This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Mark Carney’s US$130-trillion Glasgow Financial Alliance for NetZero (GFANZ) has lost two pension funds and a consulting company in recent weeks, and some large U.S. and Canadian banks are threatening to withdraw because of new membership criteria requiring a fossil fuel phase-down. Former U.S.
As the warming climate drives up temperatures and ignites wildfires across many parts of the globe this summer, a new study shows some of the world’s largest asset management companies have some of the smallest net-zero targets for their portfolios. . trillion in assets, came last at 4% net-zero assets under management.
Corporate Knights Global 100 ranking of the worlds most sustainable firms, now in its 21st year, shows that the top firms continue to increase their investment in the green transition. Were finding that growth in sustainable revenues is outpacing all other revenues, says Toby Heaps, co-founder and CEO of Corporate Knights.
When I led Canada’s Social Investment Organization (SIO) in the early 2000s, one of our most important debates concerned the question of whether the organization should develop an industry-wide label for socially responsible investment, as sustainableinvesting was called back then.
The real question is, are the world’s banks ready to fund the development of renewable technologies at scale, and updating all the infrastructure in between? And which banks will take the lead? . Corporate Knights researchers ranked 60 banks for which they found quantifiable sustainable-revenue data from an initial pool of 91 banks.
This week in ESG news: Canada to require oil & gas industry to slash emissions; California’s climate reporting law survives legal challenge; Mizuho invests in climate solutions provider Pollination; new clean energy deals signed by H&M, Meta, Saint-Gobain; incoming EU finance Commissioner calls for sustainableinvestment labels, reduced SFDR (..)
The 60 largest banks in the world have provided US$6.9 trillion in financing for new fossil fuel expansion projects, investments that put the net-zero goal of the Paris Agreement in jeopardy. But she says it’s too early to conclude that banks have reached peak fossil fuel financing. based bank JP Morgan Chase.
Last month there was a rare meeting, where the chief executives of Canada’s five largest banks testified before Parliament about their climate commitments. Their testimonies proved why new rules to shift finance away from polluting investments are urgently needed. Canada should follow suit.
Among the key priorities outlined by the HKMA’s new agenda include directives for banks to reach netzero 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.
Billion SustainableInvesting Mandate from SJP NetZero Investor Coalition Hits Pause After BlackRock Exit Exec Moves Mars Appoints Alastair Child as New Chief Sustainability Officer Barclays Head of Sustainability Steps Down Sodali Appoints Andrew Benett as New CEO
The federal government is pursuing new policies on procurement and low-carbon investment standards aimed at boosting the business prospects for companies committed to net-zero climate plans. The Canadian sustainable finance council comprises 25 institutions, including banks, pension funds, insurance companies and credit unions.
proxy voting recommendations; capital raises for battery tech, e-fuels, energy storage, carbon removal; Microsoft sources solar energy in Texas, Illinois; IBM, Ramboll partner on sustainability strategy & reporting solutions, and more.
Canada is lagging in its efforts to drive private capital into sustainableinvestments to finance solutions on climate change and other environmental challenges. Freeland was attending the Sustainable Finance Forum, which was organized by Liberal MP Ryan Turnbull and featured a half dozen of her cabinet colleagues.
Divestment can lead to more sustainability in the real economy,” said Martin Rohleder, the university’s chair of finance and banking, calling it “the first empirical evidence on the impact of divestment.”. U of T is also the first university to join the U.N.’s Of course, revolutions can get messy.
While many companies, particularly in the fossil fuel and banking sectors, resist any major departure from their lucrative business-as-usual path, the leaders are doubling down on sustainability. In the 2024 Global 100 ranking, the top-ranked firms allocated 55% of their investments to sustainable projects, up from 47% the year prior.
The 80,000-member BCGEU is hoping to bring attention to the issue by filing shareholder resolutions this spring with Brookfield Asset Management, one of the world’s largest investment management companies, and Royal Bank of Canada (RBC), the country’s largest bank. Brookfield AGM. More RBC scrutiny.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements HSBC Buys Biomass-Based Sustainable Aviation Fuel in Deal with Cathay Pacific, EcoCeres Alfa Laval Accelerates NetZero Goal by 3 Years to 2027 Mercedes-Benz Sharpens Sustainability Focus on 6 Key ESG Areas BlackRock, (..)
New figures showed that carbon emissions in 2022 fell to “significantly lower” than pre-pandemic levels in 2019, giving hope that Canada can meet its net-zero commitments. Crucially, the companies’ average sustainableinvestment (as a percentage of total investment) hit 58.9%
For investors, however, sustainability disclosure isn’t merely optional anymore; it’s essential. Investors can’t just divest from carbon-intensive industries and wipe their hands of their role in the net-zero transition, argued Deborah Ng, head of ESG and sustainability at GMO LLC. “If
Standard Chartered announced today the appointment of former Credit Suisse Global Head of Sustainable Finance Dana Barsky as Global Head of Sustainability Strategy and NetZero. Barsky will be based in Singapore, and report to Group Chief Sustainability Officer Marisa Drew.
Yet many Canadian banks, pension funds, insurers and large companies still underinvest in clean energy and disproportionately invest in oil, gas and coal. Earlier this year, Canada was recognized as a “low-regulation jurisdiction” on sustainable finance by a UN sustainableinvestment group. What is needed now?
The sustainableinvestment community already is engaged in this effort, channeling dollars to companies with better environmental, social and governance (ESG) practices. One in every three professionally managed dollars in the United States — $17 trillion — is invested with an ESG focus. We agree that this shift is overdue.
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. Clearly much more needs to be done to pivot towards more sustainableinvestment and lending practices.
Drastic changes to the scope of sustainability reporting rules will limit investor access to comparable and reliable sustainability data, said Aleksandra Palinska, executive director at the European SustainableInvestment Forum, Europes umbrella network for sustainable finance, in a press release.
The average percentage of sustainable revenues achieved by 2023 Best 50 companies is 46.3%, up from 36.8% They’re sinking more investment money into the green economy, too: the percentage of total investment dollars put toward sustainableinvestments is just shy of 50% for this year’s Best 50, up from 33.8%
Signals of change in the netzero transition this week show businesses advocating for strong climate policy in the finance, transport and land sectors. The post Netzero transition – the latest signals of change: March 24, 2023 appeared first on We Mean Business Coalition.
Million for Misleading SustainableInvestment Claims UK Sets Largest-Ever £1.5 Million for Misleading SustainableInvestment Claims UK Sets Largest-Ever £1.5 Million for Misleading SustainableInvestment Claims UK Sets Largest-Ever £1.5
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.
Some of Canada’s largest pension funds, such as the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board , continue to finance oil and gas expansion. And in 2018, Ireland became the first country to divest its national investment fund completely from fossil fuel companies.
11 young professionals on the future of sustainable finance. Their creative thinking and perspective will help build more sustainable solutions for the future.". Their creative thinking and perspective will help build more sustainable solutions for the future.". Investors can commit to net-zero carbon emissions by 2050.
Credit Suisse announced today the publication of its Climate Action Plan for its investment businesses, outlining the strategies and actions to be taken by Credit Suisse Asset Management and Credit Suisse Wealth Management to achieve netzero across their portfolios by 2050. The time to act is now.”
The ruling referred to ads displayed in bus stops in London and Bristol in October 2021, in the run-up to the COP26 climate conference, promoting HSBC’s initiatives to provide up to $1 trillion in finance and investment to help clients transition to netzero, and to help plant 2 million trees.
We are one piece of a big puzzle,” she says, estimating that two-thirds of the investment required to achieve net-zero by 2050 will come from the private sector. Alyson Slater, head of sustainableinvestments, Manulife “They didn’t want it done in a fluffy way,” Todd says of her Vancity employers.
While investors and companies are already setting netzero targets, laying out transition plans, and engaging with governments, more needs to be done to reduce methane emissions and reverse nature loss and water degradation across key sectors. Go to [link] for a full list of events featuring Ceres staff as well as the latest updates.
Private banking and asset management company Edmond de Rothschild announced today the appointment of Nathalie Wallace as Chief Sustainability Officer. She has also served as global head of ESG investment strategy at State Street Global Advisors and as a Director at sustainability-focused non-profit Ceres.
Larry Fink, the CEO of the largest investment firm in the world, wrote in his 2022 letter to CEOs: “It’s been two years since I wrote that climate risk is investment risk. Sustainableinvestments have now reached $4 trillion. Every company and every industry will be transformed by the transition to a netzero world.”.
This week in ESG news: Australia passes mandatory climate reporting law; Google signs carbon removal deal at landmark $100/ton price; Bain survey finds CEOs losing focus on sustainability as it becomes more important to consumers and corporate buyers; SEC fines Keurig over coffee pod recycling claims; Oracle launches sustainability data and reporting (..)
This week in ESG news: EU lawmakers agree to delay sustainability reporting standards for specific sectors, non-EU companies; HSBC launches netzero transition plan; BlackRock invests $500 million in clean energy infrastructure developer; GRI launches biodiversity reporting standard; Capgemini survey finds most business leaders plan to increase sustainability (..)
The last few years has seen an explosion of investments being labelled green or sustainable. Many large companies announced ambitious netzero targets and the contribution they will make to becoming a netzero economy. Sustainable growth? It is big business.
The Monetary Authority of Singapore (MAS), the central bank and financial regulator of Singapore, announced today that it will allocate S$35 million (USD$26 million) over the next three years to support upskilling and reskilling initiatives in order to develop sustainable finance specialists in the financial services sector.
ESG Investor’s weekly round-up of new hires in the sustainableinvesting sector, including EQT, Tritax Group, Vortex Energy, Climate Impact Partners and WTW. . UN Secretary-General António Guterres, said: “Governments have the lion’s share of responsibility to achieve net-zero emissions by mid-century.
Lowe’s Commits to NetZero Emissions Across Entire Value Chain. Fed Releases Climate Risk Management Proposals for Big Banks. 99% of Public Companies Expect to Invest in ESG Reporting Tech & Tools in Next 12 Months: Deloitte Survey. ESG Investing. Vanguard Drops Out of NetZero Asset Managers Initiative.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content