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.
America's Pledge and Europe's Green Deal: What happened on days 8 & 9 of COP25?
COP25 - the UN's annual two-week-long climate summit - has entered its second week in Madrid. Here, edie rounds up all the key news and views from the last few days of the event.
Available to watch on demand: edie's TCFD webinar with Landsec, Avara Foods and CDSB
Experts from Avara Foods, Landsec and the Climate Disclosure Standards Board (CDSB) discussed how businesses should interact with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFDs) to improve sustainability, as part of a webinar that is now available to watch on-demand.
EU reaches milestone by agreeing on green criteria for finance
MEPs and the Finnish presidency of the EU Council have agreed on a taxonomy to determine what economic activities can be considered 'green', paving the way for billions of euros to be invested to fight climate change.
Report: Coal 'becoming uninsurable' as cover withdrawal doubles
The number of insurance firms withdrawing cover for coal companies and assets has more than doubled between 2018 and 2019, a new report has revealed.
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.
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.
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.
'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.
Credit Suisse unveils SDG-aligned consumer fund to accelerate circular economy shift
Swiss investment bank Credit Suisse has launched a consumer fund aimed at spurring progress towards the targets of Sustainable Development Goal (SDG) 12: Responsible Production and Consumption, as consumer demands for green finance grow.
Apple almost doubles green bond offers after £1.7bn fund launch
Apple has issued a new £1.7bn ($2.2bn) green bond offering, nearly doubling its total green bond issuance to almost £3.9bn ($5bn).
Prince Charles: Banks are crucial to 'cracking' the climate crisis
Prince Charles has urged financial institutions to develop a "real understanding" of the influence they have to bring about a net-zero, resource-efficient economy, arguing that the sector has been "closed-minded" and slow to react in the past.
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.
'Draw up climate rules or have them imposed', Bank of England tells corporates
The governor of the Bank of England has warned major corporations that they have two years to agree rules for reporting climate risks before global regulators devise their own and make them compulsory.
PepsiCo prices $1bn green bond to assist with plastics phase-out
PepsiCo has priced its first ever green bond at $1bn, which will be used to fund initiatives to reduce plastic content in packaging, improve supply chain engagement and management and boost water stewardship.
BlackRock launches its first dedicated circular economy investment fund
The world's largest asset management firm, BlackRock, has launched its first investment fund dedicated to accelerating the global development of a circular economy.
Report: Less than half of global banks have sustainable energy finance commitments
Just 23 of the world's largest 50 banks have outlined commitments to invest more in renewable energy and less in fossil fuels, a new report from the World Resources Institute (WRI) has concluded.
Investor pressure slowly pushing firms to set net-zero targets
An investor group overseeing more than $35trn in assets has seen positive responses from corporates on calls to cut net emissions to zero by 2050, despite the group's first progress report finding that just 9% of the companies it has focused on have set targets aligned with a 2C warming.
Survey: Two-thirds of UK public want their investments aligned with the SDGs
A new Government-led study on financing the progress towards the UN's Sustainable Development Goals (SDGs) has found that more than two-thirds of UK investors want their portfolios to solely support projects driving progress against the 17-Goal agenda.
UK banks 'pouring billions into fossil fuels and deforestation', despite green pledges
UK banks have allocated almost £150bn of funding for fossil fuel projects since the start of 2016 and continue to collectively hold 146 investment pots in firms driving significant levels of rainforest deforestation.
EU Council maintains nuclear as eligible for 'green' finance
EU ministers have decided not to exclude nuclear projects from being eligible for sustainable finance grants, despite the demands of a group of member states and the European Parliament.
Boris Johnson unveils £1bn climate aid fund and forest restoration push
UK Prime Minister Boris Johnson has announced a £1bn fund to aid developing nations in transitioning to a low-carbon economy and tackling climate change, alongside a fresh new push to halt deforestation.
Wall Street investment giants 'voting against key climate resolutions'
Some of Wall Street's largest asset management companies are failing to live up to commitments to use their voting power to fight the climate crisis, according to a new report.
E.ON's green bonds and Dundee's solar car park: 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.
Reports: Sustainable finance 'growing rapidly' in Europe
Europe's sustainable finance market experienced "rapid" growth during the first half of 2019, despite a challenging end to 2018, new analyses have concluded this week.
EIB plans to cut all funding for fossil fuel projects by 2020
The European Investment Bank (EIB) has vowed to end its multibillion-euro financing for fossil fuel projects by the end of next year in order to align its strategy with climate targets.
HSBC: Investment in sustainability becoming mainstream for UK businesses
Against a backdrop of new green legislation and increasing consumer demand for low-carbon, resource-efficient products and services, almost half of UK businesses are planning to up their sustainability-related investments over the next two years.
UN launches Green Finance Platform to improve banks and business interactions
The UN's Green Growth Knowledge Platform (GGKP) has launched two new platforms to improve the dialogue and actions between the finance sector and businesses in order to accelerate the growth of green finance.
UK Government provides £250m climate aid package for Africa
The UK Government has announced its largest single direct climate investment in Africa, after pledging to provide a £250m aid package to help the continent improve climate resilience.
'World's first' climate-based government bond index launched in London
Global index and analytics giant FTSE Russell has launched a new bond index which weights products on how prepared their respective governments are to mitigate and adapt to climate impacts.
Sustainable Business Covered podcast: The London Climate Action Week relay
Episode 67 of the Sustainable Business Covered podcast sees the edie team travel to numerous events during London Climate Action Week, securing exclusive interviews with the Green Finance Institute, Microsoft, the Green Alliance and more.
UK to put climate crisis and environment at the heart of overseas aid
The UK will have an "ethical" development policy that puts the climate emergency and environmental protection at the heart of overseas aid, with more than £190m to be spent directly on climate-related issues in the first initiative, the Government has announced.
Royal institutions divest from fossil fuels, encourage others to follow suit
To mark London Climate Action Week, the Royal College of Emergency Medicine (RCEM) and the Royal Society of Arts have sold all remaining shares in fossil fuel companies.
What does the Green Finance Strategy mean for business?
Following the launch of the UK Government's Green Finance Strategy, the chief executive of the Green Finance Institute has outlined how climate disclosure, policy signals and a robust business case for sustainability will transform how corporates engage with the finance community.
HSBC to support UK businesses with green finance offerings
One day after the Government launched its Green Finance Strategy, banking giant HSBC has launched a new range of green finance services aimed at helping businesses of all sizes strengthen sustainability initiatives.
Eight reasons why green finance is becoming mainstream
Halfway through London Climate Action Week and it seems that sustainable finance is the hot topic. Here, edie explores the key drivers behind why green finance is growing from a niche interest to a business-critical concern.
IPCC chair: Global transition to net-zero 'not a burden' to the economy
The chair of the Intergovernmental Panel on Climate Change (IPCC), Dr Hoesung Lee, has dismissed fears from investors and nations that reaching net-zero emissions will place too much strain on the global economy.
UK unveils Green Finance Strategy to drive progress towards net-zero goal
The UK Government has unveiled its highly anticipated Green Finance Strategy, outlining how the finance sector and better climate disclosure from corporates can drive progress towards wider action on climate change and the push towards net-zero emissions.
Banking giants commit to align maritime shipping investments with climate goals
A group of 11 big-name banks have pledged to align their investments in the shipping sector with the International Maritime Organisation's (IMO) goal of halving emissions by 2050, against a 2008 baseline.
MPs call for halt on support for fossil fuels in developing nations
Of the £2.6bn which the UK's export credit agency spent supporting energy exports abroad between 2013 and 2018, 96% was funnelled into fossil fuel projects, mostly in developing nations.
Michael Bloomberg announces $500m campaign to end US coal generation
Billionaire businessman and philanthropist Michael Bloomberg has announced a $500m investment aimed at fighting climate change by ending coal-fired electricity generation in the US.
MPs examine how Treasury and finance sector can help decarbonise UK economy
MPs on the Treasury Committee have launched an inquiry scrutinising the climate impacts of the Treasury and the financial services sector, with the aim of determining how these actors can change their ways in order to spur decarbonisation progress ahead of the fourth and fifth carbon budgets.
CDP: Climate risks could cost corporates $1trn, with biggest losses before 2025
A group of 215 of the largest companies in the world risk collectively losing up to $1trn to climate impacts, with most of this risk set to hit within the next five years, new research from CDP has found.
Co-op issues £300m bond supporting Fairtrade movement
Retailer Co-op's parent organisation Co-op Group has raised a £300m green bond which will be used to support the Fairtrade movement's bid for more sustainable farming supply chains.
How SDG alignment helped Tideway engage key investors
EXCLUSIVE: Several companies to have aligned their strategies with the UN's Sustainable Development Goals (SDGs) have claimed that doing so has improved communications and created a more joined-up approach - but for Tideway, a further benefit has been gaining investor buy-in.
The Big Brexit Questions podcast: What next for green finance in the UK?
In the wake of Prime Minister Theresa May's decision to delay the deadline to organise a departure from the European Union, edie's new podcast mini-series explores the impact of Brexit on key areas of the UK's green economy. Up next: Green finance.
Three-quarters of UK FTSE All-Share firms 'highly dependent' on natural capital
Almost three-quarters (74%) of UK businesses listed on the FTSE All-Share Index have been dubbed "potentially highly dependent" on natural resources such as clean air, water and soil in a new study on nature-related business risks.
Walmart partners with HSBC to launch green finance programme for suppliers
As part of a partnership with HSBC, US-based retail giant Walmart has developed a green finance initiative that rewards suppliers for setting, meeting or exceeding ambitious sustainability aims.
Coalition of central banks urge finance sector to 'raise the bar' on climate action
A coalition of 36 central banks and regulators, including the Bank of England and the World Bank, have issued a rallying cry urging all stakeholders across the global sector to address climate challenges by "greening" the financial system.
We Mean Business boss: Companies must 'embed' ESG to survive low-carbon transition
EXCLUSIVE: In the face of pressing climate challenges, the business and finance sectors must now collaborate to ensure that environmental, social and governance (ESG) issues are embedded in all financial decisions to spur the creation of a zero-carbon economy.
Yorkshire Water launches sustainability bond
Yorkshire Water has launched its first sustainability bond in a bid to raise £350m from investors.
SDGs becoming a 'new compass' for sustainable investing, survey finds
More than half of institutional investors to have incorporated environmental, social and corporate governance (ESG) issues into their frameworks are using the UN's Sustainable Development Goals (SDGs) as a guideline, a new survey has found.
'The £1bn challenge': Natural capital investment project launched in Scotland
The Scottish Environment Protection Agency (SEPA) and the Scottish Wildlife Trust have teamed up to launch a new project aiming to attract £1bn of investment in protecting the nation's natural capital.
Reports: Policy support for climate adaptation investments 'insufficient'
Insufficient policy support has left investors and lenders across the world struggling to identify, measure and adapt to climate challenges relevant to their portfolios, a pair of new reports have found.
UK Government urged to increase engagement with the SDGs
The CBI and International Chamber of Commerce (ICC) have called on the UK Government to create "clear definitions" and communication plans to act on the UN Sustainable Development Goals (SDGs), using access to green finance to mobilise private sector action.
Sustainable investing is finally 'going mainstream', BlackRock claims
As concerns that the next financial crash may be climate-related grow, impact investment and green finance products are "going mainstream" and ceasing to be classed as a "niche" area, global investment management firm BlackRock has claimed.
Major utilities team up to launch sustainable finance hub for European businesses
Utility giants EDF, SSE and Ørsted are among the 16 companies which have co-founded a new forum aimed at helping Europe's business community champion sustainable finance and impact investing.
European Investment Bank to face legal action over biomass loan
The world's largest multilateral finance firm is set to be taken to the European Union's highest court later this year, after green campaigners argued its decision to loan €60m (£53m) to developers building a biomass facility in Spain.
Reflections from COP24
It's was an interesting week at what was perhaps the most important UN conference since the Paris 2015 deal.
Banking giants pledge to align investment portfolios with Paris Agreement
BBVA, BNP Paribas, Standard Chartered and Société Générale have pledged to measure the climate-related impacts of their lending portfolios and assist companies they invest in with aligning their respective sustainability strategies with the Paris Agreement goals.
How ING achieved boardroom buy-in to launch its second green bond
EXCLUSIVE: Banking giant ING was able to launch its second green bond earlier this month due to its past experience in structuring external green bonds for sustainability-conscious clients, the firm's global head of sustainable finance Leonie Schreve has claimed.
Report: Just 5% of UK pension funds possess a climate change policy
Just 5% of the UK's largest pension fund managers have a specific policy on climate change in place, despite almost three-quarters (74%) claiming to acknowledge the risks that climate challenges pose to the finance sector.
Government snubs MPs' calls for mandatory climate-risk reporting
Ministers have rejected recommendations from MPs to introduce mandatory climate-related financial disclosures for large firms and asset owners.
Autumn Budget 2018: Live green economy reaction
After Chancellor Philip Hammond opened his red budget box to detail a tax on plastics and a carbon price freeze, edie rounds up what key green economy leaders are making of the new financial measures for low-carbon innovations and resource efficiency.
Abundance Investment targets new shareholders to accelerate green project financing
Peer-to-peer finance platform Abundance Investment looks set to accelerate demand for environmental and social projects across the UK, by increasing its number of small shareholders 10-fold.
UN pledges $1bn investment to drive climate action in developing nations
Members of the UN’s Green Climate Fund (GCF) have this week approved more than $1bn of funding for 19 projects supporting climate action in developing countries.
Clean Growth Fund spearheads Government's green finance commitments
As part of Green GB Week, the UK Government has announced a new £40m venture capital fund to help bring innovative clean technologies to market.
London slides down rankings for global green finance leaders
London has dropped from first to third place in a global ranking of the world's "greenest" financial centres, with ties to “legacy assets” focusing on “non-green” financial offerings impacting its score.
UBS: UK investors 'more cautious' on sustainable finance than global peers
A new report from UBS has found that UK investors have been more cautious to integrate sustainable financial products into their portfolios, largely due to the uncertainties of Brexit.
ING to align £450bn investment portfolio with Paris Agreement goals
ING has revealed that it will work with the companies covered by its £456m ($600bn) green investment portfolio to help align their respective sustainability strategies with the aims of the Paris Agreement.
Fresh warnings over lack of climate action across finance sector
The reinsurance and pension fund sectors are failing to progress the finance sector towards key climate goals by continuing to invest in coal projects over low-carbon alternatives, two reports have claimed.
City of London Corporation invests £2m in UK's Green Finance Institute
The City of London Corporation has pledged to invest £2m in the UK's new Green Finance Institute once the new body launches next year.
UK's ethical investment market to reach £48bn by 2027
An increased focus on sustainability within the UK's investment community will result in the national socially responsible investing (SRI) market growing by 173% by 2027 to reach £48bn.
The World Bank to launch world's first sustainable water bond
The World Bank has revealed plans to launch the world's first series of bonds aimed at advancing water and ocean stewardship and has priced the first bond at SEK1bn (£85m).
SSE issues second green bond to fund renewable sector
SSE has issued a second green bond worth €650m, confirming the big six supplier as the largest issuer of green bonds from the UK corporate sector.
Report: Global green finance levels insufficient to underpin SDGs
Despite strong growth in the green finance market in recent times, the current global economic system will not be able to underpin the level of public and private financing needed to meet the United Nations' (UN) Sustainable Development Goals (SDGs).
How the TCFD recommendations are reshaping Moody's CSR efforts
EXCLUSIVE: Moody's Corporation's global head of CSR Arlene Isaacs-Lowe believes that adopting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) has enabled the company to become green finance "standard-setters" and champion the benefits of transparency to the wider industry.
Finance firms 'slowest' TCFD signatories to report climate impacts
Financial services firms that have committed to the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations tend to be less transparent in disclosing their climate impacts than TCFD signatories from other industries, a new study has revealed.
Taking the measure of sustainability
Managing what you measure remains as true a maxim as ever in the world of sustainability, especially given the additional impetus provided to governments, businesses and civil society by the UN's Sustainable Development Goals (SDGs). However, measuring progress on sustainability - whether for businesses or cities - is a complex task.