climate change

Swiss bank stops investing on offshore Arctic projects

According to Reuters, the Swiss UBS Bank decided to stop providing its support concerning drilling in the Arctic. In fact, the bank will stop funding future offshore oil and gas projects located in Alaska, amid efforts to face climate change.

Hydrogen energy project to reduce CO2 emissions

According to BBC, the Keele University through its initiative, is boosting United Kingdom’s hydrogen revolution a step forward. Specifically, the University’s natural gas supply is being blended with 20% of hydrogen, reducing the CO2 amount that is being produced through heating or cooking.

BP leaves three trade associations not aligning with its climate policies

British oil major BP announced that it will leave three US-based organisations, following a review examining the alignment of their climate-related policies and activities with BP’s positions. This comes as BP unveiled ambition to become a net zero company by 2050, earlier this month. 

Amazon’s Bezos pledges $10 billion to fight climate change

Jeff Bezos, CEO of Amazon, the largest online retailer in the US and the second largest in the world, will commit $10 billion to fund scientists, activists, nonprofits and other groups fighting to counter the effects of climate change, as announced earlier in February.

JPMorgan Chase further commits to support clean energy transition

Following its two sustainability commitments in 2017, New York-based bank JPMorgan Chase announced additional steps to address climate change and further promote sustainable development. Among others, the bank committed to stop financing coal-fired power plants or oil and gas exploration projects in the Arctic.

JP Morgan economists alert of ‘catastrophic’ climate change

JP Morgan economist alerts that climate change will be catastrophic without actions being taken to improve the current situation of the environment, as climate change will severely impact economic growth, shares, health, and how long people live.

UK funds world’s most powerful weather and climate computer

The UK Government provided an £1.2 billion fund to develop a state-of-the-art “supercomputer” which will predict severe weather and the impacts of climate change fast and accurately and is said to be the world’s most advanced dedicated to weather and climate.

EU to discuss budget for climate emergency

Heads of state and government will meet on February 20, aiming to reach an agreement on the size and purpose of the next EU budget. The outcome should tell whether Europe is able to finance its transition to carbon neutrality.

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