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Issuance was particularly high from the departments of national governments, and bodies set up by national governments, including the organisation tasked with rail construction in France

A boon for green bonds: Record $210bn of climate bonds certified in 2021

The Climate Bonds Initiative has revealed that it certified more than $200bn of bonds in 2021, from more than 220 issuers, marking a record high.
The EU is aiming for a 55% reduction in net emissions by 2030, and net-zero by 2050

EU delays deadline on green finance taxonomy rules for nuclear and gas

The European Commission has confirmed that it has delayed to later this month the deadline for experts to give feedback on divisive plans to allow some natural gas and nuclear energy projects to be labelled as sustainable investments.
Image: ExxonMobil

Nest divests from ExxonMobil and other 'unresponsive' fossil fuel giants on road to net-zero

UBS Asset Management and the UK's largest pension scheme, Nest, have divested from five fossil fuel firms which they say have not responded well to climate-related engagement.
HSBC has reportedly provided $87bn in financing to fossil fuel companies since 2015

HSBC's new coal exit policy 'full of loopholes', green groups claim

HSBC has outlined the first steps towards its commitment to end support for coal-fired power and thermal coal mining, but activist investors and other green groups have argued that its approach is too weak.
The EU’s €750bn Covid-19 recovery fund must dedicate at least 37% of spending to 'green' investment

EU confirms first green finance taxonomy rules, key decisions on energy still to come

The European Union has passed the first set of rules under its new green finance taxonomy, which determines which activities can be classed as "green" and which cannot. Decisions on gas and nuclear energy are yet to come, though.

How can the financial sector move faster to slow climate change?

COP-26 will be remembered as the moment when finance moved to the forefront of the fight against climate change. Political surprises - ranging from the 'phasing down' of coal to closer cooperation between the US and China - may have grabbed attention. But for the business community, it was finance that generated the headlines.
London’s overarching climate ambition is to reach net-zero by 2030

Mayor of London unveils £51m housing programme to tackle fuel poverty

The Mayor of London, Sadiq Khan, has unveiled a new £51m programme to tackle fuel poverty for households in the capital in early 2022.
Pictured: Smiths School of Enterprise and the Environment, where the Group is based. Image: Oxford University

Oxford University bags £4.5m from Ikea Foundation for sustainable finance research

Retailer Ikea's charitable foundation is allocating a £4.5m grant to the University of Oxford's Sustainable Finance Group, which is working to help the UK's financial sector align with the Paris Agreement's climate pathways.
Triodos is aiming to have it's net-zero target validated by the SBTi

Insetting and mandatory disclosure: Triodos Bank on how the finance sector can reach net-zero

Last week, Triodos Bank UK unveiled a net-zero emissions target for its loans and fund investments for 2035. To mark Net-Zero November, the bank's chief executive Bevis Watts discusses how mandatory planning and disclosure can drive the sector to invest in low-carbon and nature-based solutions.
The report was published to coincide with Transport Day at COP26

Report: New funding mechanisms needed for EVs and charging to spur low-carbon transport uptake

Vehicle and charging bundles, health certification for batteries and local authority engagement are among 18 recommendations from the Green Finance Institute in order to accelerate the uptake of electric vehicles (EVs) in the UK.
Jesus College, Cambridge (pictured) is one of the Declaration's first signatories

'COP26 Declaration': £5.9bn asset owners set out net-zero expectations

UK-based asset owners with investments of more than £5.9bn, including universities and NGOs, have called for their asset managers to align their portfolios with a 1.5C temperature pathway on the road to net-zero by 2050 at the latest and have set minimum expectations for fund managers on exclusions, divestment and engagement.'
By the Bank's own admission, its activities in 2020 were aligned with a 3.5C temperature pathway, when the Paris Agreement's pathways are 2C and 1.5C

Bank of England strengthens climate requirements for corporate bond purchases

After facing much scrutiny over the climate credentials of its Corporate Bond Purchase Scheme, the Bank of England has published a roadmap for aligning the Scheme with net-zero by 2050.
Coutts chief executive Peter Flavel spoke with edie's content director Luke Nicholls atop the Radisson Red hotel next to the SEC Centre in Glasgow

Video Coutts CEO Peter Flavel on corporate climate action and achieving a just transition at COP26

EXCLUSIVE: The chief executive of private banking and wealth management firm Coutts has told edie he is "very positive" to see so many businesses present at COP26, but that there's still "a lot to do" when it comes to advancing a just transition to net-zero economies.
Pictured: Ford's new Fiesta design, a hybrid version of the hatchback

Reports: Ford preparing to offer $1bn green bond as part of EV transition plan

The Ford Motor Company has confirmed plans to retire up to $5bn of its existing high-interest bonds, issued to help it weather the Covid-19 pandemic, and to launch its first green bonds.
The UN report finds that the costs of adaptation look set to reach the higher end of $140-$300bn each year by 2030

UN: World facing 'gathering storm' with tenfold increase needed in climate adaption finance

As world leaders champion new decarbonisation strategies at COP26, a new report from the UN has called for an urgent increase in finance that is focused on adapting to the impacts of the climate crisis, with current economic flows requiring a "step change" to protect developing countries.
edie's senior reporter Sarah delivers up a climate finance-themed episode, featuring chats with Insure Our Future UK and UK Sustainable Investment Finance (UKSIF)

COP26 Covered Podcast episode 5: Finance Day special – A make-or-break moment for the climate summit?

After a hugely important and somewhat unpredictable Finance Day at COP26, the edie team delivers up a special episode of COP26 Covered, featuring wide-ranging talks with industry leaders – from making coal uninsurable to securing top-level financial commitments to net-zero carbon. 

Video Natwest’s Rishi Madlani on financing the global net-zero transition

EXCLUSIVE: Natwest Group's head of sustainable finance has spoken to edie on Finance Day of COP26 in Glasgow, discussing the need for greater alignment between Governments, banks and regions to accelerate green business action beyond the climate talks.
Image: IFRS Foundation

'Moving the trillions': 6 things you need to know from Finance Day at COP26

With the World Leaders Summit wrapped up, the COP26 presidency programme now consists of themed days for non-state actors, as negotiations continue. Wednesday (3 November) was finance day - one of the most highly anticipated. Here, edie rounds up six key headlines from the day.
Image: HM Treasury. CC BY-NC-ND 2.0 https://www.flickr.com/photos/hmtreasury/51632672881/in/album-72157720073583763/

COP26: Rishi Sunak vows to make UK 'world's first net-zero financial centre'

Chancellor Rishi Sunak has spoken of the UK's vision to help "rewire the global financial system fir net-zero" at the inance day of COP26 outlining plans on sovereign green bonds and corporate climate disclosures. 
The Scottish Events Campus (pictured) was once again jam-packed, as the World Leaders Summit proportion of COP26 wrapped up 

7 things you need to know from Day Two of the COP26 World Leaders Summit

After scene-setting speeches from Sir David Attenborough, Barbados' Prime Minister Mia Mottley and others on Monday (1 November), Tuesday was another jam-packed day at COP26. Here, edie rounds up seven key announcements from Day Two of the World Leaders Summit.
The edie team are re-united for episode four, with interviews including senior leaders from Corporate Leaders Group, Arçelik Group, Triodos Bank and WWF-UK

COP26 Covered Podcast episode 4: Business action plans, Scope 3 conundrums and a climate finance movie night

After a sleepness night in Glasgow, the edie team bring you a jam-packed fourth episode of COP26 Covered, featuring sideline sustainability chats with business leaders, NGOs and industry groups - plus we talk climate finance a swanky uptown cocktail bar.
Pictured: World leaders convene at the Trevi Fountain, minus attendees from China and Russia, who dialled in virtually. Image: G20

G20: What was (and wasn't) agreed by world leaders on the eve of COP26

From 1.5C intentions and an end to international coal finance, to weak promises on fossil fuel subsidies, edie rounds up the green successes and failures of the G20 summit in Rome.
Image: HSBC Group

Report: $100trn needed to get global supply chains to net-zero and up to half must go to SMEs

Up to half of the estimated $100trn investment needed to get global supply chains to net-zero by 2050 will need to go to SMEs, a new analysis from HSBC and Boston Consulting Group has concluded.
Image: ColbatBlue, CC BY SA 4.0 https://en.wikipedia.org/wiki/Standard_Chartered#/media/File:Standard_Chartered_Bank.jpg

Standard Chartered sets 2030 climate goals on road to net-zero by 2050

Banking and financial services giant Standard Chartered has updated its plans for reaching net-zero financed emissions by 2050, but green groups are unimpressed that it has stopped short of ending coal support.
edie outlines what can be expected and what needs to happen at COP26

Make or Break: 5 key talking points that will determine the success of COP26

COP26 is upon us. Postponements, political unrest and climate laggards being slow to join the table has left negotiations in a precarious yet achievable position. Here, edie summarises the key discussion points that could make or break COP26.
Globally, organisations with more than $39trn of assets have either completed fossil fuel divestment or committed to doing so

Pension giant ABP to divest €15bn from fossil fuels by 2023

One of the world's largest pension funds, Dutch fund ABP, has announced plans to divest its €15bn of holdings in fossil fuel companies and projects within 18 months.
The second green gilt is a 32-year bond, maturing on 31 July 2053, making it the sovereign green bond with the longest maturity in the world

UK's second green gilt raises a further £6bn for low-carbon projects

The UK Treasury has confirmed the second sale of its green gilts package, bringing total funding for projects assisting the net-zero transition to £16bn to date.
The 2022 Forum will offer two full days of inspiring keynotes, dynamic panel sessions, interactive workshops and facilitated networking

Time to transform: edie's flagship Sustainability Leaders Forum set for awe-inspiring London return

Belu Water, Ecover, Elvis & Kresse and Zero Hour are among the disruptive brands and purpose-led campaigns set to feature at edie's biggest event of the year, which returns as a live, in-person event in February.
edie rounds up the positive initial reaction and those who have been left wanting more urgency

A substantial step forward, or huge letdown? The green economy reacts to the Net-Zero Strategy

The UK's Net-Zero Strategy is finally here, but the reaction to the nation's blueprint to decarbonisation ranges from those believing it provides much-needed clarity for business to others claiming it does nowhere near enough to drive all parts of the economy to net-zero by 2050.
Image: HM Treausury Flickr

Greening Finance: Treasury outlines major sustainability disclosures plan to crack down on greenwashing

HM Treasury has released details on a package of new sustainability-related disclosure requirements, designed to tackle greenwashing in the financial space and encourage corporates to front-load their transitions to net-zero.
Many nations are using green bonds as part of their Covid-19 recovery packages, with France, Germany and the UK having already issued sizeable packages 

EU launches world's largest green bond issuance to date

The European Commission has issued €12 bb worth of green bonds on financial markets to finance the green parts of its €800bn coronavirus recovery fund. This represents the world's largest green bond issuance to date.
Ahead of COP26 Sunak has called on other G7 nations to support the IMF’s proposed Resilience and Sustainability Trust

G7 to explore carbon pricing and green finance for developing nations

G7 Finance Ministers have agreed on a new set of principles aimed at improving global supply chain resiliency and backing a new initiative from the International Monetary Fund (IMF) aimed at helping developing countries boost green economic opportunities.
NatWest Group was formerly RBS, and has cited an increase in environmental ambitions as a key driver of its rebrand

NatWest promises £100bn for climate and sustainability by 2025, with SME focus

Banking giant NatWest Group has pledged to provide £100bn of climate and sustainable funding and financing by the end of 2025, after surpassing its previous ambition in this field.
G20 leaders are meeting in Rome on October 30-31, ahead of COP26

Finance giants to G20 leaders: Close policy loopholes to end financing for activities that will derail net-zero

An alliance of finance giants collectively representing $90trn in assets is urging G20 nations to end fossil fuel subsidies, bolster carbon pricing and introduce new climate mandates for businesses, to ensure long-term net-zero pledges are credible.
71% of the UK's pensions sector is equivalent to some £2trn

Only 3 in 10 major UK pension schemes have credible net-zero plans

The Make My Money Matter Campaign has released research concluding that 71% of the UK's largest pension schemes do not yet have credible plans for reaching net-zero - a proportion representing more than £2trn.

HSBC sets 2050 net-zero financed emissions target for £36bn UK pension scheme

One of the largest corporate pension schemes in the UK has set a 2050 net-zero financed emissions targets, with an interim aim to halve emissions by 2030.
Late last week, the TNFD named 30 new additions to help develop the framework

Banking giants join Taskforce on Nature-related Financial Disclosures framework development

Senior figures from global banking giants including BlackRock, HSBC and Bank of America have been selected to help shape a new global framework on nature-related corporate disclosure.
Pension funds, like other players in the finance sector, have been urged to provide clarity on their climate action plans before COP26

Avon, Phoenix Group and TfL: Pension schemes covering billions bolster net-zero ambitions

The £10.6bn Transport for London (TfL) pension fund, £4.5bn Avon Pension Fund, and Phoenix Group, which manages £250bn of investments, have all set interim ambitions to reduce financed emissions on the road to net-zero.
Pictured: Eastbourne

Five UK councils commit to launching green bonds

The Green Finance Institute (GFI) has announced the first five councils to sign on to its Local Climate Bond campaign, which commits members to developing green bond issuance plans within 18 months.
The bond comes a month after Walmart finalised its internal green finance framework 

Walmart raises $2bn through first green bond

US-based retail giant Walmart has announced the closing of its inaugural green bond issuance, raising $2bn for initiatives that will decrease emissions and resource use, increase resource efficiency and conserve nature.
The paper are for the UK government to raise the minimum threshold for Energy Performance Certificate (EPC) ratings required to lease or sell a property

UK's retrofit industry must grow by ten times to play role in reaching net-zero

The UK's retrofitting industry needs to grow by ten times its current size if the UK is to decarbonise its housing stock at a pace suitable for the wider net-zero emissions target, new research has revealed.
Collectively, Paris Aligned Asset Owners now represent more than $2.35trn in assets 

Major UK pension funds among latest investors to join global net-zero commitment

Tesco Pension Investment, the London Pensions Fund Authority and Railpen are among 12 asset owners to have this week joined a global collaboration designed to spur the transition to net-zero-aligned investing.

UK's first sovereign green bond package raises £10bn

The UK Government has today (21 September) launched its first green gilt, with reports that investors have placed a record £90bn in orders for the bond.
The new Initiative will report annually on its progress 

Investment consultants advising $10trn of assets launch new net-zero initiative

A dozen investment consulting firms, collectively responsible for advising asset owners and managers worth $10trn, have launched a new global initiative aimed at accelerating the net-zero transition.
Oxfam states that developing nations could miss out on up to £57bn over a six-year period

Wealthy nations still well short of $100bn climate finance promise

Wealthy nations are failing to address a finance gap on the long-standing pledge to mobilise $100bn (£72.5bn) annually to help developing nations adapt to the climate crisis, according to new research from Oxfam which found that up to £57bn may not be delivered across a six-year period.
The MPs are warning that the Bank is failing to consider the impacts that biodiversity loss and the climate crisis will have on financial stability

MPs call on Bank of England to improve green finance approaches

MPs across all political parties have jointly written to the Bank of England, warning that it is failing to appropriately support the green economy by not pivoting away from the fossil fuel industry.
Each report in the five-part series provides a much-needed progress update across the five key areas of the COP26 climate talks

COP26 Primer reports: edie completes series with Adaptation & Resilience focus

With just two months remaining until the crucial COP26 climate summit in Glasgow, edie has completed its Primer Report series which provides businesses with everything they need to know regarding the five key themes of the talks.
Social sustainability bond issuance saw a steeper year-on-year increase than issuance of green and sustainability bonds 

Global green bond market set to break records, surpassing $500bn in 2021

Global green bond issuance is likely to pass the half-a-trillion-dollar mark this year, the Climate Bonds Initiative is forecasting, following a strong first half of the year for the market.
Image: HM Treasury 

UK and India agree $1.2bn package supporting renewable energy, sustainable infrastructure and tech

With less than two months to go until COP26, the UK and Indian governments have agreed upon a new $1.2bn (£900,000) package of funding designed to accelerate the low-carbon transition.
Pictured: An artist's impression of the Tengah Garden Walk project. Image: Singapore Housing & Development Board

CDL and MCL Land secure $847m green loan package to build 1,000+ sustainable homes

Property giants City Developments Limited (CDL) and MCL Land have secured an $847m green loan package, which will be used to support a joint venture developing two sustainable housing developments in Singapore.
Image: Wood Group

UK Government issues first 'green transition loan' for business

The UK Government has issued its first state-backed 'green transition loan' for a business, providing engineering and energy consultancy Wood Group support to scale up low-carbon product and service offerings.
Renewable energy and green offices have accounted for 72% of the bond proceed spending to date

Google owner outlines how it is spending proceeds from world's largest corporate sustainability bond

August 2020 saw Google's parent company Alphabet Inc issuing what it claimed was the largest corporate sustainability bond in history. It has now revealed how it has spent 61% of the $5.75bn (£4.4bn) proceeds.
Image: RSK Polska

RSK Group signs for £1bn sustainability-linked loan

The UK's largest provider of environmental, engineering and technical services, RSK Group, has signed for a £1bn loan with interest rates tied to its progress against key sustainability targets.
Howard Boyd will help oversee the GFI’s work in the build-up to the COP26 climate summit this November in Glasgow

Emma Howard Boyd confirmed as interim chair of Green Finance Institute

The Green Finance Institute (GFI) has announced that the Environment Agency's chair Emma Howard Boyd CBE has been appointed as interim chair at the institute, following the passing of Sir Roger Gifford in May.
Scottish Widows research found that 56% of defined benefit (DB) pension savers would consider investing their pension funds in clean, fossil fuel-free energy

Scottish Widows 'reboots' £250m environment fund to screen against fossil fuels

Scottish Widows has launched a 'rebooted' Environmental Fund that will give six million customers the chance to invest in "great green" British businesses, while screening against exposure to fossil fuels.
The research warns that agriculture is lagging behind, with just 0.1% of its annual $8trn going into circular initiatives

Circular economy attracting $1.3trn in annual investments, but dwarfed by linear spending models

Governments, investors and corporates collectively funnel more than $1.3trn annually into circular economy initiatives, but this is just a fraction of the money that is currently spent on linear methods of consumption and resource use.

#SustyTalk: Kingfisher's Caroline Laurie on business, biodiversity and green finance

edie's #SustyTalk interview series continues with an exclusive discussion Kingfisher's head of responsible business and sustainability Caroline Laurie.

Making profit shouldn't cost the earth

With companies seeking to become more sustainable, the age-old conflict of prioritising profit against the interests of people and planet seems to be dissolving. But transitioning to an environmentally friendly business model can be costly, which may deter businesses, especially smaller ones.

The UK's pensions sector covers some £3trn of investment and while large schemes are required to measure and disclose climate risks, net-zero transition plans are not yet mandatory

Net-zero investment portfolios promised by 14 major UK pension funds

The chairs of corporate pension funds including Tesco, Unilever, BT and Pennon are among the signatories of a new commitment to halve portfolio emissions by 2030 and bring them to net-zero by 2050.
The day's events were chaired by Richard Howitt, senior associate at Frank Bold LLP and former chief executive of the International Integrated Reporting Council

Could making ESG more 'financially relevant' combat greenwashing?

At the first day of edie's Sustainable Investment Conference, expert speakers from EY, JP Morgan, Credit Suisse and Citi debated how the definition of leadership in relation to ESG investing is evolving. Here, we round up their key talking points.
Pictured: The Talinay wind park in Chile. Image: Enel

'World's largest' sustainability-linked bond issue from Enel three times oversubscribed

Italian energy major Enel has revealed that it received orders of some $12bn for its sustainability-linked bond - three times more than its $4bn price point.

#SustyTalk: Green Angel Syndicate CEO Nick Lyth on maximising the sustainable investment opportunity

edie's #SustyTalk interview series continues with an exclusive discussion with Green Angel Syndicate founder and chief executive Nick Lyth.
All edie podcast episodes can be listened to via iTunes, Spotify and Soundcloud

Sustainable Business Covered podcast: Spotlight on green finance, ESG and the TCFD

With edie's Sustainable Investment Conference less than two weeks away, episode 104 of the Sustainable Business Covered Podcast explores an array of green investment topics with UKSIF, ING and Inspired Energy.

#SustyTalk: Ashden's Harriet Lamb on scaling international climate finance

edie's #SustyTalk interview series continues with an exclusive discussion with Ashden's chief executive officer, Harriet Lamb, focusing on climate solutions.

Building the skills to make every financial decision a climate decision

Climate change is one of the defining issues of our time. It presents significant financial risks to business and society, but also offers opportunities for those willing to lead the transition to a sustainable, low carbon world.

A Green Savings Bond offered by National Savings and Investments (NS&I) will also help fund green projects

Chancellor Rishi Sunak issues £15bn green gilt drive to assist net-zero ambition

Chancellor of the Exchequer Rishi Sunak has today (1 July) outlined plans to transform the UK’s financial services industry through £15bn of green bonds that will support projects that decarbonise key parts of the UK economy while improving climate resiliency and adaptation.
Investors for a Just Transition is France-based at present, with an international launch planned at COP26 in November

Investors worth €3.6trn collaborate to promote just transition to net-zero

AXA, Aviva France and Eiffel are among the members of a new coalition of investors convened to promote a just low-carbon transition across Europe. Collectively, members represent €3.6trn of assets under management.

#SustyTalk: Seizing the green finance opportunities of 2021

edie's #SustyTalk interview series continues with an exclusive panel discussion on scaling green finance in the run-up to COP26, featuring experts from Clim8, E3G and FIA EPTA. 
This report, sponsored by UL, examines how crucial green finance is in driving the net-zero transition and overcoming the climate crisis

edie's latest COP26 Primer report focuses on climate finance

As part of the brand-new Countdown to COP26 Festival of digital content and events, edie has this week launched its latest "Primer Report" which provides need-to-know insights into the key themes of this year's crucial climate talks. Up next: Climate Finance.

COP26 Primer: Climate Finance

edie’s COP26 Primer Reports are about seizing the green opportunity. Produced in the run-up to the official talks, this mini-series of reports are based on the five key themes of COP26: Clean Energy, Clean Transport, Climate Resilience, Nature-Based Solutions, and Climate Finance.
Priority areas for spending include energy, agriculture, food, water and land, cities, transport and manufacturing

World Bank increases climate finance for developing nations

The World Bank Group has issued a new spending plan through to 2025 that will ensure that an average of 35% of total spending is focused on climate adaptation and decarbonisation in developing countries.
The Aldersgate Group represents dozens of the UK's biggest businesses and trade groups

Net-zero, Brexit and Covid-19: Businesses say now is perfect time to 'green' UK's financial system

The UK government is being urged to ensure that its ongoing review of financial services regulations properly accounts for the scale of the twin climate and nature crises by influential business coalition the Aldersgate Group.

Aldi's plastic-free tea and a £61.5bn net-zero pension pledge: 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.
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 main G7 Summit will take place between 11-13 June in Carbis Bay, Cornwall, with business meetings on day one

Green finance tools and net-zero sector coalitions: CEOs present climate initiatives to world leaders at G7

EY, HSBC and Heathrow Airport are among the 300 businesses presenting three new solutions to help the private sector play its role in tackling the climate crisis to G7 leaders on Friday (11 June).
Pictured: Chancellor Rishi Sunak at the recent G7 Finance Ministers' Meeting. Image: HM Treasury, CC BY-NC-ND 2.0 (https://www.flickr.com/photos/hmtreasury/51224385548/)

UK Government launches new taskforce to tackle greenwashing in finance sector

The UK Government is set to launch a new advisory group tasked with creating a 'green taxonomy' for finance, in a bid to crack down on greenwashing in the investment space.
Image: George Rex, CC BY SA (https://www.flickr.com/photos/rogersg/22573356606)

Bank of England's 'fiendishly complicated' climate stress tests launched for financial sector

The Bank of England has released new information on the requirements of its upcoming climate stress tests, which will require large banks and insurers to measure and disclose climate-related risks.
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.
Kingfisher is already working with partners including the Forest Stewardship Council, British Retail Consortium and the Rainforest Alliance to deliver its updated sustainability and community goals

Kingfisher enters £550m sustainability and community-linked loan

Screwfix and B&Q's parent firm Kingfisher has signed for a £550m revolving credit facility agreement (RCF) with interest rates linked to environmental and community targets.
Pictured: Kingspan workers at the V&A Museum, Dundee. Image: Kingspan

Kingspan signs for €700m sustainability-linked loan

Building materials and design giant Kingspan has signed for a new €700m revolving credit facility with interest rates linked to environmental targets.
Certain firms will be required to disclose in line with TCFD recommendations in the UK from 2022, but investors are arguing the case for a joined-up global approach 

Give us sector-specific guidance on net-zero transition, investment giants tell G7 nations

A group of investors with £8.5trn of assets under management has called on G7 nations to introduce new climate disclosure and action mandates for big businesses - and to provide more detail on how their long-term climate goals will be delivered.
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.
American and Chinese firms fared worse than their European counterparts, but no firm received one of the top two grades overall 

'Concerning for shareholders': World's biggest insurers failing to tackle ESG risks

A new ranking of the world's 70 largest insurance firms has found that none exclude companies driving biodiversity loss and just 13% exclude firms knowingly in breach of human and labour rights requirements.
The report reveals the extent of strings-free financing to high-emitting sectors, often in misalignment with the Paris Agreement or with banks and investors' own climate commitments

WWF: UK banks and investors financing projects with double nation's climate impact

UK banks and asset managers collectively financed projects emitting 805 million tonnes of greenhouse gases in 2019 - around twice the UK's annual national carbon footprint.
Taking place on Thursday 20 May, the Countdown to COP26 event features speed networking and panel discussions with an array of sustainability and climate leaders

Taking place today: Last chance to register for edie's flagship Countdown to COP26 event

The UK Cabinet Office's director of partnerships and engagement Matt Toombs has joined the likes of WBCSD director Claire O'Neill and O2's head of corporate responsibility and sustainability Tracey Herald among the headline speakers at edie's Countdown to COP26 virtual event Thursday (20 May). 
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.
The latest RECAI warns that future renewables deployment will require a further $5.2trn of investment

UK climbs energy investment rankings, but concerns persist over green finance availability

The UK has climbed one position to fourth in the rankings for EY's national attractiveness of renewable energy investment, but the organisation has warned that global green finance efforts need to improve considerably to meet clean energy demand for existing climate commitments.
The UK's pensions sector covers some £3trn of investment

Ikea and BrewDog among backers of new green pensions commitment

A string of 50 major businesses, NGOs and trade bodies have pledged to ensure their pension plans are 'green' this year, and are urging others to follow suit.
Image: Amazon

Amazon launches inaugural sustainability bond, priced at $1bn

E-commerce giant Amazon has issued a $1bn sustainability-focussed bond, with funds raised set to assist the delivery of the firm's low-carbon and social sustainability targets.
Transport is the UK's most emitting sector 

Road to net-zero: UK business giants team up to accelerate investment in low-carbon transport

Uber and Lloyds Banking Group are among the founding members of a new business coalition working to unlock investment into low-carbon road transport systems.

#SustyTalk​: Counting down to COP26 with green finance expert Sir Roger Gifford

With COP26 less than six months away, edie has launched a new series of videos with high-level speakers, designed to inspire and empower your preparations for the conference. First up, Green Finance Institute chair Sir Roger Gifford.
The analysis comes after the recent 'tax day' provided few climate-related announcements

Report: Just 6% of UK's tax revenue is 'green'

The share of UK tax revenue directly raised from supporting businesses and individuals to reduce their environmental footprint was just 6% in 2020, new analysis has revealed, as the Treasury faces mounting pressure to align with net-zero.
The sustainability targets cover Natura & Co's four brands: Avon, Natura, The Body Shop and Aesop.

The Body Shop owner raises $1bn for first sustainability bond

Natura & Co, the parent company of the Body Shop and Avon, has issued what it claims is Latin America's largest sustainability bond to date, priced at $1bn.
Of the businesses that do report on financed emissions, most disclose less than half of their overall impact

CDP: Three-quarters of finance giants not disclosing climate impacts of portfolios

The average finance firm’s financed emissions will be 700 times higher than those of their direct operations- but just one in four companies are measuring and disclosing them.
After this year's Budget and the first 'Tax Day', further announcements are due in the second half of the year

MPs accuse Treasury and HMRC of shirking climate responsibilities

The Treasury and HMRC are failing to respond to a "climate storm breaking all around us", failing to make the necessary changes to tax systems and short-term funding packages needed for the 'just' transition to net-zero.
The report is published to mark Earth Day, with the final publications due later this year 

Treasury could mandate UK financial firms to add climate labels to products

HM Treasury has today (22 April) published the results of its two-year review on how the financial system must change to support the net-zero transition, recommending changes to tackle greenwash, empower consumers and properly prepare government departments for future costs.
Citi and HSBC, pictured here at Canary Wharf, are among the banks being called upon by the investors

Ditch fossil fuel finance, $11trn investor coalition tells big banks

A coalition of 35 major investors with $11trn of assets under management collectively are calling on banks to "enhance" their climate targets, backing up long-term visions with action in the short-term.
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.
Investors are facing mounting pressure to raise climate ambitions, including from changing legislation on net-zero

CISL calls for standardised climate disclosure framework for investors

While most investors are measuring and disclosing their climate performance, it is hard to compare progress between companies because there is not a universal framework. This makes it more challenging for investors to be held to account or to accelerate progress.
 The partnership believes it can raise $1bn initially

Additional $600m for low-carbon solutions as BlackRock forms new investment partnership

The world's largest investor, BlackRock, has forged a new partnership with Singapore-based Temasek to scale up investment in low-carbon technologies.

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