Malaysia’s bourse to launch voluntary carbon market by year-end

A general view of a business district in Kuala Lumpur, Malaysia September 15, 2020. REUTERS/Lim Huey Teng Register now for FREE unlimited access to Reuters.com Register KUALA LUMPUR, Aug 15 (Reuters) – Malaysia’s stock exchange on Monday said it will launch a voluntary carbon market (VCM) by the year’s end, with the aim of increasing … Read more

Explainer: How could the new US corporate minimum tax affect companies?

Aug 12 (Reuters) – The main revenue source in the new US tax, climate and drugs bill is a novel 15% corporate minimum tax aimed at stopping large, profitable companies from gaming the Internal Revenue Service code and slashing their tax bills to zero. The US House of Representatives was scheduled to vote on Friday … Read more

Africa getting just 12% of financing needed to adapt to climate change – report

2020 finance flows $29.5 bn vs needed $250 bln Turns up pressure on rich countries ahead of COP27 Hurdles include infrastructure, skills, data LONDON, Aug 11 (Reuters) – Africa is getting just 12% of the finance it needs to manage the impact of climate change, a report on Thursday said, raising pressure on rich nations … Read more

Explainer: Britain and regulators square up over post-Brexit financial reform

LONDON, Aug 11 (Reuters) – Britain’s government proposed a far-reaching financial services law last month to exploit “freedoms” to write its own capital market rules since leaving the European Union. Approval of what is the biggest market reform in two decades is expected by May 2023. Liz Truss, the front-runner to become Britain’s next prime … Read more

ECB, IMF call on climate standard setters to align company disclosures

Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang Rattay/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, Aug 8 (Reuters) – A global standard setter for company climate disclosures should align with European and US alternatives for easier implementation across jurisdictions and to … Read more

UK companies may take ‘action’ if they downplay climate risk, watchdogs say

Smoke rises above a factory at sunset in Rugby, Britain February 10, 2021. REUTERS/Matthew Childs/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, July 29 (Reuters) – Some of Britain’s top listed companies could be downplaying risks from climate change on their bottom line and could take “appropriate action”, regulators said on … Read more

Australia’s Westpac vows to reduce lending to coal, oil companies

A pedestrian looks at his phone as he walks past a logo for Australia’s Westpac Banking Corp located outside a branch in central Sydney, Australia, November 5, 2018. REUTERS/David Gray Register now for FREE unlimited access to Reuters.com Register July 27 (Reuters) – Australia’s Westpac Banking Corp (WBC.AX) on Wednesday announced plans to reduce its … Read more

Ice business booms in baking Shanghai summer

SHANGHAI, July 26 (Reuters) – Soaring temperatures in China’s commercial capital Shanghai throughout July have made Ye Xiangxiang a busy man. The manager of the Shanghai’s Yuhu Ice Company Ltds. ice-making factory on the outskirts of the city, Ye says business in 2022 is double that of a normal year. “This year the weather is … Read more

US power companies face a supply-chain crisis this summer

June 29 (Reuters) – US power companies are facing supply crunches that may hamper their ability to keep the lights on as the nation heads into the heat of summer and the peak hurricane season. Extreme weather events such as storms, wildfires and drought are becoming more common in the United States. Consumer power use … Read more

Wildfires: Europe’s latest economic headache

Blazes damage forests and livelihoods across Europe Climate risks could wipe 4 pct off Europe’s GDP by 2030. Europe under pressure to prevent as well as douse fires Summer wildfires just a ‘preview’ of future, expert says. ATHENS, July 22 (Reuters) – When the blaze tore through a forest in Greece last August, swallowing up … Read more