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.