Axa Investment Managers expands deforestation exclusions reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Liberty Mutual Weighing Options, Delays Australian Coal Mine Project
MELBOURNE U.S. insurer Liberty Mutual will not be filing an environmental impact assessment for a coal project in Australia, it said on Friday, missing a deadline as it weighs alternatives for the proposed mine.
Community groups worried about pollution and climate change have been pushing the company to scrap the project, which is expected to produce 5 million tonnes per year of a type of coal mostly used in steel-making but also suitable for power plants.
“As part of our investment processes, we’ve been evaluating alternatives for our Baralaba investment for some time and will not be submitting an environmental impact assessment for the South Mine at this stage,” a Liberty Mutual spokeswoman said.
Some of Turkey’s biggest banks are reluctant to finance President Recep Tayyip Erdogan’s planned Istanbul canal due to environmental concerns and the investment risks hanging over the massive construction project, four senior bankers told Reuters news agency.
Two of the sources said a global sustainability pact that six of Turkey’s top banks have signed was a barrier to funding the Kanal Istanbul, which Erdogan dubbed his “crazy project” when he floated it a decade ago.
The government expects to break ground in June on the canal, which would connect the Black Sea to the north with the Marmara Sea to the south and which would run 45km (28 miles) through marshland, farms and towns on the western edge of the city.
Investors BlackRock, Vanguard join net zero effort channelnewsasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from channelnewsasia.com Daily Mail and Mail on Sunday newspapers.