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Provincially owned Ontario Power Generation has adopted a greenbond framework that includes nuclear power – a first for the electricity utility. . The move followed a controversial decision in the European Union to classify natural gas and nuclear investments as green. . But does that make them objectively green?
million pounds of plastic from flights; KKR, ECP to invest $50 billion in datacenter capacity and power generation; law firms ramp up ESG training for lawyers; capital raises for sustainable heating, industrial decarbonization, energy sector emissions solutions, and more.
Tokyo-based banking and financial services company Mizuho announced today an €800 greenbond issuance, its largest to date, and the largest euro-denominated greenbond issued by a financial institution. Proceeds from the new issuance will be used to finance environmentally friendly projects through Mizuho Bank.
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 (..)
Now, as the utility charts its way toward decarbonization, this facility gives it a key KPI target to aim for. In fact, Mather expects the SLL market to grow many times bigger than the greenbond market, which because of its higher costs has failed to become the financial mechanism it could have become. Carrot and stick.
It also makes Fifth Third the only bank in its peer group to have maintained a leadership band score for three consecutive years. The Bank has been recognized as a leader by other ESG data providers, including Sustainalytics, MSCI and S&P Global. About Fifth Third.
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.
This week in ESG news: EU fails to pass environmental & human rights sustainability due diligence law; Singapore to introduce mandatory sustainability reporting; Deutsche Bank launched new sustainable finance framework; Senior execs say sustainability drives better revenues, profitability, IBM survey finds; IAG signs one of largest-ever sustainable (..)
The ensuing conversations — and, no doubt, many more to come — are a continuation of the learning journey I’ve been on for the past few years, seeking to understand the role of the financial sector in advancing sustainability solutions and a clean, decarbonized economy. That’s the realm of banks and other financial institutions. "OK,
Major Emitters Progressing on Climate Goals, But Lagging on Decarbonization Strategies: CA100+. Switzerland Issues Inaugural $766 Million GreenBond. American Airlines Invests in Aviation-Focused Green Hydrogen Startup Universal Hydrogen. London Stock Exchange Launches Voluntary Carbon Market. Government & Regulators.
Global media and communications company announced today its first greenbond offering, raising $1 billion, with proceeds from the 10-year bond aimed at supporting the company’s environmental sustainability goals, including its target to be carbon neutral by 2035.
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 (..)
Deutsche Bank Ties Senior Exec Compensation to Loan Book Decarbonization Goals Private Equity & Venture Capital Carbon Accounting and Management Startup Greenly Raises $52 Million Fullerton Fund Management Raises $100 Million for Decarbonization Opportunities-Focused Private Equity Fund KKR Acquires Majority Stake in U.S.
Mizuho Issues €800 Million GreenBond to Finance Environmental Projects. CIP Raises €3 Billion for Industrial Decarbonization-Focused Energy Transition Fund. JPMorgan Chase Commercial Banking Appoints Eric Cohen to Lead Green Economy Team. Private Equity & Venture Capital. Energy Transition. Exec Moves.
The Net Zero on Campus: From Principles to Action initiative, a collaborative effort between SDSN, the Climateworks Centre, and Monash University, aims to facilitate the sharing of lessons and resources to accelerate the decarbonization of university campuses around the world. What were the key success factors in implementing the case study?
Iberdrola currently has almost €20 billion of outstanding greenbonds, and more than 96% of its €20 billion credit line portfolio is now sustainability-linked. Global energy and electricity provider Iberdrola announced today that it has signed a €5.3
It also makes Fifth Third the only bank in its peer group to have maintained a leadership band score for three consecutive years. The Bank has been recognized as a leader by other ESG data providers, including Sustainalytics, MSCI and S&P Global. About Fifth Third.
This week in ESG news: EU adopts new law against greenwashing; Walmart reaches 1 billion ton supply chain emissions reduction milestone; S&P forecasts $1 trillion sustainable bond market in 2024; Airbus, TotalEnergies launch sustainable aviation fuel partnership; Verizon invests $1 billion in renewable energy; EU lawmakers agree to certification (..)
The meeting objective was to provide a forum for network members to share ongoing climate and energy projects within the US and to discuss opportunities to collaborate on drafting a nationwide decarbonization policy framework with local, state, regional, and national dimensions.
In this paper, we describe our process for assessing ESG-labeled bonds and show that, by systematically applying this framework, investors can help set a gold standard for the market, avoid surprises from controversy and greenwashing, and potentially generate more alpha over time. Nearly US$800 billion ESG-labeled bond issuance in 2021.
South America has abundant clean energy resources available and a huge opportunity to decarbonize power grids, transport, and industry across the continent, as well as to bolster natural carbon sinks and biodiversity. Macroeconomics of decarbonization, Day 2. Solutions for decarbonization, and Day 3. Green recovery.
Within greenbonds, climate mitigation categories dominate the use of proceeds selections, with renewable energy as the most common UoP category, at 27% of all UoPs, followed by energy efficiency at 22%, and clean transport and green buildings at 16% each. By region, U.S.
Were an individual able to get an allocation of primary shares of a B Corp (or a traditional company directly engaged in decarbonization) that would qualify as a way to invest for impact. Issuance of greenbonds has more than tripled from 2017 to 2021. Investments in physical decarbonization are also limited in scope.
Efforts to decarbonize the sector played only a small role. With large growth projected in the buildings sector, emissions are set to rise if there is no effort to decarbonize buildings and improve their energy efficiency. In Asia and Africa, building stock is expected to double by 2050. Some small progress, but not enough.
And governments and multilateral development banks have never made the issue a real priority. However, there are other funding solutions, such as providing impact finance to clean cookstove manufacturers and distributors through equity investments or greenbonds. The IEA estimates that these programs face a $5.5
midsection to dismiss what they perceived as a fad — after he approached them about why courses in greenbonds, ESG funds, sustainability-linked loans and other green finance instruments weren’t part of his university curriculum. . CFOs like the optics of greenbonds and loans.
Biden Turns to Private Sector to Ramp Building Decarbonization Efforts. UK Competition Regulator Investigates Green Claims of Fashion Retailers. Billion in Inaugural GreenBond Offering. Carlyle Launches Decarbonization-Linked Finance Program for Private Credit Market. ESG Services and Tools. Sustainable Finance.
This week in ESG news: Vanguard launches its first impact fund; Biden considers declaration of climate change emergency; Deutsche Bank appoints its first Chief Sustainability Officer; UK government given 8 months by high court to come up with a climate plan; BlackRock acquires waste-to-renewable gas company for $700 million; PepsiCo issues $1.25
Biden Administration Unveils Strategy to Decarbonize Transportation Sector. India to Launch Inaugural $2 Billion GreenBond Offering this Month. Bain, Schneider Electric Partner to Deliver Corporate Decarbonization Solutions. Green Hydrogen Innovator Hystar Raises $26 Million. solar investment announced, and more.
That’s why he’s made it his mission to raise awareness of the impact that healthcare has on the climate crisis and prepare physicians and trainees to decarbonize the Canadian healthcare system. So far she has spearheaded decarbonization targets for a $13-million asset portfolio and 38 buildings across Canada. My focus is on scale.
Billion GreenBond. Major Banks Join Pledge to Mobilize $20 Billion to Support Indonesia’s Clean Energy Transition. Maersk Sources 100,000 Tonnes of Green Methanol to Support Fleet Decarbonization Goals. Guest Post: Should You Build or Buy an ESG Supply Chain Solution? ESG Investing. Sustainable Finance.
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
Among the financial instruments most used by the companies, greenbonds (53%) lead, followed by sustainability-linked bonds (30%) and loans (25%). Moreover, 25% of the companies have sought support from DFIs and multilateral development banks such as IFC, EBRD and ADB.
How long these climate-critical industries will remain in a slump is an open question, as central banks seem to be in no hurry to reduce interest rates. Central banks around the world launched a round of aggressive interest-rate increases in early 2022 after inflation started to rise sharply. Recently, BlackRock Inc.
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.
This week in ESG news: BCG launches sustainability and climate policy & regulation center; Congress votes down Biden ESG investing rule; Deutsche Bank eyes big sustainable finance opportunity; Canada government to require suppliers to disclose emissions, set targets; Citi sets climate goals for carbon-intensive sectors; EU lawmakers agree to new (..)
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Microsoft Signs One of the Largest-Ever Nature-Based Deals to Remove 1.5
Deloitte, Persefoni Partner on Carbon Measurement Solutions for Banks & Insurers. India Prepares to Issue Inaugural GreenBond. Sustainable Bonds Hit Record Share of Global Bond Issuance: Moody’s. KKR Invests $400 Million in India-Based Industrial Decarbonization Platform Serentica Renewables.
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