A $20bn gigawatt solar farm, the world’s largest and if built will be visible from space, was granted major project status from the Morrison government in July with energy generated from the project to ultimately power Singapore.
A decade ago, Dong, or Danish Oil and Natural Gas, made the decision to transition to clean energy, and while many scoffed at the idea, Ørsted – as the company is now known – has a market capitalisation approaching that of oil titan BP’s.
Poland’s largest utility has said it wants to get rid of its coal assets and invest in renewables, becoming carbon neutral by 2050. By cutting coal loose, the company is aiming to generate 50% of its electricity from renewable sources by 2030 and 100% by 2050 – progressive steps toward a transition to clean energy.
The Investment Association (IA), which represents 250 members with £8.5tn in assets, is calling on the Financial Conduct Authority to make TCFD reporting mandatory for all 480 premium-listed FTSE companies. While the number of FTSE 100 companies claiming they have implemented the Task Force on Climate-related Financial Disclosures (TCFD) framework has more than doubled in the past year, to 77, the IA said just 53% had published reports covering all four of the key categories – climate governance, strategy, risk management, and metrics and targets.
The Australian Council of Superannuation Investors (ACSI) has published the finding in its annual benchmark analysis of disclosures by ASX 200 companies, which has looked at entities’ corporate reporting up to 31 March.
The analysis has indicated that the Task Force on Climate-related Financial Disclosures (TCFD) framework, first rolled out in 2017, has now become the most common benchmark for companies’ reporting in high-risk sectors.
Riskthinking.AI’s forward-looking scenarios align with the TCFD framework and help decision-makers disclose their climate-related financial risks.
With nearly 300 miles of coastline, the Hawaiian islands that make up Maui County face the threat of sea level rise from all sides. It’s that assault that has formed the foundation of a lawsuit Maui filed this week against 20 fossil fuel companies seeking compensation for the rising costs of climate change.
With the human and economic toll of climate change mounting, we can expect to see more of these kinds of suits come before the courts.
This web page from the National Snow and Ice Data Center contains two related visualizations and supporting information about them. The first visualization gives an estimate of the percent contribution to sea level change since the 1990s from three contributors – small glaciers and ice caps, the Greenland Ice Sheet and the Antarctic Ice Sheet. The second visualization shows the cumulative contribution to sea level from small glaciers and ice caps plotted with the annual global surface air temperature anomaly.
A new payload that Elon Musk’s SpaceX will deliver into orbit next month will play a pivotal role in measuring sea level increases, potentially helping to spare economies from billions of euros in damages by the end of this century
By some estimates, ice melt in the Antarctic is expected to push global sea levels up by 22.8 inches (58cm) by the end of the century if climate change goes on unchecked. Paired with ice melt in the northern polar circle, sea levels could rise by a staggering five feet (1.5m) by the year 2100. And yet, scientists in the US fear projections could be off, thanks to weather fluctuations that can have a significant impact on melting ice. Understanding the full range or distribution of projections for a risk factor like sea level rise, especially the tail ends, is part of what makes Riskthinking.AI’s scenarios so valuable.
Banks face intense competition for new generations of wealthy clients set to inherit huge sums from the world’s richest people — estimates range from $15 trillion to $68 trillion — and the future is clear: For the generations that will experience the worst impacts of climate change, it will be a simple decision to put their money in banks that profit from reducing warming and leave behind banks that continue to finance carbon-intensive energy.