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
Members of Alberta’s governing United Conservative Party are debating whether to abandon existing net-zero targets at the party’s annual general meeting in Red Deer this week – a move that would further signal the province’s departure from global and national priorities for mitigating emissions.
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 globalclimate targets by mid-century. Cecilia Keating.
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.
Another landmark report by the Intergovernmental Panel on ClimateChange provides stark warnings but stresses that rapidly putting the globaleconomy on course to net-zero emissions by 2050 could hugely reduce escalating impacts.
Let’s begin with a few headlines: Southern Company commits to net-zero emissions by 2050. Microsoft committed to protect more land than it operates on globally by 2025. Shell plans to achieve net-zero emissions across its product manufacturing operations. Congress to promote climate action. When the U.S.
With more than one quarter of the globaleconomy committed to achieving net-zero emissions over the coming decades, it follows that the shipping sector will be under increased pressure from governments and private players to clean up its act. It is also working to introduce net-zero emissions ships in U.K.
Asset managers’ netzero targets depend on governments living up to their commitments, says Rebecca Mikula-Wright, CEO of AIGCC and IGCC and NZAM Chair. In the past 12 months, signatories have been taking a range of actions to implement their individual netzero commitments.
Now, almost 2,900 are on track to reach the targets set by SBTi for how much and how quickly they need to reduce their greenhouse gas (GHG) emissions to prevent the worst effects of climatechange. At this point, the question is not whether major companies will commit to net-zero emissions, but how they plan to achieve this target.
Updated and more ambitious Benchmark used to assess focus companies on their netzero transition plans. Benchmark assessments are a cornerstone of Climate Action 100+ and are intended to help inform investors’ engagement strategies and wider public debate. C remains possible due to the growth of clean energy technologies.
We must look to the future by enabling an economy-wide transition to net-zero; and focus on the present by helping society to adapt and become more resilient to climate risks. This will help to mobilize the capital required to enable the net-zero transition.
Net-zero" became a key commitment during 2020 — goals that aim to eliminate, at least on paper, a company’s greenhouse gas emissions, water extractions, fossil-fuel use or deforestation activities by a given date. That’s changing. Given this, it was not surprising to see an uptick in corporate ambition on sustainability issues.
Financial firms have pledged that more than US$130 trillion of assets will be net-zero by 2050. And 130 countries have also promised to reach net-zero emissions by 2050, including all the G7 countries and South Africa. What is the right speed?
The Monetary Authority of Singapore (MAS), the central bank and financial regulator of Singapore, announced today the issuance of a set of consultation papers with proposed guidelines on netzero transition planning for financial institutions, including banks, insurers and asset managers.
president will be taking aim at legislation that resulted in nearly US$300 billion in private-sector investments in clean energy, battery manufacturing and clean power generation, most business leaders recognize that concerns about a worsening climate crisis will grow regardless of shifting political winds. CLIMATE COMMITMENTS 1.5C
DESCRIPTION: Two weeks ago, global business and political leaders met at the annual World Economic Forum in Davos to discuss geopolitical and environmental challenges. The need to move towards a net-zeroeconomy, regenerative businesses, and an inclusive globaleconomy were the key topics on the agenda.
As the lynchpin of the globaleconomy, financial institutions not only carry a responsibility to help mitigate climatechange, they are also vulnerable to its financial risks. The SEC has recently recognized this in their proposed rule requiring financial institutions to report on climate risk in financial terms.
The new Deloitte Center for Sustainable Progress report, “Work toward netzero: The rise of the Green Collar workforce in a just transition,” presents a detailed look at the impacts of decarbonization, with a particular focus on the workforce., ” Click here to access the Deloitte report.
With ESG gaining more attention and more companies committing to reaching net-zero emissions in the coming decades or otherwise pledging to do better by people and the planet, it’s inevitable that the next generation of professionals in the field will define the future of sustainable finance. Deonna Anderson. Mon, 05/10/2021 - 01:30.
Despite the reductions in air travel and the global economic slowdown caused by the pandemic, climatechange sadly has not slowed down this past year. We have only until 2030 to get things on track for a net-zero and nature-positive economy — this should sharpen our minds for action.
food sector have disclosed their climate transition strategies nor concrete actions to achieve them, despite increasing investor pressures and the growing threats of climatechange. The Investor Guide to Climate Transition Plans in the U.S. None have published a climate transition plan.
Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 Finance climate action Financing climate action can take many forms, such as green bonds or sustainability-linked loans.
A new report sets out a strategy for achieving netzero concrete and cement. The sector currently generates 8% of global CO2 emissions: more than aviation and shipping combined. The challenge of increasing emissions is becoming more urgent as production of concrete and cement is increasing to meet global needs.
It is also a significant carbon emitter, estimated to account for up to 10 percent of all global emissions. Many fashion companies and organizations — plus a growing number of legislative bodies — know this needs to change.
Investors have made pledges towards netzero, they are taking action by engaging with companies, and are increasingly vocal and responsible stewards of the capital they manage. Addressing system-level risks and considering climate goals is not only permitted but may be required by existing investor duties and obligations.
Investors and companies to call on goverments to implement a clear set of policy asks including mandating climate disclosure, phasing out fossil fuels, and delivering an equitable and just transition. the world is not on track to meet its climate goals. The latest National Climate Assessment found the U.S.
The COP28 decision text, released Wednesday morning, included language about “transitioning away from fossil fuels in energy systems” and “reducing both consumption and production of fossil fuels in a just, orderly and equitable manner so as to achieve netzero by, or before, or around 2050 in keeping with the science”.The
Understanding Climate Scenario Analysis What is climate scenario analysis? Climate scenario analysis is a strategic tool used by businesses to evaluate the potential impacts of climatechange on their operations, assets, and overall business strategy.
Amidst the escalating impacts and threats of climatechange, heads of state, negotiators, climate scientists, activists and business leaders prepare to meet for COP27, taking place in Sharm El-Sheikh, Egypt. The consequences of inaction are already being felt globally, with the world’s vulnerable most severely impacted. .
Net-zero commitments exploded last year, with the number of companies making them doubling. Race to Zero, part of the U.N. Framework Convention on ClimateChange, estimated that net-zero commitments covered about 68 percent of the globaleconomy in 2021, compared to just 16 percent in 2019, a more than fourfold increase.…
ESG ratings, data, and research provider Morningstar Sustainalytics announced today the launch of its Low Carbon Transition Ratings, aimed at providing investors with an assessment of a company’s alignment with a netzero pathway, based on an evaluation of its strategy and actions as well as scenario analysis.
A group of nearly 300 financial institutions representing almost $29 trillion in assets are urging some of the world’s highest impact companies, including Exxon, Chevron and Caterpillar, to disclose environmental data on themes including climatechange, water and forests, through the CDP environmental disclosure platform.
Originally published in Bloomberg's 2023 Impact Report Structural and systemic shifts accompanying climatechange, such as resource scarcity, new technologies and regulations, pose business risks and offer opportunities to issuers and investors globally. Reporting on the business and science of climatechange Bloomberg L.P.’s
The transition to a just, resilient, net-zero future is not possible without small and medium-sized businesses, known as SMEs. They are the engine of today’s economy and the backbone of global supply chains, accounting for about 90% of all businesses and around 70% of jobs worldwide.
The proposed solution for netzero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. The Recognition and Accountability Framework for non-state actors and a draft implementation plan were unveiled at Bonn by UN ClimateChange (UNFCCC).
Originally published on about.bnef.com BloombergNEF (BNEF) announced the winners of its 2024 Pioneers award, recognizing 11 early-stage companies working to introduce technologies and products that will accelerate global decarbonization and halt climatechange.
climate action and investments, as public and private sector leaders raise their ambition, deliver on commitments, implement policies to capitalize on the opportunities in the necessary transition to a zero emissions future, and ensure public finance to support adaptation and resilience for developing nations.
The UN-convened Net-Zero Asset Owner Alliance’s Jake Barnett and Patrick Peura make the case for complementary forms of stewardship to drive systemic change. One of the most important tools to support this change is engagement, whereby investors use their leverage as stewards of capital to influence change.
CPP Investments said that Manley’s responsibilities in his new role will include leading the “further refinement and execution of a roadmap for CPP Investments to prudently navigate the globaleconomy’s transition to address climatechange.”
Originally posted on GFANZ on September 19, 2023 The Glasgow Financial Alliance for NetZero (GFANZ) Secretariat today launched a consultation on its work to further refine the definitions of its transition finance strategies and support financial institutions to forecast the impact of these strategies on reducing emissions.
announced the launch of its new Sustainable Investments 2030 Strategy, aimed at accelerating its transition to a netzero emissions portfolio, and including a new pledge to invest $100 billion in climate solutions by 2030.
Global management consulting firm McKinsey & Company’s sustainability-focused platform McKinsey Sustainability and Moody’s financial intelligence and analytical tools unit Moody’s Analytics announced today the launch of a suite of solutions aimed at helping banks identify, measure, and act on climatechange-related risks and opportunities.
DESCRIPTION: Carbon emissions have, in the years following the ratification of the Paris Climate Agreement (2015), been established as the predominant issue in corporate sustainability discourse and strategy. One recent study found that netzero commitments now cover at least 68% of the globaleconomy.
The organizations’ key functions include defining and promoting best practice in emissions reductions and net-zero targets in line with climate science, providing technical assistance to companies who set science-based targets, and providing companies with independent assessment and validation of their emissions reduction targets.
C. Climate-focused stewardship has rocketed up the agenda for investors in recent years, as asset owners and managers look to align their portfolios with a 1.5°C
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