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For the leaders of the divestment movement, which encourages institutional investors to sell off their shares in fossil fuel companies, winning isn’t everything. But after a decade of determined lobbying, the divest side is suddenly doing a lot of winning. That tally, they noted, is bigger than the combined GDP of the U.S.
Advocates say new regulations that will force banks and insurance companies to disclose climate risks don’t do enough to force financial institutions to address those risks, too. Implementing their suggestions could force Canadian financial institutions to divest their fossil fuel company loans or refuse to insure oil and gas companies.
Nordea’s divestment, along with pressure from other institutions, such as Norwegian pension fund KPL, led to a pledge from JBS to use blockchain to monitor its entire supply chain by 2025, including the problematic "indirect suppliers" that have been linked to illegal deforestation.
UK-based financial services group NatWest has been added to a list of financial companies published by the Texas Comptroller’s office that may be subject to divestment by the state’s pension funds for “boycotting” oil and gas companies. Texas is the largest net energy supplier in the U.S., Energy Information Administration (EIA).
Divestment from fossil fuels is accelerating around the world. Besides dozens of universities (including Harvard and the University of Toronto), the divestment list now includes France’s Banque Postale, the State of New York, and Europe’s largest pension, ABP.
The current list has been updated with data through January 29, 2025. The ranking was first calculated on July 1, 2016, and publicly released on August 15, 2016, by Corporate Knights and As You Sow. The Clean200 companies are ranked by their clean revenues in U.S.
The current list has been updated with data through January 29, 2025. The ranking was first calculated on July 1, 2016, and publicly released on August 15, 2016, by Corporate Knights and As You Sow. The Clean200 companies are ranked by their clean revenues in U.S.
They also beat the global benchmark MSCI ACWI by 30% from July 1, 2016, to January 29, 2025. on a sustainable-revenue-weighted basis, outperforming the MSCI ACWI index (162.0%) and the MSCI ACWI/Energy Index of fossil fuel companies (76.7%) on Total Return Gross USD Basis from the Clean200 inception of July 1, 2016, to January 29, 2025.
For financial institutions such as banks, insurance companies and investment managers, scope 3 emissions from supply chains and lending/investment portfolios are often more complex than for other industries. They can also divest from high-emitting industries such as thermal coal production. trillion USD in fossil fuels.
The fund was previously under pressure to divest from carbon-intensive oil and gas companies but, like other asset owners, CalSTRS is choosing to engage, with divestment serving as a last resort. . Norges Bank Investment Management (NBIM), which manages Norway’s US$1.1 As of 31 May, 2021, CalSTRS manages US$306.7
In addition, Shell had reduced its net carbon intensity across Scopes 1 to 3 by 6-8% by 2023 compared to 2016 levels, though it is targeting a 9-12% reduction by 2024 and a 9-13% by 2025. Oil and gas firms would do well to acknowledge that the energy transition doesn’t just concern climate-focused investors, O’Connor suggested.
But developers who plan to start operating in 2025, including three hydrogen-based steelmaking projects, will need to reach a final investment decision in 2023 to start on time. The World Bank estimates that a carbon price of $50 to $100 per ton of CO2 is required by 2030 to meet the temperature goals of the Paris Agreement.
The Alliance counts French insurer AXA Group, Nordic bank Nordea and UK-based financial services company Legal & General among its membership. The Alliance uses the Intergovernmental Panel on Climate Change (IPCC) 1.5°C “As we head towards at least 2.4°C trillion in AUM.
The Catholic Bishops Conference of the Philippines, whose archbishops are major stockholders in the second biggest financier of coal in the country, declared that it will stop investing in banks that fund “dirty energy”.
Head of Sustainability at CDPQ Bertrand Millot highlights the pension fund’s focus on decarbonising the real economy, as well as comprehensively divesting from the oil industry. It also increased its green assets by 34% during the same period to C$53 billion, putting it within reach of its 2025 target of C$54 billion.
The net zero race The former MP also emphasised the importance of the Global Stocktake , and the development of new nationally determined contributions (NDCs) under the Paris Agreement, which need to be submitted by 2025 with detailed sectoral commitments. We need long-term support to move to an alternative [energy source].”
Norges Bank Investment Management (NBIM), which manages Norway’s US$1.2 trillion sovereign wealth fund, has published its 2022-2025 climate action plan. NBIM’s 2025 climate action plan is the fund’s latest commitment to improving its ESG-related performance. . Raising ambition .
The resources included deep-dive guidelines for seven sectors – including asset owners, asset managers and banks; high-level guidance for 30 sectors of the global economy; and advice on how to undertake a transition planning cycle.
oriented assets to exceed US$41 trillion by 2022 and $50 trillion by 2025 — representing one?third Other states have passed or introduced legislation designed to divest from industries like fossil fuels. ESG states has passed or introduced laws requiring divestment from companies that “boycott” the fossil fuel industry.
In June, the Church of England Pensions Board (CoEPB) and Church Commissioners announced that they will divest from oil and gas firms for failing to align with climate goals. However, individual, specific, and isolated divestments do not make a significant difference due to the abundance of liquidity in the market. trillion, or 6.8%
Taking housing out of the commodity market also reduces reliance on banks and speculators, who often contribute to rising inequality and unsustainable industries, a 2023 study published in the Journal of City Climate Policy and Economy found. Tapestry is launching partnerships with 19 co-ops in 2025. Read the original story here.
As COVID came to dominate 2020, she helped donate more than 600,000 meals and 100,000 pounds of packaging to food banks. While at Tufts University, from which he received a bachelor’s in international relations and economics, Dowd was involved with the school’s fossil fuels divestment campaign and interned in the Obama White House.
Energy stocks lagged in 2024, which benefitedinvestors who have divested from fossil fuels. The anti-ESG movement scores a victory as net-zero financial alliance unravels Seven sustainable finance predictions for 2025 Our taxonomy is different from others, says Michael Yow, director of ratings at Corporate Knights.
Two major European financial institutions are setting higher expectations for climate performance, with German asset manager Union Investment dropping all its holdings in ExxonMobil and Oslo-based pension manager Norges Bank Investment Management establishing tough, new sustainability reporting requirements for the thousands of companies it backs.
Morgan Stanley, along with Bank of America and Citigroup, has agreed to deeper disclosure.) And the mayors of 12 cities — representing 36 million residents — announced their plans to divest from fossil fuels. Morgan Stanley offered its own twist with a promise to reach "net-zero financed emissions" by the critical 2050 timeframe.
Under the Paris Agreement, countries were only obliged to update their goals by 2025. The fossil fuels divestment movement continues to grow and as indicated in a recent report by DivestInvest, 1,500 investment institutions, responsible for $39.2 trillion in assets, have committed to divest. Businesses, banks, and investors.
Texas Attorney General Ken Paxton announced that he has sent a letter to BlackRock, Goldman Sachs, JPMorgan Chase, Bank of America, Citigroup, and Morgan Stanley warning the Wall Street firms of potential legal actions over their diversity and climate investing policies and practices.
Tesla reported a 13% drop in deliveries of new cars in the first quarter of 2025. Last Wednesday, Toronto-based sustainable investment adviser Tim Nash held a webinar to answer the number one question he says hes been getting from his clients: how to divest from Tesla? Tesla ranked 45th on the 2025 G100 ranking. government.
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