The European banking sector has made sluggish progress on tackling the climate crisis in the last three years

According to new research by responsible investment organisation ShareAction, the European banking sector has made sluggish progress on tackling the climate crisis in the last three years. The European Union institutions have been actively trying to bring in the financial institutions to play a bigger role in financing needed low-carbon energy initiatives. One is the … Continue reading The European banking sector has made sluggish progress on tackling the climate crisis in the last three years →

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 →

German-listed companies invested 11 times more in low-carbon investments than British companies

A report has revealed that German-listed companies invested 11 times more in low-carbon investments such as electric vehicles, renewable energy and smart energy grids than UK firms. Germany, Spain and Italy topped the company league table for low-carbon investment last year while the UK finished sixth, below France and Denmark. Jillian Ambrose discusses the results … Continue reading German-listed companies invested 11 times more in low-carbon investments than British companies →

Financing Europe’s green transition

This was a critical week for ensuring the European Union takes a more ambitious approach to the low-carbon energy transition. The European Commission unveiled a €1 trillion investment plan to fight climate change on Tuesday. The Commission proposals would dedicate around a quarter of the EU budget to the task. The proposal has already had … Continue reading Financing Europe’s green transition →

India to pioneer financing clean energy with “Green Window” initiative

In order to leverage limited government funds to attract private capital, the Indian government has announced a new financing approach. Sameer Kwatra and Anjali Jaiswal together with Madhura Joshi and Poonam Sandhu explain the new developments in an article on the Natural Resources Defense Council Expert Blog website. India Announces a “Green Window” to Catalyze … Continue reading India to pioneer financing clean energy with “Green Window” initiative →

EU policy makers sealed a deal to create a classification system for green financial products, aiming to strengthen the rapidly growing market’s legitimacy

Brussels said the framework would help stamp out so-called “greenwashing”, when countries and companies seek to make their environmental credentials look better than they are. Alexander Weber writes for Bloomberg News on the Financial Post website about the adoption of “taxonomy for sustainable activities.” Europe Reaches Deal on Landmark Rules Governing Green Investment European … Continue reading EU policy makers sealed a deal to create a classification system for green financial products, aiming to strengthen the rapidly growing market’s legitimacy →

Canada cannot wait to establish the expertise required to navigate successfully to a low-carbon economy

With its fossil fuel resources that have been a major element of its economy, Canada faces many challenges to address climate change that few in Europe can really appreciate. But increasingly they realise that more must be done. Jim Leech and Sean Cleary of Queen’s University provided this opinion piece to the Globe and Mail. … Continue reading Canada cannot wait to establish the expertise required to navigate successfully to a low-carbon economy →

Latest update on climate finance for mitigation

The SDG Knowledge Hub of the International Institute for Sustainable Development (IISD) provides the October update on climate finance for mitigation compiled by Beate Antonich. Mitigation Finance Update: Finance Flows to Developing Country Cities Can Deliver Maximum Impact Mitigation finance in October reflects renewable energy as the continued dominant destination sector, with investments also … Continue reading Latest update on climate finance for mitigation →

Latest update on climate finance for adaptation

The SDG Knowledge Hub of the International Institute for Sustainable Development (IISD) provides the October update on climate finance for adaptation compiled by Beate Antonich. Adaptation Finance Update: Growing Need Calls for Additional Public and Private Funds October saw continued investment in rural communities as evidenced by financial support for a number of climate … Continue reading Latest update on climate finance for adaptation →

Finance is critical if the world is to meet Sustainable Development Goal (SDG) 7

Olivia Coldrey, Lead Finance Specialist from Sustainable Energy for All (SEforALL) writes on the SDG Knowledge Hub website of the International Institute for Sustainable Development (IISD) about the new investment that is urgently needed to achieve universal energy access by 2030. New SEforALL Research Shows Urgent Investment Needed to Achieve Universal Energy Access by … Continue reading Finance is critical if the world is to meet Sustainable Development Goal (SDG) 7 →