Paris agreement News

Big Oil May Face More Climate Lawsuits After Shell Ruling, Say Lawyers, Activists

LONDON – A Dutch court’s decision to force Royal Dutch Shell to make deeper, faster cuts to its climate warming emissions on the basis of human rights could set a precedent, especially in European countries, according to lawyers and activists. …

Rising Global Temperatures Move Closer to Climate Change Tipping Point: U.N. Report

There is now a 40% chance that global temperatures will temporarily reach 1.5 degrees Celsius above pre-industrial levels in the next five years — and these odds are rising, a U.N. report said on Wednesday. a U.N. report said on …

Shell Loses Landmark Climate Case in Ruling with Global Implications for Big Oil

THE HAGUE/LONDON – A Dutch court ordered Royal Dutch Shell to drastically deepen planned greenhouse gas emission cuts on Wednesday, in a landmark ruling that could trigger legal action against energy companies around the world. Shell said it was “disappointed” …

Impending Dutch Court Decision to Test Shell’s Responsibility for Climate Change

A Dutch court verdict against Royal Dutch Shell Plc will determine whether it has a legal responsibility for climate change, in a case that will be watched by Big Oil executives globally. A panel of judges in a lower court …

Climate Litigation Cases Booming After Paris Agreement – Often Led by Young Activists

Whatsapp chat rooms and Telegram channels across Germany lit up in the early hours of April 29. Young people frantically exchanged messages in a tone that went from disbelief to surprise to euphoria. The country’s highest court had just ruled …

Climate Change Could Cut Global GDP by 18% by 2050 – If Nothing Is Done: Swiss Re

If nothing is done to combat climate change, global temperatures could rise by 3.2°C within the next 30 years, shrinking the world economy by 18%, according to new research from Swiss Re, which was rolled out on Earth Day, 51 …

Zurich Insurance Deepens Climate Change Strategy

Zurich Insurance Group said it will be taking further, deeper steps to help curb carbon emissions in line with the Paris Agreement’s goals to limit global warming. Targets will include its own internal operations, companies it invests in and businesses …

France’s AXA Drops German Power Giant RWE as a Client over Large Coal Operations

AXA SA, France’s biggest insurer, is dropping German energy giant RWE AG as a client in a decision that highlights how taboo the coal business has become. Not even an appeal from RWE Chief Executive Officer Rolf Martin Schmitz to …

UK Insurer Aviva Plans to Become Net-Zero Carbon Emissions Company by 2040

British insurer Aviva plans to become a net zero carbon emissions company by 2040, it said on Monday, claiming this was the most demanding target set by any major insurer worldwide. Following the 2015 Paris Agreement on climate change, many …

AXA, Other Mega-Investors Seek to Avoid Portfolios with Global Warming Potential

All good money managers expect to outperform their benchmark, and by one such metric the French insurer and investor AXA SA recently scored a market-beating success. Not by delivering higher returns, but by generating a lower level of global warming. …