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Leeds (pictured) is hosting the new Bank

UK's National Infrastructure Bank launches, with tackling climate change as key objective

The UK's National Infrastructure Bank (NIB) is launching in Leeds today (17 June), with Chancellor Rishi Sunak promising that it will funnel billions of pounds into the UK's net-zero transition.

The UK's 2019 'State of Nature' report revealed that most UK species have declined since the 1970s, with 15% now facing extinction 

UK Government commits to 'nature-positive' future following landmark biodiversity review

Following the publication of the landmark Dasgupta Review, which argued the case for biodiversity considerations to be embedded in all economic decisions by the government, a new commitment for all large infrastructure projects to be 'nature positive' has been made.

The TNFD has officially launched today

Can the Taskforce on Nature-related Financial Disclosures solve the global ecological crisis?

The Taskforce on Nature-related Financial Disclosures (TNFD) officially launched on Friday (4 June) with an overarching aim to align corporate reporting and financial spending to alleviate nature-related risks. Here, edie explores whether the new initiative can generate enough momentum to deliver tangible change.

Mondi’s new strategy was released in January this year

Mondi inks €750m adjustable loan based on SDG performance

Packaging giant Mondi has signed a new €750m revolving multicurrency credit facility agreement (RCF) that will be adjusted based on the company's performance against its sustainability strategy that is aligned to the Sustainable Development Goals (SDGs).

HSBC must now publish a plan outlining its new phase-out policy

Shareholders pass vote for HSBC to phase-out global coal financing by 2040

Shareholders of HSBC have today passed a proposed management resolution that commits the bank to phase-out financing for the coal industry by 2040 worldwide, following successful campaigning from investors.

The G7 Summit will continue to focus on the net-zero transition

Next G7 Summit in Cornwall to be certified as carbon neutral

The UK Government has confirmed that the next G7 Summit, due to take place in Cornwall next month, will comply with internationally recognised standards for carbon neutrality.

Sir Roger helped the Green Finance Institute to focus on growing the contribution of the financial sector to the G20 climate agenda

Green Finance Institute chair Sir Roger Gifford passes away

Green Finance Institute chair and senior banker for Skandinaviska Ennskilda Banken (SEB), Sir Roger Gifford, has passed away aged 65.

Covid-19 was cited as the biggest barrier to sustainability-related action from banks

Survey: Sustainability prioritised by less than one-third of UK bank boardrooms

In a survey of 300 executives at some of Europe's biggest banks, less than one-third of UK respondents said their business is framing sustainability and a board-level priority.

Revised targets will be published at an as-yet-unspecified date

MSCI commits to net-zero emissions before 2040

American finance firm MSCI has announced its intention to reach net-zero emissions before 2040, pledging to revamp its current decarbonisation goals and align with the recommendations of the Taskforce on Climate-Related Financial Disclosures (TCFD).

Earlier this year, the bank set a 2050 target for net-zero financed emissions

JP Morgan Chase pledges $2.5trn to climate and sustainability this decade

US-based finance giant JP Morgan Chase has unveiled plans to provide more than $2.5trn of finance to sustainable development projects by the end of 2030.

The commitment will support a broader $1.5trn sustainable finance goal that is aligned with the UN Sustainable Development Goals

Bank of America commits $1trn to global sustainability initiatives

The Bank of America has increased an existing $300bn sustainable business initiatives fund to attempt to mobilise $1trn by 2030 for initiatives that will support the net-zero transition.

Under the UNFCCC developed nations committed to financing $100bn annually by 2020, however, developed nations have failed to fulfil this commitment

G7 ponders increasing climate finance in build-up to COP26

Chancellor Rishi Sunak met with G7 finance ministers and central bank governors to discuss the role of finance in supporting the net-zero transition and implored developed nations to raise efforts to generate $100bn in annual revenue to support developing nations combat the climate crisis.

The decision could impact more than 1,500 businesses

Government ponders mandatory TCFD requirements for businesses in 2022

The Government is considering creating a legal requirement for private UK companies to outline and disclose climate-related risks to their business in line with Taskforce on Climate-related Financial Disclosures (TCFD) recommendations, with a mandate potentially coming into force next year.

The resolution will be put to a vote in May at HSBC’s AGM

HSBC to vote on phase-out of fossil fuel funding

HSBC will propose a new commitment to completely phase-out financing of coal-fired power and thermal coal mines by 2040 globally, following negotiations with a group of investors with $2.4tn in assets under management.

One-fifth of net revenue will be reinvested back into The Big Issue

Big Issue launches climate solutions fund as CaixaBank issues €1bn SDG green bond

The Big Issue Group (TBIG) has partnered with Aberdeen Standard Investments to create a new climate solutions investment fund, while Spanish retail bank CaixaBank has issued a €1bn green bond in alignment with the Sustainable Development Goals (SDG).

The EU's Green New Deal is meant to see the EIB becoming 'the climate bank' for the bloc

EIB spent €890m on fossil gas since phase out pledge, activists say

The European Investment Bank (EIB) has invested €890m in gas projects since it pledged to phase out investments into fossil fuels by 2022, contradicting the bank's "gas is over" narrative, activists say.

Sunak will be hosting a press conference after the Budget speech on Wednesday. Image: HM Treasury 

Budget 2021: Businesses and charities make last-minute calls for green funding to Rishi Sunak

With the 2021 Budget being announced on Wednesday (3 March), Chancellor Rishi Sunak is facing mounting pressure over the Green Homes Grant, National Nature Service and other green policy decisions.

The “Terra Carta” outlines ten areas of action for businesses looking to respond to the scale of the interconnected climate and nature crises 

Banking giants unite with Prince of Wales on financial net-zero taskforce

The Prince of Wales' Sustainable Markets Initiative (SMI) has announced that executives from the likes of Bank of America, BNP Paribas, NatWest and Lloyds have joined on as members of a new Financial Services Task Force aiming to create a net-zero investor sector.

Pictured: Jersey City, where Goldman Sachs Tower is located

Goldman Sachs issues first sustainability bond, priced at $800m

US-based finance giant Goldman Sachs has issued its inaugural sustainability bond, priced at $800m, as it strives to mobilise $750bn in green finance by 2030.

The Bank of America is one of the biggest players in the US market, with more than $2.1trn of assets under management 

Bank of America targets net-zero financed emissions and supply chains by 2050

After being accused by investors and green groups of continuing to finance high-carbon projects, Bank of America has pledged to reach net-zero emissions across the projects it finances and its supply chain by 2050.

Sunak additionally launched a £4bn “levelling up” fund, designed to help cities, towns and regions improve infrastructure and skills

Green groups call for assurances over National Infrastructure Bank

A host of green groups have written to the Chancellor of the Exchequer Rishi Sunak, urging for the implementation of a UK National Infrastructure Bank (NIB) to de-risk private investment into low-carbon solutions.

Smart Pension will also introduce a new Social Impact Fund in the next few months

Smart Pension commits to net-zero emissions ahead of Government deadline

Workplace pension provider Smart Pension has joined an initiative led by Comic Relief co-founder Richard Curtis that will see the company commit to net-zero emissions "well ahead" of the Government's 2050 deadline.

More than eight billion allowances changed hands through European markets in 2020, a near-20% increase on 2019 levels

Global carbon market grew 20% in 2020

The valuation of the global carbon market grew 20% in 2020, totalling almost €230bn and the fourth consecutive year of record growth, new research has found.

Image: Vincent Zafra / Illusion Story https://commons.wikimedia.org/w/index.php?title=User:VincentZafra&action=edit&redlink=1

Robert Downey Jr launches ESG venture capital funds

Renowned actor and producer Robert Downey Jr. has launched a new Environmental, Social and Governance (ESG) venture capital investment fund aiming to support sustainability products and services, clean energy and resource efficiency.

The bank doubled its corporate bond programme in response to Covid-19. Image: George Rex, CC BY SA

Bank of England's high-carbon financing a 'moral hazard', MPs warn

The Bank of England risks creating 'moral hazard' by continuing to finance high-carbon projects and companies and providing no-strings-attached financing to carbon intensives companies, the Environmental Audit Committee (EAC) has warned.

Some of the world's largest banks have been linked to industries that are causing mass deforestation and biodiversity loss

Banks urged to set time-bound targets to tackle deforestation

A new report has outlined how banks can take proactive steps to improve traceability and accountability of contributions to deforestation, as part of a first step to accelerating action towards a forest-restorative economy.

If the new resolution receives more than 75% of votes at the bank’s upcoming AGM in April, HSBC would be required to publish a strategy

Investors file climate resolution at HSBC

Investors with a combined $2.4trn in assets under management have filed a resolution at HSBC, calling on the bank to publish a strategy that outlines efforts to reduce exposure to fossil fuel assets.

Green finance has been an increasingly core issue in 2020

Science-based targets and renewable energy investments: Credit Suisse and Nest unveil first steps towards net-zero

Swiss investment bank Credit Suisse has unveiled a string of new climate measures, in the same week that the UK's largest pension scheme, Nest, outlined steps to help it meet its net-zero goal.

The NIB has been welcomed across the green economy, but many say the devil is in the details

Green Finance Institute: UK's new National Investment Bank must go beyond energy

The UK's new National Investment Bank (NIB) must have strong net-zero criteria and support the low-carbon transition in the transport, built environment and nature sector as well as energy, the Green Finance Institute (GFI) is urging.

The 100-page report outlines the Government’s intention to “deliver an infrastructure revolution” that is tied to net-zero

National Infrastructure Strategy: Government to deliver 'revolution' tied to net-zero

The Government has launched its long-awaited National Infrastructure Strategy, detailing how transport, industry, energy and the built environment will be transformed to reach net-zero, with Chancellor Rishi Sunak using his spending review to confirm a £12bn commitment to the net-zero transition in 2021-2022.

Rishi Sunak is expected to outline how £100bn will be spent on infrastructure in the UK

Government set to unveil national infrastructure bank tied to net-zero

The Government is expected to unveil the long-awaited National Infrastructure Strategy (NIS) this week alongside the Spending Review, with a National Infrastructure Bank set to be created to replace the UK's involvement with the European Investment Bank and funnel capital towards net-zero projects.

Oil and gas majors, along with materials giants, airlines and automakers, received the letter 

Disclose climate risks or face divestment, investors warn Europe's largest companies

A coalition of investors representing more than $9trn of assets has asked some of Europe's largest and highest-emitting companies, like Shell and Maersk, to prove they are aligning with the Paris Agreement and to improve climate risk disclosure.

Under the EU's Green New Deal, the EIB is planning to become a 'climate bank'

European Investment Bank unveils £1trn green investment plan through 2030

EU member states have approved the European Investment Bank's (EIB) plans to spend €1trn on the green economy within a decade and to ban funding for fossil fuel projects and airport expansions.

Hollie has been with Aldi for around four years and plays a core role in delivering against its plastics reduction targets

Meet edie's 30 Under 30 Class of 2020: Hollie Clark, Aldi UK

This new series profiles the members of edie's 30 Under 30 - a nomination-based community of 30 hugely talented young sustainability and energy professionals who have already achieved great things or are showing fantastic promise. Up next: Hollie Clark, Aldi UK's corporate responsibility manager.

Many carbon offsetting schemes involve afforestation or reforestation - but what real-world benefits do they really bring?

Carbon offsetting: How are businesses avoiding greenwashing on the road to net-zero?

With the net-zero movement gathering pace, ever more businesses are turning to carbon offsetting to tackle hard-to-abate emissions. But is this a credible choice, or simply a clever greenwashing tactic?

On average, each of the 50 banks was linked $52bn in finance that is causing biodiversity loss risk

Banks and agribusiness linked to biodiversity loss

Some of the world's largest banks have been linked to industries that are causing mass deforestation and biodiversity loss, with some in the finance sector providing loans and underwriting worth more than $2.6trn to climate-wrecking initiatives.

London can lead the UK's net-zero ambition as a world beating sustainable city

Boris Johnson's party conference address confirmed an already established belief that the green economy is no longer a fringe idea but is ripe for centre stage. The government is wholeheartedly committing to our net-zero targets - and is now detailing the tangible measures that can make this a reality.

Green finance and dimensions of financial risk have been key talking-points in the wake of Covid-19

Just 3 in 10 UK banks have a net-zero target, PwC claims

A survey of 17 of the UK's largest banks has found that just five of them have net-zero targets or science-based emissions targets, meaning they risk breaching their legal requirements on climate change.

Green finance has become an increasingly pressing topic in light of the climate and nature crises and the pandemic

Survey: One in five British investors turning to impact investment amid Covid-19

More than one-fifth (22%) of UK-based investors are planning to invest in dedicated ethical funds in the near future, with the proportion rising to more than one-third (35%) among those aged 35 and under.

Several major banks have outlined new climate targets since the pandemic began

HSBC sets net-zero target, plans $750bn of low-carbon investment by 2030

HSBC has committed to reaching net-zero financed emissions by 2050 and outlined plans to finance at least $750bn of low-carbon activities within a decade.

All three webinar and masterclass sessions are available to watch on-demand for those who have registered

Available to watch on demand: edie's green recovery webinar sessions

Expert speakers gave insight and advice during a free set of green recovery-themed webinars and masterclasses that took place on Wednesday 23 September. You can watch the sessions, featuring the Aldersgate Group, BT, Bank of England, Ella's Kitchen, UKGBC on demand. 

Morgan Stanley will still have to develop a strategy for meeting its net-zero commitment

Morgan Stanley commits to net-zero financed emissions by 2050

Global banking firm Morgan Stanley has unveiled a new commitment to reach net-zero financed emissions by 2050, while new research reveals that while almost half of the FTSE 100 companies have net-zero commitments in place, they don't yet have detailed strategies to reach these goals.

#SustyTalk: Lloyds Banking Group's James Wilde on financing the green recovery

edie's #SustyTalk interview series continues with Lloyds Banking Group's head of sustainability James Wilde taking part in a virtual discussion on financing the green recovery, as well as providing an update on the bank's efforts to halve its emissions.

Differentiating from sustainable to transitional finance could impact society across the globe

Inclusive recovery: Can a post-pandemic economy shift society and sectors to greener pastures?

The world is still reeling from the continued impacts of the coronavirus pandemic, but the financial decisions that are made now will determine whether all sectors and parts of society are brought along the green recovery.

The report is supported by companies representing more than $18trn in assets under management

Banking and finance giants issue support for circular economy investment

More than 30 chief executives from some of the world's largest banks and asset managers, including BlackRock, Barclays, Lloyds, ING and the European Investment Bank, have backed new research from the Ellen MacArthur Foundation (EMF) highlighting how green finance can spur the circular economy.

CBI research shows that for every £1 spent on construction activity, £2.92 is created in wider value to the economy

UK needs 'significant' overhaul of infrastructure investment to reach net-zero, report claims

The Confederation of British Industry (CBI) has claimed that the UK Government needs to "undertake a significant programme of infrastructure investment" to enable regulators and private investment to create funding for critical net-zero infrastructure.

The figures were calculated using spending data

UK emissions still down 14% despite lockdown easing, Carbon Trust analysis finds

The UK's greenhouse gas emissions footprint is down 14% year-on-year per capita basis, new analysis of consumer spending data by the Carbon Trust has concluded.

Plan B’s director Tim Crosland argued that the decision remains a “fundamental breach of the social contract” and is working to file a claim with the courts

Treasury defends lack of 'green strings' tied to corporate Covid-19 relief packages

The Government has defended its decision to issue billion-pound bailouts for carbon-intensive companies and sectors, with the Treasury hitting back at accusations that the Paris Agreement and the climate crisis had been cast aside, but a court case still looms.

Bridging the gap between sustainability and finance

The role of an environmental professional on big infrastructure projects has changed dramatically during my career. Now we are approaching a period where sustainability and finance professionals engage on the crucial decisions that will shape the green future.

The new investor group will focus on improving corporate understanding and action on the materiality of climate risk

Private equity investors launch Paris-aligned climate disclosure framework

A group of private equity investors have launched an international network committing to engage with corporates in reducing carbon emissions in line with the needs of the Paris Agreement.

Credit Suisse's previous sustainable finance mechanisms have been tailored towards the Sustainable Development Goals

Credit Suisse cuts fossil fuel lending as part of £250bn green finance promise

Swiss investment bank Credit Suisse has unveiled plans to provide more than £250bn in financing geared towards green bonds and the low-carbon economy over the next decade, as well as pledging to limit financing to the oil and gas sector.

Citi said the new commitment will see it spending "almost twice as much, twice as fast" on sustainable projects

Citi targets $250bn environmental financing by 2025, as Moody's unveils science-based targets

Multinational banking giant Citi has pledged to funnel $250bn (£192.5bn) into low-carbon solutions by the end of 2025, in the same week that Moody's unveiled new Paris-Agreement-aligned climate targets.

Banks have faced mounting pressure to disclose and reduce the climate impact of their financing in recent times, by groups such as Extinction Rebellion

NatWest to disclose the climate impacts of projects it finances

NatWest Group has pledged to halve the climate-related impacts of its financing by 2030, after becoming the first major UK bank to join the Partnership for Carbon Accounting Financials (PCAF).

Morgan Stanley will attempt to drive engagement with a new global standard across its sector

Morgan Stanley to disclose climate impact of investments

Morgan Stanley has become the first US-based global bank to commit to measuring and disclosing the environmental impact of its investment portfolio and loan offerings and will join a global partnership to drive climate action across the global accounting sector.

The updated deal raises spending on climate action from 25% to 30%

Coronavirus: EU's recovery deal lacking climate spending accountability, green groups warn

Following four nights of negotiations, the European Union (EU) has agreed its biggest joint borrowing plan ever recorded, pledging €750bn to a coronavirus recovery package, but green groups have expressed concerns that focus and accountability on green spending have "taken a battering".

The companies are now engaging with the Bank of England, the Financial Conduct Authority and the Competition & Markets Authority on a set of recommendations 

Bankers for Net-Zero: Banks sign up to steer UK green recovery

Barclays and Triodos are amongst the first five banks to sign up to a new commitment exploring how the banking sector can fund the net-zero transition to deliver a green recovery in the UK.

The study calls for investment to be unlocked to improve the energy efficiency of UK homes

Government urged to spend £5bn to unlock £100bn green recovery

A group of businesses, mayors and political leaders have called on the Conservative government to spend £5bn to deliver on its promised manifesto pledges in order to unlock £100bn in capital investment on energy efficiency and create more than 300,000 green jobs.

A recent YouGov survey of more than 4,400 Brits found that 72% do not know whether their pension is invested in line with their values

Pension funds covering £3trn pressured on fossil fuel investments and net-zero alignment

Comic Relief co-founder Richard Curtis has launched a new campaign pressuring UK pension funds to halve the emissions of their portfolios by 2030 and bring them to net-zero by 2050.

GIG is aiming to improve the biodiversity at each site, with a Biodiversity Net Gain Assessment to be carried out on each project

Macquarie issues joint venture on 1GW solar and battery project pipeline

Macquarie's Green Investment Group (GIG) has announced a new UK joint venture with Enso Energy to create one of the largest solar and battery portfolios that will enhance the biodiversity on each project site.

Fossil fuel majors are believed to have received more than £2trn in finance since the Paris Agreement was ratified

Report: Global carbon budget will be exhausted in 15 years without fossil fuel finance overhaul

Without drastic action from banks, policymakers and regulators, the world risks becoming stuck in a "climate finance doom loop", whereby financial systems support the organisations contributing most to environmental changes which undermine their very security.

Two additional projects are expecting planning decisions in July

Government blocks Vattenfall's offshore windfarm expansion

The Government has refused to grant development consent for Vattenfall's 340MW windfarm extension off the coast of Kent, and has delayed two other planning decisions in the South East, in the same week that Total acquired a 51% stake in the £3bn Seagreen project in the Scottish North Sea.

Carbon Tracker warns that any oil or gas producers attempting to revert to “business as usual” could be risking in excess of $100trn in potential profits

Fossil fuel profits set to collapse by two-thirds

The global market value of fossil fuels is set to collapse by almost two-thirds, creating heightened economic risk for companies, financial markets and countries failing to embrace new low-carbon technology.

REGIO will access both public and private capital to fund climate mitigation projects in markets where access to capital is limited

HSBC raises £386m fund for climate mitigation in developing countries

HSBC, in partnership with the World Banks's sister organisation the IFC, has raised £386m ($474m) to support investments into climate mitigation across developing countries and markets.

BNP Paribas will no longer accept new customers whose share of coal-derived revenue accounts for more than 25%

BNP Paribas accelerates coal phase-out as BlackRock predicts clean energy future

Corporate bank BNP Paribas is speeding up its phase-out of support for coal projects, while BlackRock has claimed that renewables are still the course of action for the global energy mix. However, other investors that have made low-carbon commitments have been accused of supporting a tar sands oil project in Canada.

Unilever’s chief executive Alan Jope reflected that amidst a global pandemic it was the duty of business to repair a broken capitalism mode

Unilever's Alan Jope on repairing capitalism, Covid-19 and Sustainable Living Plans

Providing an update to Unilever's flagship Sustainable Living Plan as it enters its 10th and final year, chief executive Alan Jope reflects on the need to double down to protect the planet and society during the pandemic by "driving a new model of capitalism".

40% of banks are failing to develop financing and investing restrictions or exclusions on high-carbon portfolios

Barclays and HSBC blasted over £158bn fossil fuel financing

Banking giants Barclays and HSBC have been accused of financing a combined £158bn into the fossil fuel sector since the signing of the Paris Agreement in 2015, despite both organisations pledging to ramp up sustainable investment portfolios.

The move comes after months of mounting pressure from investors and climate activists. Image: Barclays

Barclays sets 2050 net-zero climate policy, covering operations and investments

British banking giant Barclays has pledged to become a net-zero business by 2050, under new a new climate policy which covers both direct operations and finance allocated externally.

Due to pressure from MPs and constituents, the pension fund publicised 20% of its holdings for the first time in 2017. Image: UK Parliament

MP's pension fund still investing in fossil fuels

MPs have yet again called for the trustees of the Parliamentary Pension Fund to divest from fossil fuel companies Royal Dutch Shell and BP, having finally integrated investment into renewables into the fund.

The new points installed at Tesco sites include 7kW media chargers capable of displaying advertising and a free to use

Triodos Bank joins Tesco in funding Pod Point's EV charging rollout

Ethical finance firm Triodos Bank has joined Tesco and Volkswagen in providing funding to Pod Point to accelerate access to electric vehicle (EV) charging points across the UK, including 600 supermarket locations.

Asset managers, corporates and the public remain largely unaware of the climate risks of their investments

Corporates and asset managers scrutinised as climate disclosure requirements take shape

As the Financial Conduct Authority (FCA) lines up new corporate disclosure measures, the Treasury Committee and NGO ShareAction have launched separate examinations of the performance of asset managers against key Environmental, Social, and Governance (ESG) metrics.

To date there have been three transition bond issuances

Cadent Gas launches UK's first 'transition bond' to spur decarbonisation

The UK's largest gas distribution network, Cadent, has agreed to the UK's first 'transition bond' which has been issued to enable heavy-carbon emitters to access funds to decarbonise.

The strategy seeks to develop “open-source, business-relevant reference scenarios” for regulators, financial firms and businesses to test climate resilience investment

'Investing for net-zero must go mainstream': COP26 finance strategy unveiled

The UK has published its COP26 strategy to help private finance support a global economic transition to net-zero emissions, with a heavy focus on exploring mandatory reporting requirements for climate-related data.

Green campaigners are seeking to embarass the Bank by highlighting "contradictions" in its climate approach.

Bank of England under pressure over board member's oil links

Environmental groups have called into question the Bank of England's commitment to tackling the climate emergency while it retains one of Britain's most senior oil company executives on its governing board.

The Group’s first-ever reference to global heating signals growing economic concerns over climate change

G20 sounds alarm over climate emergency despite US objections

The G20 group of the world's wealthiest nations have agreed for the first time to collectively sound the alarm over the threat to the financial system posed by the climate emergency.

Each of these success stories exemplifies how businesses are ramping up ambitions and actions in all areas of sustainable development 

RBS's climate goals and Aldi's plastic bag crackdown: The sustainability success stories of the week

As part of our Mission Possible campaign, edie brings you this weekly round-up of five of the best sustainability success stories of the week from across the globe.

RBS will stop all lending cases to companies that have at least 15% of their activities linked to coal 

RBS to rebrand, plans for 'climate-positive' operations by 2025

The Royal Bank of Scotland (RBS) has unveiled plans to go beyond net-zero emissions for its operations by 2025 and to at least halve the climate impact of its financial decisions and activities by 2030, as part of the organisation's rebrand to the NatWest Group.

The TCFD formed in 2015 and launched its recommendations in June 2017

'Climate risk is financial risk': TCFD surpasses 1,000 global supporters

The Task Force on Climate-related Financial Disclosures (TCFD) has revealed that more than 1,000 organisations are supporting its recommendations, including corporates with a combined market cap of $12trn and investors with $138.8trn of assets under management collectively.

The Telegraph has reported that Barclays looks set to act on shareholder calls to ditch fossil fuel investments

Reports: BlackRock and Barclays to act on climate investment calls

As reports emerge that Barclays is set to agree on shareholder calls to phase-out fossil fuel investments, BlackRock has already made strides on its stance to remove fossil fuel firms from its portfolio.

Lloyds is one of six firms to have signed all three of the commitments

Lloyds Banking Group commits to net-zero fleets and 100% renewable electricity

Lloyds Banking Group has today (6 February) joined all three of The Climate Group's business sustainability initiatives, committing to source 100% renewable electricity, reach net-zero fleets and improve energy productivity.

UK charitable foundations provide more than £4bn of funding every year 

Comic Relief among charities pledging to end fossil fuel investments

Comic Relief, Power to Change, and Guy's and St Thomas' Charity are the latest organisations that have committed to end all fossil fuel investment and adopt a new ethical approach to investing, after joining the Funder Commitment on Climate Change.

The SDG500 will focus specifically on developing nations, with a sub-focus on gender equality 

SDG500: Investors commit $500m to help developing nations achieve SDGs

A new coalition has been launched to mobilise a $500m (£380m) investment platform to help achieve the Sustainable Development Goals (SDGs) by targeting businesses operating in developing countries.

54% of chief executives do not believe that international policies are being introduced to mitigate climate change risks

Chief executives see reputational boosts in combatting climate change

Three-quarters of UK business chief executives believe that responding to the climate emergency through new business pledges and initiatives will provide a reputational advantage, with climate change climbing up the corporate agenda according to a new annual survey from PwC.

More than 3,000 business leaders, policymakers, thought leaders and celebrities are due to gather in Switzerland for the Forum this week

World Economic Forum calls on business chiefs to set net-zero targets

All business leaders and companies attending the World Economic Forum in Davos this week have been asked to make public commitments to achieving net-zero emissions by 2050 or earlier.

Johnson said Carney would help the UK to lead in mobilising businesses and investors to support a net-zero revolution  Foreign and Commonwealth Office / CC BY (https://creativecommons.org/licenses/by/2.0)”

Mark Carney announced as Boris Johnson's finance advisor for COP26

Prime Minister Boris Johnson has appointed the departing Governor for the Bank of England Mark Carney as his Finance Advisor for the COP26 climate summit, taking place in Glasgow at the end of the year.

Reports suggest that the UK won't reach its net-zero target without making the disclosure mandatory

Will 2020 be the year of mandatory climate disclosure?

Leading experts believe that it is "highly likely" that disclosing climate-related data to the Task Force on Climate-related Financial Disclosures (TCFD's) will become mandatory and have called on business professionals to start collecting and mapping data now.

The EIB says it shares the Hydrogen Council's "common goal" to further investment in decarbonising industry, energy and transport

EIB unveils plans to boost hydrogen investment

The European Investment Bank (EIB) has partnered with a coalition of C-suite executives from the transport, heavy industry and energy sectors in a bid to accelerate financing for hydrogen solutions.

UN appoints Mark Carney to help finance climate action goals

Mark Carney has been appointed as UN special envoy for climate action and finance as he prepares to step down as governor of the Bank of England in January.

The investment would help less industrialised nations reduce collective emissions by more than 4% below 2010 levels by 2030

UK urged to commit £20bn as 'fair share' of climate adaptation investment

UK thinktank IPPR has called for the UK to provide £20bn to a UN climate fund to account for the nation's "fair share" of ecological degradation and climate change speed-up.

The survey acts as a snapshot of consumers' wants and needs around the sustainability efforts of the companies they buy from. Image: ING 

In numbers: What do consumers want from sustainable businesses in 2020?

While many businesses are taking action to reduce emissions and waste, consumers now want them to go further and prioritise people and planet over growth, a new international survey has revealed.

The EIB recently pledged to cease funding for fossil fuel projects after 2021 

Europe's climate-related investments lagging, EIB warns

The European Investment Bank (EIB) has used its latest annual investment report to warn that financing for green projects across the EU is "lagging" behind levels recorded in markets such as China and the US.

Pictured: The Manhattan Finance District. Image: Paulm27/ Wikimedia Commons 

Report: World's largest asset managers failing to champion global climate goals

Some of the world's biggest asset management firms, including the likes of BlackRock, Goldman Sachs and Morgan Stanley, are collectively failing to drive alignment with the Paris Agreement in their business models and policy lobbying.

The new targets came into effect late last week. Image: BNP Paribas

BNP Paribas vows to end coal financing by 2040

Corporate bank BNP Paribas has pledged to stop all funding for thermal coal globally by 2040, with an interim target of 2030 for EU Member States.

 The World Bank is planning to raise at least $3bn (£2.3bn) through 'blue bonds'. Stock image.

'Blue finance': World Bank and Credit Suisse partner for sustainable water bond

Swiss finance giant credit Suisse has partnered with The World Bank to issue a $28.6m (£22.2m) bond aimed at financing the protection and restoration of fresh and saltwater resources and habitats.

The new policy will cut €2bn (£1.7bn) of yearly investments to fossil fuel projects

European Investment Bank to end financial support for fossil fuels by 2021

The European Investment Bank (EIB) has unveiled a new energy lending policy that will stop all financing for fossil fuel projects at the end of 2021 and unlock €1trn in sustainable development over the next decade.

BCAM is calling for banks to set clear, timebound strategies for restrictions and phase-outs for financing fossil fuels and deforestation

Superficial progress: Global banks failing to deliver time-bound climate strategies

A new report has accused the banking sector of superficial progress when it comes to climate commitments, noting that uptake in low-carbon services, green bonds and reporting standards isn't being matched by demands to decarbonise portfolios.

Due to pressure from MPs and constituents, the pension fund publicised 20% of its holdings for the first time in 2017. Image: UK Parliament

300 MPs call for Parliamentary Pension Fund to divest from fossil fuels

Trustees of the £700m Parliamentary Pension Fund have been urged to respond to the climate emergency by 300 MPs who have asked that the fund divests from holdings in fossil fuel companies such as BP and Royal Dutch Shell.

The FCA said the statement 'will provide a foundation for its future work on climate change and green finance'. Image: FCA

FCA launches new measures to tackle 'greenwash' as green finance booms

The UK's Financial Conduct Authority (FCA) has unveiled a string of new measures designed to prevent issuers from 'greenwashing', covering challenges such as climate risk reporting and the accessibility of 'green' products such as mortgages.

Total signs cleantech deal to produce hydrogen at refineries

French energy giant Total has signed a cooperation agreement with the Sunfire cleantech company to integrate capture waste heat and CO2 at a German refinery to create synthetic methanol and hydrogen to be used to reduce energy and transport emissions.

Collectively, the participating banks manage $47trn in assets. Image: Paulm27/ Wikimedia Commons

Banks representing one-third of global market to align with Paris climate targets

A coalition of 130 banks, representing one-third of the worldwide banking sector, have committed to aligning their actions with the aims of the Paris Agreement.


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