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'Uninsurable' assets is 'direction of travel' amid extreme weather
11 September 2023ABN Amro has warned that assets are increasingly becoming "uninsurable" due to the impact of extreme weather caused by climate change, as insurers respond to rising loss risk by hiking premiums and reducing exposure.
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USS unveils own climate scenarios to address inadequacies in widely used models
07 September 2023UK pension fund USS has published four climate scenarios that it says "better reflect the real-world risks and opportunities that frame our investment decision-making over the short- and medium-term", as it criticised widely-used models as "inadequate".
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ECB warns fossil-fuel-exposed banks they risk €21bn in annual losses by 2029
06 September 2023The European Central Bank (ECB) has delivered its starkest warning to-date of the damage a delayed transition to a net zero economy would inflict on the financial system.
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ECB: Banks are 'on the horizon' of climate litigation surge
05 September 2023A senior European Central Bank (ECB) official has warned banks to "get up to speed" with rising climate-related litigation risk as he expects regulation and recent legal successes to result in an escalation of cases against banks.
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NatWest: Transition plans still tricky under EU SFDR
04 September 2023Uncertainty still reigns among fund managers around how to handle investee transition plans under the EU Sustainable Finance Disclosure Regulation (SFDR), according to NatWest.
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Many climate scenarios of limited use, as they don't model most likely case - Abrdn
30 August 2023Widely used models for projecting future impacts of the energy transition are of limited use for investors as they fail to project the most likely level of warming, an investor has argued.
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HKMA sets 'transition principles' for banks
30 August 2023The Hong Kong Monetary Authority has called on banks to follow a set of high-level principles for transition planning.
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SBTi's financial sector framework will enhance its credibility, says IEEFA
25 August 2023The Science Based Targets initiative's (SBTi) proposed standards for financial institutions will help boost the initiative's credibility, says the Institute for Energy, Economics and Financial Analysis (IEEFA) - although there is still room for improvement.
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Banks: 'Real climate liability' risk from transition plan failings
17 August 2023Banks face "very real" climate liability risk if their transition plans are fall short in capturing the full extent of their emissions, according to a report by lawyers.
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US asset manager climate ambition 'reversed' amid ESG backlash, research says
01 August 2023US and Japanese asset managers have been named the worst offenders for climate inaction, with the climate ambition of US managers "reversing" progress from recent years, according to analysis by InfluenceMap.