End fossil fuel subsidies, says CISL director
Sandrine Dixson-Declève, a director of the Cambridge University Institute for Sustainability Leadership (CISL), has called on European leaders to end fossil fuel subsidies and invest in renewables or face become increasingly uncompetitive.
Cutting the subsidies, that globally total $5.3 trillion a year, could reduce greenhouse gas emissions by 12%, according to Dixson-Declève.
"We believe that Europe is at a crossroads, either you create a competitive system that responds to energy security, but also to climate concerns, or you become increasingly uncompetitive," she said.
TFL and Unilever list bonds on LSE
Transport for London and Unilever have joined issuers like the International Finance Corporation and the Development Bank of Japan that have recently listed their bonds on the London Stock Exchange's (LSE) green bond segment.
Currently LSE's green bond segment has £3.2 billion ($4.84 billion) of notes listed, made up of 13 issues from six different issuers.
Climate Bond Initiative launches consultation on water standards
The Climate Bonds Initiative has launched a 60 day public consultation on its water climate bond standard, calling for comments from investors, industry and other stakeholders.
The standard is designed to help simplify the process of issuing climate aligned bonds where the proceeds are used in a water project. The standard will be revised, based on the feedback received, following the end of the consultation period in February.
EU report finds aviation and shipping emission reduction targets lagging
A new report by the European Parliament has found that greenhouse gas emissions from aviation and shipping could rise as a share of global emissions to 22% and 17%, respectively, if the emissions target of these sectors remain "unambitious".
The report concluded that a reduction in emissions from the sectors cannot be achieved by technological and operational improvements and will require action to either offset emissions or cut demand for international transport.
