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In 2020, Shell announced a commitment to achieve netzero in its operations by 2050, and in 2021, the company launched its Powering Progress strategy , detailing how it will achieve its target to be a net-zero energy business by 2050 across Scope 1, 2 and 3 emissions, with initiatives including investing in renewable and clean energy solutions.
As the warming climate drives up temperatures and ignites wildfires across many parts of the globe this summer, a new study shows some of the world’s largest asset management companies have some of the smallest net-zero targets for their portfolios. . trillion in assets, came last at 4% net-zero assets under management.
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 sustainableinvesting was called back then.
This strategy supports Entergys commitment to achieving net-zero emissions by 2050 and helps customers meet their own environmental goals through the use of low- and zero- carbon power. Climate strategy Entergy is committed to achieving net-zero emissions by 2050. Read the full report here.
But with sustainability, there are reasons to be more forthcoming. Private companies are increasingly eager to report on their environmental, social and governance (ESG) performance and their sustainabilityinvestments amid the publics growing appetite for companies that are trying to be good corporate citizens.
DESCRIPTION: Sets interim targets of 1 GW solar by 2025 and netzero for operations by 2030. SAN FRANCISCO, June 22, 2022 /3BL Media/ - Prologis (NYSE: PLD), the global leader in logistics real estate, today announced its commitment to achieve netzero emissions across its value chain by 2040.
By 2040, the company has pledged to reach net-zero emissions in its operations, which will expand in an effort to help the city reach its own net-zero goals. Toronto Hydro estimatesit will invest $10 billion in climate infrastructure across the city EV charging, equipment renewal, etc. That now includes 7.6
This week in ESG news: Canada to require oil & gas industry to slash emissions; California’s climate reporting law survives legal challenge; Mizuho invests in climate solutions provider Pollination; new clean energy deals signed by H&M, Meta, Saint-Gobain; incoming EU finance Commissioner calls for sustainableinvestment labels, reduced SFDR (..)
Billion SustainableInvesting Mandate from SJP NetZero Investor Coalition Hits Pause After BlackRock Exit Exec Moves Mars Appoints Alastair Child as New Chief Sustainability Officer Barclays Head of Sustainability Steps Down Sodali Appoints Andrew Benett as New CEO
Canada is lagging in its efforts to drive private capital into sustainableinvestments to finance solutions on climate change and other environmental challenges. Freeland was attending the Sustainable Finance Forum, which was organized by Liberal MP Ryan Turnbull and featured a half dozen of her cabinet colleagues.
Gertler said U of T will divest from all direct investments in fossil fuel firms within 12 months, and divest from pooled investments by 2030. The university will allocate 10% of its $4-billion endowment to sustainableinvestments by 2025 (the “invest” side of DivestInvest).
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements HSBC Buys Biomass-Based Sustainable Aviation Fuel in Deal with Cathay Pacific, EcoCeres Alfa Laval Accelerates NetZero Goal by 3 Years to 2027 Mercedes-Benz Sharpens Sustainability Focus on 6 Key ESG Areas BlackRock, (..)
Among the key priorities outlined by the HKMA’s new agenda include directives for banks to reach netzero financed emissions by 2050 and to provide disclosures on climate risks and opportunities, and for the HKMA to incentivize sustainable finance innovation and to provide sustainable-financed training programs for finance professionals.
The federal government is pursuing new policies on procurement and low-carbon investment standards aimed at boosting the business prospects for companies committed to net-zero climate plans. The Canadian sustainable finance council comprises 25 institutions, including banks, pension funds, insurance companies and credit unions.
Investors’ willingness to deploy capital to fund the UK’s netzero transition is at risk, as recent policy signals have reduced confidence in the government’s commitments to its climate policies, according to a new letter sent to Prime Minister Sunak by a group of financial institutions managing £1.5
Investment management firm Fidelity International announced today the expansion of its sustainability team with two new senior hires, including Phil Cliff, joining from M&G Investments, and Aaron Hay, from Federated Hermes, as Directors, SustainableInvesting.
announced the launch of its new SustainableInvestments2030 Strategy, aimed at accelerating its transition to a netzero emissions portfolio, and including a new pledge to invest $100 billion in climate solutions by 2030.
It also encouraged the accelerated development of, and transition to, zero-emission building stock. Further, residential buildings would have to achieve a minimum energy performance rating of Class E by 2030 and Class D by 2033. CEE countries require 5.7
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
If done well and implemented quickly, these policy promises would make the financial sector more sustainable and help Canada reach its 2030 emission-reduction commitments. Yet many Canadian banks, pension funds, insurers and large companies still underinvest in clean energy and disproportionately invest in oil, gas and coal.
Ontario Teachers’ Pension Plan Board (OTPP), one of Canada’s largest investors, with over $240 billion in assets under management, announced today the appointment of Anna Murray as Senior Managing Director and Global Head of SustainableInvesting.
Multi-stakeholder dialogue seen as essential in unlocking capital for netzero solutions, as GSIA calls for development of national transition plans. Examples include reducing inefficient fossil fuel subsidies and driving investment to new low-carbon technologies, such as green hydrogen. C temperature pathway.
A significant majority of the world’s major cities have committed for all new buildings to be netzero by 2030 and all buildings to be netzero by 2050. But with approximately 80% of existing building stock set to still be standing in 2050, meeting this netzero goal is a huge challenge for the real estate sector.
In a statement supporting the resolution, BCGEU recommends the affiliated companies, Brookfield Business Partners and Brookfield Infrastructure Partners, reduce their portfolio emissions by 22% to 32% between 2020 to 2025, a target in keeping with the UN-backed Net-Zero Asset Owner Alliance. More RBC scrutiny. Canadian oil.
JetBlue’s most aggressive near-term emissions reduction target to-date, this science-based target aligns with the goals of the Paris Agreement and the growing airline’s own goal to reach netzero carbon emissions by 2040 – 10 years ahead of broader airline industry targets. Charting a path to netzero. Reducing Fuel Burn.
Investment management firm Fidelity International announced today a new focused sustainableinvestment approach, targeting four systemic themes, including nature loss, climate change, strong and effective governance, and social disparities, which will drive the firm’s engagement approach towards influencing positive change.
BlackRock Global Head of SustainableInvesting Paul Bodnar announced that he will be departing the firm, to join the Bezos Earth Fund. billion, and aims to fully disburse the $10 billion pledge by 2030. BlackRock has changed the way the financial sector thinks about sustainability.
Ashley Thomson, Global Witness’s US Senior Policy Advisor Similar concerns have also been raised by Tariq Fancy, BlackRock’s former sustainableinvestment chief, who criticised the firm for “misleading investors” by using the ESG label, calling it a “dangerous placebo”.
and longtime Ceres Investor Network member, announced a bold investment of $100 billion in climate solutions by 2030 to support its overall goal of achieving a netzero emissions portfolio by 2050. CalPERS set out this investment goal in the context of its comprehensive SustainableInvestments2030 Strategy.
Signals of change in the netzero transition this week show businesses advocating for strong climate policy in the finance, transport and land sectors. billion square feet of office space facing lease expirations before 2030, the report estimates that more than $3.3 There are also cost savings for tenants.
Financial organisations thus have a major role to play in the decarbonisation of the global economy, yet it is estimated that since the Paris Agreement 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.
Sustainableinvestment opportunities and risks are slowly beginning to emerge as Europe outlines its plans to rearm. The EC presented its Readiness 2030 white paper, outlining its strategic priorities for rebuilding Europes defence capabilities, and provided more detail on its 800 billion (US$867 billion) ReArm Europe plan.
C, and investee companies are not yet facing full scrutiny of their netzero transition strategies, posing challenges for institutional investors committed to decarbonising their portfolios in line with the Paris Agreement. Others might set a target for some or all portfolio companies to be netzero aligned by 2030.
Global financial services provider Allianz, a leading member of the UN-convened NetZero Asset Owner Alliance (NZAOA), has published a climate transition plan spanning both its investment and insurance arms in a bid to shape the market and increase transparency on its netzero pathway.
The standard setter emphasises internal decarbonisation, action-based targets as part of revamped netzero standard for corporates. Wyburd said that while carbon credits and removals can support the path to netzero, they must never be a substitute for internal decarbonisation.
In a 2023 report, the International Energy Agency (IEA) estimates that to meet net-zero goals, electricity’s share of total energy demand needs to double between now and 2030 to accommodate the electrification of transportation, building heat, industrial processes, agriculture and information technology.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements. KLA Commits to Cut Emissions in Half by 2030, Reach NetZero by 2050. HH Global Ramps 2040 NetZero Goal to 90% Emissions Reduction. ESG Investing.
This has included legislating a 2050 netzero target and setting a legally-binding target to reduce emissions by 43% by 2030 below 2005 levels. It will be important for taxonomies to include adaptation to further mobilise much needed investment in adaptation,” she told ESG Investor. billion (US$143.3
Million for Misleading SustainableInvestment Claims UK Sets Largest-Ever £1.5 Million for Misleading SustainableInvestment Claims UK Sets Largest-Ever £1.5
The new investment initiative follows the launch last year by Purolator of a set of climate-related targets, including goals to reduce Scope 1 and 2 emissions by 42% by 2030, and put itself on the path for netzero emissions by 2050.
Nordea’s STARS range features ESG integration into all fundamental investment decisions, with close coordination between portfolio managers and the firm’s Responsible Investment Team. Kirsty Jenkinson, Investment Director of CalSTR, said: “We are excited to expand our relationship with the team at Nordea Asset Management.
Credit Suisse announced today the publication of its Climate Action Plan for its investment businesses, outlining the strategies and actions to be taken by Credit Suisse Asset Management and Credit Suisse Wealth Management to achieve netzero across their portfolios by 2050. The time to act is now.”
This week in ESG news: Australia passes mandatory climate reporting law; Google signs carbon removal deal at landmark $100/ton price; Bain survey finds CEOs losing focus on sustainability as it becomes more important to consumers and corporate buyers; SEC fines Keurig over coffee pod recycling claims; Oracle launches sustainability data and reporting (..)
LGPS Central has stressed that its new NetZero Strategy for long-term emissions reductions will not be derailed by the UK government’s recent watering down of climate policy. This includes a 50% reduction of Scope 1 and 2 CO2e financed emissions by 2030 for listed equities and corporate bonds.
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