Norway embraces TCFD
Axa drops RWE as customer
NBIM says investment exclusions could cost it NOK3bn a year
The manager of the giant Norwegian sovereign wealth fund said its portfolio underperformed by 1.3 percentage points due to exclusions of companies based on environmental, social and governance (ESG) concerns since 2006, which could cost it NOK2.8 billion ($300 million) in 'lost' returns if replicated in the future.
IFC tightens coal phase-out conditions on financial clients
The International Finance Corporation (IFC) has strengthened its approach to thermal coal investment exposure among its financial institution clients, announcing it will not make equity investments in firms that do not have a phase-out plan in place.
Deutsche Bank's tightened fossil fuel policy judged 'unambitious'
Deutsche Bank has tightened its fossil fuel policy to include exiting from coal mining investments by 2025, strengthening its stance towards coal power and restricting oil and gas sector financing - but campaigners continued to criticise the lender for its lack of ambition.
Major European banks provided large-scale financial support to coal industry
European banks including Barclays, BNP Paribas and Societe Generale loaned billions of euros to coal companies across the EU in 2019, according to a report.