out on hundreds of billions of pounds in opportunities for overseas exports if ministers do not reverse direction.Investors confirm $200m support for African Renewable Energy Fund
A dedicated renewable energy fund focused on sub-Saharan Africa successfully has reached its final investment target, with US $200 million of committed capital to support small to medium scale projects.Work gets underway on UK’s first ‘split-ownership’ solar scheme
The UK’s first split ownership solar farm is now being built at Braydon Manor Farm near Swindon, Wiltshire.Green Investment Bank links up with offshore wind catapult
The Green Investment Bank and the Offshore Renewable Energy (ORE) Catapult have today announced a three year agreement to work together to drive investment into offshore renewable energy through greater understanding and management of the associated risks, reducing the cost of energy from offshore renewables.Solar healthcare scheme wins $1m UN sustainable development award
We Care Solar, which provides renewable energy at low cost with a medical device that prevents maternal and child complications during labour in areas without electricity, was announced yesterday as the winner of a $1 million grant by the United Nations Department of Economic and Social Affairs (DESA).Poll finds investment confidence dented as renewable subsidies are cut
The UK Government’s policy on renewable energy is already having a significant negative impact on investor confidence after a new survey found lending to key green projects is now being withheld.Ethical finance groups announce partnership
Two long-established ethical finance organisations have agreed new arrangements that will make more money available to democratic enterprises in disadvantaged communities.Climate change threatens to wipe £2.7tn off value of private investments
Private investors stand to lose $4.2 trillion (£2.7 trillion) on the value of their holdings from the impact of climate change by 2100 even if global warming is held at plus 2C, a report from the Economist Intelligence Unit (EIU) has warned.Axa to divest £330m from coal; triple cleantech investments
The insurance company Axa has said it will remove around €500m (£355m) of coal investments from its portfolio, in a move that reflects long-term concerns in the insurance industry over climate change.Glencore chairman and former BP boss calls for end to fossil fuel subsidies
The chairman of the world’s biggest commodity trader has called for an end to subsidies for fossil fuels.Fossil fuel subsidies outstrip health spending by governments globally, says IMF
Fossil fuel companies are benefitting from global subsidies of $5.3 trillion (£3.4 trillion) a year, equivalent to $10 million every minute of every day, according to a startling new estimate by the International Monetary Fund.Lord Turner warns of carbon bubble threat to investment
Lord Turner, formerly Britain’s top financial regulator, has become the latest finance sector grandee to warn that investment industry valuations are in need of urgent review in the face of the threat posed by climate change.« Older Entries
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