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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.
Timing and influencing the market are vital considerations for asset owners when divesting ESG assets. Since the success of the South African apartheid divestment campaign in the 1980s, investors must contend with similar pressure on other ESG issues, such as the growth of campaigns encouraging them to exit fossil fuels or tobacco.
The UK’s Transition Plan Taskforce (TPT) hit a significant milestone last week with the release of its final set of transition plan resources to help businesses mobilise finance for the netzero transition. At the end of its formal mandate, the taskforce plans to publish a document setting out a forward pathway.
Any forward-looking statements in this document are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. dollar, (18) changes in tax laws or U.S.
A selection of this week’s major stories impacting ESG investors, in five easy pieces. Investors and policymakers signalled mixed progress in their support for netzero transition this week, ahead of a critical report from scientists. If all goes to plan, the key messages will be released Monday.
warning them about the advice they provide to clients regarding ESG initiatives, and advising them to preserve documents related to clients’ ESG practices in preparation for planned activities in Congress to investigate ESG-related antitrust violations.
The document called for more study of global warming, “as a result of which glaciers and the polar caps recede, surfaces of lakes are reduced and ocean temperatures rise.” Divest now for tomorrow For insurance companies that are big institutional investors, that has also meant divesting their holdings in oil, gas and coal projects.
A letter to insurers from US state attorneys-general could have broad implications for the finance sector’s coordinated efforts to support netzero goals. None explained their actions (unlike Munich Re , which left in March); all committed to pursuing netzero goals individually. End of the line? –
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.
There is also the delicate matter of future nature-based land-use and food production conflicts facing investors and soft commodity-driven deforestation, representing other potential clouds on their netzero commitments. And then start the difficult discussions necessary to explore those social and environmental downsides.
While most of the funds’ documentation analysed explicitly cite exclusions relating to fossil fuels and controversial weapons, none outright exclude companies linked to deforestation in their screening process. JBS is widely regarded as an ESG pariah.
The Bonn Climate Conference got under way this week by unveiling a new phase in accountability and transparency of non-state netzero commitments. Race to Zero , previously responsible for non-state campaigns, will partner with UNFCCC in the endeavour. But many investors know they must look beyond their portfolios too.
The letter also seeks a net-zero electricity grid by 2035, a 50 percent target for electric vehicle sales by 2030, and a renewed commitment to international climate finance. The fossil fuels divestment movement continues to grow and as indicated in a recent report by DivestInvest, 1,500 investment institutions, responsible for $39.2
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