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Fri08182017

Last update09:04:58 AM GMT

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Climate Change

University of Oxford to identify 'stranded' high carbon assets

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altOne of the UK's leading universities will on Monday launch a new research programme aiming to help investors identify assets that could be left "stranded" by climate change, declining resources and the emergence of new green technologies.

Backed by HSBC, Aviva, WWF-UK and Climate Change Capital, the four-year University of Oxford research programme is attempting to flag up high-carbon sectors and assets that could be dramatically devalued or written off by the continuing shift towards a greener economy.

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John Kerry's confirmation as secretary of state delights climate campaigners

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altJohn Kerry's confirmation as secretary of state on Tuesday installs a veteran climate champion in a pole position for Barack Obama's second term.

Kerry, who describes himself as a "passionate advocate", sailed through his confirmation on Tuesday afternoon, a legacy of his nearly three decades in the Senate.

Now campaigners hope Kerry will help deliver a win on their signature issue: blocking the Keystone XL pipeline from the Alberta tar sands.

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Nicholas Stern: 'I got it wrong on climate change – it's far, far worse'

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altLord Stern, author of the government-commissioned review on climate change that became the reference work for politicians and green campaigners, now says he underestimated the risks, and should have been more "blunt" about the threat posed to the economy by rising temperatures.

In an interview at the World Economic Forum in Davos, Stern, who is now a crossbench peer, said: "Looking back, I underestimated the risks. The planet and the atmosphere seem to be absorbing less carbon than we expected, and emissions are rising pretty strongly. Some of the effects are coming through more quickly than we thought then."

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Nicholas Stern: 'I got it wrong on climate change – it's far, far worse'

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altLord Stern, author of the government-commissioned review on climate change that became the reference work for politicians and green campaigners, now says he underestimated the risks, and should have been more "blunt" about the threat posed to the economy by rising temperatures.

In an interview at the World Economic Forum in Davos, Stern, who is now a crossbench peer, said: "Looking back, I underestimated the risks. The planet and the atmosphere seem to be absorbing less carbon than we expected, and emissions are rising pretty strongly. Some of the effects are coming through more quickly than we thought then."

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EU carbon price crashes to record low

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altThe European Union's flagship climate policy, its emissions trading scheme (ETS), saw the price of carbon crash to a record low on Thursday after a vote in Brussels against a proposal to support the struggling market.

The price of a permit to emit a tonne of carbon dioxide fell 40% at one point to €2.81 today, far below its record high of €32, before recovering to more than €4 later in the day.

The ETS, aimed at reducing emissions from Europe's entire energy and industrial sectors, has been plagued by an oversupply of permits due in part to over-generous initial allocations following lobbying by industry.

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