Michael Hurley

Articles by Michael Hurley

  • Banks' disproportionate lending to high-emitting sectors poses stability risks, ECB warns

    19 December 2023

    Eurozone banks lend "disproportionately" to high-emitting sectors and thereby risk financial instability, the European Central Bank (ECB) has warned, as it called for a tougher strategy to tackle such risks that could include increased capital requirements.

  • Investor interest spurs PRI to consider expanding sovereign engagement pilot

    18 December 2023

    Rapidly growing interest among investors to collaboratively engage with countries on their climate strategies has led Principles for Responsible Investment (PRI) to study whether it can extend a pilot exercise to other sovereign issuers.

  • Fund managers face tougher 'sustainable' fund name test under EU rules

    15 December 2023

    Fund managers seeking to market their products as 'sustainable' must ensure that a minimum of 80% of their investments match the description, if they are to meet toughened guidelines due to be published by the EU regulator next year.

  • Investors devise long wish list for much-maligned SFDR

    15 December 2023

    Every financial product sold in the EU should be required to disclose sustainability information under the much-maligned Sustainable Finance Disclosure Regulation (SFDR), Europe's largest asset manager has said.

  • Updated: Financial institutions partially exempt from supply chain due diligence under 'milestone' rules

    14 December 2023

    The finance sector will be exempt from carrying out environmental and social due diligence of companies 'downstream' in the supply chain under newly agreed EU rules, in a victory for lobbyists who claimed it would add disproportionate costs and unfairly expose institutions to legal claims.

  • ICMA publishes ESG ratings and data code of conduct

    14 December 2023

    The International Capital Market Association (ICMA) has published a voluntary 'code of conduct' for ESG ratings and data products.

  • Call for EU to create 'taxonomy-aligning' benchmarks

    13 December 2023

    The EU Platform on Sustainable Finance has proposed 'taxonomy-aligning' benchmarks that would select constituents based on the percentage of their investments in activities aligned with the EU's taxonomy.

  • COP28 deal to transition away from fossil fuels 'keeps 1.5°C alive' - but loopholes remain

    13 December 2023

    Countries have agreed to transition away from fossil fuels in an historic first for a UN climate conference, with claims it "keeps 1.5°C alive" - but observers warned of several "loopholes" that could undermine its implementation.

  • Policy engagement more important if COP28 disappoints, investor says

    12 December 2023

    Institutional investors are likely to sharpen their focus on pushing policymakers for a more supportive framework for net zero-aligned private investment in the event of an "underwhelming" UN climate conference, a director at Rathbones has said.

  • UK delays 'green' taxonomy consultation until next year

    11 December 2023

    The UK Treasury has again delayed publication of its draft 'green' taxonomy, which it now expects to publish for consultation next year, Environmental Finance can reveal.