With every flood, public anger over the climate crisis is surging | Gaby Hinsliff https://t.co/huXGf4jhX3— Guardian Environment (@guardianeco) February 22, 2020
Executives in polluting industries haven’t quite reached the nadir of bankers after the financial crash, cold-shouldered at school gates and berated in the street, but the more enlightened can see something similar coming if they’re not careful. When BP’s new chief executive, Bernard Looney, made his carbon neutral announcement, following a similar pledge from British Airways, one key factor cited was pressure from staff...
And if younger staff are making waves now, then the climate will be an even harder red line for the graduates these companies need to recruit in future. Two-thirds of American teens now think oil and gas companies create more problems in the world than they solve, according to a report from management consultants EY. Generation Z want to work for ethical companies that make them feel good about themselves, and increasingly see jobs that fuel climate change as morally suspect. Who wants to spend a first date plaintively explaining why working in Big Oil doesn’t make them a bad person?
UK companies face closer scrutiny on disclosing climate change risks https://t.co/PbVqWqhEHr via @financialtimes— Matthew Vincent (@MPJVincent) February 20, 2020
Companies and their auditors will be more closely scrutinised over how they report the impact of climate change, under a new push by the accounting watchdog to provide investors with greater transparency.
Ezra Zahabi, financial regulatory partner at law firm Akin Gump, said the move should benefit investors. She said the review would help in "raising the standard of sustainability data reported by companies, which is critical in order to meaningfully direct capital to sustainable businesses".
Meanwhile...
World's financial firms risk $1 trillion in losses if slow to act on climate change: report https://t.co/pBrzMDqneX pic.twitter.com/6MLn337dZw— Reuters (@Reuters) February 22, 2020
The report by consultants Oliver Wyman, published on Friday, comes as pressure on the industry to accelerate efforts to help better allocate capital in the shift to a low-carbon economy ratchets up ahead of United Nations climate talks in November in Glasgow, Scotland.
Meanwhile...
The human race could cease to exist without massive worldwide action to tackle global warming, economists at JP Morgan have warned https://t.co/7nHZVaBChj— The Telegraph (@Telegraph) February 21, 2020
In an alarming document sent to clients, they said that deaths, immigration and conflicts will soar as the planet heats and water supplies dry up. Famines will increase and species will be wiped out.
All this will have a devastating impact on economic growth and the stock market, the report's authors David Mackie and Jessica Murray said.
The impact of climate change has been massively underestimated, they said, adding: "Something will have to change at some point if the human race is going to survive."
We are happy to announce that Greta Thunberg will be joining us in Bristol on Friday for an impromptu #ClimateStrike! Meet us at College Green at 11am. https://t.co/hX8sy5ix6w— YouthStrike4Climate (@Strike4Youth) February 22, 2020
