Time is running out to meet the goals of the Paris Agreement and avoid catastrophic climate change. The 2018 special report of the Intergovernmental Panel on Climate Change (IPCC) “suggests a remaining budget of about 420 Gigatonnes (Gt) of CO2 for a two-thirds chance of limiting warming to 1.5°C.” The clock on this so-called remaining carbon budget started ticking at the beginning of 2018. Despite this stark warning, the world keeps emitting over 40 Gt of CO2 per year. In other words, the policy instruments that are currently being used across the globe to reduce CO2 emissions aren’t working. It is therefore time to ban fossil fuels.
Guardian 9th March 2021 read more »
Major pension funds that own assets worth £870bn, including those of the Church of England, Lloyds Banking Group and the National Grid, have committed to cutting the carbon emissions of their portfolios to net zero by 2050 or earlier, in another sign of big investors’ increasing focus on the climate crisis.
Guardian 10th March 2021 read more »
Nearly 80 per cent of directors from five of the UK’s top banks have links with big polluters, an investigation has found. An analysis by environmental investigations outlet DeSmog found that 50 out of the 64 current directors of Barclays, HSBC, NatWest, Lloyds and Standard Chartered have a past or current connection with a highly polluting industry. For example, Barclays group finance director Tushar Morzaria is currently a non-executive director for the oil major BP, while HSBC director Pauline Van Der Meer Mohr has worked with Shell, according to the investigation.
Independent 9th March 2021 read more »