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Proposals to bolster sustainable finance in Europe include recommendations for a new region-wide stewardshipcode. Hungry for change – With six years to go, UN Sustainable Development Goal (SDG) 2 – which aims to end hunger, achieve food security and improve nutrition – is back to square one, at best.
Government plans to ease access to illiquid assets, but expects more robust stewardship. Paris alignment. Coffey also confirmed the introduction of new rules requiring pension scheme trustees to report on the alignment of their portfolios with the goals of the ParisAgreement, taking effect from 1 October.
Data gaps shouldn’t prevent large pension schemes from beginning to measure and disclose the extent of portfolio alignment with the ParisAgreement, said the UK government following its consultation on climate and investment reporting.
Stewardship is widely considered one of the most effective tools in an asset owner’s toolbox to ensure companies are prioritising ESG-related issues, such as mitigating the effects of climate change. . “ The DWP pointed to the IIGCC’s Net Zero Stewardship Toolkit as a useful resource.
It instead noted that policies should “consistently promote the appropriate use of stewardship by investors as part and parcel of discharging their duties”. The PRI’s guide also said there will likely be greater emphasis on implementation and greater scrutiny of the actions that investors are taking over stewardship.
Oil and gas major Shell is under increasing pressure ahead of its annual general meeting (AGM) on 23 May, with asset owners like PGGM and the Church of England Pensions Board announcing their support for a shareholder proposal calling for the company to align its Scope 3 emissions target with the ParisAgreement. Car manufacturer Toyota is facing (..)
Big shifts and giant leaps – Ahead of next week’s SDG Summit , the UN published a report outlining the science-based “transformational shifts” (or “ systems transformations ”) needed to achieve the 17 Sustainable Development Goals , replacing the incremental and insufficient process made since 2015.
In particular, it indicated that it was likely to rule against Shell – or anyone else for that matter – developing new oil or gas fields for which there is no carbon budget. But it was the energy transition’s impact on mineral-rich developing countries that was in focus for some at COP29. “We
New Zealand’s government is also committed to work on a sustainable taxonomy across Australia and New Zealand to enhance interoperability, says Kelly and the NZ Super Fund has shifted about 40% of its overall investment portfolio to market indices that align with the ParisAgreement.
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