Remove 2023 Remove Greenwashing Remove Stranded Assets
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Over Half of CEOs Say Sustainability a Higher Priority Now than 12 Months Ago: EY Survey

ESG Today

The findings align with those of a 2023 EY survey of senior corporate finance leaders , which found that while sustainability remained as a top investment priority, it was also the most likely area to experience near-term budget cuts in the current inflationary and geopolitically unstable environment in order to meet short-term earnings goals.

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Business-as-usual no Longer an Option for Banks

Chris Hall

As US and Canadian banking majors begin to publish their 2023 proxy statements, there has been a troubling mischaracterization of climate-related shareholder resolutions, misleading investors into thinking these resolutions are something they’re not. Proponents of the resolutions acknowledge the near-term need for fossil fuels.

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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. Carbon Capture Backed by Carbon Offsets?

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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. This leaves it heavily exposed to reputational, regulatory and stranded-asset risk, leading many investors to avoid it. In 2023, the coal division contributed over CA$5 billion (US$3.64

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Investors Search for Answers

Chris Hall

The importance of water-related risks was underlined last month with the commitments to a more ambitious Water Action Agenda signed last month at the UN’s first dedicated water summit in 50 years, part of a focus throughout 2023 on getting the UN Sustainable Development Goals back on track.

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Keeping on the Straight and Narrow

Chris Hall

Over the course of 2022-2023, the TPT will be making recommendations, preparing detailed sectoral templates, creating guidance on third-party verification, and producing a pathway for future work on transition plans for consultation. . No two companies’ transition journeys are the same, even if they’re in the same sector.

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Energy Transition Accelerator

Chris Hall

And there are wider issues around the VCMs already in operation, such as credit pricing, third-party verification and reducing the risk of greenwashing. . While the ETA will offer a “fixed price” for corporates, there are concerns that too low a price could reduce the quality of the credits and expose the market to greenwashing risk. .