Protesters have set up a campsite in the grounds of the Scottish Parliament – and plan to remain there for the next five days. The Holyrood Rebel Camp will see “non-violent direct action” in Edinburgh with various workshops and events taking place for those on the Holyrood site. Extinction Rebellion Scotland have set up the camp, saying it will be their “biggest ever gathering”.
Scotsman 16th June 2019 read more »
Investors believe environmental concerns will be more important than financial factors for investment decisions in the next five years amid fears the climate crisis could trigger a plunge on markets and upend industries. Investors managing a combined €19 trillion (£17 trillion) picked the environment as their top consideration for investment decisions, beating financial analysis and geopolitical factors, UBS Asset Management found. Its survey revealed that more than 80pc believe their investments will be put at risk from ignoring environmental, social and governance issues.
Telegraph 16th June 2019 read more »
A $10tn (£7.9tn) investor alliance has accused more than 700 companies, including Amazon, Tesco and ExxonMobil, of failing to reveal the full extent of their impact on the climate crisis, water shortages and deforestation. The major global companies, with a combined worth ofmore than $15tn, lack transparency over their effect on the environment, according to the intervention by some of the world’s biggest financial names. Campaign platform CDP has brought together a record number of investors, including banking giants HSBC and Investec, to demand companies reveal data on the environmental cost of how they do business. The group said it was targeting 708 companies because of their “high environmental impact and lack of transparency” to date. The list includes the world’s largest fossil fuel companies such as BP and ExxonMobil as well as palm oil giant Genting Plantations and UK high street brands including Tesco, Ocado, WH Smith, Marks & Spencer and JD Wetherspoon. The CDP said 547 companies were being targeted to disclose information on the climate crisis, 166 on water security and 97 on deforestation. More than 7,000 companies already disclose their environmental impact through the CDP platform.
Guardian 16th June 2019 read more »
A nascent field of financial analysis has recently sprung up to quantify climate risks and measure which companies are most prepared (regardless of how many environmental press releases they might put out). One new metric assesses how the world’s top 500 companies by market capitalisation are preparing for a low carbon world, by measuring their current emissions and the number of low-carbon patents they hold. Almost all of them have some way to go – the analysis shows that only 15 per cent are in line with the goals of the Paris climate accord, which seeks to limit global warming to well below 2C. If the world is to avoid the worst effects of global warming, that will have to change.
FT 17th June 2019 read more »
Calls for a general strike to demand radical action on climate change received backing from a Member of Parliament for the first time on Friday, when Labour MP Alex Sobel spoke out in support of the controversial proposals. “There’s so little time to keep the planet from exceeding 1.5C temperature rise,” Sobel said. “The effects of a much hotter world would cause whole cities to be wiped out and our food systems to collapse. Its right that workers join young people to climate strike as all of society needs to call for fundamental system change.”
Business Green 17th June 2019 read more »
If nations can come together to ban something as precious to great powers as nuclear weapons, why can’t they at least try to do the same for carbon emissions? Unlike a nuclear war, which represents a terrible but highly unlikely future threat, carbon-induced climate change is a human catastrophe already in motion.
Foreign Policy 12th June 2019 read more »
Countries could instead deal with contentious international threats by stepping away from the usual processes of international law, and introducing frameworks that aim to uncompromisingly challenge the root of the menace. And there is some precedent. One example is the 2003 Proliferation Security Initiative (PSI) – a set of principles designed predominantly by the US to curb the international transfer of materials related to nuclear weapons. Crucially the PSI was not negotiated. Instead states were invited to endorse a framework of principles that had already been created. The argument was that a typical treaty would be too slow, too cumbersome, and reflect the usual challenges of international law, ruling out any serious responses. There already exist a number of states that could form an initial CSI group, all willing to commit to radical steps to fight climate change. Ireland, for instance, has also declared a climate emergency. New Zealand, too, has begun the legislative process to become carbon neutral by 2050, while Finland has targeted 2035.
The Conversation 14th June 2019 read more »