Remove Banking Remove COP26 Remove Net Zero Remove Sustainable Investment
article thumbnail

Cracks showing in Mark Carney’s net-zero financial alliance

Corporate Knights

Mark Carney’s US$130-trillion Glasgow Financial Alliance for Net Zero (GFANZ) has lost two pension funds and a consulting company in recent weeks, and some large U.S. and Canadian banks are threatening to withdraw because of new membership criteria requiring a fossil fuel phase-down. Former U.S.

Net Zero 359
article thumbnail

Divesting works: Study finds ditching fossil stocks lowers corporate footprints

Corporate Knights

Just before the launch of COP26, the UN climate conference in November, the DivestInvest network calculated that endowments, portfolios and pension funds worth nearly US$40 trillion have now committed to divesting their fossil fuel holdings. Eroding public support for the sector has been considered valuable work in itself.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Regulator Bans HSBC Ads Highlighting Green Activities as Misleading

ESG Today

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.

Net Zero 117
article thumbnail

AB: Are Carbon Offsets the Next ESG Investing Frontier?

3BL Media

DESCRIPTION: By Sara Rosner | Director, Environmental Research and Engagement—Responsible Investment and Satyajit Bose | Associate Director—Program in Sustainability Management at Columbia University. In fact, volunteer market offset activity hit US$1 trillion for the first time in 2021, according to the World Bank.

article thumbnail

Investment Firm Ramps up Clients' Sustainability Efforts

3BL Media

Holding the companies accountable on their commitments to net zero targets will help ensure the implementation of net zero strategies, through financial institution engagement, including a decline of coal, oil and gas within portfolios. Georgina has joined Acre’s Sustainable Finance and Impact Investing practice.

Net Zero 130
article thumbnail

Let the Climate Finance Flow

Chris Hall

At COP26, the Glasgow Financial Alliance for Net Zero ( GFANZ ) declared a sector-wide commitment of US$130 trillion – a number that has increased over the year to US$150 trillion – of private capital to transition the global economy to net-zero greenhouse gas emissions. There are choices,” said Cabanis.

article thumbnail

UK Must “Harness the Power” of its Green Taxonomy – GTAG

Chris Hall

Further, the UK’s Financial Conduct Authority (FCA) has delayed the publication of the Sustainability Disclosure Requirements (SDR) policy statement from Q3 to Q4 of this year, with the resulting implementation of its labelling scheme, product naming and marketing rules now expected H2 2024.Levick

Banking 59