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The new resolution follows the release last year by Shell of its Energy Transition Strategy 2024, the first update to its Powering Progress strategy, launched in 2021, outlining the companys climate transition roadmap and goals. The resolution failed, receiving only 18.6% shareholder support.
What sets them apart is their commitment to doing business differently – they’re companies that derive significant revenue from greener products and services, invest in increasingly sustainable projects, and prioritize equity in their operations. More evidence that any company, in any industry, can choose a more sustainable path.
Over the next three days, the conference convened discussions that highlighted the latest learnings, focus areas and key obstacles for the responsible investment community. Here are our top four takeaways from PRI’s 2024 conference, based on insights and conclusions from the world’s top responsible investors.
The asset manager’s sustainableinvestment engagements typically run for three-year periods, with engagement specialists in contact with selected investee companies to track progress against objectives. According to Robeco, each of its engagement topics were selected following consultation with clients.
Europe’s new code – As Ursula von der Leyen mulled over the composition of her top team for the next five years , the European Commission’s incoming finance chief was already getting advice on the future of sustainableinvestment. billion of net new money. The biggest Q2 outflows were seen in the US, but the US$4.7
The limits of fiduciary duty and corporate engagement could see institutional investors embrace systemic stewardship in 2024 to meet 1.5°C-aligned These were highlighted at last October’s PRI in Person event by Jan Rasmussen, Head of ESG and Sustainability at PensionDanmark. C-aligned objectives.
Other investors must follow suit and cast similar votes at 2024 AGMs to unambiguously oppose oil and gas expansion.” Fortunately, there are plenty of climate-focused shareholder resolutions on the ballot this season. It’s also a sellable GHG product for oil and gas firms.
Asset owners should track their contributions to climate change mitigation by calculating the green investment ratio of portfolios and assets, according to a recent report by the Institutional Investors Group on Climate Change (IIGCC). .
Financial organisations thus have a major role to play in the decarbonisation of the global economy, yet it is estimated that since the ParisAgreement in 2015, the 60 largest banks have instead invested $5.5 Clearly much more needs to be done to pivot towards more sustainableinvestment and lending practices.
Industry experts have stressed the need for simplicity and clarity around Europe’s ESG fund labelling, as the European Commission’s Sustainable Finance Disclosure Regulation (SFDR) consultation deadline looms. The SDRs were due to be introduced on 30 June, but following various delays are now expected in H2 2024.
Joining the Committee alongside Piani are Flora Wang, Head of Stewardship, Asia at Fidelity International and Jane Karen Ho, Head of Stewardship for Asia Pacific at BNP Paribas Asset Management from January 2024, who have been selected by AIGCC.
trillion annually, has attracted just US$13 billion in sustainableinvestment during the past decade. This explainer looks at the calls for a ‘sustainable blue economy’ and the role investors can play. The resolution will help to forge an international legally binding agreement by the end of 2024.
FTSE Russells 2024sustainableinvestment survey found that asset owners were utilising passive sustainableinvestment strategies more often than active strategies for the first time.
She encouraged investors to vote against directors’ re-elections and restrict new investments in firms that continue to be misaligned with the goals of the ParisAgreement. “Shareholders are the last line of defence and must be supported in changing big oil from within,” said Rosa High, a member of the Fundraising and Legal team at Follow This.
Bolli was co-lead author of the protocol report, alongside Udo Riese, Global Head of SustainableInvesting at Allianz Investment Management. From 2023 onwards, members are also being asked to set decarbonisation targets on new commercial real estate loans, reporting on progress from 2024.
Impact assessments for the fuel standard and emissions pricing will be carried out over the course of 2024. The Clean Shipping Act would direct the US Environmental Protection Agency (EPA) to set increasingly stringent carbon intensity standards for shipping fuel by 2040, in line with the goals of the ParisAgreement.
Louis Bromfield, Lead SustainableInvestment Associate at Foresight Capital Management, says that investors need to pay attention to SAFs, with aviation representing “one of the most difficult sectors to decarbonise”. Trouble on the tarmac A key challenge in scaling up SAFs comes from production. The credit starts at US$1.25
According to analysts Circle Economy, adding circular economy solutions to countries’ Nationally Determined Contributions (NDCs) to the ParisAgreement will enable global temperature rises to be kept “well below” 2?C. Portfolio companies include Adidas, which has committed to 100% recycled polyester in its trainers by 2024.
As an example, heavy GHG emitters countries as China pledged for net-zero emissions by 2060, and the ParisAgreement became one of the issues driving voters to vote in the US presidential election. Sustainable business trend 1 – Eco-designed Products. Adidas to use 100% recycled polyester by 2024. Conclusions.
There isn’t only a moral imperative for corporations to work toward a more sustainable planet; there’s a financial one, too. Here are eight ways the sustainable economy is taking over. When it comes to sustainableinvestments, it’s the same story. trillion). Toby Heaps is co-founder and publisher of Corporate Knights.
In 2024, the Net Zero Insurance Alliance disbanded, later rebranding as the Forum for Insurance Transition to Net Zero. Waxman said that, going forward, NZAM should look to demonstrate more leadership by working with its remaining members to elevate their responsible management of climate-related risks and other sustainableinvestment issues.
Sustainableinvesting has outgrown the catch-all ‘ESG’ label and the financial world should move beyond it, according to former BlackRock global head of sustainableinvesting Paul Bodnar. Instead, it means developing more sophisticated, multifaceted approaches to sustainableinvesting. “I
The distinction between active and passive investment strategies needs to be redefined when it comes to sustainableinvestments, argues Henrik Wold Nilsen, a Senior Portfolio Manager at Storebrand. Storebrand makes the distinction between Paris-alignment reporting and financial alignment. trillion total.
Despite Trumps less-than-supportive stance, unforeseen sustainableinvestment opportunities may thrive during his tenure. The narrative [around the energy transition] has dampened as the political environment in the US turns hostile, but that doesnt mean actual sustainableinvesting will necessarily be significantly hit, Drummond adds.
Funding exodus In the three months to 30 June 2024, US$4.6 billion were taken out of sustainable funds, Morningstar Sustainalytics found. The continent now boasts 84% of the world’s total assets under management in sustainable funds. of investors backed pro-ESG resolutions in the 2024 proxy season, down from a high of 33.3%
From the potential rollback of climate policies, to fears of a hostile environment for sustainableinvesting, to threats of the US leaving the ParisAgreement once more – speculation has been rife. Let’s not sugarcoat things: the outcome of the 2024 US presidential election represents a setback for climate action.
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