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April 8, 2025 /3BL/ - Sustainability is facing an unprecedented confluence of political, economic, social, technological and environmental forces that are disrupting the profession and urgently require a new approach to events and collaborative problem solving. OAKLAND, Calif.,
Additionally, Truist Foundation will grant $400,000 to the Center for Disaster Philanthropy's (CDP) Atlantic Hurricane Season Recovery Fund for Hurricane Ian. commercial bank with total assets of $545 billion as of June 30, 2022. Truist Bank, Member FDIC. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S.
In September, five of the leading reporting groups (CDP, CDSB, GRI, IIRC and SASB) issued a statement of intent to work together to create a comprehensive global corporate reporting system and a mere two months later, IIRC and SASB announced an intent to merge to become the Value Reporting Foundation. .
Which is why GreenBiz Group is pleased to announce GreenFin 21 , the launch of a new annual event, virtual for now, taking place April 13-14. GreenFin will join our other annual event brands — GreenBiz , Circularity and VERGE — on the sustainability conference calendar. I hope you’ll join us for this landmark event. Pull Quote.
"Finance professionals make up a fraction of the global population but are positioned to make and incentivize decisions that can shape the trajectory of the global economy," observed Ogechukwu Anyene, energy consulting manager at PowerAdvocate, who was part of the Emerging Leaders cohort at GreenBiz Group’s inaugural GreenFin event.
We began reporting progress on our climate journey in 2010 by adding a section in our Corporate Social Responsibility (CSR) report and responding to the Carbon Disclosure Project (CDP) climate change questionnaire. Additionally, we are being vigilant for physical risk, such as flood zone-mapping changes and increased extreme weather events.
Earlier this year, Truist Foundation donated $1 million to the American Red Cross Annual Disaster Giving Program, designed to deploy assistance quickly to communities impacted by events such as Hurricane Ian. commercial bank with total assets of $545 billion as of June 30, 2022. Truist Bank, Member FDIC.
Knowing Physical Threats Enhances Risk Assessment The number of companies that acknowledge climate change’s direct financial impact grew 24% in 2023, according to a CDP Worldwide survey. This was the case with a large South American bank, whose most significant financial threat comes from—of all things—farming.
It is now squarely a central and strategic risk management issue.” From voluntary to mandatory The recommendations were launched at an event at the New York Stock Exchange as part of New York Climate Week. The TNFD will now encourage and support voluntary market adoption of the recommendations.
FSOC discusses climate risks in 2023 Annual Report On climate-related financial risk, the Financial Stability Oversight Committee (FSOC) noted more severe and frequent climate-related events are imposing significant costs on the public and the economy, with economic costs from climate change expected to grow.
First and foremost, organizations must talk about change alongside practicable efforts to enact it — and validate and ensure accountability for those efforts by measuring them against standards like the 17 United Nations Sustainable Development Goals and CDP's disclosure standards. Here are some of the takeaways from that discussion.
Financial institutions urged to mitigate risks posed by water-stranding events to portfolios and loan books. Environmental disclosure platform CDP has identified potential value at risk of US$225 billion related to water risk exposure among listed equities. Water risk factors and stranded assets.
The launch of the disclosure framework is a vital step towards ensuring the private sector has the tools it needs to develop credible transition plans.” In 2022, only 28% of UK companies disclosing through CDP said they had a transition plan.
Of the 29 surveyed companies, 15 reported on their water usage to non-profit CDP, which runs an environmental impact disclosure system for investors and companies. The think tank recorded very few mentions of such risks in transcripts from earnings calls or capital market events, with only 1% of all mentions recorded.
Today, the international non-profit CDP published a report analysing the disclosure of around 19,000 companies globally. CDP work closely with the UK Transition Plan Taskforce, which is developing mandatory standards for listed companies and financial firms to ensure plans are comparable.
Net Zero Economy In Canada this week, the financial industry regulator published a set of guidelines for banks, insurance companies and other regulated firms that will help them assess and disclose climate risks. US-based manufacturer Bank Australia – Australian banks Ficosa International, S.A.
“I hope in 2023 we will start to see transition plans at every level – with companies, countries and international institutions setting out their routes towards a net zero future – give it a go and get involved.” In analysis recently prepared by non-profit CDP, of those organisations who have disclosed a transition plan, only 0.4%
Warned of further economic headwinds by the Financial Stability Board and chastised for failing to implement the goals of the Global Biodiversity Framework by CDP , the various delegations spent much of the build-up to the summit lowering expectations on collective climate action. Beef bond buyers beware.
“The financial services industry has yet to make ample progress on nature action,” Maria Nazarova-Doyle, Head of Responsible Investments at Scottish Widows, which is part of Lloyds Banking Group, said in a statement.
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.
US-based real estate company Thinkproject Holding GmbH – German software company ThoughtWorks, Inc. – US-based software company Toyo Seikan Group Holdings, Ltd.
Italian pharmaceutical company Alsico Group – Belgian textiles company Amer Sports Corporation – Finnish clothing company BNG Bank – Dutch bank Boyd (Shenzhen) Thermal Systems Ltd – US-based hardware company Boyd Plastic and Metal Parts (Shenzhen) Co. UK-based food company Daito Trust Construction Co.,Ltd.
The playbook calls on organizations to view buildings as a “material bank” – where every brick and window pane can be reused and recovered at the end of that building’s life.
Midway through our inaugural GreenFin event last week, during a break devoted to three-minute bursts of randomly selected networking conversations, I found myself paired with a university student attending the conference as part of his studies. . GreenFin 21 and the 5 cornerstones of sustainable finance. Heather Clancy.
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.
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. Goldman Sachs ‘s and Deutsche Bank’s DWS) for exaggerating claims about their products’ sustainability credentials. 2022 Sustainability Summary.
Soon, more companies will be forced to divulge environmental and social data, whether due to new laws and regulations, investor demands or simply to remain relevant and competitive, experts shared at the GreenFin 21 virtual event Tuesday. Meanwhile, big banks have been launching voluntary climate disclosure initiatives.
And, of course the heroic responders to all these events, not to mention an entire generation of youth who fear their future is being stolen before their eyes, marching in the streets. So many people and stories. But lately, I’ve been following the money. Sub-systemic shocks.
They turn to Fragos’ team for tasks such as assembling metrics for CDP disclosures, developing science-based targets, penning sustainability reports or helping a board tie emissions reductions to C-suite performance incentives. Dividends of a different stripe are central to a climate movement O’Brien is helping build.
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.
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.
With the addition of the new tools created in partnership with Normative, CDP, BSR and the University of Cambridge Institute for Sustainability Leadership, the SME Climate Hub will be able to better enable SMEs to make strategic and impactful emissions reductions, track their progress, and demonstrate climate leadership.
Swiss impact investor responsAbility, meanwhile, has raised $106 million for its climate-smart agriculture and food fund, with commitments from investors including Global Affairs Canada, the Dutch Entrepreneurial Development Bank (FMO), and the Visa Foundation.
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. .
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.
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