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Mark Carney, Governor of the BoE at the August 2013 Inflation Report Conference.

Mark Carney warns investors face ‘huge’ climate change losses

The governor of the Bank of England has thrown down the gauntlet to the fossil fuel industry with a blunt warning this week that investors face “potentially huge” losses from climate change action that could make vast reserves of oil, coal and gas “literally unburnable”. Later in the speech (text available here) Carney discussed the need for greater corporate carbon disclosure requirements: “Companies [should] disclose not only what they are emitting today, but how they plan their transition to the net-zero world of the future.”
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A majority of Republicans – including 54 per cent of self-described conservative Republicans – believe the world’s climate is changing and that mankind plays some role in the change, according to a new survey conducted by three prominent Republican pollsters. The survey was commissioned by Jay Faison, a businessman who calls himself a conservative Republican and has announced that he intends to spend millions on efforts to lobby Republicans to embrace the issue of climate change.
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Weaning the U.S. economy off fossil fuels will likely involve the wide deployment of utility-scale solar power. But for that to happen, the environmental community must resolve its conflict between clean energy advocates and those who regard solar farms as blights on the landscape. This will be no easy task.
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Australian mining magnate Andrew Forrest wants to put an end to human trafficking and forced labour. He’s one of dozens of billionaire philanthropists throwing private money at complex global problems, but it’s unclear whether such feel-good efforts help or hinder the work of public institutions.
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Advances in energy technology and the tightening of climate policy are accelerating our transition to a low-carbon economy. Assuming large energy companies were to sit down and develop a transition map – one that included a low-carbon, 2-degree scenario – what options might be in their plan, and could such a plan be designed to keep investors from running for the hills?
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Corporate Knights has compiled a list of the top 10 climate-friendly infrastructure projects in Canada, ranked by investment size. The list is dominated by multibillion-dollar hydro and transit projects, including the Muskrat Falls Project in Newfoundland & Labrador and the Eglinton Crosstown LRT project in Toronto. Notably, some of these projects have been highly controversial and carry with them legitimate concerns that need to be addressed.

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