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Corporate Knights calculates that the country needs to spend roughly 5% of GDP, or $126 billion per year, from 2023 to 2030 (with up to 80% of that coming from the private sector) if we’re to reach our climate targets. Corporate Knights' Climate and Economic Renewal Plan lays out six major greeninvestments.
The accelerated transition scenario assumes a significant increase in energy costs in the near term, and substantially greater initial greeninvestments, rising to €2 trillion by 2025, compared to only €0.5 trillion in the other.
H&M Group has set goals to source 100% renewable electricity in its own operations by 2030, and to achieve net zero emissions by 2040. They are enabling the construction of new, home-grown lower carbon energy infrastructure that supports energy diversification, grid reliability, and local economies.”
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements IKEA Invests $1.6
DESCRIPTION: MetLife’s annual Sustainability Report , released today, showcases how the company continues to integrate sustainability across its operations, including through its 2030 climate and 2030 diversity, equity and inclusion (DEI) commitments. billion by 2030. based insurer to achieve that status in 2016.
Reset Connect is the UK’s largest sustainability ecosystem and greeninvestment event which aims to help businesses understand how to strive to meet net zero targets and improve ESG results, as well as unearth any potential greeninvestment opportunities.
When I led Canada’s Social Investment Organization (SIO) in the early 2000s, one of our most important debates concerned the question of whether the organization should develop an industry-wide label for socially responsible investment, as sustainable investing was called back then.
. • Increase electric vehicle market shares to 100% of light vehicles and 75% of trucks, with 10 million EVs on the road by 2030 and a fully built-out trans-Canada fast-charging infrastructure, supplemented by 2,000 kilometres of new bicycle rights-of-way and infrastructure support. Ralph Torrie is the research director at Corporate Knights.
With the EU aiming to reach climate neutrality by 2050 and to cut greenhouse gas emissions by at least 55% by 2030, the bloc says the so-called taxonomy classification system is crucial to direct investments into sustainable energy. Energy use accounts for about three-quarters of the greenhouse gas emissions produced in the EU.
And won’t it make essential greeninvestments more difficult? The Bank of Canada believes that it needs to cool demand , enabling supply to catch up, and its way of doing this is to increase interest rates, even if it causes a recession, increases unemployment and makes those essential greeninvestments harder.
Total outstanding green debt finance at the end of 2023 was 1.7 Nonetheless, the PSF says there is still a significant investment gap, requiring at least 7-8% of GDP annually to be directed toward greeninvestments if 2030 and 2040 climate targets are to be met.
In the race to net zero, Victoria Judd, Counsel at Pillsbury Winthrop Shaw Pittman, explains how the US is lapping the UK and EU in stimulating its green economy. trillion of annual global investments may be required to achieve the emissions reduction aims for 2030, with possibly 70% coming from the private sector.
The new fund is launching with $400 million in commitments at its first close, with initial investors including Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan GreenInvestment Corp. for Carbon Neutrality, and the Bank of Fukuoka.
The European Union, China, the United Kingdom and about 20 other countries are developing such taxonomies as a way of discouraging greenwashing and channelling investment to the climate transition. The EU’s taxonomy has been particularly controversial because of its inclusion of natural gas and nuclear as “greeninvestments.”
Cryptocurrencies have been condemned over their environmental record at a time when traditional investments have been rapidly moving towards greener environmental, social and governance (ESG) values. So how long will it be until crypto earns its green credentials? RELATED: Ethereum goes green overnight.
Shell took third place, with 19%, but quintupled its greeninvestments (in wind, solar, hydrogen and EV charging) over 2021. Suncor invested 10.4% of its capital on green projects in 2022. But 2023 has been the year of oil industry backpedalling on renewables and doubling down on fossil fuels.
By properly tallying up climate investments, starting with the federal government and large corporations, Climate Dollars aims to establish an accurate baseline of where we are at now versus what is required to ensure that Canada meets its 2030 emission-reduction commitments.
As extreme weather events become stronger and more frequent, the Insurance Institute predicts that average annual severe weather claims paid by insurers in Canada will more than double between 2020 and 2030, increasing from $2.1 The transition to a low-carbon future, while necessary, introduces considerable investment risk.
by 2030, in cooperation with strategic offtake partners. The investment was led by Macquarie’s specialist GreenInvestments team (MAM GreenInvestments), and was made through the Macquarie GIG Energy Transition Solutions (MGETS) Fund. SkyNRG is looking to build dedicated SAF facilities in Europe and the U.S.
Macquarie Asset Management’s GreenInvestment Group (GIG) announced today the launch of VORN Bioenergy, an investment platform for the development, construction and operation of biomethane projects, established as the EU aims to significantly ramp investment in the space over the next few years.
Environmental groups complain that the group is rife with conflicts of interest in setting greeninvestment standards for themselves, given their considerable reliance on oil and gas business. The Canadian sustainable finance council comprises 25 institutions, including banks, pension funds, insurance companies and credit unions.
Japan has committed to reach net zero emissions by 2050, with an interim 2030 goal to reduce greenhouse gas emissions by 46% by 2030. In 2021, the government unveiled plans to roughly double the share of renewable energy to 36%-38% of the energy mix by 2030, from less than 20%.
BMW Group announced today that it will invest more than £600 million (USD$750 million) to transform its UK-based MINI Plant Oxford, transforming the site for all-electric production from 2030. The facility is gearing up to build two new all-electric MINI models from 2026, with 2030 volume planned to be entirely electric.
The transaction comes as Greece is positioned to significantly increase investment in clean energy over the next few years, with the country’s recently released National Energy and Climate Plan targeting renewable energy capacity of more than 28 GW by 2030, over double current levels, and accounting for 80% of its power mix.
The strategy includes plans to significantly ramp the deployment of renewable energy, including boosting offshore wind capacity to up to 50GW by 2030. We look forward to working with The Crown Estate and all our other stakeholders to take these new UK offshore wind development projects forward in support of that commitment.”
France-based Energy giant TotalEnergies announced today a new partnership with Macquarie’s GreenInvestment Group’s (GIG) Corio Generation and energy asset manager Rise Light & Power, for the joint development of Attentive Energy, a 3+ GW offshore wind project off the coast of New York and New Jersey. Coria and Rise acquired 27.7%
Per the European Investment Bank Group , the circular economy, thanks to technological innovation, would increase global resource productivity by 3%. By 2030 an extra two million new jobs related to the circular economy are estimated to be created in Europe. It will also create jobs.
By properly tallying up climate investments, starting with the federal government and large corporations, Climate Dollars aims to establish an accurate baseline of where we are at now versus what is required to ensure that Canada meets its 2030 emission-reduction commitments.
1 Represents responsible investments managed by MIM at estimated fair value as of December 31, 2022. 2 For definitions of responsible investments, impact investments and greeninvestments, please see pages 96 and 97 of the Sustainability Report PDF. 3 Annual investments in 2022.
ImpactAlpha, September 24 – The European Bank for Reconstruction and Development provides investment capital and advisory support on development initiatives across the Middle East, Southern and Eastern Europe and Central Asia. A The post ERBD raises $700 million to finance climate resilience projects appeared first on ImpactAlpha.
This turnabout has been most pronounced in the green bond market, where power utilities have, controversially, been adding nuclear energy as an option for green bonds. Is the nuclear industry using a smokescreen of net-zero to cover up its sustainability problems?
Key jurisdictions, including the European Union, the United Kingdom, Australia, Japan and China, are moving forward with taxonomies that will guide greeninvestment decisions and help avoid greenwashing. For greenhouse gas reductions alone, the scale of capital required is enormous.
H&M Group has set a goal to achieve net zero emissions by 2040, with interim targets to reduce absolute Scope 1, 2 and 3 emissions by 56% by 2030. As with most fashion retailers, Scope 3 value chain emissions, or those outside of a company’s direct control, account for the vast majority of the company’s emissions footprint.
Purposeful and predictable policy at home can position the UK financial services sector as a global leader in greeninvestment, driving further prosperity and growth, including in emerging financial services centres outside London.” Click here to see the full letter and list of signatories.
Under the “navigating the transition to a green economy,” planned actions include assessing the effects of transition funding on the monetary policy mechanism, assessing greeninvestment needs, analyzing the structural consequences stemming from the transition, and advancing the macroeconomic modelling framework, with a focus on climate aspects.
Macquarie Asset Management’s GreenInvestment Group (GIG) announced today the acquisition of BayWa r.e. AG’s specialist biogas platform, BayWa r.e. Bioenergy develops, constructs and operates biogas projects that provide biomethane and power to local energy companies, industrial companies and energy traders.
To maintain a chance to avoid the worst climate impacts, science says we need rapid, deep emissions cuts – at least 50 percent by 2030. We have limited time to transform investment patterns and capital allocation to avoid crossing tipping points that could lead to a hothouse earth.
Consequently, the court ordered the government to publish an updated net zero strategy within the next 12 months – suitably demonstrating how the UK will achieve its legally binding carbon budgets and commitment to cut emissions by more than two-thirds by 2030.
The SEEE said the new carbon neutral ETFs will further raise the ability of the capital market to service the economy’s green transformation and enable institutions and retail investors to contribute to greeninvestment. . China is seeking to achieve peak carbon by 2030 and carbon neutrality by 2060. .
The latitude given by the NZIA to member states to decide which projects get the magic ‘net-zero strategic’ label – thus qualifying for funding and permitting support – caused the World Wide Fund for Nature to describe the act as “hocus-pocus” that could undermine Europe’s 2030 targets. Just one more.
100 billion greeninvestment. Analysis conducted by UK100 and Siemens, shows that a £5bn investment by the Government could unlock £100bn of private sector investment toward meeting the Net Zero goals by 2050. Many of these are outlined in a framework of technical standards for retrofit, known as PAS 2035/2030:2019.
Last September, OTPP committed to reduce its portfolio carbon emission intensity by 45% by 2025 and 67% by 2030, compared to a 2019 baseline. Last year it held C$30 billion in greeninvestments, including in renewable energy (Equis Development), sustainable agriculture (Vayda), and real estate (Cadillac Fairview’s waste diversion efforts).
It had previously been possible to launch an EU environmental opportunities fund, claiming Article 8 classification under the Sustainable Finance Disclosure Regulation (SFDR) , while allocating as little as 10% of assets to demonstrably greeninvestments.
trillion required to achieve 2030 emissions targets. But Singapore and Vietnam made the most progress in reaching climate goals over the last year, as the region grapples to meet US$ 1.5
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