EU green finance getting more serious

Kate Abnett and Simon Jessop write on the Reuter’s website that new taxonomy rules will be tighter for buildings but much less so for the shipping industry. No doubt you will be reading more about latest developments in taxonomy. On November 20th, the Commission launched a stakeholder feedback period on the draft Commission Delegated Regulation supplementing … Continue reading EU green finance getting more serious

Investors are pushing major European companies to make sure the “missing” costs of climate change are properly reflected in their financial statements

 European and U.S. investors, who manage $9 trillion in assets, have sent 36 carbon-heavy companies a document setting out how they should account for the likely impact of the 2015 Paris climate accord on their future profits. Matthew Green and Simon Jessop explain latest developments in an article on the Reuters website.   Investors tell … Continue reading Investors are pushing major European companies to make sure the “missing” costs of climate change are properly reflected in their financial statements

World’s publicly financed development banks pledge to use their financial muscle to rescue the global economy from the Covid-19 crisis and the climate emergency

The goal must be to build economies that are sustainable, resilient and inclusive says one head of a development bank. Encouragingly, we are seeing development banks take a more co-ordinated, integrated approach to address recovery plans and the need to ensure the Paris climate objectives are met.  Fiona Harvey explains in an article on The … Continue reading World’s publicly financed development banks pledge to use their financial muscle to rescue the global economy from the Covid-19 crisis and the climate emergency

New IISD report: G20 backtracks on fossil fuel funding phase-out

G20 governments are still spending more than half a trillion USD on oil, gas, and coal each year—and the pandemic has likely undone any progress on phasing out this support. In Doubling Back and Doubling Down: G20 Scorecard on Fossil Fuel Funding, researchers considered recovery commitments and pre-pandemic policies to rank G20 countries' progress in … Continue reading New IISD report: G20 backtracks on fossil fuel funding phase-out

Targets for emissions cuts released by Chinese government this week

China will use energy more efficiently over the next five years and expects its carbon emissions to be on a steady decline by 2035 at the latest, according to a roadmap for the country's development released after top-level political meetings this week. Kevin Foster explains latest developments on the Argus website.   China lays out … Continue reading Targets for emissions cuts released by Chinese government this week

The world of business is going through a period of dynamic transition as it joins the battle against climate change

Trillions of dollars flooding into climate solutions are transforming finance, a sector that has been energised by a green transformation almost invisible to most of us outside the finance industry. Don Pittis discusses recent comments by Mark Carney in an article on the Canadian Broadcasting Corporation website.   Mark Carney says smart money needs better … Continue reading The world of business is going through a period of dynamic transition as it joins the battle against climate change

A “credible” carbon offsetting market is being set up, led by former Governor of the Bank of England, Mark Carney

The former Governor of the Bank of England has established a private sector task force to establish standards for the booming market. The task force will “establish the standards for the infrastructure around a voluntary carbon market.” Hayley Dixon explains in an article on The Telegraph website.   Mark Carney to set up 'credible' carbon … Continue reading A “credible” carbon offsetting market is being set up, led by former Governor of the Bank of England, Mark Carney

Understanding the EU Emissions Trading System (ETS)

We must reduce GHG emissions to net zero by 2050 to have a reasonable chance of limiting global warming to 1.5C. Human activities - mainly the burning of fossil fuels - are currently emitting far too much CO2 every year. One approach to reducing CO2 emissions is emissions trading – it is carrot-and-stick: emitters of … Continue reading Understanding the EU Emissions Trading System (ETS)

Insights into the magnitude and ambition of climate-related investment targets

The first analysis of financial sector climate-related investment pledges is available on the New Climate Institute website.   Unpacking the finance sector’s climate related investment commitments Financial institution’s climate-related investment targets have rapidly grown in recent years. In this report, we provide insights into the magnitude and ambition of these targets, and investigate their relationship … Continue reading Insights into the magnitude and ambition of climate-related investment targets

A struggle between the few financial institutions that are pushing for an ambitious new European green finance policy framework and incumbent vested interests opposing it

New analysis from InfluenceMap warns 19 out of 20 industry lobby groups are actively opposing measures contained within the EU's proposed Sustainable Finance Strategy. This article was published on the Business Green website.   Are 'vested interests' threatening the EU's sustainable finance strategy? EU efforts to establish an ambitious sustainable finance policy are being undermined … Continue reading A struggle between the few financial institutions that are pushing for an ambitious new European green finance policy framework and incumbent vested interests opposing it