Archive

News Round Up: PRI, Global Coal Exit List, Copenhagen Infrastructure Partners, EIB

Science Based Targets initiative launches financial sector framework

Science Based Targets initiative (SBTi) has launched its "breakthrough" pilot framework for financial institutions to set science-based climate targets, but campaigners were "disappointed" and "disturbed" by what they perceive to be shortcomings.

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.

Banks' fossil fuel commitments accelerate as pressure intensifies

Norwegian oil fund exits stakes in 12 firms on ESG concerns

The 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.

Allianz tightens coal exposure policy

German insurer Allianz plans to exclude companies from its property and casualty (P&C) insurance portfolios which fail to present "a credible transition strategy away from coal".

Santander criticised for investments in Polish coal expansion

Spanish banking giant Santander has faced criticism for its investment in Polish state-run energy group PGE and Energa Group.

Investors urged to act as majority of coal companies still expanding

As millions around the world take to the streets for the global climate strike a report by Global Coal Exit List (GCEL) reveals over half, 400 of 746, of the largest companies with significant coal exposure are still planning to expand their coal operations.

Coal utilities boosted by €16bn since Paris Agreement, say NGOs

Eight 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.