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The Monetary Authority of Singapore (MAS), the central bank and financial regulator of Singapore, announced today the issuance of a set of consultation papers with proposed guidelines on netzero transition planning for financial institutions, including banks, insurers and asset managers.
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.
Burberry has strengthened its resolve to be climatepositive by 2040 by refinancing a credit facility to a £300m Sustainability Linked Loan. Burberry plans to become netzero by 2040 and will invest in nature-based projects with carbon benefits to restore and protect natural ecosystems and boost the livelihoods of global communities.
The company, an early partner with the Ellen MacArthur Foundation, has positioned water and carbon emissions as equally critical in the climate crisis. Last year, Ecolab set a goal for net-zero carbon emissions by 2050, getting halfway there by 2030. million acres the 4.4 million acres it protects in the Amazon.
First, the UN-convened NetZero Asset Owner Alliance told us of a steepening uphill struggle, but an effective one driven by target-setting across activities and sectors. The end of the beginning – The NetZero Asset Owner Alliance also urged further efforts to “reform the current multilateral financial architecture”.
Following its first year of climate direct engagement, UK scheme also emphasises partnership as helping asset owners act at scale. billion) of investments on behalf of 11 LGPS funds – released its latest Climate Change Report alongside its annual Responsible Investment (RI) and Stewardship Report. billion (US$68.8
Financial institutions need to segment their portfolios into transition, netzero-aligned and stranded assets and develop clear emissions reduction plans in line with recognised 2030 and 2050 targets, said Mark Carney, Founder and Co-chair of the Glasgow Financial Alliance for NetZero (GFANZ). Heading for the exit?
UK pension schemes will be required to demonstrate alignment with the Paris Agreement from October, but will also be given greater flexibility to make climate-positive investments as well as new stewardship guidance, Work and Pensions Secretary Therese Coffey confirmed today. “We
Some were shocked by the anger expressed at the forum by ex-US VP Al Gore, who distanced himself from US Climate Envoy John Kerry on the growing role of petrostates and oil company executives in climate change negotiations. Science-based netzero transition pathways only recommend residual emissions be offset through carbon credits.
As such, the introduction of amber thresholds caters to vessels that are aligned with industry targets under the 2023 International Maritime Organisation Greenhouse Gas Strategy to reach netzero emissions by or around 2050, which sets intermediate targets of reducing emissions by at least 20% and striving for 30% by 2030 compared to 2008 levels.
Speaking at the Financing Asia’s Transition (FAST) Conference on 8 June, MAS Chairman Tharman Shanmugaratnam said the transition planning guidance will cover the governance frameworks and client-engagement processes of FIs to manage climate-related financial risks and to enable a transition towards netzero in the real economy.
The hosts underlined the need to match climate ambition with the development objectives of the Global South, while Saudi Arabia and Russia chiselled in the background to secure a role for fossil fuels in the netzero future, as they had in July , with support from the now leaderless Chinese. Beef bond buyers beware.
Discussing climate and nature risks at roundtable hosted in Hong Kong in early October by ESG Investor and S&P Global Sustainable 1, organisations acknowledged the links between the two. “If There are also emerging topics, such as just transition, where data is very sparse.”
Backed by a $75 million debt finance commitment from Australia’s ‘green bank’, the Clean Energy Finance Corporation ( CEFC ), the facility is designed to provide a substantial boost to Australia’s recycling sector while also expanding onshore recycling capabilities.
To quickly grasp the scale of their nature-related exposures, investors and corporates should view new reporting and risk management processes as an extension of existing climate strategies, delegates heard at the PRI in Person 2023 event.
A key factor in meeting demand for climate-positive investment could be the growth of climate-aligned bonds. Achieving netzero by 2050 could require the climate bond universe to reach US$36 trillion by 2025 and over US$60 trillion by 2030, it added. An expanding universe.
The fund acquires or leases land and aims to introduce ecological and organic management practices, in order to develop an overall “climatepositive” portfolio of assets delivering on netzero targets. SLM Partners is an asset manager which specialises in sustainable land and real assets.
“It’s an industry you can’t put on the internet; we will need shipping in the years to come, which means we have to ensure it is sustainable in the long term,” says Stephen Fewster, Global Head of Shipping Finance at Amsterdam-headquartered ING Bank. . Buoyed by solutions .
McMahon says the overarching objective is to develop a “climatepositive” portfolio of assets that will deliver on netzero targets, while having measurable impacts on biodiversity and soil health. The target fund size is €250 million. The latest ONS figures show UK food prices increased 6.2%
And then there’s the opportunity for companies to offset their emissions, since trees are a natural climate solution that can help draw down greenhouse gases, especially firms adopting net-zero commitments (see below). Net-zero commitments found infinite potential. BP announces net-zero by 2050 ambition.
degree Science Based NetZero commitment, and providing sellers with 100% recycled packaging. Apple commits to eliminating all plastics in its packaging by 2025 and has pledged to create products with netzero carbon impact. degree Science-Based NetZero commitment.
Academic institutions responsible for £5 billion have sent requests for proposal asking banks and asset managers to develop climate-positive deposits and funds. Moving in – The market for biodiversity credits received a boost this week, with the introduction of the biodiversity net gain (BNG) concept in England.
In other US climate-positive news, the Biden administration recently awarded US$4.3 In related news, NatWest Group issued this week the first bond by a UK bank dedicated to financing and re-financing electric vehicles (EV), raising net proceeds of €750 million (US$811.4
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