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The 60 largest banks in the world have provided US$6.9 trillion in financing for new fossil fuel expansion projects, investments that put the net-zero goal of the Paris Agreement in jeopardy. This is welcome news for the lead researcher on this year’s report, the 15th annual edition of Banking on Climate Chaos (BOCC), released Monday.
bank to commit to measuring and disclosing the climate impact of its loans and investments, announcing last week that it has joined a multi-trillion dollar group of global financial institutions developing a standardized method for carbon accounting. Morgan Stanley has become the first major U.S. trillion in assets. trillion in assets.
Since our first report was launched in the summer of 2016, a great deal has changed in the world. Larry Fink, the CEO of the largest investment firm in the world, wrote in his 2022 letter to CEOs: “It’s been two years since I wrote that climate risk is investment risk. Sustainableinvestments have now reached $4 trillion.
And according to a report by Reclaim Finance , banks and financial institutions that signed on to the Glasgow Financial Alliance for Net Zero (a group with assets worth more than US$130 trillion) have continued to pour hundreds of billions of dollars into fossil fuels. Nor is Colorado PERA alone in its proven missed opportunities.
Data provider appoints former Trucost CEO Richard Mattison to accelerate initiatives and develop fresh strategies for sustainableinvesting. Mattison has more than 20 years of sustainable finance experience and previously served as President of S&P Global’s Sustainable1 unit. million in Q3 , up from US$79.9
Mattison joins MSCI after serving as President of S&P Global’s sustainability unit, Sustainable1, and as CEO of carbon and environmental data and risk analysis company Trucost, acquired by S&P Global in 2016. Sustainability and climate change issues are reshaping the global investment landscape.
The green loan was provided by a consortium including 23 commercial banks, in addition to the European InvestmentBank (EIB) and the Nordic InvestmentBank (NIB), who are both supported by the European Commission’s InvestEU programme , which mobilizes investment towards sustainableinvestment, innovation and job creation in Europe.
In response to accusations of greenwashing and growing regulatory scrutiny, a group of high-powered financial networks is working to standardize the often-opaque jargon of the responsible investing industry. In the beginning, most banks and large money management firms didn’t pay much attention. In the U.S.,
Now, more than six years after the Brexit vote, which took place in the same year, 2016, as Solvency II came into effect, HM Treasury is planning to slim down Solvency II as it applies to the UK. This would not prevent fossil fuel investment but would make it more expensive.
Marcie Frost Marcie Frost joined CalPERS as chief executive officer (CEO) in October 2016. billion, an experienced team of 2,800 professionals, and three lines of business for the fund: pensions, health benefits, and investments. Mr. Kirkwood has more than 20 years of banking and economic development finance experience.
Part of this revolution is the meteoritic growth of green bonds, which were started in 2007 by the World Bank and the European InvestmentBank. From a mere three billion USD in 2012 it has grown to $81 billion in 2016 and could reach $150 billion this year. Green bonds are indeed often oversubscribed due to their success.
Marco Folino 27, Vancouver manager of sustainableinvesting, BentallGreenOak When Marco Folino started working as a management consultant, he found that there were rarely enough sustainability experts to help companies considering integrating ESG into their strategic goals. “A better world doesn’t just have to be a side hustle.
To boost sustainableinvestment in ocean economies, the International Capital Market Association, in partnership with other industry bodies, has consolidated existing blue finance guidance and principles under one framework. trillion globally, according to the World Bank from a mere US$15 billion in 2013.
Today, a massive climate and Sustainable Development Goal (SDG) financing gap still persists — and even after the SDGs and Paris Agreement laid out a critical role for the private sector in 2016, the subsequent years have brought only modest increases in private investment mobilization. trillion — up from $2.5
Despite the poor year-to-date comparison with peer funds, sustainable funds’ average trailing three-year and five-year category rankings, which include the first half of 2022, are an impressive 41 and 39, respectively.) Third, sustainableinvesting has been getting more criticism than it has since its real ascent began in 2016.
ESG Investor’s weekly round-up of news about funds designed to meet sustainableinvesting criteria, including Robeco, Brunel, Jupiter, Mirova, ECBF, EQT, Actis and AlbaCore. . Dutch asset manager Robeco ’s new Sustainable Development Goal (SDG) Low-Carbon Indices aim to invest in companies making a positive contribution to the SDGs.
ESG Investor’s weekly round-up of new hires in the sustainableinvesting sector, including AXA Investment Managers, BNP Paribas Real Estate UK, Climate Solutions, Willis Towers Watson, Actis, and Persefoni. Lisa Pinsley , who joined Actis in 2016 is Head of Middle East & Africa for Energy.
ESG Investor’s weekly round-up of moves and appointments in the sustainableinvesting sector, including the ISSB, Hymans Robertson, 2DII, ACA Group, Edison, UKSIF and Util. . D’Ath has nearly 30 years of experience in investments and international equity markets, working as Barclays Wealth, ING and ICAP.
Laura Bosch Ferrete, SustainableInvesting Specialist at Robeco, said: “Indonesia works constructively with and supports relevant government authorities and other stakeholders. The World Bank calculates that the percentage of the world’s surface covered by forestry fell from 31.6% in 1990 to 30.7%
In 2016, I attended COP13 as part of the WHC delegation of two people. This year, for the first time, a company was excluded from an investment fund on the basis of biodiversity. Governments, companies, banks and NGOs are all at the starting line ready to take the nature-positive journey. It's all happening for nature right now.
According to the World Bank , 15% of the world’s population has a disability. This statistic is expected to grow, considering that the Indian government amended the Rights of Persons with Disabilities Act of 2016 to include 14 additional impairments, for a total of 21 disabilities. of the country’s population to have disabilities.
In 2016, things seemed somewhat dire for the clean energy transition. There are 90 new companies on the list this year, and some of those companies cracked the top 10, including Deutsche Telekom (in third place), Verizon Communications (fourth), Agricultural Bank of China (sixth) and Contemporary Amperex Technology (10th).
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