Paris climate agreement News

Cities of Paris and New York Join Climate Litigation Against TotalEnergies

The cities of Paris and New York have joined a coalition of associations and local authorities that are suing oil major TotalEnergies for failing to adequately fight climate change, the coalition said in a statement on Wednesday. “All the signals …

Assets of World’s Largest Companies at Growing Risk of Climate Impact: S&P

Over 90% of the world’s largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday. From heatwaves …

Munich Re Issues Green Bond in U.S. Market, in a First for a European Insurer

Following its successful placement of green bonds in 2020 and 2021, Munich Re has successfully placed its first green subordinated bond in a private placement to qualified institutional buyers in the U.S. market. By issuing this bond in the globally …

Swiss Re and UBS Among Founding Buyers of Credits From Carbon Removal Scheme

Insurance firm Swiss Re and banking giant UBS are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges …

COP26 Coal Pledge Falls Short on Support From Big User Countries as Emissions Surge

GLASGOW – A pledge to phase out coal gained the support of 23 more countries at the U.N. climate conference on Thursday, but was shunned by big users of the dirtiest of the fuels that cause global warming. The COP26 …

Banks, Asset Managers, Representing 40% of World’s Assets, Vow to Meet Climate Goals

Banks and asset managers representing 40% of the world’s financial assets have now pledged to meet the goals set out in the Paris climate agreement, as an alliance championed by former central banker Mark Carney swells under the gaze of …

What Are the Economic Stakes of Climate Change?

COP26 climate talks in Glasgow starting next Sunday may be the world’s best last chance to cap global warming at the 1.5-2 degrees Celsius upper limit set out in the 2015 Paris Agreement. The stakes for the planet are huge …

Greenhouse Gas Levels Hit Record in 2021 as World Fails to Cap Rising Temperatures

GENEVA/GLASGOW – Greenhouse gas concentrations hit a record last year and the world is “way off track” on capping rising temperatures, the United Nations said on Monday, showing the task facing climate talks in Glasgow aimed at averting dangerous levels …

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 …

Analysis: Exit from Paris Agreement Creates Climate Liability for U.S. Businesses

The outcome of the U.S. general election is not yet clear. What’s been obvious for months is that climate change was on the ballot, and the U.S. election matters for global climate action. And one thing is certain: The U.S. …