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Stakes are high in climate war as truth becomes the first casualty

Financial News
Companies and countries are focused on PR as they jostle to gain the green advantage
Santander wants to focus on ESG to turn the lender into one of the top European investment banks. That is a pretty punchy target
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Monday February 15, 2021 9:20 am
Forget trade wars and technology wars, the new battlefield for global domination will be climate change. Action to mitigate global warming will be the key to economic and political success with the outcome of the climate war determining which companies and countries emerge on top.
That is the conclusion of a report from Bank of America which argues that “climate strategies offer a route to global supremacy”. ....

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News Updates: Biden Plans Executive Orders to Undo Trump Policies

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President-elect Joe Biden is planning a flurry of executive orders after his inauguration to roll back some of the most contested policies of the Trump administration, incoming chief of staff Ron Klain said. Hours after he takes office, Biden will end Trump’s restriction on immigration from some majority-Muslim countries, rejoin the Paris climate agreement, and mandate mask-wearing on federal property and during travel. Those initial actions will be followed by a number of executive orders over the course of Biden’s first 10 days in office, including extending the pause on federal student-loan payments and other actions addressing issues like criminal justice, immigration, and climate change that can be taken without congressional approval. ....

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China's Coronavirus Outbreak Collides With Confusion Over Vaccine Efficacy

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China is facing the worst resurgence of the coronavirus since it quashed nearly all of its cases months ago, adding pressure to the rollout of vaccines to its vast population.
Amid this pressure is recent news from Brazil that a Chinese-developed vaccine showed significantly lower efficacy rate in very mild cases compared to its global peers.
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China’s Coronavirus Outbreak Collides With Confusion Over Vaccine Efficacy
China is facing the worst resurgence of the coronavirus since it quashed nearly all of its cases months ago, adding pressure to the rollout of vaccines to its vast population. ....

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Investors with $2.4tn assets push HSBC to cut coal investments

Financial News
Shareholders have filed a resolution to push HSBC to commit to cutting fossil fuel investments
HSBC has made no commitment to reduce funding for fossil fuels, in particular coal, which has risen every year since 2016
Sean Gallup/Getty Images
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Monday January 11, 2021 1:08 pm
Fifteen institutional investors with a combined $2.4tn under management have filed a climate change resolution with HSBC calling for the bank to publish targets for reducing its exposure to coal in line with the Paris climate goals.
The move has been coordinated by responsible investment NGO ShareAction with backing from investors including asset manager Amundi and hedge fund Man Group. ....

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EPA Raises Barriers to Climate-Change Rules

Jan. 12, 2021 3:56 pm ET
WASHINGTON The Environmental Protection Agency is creating higher barriers for regulating the emissions that contribute to climate change, setting new rules that effectively block the federal government from imposing new restrictions on several heavy industries.
The agency, which first introduced a proposal to create the higher bar in August, packaged these new standards in a rule making it issued Tuesday.
The rule, to be published in the Federal Register Wednesday, sets new criteria for what is considered a significant contributor of greenhouse-gas emissions.
In the rule the agency says that determination is required by law and finds that oil and gas producers, refiners, steelmakers and other heavy industries don’t meet the criteria, prohibiting the EPA from regulating their emissions under the Clean Air Act. ....

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