The Bank of England will carry out further study as it is not yet clear whether it needs to require banks and insurers to set aside longer-term capital buffers to provide for the consequences of climate change.
In the six months since passage of Biden's signature climate change law, a majority of the $50 billion of announced investments in domestic manufacturing to support the clean energy transition has been in states with laws that make it harder for workers to unionize.
Deutsche Bank on Thursday tightened its coal financing policies but has yet to change its criteria for the oil and gas industries, drawing criticism from climate activists.
Countries were far from agreeing the contours of a climate deal at the COP27 summit in Egypt on Wednesday, with the host country urging negotiators to resolve their differences ahead of a weekend deadline.
Climate change has led to an increased likelihood of high-intensity heavy rains and short-duration floods events as well as higher flood-related losses as a consequence, but insurance coverage has remained dangerously low.
As climate change accelerates and supply chain disruptions offer rich-world consumers an unaccustomed taste of scarcity, the theory of degrowth is becoming less taboo and some have started to ponder what a degrowth world might look like.
Global regulators published a detailed checklist for banks to assess how climate change affects all aspects of their business, including pay and capital, as economies set carbon reduction targets.
