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One strong indicator of a bank’s DNA can be found in the organizations banks have joined. From a climate impact perspective, the Global Alliance for Banking Values sits on the most impactful end of the spectrum.
JPMorgan Chase wants to be the commercial bank for ‘green economy’ companies. Part of the commercial banking division, the group will include dedicated bankers led by Brian Lehman, who most recently led the JPMorgan Chase diversified financials team. Heather Clancy. Mon, 04/12/2021 - 00:05. The largest U.S. Finance & Investing.
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. Tue, 10/13/2020 - 00:46.
Our accredited partnership program is a crucial part of our efforts to support financial institutions in their efforts towards decarbonization and is key to accelerating the transition towards a more sustainable and equitable global economy.
Some landlords have struggled to comply with strict decarbonization regulations cropping up in jurisdictions like British Columbia and California, among them building code requirements to “fuel switch” (i.e., That means it is tapping the earth’s heat, rather than conventional gas-fired boilers, to warm and cool the building’s interior spaces.
Originally published by Forbes Santander CIB has partnered with SAP to expand the digitization of their global transaction banking services. The partnership prioritizes connectivity and new digital solutions to accelerate client-to-bank services. Continue reading here
The Rocky Mountain Institute (RMI) is banking on banks to get us over the carbon-neutral finish line by 2050. . The center will serve as a hub for cross-sector collaboration, bringing traditional financial instruments to innovative ideas to decarbonize the planet. . Thu, 07/09/2020 - 00:01. Pull Quote. Finance & Investing.
Deutsche Bank announced an update to its Long-Term Incentive plan for Management Board members, the most senior executives in the company, with a portion of compensation for the group linked for the first time to the decarbonization of the bank’s corporate loan portfolio, beginning in 2024.
banking sector, highlighting areas of improvement in the design and implementation of their climate finance target-setting and disclosures. bank performance. bank performance. The global shift towards a low-carbon economy has unlocked trillions of dollars in investment opportunities for banks. Policies like the U.S.
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.
At the same time, they’ve started asking themselves how they can profitably invest in climate solutions and decarbonization so that their investments are making the future better, not worse, for their members. Their goal is laudable and essential: climate safety depends on real-world decarbonization.
This week in ESG news: EU Council approves delay of sustainability reporting regulations; ING becomes first major bank with approved science-based financed emissions targets; PwC study finds vast majority of companies are keeping – or raising – climate goals; SEC walks away from climate reporting requirements; Airbus commits to build hydrogen-powered (..)
Join Activest’s Homero Radway, The post The Brief: Today’s Call: Hidden impact in muni bonds, shuttering Jeffrey Ubben, women’s livelihood bond, Omidyar Network exits India, decarbonizing your banking appeared first on ImpactAlpha.
Tokyo-based banking and financial services company Mizuho Bank and Temasek-owned decarbonization solutions-focused investment platform GenZero announced today a new partnership aimed at developing transition credits to help fund the acceleration of the early retirement of coal-fired power plants.
decarbonizing industry, off-grid energy access, banking Pakistan’s workers, sustainable insulation, Black geekdom appeared first on ImpactAlpha. Last chance to RSVP: Optimizing for Impact. Get up to speed on impact measurement and management in a. The post The Brief: Accounting for impact, Impact 3.0,
At McKinsey’s Tomorrow Conference, three European executives discussed the capital requirements and banks’ efforts to help companies meet them. Getting to net-zero emissions can be complex and costly.
The post The Brief: Finding a sustainable bank, decarbonization tech, anaerobic digesters, revenue-based financing, carbon-market rules appeared first on ImpactAlpha. Tomorrow’s Call: The disruption in small business financing in emerging markets. Enterprise software. Crowdfunding.
The post The Brief: Impact of corporate political contributions, decarbonizing cement, rural banking in Indonesia, wind turbine robots, subscription e-trucking in California appeared first on ImpactAlpha. Featured: ESG and Impact CEOs are signaling their corporate impact – with their political contributions.
The European Central Bank (ECB) announced today the publication of its first climate-related financial disclosures for its corporate sector and non-monetary policy portfolios, indicating progress towards the decarbonization of the Eurosystem’s €385 billion of corporate securities holdings.
HSBC announced today that its Group Chief Sustainability Officer Celine Herweijer will be stepping down from her role and departing the bank at the end of the year. The firm said that Julian Wentzel, currently Head of Global Banking, MENAT, will be assuming the position of Interim Group Chief Sustainability Officer.
TD Bank Group announced a series of new ESG and sustainable finance-focused measures today, including a goal to facilitate CAD$500 billion (USD$364 billion) in sustainable and decarbonization finance by 2030. The bank said that it will report annually on its progress towards the goal.
Banks finance carbon-emitting businesses, and they finance decarbonization of the economy, as well. How effectively they address financed emissions can make all the difference.
Now, as the utility charts its way toward decarbonization, this facility gives it a key KPI target to aim for. When Enel, an Italian utility, launched a $1.61 In other words, get market-based credit for investing in renewable energy and alternative energy solutions. "We Carrot and stick. Finance & Investing. GreenFin 21. Sponsored Article.
Zero-carbon industrial heat solutions provider Rondo Energy announced that it has secured €75 million (USD$80 million) in funding, aimed at expanding its European presence by supporting three industrial decarbonization projects in the food, clean fuel, and chemical production industries.
November 4, 2023 /3BL/ - Ceres today welcomed the finalization of new guidance from the Financial Stability Oversight Council (FSOC) that would enhance the supervision and regulation of certain non-bank financial institutions (NBFIs) that play a pivotal role in strengthening the financial ecosystem.
Originally published in American Airlines' 2023 Sustainability Report Sustainable Aviation Fuel The clearest near-term way to decarbonize aviation based on current technological developments is by transitioning to sustainable aviation fuel (SAF). See page 19 to read about our innovative agreement with Infinium.)
The European Central Bank (ECB) revealed today details into its plans to decarbonize its more than €385 billion of corporate bond holdings, including the introduction of climate scores that will be incorporated into future purchase decisions. Press release [link] — European Central Bank (@ecb) September 19, 2022.
A vast majority of European banks face significant climate transition risk, according to a new study released by the European Central Bank (ECB), with a “staggering 90%” found to have loan books misaligned with global climate goals and the EU’s 2050 climate neutrality target.
Bank of America announced that is joining a sustainable aviation fuel purchase program provided by American Express Global Business Travel (Amex GBT) and Shell Aviation aimed at enabling companies to address their travel emissions using SAF and supporting the growth of the SAF market.
Alternative asset and private equity investor KKR and Spanish bank BBVA announced the formation of a new strategic partnership, targeting climate solutions and climate infrastructure-related investments aimed at supporting the decarbonization of the real economy.
Global management consulting firm McKinsey & Company’s sustainability-focused platform McKinsey Sustainability and Moody’s financial intelligence and analytical tools unit Moody’s Analytics announced today the launch of a suite of solutions aimed at helping banks identify, measure, and act on climate change-related risks and opportunities.
The launch comes as banks, investors, insurance companies and asset managers are facing increasing pressure from regulators and other stakeholders to address their climate impacts, and to begin to put their net zero plans into action.
The announcement by UBS marks the latest in a series of moves by banks globally to withdraw or pull back on climate commitments, although UBS changes appear less drastic than those by some of its peers.
International banking group Standard Charteredannounced the release of its inaugural Transition Plan, outlining its detailed plan to achieve its climate goals, including its target to reach net zero emissions across its financing activities by 2050.
Low carbon biofuels producer Harvestone Low Carbon Partners (HLCP)announced that it has closed a $205 million tax equity financing with Bank of America to support its North Dakota-based biofuel carbon capture and storage project, marking the first financing of its kind since the passage of the Inflation Reduction Act (IRA). Passed by the U.S.
Stockholm-based banking group Swedbank unveiled new decarbonization targets for its lending portfolio with aims to reduce emissions in five key corporate sectors – including mortgages, commercial real estate, oil & gas, power generation and steel – by 2030. Swedbank said that the targets have been sent to SBTi for validation.
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.”
Among the key priorities outlined by the HKMA’s new agenda include directives for banks to reach net zero financed emissions by 2050 and to provide disclosures on climate risks and opportunities, and for the HKMA to incentivize sustainable finance innovation and to provide sustainable-financed training programs for finance professionals.
Highlights European Investment Bank Group, European Commission and the Solar Impulse Foundation join forces to assist small and mid-sized companies in their decarbonization efforts. A new ener.
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 net zero transition planning for financial institutions, including banks, insurers and asset managers.
New strategic investors participating in the financing included Bank of America and Goldman Sachs. Jim DeMare, President of Global Markets at Bank of America, said: “Sustainability is part of discussions in boardrooms and with investors. Bank of America supports innovation in these evolving markets.”.
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