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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.

C&S is calling for more standardised reporting requirements to streamline the process for corporates

ESG disclosure 'firmly in the mainstream' for corporate reporting

New analysis of global reporting frameworks and requirements for corporate sustainability has found that environmental, social and governance (ESG) disclosure is becoming a crucial aspect of corporate transparency.

Pictured: Refinitiv's head office in Canary Wharf. Image: Kontors Bygnadd, CC BY 0.0 https://www.piqsels.com/sv/search?q=%23kontorsbyggnad

Refinitiv unveils new SDG-aligned sustainability strategy, including 1.5C science-based targets

After meeting its 2020 ambition of becoming carbon-neutral, Refinitiv has launched a new strategy through to 2030, centred around the UN Sustainable Development Goals (SDGs) and headlined by 1.5C-aligned emissions reduction targets.

Investors are becoming increasingly vocal on the need for a green recovery from the pandemic that does not lock in fossil fuels to the future economy

Investors worth €11trn call for European green recovery from Covid-19 pandemic

More than 100 investors have written to European business and finance leaders, calling on them to ensure the delivering of the bloc-wide Green Deal and deliver a green recovery from the coronavirus pandemic.

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.

Mission Possible: The 2020 report

This exclusive edie report explores how a green recovery from Covid-19 can be achieved across six of the UK's biggest industries: Utilities, Manufacturing, Construction, Retail, Hospitality & Leisure, and the Public Sector.

Both internally and externally the tools are being developed and a movement is emerging to kickstart a new era of sustainable business.

Chief value officers and ESG investors: What could green finance look like in the new normal?

Whatever the new normal looks like once nations have battled their way through the coronavirus, the recent rhetoric around green finance suggests that both internally externally, the value of sustainability to a business is set to grow.

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.

Signatories of the alliance say they are committed to supporting post-pandemic “stimulus transformation plans” through climate action

Financiers join EU 'green recovery alliance'

More than 50 CEOs from the banking and insurance sector - including household names such as BNP Paribas, AXA, Allianz, and Santander - have joined the "green recovery alliance" in the European Parliament.

The total number of ESG bonds has increased modestly from 43 in March to 51 in April

ESG bonds rise by 270% year-on-year as finance community assists Covid-19 response

The issuance of Environmental, Social, and Governance (ESG) bonds has increased by 272% year-on-year, as investors and insurance firms take proactive steps to respond to the coronavirus pandemic.

The NGOs expressed concern that no insurer has a commitment to only support projects which are consistent with the needs of a 1.5C transition

NGOs call on investors to respond to coronavirus pandemic through net-zero transition packages

A collection of NGOs have written to some of the world's largest insurers, calling on them to address economic responses to the coronavirus outbreak in ways that are aligned with the urgent need to combat the climate crisis and steer the global economy towards a net-zero future.

Damage caused by the River Don in Sheffield, Yorkshire, which burst its banks in November due to flooding

Are businesses ignoring climate resilience on the net-zero journey?

From the flooding caused by Storm Dennis in the UK to the wildfires that have plagued Australia, the damage caused by climate change is becoming more tangible and frightfully frequent. But is the business response of pledging to deliver net-zero emissions enough?

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 announcement was made at Davos, where the Alliance is engaging with more than 50 C-suite representatives of portfolio firms

Church of England and Generali join UN's Net-Zero Asset Owner Alliance

The Church of England and insurance firm Generali are the latest organisation to sign up to the UN's Net-Zero Asset Owner Alliance, a coalition with more than $4.3trn in assets under management attempting to engage with corporates to reach net-zero emissions.

Single-use Plastics: The Business Leadership Inspiration Sessions (16 January 2020)

The Business Leadership Inspiration Sessions: an afternoon of three live, interactive webinar presentations and discussions – all dedicated to helping businesses collaborate, innovate and actuate to eliminate single-use plastics, is available to watch on-demand.

Pictured: The Shotton surface coal mine in Northumberland

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.

Published last week, the WEO predicts further growth of coal in China, among other nations. Image: Kleineolive/ CC-BY-3.0

Dozens of investors slam IEA over fossil fuels and renewables projections

Allianz, Zurich Insurance Group and Orsted's pension fund are among 65 finance bodies to have written to the International Energy Agency (IEA), urging to body to hep global energy firms align with the Paris Agreement.

The standard also sets out how organisations can prioritise measures that will increase resilience against future climate shocks

BSI launches new ISO standard for climate change adaptation

The British Standards Institution (BSI) has published its first standard on climate change adaptation, creating a framework for how businesses can develop measures and report and assess strategy and plans which increase resilience against climate impacts.

H2 of 2018 was widely regarded as a difficult period for green finance, but the market is showing signs of resurgence

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.

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.

Barclays pledges to source 100% renewable electricity by 2030

Transatlantic banking giant Barclays has pledged to source 100% renewable electricity by 2030, with an interim goal of 90% by 2025.

<p>Chubb is headquartered in the US and has operations in 53 other countries</p>

Chubb sets global science-based emissions targets

The world's largest publicly listed property and casualty insurance firm has set new carbon emission reduction targets, in line with the 2C trajectory outlined in the Paris Agreement.

Targeted Charging Review - what you need to know from

The report also provides an update on the company’s resource efficiency efforts, including reductions on food waste goals

Co-op to halve emissions by 2025

The Co-op has announced new goals to reduce its direct emissions by 50% and product-related emissions by 11%, after reaching a previous carbon goal three years ahead of schedule.

In action: The environmental legacy of the Thames Tideway Tunnel

The Thames Tideway Tunnel is a new major piece of infrastructure for London, capturing an average of 39 million tonnes of untreated sewage which currently enters the tidal River Thames every year. If no action is taken, this is anticipated to reach 70 million tonnes by 2020.

CISL's findings indicate that in some developing nations, 100% of losses caused by natural disasters were not covered by insurance

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.

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.

The new moves by Shell have been welcomed by investor body Climate Action 100+

Shell to pay executives in line with decarbonisation achievements

Oil and gas giant Royal Dutch Shell has today (3 December) pledged to link progress made towards its carbon reduction aims to the amount of pay awarded to members of its executive board, in a move to engage senior stakeholders with sustainability.

Research by the Asset Owners Disclosure Project found that only one in ten of the world's largest pension funds has pledged to align their portfolios with the Paris Agreement's 2C trajectory

World's pension funds vulnerable to climate risks, study reveals

87% of assets managed by the world's 100 largest public pension funds are yet to undergo a formal climate risk assessment, according to research published on Tuesday (23 October), with only 15% of them adopting a coal exclusion policy.

The Investor Agenda is designed to support asset managers as they scale up investments critical to tackling climate change

Hundreds of global investors commit to bolster climate strategies

A coalition of almost 400 investors with $23trn in collective assets has pledged to step up its climate action plans in a bid to help the global finance sector meet the aims of the Paris Agreement.

The Unfriend Coal briefing has been published during a global reinsurance conference in Monte Carlo, in a bid to drive coal divestment image: Marion Esnault

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.

World Water Week: Valuing our natural environment

We all 'appreciate' a babbling brook and beautiful rivers and oceans, but what is the value of our natural environment? World Water Week provides us all with the perfect opportunity to reflect on the importance of water stewardship, which is not only about doing the right thing, it's also about generating real business benefits as a result.

Legal and General divests from climate change 'laggards'

Insurance giant Legal and General Investment Management (LGIM) has committed to divest from a host of companies it believes are showing "persistent inaction" on addressing climate risks, removing the firms from its Future World Fund.

The EAC does not believe that a voluntary approach will be effective in the medium-term

MPs urge UK Government to make climate risk reporting mandatory

Ministers have urged the UK Government to make it mandatory for companies and asset owners to report on climate-related risks by 2022 in order to "fix" the short-term mindset of the current financial system.

The Unfriend Coal report accuses 25 of the world’s largest insurers of continuing to invest in ‘dirty’ tar sands and coal energy projects

Top pension funds and insurers failing to engage with climate risks

Some of the UK's biggest pension funds are failing to address climate-related impacts, while 25 of the world's largest insurance brokers continue to invest in coal or tar sands projects, two damning reports have claimed this week.

UK insurers Aviva and Legal & General claimed second and fourth place respectively

UK insurers lead the ranks for climate action

UK insurance companies Aviva and Legal & General have taken two of the top four spots in a ranking of global insurers on their climate strategies, but globally the sector is struggling to set climate targets in line with the Paris Agreement.

Sector insight: The state of sustainability 2018

This exclusive insight report explores the key drivers, challenges and opportunities facing sustainable business in the UK.

So far, 16 insurers have divested an estimated €22bn from coal companies

Allianz pledges to stop insuring coal plants as pressure mounts on insurance industry

Financial services firm Allianz has set a target to eliminate its insurance coverage for coal, amid heightened pressure on the industry to end its support for the fossil fuel.

The Commission will also present in May a draft law to clarify the investors’ duties in regards to their advice and responsibilities on sustainable products

European Union unveils green investment action plan

The European Commission unveiled on Thursday (8 March) its highly expected action plan on sustainable finance, aiming to clarify what can be labelled as "green" investment and potentially lowering capital requirements on asset holders.

MPs are concerned that fiduciary duties are often misinterpreted as efforts to maximise short-term returns

£555bn pension funds questioned over climate risk 'misunderstandings'

Government ministers are concerned about "outright misunderstandings" amongst the UK's top 25 pension funds, with assets under management worth £555bn, relating to failures to account for climate-related risk.

The bank worked with ESG research providers Sustainalytics to create the framework

Barclays updates green bonds to capture 'compelling' economic opportunity

Barclays has signified its shift towards a low-carbon economy, by announcing a set of green finance products that will help promote sustainability in the UK and across the globe.

Developed countries had pledged to raise $100 billion each year in climate finance for developing countries by 2020. However, as of September 2017, governments had pledged $10.3 billion

Climate finance, the sticking point in COP23

Rich countries had pledged to raise $100 billion each year in climate finance for developing countries by 2020. As of September 2017, they had pledged just $10.3 billion. And the question of who should pay remains unanswered.

Autarco insists that end users will no longer have to settle for an expected guarantee without sufficient protection of their bottom-line investment

Lloyd's of London first insurer to back kWh guarantee for solar installations

Businesses can now receive a kWh performance guarantee for solar fittings after PV manufacturer Autarco launched a new assurance for its PV systems.

Deep breath: change the conversation

Air quality in our towns and cities is a critical issue but action and progress will be sorely limited unless we grasp the challenge of awareness, behaviour and pro-active communications.