Soaring demand for SUVs drove record sales for premium carmakers including BMW and Mercedes last year, leaving the industry on collision course with government efforts to tackle global warming despite big investments in electric vehicles. BMW said on Friday deliveries by its main luxury brand rose 2% to a record 2,168,516 vehicles last year, thanks to a 21% jump in sales of its "X" branded sport-utility vehicles (SUV) which now make up 44% of the BMW brand's global sales. At Mercedes
Tighter government climate regulations by 2025 could wipe up to $2.3 trillion off the value of companies in industries ranging from fossil fuel producers to agriculture and car makers, an investor group warned in a report. Rules aimed at lowering carbon emissions are expected to accelerate in the coming years as countries scramble to meet obligations under the 2015 Paris climate agreement limiting global warming. "As the realities of climate change catch up, social pressure mounts, and low car
Under pressure from environmental protests and growing support for the opposition Green party, the German government agreed Friday on a 54 billion euro ($60 billion) package of measures for tackling climate change. German Chancellor Angela Merkel said the deal hammered out by governing parties during marathon talks overnight would boost the country's contribution to fighting global warming. Europe's biggest economy aims to cut its greenhouse emissions by 55% by 2030 compared with 1990 levels.
While we generally hear about global warming and climate change from scientists, people involved in the financial world should also consider it a major economic issue facing all U.S. companies, according to an article by the Vermont State Treasurer. While the U.S. government declined to ratify the Kyoto Protocol, many U.S. companies have already responded to some of the challenges climate change is posing. Many global companies based in the U.S. have to join in carbon-reduction efforts to comply