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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. Greenwashing is truly a clear and present danger.”. The post Cracks showing in Mark Carney’s net-zero financial alliance appeared first on Corporate Knights.

Net Zero 360
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India Releases Draft Climate Finance Taxonomy to Drive Capital to Net Zero Goals

ESG Today

Indias Ministry of Finance announced the release of a draft framework for its Climate Finance Taxonomy, its classification system for identifying sustainable economic activities aligned with its climate goals, aimed at enabling the facilitation of major capital flows required to support the net zero transition, while preventing greenwashing.

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What’s in your ‘transition fund’? Poor transparency puts investors at risk

Corporate Knights

Michael Sambasivam and Adam Scott Transition funds are an important investment class, as they can help supply some of the trillions needed to achieve net-zero by 2050 or sooner, while offering savvy investors a venue through which to access transition opportunities. Building one will be harder than it sounds.

Net Zero 173
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RBC shareholder resolution confronts greenwashing loopholes in ‘sustainable debt’

Corporate Knights

While linking corporate debt to sustainability targets sounds like a great way of incentivizing companies to make environmental, social and governance (ESG) improvements, a lack of standardized rules has quickly opened the door to greenwashing, with some companies using the funds to continue business as usual with little ESG impact. .

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Over Half of CFOs Fear Greenwashing Risk as Sustainability Data Problems Persist: EY Survey

ESG Today

The top nonfinancial data problems reported by finance leaders include varying data formats, cited by 39%, data inconsistencies (35%), incomplete data (34%) and unclear data definitions (33%). Other challenges included incorrect and out-of-date data, with only 4% reporting not encountering any of these problems.

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A new plan to kick-start the energy transition at Canadian companies

Corporate Knights

The path to a cleaner economy is well-populated by net-zero targets, but credible plans to achieve those goals have remained elusive. Each are required not only to prevent greenwashing, but also to give investors, lenders and insurers the information they need to keep pace as economies evolve with the changing climate.

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UN Expert Group Proposes Rules for Net Zero Commitments

ESG Today

A UN-backed group of sustainability, business, finance and government leaders unveiled a series of recommendations aimed at developing clearer standards for net zero pledges made by businesses and other non-state entities, and avoid the use of the commitments for greenwashing.

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