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The announcement by UBS marks the latest in a series of moves by banks globally to withdraw or pull back on climate commitments, although UBS changes appear less drastic than those by some of its peers.
The path to a cleaner economy is well-populated by net-zero targets, but credible plans to achieve those goals have remained elusive. During his election campaign, Prime Minister Mark Carney promised that his government would finalize and implement the guidelines by fall 2026.
Oesterreichische Kontrollbank AG Sustainable development bank Oesterreichische Kontrollbank (OeKB) or Austrian Control Bank is a special-purpose financial institution owned by Austrias main banks. Reaching net-zero as we grow remains vital. Go-Ahead Group Ltd Net-zero-aligned transporter Go-Ahead is a U.K.-based
The appointment follows a tumultuous year for the SBTi, which saw its prior CEO resign following a controversial plan by the organization to allow the use of carbon credits in corporate netzero plans. The SBTis new Corporate Net-Zero Standard is still in development, with plans to bring it into effect in 2026.
RELATED Canadian investors stand firm on ESG despite greenhushing trend, report finds The anti-DEI movement confronts an unlikely opponent: big banks Meet the four most sustainable funds on the market for 2025 Deadlines to submit reports starting in 2026 will be pushed back to 2028.
SSE Renewables and joint venture partner Equinor have reached financial close on Dogger Bank C, the third phase of the offshore wind farm based in the UK. The total investment in Dogger Bank Wind Farm will be approximately £9 billion ($12 billion), with around £3 billion ($4 billion) allocated for phase C including offshore transmission.
C rise between now and 2026. Seven years ago, the probability of this happening was close to zero. “A Some of Canada’s largest banks, including the Royal Bank of Canada and Toronto-Dominion Bank, more than doubled their financing of the oil sands in 2021 to $16.8 A single year of exceedance above 1.5°C
Signals of change in the netzero transition this week include a major industrial decarbonization project in Germany and carbon-capturing tequila in Mexico. CLG UK has shared a new policy brief setting out seven key areas the country must prioritize in the netzero transition.
The number of companies proclaiming their intent to go net-zero by 2050 has expanded exponentially in the past 12 months, but the ones short-cutting that commitment by a decade are a rarer breed. The extension will see $6 million more invested through 2026, initially in the Dominican Republic, Ecuador and Guatemala.
Amsterdam-based global bank ING announced today that it has developed a new tool, ESG.X, that is being used by the bank to assess the climate transition of its clients, and has stated that it will soon begin applying stricter conditions on companies that are not making progress, including potentially ending financing for them.
Signals of change in the netzero transition this week include the passing of key climate legislation in Australia and the EU. NetZero Economy EU legislators reached an agreement on new climate legislation this week to double the share of renewables in the bloc’s electricity mix by 2030.
UK-based bank Barclays will no longer directly finance new oil and gas projects, and will require its energy sector clients to produce transition plans or decarbonization strategies by the beginning of next year, according to a new “Climate Change Statement” released by the bank.
Amsterdam-based global bank ING announced on Thursday a series of updates to its policy for energy financing, including an immediate end to all new general financing – including corporate financing and bonds – to pure-play upstream oil and gas companies that continue to open new oil and gas fields.
Deutsche Bank Ties Senior Exec Compensation to Loan Book Decarbonization Goals Private Equity & Venture Capital Carbon Accounting and Management Startup Greenly Raises $52 Million Fullerton Fund Management Raises $100 Million for Decarbonization Opportunities-Focused Private Equity Fund KKR Acquires Majority Stake in U.S.
Save Tomorrow’ campaign, co-chaired by the Barbados Prime Minister Mia Mottley, calls for the World Bank and wealthy countries to speed up pledges to mobilize climate finance ahead of a conference on the topic hosted by France in June. The new seven-year supply agreement with Bilstein is set to begin deliveries in 2026.
Chris Skidmore, former MP and author of the netzero review, talks about what the next UK government should do to get the country’s netzero commitments back on track. “I cannot vote for the [Offshore Petroleum Licensing] bill next week. In May, a High Court ruling ordered it publish a revised netzero strategy.
The Business Development Bank of Canada (BDC) announced today the launch of a new $400 million fund, aimed at investing in and supporting Canadian climate teach and cleantech firms.
But January has already seen ING sued for breaching its duty of care by financing major GHG emitters, which could lead the bank to reduce its CO2 emissions by 48% by 2030. Banking on transition – Banks’ role in the netzero transition was in the headlines this week, for a number of reasons.
Other indicators are still under consideration by ASCOR, including the question of whether a country’s netzero target is enshrined in national climate law. Last year, sovereign bonds represented almost 40% of the US$100 trillion global bond market, according to the World Bank.
For example, the European Central Bank (ECB) plans to further incorporate climate change considerations into its monetary policy framework. The central bank plans to transition the Eurosystem’s nearly €350 billion corporate bond portfolio towards issuers that demonstrate more favorable climate performance.
Transition” refers to activities that do not meet the green thresholds now but are on a pathway to netzero or contributing to netzero outcomes. The program will enable investors to back public projects that drive Australia’s netzero transformation and support environmental objectives. degree celsius (1.5°C)
Last week, MEPs voted against a proposal to increase the ambition of the EU Emissions Trading System (ETS) to a 63% reduction in CO2 emissions from covered industries by 2030 (compared to 2005 levels), removing 70 million carbon credits from the market in 2024 and 50 million in 2026. C pathway. . Knock-on impacts .
Many large companies announced ambitious netzero targets and the contribution they will make to becoming a netzero economy. And innovative companies committed to transitioning to netzero may not get the capital they need to achieve their plans. However, there is reason for optimism.
The Transition Plan Taskforce’s (TPT) finalised disclosure framework aims to “remove friction” for preparers of climate transition plans by aligning with the work of the International Sustainability Standards Board (ISSB) and Glasgow Financial Alliance for NetZero (GFANZ). The first reporting would begin from 2026.
Events this week reflected the complex nature of the netzero journeys facing companies, industries and governments. The firm claims it is on track to using more than 50% certified renewable resin by 2026, on the path to being fossil fuel-free by 2032. Funding China’s transition – A 2.5
Last year, Volkswagen similarly announced delays to its EV ambitions, with its flagship EV project Trinity being pushed back from 2026 to 2030 and putting plans for a new European battery plant on hold. It is working to address these systemic environmental and social risks and ensure a just transition to netzero.
A new threshold will be established in 2026. Ideally, we’d love it to be net-zero energy.”. Sadowski’s vision for a local green bank would provide low-cost loans to building owners. Building owners may choose any technology they like. It’s taking the energy data and ratcheting up your performance. Unlike in St.
Alison Taylor, CEO of CAF Bank and Charity Services, Charities Aid Foundation, said: “As a charity ourselves, we’re driven to develop products and services for charitable organisations that reflect the dynamics of the world we are in. The charity aims to grow its impact allocation to £100 million by the end of 2026. “As
The ICVCM is responsible for developing guidance on the supply side of carbon credit generation, while Voluntary Carbon Markets Integrity initiative is introducing demand-side rules for entities using carbon credits as part of their decarbonisation strategies and netzero pledges.
It has dedicated a C$2 billion envelope to sustainable land management in forest and agricultural land sectors by 2026. The NetZero Asset Owner Alliance , which CDPQ co-founded with Allianz, and the Sustainable Markets Initiative, is another good example.
Amin says: “There are a lot of opportunities for many African countries to grow their economies socially, economically, in a way that is consistent with netzero targets. The conversation needs to go beyond the COP context and start looking at what the IMF and World Bank are doing.”. billion over the next decade.
The first plan for the region’s natural environment has been officially launched on the banks of the River Stour. The West Midlands Natural Environment Plan follows this year’s #WM2041 Five Year Plan, which sets out how to keep the region on track for reaching netzero by 2041.
Governments worldwide have begun adopting policies and regulations to fund the transition to netzero economies and address climate-related risks. Banks and insurers are altering their businesses to address better climate change-related liability risk in their lending and underwriting decisions.
The world’s netzero future depends on introducing and upscaling clean technologies to neutralise and/or replace the hardest-to-abate CO2 emissions produced by carbon-intensive industries. achieve netzero by 2050. It’s scheduled to go live in 2026. Early adopters include firms with the steepest netzero pathways.
Microsoft has consistently been a leader in ambitious environmental goals with a commitment to carbon neutrality by 2030 and netzero by 2050 (removing from the environment all carbon the company has emitted either directly or by electrical consumption since it was founded in 1975).
“The release of this framework on nature-related target setting is a significant step, offering practical direction for financial institutions to initiate transitions toward a nature-positive future.” Asset managers and owners are advised to establish initiation targets by 2026 and sectoral, engagement, and portfolio targets by 2030 or earlier. (..)
“It’s an industry you can’t put on the internet; we will need shipping in the years to come, which means we have to ensure it is sustainable in the long term,” says Stephen Fewster, Global Head of Shipping Finance at Amsterdam-headquartered ING Bank. .
In the race to netzero, Victoria Judd, Counsel at Pillsbury Winthrop Shaw Pittman, explains how the US is lapping the UK and EU in stimulating its green economy. Another point of distinction between US and EU approaches is the level of corporate support for energy efficient projects.
According to a World Bank report , 68 existing carbon pricing regimes – covering 25% of GHG emissions – raised record revenues of US$84 billion last year, exacting record prices from polluters. How extensive is carbon pricing and why is it important to asset owners? But this didn’t stop last year also being a record for emissions levels.
But energy investment would need to double this decade to more than US$190 billion each year from 2026 to 2030 (equivalent to 6.1% Multilateral Development Banks (MDBs) and DFIs are already heavily engaged in Africa’s green energy transition through a multiplicity of initiatives. . of GDP), with two ?
Under the reforms, the baselines for designated large facilities will decline on a trajectory aligned with achieving Australia’s updated emission reduction targets of 43% below 2005 levels by 2030 and netzero by 2050. This decline rate is set at 4.9%
A key part of ensuring the world reaches netzero by 2050 is investing in electric utilities’ transition from fossil fuel-based power generation and the integration of renewable energy sources into national grids. The post Storage Suppliers Lead the Charge to NetZero appeared first on ESG Investor.
The projects are expected to become operational in the fourth quarter of 2026. Additional participants in Duke Energy’s GSA program include the City of Charlotte, the City of Durham, Bank of America, Durham County, Duke University and Durham Public Schools. “As
The World Bank and other domestic and international energy experts maintain that wide-ranging reforms will be necessary to make up for fiscal shortfalls and finance climate action. Although Colombia represents only 0.6%
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