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Lloyd's of London said on Thursday it would join peers in scaling up efforts to cut carbon emissions and push members of the commercial insurance market to do the same, days before international climate talks get underway in Scotland.
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The British government said that Saudi petrochemical firm Saudi Basic Industries Corp (SABIC) would invest nearly 1 billion pounds ($1.37 billion) at its Teesside facility in northeast England with the aim of decarbonisation.
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The leaders of most of the world's biggest greenhouse gas emitters gather in Glasgow from Sunday, aiming to thrash out plans and funds to tilt the planet towards clean energy. But the man running the biggest of them all likely won't be there.
French lender Credit Mutuel Alliance Federale said on Tuesday it will stop financing new petrol and gas projects in a move to protect environment and curb climate change.
The effects of the climate change could lead to a major source of risks for banks exposed to them if environmental risks were not properly mitigated, European Central Bank (ECB) governing council member Pablo Hernandez de Cos said on Tuesday.