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Recent months have seen major moves on climate action by some of the world’s largest private banks, including JPMorgan Chase, HSBC and Morgan Stanley. Looking across their investments in different sectors and regions, more banks are considering how to reduce the carbon intensity of entire portfolios over time.
And then there are “sub-systemic” shocks, more localized climate-related impacts that “can undermine the financial health of community banks, agricultural banks or local insurance markets, leaving small businesses, farmers and households without access to critical financial services.” Sub-systemic shocks.
Fifth Third maintains a Climate Leadership score of A- from CDP for its efforts and disclosures related to climate change. The Company’s A- score placed Fifth Third in the top quartile of CDP’s Financial Services Activity Group. About Fifth Third. Fifth Third is among the largest money managers in the Midwest and, as of Dec.
Additional banks exiting the SBTi validation process include Societe Generale and ABN AMRO, according to media reports. In a statement provided by Standard Chartered, for example, the bank said that its net zero approach “seeks to support a just transition that encourages the economic and social development of our dynamic market footprint.”
Deutsche Bank announced the publication of its initial Transition Plan, outlining the bank’s methodologies, targets and achievements on its path to net-zero by 2050, across its own operations and supply chain, as well as financed emissions. This will allow us to continuously refine our own Transition Plan.”
This lesson on the importance of actionable data did not go unnoticed for those of us working on industrial decarbonization. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) — a variety of methods can be used for carbon accounting (CDP accepts 64 of them).
The report provides a detailed summary of the Bank's significant ESG and sustainability matters, threats, and performance data. ABOUT NBK NBK was established in 1952 and is the first shareholding company and a domestic bank within GCC to be locally founded. Currently, NBK is the leading conventional banking group in Kuwait.
Fifth Third maintains a Climate Leadership score of A- from CDP for its efforts and disclosures related to climate change. The Company’s A- score placed Fifth Third in the top quartile of CDP’s Financial Services Activity Group. About Fifth Third. Fifth Third is among the largest money managers in the Midwest and, as of Dec.
This week in ESG news: IBM study shatters “myth” that ESG harms profitability; PwC boosts nature and biodiversity capabilities; Starbucks certifies 3,500 environmentally sustainable stores; Hong Kong to require all issuers to report on climate; EU lawmakers adopt rules tackling deforestation in supply chains; Schneider Electric launches (..)
DESCRIPTION: Investors and regulators increasingly expect companies to have both a decarbonization strategy (greenhouse gas accounting, science-based targets, low-carbon transition plan) and a climate resiliency strategy (managing acute/chronic physical risks and regulatory/market transition risks). SOURCE: Antea Group.
Similarly, natural capital is our global bank of natural assets, including soil, water, air, and all living things. Similarly, in 2021 the World Bank published Nature Action 100 , a proposal for investor engagement on biodiversity. For instance, this year’s CDP climate questionnaire featured a brand-new section on biodiversity.
Signals of change in the net zero transition this week include a major industrial decarbonization project in Germany and carbon-capturing tequila in Mexico. Japan, alongside the other G7 countries, committed last year to largely decarbonize their power sectors by 2035, but Tokyo has yet to map out a clear path for the goal.
And a consortium of major businesses including Coca-Cola, DPD and Diageo have set up an updated initiative focused on the decarbonization of heavy goods vehicles (HGVs) across Europe. It aims to spend the next six months exploring the challenges related to HGV decarbonization and co-developing potential solutions.
As customers demand greener products and services, investors seek out the next big climate solution, and governments legislate to cut emissions, companies know they need to decarbonize, and fast. Ambition: Has the company set the right decarbonization targets? The new financial regulatory developments in the U.S.,
France has put forward its own plan to support a decarbonized reindustrialization of the country. CISL says this is a ‘crucial piece’ of the energy decarbonization puzzle which can help G7 countries meet commitments made last month to accelerate the clean energy transition.
The bank, which has a target of 80% reduction in its oil exploration financing by 2030, also confirmed this week that it was currently on track with its climate change targets for the power generation, oil and gas, and automotive sectors.
Priorities during the first phase of Taylor Wimpey’s plan include improving home energy efficiency, procuring renewable electricity for new sites, finding alternatives to diesel generators and decarbonizing supply chains for key materials. US-based software company Toyo Seikan Group Holdings, Ltd.
The rich dialogue during the conference last week likewise had my chat-mate convinced that ESG concerns will catalyze long-term systemic change across the banking and financial services sector. We believe decarbonization is a business strength which is accelerating … We think in many industries, the companies embracing green will win.
Save Tomorrow’ campaign, co-chaired by the Barbados Prime Minister Mia Mottley, calls for the World Bank and wealthy countries to speed up pledges to mobilize climate finance ahead of a conference on the topic hosted by France in June. The ‘Power Our Planet: Act Today.
Those whose jobs involve toiling over the clichéd "alphabet soup" of reporting frameworks — from CDP to CDSB and beyond — probably would like to see a reporting "singularity" realized. Weeks later, the Goliath asset manager warned of voting against companies that resist disclosing their climate risks or decarbonization plans.
This week in ESG news: CFA Institute launches climate investing certification; BlackRock invests $550 million in carbon capture project; CDP to align with European sustainability reporting standards; KKR raises nearly $3 billion for impact fund; France bans fossil fuel companies from responsible investment funds; GRI, IFRS launch hub to help companies (..)
CDP Reports Surge in Companies Disclosing Environmental Data as Mandatory Reporting Nears. EY, Microsoft Partner to Develop Decarbonization and ESG Data Solutions. Lloyds Bank Becomes First in UK to Commit to End Financing of New Oil & Gas Projects. Guest Post: Putting Climate Disclosures on a Level Playing Field.
Million Exec Moves Caterpillar Appoints George Moubayed as Chief Sustainability Officer Reports, Surveys & Studies Climate Tech Investment Falls in Tough Market, But Hits Record Share of VC and PE Funding: PwC 80 Million Kilometers of Grid Investment Needed by 2040 to Meet Global Climate Goals: IEA
And this year’s Global Supply Chains Report from CDP has shown which companies took the necessary action on supply chain emissions in 2022. Of the more than 18,500 companies disclosing to CDP in 2022, roughly 7,000 said that they engaged their suppliers on climate change issues. million homes. million homes. German energy giant E.ON
Cities Government & Regulators Australia to Launch Decarbonization Plans for Key Sectors Biden Launches $20 Billion Climate and Clean Tech Project Financing Programs Australia Releases Rules for Sustainability Claims to Fight Greenwashing by Companies ESG Reporting & Disclosure Norway’s $1.3
Net zero signals of change this week include billions of euros for industrial decarbonization in Germany. The Institutional Investors Group on Climate Change (IIGCC) has launched a new standard setting out expectations for credible net zero plans in the banking sector, and will publish their first assessment of banks this summer.
A new report from the Asian Development Bank has found that the benefits of transitioning to net zero greenhouse gas emissions for countries in developing Asia would outweigh the costs fivefold, if effective policies are implemented.
And over additional 40 businesses have signed the World Green Building Council’s commitment to decarbonize the built environment across their portfolios and business activities. At COP26, focus turned to industrial decarbonization, with several key developments across the harder-to-abate sectors. . Business Ambition for 1.5°C
The newly anointed group sustainability chief for one of Europe’s largest banks, HSBC — a role she will assume in July — London-based Celine Herweijer is a familiar feature in the continent’s corporate climate movement. President Joe Biden announced his support for that philosophy just one week after taking office in January.
CDP to Integrate IFRS’ Climate Disclosure Standard. Deloitte, Persefoni Partner on Carbon Measurement Solutions for Banks & Insurers. KKR Invests $400 Million in India-Based Industrial Decarbonization Platform Serentica Renewables. Apollo, Oak Hill Launch ESG Disclosure Initiative for Private Credit Market.
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