Big five’s banking monopoly at risk, with 2.4m closing accounts in 2012
The market share of Britain’s biggest five banks dropped 5 percentage points in 2012, as 2.4 million customers closed their high street accounts in favour of alternative options, according to new data. Campaign group Move Your Money, which revealed the statistics at an event at St Paul’s Cathedral on...
Ofgem calls for level playing fields in energy markets
Energy watchdog Ofgem has proposed measures to level out the market so that smaller and independent suppliers can actually compete with the ‘big six’. It says that the market’s dominating six firms – Centrica (British Gas), E.ON, SSE, Npower, EDF and Scottish Power – should post the prices at...
Renewable Energy Association set to raise curtain on new chief exec
The Renewable Energy Association (REA) – the trade body for the renewables industry – will unveil chief executive Gaynor Hartnell’s replacement at its annual awards dinner on Thursday evening, Blue & Green Tomorrow can reveal. Hartnell, who was formerly head of policy, replaced Philip Wolfe as head of the...
Barclays and MSCI launch cluster of sustainable investment indices
Barclays and global indexing firm MSCI have co-launched a series of fixed income indices that they say will help “stimulate” the growth of sustainable investment. The pair says that the more than 500 indices, which fall under three broad categories, are the first benchmarks to incorporate environmental, social and...
UK urged to capitalise on wind power opportunities before Europe
The UK has a “once in a generation” opportunity to attract investment and create jobs in the wind energy sector because of increasing demand, according to trade body RenewableUK and energy minister Michael Fallon. Building an Industry, the study by RenewableUK and the Crown Estate, the UK’s sixth largest...
Most transparent pension funds honoured at responsible investment event
Dutch pension fund PFZW and the UK-based Environment Agency Active Pension Fund have scooped global awards for excellence in responsible investment reporting. The pair were honoured at the RI Reporting Awards, organised by Responsible Investor magazine, at a ceremony in London on Tuesday evening. PFZW – which stands for...
People love brands – but wouldn’t care if 73% disappear tomorrow
Only 20% of brands are considered to have a positive impact on people’s lives, but these names financially outperform their non-impactful peers, according to a study by Havas Media Group. The Meaningful Brands project, which seeks to analyse how big brands affect people’s wellbeing, also found that the public...
Switching to a ‘circular’ economy will unlock crucial investment
Improvements in waste recycling and resource management can help boost the UK’s GDP and create thousands of new jobs, according to a new report. Going for Growth, by the Environmental Services Association (ESA) and the Waste and Resources Action Programme (WRAP), suggests that countries should focus on improving the...
Customers urged to ditch Lloyds after bank admits ‘issues’ with PPI claims
Lloyds Banking Group has admitted there were “issues” with the way some of its employees were handling complaints over payment protection insurance (PPI), with banking campaigners urging customers to seek alternatives. An undercover investigation by a Times reporter found that call centre staff at Royal Mint Court in central...
Government seeks to maximise profits from ‘dirty’ oil and gas
The government has announced it will commission an independent review into maximising growth of the fossil fuels industry – a move that has been slammed by campaigners. The review, announced by the Department of Energy and Climate Change (DECC), will be led by long-time oil executive Sir Ian Wood,...
IEA lays out four strategies to tackle CO2 emissions
Governments should focus on energy efficiency and the phasing-out of fossil fuels in order to keep temperatures within 2C warming and limit the financial implications of climate change, according to a new study. Redrawing the Energy-Climate Map, by the International Energy Agency (IEA), suggests that much action is needed...
Manchester Met ranked greenest uni – but only 8 score full marks for ethical investment
Manchester Metropolitan University (MMU) has been confirmed as the UK’s greenest university, after topping the 2013 People & Planet Green League– and is one of very few to have an ethical investment policy. MMU gained the top spot thanks to “steady progress and improvement in environmental and ethical performance...
Energy committee chair Tim Yeo MP steps aside as lobbying claims unfold
Conservative MP Tim Yeo, who recently led a campaign to include a decarbonisation target in the energy bill, has temporarily stood aside as chair of the energy select committee, amid accusations of illegal lobbying. Yeo, who strongly rejects the claims, is alleged to have briefed an energy firm, with...
Community share offer launched for tidal lagoon project in Wales
Investors are being urged to help “change the balance of the UK’s energy mix” by pledging money towards a pioneering tidal lagoon in Swansea Bay, which has launched a community share offer. The project, which hopes to begin generating power for 120,000 local Welsh homes by 2017, is inviting...
US and China to co-operate in tackling greenhouse gas emissions
The world’s two largest emitters of greenhouse gases have committed to working with one another in an effort to reduce their combined contribution to climate change – a move that has been welcomed by the UN Environment Programme (UNEP). US president Barack Obama and Chinese leader Xi Jinping have...
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