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A coalition of environmental groups is calling on the federal government to regulate climate commitments made by banks and other financial institutions to avoid greenwashing and accelerate change. . The post Advocates urge regulation of banks’ climate commitments to avoid greenwashing appeared first on Corporate Knights.
While linking corporate debt to sustainability targets sounds like a great way of incentivizing companies to make environmental, social and governance (ESG) improvements, a lack of standardized rules has quickly opened the door to greenwashing, with some companies using the funds to continue business as usual with little ESG impact. .
The International Organization for Standardization (ISO) announced that it has commenced work on the development of a new international standard on netzero, aimed at providing clarity and credibility to organizations’ netzero targets and strategies, and to guard against greenwashing.
New nature legislation and updated modern slavery act are also key priorities ahead of 2025 federal elections. This has included legislating a 2050 netzero target and setting a legally-binding target to reduce emissions by 43% by 2030 below 2005 levels. The plan, which has taken A$27.4
RELATED Canadian investors stand firm on ESG despite greenhushing trend, report finds The anti-DEI movement confronts an unlikely opponent: big banks Meet the four most sustainable funds on the market for 2025 Deadlines to submit reports starting in 2026 will be pushed back to 2028.
Cancelling oil industry greenwash There’s a growing consensus that the PR companies involved in greenwashed campaigns need to be held to account. There is still no regulatory consensus, for instance, on what conditions have to be met to label something “climate-neutral” or “net-zero.”
Tim Nash, founder, Good Investing Morningstar says that after three years of high growth, managers are being more selective and tactical in their approach ahead of anti-greenwashing regulations in the United Kingdom and Europe. 83% 2024-07-31 100 Desjardins RI Developed ex-USA ex-Canada - Net-Zero Emissions Pathway ETF (DRMD) 94.9%
That is why we have set externally validated (SBTi) 2030 climate targets, and a goal to be NetZero by 2050, and are taking action.” The Stand.earth complaint outlined a series of alleged “false or misleading public representations” made by lululemon in the context of its Be Planet program. “We
Dr Rory Sullivan, CEO of Chronos Sustainability, considers what a reshaped world means for sustainable finance in 2025. The world will look very different in 2025. The economics support sustainability One of the reasons for optimism in 2025 is because many of the actions we want to encourage are already supported by the economics.
By: Priyanka Bawa , Senior Analyst in the Verdantix ESG & Sustainability practice Despite more netzero targets being set than ever before, and more science-based targets being used to back them, 2022 research from South Pole shows that one in four businesses do not intend to talk about their science-aligned climate targets.
The ruling referred to ads displayed in bus stops in London and Bristol in October 2021, in the run-up to the COP26 climate conference, promoting HSBC’s initiatives to provide up to $1 trillion in finance and investment to help clients transition to netzero, and to help plant 2 million trees.
COP28 may have not delivered all it promised, but investors now have a clearer idea of how the path to netzero will impact their portfolios. The first-ever mention of “transitioning away from fossil fuels” in COP final text was regarded as a major milestone on the path to netzero, even by those who acknowledged its multiple caveats.
This week in ESG news: Microsoft signs record-breaking carbon removal deal; EY survey finds over half of CEOs say sustainability a higher priority vs one year ago; BCG sustainable aviation deal to cut 100,000 tons of emissions; ERM launches carbon credit consulting business; KKR & HASI launch $2 billion sustainable infrastructure investment partnership; (..)
Portfolio-wide commitments to netzero emissions have surged among Asian investors, according to a new study from The Asia Investor Group on Climate Change (AIGCC). A total of 40% of survey respondents had committed to netzero emissions, compared with none the previous year. Barriers to investment.
When Coca Cola – the world’s biggest plastic polluter , was announced as one of the sponsors for COP27 this year – the world’s largest climate change conference, it sparked a wave of greenwashing accusations. NetZero Plastic to Nature addresses both challenges. On the face of it, the backlash was justified.
Million to Improve Home Energy Efficiency Sustainable Investing Invesco Launches New Climate ETF with Record-Breaking $2.4 Million to Improve Home Energy Efficiency Sustainable Investing Invesco Launches New Climate ETF with Record-Breaking $2.4
Code of conduct for ESG ratings and data providers, grant schemes for transition bonds and loans, and ISSB-aligned disclosures included in action plan. The Monetary Authority of Singapore (MAS) has launched a netzero transition financing plan as part of the city-state’s climate and sustainability agenda.
As the focus sharpens on how governments and businesses are turning netzero commitments into action, We Mean Business Coalition, CDP, Ceres and Environmental Defense Fund have this week released a new report to help companies accelerate their climate journey – via credible climate transition action plans (CTAPs). of warming.
Published yesterday, the NESO’s Clean Power 2030 report identified two primary clean power pathways to achieve the UK government’s goal of netzero electricity generation by 2030. billion of funding in 2025‑26 for CCUS Track-1 projects to decarbonise industry, as well as contracts with 11 green hydrogen producers worth around £2.3
Net-zero emissions companies is one of the fastest-growing business trends. According to scientists achieving net-zero before 2050 is critical to keeping us safe from the catastrophic consequences of climate change. Still, many organizations struggle to make their first steps to become Net-Zero companies.
Join thousands of companies seizing the opportunities of climate action for a netzero, 1.5°C-aligned To ensure we halve global emissions by 2030, companies need to set science-based targets , following the NetZero Corporate Standard , including five to ten-year targets for deep, rapid emissions cuts across their value chains.
Reaching netzero by 2050 means deploying future technologies to store and remove the harder-to-abate emissions we can’t address today. Or is it one of the low-carbon technologies that will be required to reach netzero? One of these technologies is carbon capture, utilisation and storage (CCUS).
The government committed to netzero in the Climate Change Act 2008 and is under a legal obligation to deliver on the carbon reduction targets therein. This could bring with it accusations of greenwashing and/or changes to the operation of existing strategies, which could be costly and cause disruption to existing investments.
billion) in green industries aimed at accelerating manufacturing in key netzero sectors, in addition to a new series of significant reforms designed to rapidly boost the capacity of its electricity grid to address energy transition needs over the coming decades. The UK government announced plans to invest £960 million (USD$1.2
At 28, Kurtis Layden, senior policy advisor in the Office of the Minister of Environment and Climate Change, has been a key advisor on the federal ban on some single-use plastics, taking effect in 2025. Once the ban takes effect in 2025, it could eliminate an estimated 1.3 million tonnes of plastic waste over the following decade.
Regulatory pressure over greenwashing increases as deadlines approach for widespread incorporation of sustainable fuel. Any attention in this area is fraught with risk; even where there has been no greenwashing, the reputational damage is done when the accusation is made and it is hard to fix.”
Modi feels the heat – Conducted in record temperatures , the world’s biggest exercise in democracy dealt a blow to the ego of incumbent Prime Minister Narendra Modi, but it’s less clear how the outcome of India’s general election will impact its netzero transition. billion) in green sovereign debt.
The reality is that nearly 60 percent of Fortune 500 companies still have no netzero strategy in place. report clarified that, by 2025, at least 1 billion metric tons of the annual emissions reductions needed must come specifically from protecting tropical forests. We simply must invest in keeping forests standing.
Regulatory pressure on airlines over greenwashing increases as deadlines for widespread incorporation of sustainable fuel approaches. Any attention in this area is fraught with risk; even where there has been no greenwashing, the reputational damage is done when the accusation is made and it is hard to fix.”
Discussions on a New Collective Quantified Goal (NCQG) on climate finance for the post-2025 period, which made little progress at COP28, should progress at next week’s Bonn Climate Conference, where the agenda will also include carbon credits , adaptation finance and the Global Stocktake, ahead of COP29.
As the voice of progressive business, We Mean Business Coalition is calling on governments to urgently deliver on the $100 billion commitment and make progress on post-2025 climate finance plans. Will a company’s investment take it a step closer towards a netzero world, or will it be a stranded asset tomorrow?
The transition to a netzero economy is underway but – as the UN Intergovernmental Panel on Climate Change warns – far greater efforts are needed from governments and business to limit global warming to 1.5°C C and avoid the most disastrous impacts of climate change. CTAPs aren’t just for the largest corporations though.
However, carbon markets participants have recently had to develop more rigorous practices following widespread accusations of greenwashing and limited positive environmental impact. It’s consultation on changes to the standard is due to complete by the end of 2025. “It’s
We outline below some of the more common initiatives being driven by landlords and tenants alike and raise some of the issues arising from them, namely electric vehicle (EV) charging point installations; photovoltaic (PV) cell installations; and netzero obligations as part of green leases. Green leases and the move to netzero.
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.
At least part of the plan is to learn from the mistakes made with voluntary carbon markets – still viewed with suspicion as the most public and unacceptable face of greenwashing , only now retrieving their reputation and potentially on track to achieving their potential.
This requires regulators, as well as the public and private sectors, to outline pathways for key sectors , so that investors and lenders know how to finance the transition without being accused of greenwashing. Van der Wekken anticipates this will happen in the second quarter of 2025.
A Target-Measure-Act approach, developed by WRAP, ensures rigorous evaluation of progress, giving transparent and publicly reported updates against targets to avoid greenwashing.” In practice, not all plastic packaging will be recycled through local authority collections by 2025. in just three years.
A 2022 PwC report noted that investors globally are expected to increase their ESG-related assets under management across mandates, mutual funds and private markets to US$33.9 trillion by 2026, up from US$18.4
The Voluntary Carbon Markets Integrity Initiative (VCMI) was established in 2021 in response to concerns that companies making carbon neutrality claims based on their use of carbon credits to offset their emissions were greenwashing. The final Scope 3 Claim is expected to be released in Q1 2025.
In 2025 the EU Taxonomy will reach a milestone, marking the first full year of Taxonomy-alignment reporting for non-financial companies against its environmental objectives, alongside the first reports under the Corporate Sustainability Reporting Directive (CSRD) for the largest EU companies.
By 2025, 1300 registered companies in the UK must disclose climate-related financial information. It aims to eliminate the “greenwashing” of financial products and advice and steer investments towards a sustainable economy by enabling informed financial decisions. GFANZ — Glasgow Financial Alliance for NetZero.
The political phase will see its first output in the decisions taken at COP28, but it will also inform the next set of nationally determined contributions, the climate pledges to be made by parties in 2024 and 2025. The post Take Five: From Paris to Dubai, via Bonn appeared first on ESG Investor.
If there is to be any hope of achieving the UK government’s target of netzero emissions by 2050, the carrot of the promised ‘Green Industrial Revolution’, creating jobs and business growth opportunities, will not be enough. In part, this shift has been driven by the regulators.
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