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Investors worth £5trn push BP for a 'say on climate', amid concerns it will abandon 2030 target
19 February 2025A group of institutional investors has urged BP to hold a shareholder vote on its climate transition plans, amid "concern" at reports the oil and gas company will abandon a key decarbonisation target.
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Decline in energy sector's EU taxonomy alignment bucks positive trend in other sectors
27 January 2025Energy companies reported a decline in their alignment with the EU taxonomy last year, bucking a trend of increased alignment in most other sectors which data provider Bloomberg said bolstered the use case for the taxonomy.
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Account for 'stranded asset' risks alongside transition plan rules, EU advised
23 January 2025The EU should create a framework to account for the depreciation of highly polluting assets "at risk of becoming stranded" to help financial institutions assess the credibility of transition plans, it has been told by advisers.
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Life and health insurers begin exploring underwriting emissions reductions
16 December 2024Life and health insurers are starting to explore the potential of reducing greenhouse gas (GHG) emissions through their underwriting practices.
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Goldman Sachs leaves Net Zero Banking Alliance
08 December 2024Goldman Sachs has left the Net Zero Banking Alliance (NZBA), it said in a statement.
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US braced for stifling impact of Trump presidency on bank climate regulation
03 December 2024Climate-related regulation of US banks is set to stagnate "at best" and faces the prospect of anti-ESG rulemaking at federal level, according to a prominent former regulator.
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Aviva to integrate nature into transition plan
02 December 2024Aviva is to integrate nature into the second version of its transition plan, a conference heard.
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Texas sues BlackRock, State Street and Vanguard over ESG strategy on coal
28 November 2024Texas' Attorney General has sued BlackRock, State Street Corporation, and Vanguard Group, alleging they were "conspiring to artificially constrict the market for coal through anticompetitive trade practices" relating to their ESG strategies.
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Mitigation needs work for COP30 after 'basically no outcome' at COP29
27 November 2024After a 'mitigation-lite' COP29 event, the Swedish COP negotiator said the next climate summit needs to focus on getting a "clear mechanism" in place to deliver the ground-breaking deal to transition away from fossil fuels agreed at COP28.
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Webinar: COP29 a missed opportunity to support private sector transition planning
22 November 2024A lack of progress on negotiations at COP29 is undermining hopes that countries could support the creation of an international framework that would support private sector transition planning, a webinar hosted by the IFC and Environmental Finance heard.