World Bank, major businesses and nations unite against coal funding
The One Planet Summit in Paris has signalled the beginning of the end for the coal industry, after the World Bank, numerous financial institutions and a group of nations and major businesses all pledged to phase out fossil fuel funding and use.
EU announces €9bn in funding for climate action
The European commission has announced funding of €9bn (£8bn) for action on climate change, one of a flurry of measures from governments, businesses and investors aimed at achieving the goals of the 2015 Paris agreement.
Corbyn backs MP pension divestment as business leaders call for improved climate disclosure
A group of 100 MPS, including Labour's Jeremy Corbyn and the the Green Party's Caroline Lucas, have called for a £612m pension fund to divest from fossil fuels, while leading chief financial officers have endorsed the recommendations of the Task Force on Climate-related Financial Disclosures.
UK banking performance at odds with Government's green finance leadership ambitions
The UK Government's ambition to promote the UK as a global leader of green finance post-Brexit is already at risk, with a new report finding that French banks have shown "marked leadership in green banking" because of innovative new legislation.
Water risks still 'invisible' to finance sector, says ING
Commercial banks are struggling to overcome a communications barrier with businesses to gain insight into portfolio risks specifically associated with water, according to Dutch bank ING's vice president for sustainable finance Ambika Jindal.
Can government and investors make post-Brexit UK a green finance leader?
The recent Clean Growth Strategy has created a multi-billion-pound framework for low-carbon growth, but the UK Government is still keen to strengthen relationships with investors to tackle the "hard and challenging" times ahead.
New investor partnership scores corporates on physical climate risk exposure
Deutsche Asset Management (DAM) has formed a new partnership with a US-based advisory to develop a first-of-its-kind climate risk service that calculates the physical climate risks of investor portfolios.
HSBC pledges $100bn to sustainable finance
As Bloomberg New Energy Finance (BNEF) releases findings showing that energy investment in emerging markets suffered its largest year-on-year decline, HSBC has pledged to provide $100bn in sustainable financing by 2025 - as part of a new batch of climate-related commitments.
High street banks still financing fossil fuel growth
The UK's high street banks are profiting from some of the world's dirtiest fossil fuel projects despite committing to deliver the Paris Agreement goals of limiting global warming to below 2C.
Huge private sector investment puts Paris climate target in reach, says report
At least one trillion dollars are being invested globally in ways to reduce the threat of climate change, including renewable power, energy efficiency, and public transport around the world.
Oil refining capacity set to shrink by a quarter during low-carbon transition
A quarter of global refining capacity will leave the market or be forced to close by 2035, sparking calls for investors to be aware of the risk of "wasting capital" on new investments into the oil sector.
Can green mortgages help the European Union reach climate and building targets?
New reports provided by the World Green Building Council (WorldGBC) have outlined how an "energy-efficient mortgage" could provide the ideal financial instrument to improve the energy performance of Europe's existing housing stock.
Investors urged to engage with Sustainable Development Goals
Investors have been urged to support the "world's most pressing environmental, social and economic issues" by using the Sustainable Development Goals (SDGs) as a capital allocation guide.
Investors implore banking firms to champion climate disclosure
More than 100 investors with $1.8trn under management have written to the chief executives of 60 of the world's largest banks, including HSBC and Bank of America, calling for better disclosure and implementation on climate risks in their investment portfolios.
Millennials twice as likely to invest in green business, survey reveals
Millennials are driving global growth in sustainable investing, according to financial services firm Morgan Stanley, which has discovered that the younger generation are twice as likely to invest in companies targeting social or environmental goals.
World's first climate disclosure lawsuit to set 'important precedent' for businesses
Pressure is mounting on the private sector to consider climate change risk in annual reports after the world's first climate disclosure lawsuit was lodged today (8 August).
JP Morgan commits to 100% renewables as it makes $200bn clean finance vow
One of the world's biggest banking institutions JP Morgan Chase, has pledged to facilitate the "largest commitment" by a financial institution in the form of a $200bn clean financing fund, alongside a transition to 100% renewable energy.
New £5 and £10 banknotes have smaller lifetime carbon impact
New £5 and £10 notes unveiled by the Bank of England earlier this month have carbon footprints 16% and 8% lower than previous paper versions, new analysis from the Carbon Trust has revealed.
Kerbside drink carton collections up 16-fold in decade
The kerbside collection of beverage cartons for recycling has seen a 16-fold increase across local authorities in the past decade, according to new figures released this week.
Global banks worth $7trn pledge support to TCFD climate disclosure guidelines
Eleven of the world's top banks, including Barclays and Santander, have jointly committed to adopt key elements of a new international framework which seeks to improve climate transparency in the financial industry.
TCFD: Businesses worth $2trn back final climate disclosure recommendations
More than 100 businesses including Unilever, Barclays and HSBC, have publicly committed to support the final recommendations listed by the Task Force on Climate-related Financial Disclosures (TCFD), which seeks to disclose climate information as part of mainstream financial statements.
New data hub offers financial oasis against climate-related hazards
A new global data community aimed at expanding the climate risk adaption strategies for the insurance and investment markets has launched this week (5 June), to protect economic losses incurred through damages to infrastructure during natural disasters.
Triodos launches UK's 'most sustainable' personal current account
Sustainable banking group Triodos has today (26 April) ramped up efforts to disrupt the "dysfunctional" banking sector through the launch of a new personal current account that embraces responsible finance.
'The scales have tipped': Majority of investors taking action on climate change
The number of the asset owners recognising and acting on the risk of climate change has risen by almost a fifth in the last year, with 60% of the world's biggest investors taking steps to protect their portfolios, a new report has revealed.
Major firms implore G20 to act on climate-disclosure risks
The chief executives of 27 global businesses, including HSBC, Unilever and PwC, have called on G20 governments to adopt recommendations that call on companies to disclose climate-related financial risks.
Philips agrees €1bn loan connecting sustainability performance with finance
Philips has agreed a pioneering €1bn loan in collaboration with banking group ING, with an interest rate dependent on the year-on-year advance of the global lighting firm's sustainability performance.
Private sector funding for smart cities hindered by regulatory constraints, say experts
The private sector will have to mobilise "enormous" amounts of capital to help with the global smart cities transition, but nations must first address regulatory and institutional barriers to incentivise the movement.
BlackRock headlines green bonds push, but is investor action ambitious enough?
As a new briefing paper highlights that up to $6.9trn in controlled assets are covered by investors with little to no environmental, social and governance (ESG) responsibility, the world's largest investor has headlined a stream of new green bond announcements.
Minister responds to fears over GIB restructuring
Business and energy minister Nick Hurd has written to the head of the Environmental Audit Committee to respond to concerns over the restructuring of the Green Investment Bank ahead of its sale.
G20 set to scale back climate funding pledges
Pledges from G20 nations to finance climate mitigation strategies, including the $100bn fund for developing countries, could be set aside, with ministers instead calling on development banks to raise private capital to meet the bill.
World Bank unveils first green bonds linking business actions to SDGs
The World Bank has issued its first ever set of green bonds that directly link financial returns to companies performing to the standards and aims on the United Nation's Sustainable Development Goals (SDGs).
Barclays delivered £21bn for sustainability projects in 2016
Multinational bank Barclays raised £21.1bn in finance for environmental and societal schemes in 2016 as part of a fresh strategy that focuses on enhancing the sustainability of its business model.
HSBC revamps deforestation policy after Greenpeace investigation
HSBC has launched a new zero-deforestation policy following a Greenpeace investigation which linked the banking corporation to organisations that have been destroying Indonesia's rainforests.
World Bank quashes fossil fuel funding claims
The World Bank has criticised what it believes are "grossly misrepresented" findings from the Bank Information Center (BIC), which has claimed that up to $5bn in intended low-carbon funds have instead been used to introduce tax breaks for fossil fuel developments in developing countries.
Major banks failing to align climate strategies to Paris Agreement targets
Despite more than 70% of banks introducing environmental and carbon footprint stress, many are failing to align business and investment strategies in keeping with the 2C pathway scenario established through the Paris Agreement.
Mark Carney and Michael Bloomberg set out recommendations for climate disclosure adoption
The first global, industry-led effort to create recommendations for climate-related financial disclosures has been published by the Task Force on Climate-related Financial Disclosures (TCFD).
Fossil fuel divestment funds double to $5tn in a year
The value of investment funds committed to selling off fossil fuel assets has jumped to $5.2tn, doubling in just over a year.
Banks not living up to climate pledges, says Christian Aid
Charity organisation Christian Aid has today (November 7) kick-started a campaign calling on UK's major high street banks to rapidly shift investments from fossil fuels to clean energy.
Investors want more transparent sustainable funding opportunities
New research from ethical investment specialists Triodos Bank has revealed that investors want to increase ethical investment prospects and enhance socially responsible investment (SRI) opportunities, despite many feeling that they don't have the opportunity to do so.
Developed nations 'confident' of hitting $100bn climate action pledge
Developed countries are "confident" that $100bn will be financed annually to aid climate actions in developing countries by 2020, a new report compiled by the UK and Australia has revealed.
Barclays supports 'disruptors of tomorrow' with green innovation scale-up scheme
Hydrogen vehicle pioneer Riversimple, London's first subterranean farming concept Growing Underground and tree-planting drone developer BioCarbon Engineering are among 10 British green business start-ups that look set to undergo a period of intensive scale-up after taking part in a new accelerator scheme launched by Barclays Bank.
Baker & McKenzie becomes first law firm to join carbon price coalition
Multinational law firm Baker & McKenzie has become the first legal industry representatives to join the World Bank's Carbon Pricing Leadership Coalition (CPLC) in a commitment to help clients "respond innovatively to the risks - and opportunities" of an economically regulated low carbon future.
'Rapid' low-carbon transition could damage economic stability, warns Bank of England
The transition to a low-carbon economy is filled with potential paradoxes that could lead to either the current generation having no "direct incentive" to drive change, or actually transitioning too quickly to the point where financial stability would be damaged.
Businesses match governments with bold climate pledges during Climate Week NYC
The level of climate ambition shown from businesses during Climate Week 2016 in New York City (NYC) is continuing to mount, with eight more companies making 100% renewable energy pledges and four firms committing to double the energy productivity of their operations.
Climate Week 2016: Apple and Bank of America lead corporate charge towards net-zero economy
Climate Week New York City (NYC) 2016 has kicked off in style with America's largest tech firm and second-largest bank headlining a flurry of ambitious corporate commitments to a renewable energy-based future.
New Triodos chief pledges to lead 'movement for change' among UK banks
"Our banks are not serving the needs of society," says Dr Bevis Watts, who has this week been confirmed as the first 'environmentalist' to take up a lead executive role within a UK bank.
Development banks co-ordinate climate finance in bid to drive global low-carbon transition
Major Multilateral Development Banks (MDBs) have demonstrated a strengthened collaborative commitment to track development flows for climate finance in an attempt to build on the momentum established at last year's Paris Agreement, as highlighted in an annual joint report.
ING raises €27bn in funding for growth of sustainable clientele
Dutch multinational banking group ING has revealed the efforts it has implemented to finance the shift to a low-carbon economy, which has seen the company fund more than €27bn to clients aiming to solve environmental challenges.
Nationwide rewarded with Carbon Trust Triple Standard after exceeding sustainability targets
The world's largest building society, Nationwide, has become the first high street financial services provider in the UK to achieve triple re-certification to the Carbon Trust Standards for its "holistic approach" to managing carbon, water and waste.
Low-carbon movement requires $7trn in green infrastructure, warns Bank of England
Close to $7trn will need to be spent on new green infrastructure across the globe in order to cut carbon emissions over the next 20 years, the Bank of England's governor Mark Carney has claimed.
London sets the benchmark for mobilising climate finance
A new report has praised London for its ability to mobilise climate finance, and has called on global cites to turn to the private sector in order to invest the necessary $57trn in infrastructure to transition to a low-carbon economy.
Felipe Calderón: Universal carbon pricing and green bonds needed to entice investors
Former President of Mexico and chair of the Global Commission on the Economy and Climate Felipe Calderón has called for a universal carbon pricing mechanism to promote private investment in low-carbon technologies and "get the job done" following the Paris Agreement.
RBS hits £1bn milestone for green loans
The Royal Bank of Scotland (RBS) has doubled its financial lending to sustainable energy projects, with more than 400 small and medium-sized businesses (SMEs) acting as benefactors of a £1bn lending spree from the bank in 2015.
World Bank to spend 28% of investments on climate change projects
The World Bank has made a "fundamental shift" in its role of alleviating global poverty, by refocusing its financing efforts towards tackling climate change, the group said on Thursday.
Could the UK's first Green ISA create a £60bn investment pot?
The UK's first 'Innovative Finance ISA' launched today (6 April) from investment platform Abundance, allowing investors to finance renewable projects through an operative tax ISA that could boost the green economy by £28.5bn.
Businesses 'dared' to embrace circular economy as ING prepares for new era of green finance
EXCLUSIVE: Companies should be ready and willing to shake up their business models in favour of the circular economy, with Dutch multinational banking group ING indicating a strong desire to provide more financial support for the low-carbon movement.
World Bank backs $1.15bn movement to future-proof developing cities
A new $1.15bn global platform aimed at boosting investment and implementing sustainable practices across an array of developing cities around the world has been launched, after receiving financial backing from the World Bank and Global Environment Facility (GEF).
Barclays surges past carbon reduction target
Barclays is now beginning to shift its focus to supply chains and scope-three emissions after the British bank's latest sustainability report reveals it has reduced its carbon footprint by 37% - far exceeding a two-year target of a 10% reduction.
RE100 companies halfway to 100% renewable target
The 53 companies that have signed up to the RE100 pledge to source 100% renewable energy are on average, halfway to their goals, a new report by The Climate Group and CDP shows.
Has Britain thrown away its chance to be the world centre of green finance?
EXCLUSIVE: There is a real opportunity for Britain to establish itself as the global centre of green investment, but the Government's 'confused' energy policy risks driving investors to Paris or other financial centres.
Global middle class can drive climate action, says UBS
The global middle class could hold the key to mobilising climate action, a new report from financial services firm UBS has claimed.
Fossil fuel industry pressed to pay for share of climate damage
More than 60 environmentalist organisations are calling for a tax on fossil fuel extraction that would see energy giants pay compensation to countries being impacted by climate change.
GIB makes third investment in Northern Ireland's AD industry
The UK Green Investment Bank (GIB) and private equity group Foresight have committed to invest £1.7m in the construction of an anaerobic digestion (AD) plant in Northern Ireland.
Santander rolls out 90,000 LED bulb retrofit
The UK's fifth-biggest bank has today (8 December) announced a new project that will see 800 of its UK branches fitted with more than 90,000 LED lights in a £17.5m retrofit lighting investment.
Michael Bloomberg to head up new climate task force
Former New York City mayor Michael Bloomberg is to lead a new industry-led task force which will offer climate change-related financial risk disclosures to companies and investors.
Goldman Sachs urges investors to target solar and wind power for optimal climate impact
Investors have been encouraged to target four key low-carbon technologies - solar photovoltaics, LED lighting, wind power and electric vehicles - as the most effective ways to tackle climate change.
Unilever to be carbon positive by 2030
Global consumer goods firm Unilever has announced a new target to be carbon positive across its operations by 2030.
GIB backs £10bn green projects in three years
In the last three years, the UK Green Investment Bank (GIB) has committed £2.3 billion to 58 green infrastructure projects with a total value of £10.1 billion, making it the most active investor in the UK's renewable energy and energy efficiency industries.
Climatescope surveyed and analyzed 55 important developing world nations in Africa, Asia and Latin America and the Caribbean to evaluate their ability and potential to attract capital for low-carbon energy sources and measure what has been achieved to date. The report focused particularly on India and China where 10 states and 15 provinces were examined in greater detail.
HSBC injects $1bn into green bond portfolio
HSBC has become the latest bank to ramp up its commitment to sustainable business with the launch of a new $1bn green bond portfolio that will be used to fund projects in the renewable energy sector.
View From the Top: How Corporate Boards Engage on Sustainability Performance
A unique dynamic exists between investors and board members. Directors are responsible for ensuring value for us, the shareholders. Yet, even the most patient investors must become involved these days in helping directors focus on the longterm. Because in an increasingly volatile, global, tech-driven, and competitive economic environment, short-termism often overwhelms planning for sustainable growth and returns.
Goldman Sachs to invest $150bn in clean energy
Banking giant Goldman Sachs has announced it will leverage $150bn into clean energy financing and investments by 2025 as it also aims to become the first US investment bank to be carbon-neutral across its operations.
1.85 million Brits financing 'positive investment' market
A record 1.85 million people across the UK have invested a total of £3.6bn in ways that to create positive social and environmental impact, according to a market update from investment platform Ethex.
BP: Oil unlikely to be fully exploited due to climate concerns
The world's oil resources are unlikely to ever be fully exploited, BP has admitted, due to international concern about climate change.
GIB raises £355m for world's first offshore wind fund
The UK Green Investment Bank (GIB) has raised £355m in the second tranche of investment for its Offshore Wind Fund, bringing the total value to more than £818m.
Development banks to deliver $51bn annual climate finance
Two of the world's largest development banks have unveiled separate commitments to boost climate-related financing by up to a third.
Paris climate talks should not put figure on finance, says World Bank vice-president
The Paris conference on climate change should not set a target for future financial assistance to developing countries, according to the World Bank's top official on climate change.
Big Switch: LED rollout would cut 2.3% of global emissions
If the world leapfrogged to LED lamps in all sectors, global electricity consumption for lighting would be reduced by more than half (52%), with 735 million tons of CO2 emissions avoided each year
Green jobs boost for Wales with clean energy hub
Plans to build a Centre of Renewable Energy Excellence in Pembrokeshire have been unveiled in Wales, in a bid to make the area an international standard-bearing for green energy.
Fossil fuel companies face world-first human rights complaint
Chevron, BP and Shell are among 50 oil companies who face an investigation from the Phillipine courts, after accusations that they have fuelled 'catastrophic climate change resulting in human rights violations'.
Bristol saves £1m a year from 20,000 upgraded streetlights
A change of bulbs in 20,000 streetlamps in Bristol has seen the council save £1m a year on energy bills, reducing C02 emissions by 4,000 tonnes in the process.
RBS unveils 8 green innovations at global headquarters
The Royal Bank of Scotland has announced the eight eco-innovations that will be trialled at its world headquarters in Gogarburn as part of its innovation sponsorship programme.
Waste from Notting Hill Carnival could power 80,000 hot showers
Westminster City Council are expecting to collect around 200 tonnes of waste from Notting Hill Carnival this weekend, which, if converted correctly will generate enough energy to power 80,000 showers.
Global investors urge food firms to address rising water risks
Investors managing more than $2.6trn in assets have sent joint letters to 15 international food and drink companies amid growing concerns over water security and pollution.
New app could cut domestic energy use by 10%
A new app that can reportedly cut household energy use by 10% is being rolled out to 200,000 Swedish homes.
Diageo saves almost 3 billion litres of water
Diageo has improved its water efficiency by more than 10% in the past year, according to the drinks giant's latest sustainability report.
Teesside set for world's largest combined heat and power biomass plant
Teesside is to be the site of the world's largest new power and steam biomass plant as part of a new £424m project.
India's clean energy revolution set to price out imported coal
India's growing renewable energy market could end the country's reliance on coal imports, a new report has found.
Standard Chartered abandons giant coal mining project
One of the UK's largest banks, Standard Chartered, has announced it is pulling out of a major coal mining project in Australia.
Albion Community Power gains £10m boost for renewable projects
A major community-scale renewable energy scheme received a £10m funding boost today (10 August), closing in on its £100m funding target.
Dogger Bank: Plans for 2.4GW of offshore wind capacity scrapped
The giant Dogger Bank offshore wind project - scheduled to consist of six individual wind farms - will not be fully built, it has been confirmed today (7 August).
Government green-lights giant Dogger Bank offshore wind farm
The Department of Energy and Climate Change (DECC) has granted planning permission for the construction of a giant offshore windfarm off the North East coast of England.
Community solar farm partnership offers local investors solar bond profits
A new joint venture will see solar farms offering returns on local investments to communities in Kent and Warwickshire.
Greenpeace holds 'Titanic' protest against Shell Arctic oil drilling
Greenpeace has today (3 August) held the opening recital of a month-long run of musical protests against Arctic oil drilling taking place outside Shell's offices in London.
World Bank rejects energy industry notion that coal can cure poverty
The World Bank said coal was no cure for global poverty on Wednesday, rejecting a main industry argument for building new fossil fuel projects in developing countries.
Majority of banks fail to encourage sustainable forestry, UN finds
The majority of financial institutions do not have policies requiring clients to comply with forestry regulations, according to a study by the United Nations Environment Programme (UNEP) revealed today (29 July).
American firms pledge $140bn to support Obama's climate action
Apple, Coca-Cola and Walmart are among 13 American multinationals that have put forward $140bn of new low-carbon investment in an announcement at the White House today (27 July).
Co-operative Bank offsets 100,000 tonnes of CO2 in 'beyond carbon-neutral' scheme
The Co-operative Bank has reported reductions in its waste and water use and sourced 99% of its electricity from renewable energy in the company's latest values and ethics report.
Green Investment Bank seals future of Sheffield biomass plant
Developers of a new biomass plant in Sheffield have secured £30m funding from the UK Green Investment Bank (GIB) and fund managers Equitix.
Summer Budget 2015: Osborne provides further uncertainty for green business
Chancellor George Osborne has brought further uncertainty to green leaders, with an emergency Budget that confirmed more taxes for renewables along with tax-breaks for oil and gas.