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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. . The post Advocates urge regulation of banks’ climate commitments to avoid greenwashing appeared first on Corporate Knights.
So let’s set the record straight: these shareholder resolutions call for banks to adopt responsible guardrails for transition financing, and to insure against both greenwashing and over-exposure to risky lending practices. Proponents of the resolutions acknowledge the near-term need for fossil fuels.
For institutional investor clients that understand the risks that climatechange (and other systemic risks) pose to their portfolio returns, engagement is an invaluable tool to help mitigate climate-related risks. For climate-related financial risks, decarbonisation and real-world emissions reductions are essential.
Investors will be increasingly subject to direct climate litigation risk in 2024 rather than indirect risks through investments as the types of cases brought evolve. The risk could also manifest in strategic litigation being brought or encouraged by NGOs seeking to compel or exert pressure on investors to change investment strategy.
The Fine Print on Carbon Credits The definitions in the federal document take a fairly expansive view of “inefficient” subsidies that “encourage wasteful consumption, reduce our energy security, impede investment in clean energy sources, and undermine efforts to deal with the threat of climatechange,” as the G20 defined the term in 2009.
Investors will be increasingly subject to direct climate litigation risk in 2024 rather than indirect risks through investments as the types of cases brought evolve. The risk could also manifest in strategic litigation being brought or encouraged by NGOs seeking to compel or exert pressure on investors to change investment strategy.
When it comes to gathering the collective will to tackle climatechange, it is often argued that public policy actions and private sector commitments are mutually reinforcing, spurring each side to go further and faster. The private sector’s ability to accelerate the pace of net zero transition is open to question.
Investors continue to suffer from poor-quality climate-related information in company reports and other statements, particularly from firms with the highest CO2 emissions. That’s the finding of a major new report by Carbon Tracker, the independent think tank that researches the effects of climatechange on financial markets.
Loss and damage relates to climate-related impacts which cannot be adapted to. Loss and damage is happening because we have not adequately tackled climatechange, cut emissions or taken action to adapt. Will a company’s investment take it a step closer towards a net zero world, or will it be a strandedasset tomorrow?
For investors and companies with assets within those key biodiversity areas, this raises the issue of strandedassets. A limited toolbox A further lesson from investors’ experience of understanding and addressing climate risk has been to not let perfect being the enemy of good, from the perspective of information quality.
The taskforce will also consider guidance on avoiding greenwashing strategies, and the simplification of assessing, comparing and interpreting transition plans. . The third recent Intergovernmental Panel on ClimateChange report on climate mitigation identified CCS as an important solution to reducing emissions in hard-to-abate sectors.
And there are wider issues around the VCMs already in operation, such as credit pricing, third-party verification and reducing the risk of greenwashing. . trillion by 2030, to boost resilience and deal with the loss and damage caused by climatechange impacts. . degrees of climatechange. .
Shareholders at other North American banks – including Bank of America, Goldman Sachs, Wells Fargo, Bank of Montreal and TD Bank – have also filed proposals asking for lending and financing policies consistent with the IEA’s scenario for limiting climatechange to 1.5 Risk of strandedassets . degrees Celsius.
The European Commission attempted to bury news of its last-minute move which jeopardises the EU’s Green Deal and greenwashes fossil fuels, Transport & Environment (T&E) says. Originally published on Transport & Environment.
Part 1 of the interview focused on Assaad’s career history and then 5 top greenwashing topics. Part 2, below, starts with a discussion about strandedassets and then resumes Assaad’s list of greenwashing topics. […].
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