Climate Change Agreement

DEFINITION: A UK Government policy which provides a 90% discount for businesses within energy-intensive sectors that agree upon targets to improve their energy efficiency or reduce carbon emissions.

See also: Climate change

See also: Climate Change Act

 

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Oil taxes predictably emerged as the most substantially used financial tool, as they topped €50 per tCO2 on average

OECD urges countries to tax dirty energy

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Insurance companies are mindful of the danger that they could suffer a huge loss if their investments in fossil fuel companies were rendered worthless by action on climate change

Lloyd's of London to divest from coal over climate change

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Launched under the job-posting, “the best job for the world. Probably”, the community roles will target climate change mitigation and water scarcity solutions

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The announcements marks a big step towards Volvo’s vision of having climate-neutral global manufacturing operations by 2025. Photo: Volvo

Swedish engine plant becomes Volvo's first 'climate-neutral' site

Car giant Volvo's engine factory in Sweden has become the firm's first "climate-neutral" manufacturing plant after switching to renewable heating.

Rising populations and increased wealth in non-OECD nations will drive energy demand, which will offset emission reductions

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Clean Growth Strategy 'not enough' to meet UK's carbon targets, climate advisers warn

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Barclays updates green bonds to capture 'compelling' economic opportunity

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Commercial banks are also igniting signals that funding for fossil fuels with soon be a thing of the past

World Bank, major businesses and nations unite against coal funding

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EU announces €9bn in funding for climate action

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The white paper suggests that companies implement an internal “shadow price” – similar to an internal price on carbon - to account for future costs of meat

Meat tax 'increasingly probable' to help combat climate change

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Climate Action 100+: New investor initiative targets top 100 corporate emitters

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The statement calls on G20 nations to lead the transformation by “initiating and implementing” and “global paradigm shift” on an energy transition

Global companies call on nations to push for 'well-below' 2C Paris target

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The PCPF publicised 20% of its holdings for the first time in May 2017. In 2016, the PCPF invested £5.56m into BP and £4.9m into Shell

Corbyn backs MP pension divestment as business leaders call for improved climate disclosure

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Developed countries had pledged to raise $100 billion each year in climate finance for developing countries by 2020. However, as of September 2017, governments had pledged $10.3 billion

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The alliance will work by encouraging new commitments and using financing and shared technology and best practice to encourage others to phase out “unabated coal”

'Political watershed' as 19 countries pledge to phase out coal

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Defra claims that ratification of the Montreal Protocol will result in a reduction equivalent to around 44 million tonnes of carbon dioxide in the UK alone

UK ratifies the Kigali amendment on HFCs

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DAM can now integrate physical climate risk equity scores of companies within its investment portfolio

New investor partnership scores corporates on physical climate risk exposure

Deutsche Asset Management (DAM) has formed a new partnership with a US-based advisory to develop a first-of-its-kind climate risk service that calculates the physical climate risks of investor portfolios.

It estimates that 37bn tonnes of CO2 will be emitted from burning fossil fuels, the highest total ever

Fossil fuel burning set to hit record high in 2017, scientists warn

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Holyrood, Scotland. The country is cited as making great progress and being on track to meet its climate goals

Reports show businesses and regional governments making strong climate progress

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In the past five days at Bonn, influential and international businesses from a wide range of sectors have committed to shape a clean economy

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The North Face design wool beanie with carbon 'net-negative' production

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US representatives have still travelled to the latest round of climate negotiations in Bonn for COP23

US isolated as Syria signs the Paris Agreement

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Brown said that his goal is to create a global emissions trading system. Image: European Parliament

EU and California to discuss linking carbon markets

The EU and California are beginning talks to potentially create a common carbon market that could also include China.

This recent increase in average global temperatures confirms a renewed warming trend in recent years

2017 set to be one of top three hottest years on record

2017 is set to be one of the hottest three years on record, provisional data suggests, confirming yet again a warming trend that scientists say bears the fingerprints of human actions.

Businesses are also pushing to provide input into the Facilitative Dialogue, which outlines what increased ambitions will be issued as part of the next round of NDCs. Image: BMUB

Carbon price among policy wishlist issued by businesses at COP23

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Sustainability professionals will be keeping a close eye on developments in Germany in the next two weeks. Photo: UNclimatechange

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According to the WWC, €100bn will be needed annually to create adequate new water infrastructure, while a further €155bn will be required to improve current equipment

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The world is still reportedly investing over three times more in fossil fuels than renewables

High street banks still financing fossil fuel growth

The UK's high street banks are profiting from some of the world's dirtiest fossil fuel projects despite committing to deliver the Paris Agreement goals of limiting global warming to below 2C.

The IFC report, entitled Creating Markets for Climate Business, found that governments could work with businesses by fostering renewable energy as an alternative to fossil fuels

Huge private sector investment puts Paris climate target in reach, says report

At least one trillion dollars are being invested globally in ways to reduce the threat of climate change, including renewable power, energy efficiency, and public transport around the world.

A case was sent by BrewDog to the White House

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The report comes less than a week before delegates from almost 200 nations descend on the German city of Bonn to work on a detailed “rule book” for the Paris Agreement

Just 30% of top 250 firms have strong goals to curb emissions, research finds

Researchers have warned that only 30% of the world's top 250 listed companies have set strong goals to curb global warming, despite the group accounting for a third of all carbon emissions.

Not a single developed country has outlined a detailed plan to tackle livestock emissions as part of an Intended Nationally Determined Contribution (INDC) to the Paris Agreement

Put 'cows alongside cars' at COP23, investors urge

With COP23 set to start in Bonn next week, an investor network is calling on developed countries to prioritise the "elephant in the room" at the UN talks, by tackling livestock sector emissions.

The UN is calling for rapid technology investments in key sectors such as agriculture, buildings, energy, forestry, industry and transport

UN: World must act now to close 'unacceptable' emissions gap

As figures show that levels of CO2 in the atmosphere increased at record speed last year, a stark UN report has warned that there is an "unacceptable" gap between national pledges and the emissions reductions required to meet the Paris Agreement's climate targets.

Juniper said it was an “honour” to join WWF and help the organisation in its task to protect global biodiversity. Image: Eleanor Church

Tony Juniper takes on lead advocacy role at WWF

WWF has announced that prominent conservationist Tony Juniper has joined the green organisation as executive director for advocacy and campaigns.

The decarbonisation rate of the G20 is short of the 3% average rate required to reach national pledges to the Paris Agreement

G20 falls behind on national decarbonisation pledges

The UK is "strongly outperforming" the rest of G20 in decoupling emissions from economic growth, but businesses and governments have been warned that the goals of the Paris Agreement won't be achieved with current decarbonisation ambitions.

Claire Perry will personally chair a separate new CCS council with industry

Climate change minister pledges to 'break the deadlock' on CCS

Climate change minister Claire Perry is convening a taskforce next month to deliver carbon capture and storage plants more cost effectively.

In total 151 of the sampled companies have committed to the SBTI, compared to 94 last year

CDP: Science-based targets needed to 'pick up the pace' on corporate action

Emissions targets from large corporates are around one-third of the way to bringing the private sector on a trajectory to keep global warming below 2C, highlighting the need for more science-based targets, new analysis from CDP has found.

The food and agriculture industry loses an estimated €60bn annually, and in Europe alone, more than 250 million tonnes of food is wasted each year

Rabobank launches $1bn programme for food production practices

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Companies are under increasing pressure to disclose by investors worried that the next financial crash could be climate-related

KPMG: Three quarters of businesses not acknowledging climate-related risks

Despite investors ramping up the pressure on the corporate disclosure of climate-related risks, nearly three quarters of large and mid-cap companies don't acknowledge the financial risks of climate change in their annual financial reports.

The carbon credits can be purchased from a range of projects across Cambodia, China, Sudan, Ethiopia, Laos, Panama and Rwanda

The offset shop: Gold Standard offers 'one click' access to carbon credits

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The Carbon Trust's Hugh Jones outlines the climate impact that a 0.5C difference can make

Aim Higher: Business can 'pioneer' climate agenda by targeting 1.5C pathway

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CDP notes that nearly 500 companies are potentially vulnerable to the effects of carbon pricing regulation through their failure to internalise the cost into their business

CDP: Huge leap in multinationals adopting internal carbon price

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The whitepaper notes that food retailers should have installed 18,500 low GWP systems in 2015 alone

Report: European retailers behind schedule on HFC phase-out

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European lawmakers are exerting more political pressure as a number of important pieces of legislation make their way through various parts of the Brussels policymaking machine

MEPs urge EU to ratchet up climate ambitions ahead of UN summits

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Christiana Figueres recently launched the Mission 2020 campaign with an aim to

Christiana Figueres: Corporate leadership on climate change set to hit critical mass

Former UN climate change chief Christiana Figueres has expressed confidence that the amount of businesses taking a leading stance on the Paris Agreement goals will hit critical mass "pretty soon".

The new label will insure the renewable electricity is sourced from power generators and devices under a strict age limit

New energy certification label launched to unlock finance for renewable generation capacity

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The flat CO2 emissions in 2016 follow similar near-standstills in 2014 and 2015

Global carbon emissions stood still in 2016, offering climate hope

Global emissions of climate-warming carbon dioxide remained static in 2016, a welcome sign that the world is making at least some progress in the battle against global warming by halting the long-term rising trend.

WWF stresses that the Government would benefit from a stress testing approach and long-term plan for managing natural capital

WWF: UK could lose £35bn by 2050 through extreme weather

Researchers have warned that future droughts could dent the UK economy by around £35bn unless extreme weather scenarios are factored into governmental and business decisions.

The number of FTSE 100 companies actively reporting climate change as a risk to investors rose by 13 from last year

Majority of FTSE 100 firms not reporting on climate change risks

Almost two-thirds of FTSE 100 companies are "doing their shareholders a disservice" by not reporting on the risk of climate change in their annual reports, according to new research.

European Commissioner Miguel Arias Cañete is understood to be preparing to launch a public consultation with a view to updating the EU's low-carbon economy roadmap in 2018

EU to aim for 100% emission cuts in new 'mid-century roadmap'

The European Commission is preparing an update of its low-carbon economy roadmap for 2050, acknowledging that the bloc's current target of cutting greenhouse gas emissions at least 80% by mid-century are insufficient, edie's content partner EurActiv.com has learned.

Helen Clarkson believes that a competitive advantage can be gained by companies that sign up to global platforms such as the RE100 and EV100

The Climate Group: Boardrooms finally grasping business case of climate action

Amid a flurry of high-profile corporate sustainability commitments, the Climate Group's chief executive has told edie that improved boardroom understanding around the business case of climate action has enabled the low-carbon agenda to flourish.

The Lib Dems have launched a report that warns the UK is not on track to meet the goals of the Paris Agreement, which aims to limit global warming to 1.5C

Lib Dems propose 'carbon-free' Britain by 2050

The Liberal Democrats have urged the Government to bring forward the UK's climate targets by a decade as a new report suggests that the country is on course to miss the Paris Agreement objectives.

If fully implemented, then current pledges would see US greenhouse gas (GHG) emissions fall by up to 14% below 2005 levels by 2025, according to the research

Report: Existing business pledges keep US on track with Paris goals

The action of US states, cities and businesses could "significantly mitigate" the impact of the US decision to withdraw from the Paris Agreement, according to new research.

M&M’s has launched its Fans of Wind energy campaign, using the Red and Yellow M&M characters to act as advocates for renewable wind energy

Kimberly-Clark and Mars make fresh moves to champion renewables

Personal care firm Kimberly-Clark has secured its first deals to source renewable energy, in a move that will help the company surpass a carbon goal for years early, while food company Mars has used an iconic brand to promote renewables to consumers.

The investors are seeking information on how banks and senior executives are managing climate-related risks and opportunities

Investors implore banking firms to champion climate disclosure

More than 100 investors with $1.8trn under management have written to the chief executives of 60 of the world's largest banks, including HSBC and Bank of America, calling for better disclosure and implementation on climate risks in their investment portfolios.

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35 of the 50 most influential companies were found to be actively lobbying against climate policy, including companies in the fossil fuel value chain such as ExxonMobil, Valero Energy and Chevron

Research exposes top 35 firms lobbying against climate policy

Most of the globe's 50 most influential companies on climate change legislation are actively lobbying against ambitious decarbonisation policy, new research from a UK think tank has found.

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Many global food and drink companies have already started to replace fluorinated gases with climate-friendly and natural refrigerants

UK begins ratification of Kigali deal on HFCs

The UK has committed to nearly wipe out hydrofluorocarbons (HFCS) as part of a landmark UN agreement which aims to prevent 0.5C of global warming by the end of the century.

Leveraging the promoting power of one of the world’s biggest brands, M&M’s, Mars will call on consumers to champion renewable energy and combat climate change

Mars pledges $1bn to hit new sustainability targets

Global confectionary producer Mars has today unveiled a near-$1bn investment into a new sustainability action plan that uses science-based targets to "drastically expand" on previous carbon goals, as the company's chief executive Grant Reid called on the sector to fix "broken" global supply chains.

Schroders estimates the current global price to be roughly $1.60 a tonne of CO2e

Carbon tax could wipe out polluters' profits in pursuit of Paris targets

More than $1.5tn (£1.2tn) in company profits worldwide could be erased by taxes required to meet the Paris climate agreement, according to analysis by Schroders.

edie media pack

edie is an integrated, year-round resource providing thousands of energy, sustainability and resource efficiency professionals with the practical information, insight and intelligence they need to make their businesses more sustainable.

The bond will provide capital to be used to refinance SSE’s portfolio of onshore wind farms

SSE issues largest ever green bond by UK firm

The green finance market has been buoyed by news that British energy company SSE has issued the biggest ever green bond by a UK company.

The employers’ guide to smart meters and energy efficiency awareness at work and at home

This document provides guidance and materials for running an energy efficiency awareness campaign at work, including practical advice to employees on how they can benefit from getting a smart meter and saving energy at home.

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London Mayor Sadiq Khan launched his draft London Environment Strategy at Woodberry Wetlands in Hackney this morning. Photo: Sadiq Khan/facebook

Green groups praise Sadiq Khan's pledge to make London world's first National Park City

The Renewable Energy Association (REA), the Environmental Industries Commission (EIC) and the UK Green Building Council (UK-GBC) are among a host of organisations that have welcomed a new strategy from London Mayor Sadiq Khan which seeks to make the capital "greener, cleaner and ready for the future".

Nearly nine in ten Millennials surveyed (86%) are interested in sustainable investing, compared with three-quarters of individual investors overall (75%)

Millennials twice as likely to invest in green business, survey reveals

Millennials are driving global growth in sustainable investing, according to financial services firm Morgan Stanley, which has discovered that the younger generation are twice as likely to invest in companies targeting social or environmental goals.

Al Gore's film, An Inconvenient Truth, won an Oscar and helped make Gore co-winner of the Nobel peace prize in 2007

Al Gore: Trump has failed to knock Paris climate deal off course

Donald Trump has failed to knock the Paris climate agreement off course despite his efforts to derail it, according to the former US vice president Al Gore.

Activists protesting in Sydney in May against coal financing by the Commonwealth Bank. Photo: Kate Ausburn

World's first climate disclosure lawsuit to set 'important precedent' for businesses

Pressure is mounting on the private sector to consider climate change risk in annual reports after the world's first climate disclosure lawsuit was lodged today (8 August).

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Growing sustainability issues such as deforestation, soil erosion, biodiversity loss, fresh-water scarcity and the build-up of carbon emissions are all increasing stress on natural resources, according to  Global Footprint Network

Earth Overshoot Day: Humanity has exhausted all of 2017's natural resources

Humanity has already used up its entire annual budget of planetary resources such as water, soil and clean air on the earliest day of the year since the Earth first went into "overshoot" in the early 1970s, according to research organisation Global Footprint Network.

According to the University of Washington study, there is a 90% likelihood that temperatures will rise between 2C and 4.9C by 2100

Planet has just 5% chance of reaching Paris climate goal, study says

There is only a 5% chance that the Earth will avoid warming by at least 2C come the end of the century, according to new research that paints a sobering picture of the international effort to stem dangerous climate change.

Carbon Clear chief executive Mark Chadwick said that the expanded business would offer an “unparalleled” level of technical expertise and commercial knowledge

EcoAct Group takeover of Carbon Clear signals global 'climate leadership'

French climate finance project developer EcoAct Group has taken over London-based sustainability consultancy Carbon Clear in a bid to help businesses make a low-carbon shift on a global scale.

The Task Force calls on companies to promote senior management into the conversations surrounding disclosure and adopt scenario analysis

Global banks worth $7trn pledge support to TCFD climate disclosure guidelines

Eleven of the world's top banks, including Barclays and Santander, have jointly committed to adopt key elements of a new international framework which seeks to improve climate transparency in the financial industry.

All projects certified under the Gold Standard for the Global Goals will have to contribute to at least three SDGs, with the Climate Action goal being a mandatory requirement

New standard launched to certify business commitments to SDGs

A new standard was launched on Monday (10 July) to quantify, certify and maximise the business contributions to the development of climate change mitigation and other key targets listed by the UN's Sustainable Development Goals (SDGs).

CDP insists that the fossil fuel sector can decouple growth and emissions through investments in carbon capture and storage (CCS)

CDP: Only 100 firms account for more than 70% of global emissions

Just 100 major companies, such as Shell, ExxonMobil and BP, have caused 71% of global greenhouse gas (GHG) since 1988, according to new research from global disclosure organisation CDP.