UK banks and asset managers collectively financed projects emitting 805 million tonnes of greenhouse gases in 2019 – around twice the UK’s annual national carbon footprint. That is according to a major new analysis from WWF and Greenpeace UK. The analysis covers the financial activities of 15 large banks and 10 large asset managers with UK operations, assessing their Scope 3 (indirect) emissions from financed activities using the frameworks provided by the GHG Protocol and the Partnership for Carbon Accounting Financials (PACF). Collectively, the activities of these organisations accounted for CO2e emissions 1.8 times higher than the UK’s national figure in 2019. Many of the banks and investors, the report claims, are still funneling millions or even billions into high-carbon sectors such as oil and gas, coal, aviation, road transport and mining, without environmental ‘strings’, despite a trend towards updated climate targets.
Edie 25th May 2021 read more »
Guardian 25th May 2021 read more »
The safety watchdog is seeking to prosecute a chemical plant over the release of hydrocarbon gases. A report has been sent to the Crown Office about the site at Mossmorran in Fife, which is owned by ExxonMobil, after an investigation by the Health and Safety Executive (HSE) that discovered gas releases during a routine inspection in the spring of 2019, which have since been resolved. Separately there are also moves by the environment watchdog Sepa to prosecute the plant for repeated flaring in April 2019, which led to more than 900 complaints. Greg Haywood, HSE principal inspector of health and safety, said: “Thorough inquiries have been made into this issue and a formal report has been submitted to the Crown Office and Procurator Fiscal Service.”
Times 25th May 2021 read more »