Remove Banking Remove Net Zero Remove Stranded Assets
article thumbnail

Advocates urge regulation of banks’ climate commitments to avoid greenwashing

Corporate Knights

A coalition of environmental groups is calling on the federal government to regulate climate commitments made by banks and other financial institutions to avoid greenwashing and accelerate change. .

Banking 361
article thumbnail

Canada is sleeping on the energy transition

Corporate Knights

The clean energy transition is happening faster than predicted, with renewable deployment rates growing in line with the International Energy Agency’s scenario for reaching net-zero by 2050. While Canadian energy majors have paid lip service to the idea of becoming “net-zero,” their current climate strategies amount to delay tactics.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Why needless growth isn’t needed

GreenBiz

In its landmark Net Zero report , the IEA said that there is still a path to limit global warming to 1.5 If the world heeds that advice, we’ll leave a lot of stranded assets lying around. degrees Celsius and avert the worst effects of climate change, but to do so we have to cease oil and gas exploration immediately.

article thumbnail

Decarbonising Investment Portfolios on the Journey to Net Zero

3BL Media

For financial institutions such as banks, insurance companies and investment managers, scope 3 emissions from supply chains and lending/investment portfolios are often more complex than for other industries. South Pole can help you navigate the existing framework as well as the new net zero guidance (FINZ) which will replace it in Q4 2023.

Net Zero 113
article thumbnail

All Systems go for Net Zero

Chris Hall

C, and investee companies are not yet facing full scrutiny of their net zero 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 net zero aligned by 2030.

article thumbnail

Business-as-usual no Longer an Option for Banks

Chris Hall

Jessye Waxman, Senior Campaign Representative, Fossil-Free Finance Campaign, Sierra Club, says climate-related shareholder resolutions give banks necessary guardrails for transition financing. These claims are a misrepresentation of resolutions that simply aim to reduce banks’ exposure to climate-related risks.

Banking 98
article thumbnail

Coal Phase-Out Negotiations Needed for Net Zero

Chris Hall

Alongside stranded asset dangers for investors, the early phase-out of emerging markets coal fleets leaves countries open to legal, financial risks. The International Energy Agency has said the world needs to cut 90% of coal use by 2050 and phase out all unabated coal power plants by 2040 to achieve net zero by the mid-century.