global warming News

World’s Largest Asset Owners Pledge to Halve Emissions in Portfolios by 2030

A group of the world’s largest asset owners managing $10.4 trillion said on Tuesday they would step up their response to climate change and aimed to at least halve carbon emissions from their investment portfolios by 2030. The 69 members …

Aviva Broadens Sustainable Investments to Include Biodiversity, Human Rights

Leading British asset manager Aviva Investors plans to push boards for greater action on biodiversity and human rights so that companies consider “the whole picture of sustainability.” Alongside climate change, a core focus for most investors, Aviva’s move reflects growing …

Nearly 8-in-10 Executives Believe World Is at ‘Climate Change Tipping Point’

Two-thirds of executives say their companies are “very concerned” about climate change, and 79% believe the world is at “a climate change tipping point,” according to the recently released Deloitte 2022 CxO Sustainability Report. Deloitte polled more than 2,000 C-suite …

Net-Zero Insurers’ Climate-Friendly Plans to Exit Coal Impeded by Antitrust Laws

A group of the world’s biggest insurers and reinsurers jointly pledging to eliminate greenhouse gas emissions from their underwriting activities have run into an unexpected opponent of their planet-friendly mission: competition law. The Net-Zero Insurance Alliance, which counts AXA SA, …

UK High Court Throws Out Case Brought by Climate Activists Against Oil Regulator

A UK High Court on Tuesday threw out a case brought by climate activists against the country’s oil and gas regulator OGA, rejecting their argument that the OGA’s actions amount to a type of unlawful subsidy of the fossil fuel …

Container Shipping Giant Maersk Speeds Up Decarbonization Target by a Decade

COPENHAGEN – Container shipping giant A.P. Moller-Maersk now plans to achieve net zero emissions in its business by 2040, a decade earlier than previously announced, on the back of rising customer demand for green transportation and technical leaps. With about …

Climate Activists Behind Landmark Shell Verdict Set Sights on 30 Multinationals

The Dutch wing of environmental group Friends of the Earth, which won a landmark court case against Royal Dutch Shell last year, demanded 30 corporations publish plans for big cuts in greenhouse gas emissions in a campaign launched on Thursday. …

Thawing Permafrost Could Damage Up to 50% of Arctic Infrastructure: Report

Thawing permafrost could put as much as 50% of Arctic infrastructure at high risk of damage by 2050, requiring tens of billions of dollars in maintenance and repairs, scientists warned on Tuesday. The world’s permafrost — land that remains frozen …

Climate Crisis Is Top Risk Facing World for Next Decade: World Economic Forum Survey

There’s little faith in the global economic recovery accelerating, with officials and business leaders citing climate change and rising social tensions, alongside the pandemic, among their top risks, the World Economic Forum found. Only one in six survey respondents from …

Natural Disasters Cost Insurers $120B in 2021. Munich Re Points to Climate Change Link.

Natural disasters across the globe caused economic losses of US$280 billion in 2021, of which roughly US$120 billion were insured, according to a report from Munich Re, which noted that U.S. natural catastrophes represented an exceptionally high proportion of the …