Wild fires are raging in Greece, Africa and North America. Sea levels are rising and even London has recently been hit with flash flooding. According to the Intergovernmental Panel on Climate Change, things are only set to get worse. In a landmark report last week, the UN body warned that rising greenhouse gas emissions could make the damage to the earth’s ecosystem irreversible. But City grandees think they have a solution that could help save the planet: a carbon offset market that could turn a tonne of removed carbon into a commodity, just like oil or corn, and could be easily traded. Bosses are talking a big game on climate change in the wake of the report. Stephen Bird, chief executive of abrdn, one of the UK’s biggest money managers, says the 2020s are humanity’s one shot to tackle the climate emergency.
Telegraph 15th Aug 2021 read more »