fossil fuels News

Europe’s Banks Move to Greener Finance in Response to Climate Change Risks

Some of Europe’s largest banks are unveiling plans to lend and manage money in greener ways as pressure mounts to account for risks associated with climate change. “It is coming, it’s a trend that’s started,” said Louis Douady, head of …

Many Large Investors Tackle Climate Risks with Greener Investments

Most of the world’s largest asset owners have gotten the message that climate change poses a risk to their portfolios and are pivoting toward greener investments. Funds worth $27 trillion that comprise 60 percent of the world’s biggest investors are …

China & India Lead U.S. in Renewable Energy Targets: Allianz

Renewable power investments will need to rapidly grow in the coming two decades to be in line with the Paris Agreement climate goals, according to the Allianz Climate & Energy Monitor Deep Dive, which aims to inform investors and policymakers …

U.K. Has 1st Day Without Burning Coal for Power Since 1880s

The U.K. had its first full day without burning coal to make electricity since the Industrial Revolution more than a century ago, according to grid operator National Grid Plc. “Friday 21st April 2017 was the first 24-hour period since the …

Report Calls Out Insurers for Half-a-Trillion Dollars in ‘Dirty Energy’ Investments

Leading U.S. insurers have nearly half-a-trillion dollars invested the fossil fuel energy and the electric and gas utility sectors, according to a report out today that urges state insurance regulators and board members of these companies to help move them …

Institutional Investors Ignore Climate Risks Despite Bank of England Warning

The number big investors ignoring climate change risk increased last year despite a stark warning from Bank of England Governor Mark Carney about the potential for “huge” losses from a sudden shift in regulation designed to curb global warming and …

In Texas Court, Exxon Files to Block Climate-Change Document Subpoena

Exxon Mobil Corp. is squaring off against government investigators who believe the energy giant covered up knowledge of how fossil fuels contribute to climate change. Exxon went to state court this week in Texas to quash a subpoena issued last …

Fossil Fuel Divestments by Insurers & Other Investors Top $3.4 Trillion: Activists

Insurers, cities and other investors controlling more than $3.4 trillion in assets have pledged to keep some or all of their money out of fossil-fuel companies — a high-water mark for the divestment movement, according to climate-change advocates. The number …

Climate Risk May Hit Equity Portfolios as Investor Sentiment Shifts: Study

Equity portfolios may lose as much as 45 percent of their value due to shifting investor sentiment about climate change, according to a report by. Investors are becoming more aware of the short-term impact that the warming planet may have …

10 Oil & Gas Bosses Seek to Improve Image Before Climate Change Summit

Oil and gas industry bosses called for an “effective” agreement at the United Nations climate change summit in December, recognizing that current greenhouse gas emissions were inconsistent with the goal of limiting global warming. The leaders of 10 companies said …