G7 states pumped $42bn more into oil and gas than renewables last year, analysis finds June 2, 2021 Countries within the G7 have channelled $189bn into oil, coal and gas in the last year, despite promises of a green recovery, new analysis has revealed today. Ahead of the UK hosted G7 summit in Cornwall next week, the analysis has also shown that between January 2020 and March 2021, the UK, US, Canada, Italy, [...]
Bank of England Governor Andrew Bailey doubles down on climate plans June 1, 2021 The Bank of England Governor has doubled down on promises to carry out policies to help the UK shift to a net zero economy, but warned it was not regulators’ role to enforce change. Central banks have started to outline plans to help steer the path for economies and financial systems as they transition to [...]
Exclusive: Businesses call on govt to set global standards on environmental impacts June 1, 2021 Businesses are calling on the government to set clear global standards for recording their impact on the environment. A host of CEOs from across the business world, including James Timpson and Schroders’ Peter Harrison, have said that making it cheaper and easier for firms to record their environmental impact would make it easier not just [...]
BP invests $220m in US solar development projects June 1, 2021 BP today boosted its investment in US renewables with a $220m purchase of solar projects from developer 7X Energy. The energy giant struck a deal for assets with a production capacity of 9GW, which will be developed through a joint venture with Lightsource, Europe’s largest solar developer. It marks BP’s first independent investment in solar [...]
Can you code? Now is your chance to rescue the planet May 31, 2021 It has never been so easy to build a technology product, raise capital, and bring it to thousands, even millions of people. And all in a matter of months. Consider Hopin; the London-based virtual events platform, founded in 2019, has grown from six employees to more than 400 and now boasts over 80,000 user organisations – a good [...]
City has lost a great green advocate but the fight will continue May 31, 2021 Last week Canada, and dare I say the world, lost a key advocate of the role the financial sector plays in the fight against climate change. Sir Roger Gifford, Lord Mayor of Canada in 2012-13 and Chair of the Green Finance Institute, was instrumental in driving forward the green [...]
Cory wins £12.1m funding to supply thousands of London homes with low-carbon heat May 28, 2021 London-based environmental group Cory has been awarded £12.1m through the government’s £320m Heat Networks Investment Project (HNIP). The fund, which is split into a £1.6m commercialisation grant and a £10.5m construction loan, will provide low-carbon warmth to 21,000 London homes. Cory’s existing Riverside energy from waste (EfW) facility will provide heat for up to 10,500 [...]
UK mulls a carbon tax on polluting imports May 28, 2021 The Prime Minister is considering a carbon tax on imports that would hinder companies outsourcing their emissions and also protect farmers and local producers from being undercut from low-regulation rivals.
Ex-Aston Martin CEO: Britain needs to fight for its place in the electric car industry or risk irrelevancy May 27, 2021 As a proud Brit walking into boardrooms in Tokyo, Chennai, Brussels or California, I was often aware of the preconceptions the natives sat around the table held. The British, of course, are known for being polite, humorous and big tea drinkers. I always viewed these stereotypes as nothing more than an innocent oversimplification. A little [...]
Over half of financial services professionals claim ‘greenwashing’ is rife in the industry, study says May 25, 2021 More than half of financial services professionals believe ‘greenwashing’ is rife within the industry, according to a study released today, as employees fear competitors intentionally inflate their sustainable practices. The study by data agency iResearch Services, which polled 550 decision-makers at financial institutions, also found that 38 per cent believe every business is operating ‘unethically’ [...]