Europe’s effort to wean its economy off Russian gas is likely to be a persistent boost to inflation even beyond the current spike, European Central Bank board member Isabel Schnabel says.
Banks in southern Europe are set to be among the hardest hit if climate change is not mitigated as their clients are most exposed to natural hazards such as wildfires, a European Central Bank study shows.
Cutting planet-warming emissions to "net zero" by 2050 could lift growth and employment but would require an inflation-boosting $160 per tonne carbon price by the end of the decade, an umbrella group of the world's top central banks say.
The world needs to restore nature on land areas equivalent to the size of China by 2030 if it is to feed a fast-growing population, curb pollution, halt species loss and meet global goals to tackle climate change, U.N. agencies say.
Recent climate trends and models suggest cool, wet and windy conditions across northern and western Europe and hot and dry conditions in southern-eastern Europe.
This year's United Nations climate summit in Glasgow, Scotland must kick-start a decade of action to address the environmental crisis, U.S. climate change envoy John Kerry said on Tuesday during a visit to European Union headquarters in Brussels.
The Biden Administration says it will consider carbon border adjustment taxes to help cut greenhouse gas emissions in global trade and intends to pursue "strengthened enforcement" to ensure that China lives up to existing trade obligations.
