News

Climate Change

Carbon Prices — The Never-Ending Squeeze

Marin Katusa | Equities.com |

If you’ve been paying attention to carbon prices, you’ll know that they’ve been on a tear.

In the wake of COP26, carbon prices skyrocketed - capping off what has already proven to be a record-setting year for the carbon markets.


UN Report Shows COVID-19 Has Not Slowed Pace of Climate Change

Kimberly Redmond | Equities.com |

The COVID-19 pandemic has not slowed the pace of climate change and it is likely that the world will miss its Paris Agreement goal of reducing global warming to 1.5 degrees Celsius above pre-industrial levels, according to a new report from the United Nations. 

Released Thursday, the UN’s United in Science 2021 report, found that coronavirus-related stay-at-home orders and economic slowdowns caused only a temporary downturn in CO2 emissions last year and were n...


President Biden and Congressional Democrats Push for Civilian Climate Corps

AP News | Equities.com |

Inspired by the New Deal-era Civilian Conservation Corps, President Joe Biden and congressional Democrats are pushing for a modern counterpart: a Civilian Climate Corps that would create hundreds of thousands of jobs building trails, restoring streams and helping prevent catastrophic wildfires.

Building on Biden’s oft-repeated comment that when he thinks of climate change, he thinks of jobs, the White House says the $10 billion program would address both priorities as young adults find work installing solar panels, planting trees, digging irrigation ditches and boosting outdoor recreation.


At Least 110 People Confirmed Dead in European Floods; Hundreds Still Missing

AP News | Equities.com |

At least 110 people have died in devastating floods across parts of western Germany and Belgium, officials said Friday, as rescue operations and the search for hundreds still unaccounted for continued.

German President Frank-Walter Steinmeier said he was “stunned” by the devastation caused by the flooding and pledged support to the families of those killed and to cities and towns facing significant damage.


European Union To Propose Broad Climate Package Including End of Gasoline and Diesel Cars in 20 Years

Reuters | Equities.com |

The European Union is set to propose measures on Wednesday, as part of a broad climate package, that signal the end of petrol (gasoline) and diesel car sales within 20 years, and accelerate a switch to electric propulsion.

Many carmakers have already announced huge investments in electrification, partly in anticipation of tougher emissions targets, but want to know whether the EU will back them by building public charging stations, and how soon it wants hybrid electric/combustion vehicles to be phased out.


Financial Stability Board Releases Roadmap for Climate-Related Risk Management

Reuters | Equities.com |

Global regulators published a blueprint on Wednesday to give a "sense of direction" to proliferating initiatives for tackling climate-related financial risks before they fragment markets.

The Financial Stability Board (FSB), which coordinates financial rules for the G20 group of nations, said its "roadmap" seeks to coordinate approaches to disclosures by companies and plug gaps in the data needed to spot financial stability "vulnerabilities" and develop tools to address them.


Energy Investment To Recover By 10% This Year But To Miss Net Zero Emissions Goal

Reuters | Equities.com |

Investment in energy is on track to recover by nearly 10% in 2021 as the world emerges from the COVID-19 pandemic, the International Energy Agency (IEA) said on Wednesday, but spending will fall far short of meeting urgent climate goals.

More of the $1.9 trillion in investment is projected to shift toward electricity than ever, with more than $820 billion due to earmarked for power - the sixth year in a row it will outstrip investment in traditional oil and gas.


US Currency Official Says Climate Change Risks Will Affect Bank Capital in Long Term

Reuters | Equities.com |

U.S. regulators will "eventually" have to factor climate change risks into bank capital rules, but it is still too soon to say when that would become necessary, a top official told Reuters.

Acting Comptroller of the Currency Michael Hsu said in an interview that regulators were still exploring the best way to incorporate climate change risks such as extreme weather events or major policy shifts into bank supervision and oversight.


Democratic Lawmakers To Propose Tax Credit for Sustainable Aviation Fuel on Thursday

Reuters | Equities.com |

U.S. lawmakers plan to introduce a bill on Thursday that would create a tax credit for lower-carbon sustainable aviation fuel, which they hope will slash emissions of greenhouse gases from the aviation industry.

The legislation, seen by Reuters, would impose a tax incentive of up to $2.00 for every gallon produced of sustainable aviation fuel, which can be made from feedstocks such as grease, animal fats and plant oils. That price would make it one of the most expensive subsidies for clean fuel.


Germany's Highest Court Rules That Government Must Revise Climate Act To Protect Future Generations

Kimberly Redmond | Equities.com |

Germany’s highest court ruled Thursday that the government’s climate protection plan was insufficient to protect future generations, ordering officials to set clear goals for reducing greenhouse gas emissions after 2030.

In its ruling, the Bundesverfassungsgericht, or Federal Constitutional Court, said Berlin’s reduction plan was “incompatible with fundamental rights” because it failed to cover the years beyond this decade and would “irreversibly offload major emission reduction burdens onto periods after 2030.”


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