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.
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.
Switzerland's right-wing Swiss People's Party will within a few days call a referendum aimed at blocking a draft law to cut greenhouse gas emissions, party officials said.
The Biden administration said on Monday it has approved conditional funding of up to $1.1 billion to prevent the closure of the Diablo Canyon nuclear power plant in California, as part of its effort to fight climate change.
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.
Namibia said at the COP27 summit on Tuesday that it had secured over 540 million euros ($544 million) in climate finance from the Dutch government and European Investment Bank.
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.
