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 …
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 …
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 …
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 …
US Regulator Drops Some Emissions Disclosure Requirements From Draft Climate Rules
By Chris Prentice, Isla Binnie, Jarret Renshaw, and Douglas Gillison, Reuters Feb 22 (Reuters) – The U.S. Securities and Exchange Commission (SEC) has removed some of its most ambitious greenhouse gas emission disclosure requirements from corporate climate risk rules it is preparing to adopt, people familiar with the matter said …
Blue is the Next Green: Bonds Financing Water Conservation Projects are Approaching a ‘Tipping Point’
By Aruni Soni, Business Insider The market for bonds financing water conservation projects is approaching a “tipping point.” The market is small, just about $5 billion, but it’s seeing more enthusiasm than the early green bond market. “There’s a pretty strong economic argument to be made for investing in those …
Eight Ways the Sustainable Economy is (Still) Taking Over
By Toby Heaps, Corporate Knights After 20 years of the Global 100, sustainability is now embedded as a dominant macroeconomic growth trend. Last month, reporter David Gelles, of The New York Times, wrote that at Davos this year, the climate crisis had largely been “relegated to the back burner.” That …