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Fossil fuel expansion will be the litmus test for banks’ net-zero promises

Corporate Knights

Civil society organizations are gearing up to hold financial industry players accountable on the lofty commitments they made at COP26 in November. trillion in financing to the fossil fuel sector worldwide between 2016 and 2020, according to a report, Banking on Climate Chaos, produced by a coalition of environmental advocacy groups.

Net Zero 246
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A new year’s resolution for federal pension funds: Stop financing fossil fuels

Corporate Knights

In early December, Canada announced it would implement the Glasgow Statement , a multilateral commitment signed at last year’s COP26 to end international public financing for fossil fuels by the end of 2022 and fully prioritize the clean energy transition. Between 2016 and 2019, EDC provided an average of $10.6 billion in 2020.

Net Zero 290
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Making the UK’s net zero target real: Professional services firm comments on progress

Envirotec Magazine

“With the UK hosting COP26 in Glasgow in 2020, the country’s actions will be under close scrutiny and there will be nowhere to hide if we fall short of doing our part,” said Kiran Sura of PwC. Achieving the UK’s commitment to achieve net zero emissions by 2050 will require an annual decarbonisation rate of 9.7%.

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CDL’s integrated sustainability report 2022 zeroes in on bolder decarbonisation targets 

Corporate Knights

One of 44 global signatories to pledge to WorldGBC’s Net Zero Carbon Buildings Commitment covering a whole life carbon emissions approach . Raised Scope 1 and 2 carbon emissions intensity reduction target to 63% from new baseline year 2016, validated by Science Based Targets initiative .

Net Zero 147
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CDL's Integrated Sustainability Report 2022 Zeroes in on Bolder Decarbonisation Targets

3BL Media

DESCRIPTION: One of 44 global signatories to pledge to WorldGBC’s Net Zero Carbon Buildings Commitment covering a whole life carbon emissions approach. Raised Scope 1 and 2 carbon emissions intensity reduction target to 63% from new baseline year 2016, validated by Science Based Targets initiative.

Net Zero 130
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SBER 1st Quarter Symposium – Part 1 – Global ESG Strategy and the New SBTi Net Zero Standard

Sustainable Round Table

The first half of the Symposium focused on global ESG strategy post-COP26 and the new Science-Based Targets Net Zero Standard. We discussed CEO-driven climate strategies, ESG reporting & governance trends, and goal-setting best practices to reach Net Zero. Andy Smith, Sr.

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ICYMI, Everyone’s in the Firing Line

Chris Hall

Banks were hit by a double salvo for continued financing of fossil fuel firms in the face of widely accepted net zero roadmaps and the commitments made at COP26. None of these funds would claim to have alighted on the perfect path to net zero and the UK continues to provide a country-based case study of non-linear progress.