The disclosure and transparency trend
As part of edie's new ESG Handbook, CDP's head of investor research Carole Ferguson outlines how the twin threats of the coronavirus pandemic and the climate crisis is creating a heightened focus on transparency amongst investors and corporates.
Analysts to help align economic recovery plans with net-zero
Many world leaders and businesses have given their verbal support for a 'green' economic recovery from Covid-19. Now, a group of analysts have begun work to develop data-driven digital tools which will help deliver on these commitments.
Major investors to pilot new net-zero framework on $1.3trn of assets
Standard Life and the Church of England Pensions Board are among a coalition of investors trialling what has been described as the world's first blueprint for aligning investment portfolios with the Paris Agreement on climate.
edie launches new handbook on ESG excellence and best practice
edie has published a new handbook outlining the key considerations and best practice advice to collecting and compiling Environmental, Social and Governance (ESG) data that investors are increasingly looking for, in order to spur the green recovery.
Bridging the gap between sustainability and finance
The role of an environmental professional on big infrastructure projects has changed dramatically during my career. Now we are approaching a period where sustainability and finance professionals engage on the crucial decisions that will shape the green future.
Google owner issues largest corporate sustainability bond in history
Google's parent company Alphabet Inc. has issued $5.75bn (£4.4bn) in sustainability bonds, in what it claims is the largest sustainability or green bond issued by a corporation to date.
The ESG Handbook 2020: Spurring the green recovery
Green finance and ESG investing were reaching a tipping point, then the coronavirus pandemic swept across the world. The virus hasn’t so much as tipped the scales towards ESG investing but rather poured most of the world’s financial system towards it.
How can businesses boost climate disclosure and green investment in line with changing demands?
Investors and consumers alike are demanding more information on business-related climate risks and whether corporates are spending significant sums on decarbonisation - and this trend is likely to accelerate because of Covid-19. So, what is best practice on investment and disclosure, and how should businesses implement these approaches?
Private equity investors launch Paris-aligned climate disclosure framework
A group of private equity investors have launched an international network committing to engage with corporates in reducing carbon emissions in line with the needs of the Paris Agreement.
edie's Net-Zero Live 2020 goes virtual as part of bumper month of inspirational content
edie's annual exhibition, Net-Zero Live 2020, will take place virtually over three days in November, as part of a themed month of digital content dedicated to accelerating climate action and helping business build back better.
Available to watch on-demand: edie's sustainable investment webinar featuring ING and BlackRock
Sustainable finance experts from BlackRock Investment Stewardship, ING and Tideway appeared in edie's webinar focused on sustainable investment and climate disclosure, which took place Wednesday 29 July. The recording is now available to watch on-demand.
2020 will be 'watershed year' for plant-based foods, investor coalition predicts
Investor coalition FAIRR has documented a tenfold increase in the plant-based-food-related assets its cohort manages over the past four years and found that four in ten food giants now have dedicated teams for plant-based products.
UN maps all land to help businesses halt habitat and biodiversity destruction
Scientists have mapped the entirety of the planet's terrestrial habitat, creating a resource that will help businesses and investors measure and minimize their impacts on natural resources and biodiversity.
NatWest to disclose the climate impacts of projects it finances
NatWest Group has pledged to halve the climate-related impacts of its financing by 2030, after becoming the first major UK bank to join the Partnership for Carbon Accounting Financials (PCAF).
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.
Banking giants team up for Task Force for Nature-related Financial disclosures
AXA and BNP Paribas are among a group of 10 major banks backing a new initiative intended to help corporates measure, disclose and minimise their nature-related financial risks.
Morgan Stanley to disclose climate impact of investments
Morgan Stanley has become the first US-based global bank to commit to measuring and disclosing the environmental impact of its investment portfolio and loan offerings and will join a global partnership to drive climate action across the global accounting sector.
Translating targets into temperature: CDP launches new ratings system for climate crisis
CDP has today (7 July) launched a new set of ratings gauging the temperature pathway of investment portfolios, funds and stock indices in order to outline future climate-related risks to investors.
Just 1 in 10 UK businesses assessing climate risk as a priority, survey reveals
A survey of more than 500 businesses has revealed that while three-quarters are concerned about climate-related risks, just one in ten consider measuring and disclosing their climate-related risks a priority.
edie launches brand new Sustainable Investment Digital Conference for September
edie is launching its first bespoke sustainability conference focused on green finance, with experts from ING, BlackRock and BNP Paribas set to discuss investment and the green recovery at the Sustainable Investment Digital Conference on 7-8 September 2020.
Amazon to invest $2bn in low-carbon innovations
Amazon will invest at least $2bn (£1.6bn) in smaller firms creating technologies or services aimed at reducing carbon emissions to net-zero, the e-commerce giant announced on Tuesday (23 June).
Investors target Facebook, Nintendo and other business giants over climate disclosure
More than 1,000 multinational companies have been contacted by a group of more than 100 investors, calling for relevant data on environmental performance and stewardship to be disclosed to CDP.
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 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.
Fossil fuel profits set to collapse by two-thirds
The global market value of fossil fuels is set to collapse by almost two-thirds, creating heightened economic risk for companies, financial markets and countries failing to embrace new low-carbon technology.
UK business giants call for national green recovery tied to net-zero
More than 200 UK businesses and investors, including Sky, Lloyds Bank and Asda, have called on Prime Minister Boris Johnson to deliver a green recovery plan from the coronavirus pandemic that builds a stronger and more inclusive economy.
Coronavirus: EU's €750bn recovery fund to funnel investments towards climate action
The European Union's proposed €750bn fund to help the bloc recover from the coronavirus crisis will have green strings attached, with 25% of all funding set aside for climate action, the European Commission has said.
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.
Business giants failing to disclose climate-related risks
Europe's largest businesses are failing to provide relevant climate-related data to investors, which could jeopardise the European Union's aims to deliver a "just" carbon-neutral transition by 2050.
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 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.
Seven top tips to engage on sustainability during a global pandemic
edie recently hosted an afternoon of back-to-back online events exploring best-practice advice into communicating, engaging and reporting on sustainability. Against a backdrop of a global pandemic, panellists outlined their thoughts on how businesses can keep sustainability high up the corporate agenda.
Available to watch on-demand:All three online events from the CSR reporting and communications sessions
edie ran a series of back-to-back online events on sustainability reporting and communications during the coronavirus pandemic, featuring speakers from Innocent Drinks, British American Tobacco, Toast Ale, Capgemini and more. All three sessions are now available to watch on-demand.
The Disclosure Digest: edie launches top tips on aligning sustainability with investor needs
With more investors looking to focus on green and low-carbon financing to push the economy out of the slump caused by the pandemic, edie is releasing an exclusive outlining how sustainable businesses can overcome language barriers to engage with a new market of green investors.
The disclosure digest - Five steps to align sustainability with investor needs
This report is based on a session of discussions and co- creation hosted in association with edie’s 2020 Sustainability Leaders Forum. The half-day event took place on 3 February in London and saw sustainability managers from a wide range of businesses take part in collaborative roundtables. During the discussions, sustainability managers outlined key challenges and discussed the exciting new opportunities in the areas that mattered the most.
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.
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.
Total commits to net-zero emissions by 2050 following investor pressure
Global energy company Total is the latest in the sector to commit to net-zero emissions, setting a target for 2050 or sooner after extensive engagement with a climate action investor coalition.
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.
BlackRock's SDG fund and HP's ocean-plastic drive: 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.
Royal Dutch Shell commits to net-zero emissions by 2050
One of the world's largest emitters, Royal Dutch Shell, is set to announce plans to become a net-zero emissions business by 2050 at the latest at its Responsible Investment Annual Briefing today (16 April).
The net-zero bulldozer: Have the SDGs been forgotten in an era of climate activism?
2019 will be remembered as a year of unprecedented climate action, with improved science and mass citizen engagement spurring nations and businesses to set net-zero targets. But amid this rush of climate action, have the other social and environmental issues set out by the UN Sustainable Development Goals (SDGs) been deprioritised?
Barclays sets 2050 net-zero climate policy, covering operations and investments
British banking giant Barclays has pledged to become a net-zero business by 2050, under new a new climate policy which covers both direct operations and finance allocated externally.
Investors write to businesses calling for action on human rights
Hundreds of investors have written to global companies deemed to be performing poorly on human rights indicators, calling for immediate action to improve standards across operations and value chains.
US clears Exxon and Chevron to dismiss shareholder climate reporting requests
The US Securities and Exchange Commission (SEC) has approved requests from both Exxon and Chevron to reject shareholder proposals that have called on the oil and gas giants to report on how the companies are addressing climate change by aligning to the Paris Agreement.
Heavy-emitting firms 'off-track' to deliver low-carbon world
More than 80% of the highest-emitting listed companies are failing to deliver emissions reductions aligned to the Paris Agreement's 2C global warming limit, with many companies also failing to account for climate mitigation and risk strategies.
Meat sector 'facing ruin' as climate change set to cripple earnings
The increased impacts of climate change coupled with rapid growth of alternative proteins will put "billions of dollars at risk" in the meat sector, as a new study warns that companies are failing to disclose climate-related data or examine how they would perform based on numerous climate pathways.
Corporates and asset managers scrutinised as climate disclosure requirements take shape
As the Financial Conduct Authority (FCA) lines up new corporate disclosure measures, the Treasury Committee and NGO ShareAction have launched separate examinations of the performance of asset managers against key Environmental, Social, and Governance (ESG) metrics.
WaterAid: Global climate finance insufficient to 'save lives and livelihoods'
Half of all countries receive less than £4 per person, per year, to spend on climate mitigation and adaptation, with developing nations facing the earliest and worst climate impacts among the most underfunded.
Financial Reporting Council launches 'major' review of corporate climate reporting
The Financial Reporting Council (FRC) is set to launch a major review into the quality of how companies and auditors are reporting on climate change impacts and risks, including the pace at which the Task Force on Climate-related Financial Disclosures (TCFD) framework has been adopted.
Fresh funding for initiative to help investors support sustainable fashion
Laudes Foundation, Brenninkmeijer family's recently-launched philanthropic organisation, has backed a project working to engage investors with sustainable fashion, in a bid to scale up low-carbon, resource-efficient materials and business models across the global sector.
'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.
edie launches business guide to Streamlined Energy and Carbon Reporting
edie has launched a business guide into the important issue of Streamlined Energy and Carbon Reporting (SECR) as the first full financial year since the scheme was introduced in April 2019 draws to an end.
Report: Half of world's largest businesses haven't pledged to end supply chain deforestation
Of the 350 corporates and 150 investor bodies with the world's highest involvement in supply chains with high deforestation risks, around half have not publicly committed to eliminate deforestation from their value chains.
Five key takeaways from edie's net-zero energy masterclass
Last week, edie undertook a masterclass with Smartest Energy on evolving your energy strategy for net-zero, which included a case study with property giant JLL.
Report: Heavy industry making "slow progress" on Paris Agreement
A new study has shown there has been slow progress on climate action in high-emitting industries, with just one in five corporates operating in line with a 2C trajectory.
Fast food firms failing to face up to climate challenges, investment giants warn
Some of the world's biggest fast food brands including Domino's, Chipotle and Burger King are failing to take "real" action on environmental issues including climate change and water.
Green bond issuance soared to $185bn in 2019, report reveals
Global green bond issuance last year reached an all-time high in terms of both individual bonds issued and collective value issued, global law firm Linklaters has concluded.
Comic Relief among charities pledging to end fossil fuel investments
Comic Relief, Power to Change, and Guy's and St Thomas' Charity are the latest organisations that have committed to end all fossil fuel investment and adopt a new ethical approach to investing, after joining the Funder Commitment on Climate Change.
Brunel Pension Partnership launches new finance strategy to align with net-zero future
The group overseeing £30bn worth of investments for 10 local government pension scheme funds has pledged to align its management practices with the Paris Agreement.
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.
SDG500: Investors commit $500m to help developing nations achieve SDGs
A new coalition has been launched to mobilise a $500m (£380m) investment platform to help achieve the Sustainable Development Goals (SDGs) by targeting businesses operating in developing countries.
Mark Carney announced as Boris Johnson's finance advisor for COP26
Prime Minister Boris Johnson has appointed the departing Governor for the Bank of England Mark Carney as his Finance Advisor for the COP26 climate summit, taking place in Glasgow at the end of the year.
Aviva Investors: Better corporate disclosure needed to help sustainable finance go mainstream
EXCLUSIVE: Investment firms are heeding climate warnings and honing their approach to sustainability, but ultimately need more information from the businesses in their portfolios in order to drive transformational change.
Bank of England planning mandatory climate 'stress tests' for banks and insurers
The Bank of England has unveiled plans to introduce a mandatory and uniform climate risk test for major banks and insurers in 2021.
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.
Boardroom blocks: Less than 10% of UK CEOs have financial bonuses to combat climate change
Only 6% of UK chief executives have financial incentives and bonuses tied to environmental strategies and performance across the business practice, a new study has found.
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.
'Set legally binding net-zero target now', investors urge EU leaders
A coalition of more than 40 investors collectively representing upwards of €6trn of assets under management has written to all EU heads of state, urging them to set legislation in line with net-zero by 2050 or sooner.
Investors and businesses call for action to support deforestation-free soy in Brazil
A group of global investors and businesses, including Tesco, Mars and Sainsbury's, have signed a letter calling for the Brazilian Government and president Jair Bolsonaro to support a voluntary agreement that has limited deforestation from soy production in the country.
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.
Investment in UK renewables 'picking up pace' despite Brexit concerns
The UK has risen up the top 10 in a ranking of the world's most attractive national markets for renewable energy investment, with offshore wind progress outweighing concerns over the potential impacts of Brexit.
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.
European Investment Bank to end financial support for fossil fuels by 2021
The European Investment Bank (EIB) has unveiled a new energy lending policy that will stop all financing for fossil fuel projects at the end of 2021 and unlock €1trn in sustainable development over the next decade.
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.
Superficial progress: Global banks failing to deliver time-bound climate strategies
A new report has accused the banking sector of superficial progress when it comes to climate commitments, noting that uptake in low-carbon services, green bonds and reporting standards isn't being matched by demands to decarbonise portfolios.
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).
Sky backs TerraCycle's 'zero-waste' refill platform with £1.5m investment
Media giant Sky's Ocean Ventures investment arm has committed $2m (£1.56m) to TerraCycle's Loop platform - an offering whereby businesses provide product refills to consumers while retaining ownership of their reusable packaging.
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.
Aldersgate Group: UK must make TCFD reporting mandatory to reach net-zero
The UK will not meet its 2050 net-zero goal unless corporates and investors are legally mandated to report on their climate risks and the actions they are taking to mitigate them, the Aldersgate Group has warned.
'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.
One year on: How the IPCC report has redefined sustainable business leadership
One year ago today (8 October), the Intergovernmental Panel on Climate Change (IPCC) published what it described as its "landmark" report on global heating. While the pressure the paper's findings would place on governments was obvious from day one, the study's impact on business has been continually evolving - as explored by edie reporter Sarah George.
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.
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.
'Unprecedented': Investors responsible for $2.4trn commit to net-zero alignment
A group of finance giants, collectively responsible for investments worth $2.4trn, have committed to ensuring that their respective portfolios are carbon-neutral by 2050.
Embodied carbon: WorldGBC embarks on 'radical' new approach towards net-zero
EXCLUSIVE: The World Green Building Council (WorldGBC) has issued a new report outlining how companies in the sector can focus on both operational and embodied carbon to reach net-zero emission buildings by 2050, warning the companies ignoring this new approach could be "outpaced by the innovators".
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.
Net-zero cities can unlock $24tn opportunity, report finds
Investment into readily available technologies could reduce emissions from cities by 90% by 2050, while creating a global economic benefit worth almost $24trn (£19trn), a new report has claimed.
Pope and Archbishop of Canterbury urge 'drastic measures' on climate change
Both Pope Francis and Archbishop of Canterbury Justin Welby have called for greater global action to tackle climate change, in speeches made to mark the UN Climate Summit and the Global Ethical Finance Summit respectively.
Equator Principles: Global banks failing to uphold environmental and social risk agreements
An investor coalition representing more than $2.9trn has urged global banks to strengthen efforts that protect the rights of indigenous people and the environment that they rely on.
Amazon rainforest fires: We must rise above the egos and insults threatening climate change policy
As the 'lungs of the Earth' continue to burn, discussions at international summits have devolved into a circus of egos and insults that suggest that future collaborative efforts to combat climate change will revolve around petty but powerful people who can't see the wood for the burning rainforest.
Seven steps to solution-focused sustainability
Sustainability has rarely offered such a dynamic and inspiring opportunity for organisations to build competitive advantage, differentiate their brand and engage their people.
University of Liverpool to divest entirely from fossil fuels
The University of Liverpool has become the latest higher education facility in the UK to commit to removing fossil fuel investments from its portfolio, following pressure from students and staff.