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HSBC is latest bank to pledge net-zero financed emissions by mid-century

GreenBiz

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.

Net Zero 402
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“Insufficient” Action from Banks to Meet Climate Targets

Chris Hall

Lenders are urged to end fossil fuel expansion and convert targets into “meaningful commitments” as US banks fall behind international peers. Action by banks to reach net zero emissions and meet climate goals is “insufficient”, according to two reports which also highlight significant gaps in the policies guiding the sector’s transition.

Banking 72
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Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020

GreenBiz

Despite net-zero pledges, banks used $750 billion to finance fossil fuels in 2020. Net-zero commitments may have ricocheted across banking sector over the last 18 months, but big banks' attestations of climate concern did not stop many from expanding financing for the world's top fossil fuel firms during the pandemic year.

Net Zero 398
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Transition Challenge for Britain’s Biggest LGPS

Chris Hall

In February, the scheme committed to further develop and embed climate and ESG risk management, include a commitment to vote in favour of shareholder resolutions aligned with the objectives of the Paris Agreement. In May, the LGPS has launched a second £1.2 billion in 2022.

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ING Faces Climate Lawsuit from Group that Won Case Against Shell

ESG Today

The organization is also involved in a lawsuit launched last year against Paris-based global bank BNP Paribas , targeting the bank’s financing for new oil and gas projects and calling for a strong climate policy, based on a similar “duty of vigilance” law in France.

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Beware the Green Swan

Chris Hall

Almost seven years since the Paris Agreement was signed at COP21, any number of initiatives have been launched with the aim of reducing greenhouse gas (GHG) emissions and limiting global warming to 1.5°C. As these perilous climate projections unfold, one might expect an inevitable upheaval in the global economy.

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Sustainable Finance Demands More Than Just Cutting Carbon

Chris Hall

More than 450 firms representing US$130 trillion in assets under management have joined the Glasgow Financial Alliance for Net Zero , a coalition of sector-specific initiatives from banks, asset managers, asset owners, insurers and other financial service providers. Paris Agreement alignment is a holistic process.