Melbourne City councillors last night strengthened and unanimously backed a proposal to use its tendering procedures to quiz banks on their support for fossil fuels.
If the world acts to keep warming below two degrees, average international carbon prices are likely to be between US$50 and US$80 a tonne by 2030, says a new analysis from BHP Billiton.
The announcement of a new target should prompt a rethink of climate change policy measures, according to the energy industry (plus other target reactions).
After years of conflict, 10 leading industry associations and community organisations have issued joint principles that acknowledge the need for net zero emissions.
BP has acceded to shareholder demands for greater disclosure of its carbon risks, while an Australian super fund has backed efforts to secure a US investigation of reporting by Chevron and ExxonMobil.
Environmental activists have discovered a string of penalties against a company seeking to expand its WA mining operations, and say the issue calls into question the State Government's policy on publicising fines.
Banks and investors no longer automatically accept proponent and government assurances on environmental risk, and are now increasingly doing their own risk analysis on finance for major projects, according to the Investor Group on Climate Change.