Climate change: Investors with $32 trillion at stake sound the alarm
6 years, 1 month ago

Climate change: Investors with $32 trillion at stake sound the alarm

CNN  

London CNN Business — Investors managing assets worth $32 trillion have called on governments and businesses to step up efforts to tackle climate change. A group of 415 investors warned Monday of an “ambition gap” between steps governments have promised to take, and the actions needed to meet goals set out in the Paris climate agreement. The statement from the Institutional Investors Group on Climate Change has been endorsed by financial heavyweights including HSBC, Nomura Asset Management and UBS Asset Management. “We keep making the same fair ask … we request these companies to align their targets with the Paris Climate Agreement,” said Mark van Baal, the group’s leader.

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History of this topic

Hopes of trillion dollar climate fund dim at Cop29 after developed countries fail to offer commitment
1 month, 3 weeks ago

Hopes of trillion dollar climate fund dim at Cop29 after developed countries fail to offer commitment

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “It’s like developed countries are saying the dog ate their homework.” open image in gallery Activists demonstrate for climate …

COP29 negotiators seek climate finance deal as deadline looms
Trending News
1 month, 3 weeks ago

COP29 negotiators seek climate finance deal as deadline looms

Al Jazeera  

Vulnerable nations are seeking $1.3 trillion to deal with damage from climate change and to adapt to that change. With time running down, negotiators at the United Nations’ annual climate talks have returned to the puzzle of finding an agreement to bring far more money for developing countries to adapt than wealthier countries have shown they are willing to pay. …

Countries at COP29 urged to invest trillions to cope with climate change
2 months ago

Countries at COP29 urged to invest trillions to cope with climate change

Al Jazeera  

Countries need to invest more than $6 trillion per year by 2030 to tackle the effects of climate change or risk having to pay more in the future, according to report by an independent panel of experts at a United Nations climate summit. “Investments in all areas of climate action must increase across all economies,” said the report published on …

UK says £58bn climate finance tool to launch on London Stock Exchange
2 months ago

UK says £58bn climate finance tool to launch on London Stock Exchange

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy A finance scheme designed to …

UN report calls for trillion of dollars in climate finance to aid developing countries
2 months, 1 week ago

UN report calls for trillion of dollars in climate finance to aid developing countries

Live Mint  

Developing nations will need around $1.1 trillion annually in climate financing by 2025, a figure expected to climb to $1.8 trillion by 2030, according to a new report by the United Nations Conference on Trade and Development. The report outlines a daunting roadmap for climate finance and calls for developed countries to meet escalating financial commitments to support global climate …

Climate accountability: Disclose more, put checks before financing mega projects
7 months, 4 weeks ago

Climate accountability: Disclose more, put checks before financing mega projects

New Indian Express  

The ‘Draft Disclosure Framework on Climate Related Financial Risks’ released by the RBI in February enjoins financial institutions, such as banks, to provide the public detailed information on how they are addressing risks to their investments arising from the climate crisis. Big-ticket investments by FIs in sectors like infrastructure and energy face direct physical risks from environmental changes like rise …

HSBC Asked by $890 Billion Investor Group to Set New Energy Goal
8 months, 1 week ago

HSBC Asked by $890 Billion Investor Group to Set New Energy Goal

Live Mint  

A group of HSBC Holdings Plc investors wants the bank to set a funding target for renewable energy amid concerns its current green pledges are too vague. HSBC’s current $750 billion to $1 trillion sustainable-finance goal for 2030 is formulated in such a way that “investors don’t have enough information about how exactly this will be spent to know if …

Developed nations pledge $9.3 billion to global climate fund at gathering in Germany
1 year, 3 months ago

Developed nations pledge $9.3 billion to global climate fund at gathering in Germany

Associated Press  

VIENNA — Developed countries pledged $9.3 billion to help poor nations tackle climate change at a conference held in the German city of Bonn on Thursday, authorities said. A U.S. administration official later said that Washington is “steadfastly committed to President Biden’s pledge to increase U.S. climate finance to help developing countries tackle the urgent threat of climate change but …

HSBC updates climate policy to stop funding new oil and gas
2 years, 1 month ago

HSBC updates climate policy to stop funding new oil and gas

Associated Press  

HSBC, Europe’s biggest bank, announced Wednesday it will no longer finance new oil and gas fields as part of its updated climate strategy. The bank said it would still provide financing to existing fossil fuel projects “in line with current and future declining global oil and gas demand.” It would also continue to provide finance and advisory services to energy …

Behind the smokescreen around private climate finance
2 years, 2 months ago

Behind the smokescreen around private climate finance

The Hindu  

Over the last few years, developed countries have insisted upon two points on the issue of climate finance. The OECD 2020 data, however, shows that the mobilisation of private climate finance has underperformed against the expectations of developed countries falling short by 60 percentage points, $13.1 billion in 2020 against $33 billion in the road map. Further, although many developed …

Investors bet big on climate fight but motives questioned
3 years, 2 months ago

Investors bet big on climate fight but motives questioned

Associated Press  

GLASGOW, Scotland — Governments and big investors announced fresh plans Wednesday to pour trillions of dollars into curbing global warming, reflecting the financial world’s growing embrace of efforts to fight climate change as both a business necessity and opportunity. Speaking at the U.N. climate summit in the Scottish city of Glasgow, Britain’s Treasury chief Rishi Sunak said that while countries …

Four Key Issues To Watch Out for at G-20 Meet Ahead of Glasgow Climate Summit
3 years, 2 months ago

Four Key Issues To Watch Out for at G-20 Meet Ahead of Glasgow Climate Summit

The Quint  

Underpinning progress on all issues is the question of finance. In 2009 and again in 2015, wealthy countries agreed to provide $100 billion a year in climate finance for developing nations by 2020, but they haven’t reached that goal yet. With one week to go, the United Kingdom revealed a climate finance plan, brokered by Germany and Canada, that would …

Climate change’s trillion dollar problem just got more urgent for investors
3 years, 5 months ago

Climate change’s trillion dollar problem just got more urgent for investors

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. A UK Treasury spokesperson told The Independent that the government is “committed to the UK being the best place …

Companies are crucial to solving the climate crisis. 75% are falling short
3 years, 8 months ago

Companies are crucial to solving the climate crisis. 75% are falling short

CNN  

London CNN Business — Less than a quarter of the world’s big public companies are doing their part to address the climate crisis, according to new research highlighting the shortcomings of corporate climate pledges. In an analysis published on Thursday, sustainable finance firm Arabesque assigned companies in 14 of the world’s largest stock indexes a “temperature score” based on publicly …

JPMorgan is deploying $2.5 trillion to fight the climate crisis and inequality
3 years, 9 months ago

JPMorgan is deploying $2.5 trillion to fight the climate crisis and inequality

CNN  

New York CNN Business — America’s largest bank is adding some serious firepower to the fight against climate change and inequality. JPMorgan Chase announced Thursday that it aims to finance or facilitate investments of $2.5 trillion over 10 years to support solutions that address climate change and contribute to sustainable development. Since the Paris climate agreement was reached in 2015, …

Investors turn up heat on HSBC to phase out fossil fuel funding
3 years, 10 months ago

Investors turn up heat on HSBC to phase out fossil fuel funding

Al Jazeera  

Banking giant commits to ending support for coal by 2040 as shareholders push HSBC to align itself with climate goals. HSBC’s announcement reinforces how the world’s biggest financial firms are bowing to mounting public and political pressure to join the battle against climate change, by reducing their funding of fossil fuel companies and encouraging clients in other sectors to cut …

Bezos plans to spend $10 billion by 2030 on climate change
3 years, 10 months ago

Bezos plans to spend $10 billion by 2030 on climate change

Associated Press  

NEW YORK — Amazon CEO Jeff Bezos plans to spend the $10 billion he invested in the Bezos Earth Fund by 2030, the fund’s new CEO said Tuesday. “The Earth Fund will invest in scientists, NGOs, activists, and the private sector to help drive new technologies, investments, policy change and behavior,” Steer tweeted. “We will emphasize social justice, as climate …

Stocks week ahead: The climate crisis is looming large on Wall Street
4 years, 1 month ago

Stocks week ahead: The climate crisis is looming large on Wall Street

CNN  

A version of this story first appeared in CNN Business’ Before the Bell newsletter. What’s happening: The European Central Bank said last week that it will start conducting “in-depth” assessments of how bank balance sheets account for climate risks in 2022. “Ensuring that banks’ balance sheets also reflect climate-related and environmental risks is a prerequisite not only for the resilience …

Davos 2020: US bankers don’t want to lead the fight on climate change
4 years, 11 months ago

Davos 2020: US bankers don’t want to lead the fight on climate change

CNN  

London CNN Business — America’s most powerful bankers don’t want to lead the way in tackling the climate crisis. “It’s not to dictate outcomes.” Goldman Sachs CEO David Solomon, speaking on a separate panel, alsopushed back on the idea that the investment bank should decline to work on deals with certain companies because of their lack of green credentials. Fink …

World's Largest Asset Manager Puts Climate At The Center Of Its Investment Strategy
5 years ago

World's Largest Asset Manager Puts Climate At The Center Of Its Investment Strategy

NPR  

World's Largest Asset Manager Puts Climate At The Center Of Its Investment Strategy Enlarge this image toggle caption Ludovic Marin/AFP via Getty Images Ludovic Marin/AFP via Getty Images BlackRock, the world's largest asset manager, says that it will now make climate change central to its investment considerations. "The evidence on climate risk is compelling investors to reassess core assumptions about …

US & EU must pay 54 percent of the climate action costs, says civil society groups
5 years, 1 month ago

US & EU must pay 54 percent of the climate action costs, says civil society groups

Firstpost  

A new report by more than 100 civil society organisations holds the United States and the 27-country bloc European Union responsible for 54 percent of the cost of climate change adaptation and mitigation. The report comes as representatives of countries around the world meet at Spain’s capital Madrid for the annual climate discussions, the 25th Conference of the Parties to …

Climate change warning for banks: Do something or see asset prices collapse
5 years, 8 months ago

Climate change warning for banks: Do something or see asset prices collapse

CNN  

London CNN Business — Central bankers and finance regulators have warned banks to act urgently to fight climate change or risk going bust. The group warned that climate risks are not being properly reflected in asset prices, and they pledged to take steps that will make banking more responsible and “green.” “The enormous human and financial costs of climate change …

World Bank to invest $200bn to fight climate change
6 years, 1 month ago

World Bank to invest $200bn to fight climate change

The Independent  

Sign up to the Independent Climate email for the latest advice on saving the planet Get our free Climate email Get our free Climate email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The World Bank has announced it will be investing $200bn to help poor countries prepare …

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