Stranded Assets

CSRD, SEC climate disclosure setbacks make rating climate risk harder, S&P warns

Setbacks to the planned introduction of sustainability reporting rules in the EU and US are likely to make assessing the climate-related credit risk of companies harder, a senior executive at S&P has said.

Investors set to demand change on BP climate stance at AGM

NZBA ditches requirement to target 1.5°C alignment to give banks more 'flexibility'

The Net-Zero Banking Alliance (NZBA) has approved changes to its framework to no longer require targeting 1.5°C alignment - instead allowing members to choose from "a wider range of net-zero pathways ... to limit global temperature rise to 'well below 2°C' and to strive for 1.5°C".

Climate policy pendulum may bring near-term relief but longer-term pain, S&P says

Weakened climate-related policy in the US and Europe does not necessarily mean companies are exposed to less climate-related financial risk - with near-term relief tinged with the prospect of longer-term pain, according to credit ratings agency S&P.

Investor hesitation to back climate proposals leads shareholders to shelve resolutions

Shareholder group Follow This has, for the first time since 2016, abandoned plans to file a climate-related resolution with oil and gas majors, as it blamed "investor hesitation" to back such proposals on US attacks on shareholder democracy.

'Investors need to question' oil & gas companies on weakened climate targets

Axa IM 'downgrades' and 'may reduce exposure to' companies that weakened climate targets

European fund management giant Axa Investment Managers has "downgraded" companies that weakened their decarbonisation targets and is considering selling some of its holdings in these companies due to perceived increased risk, a sustainability head said.

Global stranded assets exposure is $2.3trn, estimates say

Investors worth £5trn push BP for a 'say on climate', amid concerns it will abandon 2030 target

A 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.

Raise insurers' capital requirements for fossil fuel assets, EU urged

Decline in energy sector's EU taxonomy alignment bucks positive trend in other sectors

Energy 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.

Account for 'stranded asset' risks alongside transition plan rules, EU advised

The 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.

Life and health insurers begin exploring underwriting emissions reductions

Life and health insurers are starting to explore the potential of reducing greenhouse gas (GHG) emissions through their underwriting practices.

UK government should address legal issues in transition plan rules, WWF says

Goldman Sachs leaves Net Zero Banking Alliance

Goldman Sachs has left the Net Zero Banking Alliance (NZBA), it said in a statement.