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Divesting from fossil fuels isn’t just good for the planet. billion in returns over the last 10 years by not divesting from fossil fuels. And in 2018, Ireland became the first country to divest its national investment fund completely from fossil fuel companies. It can be good for financial returns, too.
On a panel discussing Climate Engagement Canada – an initiative to foster dialogue between finance and industry for a just transition to a net-zero economy – TD Asset Management’s managing director, Priti Shokeen, said that her team now expects portfolio companies to make sustainability disclosures.
Divest now for tomorrow For insurance companies that are big institutional investors, that has also meant divesting their holdings in oil, gas and coal projects. In 2015, France’s AXA became the first insurance company to start divesting from coal. billion and US$9.9
Financial organisations thus have a major role to play in the decarbonisation of the global economy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 South Pole can help you navigate the existing framework as well as the new netzero guidance (FINZ) which will replace it in Q4 2023.
This overtook the Marinara dam disaster as Brazil’s most catastrophic environmental event, which killed 19 people and destroyed the village of Bento Rodrigues in 2015. McMurdo anticipates more such rebellions this year, which he says reflects the pervasive greenwashing evident in netzero plans. Disputing divestment.
In 2015, the group also submitted its first application to the Financial Reporting Council’s (FRC) UK Stewardship Code. “An The pioneering VAS campaign was launched five years after the passing of the UK Modern Slavery Act 2015, in which section 54 (s54) encouraged every company to produce modern slavery statements.
This could stem from campaigns which lobby for divestment from polluting companies or projects. “In our view, the risk to investors from ESG or climate litigation remains primarily indirect,” Mark Banks, Dispute Resolution Senior Associate at Baker McKenzie told ESG Investor.
Almost overnight, Vladimir Putin pulled off something investors have been struggling to achieve since 2015: decarbonising the business models of oil and gas majors. By divesting its 20% stake in Rosneft, BP also disposed of around a third of its oil supplies. Away from Europe, there was some good news.
Pension fund makes case for divestment, against backdrop of increasingly positive climate policy across major markets. The global energy mix is composed of roughly 17% renewables, representing an increase of just two percentage points from 2015 levels.
However, despite a positive trend for climate policy acceleration as detailed in the Inevitable Policy Response (IPR) tracking reports since 2021’s COP26 in Glasgow, the lag between ambition and progress since the 2015 Paris Accord will be laid bare, no matter how it is dressed up. None of this will be fun.
A selection of this week’s major stories impacting ESG investors, in five easy pieces. Investors and policymakers signalled mixed progress in their support for netzero transition this week, ahead of a critical report from scientists. In Canada and Europe, the emphasis is on transition.
According to research by MSCI, nearly half (44%) of listed companies have now set decarbonisation targets, representing an eight-percentage-point increase than was reported in the October 2022 MSCI Net-Zero Tracker , but only 17% of those targets would align with the 1.5°C
This could stem from campaigns which lobby for divestment from polluting companies or projects. “In our view, the risk to investors from ESG or climate litigation remains primarily indirect,” Mark Banks, Dispute Resolution Senior Associate at Baker McKenzie told ESG Investor.
To achieve the Agreement’s goal of net-zero emissions globally by 2050 , we must significantly boost energy efficiency and greatly accelerate the global transition away from fossil fuels, and toward new fuels such as green hydrogen and renewables such as wind, solar and thermal.
n December 2015, the world took a vital step in tackling climate change by adopting the Paris Agreement. Currently, 75% of focus list companies have made netzero commitments, and over 90% have some degree of board-level oversight of climate-related risks and opportunities. “The
These goals include net-zero GHG emissions economywide by 2045 and net-negative emissions thereafter, along with a 40% reduction in statewide GHG emissions from 1990 levels by 2030 and 80% by 2050. SCE’s Long History of Clean Energy Action.
Buffeted by critics on both sides, finance sector alliances may need to refresh their tactics to progress toward netzero goals in 2023. This time last year BP was in receipt of numerous plaudits for accelerating its netzero transition plans.
million b/d in 2015. BNEF expects a larger jump in 2023 thanks to even more generous tax credits for carbon capture, utilization and storage (CCUS) included in the US Inflation Reduction Act, and an acceleration in net-zero transitions by European companies. The divestment movement will wane. Chinese demand grew to 15.4
The letter also seeks a net-zero electricity grid by 2035, a 50 percent target for electric vehicle sales by 2030, and a renewed commitment to international climate finance. The fossil fuels divestment movement continues to grow and as indicated in a recent report by DivestInvest, 1,500 investment institutions, responsible for $39.2
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