Global coal use is only increasing as the energy crisis in Europe persists and China significantly ramps up coal production and use to boost its economy.
The carbon dioxide levels in the atmosphere, one of the key pollutants responsible for trapping heat on the planet, recently surpassed a critical milestone of 50% higher than pre-industrial levels, reported PBS.
KraneShares recently hosted a virtual summit regarding the global carbon transformation that featured Professor Robert Engle, Nobel Laureate, professor of finance at the NYU Stern School of Business, co-director of the Volatility and Risk Institute at NYU Stern, and chair of the finance board for Climate Finance Partners (CLIFI), the subadvisor for the KraneShares Global Carbon Strategy ETF (KRBN).
Greenhouse gas emissions in the European Union dropped 11% in 2020 compared to 2019 levels, the biggest drop since 1990 and a downward trend that has extended over three decades, reported the European Environment Agency in a press release.