One French lender financed no fossil fuels at all last year, while the world’s 65 largest banks pushed a decade of oil, gas, and coal lending past $8.7 trillion. The gap between the greenest banks and the rest of the global banking system is no longer a matter of degree.
A year of mass exits from voluntary climate coalitions redrew the map of climate leadership in banking, leaving a narrow field of European lenders and values-based institutions. The architecture governing climate commitments in global banking was assembled in a single year and dismantled in another. Between December 2024 and October
The Canadian pension giant’s expanded carbon reporting points to a broader shift among long-term investors: sustainability is moving beyond emissions targets toward assessing which companies can successfully navigate the economic transition. CPP Investments is changing how it evaluates the carbon characteristics of its global portfolio, introducing a framework that looks
Europe’s record-breaking summer heat is extending well beyond the continent’s cities and forests. From the Mediterranean to the Bay of Biscay and waters surrounding the British Isles, sea temperatures have climbed to extraordinary levels, with a new attribution analysis finding that human-caused climate change has sharply increased the intensity and
ULAANBAATAR: UNCCD COP17 has opened in Mongolia with a more consequential mandate than its relatively low global profile suggests: turn land restoration and drought commitments into finance, resilience and implementation. Running from August 17 to 28 under the theme “Restoring Land. Restoring Hope.”, COP17 brings together the Convention’s 197 Parties
Belgium is battling the largest wildfire in its recorded history, forcing hundreds from their homes and drawing emergency aerial support from European partners as an intense fire season tests the continent’s ability to respond to simultaneous climate disasters. The fire has burned roughly 3,000 hectares, about 30 square kilometers (11.6
Extreme heat and drought have pushed major European rivers to exceptionally low levels, forcing nuclear shutdowns and output cuts from Romania to France and highlighting a growing climate-resilience challenge for Europe’s electricity system. Europe’s prolonged heat and drought are putting the continent’s power system under mounting pressure, constraining nuclear generation
COP29 set the target. COP30 produced the roadmap. As governments turn toward COP31 in Türkiye, the unresolved challenge is how to turn a $1.3 trillion climate-finance ambition into capital that actually flows. At COP29 in Baku, governments agreed that developed countries would take the lead in mobilizing at least $300
More than 180,000 customers in and around San Juan face rotating water cuts as critically low reservoirs, extreme heat and longstanding weaknesses in Puerto Rico’s water system converge. SAN JUAN — Puerto Rico is beginning emergency water rationing Friday, placing more than 180,000 customers on rotating 48-hour service interruptions as
Insurers can absorb this summer’s losses. The larger question is whether rising wildfire risk will force Europe to rethink how governments, insurers and communities share the financial costs of climate disasters. Europe’s severe wildfire season is exposing a financial vulnerability that extends well beyond the communities in the path of
