The imperative to address climate change for insurers, infrastructure providers and utilities is clear, as it is for businesses whose products obviously contribute to global warming. However, this is now an issue for all businesses. Supply chains, customers and staff will all be affected by climate change and most businesses can positively (or negatively) make an impact on the environment by how they travel, power their offices or manufacture their products. “The environment” is rising as a criterion determining consumers’ choice in many sectors. But this won’t be cheap. Schroders estimates that FTSE 100 profits could fall by £50 billion annually as a result of measures necessary to combat climate change. And it won’t be straightforward, because influencing behaviour change will be as important as any engineering solutions. Many businesses don’t have much choice. The new stewardship code in Britain requires all listed companies to discuss how they’ve considered the environment. Many regulators are also raising climate change resilience up their agenda.
Times 14th Aug 2019 read more »
CLAIRE PERRY: In November next year, Glasgow could witness an event that changes the world. The UK is bidding to host the 26th UNFCCC ‘Conference of the Parties’, or COP, on climate change in Glasgow and it is an event that should be the most important since the meeting that led to the landmark Paris Agreement, writes Claire Perry MP. In a world divided up by national boundaries, the emissions warming our atmosphere have no territorial allegiance. It’s a classic “tragedy of the commons”, with individual emitters acting independently according to their own interests but depleting a shared resource through their collective action. In this case, the shared resource is the wafer-thin veil of atmospheric gases, described by astronauts as looking like a contact lens on an eyeball, upon which all life on this planet depends. And with carbon dioxide levels continuing to rise, global temperatures responding, extreme weather events increasing, and unprecedented wildfires ravaging parts of the Arctic, the implications of our centuries-long chemical experiment with the 62-mile-deep atmosphere of our planet are growing ever starker.
Scotsman 14th Aug 2019 read more »
When Greta Thunberg started a solo climate protest outside Sweden’s parliament building last year, no one imagined it would spark a global movement that led to her being nominated for a Nobel Peace Prize. But as she prepares to sail for the US on Wednesday, having quit flying for environmental reasons, the 16-year-old has become the figurehead for European climate activism as the continent experiences a groundswell in support for Green parties. Ms Thunberg’s prominence has grown during 2019 as she has criss-crossed the continent to lobby political leaders and rally her young supporters as part of the weekly “Fridays for Future” school strikes. Yet the number and vehemence of her detractors have grown with her.
FT 14th Aug 2019 read more »