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Bank financing for fossil fuels dips second year in a row

Corporate Knights

trillion in financing to the fossil fuel industry in the eight years since the Paris Agreement was signed, according to a comprehensive new report. trillion in financing for new fossil fuel expansion projects, investments that put the net-zero goal of the Paris Agreement in jeopardy. In 2023, US$347.5

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At COP28, Influential Investors, Companies, and Policymakers To Call for Greater Global Ambition and Accelerated Action To Limit Temperature Rise and Achieve a Net Zero Economy

3BL Media

Despite historic policy wins—such as the Inflation Reduction Act, which is driving a clean energy investment boom in the U.S.—the Recent sobering reports show that the world is not on track to meet the goals of the Paris Agreement and highlight the steps needed to keep the goals in reach.

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UK to Invest Over $1.2 Billion to Boost Green Industries

ESG Today

The new £960 million investment will be provided through a Green Industries Growth Accelerator to support clean energy supply chains across the UK, with investments focused on areas including offshore wind, electricity networks, nuclear, CCUS and hydrogen.

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Asset Managers “Not Supporting” Climate Policy

Chris Hall

times more equity value in fossil fuel production companies (US$880 billion) than in green investments (US$309 billion). Analysing US$16.4 trillion of the assessed asset managers’ equity fund portfolios, the report found that managers hold 2.8 Japan’s Mitsubishi UFJ’s portfolio was the most misaligned globally.

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All Systems go for Net Zero

Chris Hall

Now they must wait to see how signatories to the Paris Agreement act on the commitments outlined in the official response to the Global Stocktake, as well as multiple other pledges announced across the two weeks before that final text was signed, sealed and gavelled.

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Net Zero Progress by Firms and Governments “Still Too Slow”

Chris Hall

Climate policy response by governments and investment in clean technologies must be accelerated to keep temperature rise near 1.5°C, C, according to industry experts speaking at Morningstar’s ‘ Sustainable Investing Summit 2023 ’. C in the Paris Agreement; with only 3% of global policies currently moving towards the 1.5°C

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Engagement Alone Unable to Resolve Energy Impasse – PME

Chris Hall

Eight years since the Paris Agreement was adopted, the energy transition remains “stuck”, according to Spaargaren. Pension fund makes case for divestment, against backdrop of increasingly positive climate policy across major markets.