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Shouldn’t we be doing more to respond to the climate emergency? It’s a natural question to ask. But, perhaps, we should turn the question around, and ask: why haven’t we solved the climate change problem already? Economics suggests a ready answer: externalities. Unfortunately, the concept of externalities is a century old, and it shows. So…
This article is an on-site version of our Moral Money newsletter. Sign up here to get the newsletter sent straight to your inbox. Visit our Moral Money hub for all the latest ESG news, opinion and analysis from around the FT With Climate Week in full swing, FT coverage has been shaking up the conversation…
Banks take hugely varying approaches in their commitments to tackling climate change. But there’s at least one point of consensus. You have to be seen to be taking it seriously. A talk entitled “why investors need not worry about climate risk” from an HSBC executive hints at disharmony in the ranks. Predictably, HSBC has moved…
As a teenager, one of my favourite films was the schlocky 2004 Hollywood eco-thriller The Day After Tomorrow directed by Roland Emmerich. The film follows a brave (and hunky) paleoclimatologist Jack Hall, played by Dennis Quaid, as he tries to warn the government that climate change could bring about a global ice age. No one…
Call it the everything strategy. The UK is working up a new energy plan, prompted by Russia’s invasion of Ukraine and soaring oil and gas prices, that seems likely to include just about everything. That’s no bad thing. Discussions of energy and the net zero transition are fraught, even among believers: try mediating between the…
This article is an on-site version of our Moral Money newsletter. Sign up here to get the newsletter sent straight to your inbox. Visit our Moral Money hub for all the latest ESG news, opinion and analysis from around the FT Since its inception, the World Economic Forum here in Davos has been widely seen…
The world’s second-largest asset manager Vanguard has refused to stop new investments in fossil fuel projects and end its support for coal, oil and gas production. Chief executive Tim Buckley said the group, which manages $8.1tn for more than 30mn investors and is the largest investor in coal companies globally, was determined to safeguard its…
The surge by the world’s largest petrochemical and oil companies into plastic recycling as an industry “plan B” is in question, after a historic UN agreement to negotiate a legally binding treaty to tackle plastic pollution. Despite extensive lobbying efforts to narrow the proposal to deal with plastic waste management, the treaty signed by 175…
Competition to secure experts in sustainable investing has led to a battle for talent that is driving bidding contests by fund managers and pushing salaries up by half for top hires. Head hunters and executives say competition is so intense that people are fielding multiple job offers, on top of concerted efforts by current employers…
Not that long ago, anyone in a bookshop looking for something about climate change would head for the science shelves. Things have changed. As a new batch of titles shows, climate writers can now be found in all sorts of sections, from economics to sport, philosophy and children’s books. The hunger for fast, effective policy…