G20 nations ‘must improve climate action’

G20 nations around the world need to ensure businesses improve on their patchy decarbonisation progress. That’s the verdict delivered in a new report from PwC, which shows although the carbon intensity of the global economy fell 2.6% last year, this remains less than half of what is required to limit global warming to well below […]

UK outperforms G20 nations on decarbonisation

The UK decarbonised at a faster rate compared to other G20 countries last year. New analysis reveals the carbon intensity of the UK economy fell by 7.7% – almost three times the global average of 2.6%. That was due to a decline in coal usage, improved energy efficiency and “moderate” economic growth. Coal now represents […]

‘Greener economic policies can boost growth’

Integrating climate change into economic policy can significantly boost growth. That’s according to a new report from the Organisation for Economic Co-operation and Development (OECD), which shows combining these agendas could add 1% to average economic output in G20 countries by 2021 and lift 2050 output by up to 2.8%. When the economic benefits of […]

Investors worth $15tn call for climate change action

Global investors worth more than $15 trillion (£11.6tn) have signed a letter calling for G7 and G20 nations to stand by their commitments to the Paris Agreement. The 214 institutions, which include financial firms, pension funds and church groups, believe mitigating climate change is essential for the safeguarding of global investments. The letter urges governments to […]

Climate-vulnerable nations ‘to pioneer green finance’

The world’s most climate-vulnerable nations are to pioneer innovation in green finance. That’s according to a new announcement from the Vulnerable Twenty (V20) group, which says it aims to help ensure continued economic development while tackling the costly economic impacts of climate change. It adds it will focus on low-emission development, shifts in financial flows towards achieving 100% […]

Climate vulnerable nations urge G20 to end fossil fuel subsidies

The world’s most climate vulnerable countries are urging the G20 nations to phase out fossil fuel subsidies by 2020. The Vulnerable 20 (V20) nations, which include Bangladesh, Bhutan, Nepal and Philippines, are calling for “market distorting” fossil fuel production subsidies to be removed immediately and no later than the end of the decade. According to […]

Business leaders urge G20 to encourage carbon disclosure

Business leaders representing $4.9 trillion (£3.8tn) in assets have urged G20 nations to encourage greater disclosure on carbon risks. Representing a range of 27 global companies collecting around $700 billion (£546.5bn) in annual revenue, the stakeholders and decision makers want governments to formally accept and act on the recommendations of the Task Force on Climate-related Financial Disclosures. […]

Multilateral banks and private sector agree to boost sustainable infrastructure

Leaders of multilateral development banks (MDBs) have agreed to strengthen co-operation to encourage private sector investment in sustainable infrastructure. The Global Infrastructure Forum 2017 brought together potential investors, representatives from the UN and the G20 as well as heads of MDBs, including the Asian Development Bank (ADB), European Investment Bank and the World Bank. In […]

Investors call on G20 to end fossil fuel subsidies

A group of investors have called on the G20 to end fossil fuel subsidies by 2020. The businesses, which are worth a combined $2.8 trillion (£2.25tn) and include insurance firms Aviva, KBI and Legal and General, said the support for production and consumption of fossil fuels is a key concern to the finance sector. They say subsidies increase the risk of stranded fossil […]

Germany leads green finance for developing nations

Germany is to further develop a finance platform to help developing nations become more sustainable. The ‘GreenInvest’ platform will help ensure developing countries have a voice in the evolution of green finance initiatives and practices as they are often at the most risk from climate change. As part of its G20 Presidency, Germany’s Federal Ministry for Economic Cooperation and […]