Corporate Knights

SEPTEMBER 16, 2022

A coalition of environmental groups is calling on the federal government to regulate climate commitments made by banks and other financial institutions to avoid greenwashing and accelerate change. . Treasury Department. .

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Corporate Knights

MARCH 24, 2022

In the pursuit of its net-zero 2050 goal, Canada needs a rigorous strategy to require banks and other key financial system players, including Crown corporations, to fully align their operations with the country’s international climate commitments. Matt Price, co-founder of Investors for Paris Compliance.

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Chris Hall

FEBRUARY 5, 2024

Around 90% of EU banks are exposed to climate transition risks, recent analysis from the ECB shows. Banks globally are increasingly feeling two-pronged pressure from regulators and investors to up their climate ambition and stop financing fossil fuels.

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ESG Today

SEPTEMBER 4, 2023

The Hong Kong Monetary Authority (HKMA), Hong Kong’s central banking institution released a series of principles for banks on planning for the transition to a net zero economy, including ensuring that setting objectives aligned with a net zero transition, and embedding transition considerations into internal processes.

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Corporate Knights

JANUARY 21, 2022

Many of the world’s biggest banks face the enormous challenge of realigning their entire loans and investment operations in the coming years to put themselves on a credible path to achieve net-zero carbon emissions by 2050. Royal Bank of Canada and Toronto-Dominion Bank. Royal Bank of Canada and Toronto-Dominion Bank.

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Environment + Energy Leader

JUNE 19, 2023

Annually, countries spend six times more on subsidizing fossil fuel consumption than their commitments under the Paris Agreement.

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Corporate Knights

DECEMBER 19, 2022

“It’s a hugely important symbolic step,” says Matt Price, director of corporate engagement for Investors for Paris Compliance, a group that focuses on the financial industry response to the Paris Agreement climate accord. Matt Price, director of corporate engagement for Investors for Paris Compliance.

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ESG Today

SEPTEMBER 7, 2023

The impact on banks’ businesses would largely be a result of the transition effects on the companies and households which they loan to.

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Impact Alpha

APRIL 26, 2023

In the seven years since the Paris Agreement was signed, companies and governments around the world have pledged to reduce their greenhouse gas. The post Despite their climate commitments, the world’s biggest banks are still pouring billions into fossil fuels appeared first on ImpactAlpha.

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ESG Today

SEPTEMBER 30, 2022

Federal Reserve Board announced Thursday that it will launch a pilot climate scenario analysis with six large banks, aimed at assessing the resilience of the financial institutions to various climate scenarios, and enhancing the ability of supervisors and firms to measure and manage climate-related financial risks.

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Global Renewable News

DECEMBER 21, 2022

By Vanora Bennett Highlights .

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3BL Media

DECEMBER 4, 2023

Serving as a negotiator to the series of Climate Change COP events since COP21 (2015), where the Paris Agreement was adopted, Dr Abdel-Aziz provided the Alliance with exclusive insight into landmark developments and prospects this year. I've been participating since COP 21 when the adoption of the Paris Agreement took place.

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Corporate Knights

MARCH 28, 2023

This cannot continue if we are realistically going to achieve the goals of the Paris Agreement and keep global warming below 1.5 ° C. The new OSFI guideline will require banks and insurance companies to disclose the financial risks they face in a world hit by climate change impacts and shifting toward a low-carbon future.

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GreenBiz

JULY 27, 2020

bank to commit to measuring and disclosing the climate impact of its loans and investments, announcing last week that it has joined a multi-trillion dollar group of global financial institutions developing a standardized method for carbon accounting. Morgan Stanley has become the first major U.S. trillion in assets. trillion in assets.

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Chris Hall

MARCH 15, 2024

Alliance extends net zero targets to capital markets activities, as frameworks provide more tailored approach for banks’ transition strategies. The second of the four guidelines requires banks to establish an emissions baseline and annually measure and report the emissions profile of loans and investments. billion from Barclays.

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GreenBiz

NOVEMBER 24, 2020

Recent months have seen major moves on climate action by some of the world’s largest private banks, including JPMorgan Chase, HSBC and Morgan Stanley. Looking across their investments in different sectors and regions, more banks are considering how to reduce the carbon intensity of entire portfolios over time.

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Chris Hall

JANUARY 28, 2022

Once approved by the European Commission, banks will have to start making climate disclosures in 2023, with full phase-in by June 2024. The European Banking Authority (EBA) has published its final standards for how European banks will have to disclose their contribution to the region’s climate targets.

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Chris Hall

JULY 5, 2023

Investors may be overlooking the issue of climate-related lobbying by banks in the face of increasing evidence of a lack of consistency between their climate commitments and their positions on legislative and regulatory issues. Schroders voted in favour of the first banking shareholder climate lobbying proposal at Wells Fargo this year.

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B the Change

DECEMBER 17, 2022

How Ando Is Greening the Banking Industry — and, Soon, the Insurance Industry B Corp Bank Prioritizes Transparency and Sustainability Over the last several years, a steady stream of studies has exposed the inexorable link between banking and climate change. And the problem doesn’t stop at banking.

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Chris Hall

DECEMBER 14, 2023

The CAD Trust was created last year by the World Bank, The International Emissions Trading Association (IETA), and the government of Singapore. It is a decentralised metadata platform that links, aggregates and harmonises all major carbon registry data to enhance transparent accounting in line with Article 6 of the Paris Agreement.

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Paris Agreement Banking Climate Change Development 59

Chris Hall

APRIL 21, 2023

AGMs to be held by Citi, Wells Fargo, and Bank of America on 25 April, and by Goldman Sachs on 26 April, are seen as key indicators of investment sentiment.

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Chris Hall

FEBRUARY 14, 2022

Banks could face a stormy AGM season, driven by investor concern over their ongoing financial support for oil and gas firms, which are already braced for a slew of shareholder proposals demanding greater transparency over their net zero transition plans. Among the banks targeted are JP Morgan, Bank of America and Citi.

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Corporate Knights

JULY 4, 2022

The expert panel’s assessment will include how low-carbon-transition efforts by corporations and sub-national governments align with national commitments made under the Paris Agreement, which aims to limit average increase in temperatures to 1.5°C. Net-zero commitments proliferated ahead of COP26, held last November in Glasgow.

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ESG Today

FEBRUARY 23, 2023

A group of French NGOs, including Friends of the Earth (Les Amis de la Terre) France, Notre Affaire à Tous and Oxfam France announced today that they have launched a lawsuit against Paris-based global bank BNP Paribas, targeting the bank’s financing for new oil and gas projects.

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3BL Media

AUGUST 30, 2022

Take major banks for example – what are the institutions financing in the context of the Paris Agreement? Take major banks for example – what are the institutions financing in the context of the Paris Agreement? Getting there is a huge challenge for public, private, and social sectors.

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Net Zero Paris Agreement Climate Change Banking 147

ESG Today

FEBRUARY 16, 2023

UK bank Barclays announced a new policy significantly limiting its financing activities for some emissions intensive energy sectors, including ending financing for oil sands companies and projects, and accelerating its phase out of financing for coal-powered generation for clients in OECD economies.

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GreenBiz

OCTOBER 13, 2020

And then there are banks and other financial institutions , which have long been the focus of climate activists. Fifty-five financial institutions including Bank Sarasin, Amalgamated Bank and Standard Chartered are backing the new certification and already have committed to setting science-based targets.

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ESG Today

MAY 6, 2024

The Hong Kong Monetary Authority (HKMA), Hong Kong’s central banking institution, announced the publication of the Hong Kong Taxonomy for Sustainable Finance, aimed at defining and classifying environmentally sustainable economic activities, to help inform decision making and facilitate green finance flows.

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Paris Agreement Greenwashing Climate Change Banking 81

Chris Hall

JULY 28, 2023

C , although he acknowledges that achieving this goal is now more challenging than when the Paris Agreement was first agreed. The bill will be examined by members of the Canadian Senate Banking and Finance Committee from Autumn this year.

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Corporate Knights

JANUARY 26, 2023

It also means cutting off financing for new fossil fuel projects, which HSBC (one of the largest banks in the world) and Lloyds (the largest domestic bank in the U.K.) But as former Bank of England (and Canada) governor Mark Carney has made clear, “the biggest threat to achieving 1.5

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ESG Today

JANUARY 22, 2024

The organization is also involved in a lawsuit launched last year against Paris-based global bank BNP Paribas , targeting the bank’s financing for new oil and gas projects and calling for a strong climate policy, based on a similar “duty of vigilance” law in France.

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ESG Today

MARCH 28, 2023

It equips them with a new tool to assess the level of issuers alignment with climate change mitigation, adaptation, and low-carbon transition objectives, which will be fundamental to contributing towards meeting the objectives of the Paris Agreement.”

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Paris Agreement Climate Change Banking Development 63

ESG Today

NOVEMBER 16, 2023

The new targets form part of the company’s commitment, announced in October 2020 , to align its financing activities with the goals of Paris Agreement, and to help clients navigate the challenges and capitalize on the long-term economic and environmental benefits of transitioning to a low-carbon world. million CO2e.

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Corporate Knights

SEPTEMBER 11, 2023

Banks are shelling out more than US$500 billion a year to finance the largest contributors to climate change in the Global South, a region that is especially vulnerable to the roiling weather disasters gripping the planet. It found that banks have provided an estimated $3.2 It found that banks have provided an estimated $3.2

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Chris Hall

JULY 12, 2023

On top of that, developing countries face a US$4 trillion annual investment gap for the UN Sustainable Development Goals (SDGs). “In principle, 2015 was meant to be an inflection point for development finance – the launch of both the SDGs and the Paris Agreement – which emphasises the importance of mobilising private sector expertise and investment,” (..)

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Chris Hall

MAY 2, 2024

According to blended finance network Convergence’s latest State of Blended Finance report , the market rebounded to a five-year high of US$15 billion in 2023 after ten years of consistently low volumes, with multilateral development banks (MDBs) and development finance institutions (DFIs) investing greater sums. billion in 2023.

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Chris Hall

MAY 4, 2022

UK bank faces investor scrutiny after shareholder rebellion over Credit Suisse climate plans. Barclays is the latest major bank to come under pressure from shareholders in relation to its financing of the fossil fuel sector.

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