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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.
With Budget 2023’s “made-in-Canada plan” released in late March, the federal government has laid out its net-zero industrial policy – a response to the U.S. The made-in-Canada plan seeks to bolster manufacturing at home and secure a place for Canadian firms and products in global supplychains.
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 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.
Deutsche Bank announced the publication of its initial Transition Plan, outlining the bank’s methodologies, targets and achievements on its path to net-zero by 2050, across its own operations and supplychain, as well as financed emissions. This will allow us to continuously refine our own Transition Plan.”
From the ranking leader Hydro-Qubecs $155-billion green-energy expansion plan, to 12th-place Bpifrance banks financing solar and wind power loans, the inaugural list shows how investments in renewable energy pay off. before 2050, and 75% of the citys net-zero strategy relies on these investments. That now includes 7.6
First deal closes with Longroad Energy; new product will be key to meeting bank’s environmental goals, serving growing customer needs. Bank has made.”. Bank to deepen our relationships with new and existing customers,” said Bill Gallagher, director of environmental project finance lending for USBCDC. Bank has made.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements SBTi Pushes Back Timeline for New Corporate NetZero Standard Microsoft Sources Renewable Energy from New U.S. Board Directors Prefer Executives Stay Quiet on Social Issues: Report
This week in ESG news: Canada to require oil & gas industry to slash emissions; California’s climate reporting law survives legal challenge; Mizuho invests in climate solutions provider Pollination; new clean energy deals signed by H&M, Meta, Saint-Gobain; incoming EU finance Commissioner calls for sustainable investment labels, reduced SFDR (..)
Million Carbon Removal Startup Founded by 16-Year Old Raises $3.5 Million for Solution to Produce Low Cost Sustainable Aviation Fuel Exec Moves South Pole Appoints Dara Olufon as Co-Head of its Global Climate Advisory Business
Helle Bank Jorgensen. Companies and countries all over the world are committing to net-zero goals and pledges to the SDGs; diversity, equity and inclusion goals; human rights — the list goes on. We need to put a lot of zeros on the "More than 1,000 businesses" in order to get to a net-zero carbon economy.
The financial services firm recently completed the purchase of the first tranche of reef credits and plans to continue buying them as part of its net-zero commitment. These nature-based solutions are going to become increasingly important," said Hamish Kelly, managing director of global banking, Australia at HSBC. "We
Coca-Cola Europacific Partners (CCEP), the world’s largest Coca-Cola bottler, announced the launch of a new sustainability-linked supplychain finance program, rewarding suppliers for improving their ESG performance, in collaboration with Netherlands-based Rabobank.
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.
The world’s biggest meat-packers have announced net-zero targets, as the industry tries to reassure the public that despite the urgency of the climate emergency, there’s no need to cut back on our burgers and steaks. And Tyson isn’t the only one banking on planet-friendly meat to keep consumers coming back to the butcher.
With ESG gaining more attention and more companies committing to reaching net-zero emissions in the coming decades or otherwise pledging to do better by people and the planet, it’s inevitable that the next generation of professionals in the field will define the future of sustainable finance. “The Deonna Anderson. Mecca Luster.
Although we’ve promised to introduce a cap on energy sector emissions, this cap will not address Scope 3 emissions (those up and down a company’s supplychain), which account for around 88% of total emissions from the oil and gas industry.
The Ontario Teachers’ Pension Plan (OTPP) has a gas problem, and its net-zero plan doesn’t pass the smell test. . the production of fossil gas must rapidly decrease and the entire gas supplychain must be transformed. In many cases, the OTPP outright owns entire fossil gas companies and utilities.
Highlighting significant sustainability-related growth opportunities, Deutsche Bank unveiled an estimate today that its revenues from ESG business will grow to approximately €1.4 Despite pulling forward the €200 billion goal by three years, from the initial target announced in 2020, the bank said it exceeded the 2022 ambition by €15 billion.
These insights empower investors to align their portfolios with their individually stated netzero goals and capitalize on opportunities presented by the transition to a low-carbon economy. How could transition scenarios, like BNEF’s New Energy Outlook (NEO), affect company revenues?
The research report, “ Smaller businesses and the transition to netzero “, highlights the potential collective influence of UK smaller businesses and the considerable contribution they could make to wider netzero objectives if they all made changes to reduce their carbon footprint.
Living Buildings strive for net-zero or net-positive energy and are free of toxic chemicals. . International SupplyChain Education Alliance Certified SupplyChain Analyst. The World Bank City Climate Planner (CCP) Certificate Program.
For financial institutions such as banks, insurance companies and investment managers, scope 3 emissions from supplychains and lending/investment portfolios are often more complex than for other industries. trillion USD in fossil fuels. However, greater action is required to fully realise this.
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. Because we're Scope 3, it's got to be across your whole supplychain. Photo courtesy of PepsiCo. And it's flight by flight.
A new briefing from think tank organisation the Energy Transitions Commission (ETC) argues that the clean energy transition can be delivered on time and at an affordable cost if supplychain risks are minimised by policy and industry action. The energy transition is fundamentally achievable if supplychain risks are managed.
Funds marketed as environmentally friendly are being used by major asset managers to funnel millions of dollars to the world’s largest meatpacker, JBS, a company notorious for its links to deforestation and human rights abuses via its supplychain. JBS is widely regarded as an ESG pariah.
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 billion, according to data from the Rainforest Action Network, despite signing on to the UN’s Net-ZeroBanking Alliance. Canada came in sixth.
COP28 may have not delivered all it promised, but investors now have a clearer idea of how the path to netzero will impact their portfolios. The first-ever mention of “transitioning away from fossil fuels” in COP final text was regarded as a major milestone on the path to netzero, even by those who acknowledged its multiple caveats.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Lenovo Commits to NetZero Emissions Across the Value Chain by 2050 Danone Launches Plan to Address Methane Emissions From Dairy SupplyChain Pfizer to Offer Full Portfolio of Medicines to 1.2
The Revolving Credit Facility (RCF) was refinanced by Lloyds Bank to support the luxury fashion brand into accelerating emissions reductions by 46 per cent across its extended supplychain (Scope 3) by 2030. KEYWORDS: ACRE, Liam Goldsworthy, Burberry, Lloyds Bank, Julie Brown.
The UK has recently been accused of watering down its netzero ambitions, with a report from the Climate Change Committee suggesting that the UK is on course to miss meeting the pledges it made at COP28. The post NetZero is Bringing Business Back to Britain appeared first on ESG Investor.
Wu joins the firm after 15 years at Bloomberg New Energy Finance, where he most recently served as Head of Asia Pacific, working with governments, finance, energy and technology companies on business strategies for a netzero world. HSBC set a target in 2020 to align its financed emissions to netzero by 2050.
All 10 of these companies have set a Net-Zero target and we also found that these leaders are outpacing the remainder of the Russell 1000: Nearly all have a verified 1.5-degree degree Science-Based Target , to reach Net-Zero emissions within its operations by 2030. degree Science-Based Target.
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.
New research published by UK100, a group of mayors and local government leaders in late September appears to show that a “retrofit army” of nearly half a million builders, electricians and plumbers will be needed to meet the Government’s objective of becoming NetZero by 2050. 100 billion green investment.
Tan Su Shan, Group Head of Institutional Banking at DBS, said: “Accelerating netzero for supplychains requires the rapid scaling of low-carbon technologies and new, innovative financing models to drive adoption. The collaborative finance tool is a prime example of how we can create impact for suppliers.
Natural language processing analysis of publicly available earnings call transcripts and conference presentations tells us that ESG is one of the hottest topics in corporate boardrooms—alongside input-cost inflation, supplychain problems and labor shortages. Location: London. Location: New York.
Sharm El Sheikh sees progress on accountability and transparency of netzero 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 netzero. .
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.
HPE has committed to multiple ambitious climate goals, including achieving NetZero across its entire value chain by 2040, a 70% reduction in Scope 1 & 2 emissions from 2020-2030, and a 42% reduction in Scope 3 emissions from 2020-230. degree Science Based NetZero Target.
And in order to encourage the approach beyond its supplychain, Danone recently founded the One Planet Business for Biodiversity (OP2B) initiative, a cross-sector effort to improve the private sector's approach to biodiversity. The strained food production system is begging for reform, argued Soubeiran.
New guidance on portfolio alignment metrics by the Glasgow Financial Alliance for NetZero (GFANZ) has received a mixed response with some seeing it as a foundation for further efforts, while others have warned it may serve to dilute institutions’ focus on heavy emitters. . Banking on change . C of global warming by 2050. .
This week in ESG news: Australia passes mandatory climate reporting law; Google signs carbon removal deal at landmark $100/ton price; Bain survey finds CEOs losing focus on sustainability as it becomes more important to consumers and corporate buyers; SEC fines Keurig over coffee pod recycling claims; Oracle launches sustainability data and reporting (..)
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