article thumbnail

Germany Pushes to Delay CSRD Sustainability Reporting Requirements for Smaller Businesses

ESG Today

Beyond the CSRD, Kukies highlighted other sustainability reporting obligations that companies have to meet, such as the European Banking Authoritys recently released ESG reporting requirements for banks, which he said will require even small banks to request information from clients, which triggers a new wave of bureaucracy.

Banking 113
article thumbnail

NBIM Acquires $1.5 Billion Stake in Offshore Wind Projects from RWE

ESG Today

Norges Bank Investment Management (NBIM), the investment manager for Norways $1.8 Nordseecluster is being built in two phases, with construction at sea scheduled to begin in 2025, full commissioning for the first phase planned for 2027, and for the second phase in 2029. billion (USD$1.5

Banking 74
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

BBVA Raises Sustainable Finance Goal to More than $700 Billion by 2029

ESG Today

Spanish Bank BBVA announced the launch of a new goal to channel 700 billion (USD$735 billion) in sustainable finance between 2025 2029, with a focus on climate change and inclusive social development projects.

Banking 69
article thumbnail

Canada Pushes Back Requirement for Banks, Insurance Companies to Report Financed Emissions by 3 Years

ESG Today

In addition to extending the timeline for financed emissions, OSFIs update also included an implementation date for the disclosure of off-balance sheet emissions, such as those from capital markets activities, with reporting set to begin on fiscal year 2029.

Banking 110
article thumbnail

ECB warns fossil-fuel-exposed banks they risk €21bn in annual losses by 2029

Environmental Finance

The European Central Bank (ECB) has delivered its starkest warning to-date of the damage a delayed transition to a net zero economy would inflict on the financial system.

Banking 49
article thumbnail

EU Lawmakers Agree to Ramp Emissions Reduction Requirements for Road, Ag and Buildings Sectors to 40% by 2030

ESG Today

Flexibilities that can be used by member states include banking and borrowing emissions reductions between years, and trading emissions reduction allocations among the states. of allocations until 2025, and up to 5% from 2026 – 2030.

article thumbnail

MEPs Under Pressure to Raise ETS Ambition

Chris Hall

Last week’s compromise proposal, with its staggered removals, would have resulted in more emissions in the short-term, noted Samar Pratt, President of Advisory Solutions at Exiger, a provider of risk management SaaS solutions to corporations, government agencies and banks. . “It

Banking 98