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But 40% of the reductions came from divesting, or selling off, dirty assets, which from the atmosphere’s perspective is akin to rearranging deck chairs on the Titanic. In terms of sustainable capital expenditures, as a whole the 20 companies projected total sustainableinvestments of $528 billion (all figures in U.S.
This week in ESG news: Microsoft launches new multi-framework ESG reporting solution; Goldman Sachs exits Climate Action 100+ as political pressure builds; World Bank issues bond with interest linked to reforestation-based carbon removals; GM signs its largest-yet renewable energy deal; Texas expands its divestment list of financial companies “boycotting” (..)
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Financial organisations thus have a major role to play in the decarbonisation of the global economy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 Clearly much more needs to be done to pivot towards more sustainableinvestment and lending practices.
The fund was previously under pressure to divest from carbon-intensive oil and gas companies but, like other asset owners, CalSTRS is choosing to engage, with divestment serving as a last resort. . If engagement and voting fails to promote positive change amongst investee companies, NBIM has demonstrated its willingness to divest.
At a time when we should be committing to more climate action, we simply do not have any more time to waste promoting the future production of fossil fuels, which is the ultimate cause of the environmental crisis that we are facing.” “I cannot vote for the [Offshore Petroleum Licensing] bill next week.
Outdoor clothing giant Patagonia has been a leader in sustainable fashion, using 100% recycled materials for packaging and catalogues and partnering last year with Eastman, an American chemical company, to create sustainable fibers from unusable pre- and post-consumer textile waste.
As more and more institutions and people are divesting from fossil fuels globally, climate responsible finance is booming. Part of this revolution is the meteoritic growth of green bonds, which were started in 2007 by the World Bank and the European Investment Bank. Water and Waste make up 14 and six percent, respectively.
Through SIPs, trustees with 100 or more members are now expected to publicly state their – or their external managers’ – engagement policy and priorities, and explain in detail how they steward their sustainableinvestments. Trustees are expected to indicate in their ISs whether their expression of wish has been followed. .
billion in clean energy awards; new supply chain decarbonization solutions partnership by Bain, Terralytiq; capital raises for carbon removal, fusion energy tech; sustainable aviation fuel production to double this year, and more.
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