Page 29 - bon-dia-aruba-20201110

A29
WORLD NEWS Diamars 10 November 2020

UN envoy lays out strategy for financing climate battle

(AP) — The U.N.’s special to no more than 1.5 degrees also disclose how their choic-
envoy for climate change Celsius. es are aligned with climate
on Monday laid out a goals, he said.
strategy for financing ef- "When the world’s govern-
forts to cut carbon emis- ments set the goal of net zero “Over time, investors won’t
sions, calling on compa- and over $100 trillion of capi- just judge company transi-
nies to be more transpar- tal are demanding action, at a tion plans, they too shall be
ent about their efforts and minimum, major companies judged,’’ Carney said. Later
the impact rising temper- need to disclose whether the Monday, the U.K.'s Treasury
atures will have on their assumptions in their finan- chief, Rishi Sunak, said he
operations. cial accounts are aligned with would force British compa-
Paris," Carney said. “In other nies to reveal the impact they
Mark Carney, the former words, are they joining us on are having on the environ-
governor of the Bank of the Road to Glasgow or not?’’ ment as the country moves
England, said 126 countries to meet a net zero target by
have committed to achieving The comments come at 2050. Companies will have
net-zero carbon emissions, a crucial moment for cli- until 2025 to get in line with
and investors overseeing mate campaigners. The the rules.
more than $140 trillion are U.S., which withdrew from He also announced plans for
demanding that companies the Paris Agreement under “green sovereign bonds,'' in
do more to assess the risks President Donald Trump, hopes to position the U.K. as
and opportunities of climate is expected to rejoin the ac- the hub of green finance be-
change. But, he said, more cord once President-elect Joe fore COP-26.
needs to be done to secure Biden takes office.
the trillions of dollars in pri- Carney also called for the
vate investment needed to Carney has long championed creation of new markets, par-
slow the rise in global tem- the notion that making com- ticularly in carbon offsets,
peratures. panies accountable for their to facilitate investment in
impact on the planet is the the projects needed to meet
Carney’s speech to financial first step toward reducing climate goals, the most cost-
leaders in London comes as greenhouse gases. effective of which are in the polluter’s own emissions, re- “Climate change is a global
the U.K. prepares to host He said Monday that com- developing world. ducing net releases into the challenge. Much of the criti-
the next U.N. climate sum- panies need to go further by atmosphere. cal investment will take place
mit, known as COP26, a year disclosing the risks climate Carbon offsets occur when a in emerging and developing
from now in Glasgow. The change poses to their busi- polluter pays someone else to While demand for such off- economies,” Carney said.
summit’s goal is to ensure nesses and their plans for reduce their emissions, then sets is likely to soar as more “For this to happen, we need
the world meets the Paris cli- the future. Investors such as receives credit for those re- companies commit to net- to turn billions of public
mate accord’s goal of limit- banks, insurance companies ductions. These credits can zero emissions, this market capital into trillions of private
ing global temperature rises and investment funds should then be used to offset the “barely exists,” Carney said. capital.

Masters honors Lee Elder with scholarship and a tee shot

(AP) — In a year marked as honorary starter. said that was more because
by racial injustice, Au- Elder ended his career with he had some 15 people with
gusta National announced four PGA Tour victories. He him than “being segregated
Monday it would honor played five more times in the against.” Julius Scott, in his
Lee Elder with two schol- Masters, with his best finish a first year as president of Paine
arships in his name at tie for 17th in 1979. College, handled the catering
Paine College and an hon- "To know that I would be for Elder all week.
orary tee shot next year hitting a shot off the first tee From that week, Elder be-
for the first Black player alongside the great Jack Nick- gan a relationship with the
in the Masters. laus and Gary Player, you college.“Look at old year-
have to think about where books and you'll see pictures
“It's mind-boggling every you're at and what you've ac- of him with the golf team,”
time I think about it,” said complished and why you're said Cheryl Evans Jones, the
Elder, who made his barrier- there,” Elder said. "A young president of Paine College.
breaking debut in 1975. It man from the ghetto of “He's made a a lot of contri-
was about time, according to Dallas, Texas, man, you've butions to the sport.”
Masters Chairman Fred Rid- Augusta National would pay soul will be into this shot." achieved world fame. The Ridley said he did not know
ley, who said racial injustice to start one. The criteria have changed whole world will be watching how much it would cost to
and equality have been at the Elder already was looking over the years at the Masters, and looking. start a women's golf program
forefront of the nation this ahead to next April when he and when the club began is- “For the chairman to present and that was irrelevant. He
year. returns to the first tee, this suing invitations to PGA me with that opportunity is said Augusta National would
“Our question was not so time with a shot that doesn't Tour winners, Elder qualified something I'll never forget. pay for everything.
much what we can say but count toward a score but is by winning the 1974 Pen- Never forget.” “The times I have visited, a
what we can do,” Ridley said. more meaningful to him than sacola Open. That made him The connection to Paine lot of the ladies came out to
The Masters for some two when he first played the tour- eligible for the 1975 Masters. College goes beyond it being watch the men play,” Elder
decades has provided schol- nament. He missed the cut, though an HBCU. said. “I heard quite a num-
arship money for Paine Col- “That is one thing that’s go- Ridley said the moment was Elder arrived in Augusta ber of times, ‘Gee, I wish we
lege, a private, historically ing to be significant to me, historic because of the mes- more than 45 years ago to had a team so we could play.’
Black college in Augusta. The because 1975 was just an sage it sent that “I belong.” much fanfare as the first By Augusta National making
Lee Elder Scholarship will be ordinary shot playing a golf Next April, he will join Jack Black competitor in a tour- that decision, it's now going
endowed for one man and tournament, even though it Nicklaus and Gary Player as nament that for four decades to give them a chance to ful-
one woman on the golf team. was the Masters,” Elder said. the honorary starters. Ridley only included Blacks as cad- fill that dream of being able
The fact Paine doesn't have “It’s not as significant as this referred to it as a “special mo- dies or in catering. to come to college, get a four-
a women's golf program was shot will be come April 8, ment in time,” suggesting it Finding a place to eat din- year scholarship plus com-
not a problem. Ridley said 2021. Because my heart and will be a one-time appearance ner was difficult — Elder pete on the golf team.”