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As the climate crisis causes heavier and more frequent floods across the US, one in four small businesses are one disaster away from shutting down
An independent think tank producing data-driven analysis on how business and finance are impacting the climate crisis
As we mark 100 days until the COP28 UN climate summit, the urgency of addressing the climate crisis has never been more palpable. Global failures to mitigate emissions and adapt to the impacts continue to wreak havoc on the planet, and we’re seeing this in a range of ways. Unprecedented extreme weather events have occurred with frightening regularity in 2023. In March, over 500 people lost their lives when Cyclone Freddy struck Malawi. Last month, flooding in the Philippines caused by Typhoons Doksuri and Khanun displaced more than 300,000 people, and the recent wildfires that ravaged Hawaii – in part exacerbated by climate change – continue to make for distressing headlines. This list is likely to become even longer by the end of the year, when COP28 gets underway in the United Arab Emirates (UAE).
A beauty company has appointed a director to represent nature on its board, giving the natural world a legal say in its business strategy. Faith In Nature, which sells soap and haircare products, as well as household cleaners and shampoo for dogs, says it is the first company in the world to give nature a formal vote on corporate decisions that might affect it
Grzegorz has given up driving for a far more lucrative line of work as Poland grapples with energy shortages: illegal mining. Around his home in the Lower Silesian city of Walbrzych, coal sits as little as a meter below the surface in fields, recreation areas and even gardens. A four-man team can unearth a ton in an hour and make 1,000 zloty ($220) each for half a day’s work, roughly 60% of what an average person earns in a week.
Industry groups representing some of the world’s largest companies are “opposed to almost all major biodiversity-relevant policies” and are lobbying to block them, according to a new report. Researchers found that 89% of engagement by leading industry associations in Europe and the US is designed to delay, dilute and block progress on tackling the biodiversity crisis, which scientists say is as serious as the climate emergency.
With the Australian Actuaries Institute Climate Index reaching the highest rainfall and temperature levels since the index was launched in 2018, it is not surprising that the Actuaries Institute’s latest Green Paper has warned of climate change’s impact on home insurance affordability in Australia.
School and university students all over the world are planning to take school strikes one step further and occupy our campuses to demand the end of the fossil economy. Taking a lesson from student activists in the 1960s, the climate justice movement’s youth will shut down business as usual. Not because we don’t like learning, but because what we’ve learned already makes it clear that, without a dramatic break from this system, we cannot ensure a livable planet for our presents and futures.
Humans will cause so many mammal species to go extinct in the next 50 years that the planet's evolutionary diversity won't recover for 3 to 5 million years, a team of researchers has found.
At the beginning of nearly every war including the current one in Ukraine, there are those who loudly declare that it will be over shortly and then business-as-usual can resume. They are rarely right. While no one can say for certain what the trajectory of the Russian-Ukrainian conflict will be, the economic warfare that is going on alongside it is very likely to destroy the current global trading system.
Why do we always make the same mistake? Oh, that’s only trouble in the Balkans, we say – and then an assassination in Sarajevo sparks the first world war. Oh, Adolf Hitler’s threat to Czechoslovakia is “a quarrel in a faraway country, between people of whom we know nothing” – and then we find ourselves in the second world war. Oh, Joseph Stalin’s takeover of distant Poland after 1945 is none of our business – and soon enough we have the cold war. Now we have done it again, not waking up until it is too late to the full implications of Vladimir Putin’s seizure of Crimea in 2014. And so, on Thursday 24 February 2022, we stand here again, clothed in nothing but the shreds of our lost illusions.
We also asked about organisations’ risk response and approaches to planning. Our survey results support a picture of UK organisations that are taking steps to prepare for similar extreme weather, with the top three actions of organisations affected being capacity training or some form of knowledge transfer, investment in new technologies, and making an insurance claim. While just 16% of organisations reported having an adaptation plan, a considerable proportion (37%) said their organisation was planning to develop one.
Growing global meat consumption threatens to derail the Paris Agreement, but that hasn’t stopped the meat industry insisting it is part of the solution to climate change.
Under a “climate lockdown,” governments would limit private-vehicle use, ban consumption of red meat, and impose extreme energy-saving measures, while fossil-fuel companies would have to stop drilling. To avoid such a scenario, we must overhaul our economic structures and do capitalism differently. Many think of the climate crisis as distinct from the health and economic crises caused by the pandemic. But the three crises – and their solutions – are interconnected.
Experts say scientific advances are making it easier to attribute the damages of climate breakdown to companies’ activities. Businesses could soon be facing a fresh wave of legal action holding them to account for their greenhouse gas emissions, owing to advances in climate science, experts have warned.
