Most industries covered by the European Union's carbon market would see free credits cut by the highest possible rate over the next five years under draft plans, potentially costing some of the biggest polluters millions of euros.
Chubb Ltd will become the first U.S. insurer to phase out its coal investments and insurance policies, saying on Monday it will no longer sell insurance to or invest in companies that make more than 30% of their revenue from coal mining.
The European Commission sought to boost the flow of private money to tackle climate change on Tuesday by publishing guidelines on what qualifies as environmentally friendly investment, in a move welcomed by the financial industry.
Big investors must look beyond the clamour over climate change and compel companies to tackle modern slavery as well, the head of a United Nations-backed group pushing for responsible investment says.
U.S. Environmental Protection Agency chief Scott Pruitt said on Wednesday that he now has a legal fund in place to help him fight off a growing list of allegations related to his spending and reported ethical missteps.
Coral reefs, mangroves and even some fish could soon have their own insurance policies as the industry seeks new ways to boost protection for those affected by the ocean changes wrought by climate change.
