UN campaign toughens standards for greenhouse gas emissions

A UN-backed campaign to drive faster climate action is toughening the minimum standards for companies pledging to cut greenhouse gas emissions, including a requirement for businesses and banks to curb new fossil fuel projects.

The updated criteria issued yesterday by the 'Race to Zero' campaign will be reflected in the obligations of partner organisations, from banks to insurers and asset managers.

The new rules follow a period of consultation between more than 200 independent experts and will affect...