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
Pressure on creatives: PR, advertising firms targeted by fossil fuel divestment movement. Airlines have faced "flygskam" — or flight shame — which has seen some travelers shun air travel, heightening pressure for the sector to demonstrate that it can develop a flight path to net-zero emissions. Michael Holder. spent almost $1.4
The sale marks the third time in the last year that OMERS has divested a major fossil fuel asset. . As pension plan members, we’ve been asking OMERS to either demonstrate how its fossil fuel assets have credible decarbonization pathways or divest them. And OMERS might finally be listening. .
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.
Vanguard, one of the largest investment managers in the world, announced today that it is withdrawing from the NetZero Asset Managers initiative (NZAM), a major multi-trillion dollar group of investment managers committed to supporting the goal of netzero greenhouse gas emissions by 2050.
Mikkelsen also likes to say that Sims – the top-ranked firm on the Corporate Knights 2024 Global 100 list of the world’s most sustainable publicly traded corporations with more than $1 billion in revenue – is not a Johnny-come-lately to the circular economy in general and the business of decarbonizing steel in particular. “We In 2022, a B.C.-based
He shared the stage with Teine Energy and Wolf Midstream, two Alberta-based fossil fuel companies owned by CPPIB – neither of which have committed to net-zero emissions. The only credible pathway to zero emissions for oil, gas and coal companies is to phase out production. This “consensus” is imaginary.
JPMorgan Chase, BlackRock and Citigroup were among a list of financial companies informed that they face potential divestment by Kentucky state government entities unless they stop “boycotting energy companies,” according to a statement released Tuesday by Kentucky State Treasurer Allison Ball.
Last month, the Canada Pension Plan Investment Board (CPPIB) released its 2022 Report on Sustainable Investing , highlighting its commitment to be net-zero by 2050 and its engagement strategy to pressure companies to manage climate risks. requires an immediate end to fossil fuel expansion and a rapid phase-out of production.
Netherlands-based PFZW, one of the largest pension funds in Europe, announced that it has exited its investment in over 300 fossil fuel companies, including Shell, BP and TotalEnergies, over a lack of convincing decarbonization plans, with only seven remaining in its portfolio. billion of securities.
Free acknowledged that while these efforts are important and worthwhile, there needs to be more focus on decarbonization. Fortunately, in the past year, investors have started focusing more on decarbonization and offsets, according to Free. While ESG funds are at all-time highs, increasing by 50% this year to $2.7
Department of Energy (DOE) Office of Clean Energy Demonstrations to begin award negotiations for up to $125 million in Bipartisan Infrastructure Law and Inflation Reduction Act funding as part of the Industrial Demonstrations Program (IDP). dollar, (18) changes in tax laws or U.S.
KLA Commits to Cut Emissions in Half by 2030, Reach NetZero by 2050. HH Global Ramps 2040 NetZero Goal to 90% Emissions Reduction. Firmenich Commits to NetZero Emissions by 2039, Climate Targets Approved by SBTi. BlackRock-Temasek Decarbonization Fund Backs Climate Action Solutions Startup Carbon Direct.
Actions and ambitions towards decarbonization have also increased. Every company and every industry will be transformed by the transition to a netzero world.”. More than 1,000 companies have now committed to a net-zero-emission target in line with a 1.5°C Sustainable investments have now reached $4 trillion.
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.
TotalEnergies has set a climate goal to achieve netzero emissions by 2050, and the company said that its focus is first to avoid emissions, and then to reduce them asset by asset, implementing the best available technologies, and to develop industrial projects for carbon storage to address residual emissions.
In additions to significantly growing its dial-movers list from 60 companies to 105, the expectations for those companies has been expanded to incorporate biodiversity risk and climate lobbying, in addition to netzero target setting and climate-related disclosure. C scenario.
billion green bond to build new netzero chemical plant, and more. Billion Green Bonds to Fund New NetZero Chemical Plant Private Equity & Venture Capital Industrial Decarbonization Startup Celadyne Raises $4.5 Billion to Build Gigafactories Across Europe Dow Issues Inaugural $1.25
The letter, signed by BlackRock Head of External Affairs Dalia Blass, was sent in response to a letter from the Attorneys General sent in August accusing BlackRock of acting with “mixed motives” in its pursuit of an anti-fossil fuel and pro-netzero agenda, indicating “rampant violations” of its fiduciary duty to the states’ pension investors.
Similarly, Accenture has found – as exemplified by assessing the 1,000+ largest listed European companies – that the vast majority are not on track to hit their netzero climate goals. Reaching netzero. Still however, there is no standardisation on how to evaluate and validate forthcoming targets.
politicians that the firm “boycotts” energy companies, stating that “BlackRock has never supported divesting from traditional energy firms.” Fink wrote: “Even the most climate conscious among them saw that their long-term path to decarbonization will include hydrocarbons, albeit it less of them, for some time to come.”
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.
BlackRock’s website also carries a ‘2030 netzero statement,’ which states that “our role is to help them navigate investment risks and opportunities, not to engineer a specific decarbonization outcome in the real economy.”
anti-ESG push has seen Florida pull $2 billion in assets from BlackRock’s management, placed on a list of ESG-supporting asset managers subject to potential divestment by Texas, and subject to accusations of “boycotting” energy companies by 19 state Attorneys General, including Tennessee. and holding back energy companies from producing oil.
In 2021, we launched the Zero Carbon Project to help our top suppliers halve their CO2 emissions in less than five years. We couldn’t have initiated such an impactful project if we hadn’t been able to bring together our various experts on the environment, decarbonization, digital services and more.
BNEF expects a larger jump in 2023 thanks to even more generous tax credits for carbon capture, utilization and storage (CCUS) included in the US Inflation Reduction Act, and an acceleration in net-zero transitions by European companies. The divestment movement will wane. Julia Attwood, head of sustainable materials.
A 2050 net-zero vision may be an inspiration, but it is not a plan. This transition will require a far sharper focus on short-term, sector-specific benchmarks tied to decarbonization pathways — starting with the high-impact industries that matter most for solving the climate crisis. . Integrate climate into core business.
On a panel discussing Climate Engagement Canada – an initiative to foster dialogue between finance and industry for a just transition to a net-zero economy – TD Asset Management’s managing director, Priti Shokeen, said that her team now expects portfolio companies to make sustainability disclosures.
Moreover, an academic study just published in the Journal of Banking and Finance found that “decarbonization selling pressure” does negatively affect the stock prices of divested firms and contributes to the reduction of these firms’ carbon emissions. Indeed, this year’s proxy season in the U.S.
The Church of England has announced it will divest from Shell, finally acknowledging the failure of more than a decade of investor efforts to convince the oil and gas sector to align with global climate goals. The respected investor is now divesting from all fossil fuels by the end of 2023 and will no longer try to engage with oil and gas.
These goals include net-zero GHG emissions economywide by 2045 and net-negative emissions thereafter, along with a 40% reduction in statewide GHG emissions from 1990 levels by 2030 and 80% by 2050. SCE’s Long History of Clean Energy Action. Department of Energy and the Los Angeles Department of Water and Power.
Million Exec Moves Caterpillar Appoints George Moubayed as Chief Sustainability Officer Reports, Surveys & Studies Climate Tech Investment Falls in Tough Market, But Hits Record Share of VC and PE Funding: PwC 80 Million Kilometers of Grid Investment Needed by 2040 to Meet Global Climate Goals: IEA
As is their wont, many companies used the occasion to proclaim updated commitments — the buzzword du la semaine was "net-zero" with Walmart declaring a zero-emissions target by 2040 along with a big clean fleet promise and a pledge to "protect, manage or restore" at least 50 million acres of land and 1 million square miles of ocean by 2030.
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