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130 banks holding US$47 trillion in assets commit to climate action and sustainability; 1/3 of global banking sector

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Leading banks and the United Nations on Sunday launched the Principles for Responsible Banking , with 130 banks collectively holding US$ 47 trillion in assets—one third of the global banking sector—signed up. The Principles create the accountability that can realize responsibility, and the ambition that can drive action.

Climate 236
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Group of 285 global investors with more than $20T in assets under management calls for urgent action on investment-grade climate change and energy policies; guidelines for governments

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Saying that “ investment-grade climate change and clean energy policy is required to shift private sector investment from high-carbon to low-carbon assets ”, a group of 285 investors has urged governments and international policy makers to take new and meaningful steps in the fight against climate change.

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Cummins to acquire Meritor in $3.7B deal

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Cummins has entered into a definitive agreement to acquire Meritor, a global leader of drivetrain, mobility, braking, aftermarket and electric powertrain solutions for commercial vehicle and industrial markets. Climate change is the existential crisis of our time and this acquisition accelerates our ability to address it.

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Plug Power, Chart Industries and Baker Hughes to become cornerstone investors in FiveT Hydrogen Fund; clean hydrogen at scale

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Plug Power, Chart Industries, Inc. Plug Power intends to commit €160 million ($200 million), and Chart Industries and Baker Hughes each intend to commit €50 million respectively ($60 million). The Fund will exclusively finance projects in the production, storage and distribution of clean hydrogen.

Hydrogen 170
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Deloitte forecasts clean hydrogen market to hit US$1.4T per year by 2050

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Demand is expected to initially build on the decarbonization of existing industrial uses of hydrogen (95 MtH 2 eq), most notably for fertilizer production. Decarbonizing current and developing new end-uses, it can abate up to 85 GtCO 2 eq in cumulative emissions by 2050, more than twice global CO 2 emissions in 2021.

Clean 429
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LSE report calls for global investment of an additional $3T each year to drive economic recovery and transformation

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The report indicates that “ the G7 will need to assist emerging market and developing countries in tackling their greater debt and finance constraints that have resulted from the pandemic, and embark on programmes of green recovery and transformation ”. The report says that $1.5-1.7 It suggests that $1.4

Global 170
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The $32-Trillion Push To Disrupt The Entire Oil Industry

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Global oil and gas companies are increasingly facing an uphill battle as global warming policies are taking their toll. Increased shareholder activism, combined with global warming policies of institutional investors and NGOs, are pushing IOCs in a corner, constricting financing options for oil companies.

Oil 231