This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
For the leaders of the divestment movement, which encourages institutional investors to sell off their shares in fossil fuel companies, winning isn’t everything. But after a decade of determined lobbying, the divest side is suddenly doing a lot of winning. That tally, they noted, is bigger than the combined GDP of the U.S.
The sector, moreover, isn’t on track to achieve net-zero targets, despite investments in new forms of low-carbon energy for steel plants. For example, Sims finally divested itself of part of its municipal recycling business – a large blue-box operation in New York City. Photo courtesy of Sims Ltd.
Divestment from fossil fuels is accelerating around the world. Besides dozens of universities (including Harvard and the University of Toronto), the divestment list now includes France’s Banque Postale, the State of New York, and Europe’s largest pension, ABP.
South Pole can help you navigate the existing framework as well as the new netzero guidance (FINZ) which will replace it in Q4 2023. They can also divest from high-emitting industries such as thermal coal production. When developing an investment decarbonisation approach aligned with +1.5°C
The Church of England has announced it will divest from Shell, finally acknowledging the failure of more than a decade of investor efforts to convince the oil and gas sector to align with global climate goals. The respected investor is now divesting from all fossil fuels by the end of 2023 and will no longer try to engage with oil and gas.
HSBC Asset Management unveiled a new policy today to phase out its investments in coal-fired power and thermal coal mining, with plans to ramp engagement with companies on transitioning away from thermal coal, and to divest from companies over time with inadequate transition plans. C objectives or clear divestment pathways.
Canadian pension fund to eschew “blanket divestment”, emphasising role as “active investor and influencer”. Blanket divestment is not the best way to maximise returns without undue risk of loss. Blanket divestment is not the best way to maximise returns without undue risk of loss. Whole economy transition.
trillion sovereign wealth fund, has published its 2022-2025 climate action plan. Our long-term return will depend on how the companies in our portfolio manage the transition to a zero emissions society.” . NBIM’s 2025 climate action plan is the fund’s latest commitment to improving its ESG-related performance. .
reduction in UPP’s portfolio carbon footprint by 2025 and 60% by 2030 compared to a 2021 baseline. . For existing investments, UPP is prioritising active engagement over divestment, partly due to the complexity of the challenges facing firms in different sectors. . Multi-pronged climate engagement .
Chris Skidmore, former MP and author of the netzero review, talks about what the next UK government should do to get the country’s netzero commitments back on track. “I cannot vote for the [Offshore Petroleum Licensing] bill next week. In May, a High Court ruling ordered it publish a revised netzero strategy.
The large UK asset owner releases its first netzero transition plan, warning longer-term goals will be difficult without robust policy support. Phoenix Group has a first interim target of a 25% reduction in the carbon intensity of around £160 billion of listed equities and credit by 2025.
Pension scheme says country’s new framework will support its netzero strategy; asserts that divestment of fossil fuels amounts to “passing the buck ”. Engagement over divestment The Canadian Pension Climate Report Card , which benchmarks schemes’ decarbonisation efforts, criticised HOOPP for lack of ambition in January.
The NetZero Asset Owner Alliance (NZAOA) has called on governments to swiftly implement and intensify climate-related policy that facilitates capital flow towards the netzero transition. Allia nce says t arget-setting by members translating into measurable impact on emissions reduction for the first time.
CalSTRS’ commitment to achieving netzero greenhouse gas (GHG) emissions by 2050 or sooner has heightened the asset owner’s scrutiny of investee companies’ decarbonisation targets and performance. If engagement and voting fails to promote positive change amongst investee companies, NBIM has demonstrated its willingness to divest.
Today, 78% of our product sales come from this program, and we plan to reach 80% by 2025. This is anchored in our comprehensive net-zero science-based targets and an ambitious impact plan for 2025 that includes saving 800 million tons of CO2 emissions for our customers by that time.
R estoration c apital w ill become c ore to the c limate n arrative towards the 2025 r atchet , says Julian Poulter, Head of Investor Relations at the Inevitable Policy Response. This will take time and now time has run out for the new clean lobbying to have the necessary impact to save global netzero without an overshoot past 1.5 ° C.
The protocol outlines how the 84 alliance members, with a collective US$11 trillion in assets, can align their sub-portfolio decarbonisation targets with netzero.
Speaking at the City Week financial services symposium in London, she echoed the views of the UN-convened NetZero Asset Owner Alliance (NZAOA) that 1.5°C The UK’s new Transition Plan Taskforce , for example, is bringing industry, NGOs and governments together to set out what a commitment to netzero should look like. . “It
Head of Sustainability at CDPQ Bertrand Millot highlights the pension fund’s focus on decarbonising the real economy, as well as comprehensively divesting from the oil industry. It also increased its green assets by 34% during the same period to C$53 billion, putting it within reach of its 2025 target of C$54 billion.
According to research by MSCI, nearly half (44%) of listed companies have now set decarbonisation targets, representing an eight-percentage-point increase than was reported in the October 2022 MSCI Net-Zero Tracker , but only 17% of those targets would align with the 1.5°C trillion, or 6.8%
Pledge to divest over next two years follows mounting pressure from protesters. PFZW has been under pressure from climate activists over recent months who have called for its divestment from fossil fuels. Setting a 1.5°C This followed a successful campaign targeting the country’s largest scheme, ABP.
The UK’s Transition Plan Taskforce (TPT) hit a significant milestone last week with the release of its final set of transition plan resources to help businesses mobilise finance for the netzero transition.
C pathway.” Despite ‘dark green’ investors divesting from Glencore, Narr remains encouraged by 24% of shareholders voting against Glencore’s climate plan at last year’s AGM which showed there was a “sizable minority that were not super happy with the climate report”. At the meeting, the US$64.8
It will help investors get up to speed on the least-understood risk in the economy. “This strategy is designed for the real, system-wide adjustments that will make sure we’re not divesting, we’re investing in a climate resilient economy.” Further, only 9% have implemented a response to their physical risk exposure. “It
To achieve the Agreement’s goal of net-zero emissions globally by 2050 , we must significantly boost energy efficiency and greatly accelerate the global transition away from fossil fuels, and toward new fuels such as green hydrogen and renewables such as wind, solar and thermal.
We also reiterate our multi-year earnings per share CAGR of 5% to 7% from the mid-point of 2022 guidance to 2025, in large part driven by continued growth in the utility's investment programs, including obtaining a return of and on capital investments that will be recovered specifically through the next base rate case to be filed by year-end 2023.".
Perhaps more encouragingly, almost a fifth of shareholders voted in favour of resolutions calling on ExxonMobil and Shell to accurately disclose the role of asset transfers in their reported GHG emissions reductions, which would stop them claiming CO2 cuts from divestments.
All of this work to support divestment from extractive investments, and investments into community, ultimately has positive implications for climate, as well, said Collins-Swartz. Harris said Propolis is foregrounding energy efficiency and renewability by building net-zero housing, in partnership with local construction company NexBuild.
It is estimated that $15 trillion a year must be put toward green technologies to meet net-zero emissions. As climate data becomes more democratized, it will provide a better understanding of which ESG initiatives aid progress toward a net-zero world. trillion, even more investment is needed.
But developers who plan to start operating in 2025, including three hydrogen-based steelmaking projects, will need to reach a final investment decision in 2023 to start on time. The divestment movement will wane. In Europe, policy guidance on key subsidy mechanisms may take longer. million euros. Martin Tengler, hydrogen team leader.
Energy stocks lagged in 2024, which benefitedinvestors who have divested from fossil fuels. The anti-ESG movement scores a victory as net-zero financial alliance unravels Seven sustainable finance predictions for 2025 Our taxonomy is different from others, says Michael Yow, director of ratings at Corporate Knights.
As is their wont, many companies used the occasion to proclaim updated commitments — the buzzword du la semaine was "net-zero" with Walmart declaring a zero-emissions target by 2040 along with a big clean fleet promise and a pledge to "protect, manage or restore" at least 50 million acres of land and 1 million square miles of ocean by 2030.
In the weeks following the election, each of the firms targeted by the new letter announced withdrawals from climate-focused investment and finance coalitions, including the Net-Zero Banking Association (NZBA) and the NetZero Asset Managers (NZAM) initiative. billion with small and diverse vendors between 2023 and 2025.
The letter also seeks a net-zero electricity grid by 2035, a 50 percent target for electric vehicle sales by 2030, and a renewed commitment to international climate finance. Under the Paris Agreement, countries were only obliged to update their goals by 2025. trillion in assets, have committed to divest.
Major US investors are pulling out of climate groups like Climate Action 100+ (CA100+) and the Glasgow Financial Alliance for NetZero (GFANZ). Real money is coming out of sustainable funds by the billions. Since then, anti-ESG legislation has become a craze among Republican-controlled states.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content