Asset manager Ninety One said on Wednesday it had launched a new index to better track emerging market countries' alignment with global climate goals. The pace of transition to a lower-carbon economy in many of the countries across Africa, Asia and Latin America is set to dominate the COP26 talks, with richer nations being urged to give more financial help to their poorer peers.
Nearly half of the 100 biggest companies listed on Britain's FTSE Index have no net-zero target at all and just 23 have a scientifically approved plan, according to ESG investment research and asset manager Arabesque.
Banks are demanding much stricter environmental criteria when financing shipping companies as investor pressure grows on the sector to accelerate going greener, according to Boston Consulting Group. Shipping, which transports about 90% of world trade, accounts for nearly 3% of the world's CO2 emissions and BCG forecast the industry will need $2.4 trillion to achieve net-zero emissions by 2050.
Abu Dhabi's new technology hub says it has seen a surge in interest from start-up firms in the United Arab Emirates and abroad despite the economic impact of the coronavirus pandemic last year, amid increased optimism from the sector.
Copper prices marched higher on Tuesday as industrial users sought material from declining inventories while speculative buyers also piled in. Three-month copper on the London Metal Exchange had climbed 1.3% to $10,323 a tonne by 1015 GMT, while the most-traded November copper contract on the Shanghai Futures Exchange closed up with a 0.2% gain at 75,810 yuan a tonne.
Copper prices rose on Tuesday, buoyed by decades-low supplies and an extreme shortage of readily available metal in exchange warehouses. Three-month copper on the London Metal Exchange rose 1.3% to $10,325 a tonne by 0531 GMT, while the most-traded November copper contract on the Shanghai Futures Exchange was almost unchanged at 75,620 yuan a tonne.
Stocks surged globally on Friday in their best day in five months as strong U.S. corporate earnings reports fueled optimism about the economy, though three-year-high oil prices kept inflation risks alive and lifted government bond yields.
Emerging market economies need $1 trillion a year of public and private finance in order to transition to a low-carbon economy in the fight against climate change, a report from asset manager BlackRock (BLK) said.
JPMorgan Chase & Co (JPM) beat analysts' profit estimates on Wednesday, thanks to record revenue in some investment banking businesses and a sunnier economic outlook that allowed the largest U.S. bank to release money it had set aside for potential loan losses during the coronavirus pandemic.
-JPMorgan Chase & Co (JPM) beat analysts' profit estimates on Wednesday, thanks to record revenue in some investment banking businesses and a sunnier economic outlook that allowed the largest U.S. bank to release money it had set aside for potential loan losses during the coronavirus pandemic.
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