By Katie Surma, Inside Climate News Many small island nations which contributed little to climate change now must borrow money to rebuild after climate-induced storms. The debt service they’re carrying hinders their ability to invest in new adaptive infrastructure before the next storms hit. Small island developing countries are increasingly …
First 3 Carbon-Offset Programs Deemed Trustworthy by Integrity Council
By Sustainable Brands In what it’s calling a new chapter of trust and standardization for the voluntary carbon market, the Integrity Council for the Voluntary Carbon Market gives three carbon-crediting programs its seal of approval. The Integrity Council for the Voluntary Carbon Market (ICVCM) — an independent governance body for the voluntary carbon …
By the Dawn’s Early Light: On the Fall of the Francis Scott Key Bridge
By Ellen Brown, Web of Debt The Baltimore bridge that collapsed on March 26th was named for Francis Scott Key, who wrote the lyrics to the American national anthem “The Star-Spangled Banner” in 1814. His inspiration was the British bombardment of Fort McHenry in the critical port of Baltimore during the War of 1812. …
South Carolina mulls mystery $1.8bn in account: ‘We don’t know why it’s there’
By Martin Pengelly, The Guardian Governor says officials don’t know how or when money materialised in state coffers, what it’s for, or if it’s even real. To put it mildly, the South Carolina state government faces an unusual problem: what to do about $1.8bn found in a state bank account when no …
Central banks use AI to assess climate-related risks
By Huw Jones, Reuters LONDON, March 19 (Reuters) – Central bankers said on Tuesday they have broken new ground by using artificial intelligence to collect data for assessing climate-related financial risks, just as the volume of disclosures from banks and other companies is set to rise. The Bank for International …
U.S. SEC waters down its climate reporting rule under legal threats
By Eugene Ellmen, Corporate Knights Will Canada align itself with weaker U.S. standard, or will it go further and adopt full-scope climate reporting like Europe, California and China? The sustainable investment industry in the United States has grudgingly endorsed a watered-down regulation on climate disclosure, acknowledging a barrage of lobbying …
New Rules Will Force U.S. Firms to Divulge Their Role in Warming the Planet
By Evan Halper and Maxine Joselow, Washington Post The Securities and Exchange Commission votes 3-2 to require companies to disclose their emissions and the climate risks they face Corporations will have to share key details about their role in driving climate change and the threat that warming poses to their …
EY: Boards Must Embolden C Suites to Embed Sustainability
Sustainable Brands The 2024 EY Europe Long-Term Value and Corporate Governance Survey finds just 24% of EU company leaders understand how ESG priorities will create value; Boards must step up and challenge cooling corporate commitment to sustainability. Focusing on sustainability in today’s operating environment is clearly challenging; and EY sees worrying signs …
Exclusive: UN-backed Bank Group Seeks to Avoid Departures with New Climate Guidelines
By Simon Jessop, Isla Binnie, and Tommy Wilkes, Reuters LONDON/NEW YORK, March 5 (Reuters) – A United Nations-backed alliance of banks is proposing its members disclose more information on their commitments to tackle climate change without requiring them to coordinate action, in a compromise it hopes will prevent departures, according …
What is in the US SEC’s Proposed Rule on Climate Reporting?
By Douglas Gillison, Reuters Feb 28 (Reuters) – Wall Street’s top regulator will vote on March 6 whether to adopt far-reaching changes to the way thousands of U.S.-listed companies tell investors how climate change will affect their bottom line, a landmark rule for the U.S. Securities and Exchange Commission. The …