The corporate backlash against net zero
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 2 December 2022
⏱️ 11 minutes
🧾️ Download transcript
Summary
Brussels is pushing EU member states to agree to a $60 ceiling on global purchases of Russian oil and emerging market stocks and bonds are staging a strong rebound. Plus, a push by the UN to tighten corporate rules around net-zero pledges is sending shudders through some boardrooms, and the world’s largest active volcano, Hawaii’s Mauna Loa, erupted this week after lying dormant for nearly 40 years.
Mentioned in this podcast:
Brussels seeks deal on $60 global price cap for Russian oil
Emerging market stocks and bonds stage powerful rebound rally
Get ready for a net zero business backlash
Boon for scientists as world’s biggest active volcano roars back to life
The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript
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| 0:00.0 | The FT News Briefing is supported by Equinole, the UK's energy partner. |
| 0:06.3 | Learn more at equinole.co.uk. |
| 0:09.9 | Good morning from the Financial Times. |
| 0:11.9 | Today is Friday, December 2nd, and this is your FT News Briefing. |
| 0:18.8 | Europe is moving towards a price cap for Russian oil. |
| 0:22.8 | Investors poured back into emerging markets and many of the world's global corporations |
| 0:29.2 | have plans to move toward net zero emissions. |
| 0:32.5 | But there is a backlash brewing. |
| 0:35.9 | I'm Sonia Hudson from ArcFilippino, and here's the news you need to start your day. |
| 0:45.6 | In just a few days, the European Union will ban Russian crude oil shipped by sea. |
| 0:51.8 | The December 5th deadline adds pressure on EU member states to agree on a global price cap for |
| 0:58.0 | Russian oil. The idea is to curb Moscow's oil revenues, which haven't been dented much by |
| 1:04.4 | Western sanctions so far. Yesterday, Brussels proposed a cap of $60 a barrel. |
| 1:10.7 | If member states agree, other G7 countries would have to go along with that price. |
| 1:16.4 | Russia will likely discuss a response with the Saudis and other oil producers at an OPEC meeting |
| 1:21.9 | on Sunday. |
| 1:28.5 | It has been an awful year for emerging markets. |
| 1:32.8 | The last month, investors had a change of heart. |
| 1:36.1 | They poured back into emerging market stocks and bonds. |
| 1:40.8 | JP Morgan's broad gauge of dollar-denominated emerging market debt |
| 1:45.2 | jumped more than seven and a half percent in November. |
| 1:48.7 | It's best month since 1998. |
... |
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