ECB warns banks that they are at severe risk from climate change
The ECB has released its bloc-wide stress test results with both a warning to banks about the impact on their balance sheets and an invitation to the ‘golden opportunity’ that investment in the new green economy represents. Short term ‘orderly’ transition is needed to avoid significant financial impacts Physical impacts are highly regionalized within the […]
US doubles its climate funding pledge
Addressing the United Nations, President Biden has increased the US funding pledge for fighting climate change to 11.4 billion dollars by 2024 The announcement follows an earlier April pledge to double the amount to 5.7 billion dollars Critics are saying the amount needed is actually closer to 40 billion dollars per year Current UN member […]
