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

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

EU countries consider options to avoid carbon market fundraising plan

Smoke billows from the chimneys of Belchatow Power Station, Europe’s biggest coal-fired power plant, in this May 7, 2009 file photo. REUTERS/Peter Andrews Register now for FREE unlimited access to Reuters.com Register BRUSSELS, July 14 (Reuters) – European Union countries are considering alternatives to an EU plan to use a carbon market reserve to help … Read more

Supreme Court ruling casts cloud over US leadership in global climate fight

UNITED NATIONS, June 30 (Reuters) – A Supreme Court ruling on Thursday limiting Washington’s authority to reduce carbon output from power plants will hurt global efforts to fight climate change by slowing America’s emissions cuts and undermining US leadership efforts on the international stage, according to diplomats. The conservative court’s 6-3 ruling, the latest in … Read more