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Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. Stephen Woodford, CEO of the Advertising Association in the United Kingdom, believes it therefore is becoming increasingly untenable for advertising, PR and lobbying firms to engage in blatant greenwashing on behalf of fossil fuel clients. "I
Slow-to-change investors and greenwashers in the business community will lose their cover to continue propping up the fossil fuel economy. Sustainable investments should grow as divestment from carbon-intensive industries intensifies. Featured in featured block (1 article with image touted on the front page or elsewhere).
This week in ESG news: 100% of large companies expect to be required to report on sustainability, but less than a third are ready for ESG data assurance, KPMG finds; Microsoft buys nearly 1 million tons of nature-based carbon removal credits; BlackRock launches new suite of low carbon transition ETFs; GRI launches standards to report on company impact (..)
Indeed, nearly half (49%) of investors globally would divest from companies that are not taking sufficient action on environmental, social, and governance (ESG) issues. For example, when customers visit Trilogy Fashion’s website, they can view the carbon emissions associated with the production of each article of clothing.
McMurdo anticipates more such rebellions this year, which he says reflects the pervasive greenwashing evident in net zero plans. Disputing divestment. We cannot just divest from fossil fuels; we need a fair and just transition to the net zero economy.”. And McMurdo’s caution about divestment is not limited to the energy sectors.
Renaming trend may lead to a short uptick in greenwashing, but ultimately will accelerate the path to net zero and offer sustainable investors more choice. The decision to rebrand a fund often raises eyebrows, with investors “intuitively suspicious” of the activity due to greenwashing concerns among others.
Within the SFDR, Article 9 funds represent a significant opportunity for investors that look for rapid abatement and sustainable land use practices combined with strong returns on investment in the medium to long term. SFDR offers three main classifications: Article 6, Article 8, and Article 9.
To help lift some of this pressure, in this article, I summarise important research on the effectiveness of ESG engagement and what is required to increase it. “No If divesting from harmful industries, communicate this publicly. No man is an island”. Vote shares and engage with investees and screen holdings on transparent ESG criteria.
Large institutional investors have taken divergent approaches to managing the climate risks in their portfolios, with some pension funds divesting fossil fuel holdings. Nietsch agreed: “Nature issues tend to be so complex and systemic that divestment may have less of an effect than it might for climate.
From 2021 to May this year, 22 investors, including banks and pension funds, have divested from JBS or its subsidiaries, citing its links to biodiversity loss and governance issues, according to the Financial Exclusion Tracker project. This article was originally published by Global Witness. JBS is widely regarded as an ESG pariah.
The increased scrutiny over greenwashing is necessary, and will provoke the market to favor substance over style. The finance industry will also realize that truly green assets – like those meeting EU’s Article 9 category – are too few to green the entire economy. The divestment movement will wane. Wed, 01/11/2023 - 14:05.
And the mayors of 12 cities — representing 36 million residents — announced their plans to divest from fossil fuels. While I am grateful for every company that commits to taking practical, meaningful, un-greenwashed action, the common thread of the visions advanced above is that they set the bar higher — even if just a little bit.
ESG-labelled funds are facing increasing pressure on several fronts, while Article 9 withdrawals suffer record levels. The expected removal of Article 8 and Article 9 from the disclosure regime and the creation of new sustainability categories herald a complete reshaping of the EU’s ESG fund market, Bioy argued.
ESG-labelled funds are facing increasing pressure on several fronts, while Article 9 withdrawals suffer record levels. The expected removal of Article 8 and Article 9 from the disclosure regime and the creation of new sustainability categories herald a complete reshaping of the EU’s ESG fund market, Bioy argued.
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