Climate Change

U.S. House lawmakers laid out plans on Sunday to phase out key clean energy tax credits, as well as slash billions in spending related to electric vehicles and renewable energy, fast-track gas exports and claw back unspent climate-related funds as part of the Republicans' attempt to pass a multi-trillion-dollar budget to carry out President Donald Trump's agenda. The House Committee on Energy and Commerce has drafted a proposal that will be voted on on Tuesday. It would generate $6.5 billion by repealing climate-related portions of the massive Inflation Reduction Act legislation of the Biden Administration. The bill would repeal important...

JP Morgan has strengthened its green finance advisory and offering in Europe by appointing a new division leader to support clients on renewable energy and green technologies. An internal memo viewed by us on Thursday stated that the Wall Street lender promoted Kai-Christian Nerger into the newly created position of head of green economic banking for Europe in its global corporate banking division. Nerger has worked at JP Morgan more than 10 year and will now lead a team that helps the bank's European customers reduce their carbon emission levels, as well as benefiting from the growth opportunities available in...

Environmental groups have criticized comments made by the Tennessee Valley Authority's head, who said that the utility's coal-fired plants would continue to run after the planned 2035 shutdown. TVA's CEO Don Moul stated last week that TVA was evaluating the executive orders signed last month by President Donald Trump that sought to save coal plant that were likely to close, reduce regulations on coal plants and reduce barriers for coal mining. Moul, after a financial quarterly call last week, said: "We're re-evaluating our end-of life study on our coal fleet. We are also taking a close look at our asset...

Wildfire season in Canada has started. Officials from the province of British Columbia, located at the west-most tip of the country, have warned that the risk of fires will increase over the next few weeks. B.C. B.C. The warning stated that unseasonably dry, warm and windy weather conditions can create a high fire risk. The fire that was out of control on Friday spanned 56 ha (138 acres), and it was located just north of Fort St. John, in the northeastern part of the province. The fire forced some residents to evacuate the city on Thursday night, but they were...

Two major U.S. science associations called on Friday for submissions to a special compilation that would have fed the National Climate Assessment. This comprehensive report about climate change impacts in the United States was effectively cancelled by the Trump Administration. The American Geophysical Union, the largest association of Earth scientists and space scientists, and the American Meteorological Society, called for this research in an effort to "maintain momentum" with the sixth NCA whose 400 authors were fired by the Trump Administration last week. The two organizations stated that the new collection would not replace the NCA, but rather create a...

Three people who attended the meeting said that the board of the U.S. Export-Import Bank voted to reverse a long-standing restriction on lending for coal projects abroad. This reflects President Donald Trump's agenda, which calls for increased domestic coal mining and exports from the United States. The vote came less than one month after President Donald Trump issued an executive directive aimed at revitalizing the U.S. Coal Industry. This included a measure that directed Ex-Im to provide facilities for coal developers. The federal bank that finances overseas projects had tried to take climate change into account in its investment decisions...

The U.S. House of Representatives voted on Wednesday to revoke the Environmental Protection Agency’s approval of California’s plans for a growing number of zero emission heavy-duty trucks. The House also voted on repealing an EPA waiver granted in December by former president Joe Biden to California's "Omnibus", low-NOx regulations for heavy-duty highway vehicles and off-road engines. Separately, the U.S. House will vote on Thursday against California's historic plan to stop selling gasoline-only cars by 2035. This plan has already been adopted by eleven other states. The EPA granted a waiver for the plan under the Clean Air Act in December....

Global expansion of community-managed nature fund In four years, investments in communities have increased by 38% but are still small Community funds are looking for local priorities and a simpler bureaucracy By Andre Cabette Fabio Atelie Derequine Indigenous Fashion Collective, founded in 2020, produces masks against COVID-19. Models are dressed and take part in runways in Brazil's industrial city of Manaus. This fashion collective provides jobs for Indigenous people and is a platform to promote their rights. Vanda Witoto is the person responsible for mobilizing AtelieDerequine. She said, "We bring political awareness to the runways where we have raised banners...

Royal Bank of Canada announced on Tuesday it will abandon its sustainable financing goals. The bank cited recent changes in Canada's Competition Act that require companies prove their environmental claims. In its report on sustainability for 2024, published on Tuesday, Canada's largest lender stated that "we have reviewed our method and concluded that it might not have accurately measured certain of sustainable finance activities presented on a cumulative basis." RBC has committed to facilitate C$500 Billion ($361,19 billion) of sustainable financing by 2025. The refreshed climate strategy, it says, is "an action-oriented plan". The bank stated that the changes made...

According to an email sent on Monday, the administration of President Donald Trump has fired all contributors to a study that provides federal and local governments with information on how to prepare themselves for climate change. After the dismissal of almost 400 contributors for the six National Climate Assessment mandated by Congress in 2018, the future of this report is in question, as the peer-reviewed, multi-year analysis is due to be published in 2028. The email read: "At the moment, the scope of NCA6 is evaluated according to the Global Change Research Act of 1989," referring the legislation which kicked...

Foreign Ministers of BRICS Group of Developing Nations met on Monday, to discuss a common defense of the global trading system and coordinate their response to President Donald Trump's barrage of new duties. The group, which was formed by Brazil and Russia but has recently been expanded to include China, South Africa, India and South Africa, is expected to issue a joint statement in Rio de Janeiro criticizing the "unilateral trade measures" of this group. Brazilian Ambassador Mauricio lyrio stated that the ministers were negotiating a statement to reaffirm multilateral trade agreements as the primary axis for action in the...

Four sources who are familiar with the notification said that the Trump administration terminated federal employees responsible for U.S. climate policy, climate aid and global climate policy as part of a reorganization at the State Department. Career employees at the Office of Global Change in the State Department’s Bureau of Oceans and International Environmental and Scientific Affairs played a leading role in U.S. negotiation under the United Nations Framework Convention on Climate Change. The office's officials also represented the United States in the International Civil Aviation Organization, the International Maritime Organization and their respective sectors of commercial aviation and shipping....

The European Parliament has cleared the way for a rapid approval of EU CO2 emission targets for cars and vans, which will give automakers more time and reduce potential fines. European automakers warned that failing to meet existing targets this year could lead to fines up to 15 billion euro ($17.0 billion), as the goals depend on selling more electric cars, a segment in which they are behind their Chinese and U.S. competitors. After heavy lobbying by automakers, the European Commission has proposed that they meet their targets using the average emissions for the period of 2025-2027 rather than this...

Scientists said that climate change made the worst wildfires ever seen in South Korea twice as likely. They also warned that such disasters may become more common if temperatures rise. The fires that raged in the southeast of the country lasted for almost a week. They killed 32 people and destroyed around 5,000 structures before being brought under control at the end of March. The fires spread over 104,000 hectares (257,00 acres), which is nearly four times as much land as South Korea's worst fire season of 25 years ago. After combining observations with climate models, a 15-member team from...

According to a termsheet seen by, China has set final price guidance for green bonds with a three-year and five-year maturity to raise 825 million yuan. The term sheet stated that the price guidance for a three-year bond was 1.88%, and the price guide for a five-year tranche was 1.93%. The green bond issued by China's Ministry of Finance is the first of its type by China in an overseas market. The Chinese finance ministry was not immediately available for comment after regular business hours. According to a termsheet, the initial price guidance for Wednesday was that the bond would...

The bank announced on Wednesday that MUFG, a Japanese bank, has appointed its first Chief Sustainability Officer for Europe, Middle East and Africa to help clients become more sustainable. Stephen Jennings is a veteran energy and renewables financier with 24 years of experience. He will now be the chief sustainability officer for EMEA in addition to his existing roles as head of EMEA energy structured finance and head of EMEA sustainable business division. The appointment comes just weeks after MUFG resigned from a UN Climate Alliance that helped banks develop policies to reduce their carbon footprint. In recent months, the...

China will finalise the long-awaited global green sovereign bonds on Wednesday. This is expected to mark the beginning of a series that will increase its market share at a crucial time. The signal was sent to indicate that the vehicle was ready Last month Top Chinese Finance Ministry officials laid out the detail at a meeting in London with investors on Tuesday. The 6 billion yuan bond ($825 millions) is scheduled to be listed on the London Stock Exchange. Green bonds have grown to a market value of $3 trillion over the past few years. China's state-run firms have made...

The size of the wildfires raging across South Korea on Thursday doubled from the day before, with authorities calling the fires the worst natural disaster in the country. At least 26 people were killed and ancient temples destroyed. The largest fire that started in central Uiseong County has burned or is still burning more than 33,000 hectares (81,500 acres). This makes it the largest forest fire in South Korea history. The previous record for a fire in March 2000 was 24,000 ha (59,000 acres). Han Duck-soo, acting president of South Korea, told a government meeting that the rapid spread of...

Official data released in march showed that China's glacier areas have shrunk 26% due to global warming. 7,000 small glaciers have disappeared completely, and the glacial retreat has intensified in recent years. According to a UNESCO study, glaciers are disappearing more quickly than ever. The largest glacial mass losses on record occurred in the past three years. Environmental groups warn that the shrinking of important water towers will lead to a greater competition over water resources. The retreat of the glaciers also presents new disaster risks. China's glaciers can be found mainly in the north and west of the country....

Wildfires raged in the southeast region of South Korea on Tuesday. They threatened a World Heritage site and forced thousands more residents out of their homes. A city official and a text message alert informed residents of Andong's 150,000-strong population to move to safer areas. Officials said that the fire is currently located about 10 kilometers (6.21 miles), from Hahoe. Authorities designated counties affected as'special disaster areas'. Wildfires continue to burn in the region, causing death. Since Saturday, when fires broke out across several regions, fuelled by dry weather and strong winds, at least four people were killed and hundreds...

A study commissioned by WaterAid on Wednesday showed that the weather in many of the most densely-populated cities around the world is changing from droughts to flooding and back again, as rising temperatures disrupt the global water cycle. Researchers found that South and Southeast Asia are experiencing the most wet weather, while Europe and the Middle East, as well as North Africa, are getting drier. The study was based on 42 years' worth of data from over 100 of the largest cities in the world. Michael Singer, Water Research Institute at Cardiff University and one of the study's authors, said...

David Lammy, British Foreign Minister, said that Britain and the Philippines are committed to an international order based on rules. Lammy, on an official visit to the Philippines, said that both countries had stood together, supporting Ukraine, and promoting a free, open Indo-Pacific. Lammy and his Philippine counterpart said at a press conference that they were charting a course for their relationship in the face of global instability. They also emphasized that it was important to strengthen ties with other like-minded countries, such as the Philippines. The Philippines and Britain have signed a framework agreement for enhanced cooperation in multiple...

In a small workshop in Nuuk, the capital of Greenland, goldsmith Nadja Kreutzmann polishes stones and metals mined on this vast island rich in minerals. Her jewellery is decorated with Inuit symbols for life and survival. Indigenous identity in Greenland is resurging ahead of the March 11 general elections called by U.S. president Donald Trump after he said he wanted Greenland to be his. Trump's interest in Greenland has shaken up the status quo. This, coupled with growing Inuit pride has led to some locals viewing the vote as an historic opportunity to free Greenland of Danish influence. Greenland is...

By Joachim Klement March 4, 2019 - As the transatlantic alliance seems to be tearing apart, Europe must quickly devise a strategy to harness geopolitical power. China could be a good source of ideas on how Europe can achieve this. Enhancing defensive capabilities is the first step. China's military was modernised in the early 1990s by its leadership. World Bank estimates that Chinese defence spending grew from $12 billion in 1993, to approximately $296 billion by 2023. This represents an annual growth of more than 11% compared to the 3.5% average in the U.S. China has the largest naval force...