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As the world rushes to combat the spread of the coronavirus, action against climate change has been pushed to the back burner.
But environmental experts say the massive economic stimulus required to respond to the pandemic also offers a once-in-a-lifetime opportunity to hasten the shift to a greener economy. This week, we dig into the economic impacts of moving toward green measures, and how the coronavirus could cause banks to accelerate their move away from fossil fuels as the price of oil plunges. Our Chart of the Week helps visualize the extent of European bank exposure to the oil and gas sector.
Chart of the Week
As climate focus wavers, advocates eye COVID-19 stimulus to boost green growth
Companies around the globe have shifted into crisis mode and governments worldwide are preparing to spend massive amounts of money to prop up the economy. Experts say this could represent a unique opportunity to increase renewable infrastructure and decarbonizing measures.
Oil price drop a 'real, live' climate stress test for banks
The fall in oil prices driven by a price war and the coronavirus shutdowns could be the trigger for the banking sector to more rapidly phase out fossil fuel financing, sustainable finance experts say.
Consumer brands' global worker army faces financial shock from lost orders
Millions of workers in countries including Bangladesh, India and Cambodia are facing financial peril as western consumer goods companies cancel orders and local factories are forced to close.
Indian, Brazilian cities lagging on green finance due to weak policy support
Coal methane emissions may rise even if global production declines
Feds increasing collateral required for coal companies to self-insure black lung
Realogy Holdings to cut CEO, executive salaries to stem coronavirus impact
BBC donates £700,000 to support UK TV, film workers
Miners warn social license at risk as new interstate restrictions expected
Investors managing $4.7 trillion detail corporate responsibilities amid COVID-19
Clear ESG disclosures key to tackling oil, gas investor concerns, advocates say
BP, activist investor group to jointly craft shareholder climate resolution
Barclays sets out new climate policy amid shareholder pressure
Water & Long-Term Value
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