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Banks flout net-zero targets to cash in on the next LNG boom

Corporate Knights

A new report published by Reclaim Finance on Thursday calculates that, between 2021 and 2023, 400 banks put $213 billion toward LNG expansion and 400 investors funded the buildout with $252 billion as of May 2024. Many large banks have pledged to reach net-zero emissions, yet they are still financing the LNG boom.

Net Zero 248
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Use of Employee Incentives to Hit Climate Goals More than Doubles Over Past Year: Accenture

ESG Today

While companies are increasingly adopting emissions reduction measures, however, the report found that less than one in five are on track to hit net zero emissions in their operations by 2050. over the prior year, after growing from 27% in 2021. over the prior year, after growing from 27% in 2021.

Net Zero 118
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Green groups urge UN to raise climate ambition on global shipping

GreenBiz

Campaigners maintain that stronger ambition is required given that the 2030 target the IMO is working towards — a 40 percent reduction in carbon-intensity emissions — is not aligned with the Paris Agreement in the first place.

Shipping 436
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OECD Warns of Climate-alignment “Blind Spot”

Chris Hall

By 2023, 77 countries had adopted climate-related transparency and information policies, like environmental taxonomies. The OECD report analysed how the climate alignment of finance globally is assessed, the current degree of alignment, and how financial sector and real economy policies and actions influence alignment with Article 2.1c

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Switzerland Sets Target to Reduce Greenhouse Gas Emissions by 65% by 2035

ESG Today

The new decarbonization goal will form the basis of Switzerlands second Nationally Determined Contribution (NDC) under the Paris Agreement, which the Swiss Federal Council said will be submitted to the UN Framework Convention on Climate Change (UNFCCC) by February 10.

Net Zero 101
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Climate Action 100+ Net Zero Company Benchmark Shows Continued Progress on Ambition Contrasted by a Lack of Detailed Plans of Action

3BL Media

Updated and more ambitious Benchmark used to assess focus companies on their net zero transition plans. The results show that most focus companies are not moving fast enough to align with the goals of the Paris Agreement and reduce investors’ risk. C remains possible due to the growth of clean energy technologies.

Net Zero 147
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Aligning Capital to Ambitious Climate Goals

Chris Hall

Asset managers’ net zero targets depend on governments living up to their commitments, says Rebecca Mikula-Wright, CEO of AIGCC and IGCC and NZAM Chair. In the past 12 months, signatories have been taking a range of actions to implement their individual net zero commitments.