More than 400,000 German car owners seeking compensation from the carmaker over emissions test cheating have signed up to a landmark collective lawsuit, which is the largest legal claim of its kind in modern German history. Volkswagen has already paid out more than €30bn around the world...
The Paris Agreement’s 2 °C objective requires that more than 80% of all proven fossil fuel reserves become stranded resources, and investments in such resources may become "stranded assets" for industrialized and developing countries. A ‘just transition’ for workers and communities as the world’s economy responds to...
A shocking report by PRI reveals that the financial market is very likely to incur in a new mortgage default crisis because of the climate change. In fact, the short sightedness of policy makers regarding climate change is increasing the likelihood of a market crisis. For...
Britain’s accountancy regulator Financial Reporting Council (FRC) will start soon to investigate the collapse of Thomas Cook. The investigation would likely focus on two Big Four audit firms, EY and PwC, in order to clarify their position and understand whether they have some responsibilities. EY and PwC declined any comment. For...
German authorities in Braunschweig have formalized the allegations of Volkswagen chief executive Herbert Diess, chairman Hans Dieter Poetsch and former CEO Martin Winterkorn of market manipulation in connection with the diesel emissions scandal that dates back to September 2015. The firm admitted in 2015 using illegal software to cheat...
Hedge funds are starting to face the increasing interest in responsible investing. According to the survey by BarclayHedge, a division of technology firm Backstop Solutions, four out of ten hedge fund managers now consider environmental, social and governance (ESG) ratings in their capital allocation decision. The reason...
The Anglo-Australian mining company Rio Tinto has signed a Memorandum of Understanding (MOU) with China's largest steel producer, China Baowu Steel Group. The MOU aims at developing ways to reduce carbon emissions released during steel manufacturing process. The partnership, signed on September 25, 2019, includes a collaboration with Tsinghua...
It is strategic to invest batteries in Europe, primarily for clean mobility and grid stabilisation, given the size of the EU’s automotive sector: 13.3m jobs, or 6.1% of the total workforce. This would also reduce the carbon footprint of producing electric cars in Europe, since it...
A group of 13 companies known as Oil and Gas Climate Initiative (OGCI) spoke out on Monday about the progresses they made in promoting investments in carbon capture, use and storage (CCUS). OGCI said it is ready to make investments. These, though, relies heavily on technology in order...
“We will not be dinosaurs,” –said Patrick Pouyanné, CEO of Total,-“We’re going to be the energy company of the future, I’m convinced.” On Monday few blocks away from the UN headquarter in New York, where 66 countries signed their intent to achieve zero carbon emission for...
Carlos Ghosn, former Nissan boss, has agreed on 23 September, 2019 to pay a fee of $1 million to the US Securities and Exchange Commission to settle the civil allegation of concealing compensation received from Nissan. Mr. Ghosn was arrested in Japan in November 2018 facing...
"Green-friendly ETFs hold shares in groups with coal operations" said Financial Times on September 19, 2019. The case for closer oversight of the ESG fund industry is the conclusion of the analysis conducted by the environmental research group InfluenceMap on a basket of 118 climate-themed funds listed...
Atlantia's share price in the last five years - Source: Borsa Italiana On Monday, Atlantia shares fell sharply as evidences of misconduct of two subsidiaries in the maintenance on Genoa bridge started to emerge. Alleged misconduct includes falsifying reports and / or excluding some key informations on the...
The FT has launched on Wednesday September 18, 2019 a new agenda under the simbolic title "Capitalism. Time for a reset." The famous FT editorialist Martin Wolf has written an extreemely interesting article on how 'rentier capitalism' is destroying the economy and capitalism itsself. Where...