Photo by Lyndsay Abel on Unsplash

Climate finance is failing communities most at risk from warming

The year 2020 will be remembered as a dreadful time in human history. The COVID19 pandemic has wreaked havoc, decimating lives, livelihoods and global prosperity. But as terrible as this year is, there is another global crisis screaming for our attention, one that will dwarf the catastrophic impacts of the pandemic. We are, of course, talking about climate chaos.

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Climate

Fed gets new carbon warning: 'Will never be a vaccine for climate'

Wall Street banks make progress on climate change finance, but a group of big investors representing $1 trillion warn Federal Reserve Chair Jay Powell of systemic market risks.
www.ft.com
Climate

Big US investors urge regulators to treat climate as systemic risk

US investors managing nearly $1tn of assets have written to Federal Reserve chair Jay Powell and other regulators urging them to treat climate change as a systemic financial risk.

grist.org
Climate

3 unexpected ways Joe Biden plans to tackle climate change

Biden's new $2 trillion climate plan includes some smaller and less well-known climate interventions that, despite their obscurity, could have wide-ranging impacts on emissions and the U.S. economy.

www.axios.com
Climate

BlackRock took "voting action" against 53 companies on climate issues so far this year

BlackRock said this year it has used its shares to take "voting action" against 53 companies that are "making insufficient progress integrating climate risk into their business models or disclosures."

thetyee.ca
Toxics

Alberta pouring billions into Keystone XL an ‘idiotic waste’: financial analyst

Kingsmill Bond of Carbon Tracker has worked for some of the world’s biggest banks. A Tyee interview.
www.theguardian.com
Climate

Australian banks 'undermining Paris agreement' with $7bn in fossil fuel loans

Since the Paris agreement was signed, Australia's big four banks have financed new fossil fuel projects that would cancel out the national emissions reduction target 21 times over, according to analysis by the activist investor group Market Forces.

Justice

The Fed is bailing out polluters while cities struggle

Fossil fuel interests have readier access to stimulus money than many local governments.
news.mongabay.com
Climate

For investors concerned about deforestation, there's a guide for that

Climate change threatens ecological and economic systems. That is why investors are increasingly looking to invest in companies with a plan to address one of the largest drivers of climate change: deforestation.

Justice

Is BlackRock the new vampire squid?

The investment giant casts itself as socially responsible while contributing to the climate catastrophe, evading regulatory scrutiny, and angling to influence a Biden administration.
www.theguardian.com
Climate

Trillion-dollar investors warn Brazil over 'dismantling' of environmental policies

Investors managing trillions of dollars in assets have warned Brazil that escalating deforestation and the "dismantling" of policies to protect the environment and indigenous communities are "creating widespread uncertainty about the conditions for investing".

Justice

After BP takes a hit, investors widen climate change campaign

The effort aims to press oil majors to better reflect climate risks in their accounting, and will soon target other businesses with heavy fossil fuel exposure
markets.businessinsider.com
Climate

Goldman Sachs says renewable-energy spending will surpass oil and gas for the first time ever in 2021

The transition to renewable power from traditional fuels will create a $16 trillion investment opportunity through 2030 as spending shifts to new infrastructure, Goldman Sachs analysts say.

www.axios.com
Climate

Why BP's revealing accounting move could be a signal for oil's future

BP's mammoth asset write-down is certainly a big story, but whether it's a big climate change story is a trickier question. Let's give it a qualified yes.

www.climatechangenews.com
Climate

UK aid and foreign ministry merger raises fears for politicisation of climate finance

Climate finance is at risk of becoming politicised by a merger between UK international development and foreign affairs ministries, aid experts have warned

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