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ESG news round-up: Calvert joins Morgan Stanley; CofE drops ExxonMobil; HSBC in net-zero pledge

PRI ejects first five signatories for failing minimum standards

The UN Principles for Responsible Investment (PRI) has for the first time booted out five signatories for failing to meet the minimum requirements, with a further 15 signatories at risk of being delisted in 2021.

Most financial institutions don't push for ambitious EU sustainable finance strategy

Many financial institutions are failing to support an ambitious EU sustainable finance strategy, according to a report on lobbying by NGO InfluenceMap, with just a handful supporting and actively engaging with the European Commission's policy.

Net zero transition to cost $1-2tn a year, say energy companies

Achieving net-zero emissions worldwide by 2050 will cost $1-2 trillion a year, around 1.5% of global GDP, according to a report from coalition The Energy Transitions Commission (ETC).

CA100+ creates benchmark for net-zero emissions

Engagement initiative Climate Action 100+ (CA100+) has developed a tool for companies to use when developing strategies for transitioning to net-zero carbon emissions.

Does private education have a place in an impact investment strategy?

There is a strong argument that private education has no place in impact investing. The reality is a lot more complicated, says UBP's Eli Koen

BP outlines oil production cuts and bolsters net-zero carbon ambition

BP has announced it will cut oil and gas production by two-fifths and increase its low-carbon investments ten-fold by 2030 in order to achieve its net-zero carbon ambition, whilst also halving its dividend.

Consultation opens on climate change lobbying framework

The consultation on a framework to help investors assess the extent to which a company's lobbying is aligned to the Paris Agreement has been opened, after three investors launched the project earlier this month.

Transition finance guidelines to be published 'by end of year'

A working group convened by the International Capital Market Association (ICMA) exploring the theme of 'climate transition finance' expects to publish guidelines by the end of the year, but stopped short of saying when a formal set of principles might be launched.

Total becomes next oil major to feel shareholder climate pressure

French supermajor Total has become the latest oil firm to face rising pressure from shareholders at its annual general meeting (AGM) over it environmental ambitions.