In the second quarter of 2022, EU economy greenhouse gas emissions totalled 905 million tonnes of CO2-equivalents (CO2-eq), a 3% increase compared with the same quarter of 2021. The documented increase is largely related to the effect of the economic rebound, which can be drawn from gross domestic product (GDP) growth, following the sharp decrease in activity dueContinue…
Deutsche Bank’s Private Bank CIO published its 2022 ESG client survey findings, revealing that more than half of investors (53%) regard climate change as the most important factor affecting their investment decisions, up from 47% last year. Conducted for the second year running, this year’s ESG CIO survey 2022 foundContinue…
The ISSB Partnership Framework at COP27 is a key announcement towards the implementation of climate-related disclosure standards in 2023 Since the establishment of the International Sustainability Standards Board (ISSB) announced at Glasgow’s COP26 the IFRS Foundation has delivered on its commitments to establish the board, consolidate the voluntary disclosure landscape, embed aContinue…
According to the European Central Bank, despite improvements, banks still need to better identify and manage climate and environmental risks. ECB sets deadlines for banks to progressively meet all supervisory expectations by end of 2024. The European Central Bank (ECB) published the results of its thematic review – Walk the TalkContinue…
In June 2017, the Financial Stability Board’s Task Force on Climate-related Financial Disclosures (Task Force or TCFD) released its Recommendations, which provide a framework for companies and other organizations to develop more effective climate-related financial disclosures through their existing reporting processes. As with previous status reports, this report provides an overviewContinue…
Policymakers must facilitate the scaling of blended finance structures to fund climate solutions if the world is to achieve both the Paris climate goals and the UN Sustainable Development Goals (SDGs), said the UN-convened Net-Zero Asset Owner Alliance. Currently, significant capital to finance clean technology, low-carbon infrastructure, sustainable business modelsContinue…
Momentum is building for a strong political outcome relating to oceans at the UN Climate Change Conference COP27 in Sharm el-Sheikh, Egypt, in November, including greater ambition to cut greenhouse gas emissions, strengthened measures to build the resilience of coastal communities to climate change impacts and the financing needed forContinue…
The letter sent during Climate Week calls for BlackRock to better align their actions with their climate commitments, and their recognition that climate risk is financial risk. BlackRock net zero emissions New York City Comptroller Brad Lander shared a letter to BlackRock, Inc. Chief Executive Officer Larry Fink to express growing concernContinue…
Norges Bank Investment Management publishes a new 2025 climate action plan and sets targets for net zero emissions by 2050 for all companies in its portfolio. The Norwegian sovereign fund, the largest sovereign fund on the planet – 1.200 billion euros – is raising its environmental objectives and announced earlierContinue…
The European Central Bank (ECB) published further details on how it aims to gradually decarbonise the corporate bond holdings in its monetary policy portfolios, on a path aligned with the goals of the Paris Agreement. One goal is to reduce the Eurosystem’s exposure to climate-related financial risk, following the Governing Council’s July 2022 decision toContinue…
