How banks can accelerate net-zero emissions commitments
GreenBiz
OCTOBER 27, 2021
On the eve of COP26, large banks have yet so shift fundamentally towards the Paris Agreement.
Banking COP26 Net Zero Paris Agreement 
HSBC is latest bank to pledge net-zero financed emissions by mid-century
GreenBiz
OCTOBER 13, 2020
HSBC is latest bank to pledge net-zero financed emissions by mid-century. HSBC has become the latest bank to commit to achieving net-zero financed emissions, announcing Monday that it intends to align its portfolio of investments and debt financing with global climate targets by mid-century. Cecilia Keating.
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New UN panel looks to hold companies, governments accountable for net-zero pledges
Corporate Knights
JULY 4, 2022
Net-zero pledges have become commonplace among corporations, financial institutions and cities, but questions abound as to whether those companies and governments have real plans in place to achieve them. In many cases, corporations or local governments don’t yet know how they will achieve net-zero status by 2050.
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Fossil fuel expansion will be the litmus test for banks’ net-zero promises
Corporate Knights
JANUARY 21, 2022
Civil society organizations are gearing up to hold financial industry players accountable on the lofty commitments they made at COP26 in November. The alliance, led by former Bank of England governor Mark Carney, comprises separate agreements for various financial sectors. Royal Bank of Canada and Toronto-Dominion Bank.
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Finance Sector Net Zero Plans Must Respect Planetary Limits – SBTi
Chris Hall
APRIL 12, 2022
The Science-Based Targets Initiative (SBTi) has set out four guiding principles for financial institutions (FIs) to follow to ensure their net zero strategies are consistent with action required to meet “planetary level” emissions targets, in keeping with wider sustainability and societal climate goals. C above pre-industrial levels.
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Net Zero Scrutiny Intensifies at COP27
Chris Hall
NOVEMBER 9, 2022
Sharm El Sheikh sees progress on accountability and transparency of net zero pledges, but many admit need for regulatory intervention. . New mechanisms for keeping private sector climate promises have taken big steps forward at COP27 this week, while major banks provided limited visibility on their path to net zero. .
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ICYMI, the Path to Net Zero is Getting Steeper
Chris Hall
JUNE 17, 2022
Climate negotiators, Wall Street executives and pretty much anyone involved in efforts to decarbonise the planet were left in little doubt that the path to net zero means constant improvement and rigorous scrutiny. The post ICYMI, the Path to Net Zero is Getting Steeper appeared first on ESG Investor.
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Banks’ Oil & Gas Financing Faces Scrutiny at AGMs
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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Analyzing Carbon Offset Markets’ role in our journey to a net-zero world
Carlos Sanchez
NOVEMBER 24, 2021
While some recognise carbon offsets markets as key for us to achieve net-zero emissions world by 2050 by funnelling cash into cost-effective projects, others believe credits are a dangerous distraction that allows polluters to pay their way out of the problem. Introduction. 1 – 1.5ºC emission pathway (Source McKinsey & Co).
Regulator Bans HSBC Ads Highlighting Green Activities as Misleading
ESG Today
OCTOBER 19, 2022
The ruling referred to ads displayed in bus stops in London and Bristol in October 2021, in the run-up to the COP26 climate conference, promoting HSBC’s initiatives to provide up to $1 trillion in finance and investment to help clients transition to net zero, and to help plant 2 million trees.
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Commodity AND Security
Chris Hall
JULY 15, 2022
When global leaders gathered at COP26 last year, governments pledged ambitious 2030 emissions reduction targets to achieve net zero by 2050. An ideological shift demanded that addressing the impact of climate change be a holistic global effort across both the public and private sectors as codified by Article 6 of the agreement.
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UN Ramps up Pressure on Financial Institutions
Chris Hall
JUNE 22, 2022
The United Nations has intensified scrutiny of financial institutions, with its Race to Zero (RTZ) campaign issuing tougher criteria and Secretary General Antonio Guterres saying fossil fuel companies and those that finance them “have humanity by the throat.” . The picture is mixed across the industry and within sectors.
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Take Five: In the End, a “Beginning”
Chris Hall
DECEMBER 15, 2023
For the record, the final text called on parties to contribute to “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner, accelerating action in this critical decade, so as to achieve net zero by 2050 in keeping with the science”.
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Investment Firm Ramps up Clients' Sustainability Efforts
3BL Media
MARCH 1, 2022
The investment firm has spent more than two decades helping companies adopt climate-friendly business models which will continue this year with a focus on the phase-out of unabated coal generation by 2030 for developed markets and 2050 for developing markets, in order to achieve the goals, set out in the Paris Agreement.
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6 Key Tasks at COP27
Chris Hall
OCTOBER 14, 2022
At the closing of COP26 in Glasgow in 2021, one of the headline questions centered on how countries would address the need for finance to address loss and damage , those impacts from climate change that are so severe communities are simply unable to adapt to them. Finance must scale significantly to support adaptation needs. degrees C.
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Take Five: A Missed Opportunity?
Chris Hall
OCTOBER 14, 2022
But despite congregating on the margins of the 2022 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group, the Coalition of Finance Ministers for Climate Action did not appear to discuss the need for more urgent action on climate mitigation and adaptation from multilateral development banks (MDBs).
Carbon pricing currently too low for a just transition to net-zero, says climate advisory group
Envirotec Magazine
SEPTEMBER 30, 2021
Coal-fired power plants in Ulaanbaatar, Mongolia (image credit: Asian Development Bank , CC BY-NC-ND 2.0 ” The document from the Climate Crisis Advisory Group (CCAG)[1] sets out seven recommendations that it believes global leaders at COP26 must consider to make carbon pricing more effective. license ).
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FABLE Consortium co-leads "Transforming food systems" chapter of the 2022 Emissions Gap Report
Sustainable Development Network
OCTOBER 28, 2022
C by the end of this century Updated pledges since COP26 in Glasgow take less than one per cent off projected 2030 greenhouse gas emissions; 45 per cent is needed for limiting global warming to 1.5°C This lack of progress leaves the world hurtling towards a temperature rise far above the Paris Agreement goal of well below 2°C, preferably 1.5°C.
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Carbon Credits Have Role to Play in Corporates’ Climate Transition
Chris Hall
MARCH 3, 2022
The main critique of net zero commitments is that companies are delaying action and relying too heavily on offsetting with carbon credits to reduce emissions,” according to a new Ceres report , which advises investors, lenders and companies on the appropriate use of carbon credits in climate commitments.
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A Very African Climate Conversation
Chris Hall
OCTOBER 28, 2022
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 net zero targets. The conversation needs to go beyond the COP context and start looking at what the IMF and World Bank are doing.”. Increasing concern.
Take Five: Transformation, not Reform
Chris Hall
JUNE 23, 2023
A selection of this week’s major stories impacting ESG investors, in five easy pieces. This week, world leaders attempted to update the post-war global financial architecture to better support the goals of the Paris Agreement and the UN Sustainable Development Goals.
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COP28 UAE Key Takeaways
3BL Media
JANUARY 11, 2024
The fund will be hosted in the World Bank and pledges of around $730million has been secured in Dubai. Global Stocktake COP28 witnessed the first-ever “global stocktake” under the Paris Agreement, and for the first time in a COP history there was a decision that explicitly calls for “transitioning away from fossil fuels”.
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Taking the Heat Out of COP27
Chris Hall
NOVEMBER 23, 2022
According to the International Energy Agency (IEA), US$4 trillion needs to be invested in renewable energy globally every year by 2030 to achieve net zero by 2050. South Africa signed a JETP at COP26 in Glasgow, which committed France, Germany, the UK, the EU and the US to supporting its clean energy transition through US$8.5
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Starting to Adapt
Chris Hall
DECEMBER 13, 2023
Climate adaptation finance is also important for risk management of net zero assets, according to the UK’s Green Finance Institute. World Bank President Ajay Banga announced a commitment to devote 45% of its annual finance to climate by 2025. Developed countries have also been asked to prepare a report on doubling by COP29.
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Take Five: A “Starting Point” for Sustainability Reporting
Chris Hall
JUNE 30, 2023
Much of its £14 billion debt pile was built up under the ownership of Australian bank Macquarie, but its current investors – including Canada’s OMERS and the UK’s USS – have not seen a dividend since buying into the company in 2017. They’ve also agreed to fund an eight-year transformation programme to the tune of £1.5
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COP27: Adaptation on the Agenda
Chris Hall
OCTOBER 5, 2022
As part of the Paris Agreement, developed countries were urged to make good on prior promises to scale-up their support for climate action in developing countries to US$100 billion per year by 2020. The cost of achieving net zero alone by 2050 is huge. Commitments, however, have not translated into reality.
ESG Explainer: China’s Climate Challenge
Chris Hall
FEBRUARY 9, 2022
Deirdre Cooper, Co-Head of Thematic Equities and Co-Portfolio Manager of the Global Environment Fund at global asset manager Ninety One, says the world’s ability to meet net zero targets will depend on countries such as China and India. What are China’s stated net zero goals? GW of new plants (a net 29.8
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Investing in Climate Justice
Stanford Social Innovation
OCTOBER 31, 2022
The number of countries and companies that have made commitments to transition their activities to net-zero emissions has increased dramatically. Yet the goal of the 2015 Paris Agreement is to limit long-term temperature increases to well below 2 degrees—preferably 1.5 But it isn’t enough.
Lessons Learned from COP27: Why Scientists and Engineers Need a Seat at the Table
Sustainable Development Network
DECEMBER 12, 2022
Instead of dwelling on the uncertainties however, the focus should be shifted to both the challenge and solution – transitioning to global net-zero energy systems. This must be done while also linking these technical solutions with policies that support a just and affordable energy transition that leaves no one behind. ”[3]
Filling Canada’s Policy Void
Chris Hall
OCTOBER 14, 2022
This March, Canadian Prime Minister Justin Trudeau told a sustainable business forum in Vancouver “things have changed” since the country signed up to the Paris Agreement on climate change. Examples include Bank of Canada and Canada Pension Plan Investment Board.
Preparing for COP26
Envirotec Magazine
JULY 6, 2021
This had been central to the climate accords since 2009, and is widely viewed as an indispensable ingredient for securing the mutual trust and cooperation of the 191 countries that signed the Paris agreement. One solution might be carbon pricing, and the imposition of such a measure was Bordini-Staden’s “biggest hope” for COP26.
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Take Five: Fewer Fans for GFANZ
Chris Hall
SEPTEMBER 23, 2022
The future of his Glasgow Financial Alliance for Net Zero was in question after media reports that major US banks were threatening to quit rather than accept legal risks that might arise from tougher membership rules. No denying it – Not everyone in New York was pulling in the same direction.
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More Relief than Regret as Montreal Fails to Make it Mandatory
Chris Hall
DECEMBER 21, 2022
The GBF’s Goal D, on implementation, contained an unambiguous commitment to aligning public and private financial flows to its overall objectives, with supporting language in the enabling targets, analogous to the Paris Agreement clauses that put climate change on the global agenda in 2015. “We Beyond climate.
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ESG Explainer: Managing the Methane Menace
Chris Hall
JUNE 1, 2022
Six months on from COP26’s Global Methane Pledge, the quick wins needed to achieve 2030 targets pose steep challenges. At COP26, 112 countries signed the Global Methane Pledge , an initiative designed to reduce global methane emissions by at least 30% by 2030. Delivering on the pledge could reduce warming by at least 0.2?C
What is COP26? Here’s how global climate negotiations work and what’s expected from the Glasgow summit
Renewable Energy World
OCTOBER 26, 2021
Here’s what’s happening behind closed doors and why people are concerned that COP26 might not meet its goals. What is COP26? That agreement set the goal of limiting global warming to “well below” 2 degrees Celsius (3.6 COP26 stands for the 26th Conference of Parties to the UNFCCC. What happens at COP26?
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Progress at last on climate finance at COP27
Corporate Knights
NOVEMBER 16, 2022
I spent a large part of my career working on international finance at the World Bank and the United Nations and now advise public development and private funds and teach climate diplomacy focusing on finance. Getting to net-zero – without greenwashing. Getting to net-zero – without greenwashing.
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Take Five: Adapting to Reality
Chris Hall
NOVEMBER 4, 2022
The UK has delivered its account of the progress made under its COP26 presidency, but with only 26 countries having made good on the Glasgow commitment to resubmit nationally determined contributions before arriving in Sharm El Sheikh, evidence is inconclusive.
ESG Explainer: Electrifying Africa
Chris Hall
JULY 20, 2022
report acknowledged that the Paris Agreement and the UN Sustainable Development Goals (SDGs) can only be achieved via collaboration between developed and emerging market stakeholders, across governments, investors, multilateral organisations and local communities. . In April, a Principles for Responsible Investment (PRI) ?
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ESG Explainer: Can Climate Clubs Cut Carbon Emissions?
Chris Hall
JULY 6, 2022
A brief statement committed the world’s leading democratic economies to forming a ‘climate club’, to “support the effective implementation of the Paris Agreement by accelerating climate action and increasing ambition”. Membership is open to all countries committed to the full implementation of the Paris Agreement. “We
COP26 Live Blog: All in for 1.5ºC
We Mean Business Coalition
NOVEMBER 12, 2021
SATURDAY 13 NOVEMBER – This statement is the We Mean Business Coalition response to the Glasgow Climate Pact, agreed at COP26. . C and implement the Paris Agreement and will be welcomed by the business community. C temperature goal of the Paris Agreement alive, and to ensure a just transition. .
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Despite the Headlines, 2021 Was A Year Full of Environmental Victories
Richard Matthews
JANUARY 4, 2022
The letter also seeks a net-zero electricity grid by 2035, a 50 percent target for electric vehicle sales by 2030, and a renewed commitment to international climate finance. The final agreement requests parties to come to COP27 next year in Egypt with updated plans on how to slash greenhouse gas emissions by 2030.
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