Wednesday briefing: ‘Fail to adjust, fail to exist’climate warning to banks

Mark Carney leads call for greening of financial system rebuilding Notre Dame after the fire and Tim Dowlings week off from Google

Top story: Carney missive as Extinction Rebellion ramps up

Hello, Im Warren Murray, and I hope this day finds you well.

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The global financial system faces an existential threat from climate change and must take urgent steps to reform, the governors of the Bank of England and Frances central bank warn in the Guardian today. If some companies and industries fail to adjust to this new world, they will fail to exist, say Mark Carney and Villeroy de Galhau, whose open letter accompanies the launch of a report from the Network for Greening the Financial System. The NGFS was formed to be the core of the response of central banks and supervisors to climate change. Threadneedle Street has warned that banks could find themselves entangled with assets that turn out to be worthless because they are reliant on burning fossil fuels.

Meanwhile, Extinction Rebellion protests continue. Activists in London plan to disrupt rail and tube lines today. Police say they have made 209 arrests related to demonstrations that have caused delays and diversions around several landmarks. In Scotland more than 1,000 protesters blockaded the North Bridge in Edinburgh on Tuesday. The events are part of an international climate rebellion. Extinction Rebellion is calling on the UK government to reduce carbon emissions to zero by 2025 and establish a citizens assembly to devise an emergency plan to tackle climate breakdown and biodiversity loss.


How to save Notre Dame The roofs completely gone and there is damage to the vaulting, which does concern me, but the rest of it is repairable. There are people who can do it. The verdict on Notre Dame cathedral from John David, master stonemason at York Minster, which was similarly devastated by fire on 9 July 1984. More than 650m (562m) was raised in a few hours on Tuesday as French tycoons and global corporations announced they would donate to the restoration campaign launched by the president, Emmanuel Macron.

Play Video
0:43

Inside Notre Dame as fire swept through cathedral – video

Details have emerged of how the fire started at the base of the 93-metre spire at about 6.40pm on Monday and spread through the cathedrals ribbed roof, made up of hundreds of oak beams, some dating back to the 13th century. The 500 firefighters at the scene stopped flames reaching the two belfry towers and their enormous bells that could have fallen down, bringing the towers with them. The cathedrals Great Organ constructed in the 1730s is said to have been water-damaged but unburned, and inspections suggest the three stained glass rose windows survived. Relics including the Crown of Thorns and Saint Louiss tunic are being held at the Htel de Ville, while smoke-damaged artworks will be taken to the Louvre for restoration and storage. Sixteen copper statues from the spire of the 12 apostles and four evangelists had been removed for restoration a few days before the fire, but relics at the top of the spire are believed lost after its collapse.


Midweek catch-up

> Around 193 million people are voting in Indonesias biggest ever election to choose a president and more than 20,000 legislators. The main bill is incumbent Joko Jokowi Widodo versus ex-general Prabowo Subianto for the top job.

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> Satellite images show that North Koreas main nuclear site might be making radioactive material for bombs again, a US thinktank has reported. It underscores the stalling of efforts by Donald Trump to get Kim Jong-un to abandon nuclear weapons.

> Criminal records from a persons youth should not always be available to employers, Sajid Javid, the home secretary, has said. It could be twice they shoplifted when they were 11 and 12 or something, that record can linger for years and years I think we need to be sensible and look again at issues like this.

> Light pollution means more than half of people in England struggle to see more than 10 stars in Orion. The Campaign to Protect Rural England (CPRE) says the result of its star count show how the night sky is lost under a veil of artificial light for many.


Corbyn pessimistic over talks Jeremy Corbyn has said Brexit negotiations with the government are stalling because influential Tories want to turn this country into a deregulated, low-tax society which will do a deal with Trump. Corbyn suggested it would be better to let parliament decide via binding indicative votes. In our series Brexit: How it came to this, political editor Heather Stewart today tells the inside story of key moments where the partys stance on Brexit has evolved, amid a hard-fought political tug of war between two contending visions: Labours customs-union Brexit with protections for workers rights and the environment; and a public vote to throw out the 2016 referendum result.


Red meat flag Even sticking to official limits on eating red or processed meats may not reduce risk of bowel cancer. The health department suggests 70g or less a day, but a study has found people eating roughly that amount have a 20% increased risk, compared with those who averaged 21g a day. And shockingly, a cooked breakfast with two typical British sausages and two rashers of bacon is worth 130g.


Big swipe at Mastercard Almost every adult in the UK could receive a payout of up to 300 from Mastercard after a court ruling paved the way for a 14bn class action lawsuit. It is claimed 46 million UK consumers were victims of inflated prices caused by excessive Mastercard transaction fees, even if they did not use its credit cards. Mastercard has said it will fight the case all the way to the supreme court. Dont start spending yours yet.

Today in Focus podcast: The toppling of Sudans despot

The Guardians Nesrine Malik grew up in Sudan and witnessed first-hand the brutality of the countrys president, Omar al-Bashir. Malik reflects on what his ousting, after 30 years, means for Sudan. Plus: Angelique Chrisafis on the Notre Dame Cathedral fire.

Lunchtime read: Tim Dowlings week off from Google

The 118 inquiry line connects me to the cinema chains recorded phone menu, which refers me to the website for film times and hangs up on me. I ring back and select the booking option. I am connected to a charming woman who seems to have nothing but time I cant figure out why shes being so patient, until I realise shes assuming I am very old. Otherwise, I would be doing this online.

Tim
Tim Dowling trades his smartphone for London A-Z. Photograph: Graeme Robertson/The Guardian

To get Google out of your life is a big undertaking. Google Maps doesnt just get you to places; it drives many of the other apps you use, including Uber. Google owns YouTube. Google controls my thermostat. For the purposes of this experiment, I am simply avoiding the maps, the search engine, the browser and YouTube. I am going to keep using email. There are, of course, other browsers, search engines and map apps out there, but I am not trying to find substitutes. I am trying to do without.

Sport

A Lionel Messi masterclass has led Barcelona to a Champions League rout of Manchester United, with the midfielder scoring a brace during a 3-0 win at Camp Nou, making the aggregate 4-0 score the Red Devils worst ever European knock-out tie result. It prompted Ole Gunnar Sojskjr to admit the club had a rebuilding job, with Barney Ronay writing that a creaking backline full of Ferguson-era remnants could be the starting place. Elsewhere Ajax upset Cristiano Ronaldos Juventus with young captain Matthijs de Ligt heading home the winner.

And in cycling, Belgian Victor Campenaerts has broken Sir Bradley Wiggins one-hour record, with the 27-year-old declaring himself super happy after 221 laps in the velodrome.

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Business

Asian share markets have swung higher after Chinese data easily beat expectations. First-quarter economic growth hit 6.4% while industrial output surged 8.5% in March from a year earlier, beating forecasts of 5.9%. Retail sales rose 8.7%. Investors reacted immediately by buying the Australian dollar, closely tied to Chinas fortunes. The Aussie pushed up 0.3% to a two-month top at $0.7206. The Nikkei added 0.5% to reach its highest in almost five months, while E-Mini futures for the S&P 500 rose 0.2%. MSCIs broadest index of Asia-Pacific shares outside Japan gained 0.2% to near its highest since July. Sterling overnight has been trading around $1.306 and 1.155 while the FTSE looks like being lower at the open.

The papers

Photographs of the interior of Notre Dame feature on many front pages, with some papers leading on the story of the fire. The Guardian says: After the fire died down, Notre Dame stood defiant, the is splash is: Notre-Dame rises again and the Times has Notre Dame saved just half hour from collapse.

Original Article : HERE ; This post was curated & posted using : RealSpecific

This post was curated & Posted using : RealSpecific

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