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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 (..)
Rising interest rates and supplychain problems in the post-pandemic period have eroded values of clean energy stocks and funds. The recovery has been driven by expectations of lower interest rates and long-term demand for renewable energy for electric vehicles, building heat, industrial uses and data centres.
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.
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.
Sustainableinvestment solution provider u impact has joined forces with specialized green banking software provider ecolytiq to introduce innovative sustainableinvestment products to a wider branch of private investors.
“The Emerging Leaders program provides a forum where environmentally focused youth can explore and learn about climate solutions and sustainability efforts across public and private sectors,” said Alex Liftman, global environmental executive at Bank of America, which sponsored the program at GreenFin. Mecca Luster.
The new fund is launching with $400 million in commitments at its first close, with initial investors including Toyota Motor Corporation, Iwatani Corporation, Sumitomo Mitsui Banking Corporation, MUFG Bank, Tokyo Century Corporation, Japan Green Investment Corp. for Carbon Neutrality, and the Bank of Fukuoka.
This week in ESG news: SEC chief says investors want supplychain emissions reporting to manage climate transition risk; survey finds over 80% of companies plan to increase sustainability spend next year; Apple & Nike launch supplychain decarbonization initiative; Porsche to use green steel in cars; KPMG launches decarbonization hub in Canada; (..)
This week in ESG news: EU Parliament approves new anti-greenwashing law; investors urge Shell to set Paris-aligned climate targets; Barclays launches new sustainablebanking, energy transition investmentbanking teams; PwC CEO survey finds companies upskilling workers for climate megatrend; Australia drafts law requiring mandatory climate reporting; (..)
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.
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 (..)
In addition to the financing, suppliers in the program will also receive technical support from sustainability consultant, Guidehouse, to embark on factory upgrades to decrease their climate impact. According to H&M’s 2022 Sustainability Report, Scope 3 makes up nearly 99% of the company’s emissions.
The European InvestmentBank (EIB) Group announced €800 million in new financing for a series of projects to support climate action in Argentina, Brazil, and Chile. The announcement was made during the European Union-Community of Latin American and Caribbean States (CELAC) Summit of Heads of State and Government.
Regulators and institutional investors (which includes banks, labour unions and pension funds) followed closely behind. RIA says investors are demanding quality responsible investments that are transparent, credible and financially savvy. I try to do a lot of education around doing less evil versus doing more good.
A report published by former European Central Bank President Mario Draghi in September pointed to the Taxonomy, CSDDD, CSRD, as harmful to EU competitiveness, with the latter branded a “major source of regulatory burden”. “The The Draghi report says too many different reporting frameworks are burdensome to companies.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements. Apple to Track Suppliers’ Emissions, Targeting a Decarbonized SupplyChain by 2030. Mondelez Ramps Investment in Sustainable Cocoa Initiatives to $1 Billion.
ESG Investor’s weekly round-up of news on technology and tools in the sustainableinvesting sector, including MSCI, Tumelo, DSD Lab, Exabel, YoujiVest, R3 and Hope for Justice. . The EBA ESG Pillar 3 disclosure standards are a mandatory requirement for banks with securities traded on a regulated market of any EU member state.
Human rights are another big focus for the firm, which will focus on engaging with corporates to protect human rights and enhance supplychain management practices. Georgina has joined Acre’s Sustainable Finance and Impact Investing practice.
The right to engage Sophie Demaré, SustainabilityInvestment Analyst for Fixed Income at Federated Hermes, echoes these sentiments. Thomas Coudert, Head of Sustainability, Core Investments at AXA Investment Managers, says discussions at roadshows have shifted focus, with more questions being asked today about ESG-related issues.
And without access to adequate, timely financing, the licit, sustainable small and medium-sized enterprises (SMEs) that could take the place of illegal, extractive businesses are often left out of market growth. In fact, they are banking on it. Does the Amazon rainforest really have to perish for businesses to prosper?
ESG Investor’s weekly round-up of news on technology and tools in the sustainableinvesting sector, including NN Investment Partners, SDI AOP, ESG Book, ISS ESG, Likvidi, Alcumus. Deutsche Bundesbank, acted as lead central bank, but all other Eurosystem central banks have the opportunity to join the agreement.
The event was co-hosted by the Columbia Center on SustainableInvestment (CCSI), the International Council on Mining and Metals (ICMM), GIZ, and the World Bank. An outcome report of the meeting is now available.
For financial institutions such as banks, insurance companies and investment managers, scope 3 emissions from supplychains 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.
These disasters impact supplychains, products, and the services on which consumers rely, and the impacts will only increase without dramatic action. About Ceres Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges.
In both the public and private sectors, this week saw incremental progress in support of sustainableinvestment objectives, rather than transformative changes. On this front, developments look promising with decisions taken at last week’s World Bank Group – IMF Annual Meetings in Marrakech described as the “ end of the beginning ”.
Cristina Hastings, Head of Sustainability at Nuveen Natural Capital, told ESG Investor last year that it was taking a “holistic mindset around nature, climate and people” with its new sustainability strategies. China has made some progress on exploring methodology and application of GEP,” he said.
Funding for emerging technologies is set to be a central focus of the UK’s recently unveiled National Wealth Fund (NWF), combining public and private investment to drive the development of solutions including carbon capture utilisation and storage (CCUS) , green hydrogen , and more. Investments are set to start immediately, with £7.3
Ahead of next week’s IMF and World Bank annual meetings, ex-White House advisor Lawrence Summers called for a “reinvented” World Bank that would prioritise sustainability, supporting global public goods such as climate adaptation , partly via expanded partnership with the private sector.
In this week’s ESG Interview , SLM Partners’ Paul McMahon highlights opportunities, despite the challenges of scaling up investment in regenerative projects, given their current typical small size and lack of track record versus other real assets. Icahn also took aim at asset managers. “If
Then we can create the trade relationships that will underpin international supplychains for these new industries.” It’s not going to be a problem for banks and large corporates to commit to net zero, but SMEs will need support to deliver on their promises.” It would also create supplychains that can support the wider economy.
On sustainable development, climate and financing for development, much ink was spilled on reform and repurposing of the international financial architecture, covering democratisation, debt sustainability, use of metrics beyond GDP to capture “human and planetary wellbeing ”, and increased climate finance.
The need for reform of the global financial architecture has been building, and was acknowledged in October’s annual World Bank / IMF meetings. At least in Europe, managers can look forward with greater certainty to comprehensive sustainability reporting from corporates , if not necessarily their supplychains. .
ESG Investor’s weekly round-up of moves and appointments in the sustainableinvesting sector, including the ISSB, Hymans Robertson, 2DII, ACA Group, Edison, UKSIF and Util. . Michael Meehan has stepped down as Chair of the UK SustainableInvestment and Finance Association (UKSIF).
ESG Investor’s weekly round-up of news on technology and tools in the sustainableinvesting sector, including FTSE Russell, GRESB, GI Hub, MAS, Google Cloud, Apex, Clarity AI, Blackrock eFront and Normative. . And a significant portion of the SFDR reporting burden has been eliminated.” .
ESG Investor’s weekly round-up of moves and appointments in the sustainableinvesting sector, including AXA IM Alts, PwC, Impax Asset Management, Barclays, Osborne Clarke, and WBCSD. . AXA IM Alts , a global investment management firm with over €190 billion in AUM, is building out its team to support its New Capital Strategy.
Snorre Gjerde, Lead Investment Stewardship Manager, Norges BankInvestment Management (NBIM), said investors should take advantage of the fact that the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD) had borrowed both language and structure from those of the Task Force on Climate-related Financial Disclosures (TCFD).
The only company that has attempted DSM exploitation, Nautilus Minerals, went bankrupt in 2019 as it unsuccessfully attempted to develop its Solwara 1 deep sea copper, gold and silver project off the coast of Papua New Guinea, causing large losses for several banks, including ABN Amro and ING Group.
Customers and investors should exert greater influence over the tropical timber and pulp sectors, sustainableinvestment experts have said, in light of leading sector firms’ failure to reduce and report their exposure to deforestation risks.
ESG Investor’s weekly round-up of moves and appointments in the sustainableinvesting sector, including CPP Investments, CCLA, Vontobel, LeapFrog, Low Carbon, and Brown Advisory. . Richard Manley is the Canada Pension Plan Investment Board’s (CPP Investments) new Chief Sustainability Officer.
To date, investors have engaged more with corporates than governments on the issue, encouraging them to report on their deforestation risks and exercise greater due diligence over their commodity supplychains. It is to take deforestation out of supplychains,” he says, emphasising the centrality of the natural world to the economy.
Large institutional investors such as Norges BankInvestment Management, Storebrand, Nest and the Church of England Pensions Board have announced exits from Russian investments, while many Western corporates have shuttered operations, McDonalds and Coca-Cola among the latest. . “In
Electric vehicle (EV) sales across the world are trending upward, not only driving decarbonisation but reshaping an entire industry and its supplychain. While global EV sales are still rising, there has been something of a deceleration in Europe,” says Sacha El Khoury, Head of Impact Equities at Artemis Investment Management. “The
According to Longo, the strategy aims to enhance transparency, deepen Australia’s green finance markets, and capitalise on the global momentum in sustainable finance. This group has been working on these issues for a number of years now, Longo said.
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