English references

in January, a group of present and former Republican state officials gathered at a posh resort in Sea Island, Georgia, together with conservative leaders, for a two-day lesson in how to dismantle corporate America’s most ambitious response to climate change. At the Cloister, with its golf courses, tennis courts, and beaches, ESG was denounced as a sinister force undermining free markets and democracy.

As Malm and Carton explain, if firm policies were put in place to “leave fossil fuels in the ground”, stranding the assets of fossil fuel companies, there would be “layer upon layer” of value destruction.

As authorities declared 2024 the hottest on record, a key private sector climate alliance, the Glasgow Financial Alliance for Net Zero (GFANZ) abandoned a requirement that members be aligned to the Paris agreement. That was followed by a network of net zero asset managers suspending work, and deleting from its website its statement of commitments that members must adopt, after BlackRock, the biggest of them all, quit its ranks.

In the lead-up to COP29, Fausto Corvino emphasized the need for a paradigm shift within the international climate negotiations to ensure that the global rich bear a greater responsibility for climate finance. In this follow-up article, he explains why COP29 has failed in its historic mission to lay the foundations for a rapid and equitable global transition to low-carbon energy....

Since the Paris Agreement in 2016, the world’s 60 largest private banks financed fossil fuels with USD $6.9 trillion. Nearly half – $3.3 trillion – went towards fossil fuel expansion. In 2023, banks financed $705 billion in fossil fuel financing with $347 billion going to fossil fuel expansion alone.

Evidence shows a continuing increase in the frequency and severity of global heatwaves1,2, raising concerns about the future impacts of climate change and the associated socioeconomic costs3,4. Here we develop a disaster footprint analytical framework by integrating climate, epidemiological and hybrid input–output and computable general equilibrium global trade models to estimate the midcentury socioeconomic impacts of heat stress. We consider health costs related to heat exposure, the value of heat-induced labour productivity loss and indirect losses due to economic disruptions cascading through supply chains. Here we show that the global annual incremental gross domestic product loss increases exponentially from 0.03 ± 0.01 (SSP 245)–0.05 ± 0.03 (SSP 585) percentage points during 2030–2040 to 0.05 ± 0.01–0.15 ± 0.04 percentage points during 2050–2060. By 2060, the expected global economic losses reach a total of 0.6–4.6% with losses attributed to health loss (37–45%), labour productivity loss (18–37%) and i

You would think that we have more than sufficient troubles caused by global warming, pollution, resource depletion, biodiversity loss, ecosystem disruption and a few more. But there is a problem that’s not directly related to the natural world, but by a purely human construction: the financial market. Here is a discussion by Ian Schindler — maître de conference émérite (emeritus professor of mathematics) at the University of Toulouse 1, France, who proposes that we are close to a financial collapse.

A focus on economic stability in the near-term makes the climate crisis worse in the long-term.

New path to transition away from fossil fuels marred by lack of finance and loopholes COP28 in Dubai sends an important signal on the end of fossil fuels but leaves more questions than answers on how to ensure a fair and funded transition that is based on science and equity

An independent think tank producing data-driven analysis on how business and finance are impacting the climate crisis

Countries in debt distress thrown financial lifeline but critics say measures fall short of what is needed

Research allays fears that rapid scaling back of production would hit people’s savings and pensions hard

Higher rates slow the renewable energy transition and shield oil and gas producers from competition by low-carbon producers

This paper catalogues current efforts to address climate change within multilateral economic and financial institutions and related organizations. It also proposes a minimum set of policy measures that need to be prioritized by such institutions to support climate change mitigation and adaptation. The proposals include expanding public climate finance via multilateral development banks, doing more to mobilize private investment, mainstreaming climate considerations across institutional operations, making climate disclosures mandatory, and addressing sovereign debt distress to unlock private climate finance.

NEW YORK – Bloomberg today released a research paper detailing the development of BloombergGPTTM, a new large-scale generative artificial intelligence (AI) model. This large language model (LLM) has been specifically trained on a wide range of financial data to support a diverse set of natural language processing (NLP) tasks within the financial industry.

Former UN secretary general calls for rich countries to honour promises made to the developing world after years of failure

Norway’s sovereign wealth fund threatens to vote against boards on firms it holds investments with over lax climate and social targets

On June 30, 2022, the Supreme Court issued a landmark opinion in West Virginia v. EPA that substantially limited the authority of the Environmental Protection Agency (the EPA) to regulate carbon emissions from power plants. Because the opinion concerned the proper scope of executive agency rulemaking, the decision may have profound effects on other regulatory agencies, including the Securities and Exchange Commission.

The Securities and Exchange Commission today proposed rule changes that would require registrants to include certain climate-related disclosures in their registration statements and periodic reports, including information about climate-related risks that are reasonably likely to have a material impact on their business, results of operations, or financial condition, and certain climate-related financial statement metrics in a note to their audited financial statements. The required information about climate-related risks also would include disclosure of a registrant’s greenhouse gas emissions, which have become a commonly used metric to assess a registrant’s exposure to such risks.

The UK's advertising regulator has banned two HSBC advertisements for being "misleading" about the company's work to tackle climate change.