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The lack of readiness of banks to assess their exposure to climate risks is both alarming and shameful, according to a prominent North American asset manager.

Financial firms managing more than €12 trillion ($13.6 trillion) in assets have now signed the Finance for Biodiversity Pledge after nine new signatories joined the initiative, including Nordea Asset Management and Kempen.

A tussle is developing over whether mandatory climate disclosures in the US should feature in the closely scrutinised annual regulatory filings or as a separate document, with some major firms opposing inclusion in annual filings but some significant investors backing such a move.

The Partnership for Carbon Accounting Financials (PCAF) has launched a methodology which intends to enable banks to measure and disclose the emissions associated with their financed activities.

With banks' sustainability commitments under fire, are science-based targets the answer, asks Christopher Marchant

Boston Common Asset Management (BCAM) has criticised the increasing number of methodologies used to assess how a bank's sustainable financing commitments impact its portfolio, as a distraction from core climate goals.

Bank of America (BoA) has joined the Partnership for Carbon Accounting Financials (PCAF), the third major US lender to join the initiative in the past week, as pressure builds on financial institutions to tackle the emissions of their lending and investment portfolios.

The UN-backed Principles for Responsible Investment (PRI) has laid out investor expectations for the aviation sector in the transition to a low carbon economy.

Less than two-fifths of banks have demanded anti-deforestation policies from the companies they lend to, according to a report from Boston Common Asset Management (BCAM).

A proposed revision of the Equator Principles does not go far enough in respecting the rights of indigenous peoples affected by major investment projects, according to more than 50 institutional investors.