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Deutsche Bank's tightened fossil fuel policy judged 'unambitious'
28 July 2020Deutsche 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.
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Major European banks provided large-scale financial support to coal industry
15 July 2020European banks including Barclays, BNP Paribas and Societe Generale loaned billions of euros to coal companies across the EU in 2019, according to a report.
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Norwegian oil fund exits stakes in 12 firms on ESG concerns
13 May 2020The giant Norwegian oil fund has excluded a dozen companies from investment due to environmental, social, and governance (ESG) concerns, including mining giants such as Anglo American, Glencore and Vale in which it was a major shareholder.
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Investors welcome strengthened Anglo American climate lobbying policy
23 December 2019Major investment firms have welcomed the mining giant Anglo American agreeing to align its lobbying activity to the goals of the Paris Agreement.
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E.ON pens €3.5bn ESG-linked loan in wake of Innogy merger approval
25 October 2019Energy company E.ON has agreed a €3.5 billion ($3.9 billion) revolving credit facility, the interest rate on which is linked to the firm’s environmental, social and governance (ESG) rating.
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Coal utilities boosted by €16bn since Paris Agreement, say NGOs
21 May 2019Eight financial institutions have given Europe's 'most polluting utilities' almost €16 billion ($17 billion) in support since the Paris Agreement was signed in December 2015, a new briefing by NGO Europe Beyond Coal has found.
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EU carbon market update, 13 May 2019
13 May 2019In last week's update we said that there were few fundamental reasons for EUAs to test the year's highs, but nonetheless they gave it a good try!
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Norwegian pension fund manager divests from coal companies
08 May 2019Norwegian mutual insurance company KLP, which manages the pension funds of municipal employees, has sold NOK3.2 billion ($365 million) of exposure to 46 companies profiting from coal-based operations.
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CA100+ investors welcome BASF, RWE climate lobbying pledge
03 May 2019Pledges by chemicals giant BASF and German utility RWE to review their lobbying activities on climate change have been welcomed by a group of investors including Union Investment, the Church of England Pensions Board and Sweden’s AP7 pension fund.
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EU carbon market update, 23 April 2019
23 April 2019There were small gains for carbon last week, continuing the recent bull run, albeit only just. The week closed up 31c at €26.89 having been in 'holiday mode' for much of the week. We went into the week with a bullish outlook based on the low auction supply but expected some risk-off trading by long speculators as we approached the Easter weekend, and so it transpired. There were three days of gains followed by a decline on the fourth day with traded volumes tailing off as the week progressed.