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Some 20% of Phoenix's listed equity and credit portfolios are exposed to sectors at high risk in the transition to a net-zero economy, such as energy, utilities, industrials and materials.

Aviva has divested almost all its £2.5 billion ($3 billion) exposure to fossil fuel companies on its "Stoplist" of firms with weak ambitions to reduce their climate impact.

Zurich has excluded five companies from its investment and underwriting activities as it no longer considered their "progress against transition plans to be credible".

Asset managers grappling with the energy transition have been urged to prioritise engaging on companies' capital expenditure (capex) plans.

Federated Hermes' EOS stewardship platform has defended say-on-climate votes, after an asset manager said it would abstain from taking part over concerns they might limit investors' ability to challenge strategies in the future.

The bulk of capital needs to flow to companies that are not yet aligned with the goals of the Paris climate agreement but need investment to help them shift, Mark Carney has said.

Environmental Finance's sister publication Insurance Asset Risk and J.P. Morgan Asset Management have launched the third edition of their annual research report into the sustainable investing practices of insurers.

A proposed framework will create a "common language" to help investors better understand countries' climate risk and opportunities, and engage with them on the subject, one of its creators said.

Climate resilience is likely to be a key driver for investors in 2023, and continue to have significant implications for thematic investing, BlackRock has said.

Impact specialist Mirova said it expects "very soon" to reach a first close on a blended finance fund that will invest in renewable energy in Africa, Asia and Latin America