The majority of younger investors say sustainable investing is “important” to them in 2022, as household energy bills are set to rise by almost HALF from next month. Meanwhile, Denmark has vowed to make all internal flights “completely green” by the end of the decade, leading conservation charities have made an urgent plea to Boris Johnson for green New Year resolutions, and climate change is to expand the reach of hurricanes to populated cities including New York and Beijing. It’s the Good With Money weekly newsbrief.
Younger generation leads in sustainable investing
The majority (60 per cent) of younger investors say sustainable investing is “important” to them compared to less than a third (30 per cent) of those aged over 55, a new survey reveals.
The poll of more than 800 UK-based investors, all of whom have investments worth in excess of £10,000, excluding their property, savings and pensions, found that overall, less than half (45 per cent) consider sustainable investing to be a priority in their portfolio management.
When asked about their investment strategies for the coming year, 52 per cent of investors aged 18 to 34 told trading broker HYCM that they plan to invest in more sustainable assets under management, in contrast to only 12 per cent of over 55s.
Energy bills to rise by HALF – forcing ‘eat or heat’ dilemma
Households can expect their energy bills to rise by almost half this year, forcing some to choose whether to heat their homes or eat.
According to energy sector specialist Cornwall Insight, bills could rise from £1,277 a year under the current price cap to £1,865 a year when the next revision is announced in February – a rise of 46 per cent.
They also predict it could spike to £2,240 a year at the following quarterly revaluation in August 2022 without a significant fall in energy prices globally.
Money Saving Expert founder Martin Lewis says the Government must intervene now to avoid a crisis in the energy market. He said: “This year is going to be a very tough year for many people. The energy price crisis needs substantial intervention from the Government. We are going to see a minimum 50 per cent increase in energy prices in the system and that is unsustainable for many.”
Denmark vows to make internal flights ‘completely green’ by 2030
The Danish government has vowed to make all internal flights “completely green” by the end of the decade.
It comes amid a wave of pledges and action aimed at making air travel – an industry responsible for around two per cent of all global CO2 emissions – more climate-friendly. Sweden also recently set a target for fossil fuel free domestic air travel by 2030.
Mette Frederiksen, the Danish prime minister, announced new targets in her New Year’s speech and set a goal for all travellers to have the option to “fly green” on domestic trips by 2025. “By 2030 at the latest, we must be able to fly completely green when we fly domestically in Denmark,” she said.
Charities call on Boris Johnson for green New Year resolutions
Leading conservation charities have written to the prime minister urging him to make a series of new year’s resolutions to tackle the nature and climate crises.
The National Trust, RSPB, Woodland Trust and the Wildlife Trusts have joined forces to call for urgent action from Boris Johnson that builds on the promises made at the COP26 conference in Glasgow.
They have written to the government asking for seven urgent commitments to be made this year. They focus on protecting and restoring peatlands, paying farmers to restore nature, and additional measures to protect marine environments.
They are also calling for an immediate ban on the use of peat for horticultural purposes in the professional and amateur sectors, and a ban on burning upland peat.
Hurricanes to hit populated cities due to climate change
Climate change will expand the reach of tropical cyclones to populated cities and put millions more people at risk, a new study shows.
At present, these cyclones – or hurricanes, as they are also known – are mainly confined to the tropical regions north and south of the equator. But researchers now say that rising temperatures will allow these weather events to form in the mid-latitudes.
This area includes cities such as New York, Beijing, Boston and Tokyo. The study has been published in the journal Nature Geoscience. The scientists involved say their work shows by the end of this century, cyclones will likely occur over a wider range than they have for three million years.