Remove 2021 Remove Greenwashing Remove Stranded Assets
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Business-as-usual no Longer an Option for Banks

Chris Hall

So let’s set the record straight: these shareholder resolutions call for banks to adopt responsible guardrails for transition financing, and to insure against both greenwashing and over-exposure to risky lending practices. Proponents of the resolutions acknowledge the near-term need for fossil fuels.

Banking 98
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At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Corporate Knights

The announcement is meant to deliver on the 2023 subsidy phaseout deadline contained in Prime Minister Justin Trudeau’s December, 2021 mandate letters to Guilbeault and Finance Minister Chrystia Freeland. increase in 2021, the Canadian Climate Institute reported in February). billion for the first nine months of 2021/22.

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Investors Face Direct Risk from Climate Litigation

Chris Hall

Direct litigation risks include challenging investors’ mismanagement of climate and biodiversity-related risk, breaches of fiduciary duty, greenwashing, or financing environmental and human rights-related harms.

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Investors Face Rising Direct Risk from Climate Litigation

Chris Hall

Direct litigation risks include challenging investors’ mismanagement of climate and biodiversity-related risk, breaches of fiduciary duty, greenwashing, or financing environmental and human rights-related harms.

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Glencore Abandons Coal Demerger at Investors’ Request

Chris Hall

In the statement it referred to metallurgical coal as “carbon steel materials”, drawing accusations of greenwashing. Anglo American sold its thermal coal portfolio in 2021, while BHP announced in 2022 that it would close its last such mine in 2030.

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Investors Still in the Dark on Climate Risks to Firms’ Finances

Chris Hall

For example, they may request assurance that the company won’t end up with stranded assets.”. Potential evidence of greenwashing. These differences could be evidence of greenwashing.”. In some cases, they have stayed invested and asked companies for more information. How balance sheets could change.

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Pushback for Canada’s Transition Taxonomy

Chris Hall

Following a lack of progress made by the non-profit industry body Canadian Standards Association (CSA), SFAC was launched in 2021 by the Canadian government with responsibility for creating a green taxonomy.