Headline News:
- “Global Finance Pledge Could Mean $100 Trillion For The Climate” • Banks, insurers, pension funds, money managers, and others in finance signed up to tackle the climate crisis, swelling the ranks of a coalition led by former Bank of England governor Mark Carney. With a total $130 trillion in assets, the coalition has control of over 40% of global banking assets. [CNN]
Wind turbines (Dan Meyers, Unsplash)
- “190 Nations And Organisations Pledge To Quit Coal” • Major coal users including Poland, Vietnam, and Chile committed to shift away from the fossil fuel, in pledges made at the COP26 climate summit, the UK government says. Some 190 nations and organisations vowed to quit coal. But Australia, India, China, and the US, did not sign up to the pledge. [BBC]
- “Australian Fossil Fuel Projects Given $36.7 Billion In Foreign Public Financing Over A Decade” • Public financial institutions overseas, including export credit agencies, poured $36.7 billion into Australian fossil fuel projects over a decade, according to a report. That amount is eleven times as great as what was put into renewable energy. [The Guardian]
- “The Effort To Phase Out Fossil Fuels Gains Momentum At COP26” • The effort to phase out all fossil fuels is gaining momentum at the COP26 climate summit. At least 20 countries have agreed to end financing for fossil fuel projects abroad, a UK official told CNN. The deal goes beyond coal, to include ending financing for oil and natural gas. [CNN]
- “Rep Hoyer Introduces $9 Billion Bill To Meet Biden’s COP26 Deforestation Pledge” • After President Joe Biden entered the US into a global pledge at COP26 to end and reverse deforestation, House Majority Leader Steny Hoyer introduced a bill to put $9 billion behind Biden’s commitment. The bill would create a fund to help end deforestation globally. [CNN]
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