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HSBC is latest bank to pledge net-zero financed emissions by mid-century. HSBC has become the latest bank to commit to achieving net-zero financed emissions, announcing Monday that it intends to align its portfolio of investments and debt financing with global climate targets by mid-century. Cecilia Keating.
Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.
With more than one quarter of the globaleconomy committed to achieving net-zero emissions over the coming decades, it follows that the shipping sector will be under increased pressure from governments and private players to clean up its act. It is also working to introduce net-zero emissions ships in U.K.
Net-zero" became a key commitment during 2020 — goals that aim to eliminate, at least on paper, a company’s greenhouse gas emissions, water extractions, fossil-fuel use or deforestation activities by a given date. Featured in featured block (1 article with image touted on the front page or elsewhere). Sponsored Article.
Lehman said these sectors were picked because of their outsized potential to decrease the carbon footprint of the globaleconomy, pointing to estimated emissions reductions related to transitioning to clean energy and to industrial production. Featured in featured block (1 article with image touted on the front page or elsewhere).
Manufacturing is going electric, too, as companies ratchet up their net-zero-carbon goals. All of these represent the surest pathways toward decarbonizing the globaleconomy, and all are ramping up to meet the commitments by governments to align with the goals of the Paris climate agreement. Sponsored Article.
With ESG gaining more attention and more companies committing to reaching net-zero emissions in the coming decades or otherwise pledging to do better by people and the planet, it’s inevitable that the next generation of professionals in the field will define the future of sustainable finance. Sponsored Article. Deonna Anderson.
This article was first published in Edie. The transition to a just, resilient, net-zero future is not possible without small and medium-sized businesses, known as SMEs. They are the engine of today’s economy and the backbone of global supply chains, accounting for about 90% of all businesses and around 70% of jobs worldwide.
The COP28 decision text, released Wednesday morning, included language about “transitioning away from fossil fuels in energy systems” and “reducing both consumption and production of fossil fuels in a just, orderly and equitable manner so as to achieve netzero by, or before, or around 2050 in keeping with the science”.The
While some recognise carbon offsets markets as key for us to achieve net-zero emissions world by 2050 by funnelling cash into cost-effective projects, others believe credits are a dangerous distraction that allows polluters to pay their way out of the problem. 1 – 1.5ºC emission pathway (Source McKinsey & Co).
Lenovo is committed to achieving Net-Zero emissions by 2050 and our sustainability efforts start with our own manufacturing and supply chain. Manager, GSC Global Manufacturing at Lenovo, explains: “To help measure our progress toward Net-Zero, our goal is to reduce Scope 1 and Scope 2 greenhouse gas [GHG] emissions by 50% by 2030.
To decarbonize the globaleconomy in alignment with the goals established by the Paris Agreement, all economic actors in the real economy need to reduce their greenhouse gas (GHG) emissions sufficiently to align with required emissions pathways. Foundations for a Financial Institutions SBTi Net-Zero Target Standard.
HP has reported on its Sustainable Impact goals and progress for more than two decades and was among the first companies globally to publish its complete carbon footprint over 10 years ago. The company is aiming to halve greenhouse gas emissions by 2030 and reach net-zero emissions by 2040. The company reported that $3.5
By: Bruno Sarda, TMT Climate Change & Sustainability Services Leader, Ernst & Young LLP Leaders from across the globe recently reconvened for the World Economic Forum’s 53rd annual meeting in Davos, Switzerland, and covered everything from the COVID-19 pandemic and the war in Ukraine, to the state of the globaleconomy and more.
Unfortunately, surging inflation, a global energy crisis and a constant threat of recession cut out a few of our expectations. In this article, I’ll summarise key events defining 2022 and present four sustainability trends that will prepare you to create an impact in 2023. Sustainability trends 2023: Net-Zero roadmaps.
A critical issue right now is how we safeguard the freedom of financial institutions to invest in the companies planning for the netzero future. In recent weeks, several insurers have quit the NetZero Insurance Alliance, part of the Glasgow Financial Alliance for NetZero (GFANZ), after attorneys general from 23 U.S.
Jordan Locke, a recruitment consultant in Acre's Global Sustainable Finance & Impact Investing Team, sat down with Business Insider alongside a group of industry experts to discuss the current ESG talent shortage, ‘greenwashing’ and the rapid pace of change. . Written by Rebecca Ungarino | 26th January 2022.
Julie Segal, Visiting Fellow at the London School of Economics’ Grantham Research Institute on Climate Change & the Environment, outlines the c hallenges and opportunities of the Paris Agreement’s Article 2.1(c). Aligning investments with climate change mitigation and adaptation goals, as required under Article 2.1(c) Article 2.1(c)
To address this, it has been suggested that new categories – not based on Article 8 or 9 of SFDR – are established including one for products with a transition focus aiming to bring measurable improvements to the sustainability profile of the assets they invest in.
C within reach, and to transition to a net-zeroglobaleconomy by 2050 at the latest. Finalize rules for the Global Stocktake that are evidence-based, driven by ambition, enhance accountability through reporting, and ensure inclusivity through local government, society and business participation. . .
A shorter version of this article originally appeared on Reuters Sustainable Business. Speaking at COP27 in Egypt last year, UN Secretary General António Guterres was clear: “the criteria and benchmarks for… netzero commitments have varying levels of rigor, and loopholes wide enough to drive a diesel truck through.
A version of this article first appeared on Harvard Business Review. . COP26 focused the attention of governments and businesses on a key targe t: limiting global temperature rise to 1.5C by halving global emissions by 2030. Glasgow saw agreement on Article 6 finally reached, meaning that carbon markets are here to stay.
‘Degrowth’ Provides a New Alternative for Business and Society This article by Charles Duprez is part of “The Basics” series by the Network for Business Sustainability (NBS) that provides essential knowledge about core business sustainability topics. Our globaleconomy is built for growth.
Editor’s Note: This article was first published by the Environmental Defense Fund, an organization focusing on creating economical policies to support clean air and water; abundant fish and wildlife; and a stable climate. The article was authored by Amanda Leland and originally appeared here. This is a welcome step. on climate action.
This article orignally appeared on We Don’t Have Time. The challenge to keep global warming below 1.5°C When we discuss scale, we cannot afford to ignore the millions of small and medium sized businesses – or SMEs – that drive globaleconomies and create the fabric of local communities.
This article first appeared in Business Green. Businesses, as the linchpin of the globaleconomy, are vital actors in ensuring the world meets its shared goals for climate action. Carbon markets can be a vital mechanism for raising corporate climate ambition – but they must be made more robust.
As in the rest of the private sector, where at least 20% of the world’s 2,000 largest public companies have committed to achieve netzero emissions by 2050, many leading investors are also focused on reducing carbon emissions. Going Beyond NetZero Emissions. Paris Agreement alignment is a holistic process.
This article originally appeared on SME Climate Hub. Over the coming two weeks, business, government, and civil society will convene in Sharm El-Sheikh, Egypt for the COP27 Climate Summit, to align on climate policies and actions needed to decarbonize the globaleconomy. Go all in to finance the global transition to netzero.
The Net-Zero Standard launched by the Science Based Target initiative (SBTi) at COP26 now provides a credible and independent assessment of corporate net-zero target setting and enables companies to align their near- and long-term climate action with limiting global warming to 1.5°C.
Airports and the aviation industry are central to the growth of globaleconomies, connecting markets, communities and people across the world. of global carbon emissions being produced, ESG must become a central tenet of the aviation industry if growth is to continue. However, with circa 2.5% MtCO2e by 2050.
The UK government has set a target of achieving netzero emissions by 2050. The UK’s commitment to achieving netzero in general is enshrined in the Climate Change Act of 2008 (as amended). To help achieve this, it has introduced mandatory climate-related disclosure requirements for large UK companies.
Global asset manager Federated Hermes has launched a Biodiversity Equity fund, with insights from the UK’s Natural History Museum. Managed by Ingrid Kukuljan, the firm’s Head of Impact and Sustainable Investing, the fund is classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation (SFDR).
We know that unprecedented change is required to our globaleconomy. Increasing their overall resilience to the risks associated with climate change, while meeting their obligations around sustainability, should be a key strategic priority for organisations as we move towards netzero and a nature-positive world,” said Faull.
HSBC Asset Management (HSBC AM) has launched the HGIF Global Equity Circular Economy Fund, which will invest in up to 60 companies that are enabling the transition to a circular globaleconomy. US investment manager Franklin Templeton has unveiled a new social-focused bond fund.
By stepping up their climate ambitions and backing them with concrete commitments, the G7 can catalyse a surge in global investment and reinvigorate their economies. G7 countries make up approximately 38 per cent of the globaleconomy and were responsible for 21 per cent of total greenhouse gas emissions in 2021.
The fund will be classified as Article 9 under the EU Sustainable Finance Disclosure Regulation with “significant alignment” to eight SDGs. Invesco has launched its Invesco Environmental Climate Opportunities (ECO) Bond Fund , which offers UK investors income and growth while supporting the transition to a low-carbon globaleconomy.
This article was first published in Financial Times’ Sustainable Views. Agreements by nations working together to address global challenges can feel painfully slow, often weighted down by bureaucracy and dominated by the interests of the most powerful.
The announcement indicated an emphasis on “high emission sources”, which suggested oil and gas production, and the Vegan Society said it was disappointed that “there has yet to be any global commitment on reducing methane from agriculture.”. Carbon trading.
Firstly, the globaleconomy is in the midst of the clean energy transition, one of the biggest changes to an economic system since the second industrial revolution, which introduced mass production in the late 19 th and early 20 th century. Dynamic market expansion. EVs require 2.5
Climate scientists have unambiguously told us how to avoid the grimmest consequences of climate change: achieve net-zero emissions by 2050. Our goal is to take this 'whole-of-government' approach and turn it into a 'whole-of-economy' approach. My goal at Treasury is to support this work with a whole-of-economy approach.
Consequently, it is helpful to reflect on fundamental principles—and how decisions aligned with those principles can help create long-term value with diverse, global stakeholders. In January, a Latitude Media article highlighted a Princeton study that asserted too broadly that EAC procurement does not cause new renewable energy.
‘Opportunity of a lifetime’ In her speech to the House of Commons Tuesday afternoon, Freeland framed the 2023 budget as part of “the most significant economic transformation since the Industrial Revolution,” in which Canada’s major trading partners are investing heavily in the clean economy and net-zero industries.
Let’s begin with a few headlines: Southern Company commits to net-zero emissions by 2050. Microsoft committed to protect more land than it operates on globally by 2025. Shell plans to achieve net-zero emissions across its product manufacturing operations. Sponsored Article. When the U.S. Fair enough.
At Ceres, Bob founded the Investor Network on Climate Risk and co-founded the Global Reporting Initiative (GRI) which has helped shape the field of corporate sustainability and now emerging mandatory requirements for Environmental, Social, and Governance (ESG) reporting.
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