Bank of England governor Mark Carney has warned that climate change threatens global financial stability during a speech to insurers Lloyds of London. There is little incentive for current generations to fix it, and by the time it becomes a “defining issue” it may be too late, he warned. The Guardian reports that proposals will probably be put before the G20 meeting in Turkey in November, urging countries to deliver tougher corporate disclosure standards, according to Carney. The Financial Times interpreted Carney’s comments as the governor throwing a gauntlet to the fossil fuel industry, as he warned of stranded assets once reserves become “unburnable”. The BBC also has an exclusive interview with Carney. The Telegraph also covers the story.

BHP Billiton, the world’s biggest mining company, is confident that its profits will remain strong regardless of a global UN deal to curb climate change. The group, which mines coal as well as copper and iron ore, is confident that its profits will double by 2030. Its new report looking at the risks suggests that carbon capture and storage will enable them to continue to burn coal, although the technology is still in its infancy. The Financial Times highlights its finding that the company could lose 5% off the value of its mineral assets if the price of CO2 is raised to $80 per tonne. Reuters also covers the story.

New York mayor Bill de Blasio has called on the city’s five pension funds, worth $160bn, to stop investing in coal and reconsider their investments in other fossil fuels. His call follows a similar move from California, where lawmakers passed a bill requiring state pension funds to sell their investments in coal companies earlier this month, and a wider movement towards divestment around the world. The pension funds have around $33m in thermal coal investments. The Guardian also covers the story.

The Volkswagen emissions scandal rumbles on, with the company saying that it will repair up to 11 million vehicles. Fred Pearce writes in the New Scientist that green claims from corporates need extra scrutiny following the revelations. Scientific American writes that, although the extra pollution caused by the scandal is impossible to quantify at the moment, it might exacerbate regional health concerns. The New York Times looks at the difficulties involved in kicking the diesel habit.

Labour has dropped its plan to nationalise the Big Six energy companies, according to shadow climate and energy secretary Lisa Nandy. According to her speech at the Labour Conference yesterday, Labour instead plans to “democratise” energy, proposing that every community should be encouraged to generate their own clean power through local cooperatives. The Financial Times says it is an example of Corbyn’s radical ideas “disintegrating”. Nandy also accused the present government of “turning its back on our wind and solar industries”, the BBC reports.

A long list of senior figures in the aviation industry have written a letter outlining action being taken to curb emissions from aeroplanes. While it is already taking a series of actions, it is important that governments agree a market-based measure to stabilise the sector’s emissions from 2020 — something that they will have an opportunity to do next year at the 39th ICAO Assembly. Delaying this will harm the industry and the climate, they write. Carbon Brief has looked at aviation’s battle to limit emissions.

The International Maritime Organization (IMO) should remain the forum for tackling shipping emissions, argues Koji Sekimizu, secretary general of the agency. When countries meet in Paris this year under the UNFCCC, they may be tempted to adopt measures to curb shipping emissions, but this “must be avoided”, he writes. The IMO should be trusted based on its track record to deal with shipping emissions by itself, he adds. Carbon Brief has explained the impact of shipping on climate change here.

A study of nearly 70,000 births in 19 African countries finds that a pregnant woman’s exposure to lower rainfall and a higher number of very hot days results in a lower birth weight of their child. The researchers analysed data of births between 1986 and 2010 along with seasonal rainfall, air temperature, and household data such as education level and access to electricity. Among the results, the study finds that just one extra day with a temperature above 100F (37.8C) in the second trimester corresponded to a 0.9g lower birth weight, while a 10mm increase in rainfall during a particular trimester corresponded to a higher birth weight of around 0.3-0.5g.