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

GreenBiz

In an open letter to its clients, HSBC CEO Noel Quinn said the bank had been motivated to ramp up its environmental ambition by customer concern about climate change. "We We are committed to developing products that allow them to invest or participate in efforts to bring about a more sustainable global economy.".

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Aligning Capital to Ambitious Climate Goals

Chris Hall

As we approach COP29, which (roughly) coincides with the fourth anniversary of the Net Zero Asset Managers initiative (NZAM), it’s an excellent moment to reflect on progress and reaffirm the individual commitments of NZAM signatories to accelerating the transition to a net zero global economy.

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NGFS Releases its First Short Term Climate Scenarios

ESG Today

The NGFS was established in 2017, with the purpose of helping to strengthen the global response required to meet the goals of the Paris agreement and to enhance the role of the financial system to manage risks and to mobilize capital for green and low-carbon investments in the broader context of environmentally sustainable development.

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A new Swedish iron processing project could disrupt the global steel industry

GreenBiz

However, the company’s plan to invest up to $46 billion over the next 15–20 years to expand into an emissions-free iron process being piloted in Northern Sweden is big news for Sweden, the global steel industry and future generations around the world. Change requires exploration of new concepts and solutions.

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

GreenBiz

The green groups behind the report have warned of an "alarming disconnect" between the global scientific consensus on climate change and the ongoing practices of the world's leading banks. trillion to coal, oil and gas companies in the five years since the Paris Agreement was signed, it calculates.

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Green groups urge UN to raise climate ambition on global shipping

GreenBiz

Campaigners maintain that stronger ambition is required given that the 2030 target the IMO is working towards — a 40 percent reduction in carbon-intensity emissions — is not aligned with the Paris Agreement in the first place. Climate Change. Shipping & Logistics. Corporate Strategy. Sustainable Shipping. BusinessGreen.

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The world has consumed half a trillion tonnes of virgin materials since the Paris Agreement

Envirotec Magazine

The throwaway global economy is fuelling the climate crisis with more than half a trillion tonnes of virgin materials consumed since the 2015 Paris Agreement, according to a report from impact organisation Circle Economy launched on 19 January. World leaders committed to limit climate change to 1.5°C