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...Bailey and his predecessor Mark Carney previously warned that climate change poses a huge systemic risk to financial markets, especially if assets become stranded — or difficult to sell....
...This year’s COP summit, which marks the culmination of a year’s worth of negotiations between countries on how best to tackle climate change, will also include a “stocktake” of what progress the world has...
...A similar letter sent by 104 British businesses this month, including Tesco, BT, and Marks and Spencer, urged Sunak to refocus on the UK’s net zero goal or risk the country being left behind....
...“Exxon’s legal action amounts to tactics of intimidation and bullying to silence our fair ask to tackle the climate crisis,” said Mark van Baal, founder of Follow This....
...Mark van Baal, founder of Follow This, said the activists had been forced to withdraw the resolution because of “Exxon’s preference to fight a battle in court instead of giving shareholders their right to...
...A run of four consecutive years when overall insurance losses from natural catastrophes have topped $100bn, previously the mark of a remarkably bad year, has spooked executives....
...Follow This is led by Mark van Baal, a Dutchman who has long argued that investors should use their voting rights to press oil companies into reducing emissions and risks associated with climate change....
...The activist group has organised similar motions at Shell meetings since 2016 but support for the upcoming resolution has drawn the largest number of investment managers, said Follow This founder Mark van...
...If agreed, the text would nevertheless mark the first plan set out by a COP summit — the world’s most important climate forum — to shift away from all fossil fuels....
...Additional reporting by Attracta Mooney in London...
...In the letter, which marks the first time such a large group of companies have collectively urged governments to move away from fossil fuels, the signatories warned their businesses are “feeling the effects...
...different jobs, including chief executive of the United Arab Emirates’ Abu Dhabi National Oil Company and chair of the state-owned renewable energy company Masdar, met Azerbaijani president Ilham Aliyev to mark...
...Mark Maslin, professor of climatology at University College London, said: “2023 is the year that climate records were not just broken but smashed.”...
...The biggest question mark is over the US’s $21bn contribution after Republicans in the US Congress previously threatened to block the release of its share....
...The UAE had a “very short window” within the remaining carbon budget to the “well below 2 degrees” level to diversify its economy from oil and gas dependency, said Mark Campanale of the Carbon Tracker Initiative...
...Researchers have traditionally focused on the effects of climate change or biodiversity loss on the planet itself, but the study from the Earth Commission group of scientists marks an attempt by experts...
...Our colleague Attracta Mooney has the interview in this story....
...Alongside the EU and Canada, China was a co-host of the meeting in Brussels, which marks the halfway point to the COP28 summit....
...“I don’t know of any country where the grid is not currently some level of obstacle to the energy transition,” says Mark Hutchinson, director for Asia at the Global Wind Energy Council, the international...
...It will also mark a departure from the civil disobedience that brought the group fame....
...Celebrities such as US actor Mark Ruffalo have added their voices to campaigns that have long called for investors to dump highly polluting stocks....
...Mark Howden, a report editor from Australia, said the research showed a “significant step-up” in confidence about the effects of climate change, especially at different temperatures....
...Mark Maslin, professor of climatology at University College London, said the government had “yet again” missed the opportunity to “radically change the UK energy production and market”....
...The science hasn’t changed, the evidence hasn’t changed,” says Mark Howden, vice-chair of the Intergovernmental Panel on Climate Change, the influential UN group that pulls together scientists and specialists...
...The case marks the first time that the environmental law charity ClientEarth, which has a record of successful claims, has targeted the UK regulator....
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