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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.
With the long-term goal of netzero in mind, it may be tempting for investors to focus on capitalizing ESG trailblazers over ESG laggards. Engaging for NetZero. By 2040, the company aims to be netzero and expects their carbon management business will overtake their traditional business.
In October, the annual PRI in Person conference kicked off in Toronto with opening remarks from Luke Gould, the CEO of Mackenzie Investments, a Canadian leader in responsible investing and the lead sponsor of the event. Sustainability is more than a buzz word. We buy and sell companies all the time for a variety of reasons, quite frankly.”
Consider this: In April, Royal Dutch Shell, one of the largest companies in the world, announced its intent to become a net-zero carbon company by 2050. Extreme weather events are the biggest contributor to power outages and will increase with climate change, which the Department of Energy estimates costs the U.S.
It’s the result of rapidly increasing underwriting losses to climate-driven events that insurers and reinsurers are seeing worldwide.” Insurance companies often offer policies that cover directors’ and officers’ liability insurance for corporations, in the event they get sued for negligence. billion and US$9.9
C, and investee companies are not yet facing full scrutiny of their netzero transition strategies, posing challenges for institutional investors committed to decarbonising their portfolios in line with the Paris Agreement. Others might set a target for some or all portfolio companies to be netzero aligned by 2030.
An investor’s decision to divest “doesn’t mean an end to all ESG-focused engagement with that company”, according to Eric Nietsch, Head of Sustainable Investing for Asia at Manulife Investment Management. . There’s ultimately a place for both engagement and divestment,” said Nietsch. “If Multi-year effort .
Both were speaking at a panel session on putting netzero commitments into practice on the second day of the event, hosted by the UN-convened Principles for Responsible Investment (PRI) this week in Toronto, Canada. The post Investors Told to Embed Sustainability at PRI Event appeared first on ESG Investor.
This overtook the Marinara dam disaster as Brazil’s most catastrophic environmental event, which killed 19 people and destroyed the village of Bento Rodrigues in 2015. The authorities and companies involved must step up as soon as possible and prevent these wholly unacceptable events.”. Disputing divestment.
Public and private sector coordination provides the theme – and events of Nairobi, London and Rio de Janeiro the backdrop – for this week’s digest. What this bodes for the NetZero Data Public Utility we shall soon find out, in Bonn probably. A selection of the major stories impacting ESG investors, in five easy pieces.
“These new requirements are part of a bigger push right across the economy for new standards on environmental reporting to weed out greenwashing and support our transition to a netzero financial system – for example, through our new Sustainability Disclosure Requirements ,” she said.
Pension fund makes case for divestment, against backdrop of increasingly positive climate policy across major markets. In response, PME has divested from fossil fuel investments and redirected the funds towards the energy transition by focusing on solar and wind projects.
Events this week underlined calls for acceleration by GFANZ Co-chair Carney. To finance the sustainable revolution, we need to bring a faster netzero transition and reduced carbon leverage to the heart of our system,” he observed. Does this mean polluters’ netzero plans are now on the right track?
A fragmented policy environment for the netzero transition requires investors to adopt a holistic approach to engagement, says BNY Mellow Sustainability Head. If global temperatures rise above 1.5°C, However, she noted that the climate policy globally remains insufficient.
The 2015 Paris Agreement (COP21) also played a key role in highlighting the significance of climate issues, he says; it was evident that many private players, including corporates and investors were striving to enhance their climate commitments leading up to the event.
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. More policy action is promised, later this month, in an event dubbed ‘ Green Day ’.
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. It is also engaging with various policy bodies, such as the Coalition of Finance Ministers for Climate Action and GFANZ.
Speaking at the event, UN Climate Change Executive Secretary Simon Stiell noted the risks of desertification across the continent, which is claiming 4.4 The announcement last week of a consultation on the sector’s role in Britain’s netzero transition only added to its challenges. million hectares annually.
Aviva Investors expressly referred to divestment as a potential strategy to achieve these goals. But he said Blackrock would not pursue a divestment policy from fossil fuels, although the firm would allow clients to do so.
Financial institutions need to work with emitters instead of jettisoning them to green their portfolios, said panelists at the Unlocking Capital for Sustainability event organised by Eco-Business.
It will help investors get up to speed on the least-understood risk in the economy. “This strategy is designed for the real, system-wide adjustments that will make sure we’re not divesting, we’re investing in a climate resilient economy.” Further, only 9% have implemented a response to their physical risk exposure. “It
TIUK said impact investors too often neglect to follow up on pre-investment due diligence, responding only after further events arise to cause concern. Last year the Impact Taskforce called for G7 governments to take swift action to mobilise capital for a just and inclusive net-zero transition. Lessons of experience.
C increase over pre-industrial temperatures was hanging by a thread at the end of COP26, subsequent economic and geopolitical events appear to have dealt a blow to those ambitions – at least in the short term. That does not mean divesting to ensure the portfolio looks good in the quarterly report.
Asset owners must use all available levers to phase out fossil fuels, while also rapidly increasing investment in climate solutions to achieve netzero ambitions, according to Laura Hillis, Director, Climate & Environment, Church of England Pensions Board (CoEPB).
Russia’s invasion of Ukraine is leading to a rapid reappraisal of ESG risks by asset owners, including enhanced scrutiny of human rights and governance risks across portfolios, and a reaffirmed commitment to netzero targets. . said Matthews, also speaking at the PLSA event. .
De-risking in response to global events is narrowing allocations, however, with a decrease in investment to alternative markets despite there being growing interest in areas such as green energy infrastructure. Risk appetite fall. Engagement to the fore.
As extreme weather events grow in both frequency and magnitude under the changing climate, decarbonisation plans need to be adapted to build resilience to these more potent extremes. Companies should evaluate the system design components which are concurrently vulnerable to extreme heat events.
Carbon-Free, Infrastructure & Other (CFIO) reported a Net Loss of $174 million ($0.35 This compares to a second quarter 2021 Net Loss of $486 million and non-GAAP Operating Earnings of $47 million, which included results of the divested fossil and solar assets. This event can be accessed by visiting [link] to register.
Many of the communities dealing with this recent flooding have already had to deal with a range of cascading climate events in recent years. What are Australia’s stated netzero goals? Australia adopted an economy-wide target of netzero emissions by 2050 in the run-up to COP26.
Despite many pension funds declaring their frustration at laggardly transition planning in the sector, as engagement yields limited results, divestment still seems to be the hardest word. Of pensions and profits – Oil and gas profits were also in the news with higher-than-expected profits announced by BP and Shell among others.
“Environmental issues have been a top priority for trustees, particularly with the publication of the IPCC [Intergovernmental Panel on Climate Change] reports and various commitments to netzero,” she says. Understanding how a portfolio addresses or contributes to systemic risks will help trustees plan for the long term.”.
For asset owners which assign responsibility to external managers, the PRI and TAI’s work will “hopefully give asset owners a way to compare different investment managers’ resources and practices”, said McNamee.
Forward-looking statements reflect the company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. dollar, (18) changes in tax laws or U.S.
Climate risk and resilience are largely modeled by insurance companies, looking at how a company’s assets may be affected by rising sea levels, extreme heat, increasing natural disasters and other future climate events as climate change worsens. KEYWORDS: NASDAQ:NDAQ, NASDAQ, climate investing, sustainable bonds, NetZero.
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? –
As with virtually all gatherings of the climate community during the COVID age, this year’s Climate Week was convened as an online event — one hosted from more than 20 countries across myriad time zones rather than its usual host city of New York. . The intention is to align its portfolio with the goals of the Paris Agreement.
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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