Edition for 02 February 2020

Top Stories

ACCF earmarks fund to fight climate change in selected African countries (Ventures Africa)

  • The Africa Climate Change Fund (ACCF) recently approved $4.7 million for seven new project proposals that will build climate-resilience and low-carbon development across African countries.
  • Housed under the Climate Change and Green Growth Department of the African Development Bank (AfDB), these proposed projects will be carried out in African countries such as Mozambique, Sudan, Senegal, Benin, Lesotho, Uganda, and Kenya amongst others.
  • Also, the seven new projects are aligned with AfDB’s Strategy (2013-2022) and it’s (Climate Change Action Plan 2016-2020).

U.N. Human Rights Committee Issues Landmark Climate Migration Decision (Climate Law Blog)

  • A decision last week by the UN Human Rights Committee indicates that if climate impacts worsen in the future, countries may not return climate migrants to their home states where their right to life is threatened.
  • The decision represents a step forward since climate migrants currently fall outside the scope of international refugee law, and there is no governing framework for climate migration to fill that gap.
  • The story of the petitioner, Ioane Teitiota, is one of a climate migrant grasping at multiple legal straws in the absence of clear protective measures.

Environment figures in GCC investor plans (Gulf News)

  • They are asking their funds and businesses to keep ESG principles front and centre When teen environmental activist Greta Thunberg sailed into New York after a 3,000 mile trans-Atlantic voyage, it caught the attention of many in a way that previous environmental campaigning had not.
  • Markets too are undergoing their own step change in the way investors perceive companies and do business — not just from an environmental perspective but also in terms of how they interact with society and the ethical standards they apply.
  • Environmental, Social and Governance (ESG) criteria are increasingly being used by fund managers when selecting the companies and indices they plan to invest in.

January 2020 Updates to the Climate Case Charts (Climate Law Blog)

  • Each month, Arnold & Porter and the Sabin Center for Climate Change Law collect and summarize developments in climate-related litigation, which we also add to our U.S. and non-U.S. climate litigation charts.
  • Trial Court Ruled for Exxon in New York’s Climate Change Securities Fraud Case After a 12-day trial, a New York court found that the New York Office of the Attorney General failed to establish by a preponderance of the evidence that Exxon Mobil Corporation (Exxon) made any material misstatements or omissions that misled any reasonable investor about its practices or procedures for accounting for climate risk.
  • The federal district court for the District of Columbia ruled that the plaintiffs challenging President Trump’s “two for one” executive order had not established standing.
  • The executive order was issued in January 2017 and directed, among other things, that federal agencies identify at least two existing regulations to be repealed for every new regulation promulgated and offset any new incremental cost of a new regulation by eliminating costs associated with at least two prior regulations.

The Climate Sentinel is an AI-powered news assistant for ESG investors and those concerned about climate change, corporate social responsibility, and related topics. Learn more.

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