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

World’s largest investment banks provided financing linked to destruction of ecosystems

Phoebe Weston writes on The Guardian website about the world’s largest investment banks provided more than $2.6tn (£1.9tn) of financing linked to the destruction of ecosystems and wildlife last year, according to a new report.   Banks lent $2.6tn linked to ecosystem and wildlife destruction in 2019 – report The world’s largest investment banks provided … Continue reading World’s largest investment banks provided financing linked to destruction of ecosystems

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

Analysis of 35 leading investment banks shows financing of more than $2.66tn for fossil fuel industries since the Paris agreement

Patrick Greenfield and Kalyeena Makortoff write in The Guardian that recent analysis shows that the world’s largest investment banks are failing to respond to the climate crisis.   Study: global banks 'failing miserably' on climate crisis by funneling trillions into fossil fuels The world’s largest investment banks have funnelled more than £2.2tn ($2.66tn) into fossil … Continue reading Analysis of 35 leading investment banks shows financing of more than $2.66tn for fossil fuel industries since the Paris agreement

Barclays Bank makes new move into sustainable finance

The Climate Action website provides a news item about Barclay’s Bank announcing a new green trade loan for businesses. Climate Action works in a unique, contractual partnership with the United Nations Environment Programme (UNEP).   Barclays unveils new ‘green trade loans’ for businesses Barclays’ annual general meeting in London may have been disrupted by climate … Continue reading Barclays Bank makes new move into sustainable finance

New report from UNEP and World Bank on sustainable finance

Natalie Risse writes on the SDG Knowledge Hub of the International Institute for Sustainable Development (IISD) about the recently published roadmap for sustainable finance.   UN Environment, World Bank Issue Sustainable Finance Roadmap A report from UN Environment and the World Bank Group finds that sustainable finance requires a strong commitment from business owners and … Continue reading New report from UNEP and World Bank on sustainable finance