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.
Businesses, NGOs make joint plea for higher EU ambition on climate change
A unique coalition of businesses and investors representing over €21 trillion in assets have joined forces with local authorities and civil society groups to urge EU leaders to accelerate the transition to a zero-carbon economy in order to keep global warming below 2°C.
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.
'High risk' meat and fish sector failing to combat climate-related business risks
More than half of global meat and fish suppliers have been labelled as "high risk", with new research warning that the sector is failing to manage sustainability issues such as greenhouse gas emissions and antibiotics stewardship.
EU tables ground-breaking 'low-carbon benchmark' for green finance
The European Commission presented on Thursday (24 May) a set of proposals aimed at boosting private investment in low-carbon technologies like renewable energies while increasing transparency in sustainable finance to avoid green-washing.
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.
Policy needed to solve the 'Rubik's cube' of energy storage
EXCLUSIVE: Regulatory frameworks need to act as a "steady hand" to grow the business case for energy storage solutions, with expert delegates from UK Power Networks (UKPN) and energy not-for-profit Regen SW likening the market to a Rubik's cube that was almost aligned.
Lloyds launches £2bn Clean Growth Finance scheme
Lloyds Banking Group has announced it will be providing a further £2bn of funding for sustainable investments, increasing its total UK green finance commitments to £3bn.
Subsidy cuts slow growth of independent renewables, report finds
Investment in new, independent renewable energy projects in the UK totalled £227m in 2017, down by almost 20% from 2016 figures, according to a new report published this week.
Investors and energy giants call for close UK EU climate ties after Brexit
Aviva, E.ON, RWE, EDF and NPower are among a coalition of 21 energy giants and top investors who have called on Britain and the EU to maintain close links on energy and climate policy after the UK leaves the bloc.
Climate change mitigation should be viewed as business opportunity, says London Stock Exchange
Businesses and investors should focus more on measuring and reporting the positive impacts of sustainability efforts rather than purely analysing the risks posed by climate change, according to the sustainability manager of the London Stock Exchange Group.
NatWest delivers £3.5bn low-carbon lending in three years
Banking giant NatWest has pledged to deliver of £10bn lending to UK renewable energy and energy efficiency projects by 2020, having provided £3.5bn over the past three years.
London ranked as global leader in green finance movement
London has been ranked as the best financial hub in the world for green financing offerings, with a new report predicting that the market for green offers will grow "substantially in size and quality".
Telling your sustainability story: edie launches communications handbook
Sustainability and CSR professionals looking to boost stakeholder engagement through effective communications now have access to a new 'handbook', which provides expert advice and insight into how to tell your sustainability story.
Energy storage investment fund to raise £100m on London Stock Exchange
The world's first listed investment fund targeting energy storage developers and projects is attempting to raise £100m after floating on the London Stock Exchange.
Report: Political clarity key to unlocking 'enormous' UK green investment opportunities
The UK can "reap enormous opportunities" by strengthening private financial investment into green infrastructure and projects, with a new Aldersgate Group report noting the "urgent" need for political clarity to unlock more revenue streams.
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.
Honda to play central role in V2G demonstrator project
Car giant Honda has teamed up with other firms, local bodies and academic institutions for a new project that aims to demonstrate the business case for Vehicle-to-Grid (V2G) technologies across the UK.
Banking sector's 'skin deep' commitment to green finance threatens 2C future
The shortcomings of global banks on climate action could undermine efforts to achieve a 2C world, according to a damning report backed by more than 100 investors worth almost $2trn in assets.
Top investors call on global food brands to make plant-based shift
An investor-led coalition worth $2.4trn has urged the likes of Unilever, Nestlé and Tesco to diversify their protein sourcing away from a reliance on animal proteins.
Triodos pioneers sustainable crowdfunding platform
Sustainable lender Triodos has become the first UK bank to launch its own crowdfunding platform, which will enable people to invest directly in equity or bonds issues by organisations delivering positive social and environmental impacts.
Expert group recommends setting up European standards for 'green bonds'
An EU sustainability taxonomy, a definition of priority investment areas, the clarification of investor duties and development of "official" European sustainability standards for green bonds are some of the recommendations experts made to the European Commission on Wednesday (31 January).
Lloyd's of London to divest from coal over climate change
Lloyd's of London, the world's oldest insurance market, has become the latest financial firm to announce that it plans to stop investing in coal companies.
ING announces €100m Sustainable Investments fund
Dutch Bank ING has today (18 January) launched a €100m Sustainable Investments fund to help start-ups and innovative new business models scale up concepts and projects tailored for energy, water and resource efficiency.
Green bonds market reached record heights in 2017
The green bonds market grew by a staggering 78% between 2016 and 2017, with national and institutional investors funnelling more than $150bn into low-carbon projects.
Philippe Joubert: Policy frameworks will define climate action in 2018
The concept that markets can direct themselves without government guidance is a "fallacy" and policymakers must create the regulatory frameworks that enable businesses to thrive on a low-carbon pathway in 2018.
EU announces €9bn in funding for climate action
The European commission has announced funding of €9bn (£8bn) for action on climate change, one of a flurry of measures from governments, businesses and investors aimed at achieving the goals of the 2015 Paris agreement.
Sainsbury's and Unilever sign up to blockchain trials for supply chain practices
Global brands Unilever and Sainsbury's have partnered with leading investors to trial how blockchain technology can financially reward sustainable farming practices for Malawian tea makers.
Climate Action 100+: New investor initiative targets top 100 corporate emitters
More than 200 of the most influential investor institutions, with more than $26.3trn in assets under management, have today (12 December) launched a new global initiative to help the 100 largest corporate emitters reduce value chain carbon footprints.
Global companies call on nations to push for 'well-below' 2C Paris target
More than 50 global companies including Unilever, M&S and Adidas have called on nations meeting in Paris to discuss climate progress, to phase-out fossil fuel subsidies by 2025 and create the framework to limit global warming increases to well below 2C.
UK banking performance at odds with Government's green finance leadership ambitions
The UK Government's ambition to promote the UK as a global leader of green finance post-Brexit is already at risk, with a new report finding that French banks have shown "marked leadership in green banking" because of innovative new legislation.
Could looming new energy efficiency standards spark a green rental market?
The impending creation of a new energy efficiency regulation for UK properties could trigger the emergence of a green rental market, a leading credit rating agency has claimed.
Corporates risk $941bn due to deforestation failure, CDP warns
The business community is risking up to $941bn on commodities linked to deforestation, according to research, but the vast majority of corporates are reportedly failing to take action.
Water risks still 'invisible' to finance sector, says ING
Commercial banks are struggling to overcome a communications barrier with businesses to gain insight into portfolio risks specifically associated with water, according to Dutch bank ING's vice president for sustainable finance Ambika Jindal.
Can government and investors make post-Brexit UK a green finance leader?
The recent Clean Growth Strategy has created a multi-billion-pound framework for low-carbon growth, but the UK Government is still keen to strengthen relationships with investors to tackle the "hard and challenging" times ahead.
New investor partnership scores corporates on physical climate risk exposure
Deutsche Asset Management (DAM) has formed a new partnership with a US-based advisory to develop a first-of-its-kind climate risk service that calculates the physical climate risks of investor portfolios.
Business focus on water management reaching 'record levels', says CDP
The number of big businesses investing in water security has reached "record levels", with new analysis from CDP finding that more than $23bn has been invested in 2017 as some companies place an "internal price on water" to justify funding decisions.
World Water Council: Water infrastructure investment must to triple to combat climate change
As UN delegates meet in Bonn this week to commence the COP23 climate conference, the World Water Council (WWC) has reported that financial investment into water infrastructure needs to triple to €255bn annually to combat climate change and meet sanitation targets.
TCFD's scenario analysis a 'storytelling' opportunity for sustainability professionals, says WRI
EXCLUSIVE: The recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) provide sustainability professionals with a chance to strengthen relationships with board members and the finance department, by utilising the "storytelling" aspects of scenario analysis.
Oil refining capacity set to shrink by a quarter during low-carbon transition
A quarter of global refining capacity will leave the market or be forced to close by 2035, sparking calls for investors to be aware of the risk of "wasting capital" on new investments into the oil sector.
Put 'cows alongside cars' at COP23, investors urge
With COP23 set to start in Bonn next week, an investor network is calling on developed countries to prioritise the "elephant in the room" at the UN talks, by tackling livestock sector emissions.
Lord Stern: Flexible policy approach will catalyse low-carbon transition
Lord Nicholas Stern has called on governments across the world to implement "predictably flexible" policy frameworks that enable businesses to map investment opportunities during the transition to a low-carbon economy.
Rabobank launches $1bn programme for food production practices
Dutch cooperative financial firm Rabobank has partnered with the UN Environment to promote sustainable food supply across the globe, starting with the launch of a $1bn fund to catalyse land restoration and forestry initiatives.
Investors urged to engage with Sustainable Development Goals
Investors have been urged to support the "world's most pressing environmental, social and economic issues" by using the Sustainable Development Goals (SDGs) as a capital allocation guide.
KPMG: Three quarters of businesses not acknowledging climate-related risks
Despite investors ramping up the pressure on the corporate disclosure of climate-related risks, nearly three quarters of large and mid-cap companies don't acknowledge the financial risks of climate change in their annual financial reports.
Claire Perry: Clean Growth Strategy will set 'decarbonisation pathway' across UK economy
The Government's long-anticipated Clean Growth Strategy launches tomorrow (12 October), and the Minister of State for Climate Change Claire Perry has vowed to "march on a decarbonisation pathway" across the entire UK economy to meet national carbon commitments.
The Reporting Exchange: Global platform launched to streamline sustainability reporting
As more companies switch to integrated reporting linking sustainability actions with financial filings, the World Business Council for Sustainable Development (WBCSD) has launched a free, online platform to help businesses navigate the increase in reporting requirements.
Investors implore banking firms to champion climate disclosure
More than 100 investors with $1.8trn under management have written to the chief executives of 60 of the world's largest banks, including HSBC and Bank of America, calling for better disclosure and implementation on climate risks in their investment portfolios.
British American Tobacco added to Dow Jones Sustainability Index as familiar brands lead the way
Companies including Coca-Cola, Peugeot, Unilever and Royal Mail have been named as industry group leaders in the 2017 Dow Jones Sustainability Index, which has added British American Tobacco and removed a company linked to the North Dakota access pipeline from its sustainability indices.
Millennials twice as likely to invest in green business, survey reveals
Millennials are driving global growth in sustainable investing, according to financial services firm Morgan Stanley, which has discovered that the younger generation are twice as likely to invest in companies targeting social or environmental goals.
World's first climate disclosure lawsuit to set 'important precedent' for businesses
Pressure is mounting on the private sector to consider climate change risk in annual reports after the world's first climate disclosure lawsuit was lodged today (8 August).
Mongoose Energy secures UK's biggest community energy deal
Mongoose Energy has finalised a deal to finance the UK's biggest community energy project, a 'solar plus battery' farm in Warwickshire.
Shareholder demands driving commitments on deforestation, report finds
Shareholder resolutions are an increasingly viable way to drive company action on deforestation, with more than half of proposals to address risks leading to business commitments from the likes of Kraft, DuPont and Mondelez, according to new analysis.
Investors reach early milestone for UK's first commercial geothermal power plant
A bond that encourages investors to back the first commercial geothermal electricity power station in the UK has raised more than £1m in the 48 hours since it was launched.
Decentralised energy will revolutionise sustainable business, claims Mongoose Energy boss
EXCLUSIVE: Businesses that invest in decentralised energy systems can enjoy the triple benefit of economic value, security of supply and "telling a good story", the new chief executive of community energy supplier Mongoose Energy has told edie.
BlackRock: UK's largest renewables fund passes £1bn mark
The world's largest investor has raised the largest fund for renewable power generation in the UK, totalling £1.1bn in commitments, with more than £600m already funnelled into 40 UK solar and windfarm projects.
Global banks worth $7trn pledge support to TCFD climate disclosure guidelines
Eleven of the world's top banks, including Barclays and Santander, have jointly committed to adopt key elements of a new international framework which seeks to improve climate transparency in the financial industry.
Property industry develops sustainability toolkit for acquisitions
A coalition of the UK's leading commercial property owners has teamed up to launch an industry toolkit which delivers practical guidance on sustainability criteria within the acquisition process.
CDP: Only 100 firms account for more than 70% of global emissions
Just 100 major companies, such as Shell, ExxonMobil and BP, have caused 71% of global greenhouse gas (GHG) since 1988, according to new research from global disclosure organisation CDP.
TCFD: Businesses worth $2trn back final climate disclosure recommendations
More than 100 businesses including Unilever, Barclays and HSBC, have publicly committed to support the final recommendations listed by the Task Force on Climate-related Financial Disclosures (TCFD), which seeks to disclose climate information as part of mainstream financial statements.
UK primed to lead Europe's £46bn wave energy market opportunity
Wave power can contribute to 10% of global electricity demand by 2050 if governments and the private sector offer financial support and political stability, with the UK primed to act as the marine energy leader.
Green Deal loan scheme relaunches
The Green Deal Finance Company (GDFC) has relaunched financing streams for households to improve the energy efficiency of a building through a number of providers and installers, for the first time since July 2015.
New data hub offers financial oasis against climate-related hazards
A new global data community aimed at expanding the climate risk adaption strategies for the insurance and investment markets has launched this week (5 June), to protect economic losses incurred through damages to infrastructure during natural disasters.
Power sector urged to adopt world's first investment-grade carbon pricing mechanism
Financial heavyweights including Bank of America, Barclays and Hermes Investment Management have teamed-up to introduce the world's first investment-grade carbon pricing system for the power sector, aimed at aligning company operations with a 2°C pathway.
New natural capital metric a 'powerful lever for change', says Kering
EXCLUSIVE: A new natural capital biodiversity metric will act as an "internal change management tool" that allows companies to define and translate what environmental footprints look like in a business context, Kering's head of sustainable sourcing innovation has claimed.
UK re-enters top 10 for renewables attractiveness
The UK has restored its position as one of the top 10 countries for renewable energy investment, although concerns remain about the impact that Brexit will have on future investments.
UK financial markets exposed to embedded fossil fuel reserves
UK businesses and investors may be inadvertently sitting on more than 15,000 tonnes of stranded fossil fuel asset emissions that could impact how the nation commits to a 2C energy scenario, new research has found.
Investors worth £11bn urge Trump to stick with Paris Agreement ahead of withdrawal decision
An investor group worth more than £11.5bn has urged Donald Trump to maintain support for the Paris Agreement, amid rife speculation that the President could seek to pull out the US from the landmark climate change deal as early as this week.
MPs demand fossil fuel divestment for pension fund
Fifty MPs standing for re-election, including the Green Party's Caroline Lucas and the Conservative Party's Laura Sandys, have called for their £612m pension fund to sever investment ties with fossil fuels.
LEED and BREEAM can generate 'stories of leadership' for businesses, says USGBC
EXCLUSIVE: The ongoing expansion of LEED certification opportunities in Europe can enable businesses to become leaders in the built environment, by obtaining duel, third-party certifications that highlight the business case for green buildings.
'The scales have tipped': Majority of investors taking action on climate change
The number of the asset owners recognising and acting on the risk of climate change has risen by almost a fifth in the last year, with 60% of the world's biggest investors taking steps to protect their portfolios, a new report has revealed.
Philips agrees €1bn loan connecting sustainability performance with finance
Philips has agreed a pioneering €1bn loan in collaboration with banking group ING, with an interest rate dependent on the year-on-year advance of the global lighting firm's sustainability performance.
Christiana Figueres: Peak emissions by 2020 'crazy but achievable'
Former UN climate chief Christiana Figueres remains "stubbornly optimistic" that market trends are already in place to hit ambitious three-year targets as part of her Mission 2020 campaign, but only if the "climate conversation" is extended to a wider range of stakeholders and investors.
Private sector funding for smart cities hindered by regulatory constraints, say experts
The private sector will have to mobilise "enormous" amounts of capital to help with the global smart cities transition, but nations must first address regulatory and institutional barriers to incentivise the movement.
BlackRock headlines green bonds push, but is investor action ambitious enough?
As a new briefing paper highlights that up to $6.9trn in controlled assets are covered by investors with little to no environmental, social and governance (ESG) responsibility, the world's largest investor has headlined a stream of new green bond announcements.
World's largest investor to vote out directors failing to act on climate risks and mitigation
The world's largest investor has warned that high-level directors could be voted out of companies that are failing to mitigate climate-related risks posed to individual firms.
World Bank unveils first green bonds linking business actions to SDGs
The World Bank has issued its first ever set of green bonds that directly link financial returns to companies performing to the standards and aims on the United Nation's Sustainable Development Goals (SDGs).
Sustainability reporting frameworks lack comparability to attract investment, say experts
EXCLUSIVE: Sustainability reporting frameworks should be developed to encourage businesses to compete on performance and attract investors rather than simply being used as compliance mechanisms, a panel of experts have agreed.
Financial giants repeat calls for G20 to phase-out fossil fuel support
The financial sector is calling on G20 governments to sever ties with the fossil fuel sector, as 16 major companies with assets under management worth $2.8trn signed a joint statement for governments to phase-out subsidies by 2020.
Major banks failing to align climate strategies to Paris Agreement targets
Despite more than 70% of banks introducing environmental and carbon footprint stress, many are failing to align business and investment strategies in keeping with the 2C pathway scenario established through the Paris Agreement.
Fears mount over Green Investment Bank sale as MPs warn of asset-stripping
MPs have today (11 January) raised concerns over the proposed sale of the Green Investment Bank (GIB) to private investors in a letter which urges Business, Energy and Industrial Strategy (BEIS) Secretary Greg Clark to consider the bank's long-term role in the green economy.
Dear Mr Trump: We need a low-carbon USA, say 600 firms
More than 630 of America's largest companies and investors have renewed calls for President-elect Donald Trump to re-consider his climate change denial stance and support the nation's low-carbon policies.
New framework aims to 'unlock billions' needed for green urban development
A new collaboration of international organisations is launching a new framework to help unlock the billions needed to accelerate cleantech and sustainable development in cities across the world.
Mark Carney and Michael Bloomberg set out recommendations for climate disclosure adoption
The first global, industry-led effort to create recommendations for climate-related financial disclosures has been published by the Task Force on Climate-related Financial Disclosures (TCFD).
Bill Gates and investors inject $1bn into Breakthrough Energy fund
Microsoft co-founder Bill Gates has rallied together a team of executives from some of the world's biggest companies in order to pledge a $1bn fund to accelerate the uptake of clean energy technologies.
Fossil fuel divestment funds double to $5tn in a year
The value of investment funds committed to selling off fossil fuel assets has jumped to $5.2tn, doubling in just over a year.
Stock exchanges poised to introduce sustainability reporting standards
The London Stock Exchange (LSE) is among 21 of the world's stock exchanges that look set to introduce sustainability reporting standards before the end of 2016, according to experts.
Energy efficiency: 'Champions and dunces' exist in every industry
The world's largest listed companies could save 1.4 billion tonnes of CO2 - the equivalent of Japan's annual carbon emissions - by closing the gap between the worst and best-performing businesses on energy efficiency, a major new report has revealed.
Is the cement industry undermining the Emissions Trading System?
Research by UK-based non-profit InfluenceMap has found that, despite the European cement industry seeming to embrace the Paris Agreement on climate change, many companies within the sector continue to oppose ambitious science-based climate policy.
Ecotricity's green bond raises £12m in one month
Green energy supplier Ecotricity's latest foray in the UK renewable energy market has led to more than £12m of applications for its fourth corporate mini-bond ahead of tomorrow's (30 November) deadline.
Human capital: Why low-carbon innovations must grow hand-in-hand with new sustainability skills
Companies that are driving the global low-carbon transition do so through the effective use of clean technology and a willingness to embrace new businesses models, but are the next generation of green businesses leaders primed with the right skills to push the sustainability agenda even further?
Businesses urged to 'wake up' over £11bn water risks
Businesses have been issued a "wake-up call" by a new CDP report which revealed that water risks fuelled by climate change cost the private sector $14bn (£11.3bn) over the last year.
UK's first green energy ISA attracts £1m funding pool
The UK's first green energy Individual Savings Account (ISA) has already received £1m of investment since its launch last week, with the expenditure set to fund a new community solar farm in Swindon.
COP22: Major firms lead low-carbon energy drive
The first week of COP22 in Marrakech rounded-off on energy day, with a range of companies demonstrating their commitment to a low-carbon future with pledges to source 100% renewable energy.
STA calls for 'modest government intervention' for solar
New research has shown that the current financing for large scale solar PV schemes in the UK is no longer economically viable.
Ignoring sustainability in favour of short-termism will cause financial ruin, warns major investor
EXCLUSIVE: Companies that fail to realise the long-term benefits of sustainable investment will see their financial returns collapse, one of Britain's biggest investment groups has said.
Investors want more transparent sustainable funding opportunities
New research from ethical investment specialists Triodos Bank has revealed that investors want to increase ethical investment prospects and enhance socially responsible investment (SRI) opportunities, despite many feeling that they don't have the opportunity to do so.
Ecotricity launches new 'Ecobond' amidst acquisition of Good Energy shares
UK green energy supplier Ecotricity has continued to expand its influence in the renewable energy sector with the launch of its fourth "Ecobond", alongside news that it has acquired significant stakes in rival renewable energy supplier Good Energy.
CDP's Climate A List: Highlighting the business case for low-carbon commitments
Companies that feature in global disclosure organisation CDP's annual Climate A List - such as Sky, Apple, Tesco and Unilever - are producing 6% higher returns on average compared to other brands.
Britain's renewable attractiveness at all-time low
The UK has fallen to an all-time low in EY's table of the world's most attractive renewable energy markets due to Brexit uncertainty, the demise of DECC, and the approval of the Hinkley Point C power station.