G7 promises help for poor nations

Industrialised G7 countries agreed to provide $100 billion dollars each year to help poor countries fight global warming and to eliminate carbon emissions by 2050. The plan to provide $100 billion was first announced back in 2009, but has yet to be carried out.

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No more coal financing for HSBC

Major international bank HSBC will no longer provide financing for the coal industry. The bank’s shareholders approved plans for a gradual withdrawal from financing the sector in developed countries by the end of the decade. By 2040, the bank will cease all investment in the coal industry world-wide.

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