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New EU sustainable finance rules: 'blunt instrument not silver bullet'

The new rules aim to encourage money managers to make sustainable investments and to prevent greenwashing. But how effective are they? ....

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Has the Biden summit jump-started climate action?

Has the Biden summit jump-started climate action?
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Biden's pledge to slash US emissions turns spotlight on China | Coal

Last modified on Fri 23 Apr 2021 14.22 EDT
The US, the worldâs second biggest emitter of greenhouse gases, is now committed to halving emissions this decade.
Joe Bidenâs announcement, at a White House virtual climate summit, has thrown the spotlight clearly on the worldâs biggest emitter: China.
China is responsible for roughly a quarter of global greenhouse gas emissions, and is likely to increase its carbon output this year. Without strong action from China, the world will be unable to hold back climate breakdown.
The country has a long-term target of reaching net zero emissions by 2060 but has yet to produce a national plan for its emissions this decade, as required under the 2015 Paris climate agreement. ....

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China 'can save $NZ 2.3 trillion by scrapping coal' - report

China can save up to $NZ 2.3 trillion over 20 years by switching from coal power to renewables, a report says.
Chimneys at a coal-fired power plant of China s electricity giant Huaneng Group in Tianjin, China
Photo: AFP
The authors say China must close 588 coal-fired power plants in a decade to meet climate pledges - but they insist the move will save cash.
That s because renewables are now so much cheaper than coal.
It mirrors the situation in the US, where coal tumbled from being the cheapest major fuel to the most expensive.
China is currently running 1,058 coal plants - more than half the world s capacity. ....

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