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Hong Kong Launches Taxonomy to Classify Green Activities and Investments

ESG Today

The launch marks the latest in a series of initiatives across jurisdictions to set up a classification system for the definition of sustainable economic activities, including taxonomy systems already established or in development in the EU , UK and Australia. Click here to access the Hong Kong Taxonomy.

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All That Glitters Is Not Green

Chris Hall

Regulation will never be sufficient to protect investors from greenwashing, says Alexandra Mihailescu Cichon, EVP at RepRisk. While this is to be encouraged as a step toward the transition to a more sustainable future, focused around lower-carbon economies, this same pressure has also led to an uptick in greenwashing.

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At long last, Canada restricts oil and gas subsidies (except for all the loopholes)

Corporate Knights

The new guidelines detail the process and definitions behind the oil and gas subsidy phaseout. The definition covers initiatives that support fossil fuel consumption or activities, and funding that disproportionately benefits the fossil fuel sector.

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Banks Must Radically Change Climate Perspective

Chris Hall

Golden ratio Meanwhile, North American banks are under mounting pressure from US shareholders to transition away from financing fossil fuels.

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What is the Science-Based Targets initiative (SBTi)?

Sphera

C - 2° C compared to the pre-industrial era, to prevent the damaging effects of climate change. Science-based targets show businesses how much and how quickly they need to reduce their GHG emissions to limit/counteract climate change. C to avoid the catastrophic impacts of climate change.

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How Institutional Investors Can Be Involved in Climate Actions

Chris Hall

As the urgency to address climate change intensifies, institutional investors have a crucial role to play in driving sustainable practices and advancing climate actions. This resulted in concerns over greenwashing accusations and uncertainty surrounding the interpretation of sustainable investments.

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Permissive Protocol may not Accelerate Insurers’ Net Zero Pathway

Chris Hall

Net Zero Insurance Alliance plan leaves door open to greenwashing, claim campaigners. But there are concerns the flexibility handed to members and other insurers will not change the sector’s current slow pace of decarbonisation. The protocol is a microcosm of the challenges facing the industry.