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The British Environment Agency has calculated that over two million homes are at risk of being flooded, a situation that will get worse because of climate change. "The risk of flooding is ever present, and increasing", says the Environment Agency (EA).

Despite everyone knowing that climate change will make matters worse, developers are still trying to develop on known flood-risk areas. Last year, planning permission was granted for 21 cases of "major developments" in the UK against the advice of the EA.

Barbara Young, the chief executive of the EA, says: "Recent floods, storms and drought have shown how vulnerable we are

The fight against climate change received an unexpected boost yesterday when 86 evangelical Christian leaders in American backed a major initiative to fight climate change.  A statement they released said: "millions of people could die in this century because of climate change, most of them our poorest global neighbors."

The statement continued: "For most of us, until recently this has not been treated as a pressing issue or major priority. Indeed, many of us have required considerable convincing before becoming persuaded that climate change is a real problem and that it ought to matter to us as Christians. But now we

Tony Blair yesterday warned world leaders they had less than seven years to save the climate, but then ruled out a special tax on the most polluting travel of all - flying.

"It is unrealistic to think that you will get some restriction on air travel at an international level", said Blair. So we can all carry on flying and leave climate change to governments to sort out... Sounds like a great plan, Mr. Blair

Yesterday saw BP join Shell and Exxon in reporting record profits of $19.3bn (£11bn).

What the three company results highlight is the fundamental flaw of how they are valued by city investors. As both Shell and BP posted record profits their share price actually went down as the profits were not as large as some had expected.

But the real reason that city investors were disappointed is that they felt that both BP and Shell had underperformed in key areas. Shell had not replaced as much reserves as the city analysts had hoped. BP also disappointed mainly through its refining operations. To

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