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Advocates urge regulation of banks’ climate commitments to avoid greenwashing

Corporate Knights

A coalition of environmental groups is calling on the federal government to regulate climate commitments made by banks and other financial institutions to avoid greenwashing and accelerate change. .

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New UN panel looks to hold companies, governments accountable for net-zero pledges

Corporate Knights

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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If done well, financial regulations play a crucial role in cutting carbon emissions

Corporate Knights

This cannot continue if we are realistically going to achieve the goals of the Paris Agreement and keep global warming below 1.5 ° C. The new OSFI guideline will require banks and insurance companies to disclose the financial risks they face in a world hit by climate change impacts and shifting toward a low-carbon future.

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Net Zero Scrutiny Intensifies at COP27 

Chris Hall

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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Finance Sector Net Zero Plans Must Respect Planetary Limits – SBTi

Chris Hall

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. Addressing greenwashing.

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ICYMI, the Path to Net Zero is Getting Steeper

Chris Hall

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. It wasn’t just investors who were given some sharp reminders this week about why they should “ worry about climate risk ”.

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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.

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