The Climate Principles: First global climate change framework for finance sector • Sarkozy moves to enlist Eastern EU members on climate change • UK Climate Change Law: UK takes legal lead on climate change • California hosts Governors’ Global Climate Summit • Nike, Starbucks, others form clean-energy coalition • Scotland hopes to lead the way in tackling climate change with new bill • IEA’s World Energy Outlook 2008 • Global investors call for urgent policy action on climate change • Deutsche Bank Report: Investing in climate change can stave off recession • Carbon Markets valued at over US$100 billion
Global banking giants sign up to The Climate Principles
2 December
Business Green
Developed by The Climate Group, The Climate Principles is the first comprehensive industry framework for the sector’s response to climate change and has been adopted by Crédit Agricole, HSBC, Munich Re, Standard Chartered and Swiss Re…
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Sarkozy moves to enlist Eastern EU members on climate change
2 December
EurActiv
French President and EU presidency holder Nicolas Sarkozy will this weekend make a dramatic attempt to obtain the agreement of the bloc’s Eastern countries on the bloc’s climate change package, ahead of a crucial EU summit on 11-12 December…
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UK Climate Change Law: UK Takes Legal Lead on Climate Change
28 November
Guardian
“Getting this Bill into law makes Britain a world leader on Climate Change,” said Ed Miliband, Secretary of State for Energy and Climate Change. “It will tie this and future Governments into legally binding emission targets - an 80% cut by 2050, with five-year carbon budgets along the way. It sends a clear message before European and global climate talks that serious action is possible.”
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World governors pledge to lead climate fight
20 November
Los Angeles Times
California formally moved to spread its can-do global warming gospel around the world, signing a declaration Wednesday with 11 other U.S. states and provinces or states in five other countries to help them slash their greenhouse gas emissions. Fighting climate change shouldn’t just go “nation by nation,” Gov. Arnold Schwarzenegger told a climate summit in Beverly Hills attended by more than 700 delegates from 19 countries. It must go “province by province. . . . We have got to do something worldwide here,” he said.
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Nike, Starbucks, others form clean-energy coalition BICEP
19 November
USA Today
A new green business coalition — led by Nike, Starbucks, Levi Strauss, Sun Microsystems and Timberland — is calling for stronger policies to slash global warming and to create a clean-energy economy. The coalition called BICEP, or Business for Innovative Climate and Energy Policy, includes consumer-product companies involved for years in business and environmental issues.
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Scotland hopes to lead the way in tackling climate change with new bill
17 November
Media Global
The bill, which Scotland hopes will encourage other nations to act, not only sets a target of an 80 percent reduction in carbon emissions, but it is also the first bill to include targets on all six greenhouse gases, not just carbon dioxide, as well as emissions from international flights and shipping.
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IEA releases World Energy Outlook 2008
12 November
International Energy Agency
In the press release accompanying the report, “Current trends in energy supply and consumption are patently unsustainable – environmentally, economically and socially – they can and must be altered”, said Nobuo Tanaka. “Rising imports of oil and gas into OECD regions and developing Asia, together with the growing concentration of production in a small number of countries, would increase our susceptibility to supply disruptions and sharp price hikes. At the same time, greenhouse-gas emissions would be driven up inexorably, putting the world on track for an eventual global temperature increase of up to 6°C.”
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Global investors call for urgent policy action on climate change
11 November
Business Green
The leading climate change investor groups in Europe, the US, Australia and New Zealand have come together today for the first time to call on global leaders to deliver a post-Kyoto deal before the end of next year. The letter, which comes just ahead of the next round of UN negotiations in Poznan, Poland next month, argues that without a “strong and binding” climate change agreement to replace the Kyoto Protocol, investors will lack the certainty they require to authorise investments in low carbon technologies and business models....
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Deutsche Bank Report: Investing in climate change can stave off recession
22 October
Wall Street Journal/Market Watch
“Investing in Climate Change 2009—Necessity and Opportunity in Turbulent Times,” authored by DeAM’s Global Climate Change Investment Research team, provides a detailed analytical framework for understanding the opportunities for investing in climate change. But it also says that an economic downturn offers governments across the developed world a prime opportunity to boost their spending on ‘green’ infrastructure as a stimulus to avoid severe recession.
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Carbon Markets valued at over US$100 billion
14 October
Climate Change Corp
The world’s carbon markets grew in value by over 80% during the first three quarters of 2008 and are expected to be valued at more than $166 billion by the end of this year, according to analysis firm New Energy Finance.
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