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Tag: fossil fuel
World Bank head calls for fossil fuel divestment to combat climate change
2014-01-28 01:00:00| Power Technology
World Bank president Jim Yong Kim has urged governments and business to consider bringing new policy reforms to withdraw funding from oil, gas and coal companies as well as fix a price on carbon to combat climate change.
Fossil fuel giants face climate stress test call at UN summit
2014-01-14 10:00:00| Climate Ark Climate Change & Global Warming Newsfeed
RTCC: The worlds 48 leading fossil fuel companies will be asked to run a 'climate stress test` at a summit hosted at UN Headquarters in New York on Wednesday. Fund managers and investors attending the meeting want oil and gas majors to assess how compatible their assets are with global efforts to avoid dangerous levels of warming. US low carbon business group CERES, which runs a network of investors worth $12 trillion, is organising this week`s event. Its chief Mindy Lubber told RTCC the financial...
Budget deal protects fossil fuel interests
2014-01-14 07:00:00| Climate Ark Climate Change & Global Warming Newsfeed
InsideClimate: The $1.1 trillion catch-all spending bill negotiated by Congressional leaders and published on Monday night shaves away at several of the Obama administration's climate priorities, propping up fossil fuels at the expense of clean energy programs. But the administration avoided devastating cuts to its agenda in the "omnibus" appropriations bill, a compromise between the Democrats who control the Senate and the Republicans who dominate the House of Representatives. The bill does not go as far toward...
Tags: deal
interests
budget
fuel
Fossil Fuel Investments Face Major Risks Due to Climate
2013-12-22 14:30:00| Climate Ark Climate Change & Global Warming Newsfeed
Climate News Network: The Asset Owners Disclosure Project (AODP) asked the world's thousand largest asset owners what they were doing to guard against the possibility that their investments in fossil fuels could, in future, become worthless. Together, the owners manage more than $70 trillion of funds. The Project found that only 27 of the 460 investment funds replying to its request are currently addressing climate risk at what it considers a responsible level. An investment in coal might prove worthless in the...
China: Fossil fuel companies under fire as Shanghai pollution soars
2013-12-10 01:06:00| Climate Ark Climate Change & Global Warming Newsfeed
BusinessGreen: Record high levels of air pollution in Shanghai late last week has been credited for forcing down share prices for coal companies at the same time as valuations for companies specialising in environmental protection. According to Bloomberg, China's biggest coal producer, Shenhua Energy, saw its share price drop last week, after one influential analyst predicted Shanghai's off-the-scale air pollution would deter fossil fuel investment. Yesterday, the company's share price continued its downward...
Tags: china
companies
fire
fuel
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