The European Central Bank faces calls to toughen climate-risk penalties by expanding debt haircuts beyond corporate bonds to include banks heavily exposed to fossil fuels. The Anthropocene Fixed Income Institute argues that the ECB’s current plan lacks ambition and urges broader action that could significantly impact the cost of funding for environmental laggards. Bloomberg reports on the news.
UN negotiations to finalise the world’s first legally binding treaty on plastic pollution collapsed after three years of talks, with the U.S. resisting mandatory measures and petrostates blocking efforts to limit plastic production. Despite support from over 100 countries, the summit in Geneva ended in deadlock, highlighting deep divisions over how to tackle the global plastic crisis. The Financial Times covers the story.
