April 25, 2021


Biden Announces International Climate Finance Plan | National News

President Joe Biden on Thursday announced a new climate finance plan during his two-day summit that seeks to boost funding for developing countries.

“Today we are issuing America’s first ever international climate finance plan,” Biden said at his virtual climate change summit. “This plan represents our vision for financing the global climate response in a coordinated way. It lays out specific steps that federal agencies of the United States will take to increase both the quality and quantity of climate financing.”

Under the plan, the U.S. aims to double its climate financing to developing countries by 2024 relative to the

Read More

Business groups see climate change as major focus for employees

BOSTON (SHNS) – As workers are given more leeway to bring their personal causes and beliefs into the workplace, companies can use their own engagement around issues like climate change to help recruit and retain employees and particularly younger employees.

That was the message Thursday from Ali Armstrong Sherwood, associate director of partnerships at the Trustees, and Kalila Barnett, climate resilience program officer at the Barr Foundation, who spoke as part of Greater Boston Chamber of Commerce’s “City Awake” series focused on issues of importance to young professionals.

“Folks are paying

Read More

Climate Change Could Cut World Economy by $23 Trillion in 2050

WASHINGTON — Rising temperatures are likely to reduce global wealth significantly by 2050, as crop yields fall, disease spreads and rising seas consume coastal cities, a major insurance company warned Thursday, highlighting the consequences if the world fails to quickly slow the use of fossil fuels.

The effects of climate change can be expected to shave 11 percent to 14 percent off global economic output by 2050 compared with growth levels without climate change, according to a report from Swiss Re, one of the world’s largest providers of insurance to other insurance companies. That amounts to as much as

Read More

Treasury creates hub to fight climate change through finance

The Treasury Department on Monday announced its plans to fight climate change through fiscal policy and create a new office to chart an economically beneficial path away from fossil fuel energy.

The department said Monday it will create a “Climate Hub” led by John E. Morton, a former Obama administration official and climate finance expert, that will coordinate climate-related initiatives across the entire Treasury Department.

“The steep consequences of our actions demand that the Treasury Department make climate change a top priority,” said Treasury Secretary Janet YellenJanet Louise YellenOn The Money: Yellen touts ‘whole-of-economy’ plan to fight climate change

Read More

Carney, Kerry Launch Global Finance Plan to Boost Climate Action | Top News

LONDON (Reuters) – UN climate envoy Mark Carney and U.S. peer John Kerry on Wednesday announced a new plan to boost efforts by the financial system to help move the global economy to net zero greenhouse gas emissions.

While many large banks, insurers and asset managers have started to commit to some form of action, the frameworks used can differ and some are not rooted in climate science or backed up by interim targets between now and 2050.

To help fix the problem, the new group – Glasgow Financial Alliance for Net Zero (GFANZ) – will bring existing net zero

Read More

Climate scientists swap fieldwork for finance

Environmental scientist Laura Garcia Velez cut her teeth on projects to help Ethiopian farmers insure crops for drought and connect remote Colombian communities to the electricity grid before working for conservation campaigners WWF.

Now she’s an analyst for Lombard Odier, charged with improving the $350 billion Swiss bank’s green credentials.

“It’s really important that finance recruits from science,” said Velez, one of a growing number of campaigners and scientists who have switched to banking, which she hopes can play a role in “greening the polluting industries”.

Activism and finance may seem an unlikely pairing of two implacable foes.

Yet banks,

Read More