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French bank Société Générale is targeting reducing its oil and gas exposure by four-fifths by 2030 as well as launch a €1 billion ($1.1 billion) transition fund.

The Net-Zero Asset Owner Alliance (NZAOA) said it expects its $11 trillion of investor members to stop investing in new oil and gas projects, but its guidance was criticised for being less specific on oil and gas companies.

The withdrawal of Vanguard from the Net Zero Asset Manager initiative (NZAM) could be a great opportunity for the initiative to clarify its aim and push members for greater action on passive assets, a campaigner told Environmental Finance

The Glasgow Financial Alliance for Net Zero (GFANZ) has scrapped its requirement for members to align with a campaign requiring a fossil fuel phase-out.

Members of the Net Zero Asset Owner Alliance (NZAOA) need to do more to tackle their impact on absolute greenhouse gas emissions, including from oil & gas and coal, non-profit Reclaim Finance has said.

Swiss asset manager GAM Investments has set decarbonisation targets for 36% of its investment management assets - but said methodology and data issues restricted it from setting comprehensive targets.

And will require 'net-zero by 2050' commitment from hydrocarbon producers

A group of civil society organisations has written to Michael Bloomberg and Mark Carney to demand the $138 trillion financial sector coalition they co-chair to step up its game, in a letter that complained the initiative had shown no signs that it has achieved anything.

A group of 11 investors have filed a shareholder resolution at TotalEnergies ahead of its AGM on 25 May, urging the French oil supermajor to set and publish targets that are consistent with the Paris Climate Agreement.