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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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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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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 162
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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 Other challenges included incorrect and out-of-date data, with only 4% reporting not encountering any of these problems.

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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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The Wild West of plastic credits and offsets

GreenBiz

There is no industry standard or definition . However, there is no formal or standardized definition for plastics crediting, and such claims are inconsistently defined and applied differently from organization to organization. The potential for greenwashing is high. Given that U.S. Pull Quote. Circular Economy. Plastic Waste.