Stranded Assets

The Asia Pacific chapter of the Glasgow Financial Alliance for Net Zero (GFANZ) has published guidance for financing the early retirement of coal-fired power plants.

Allianz, Axa and Scor have withdrawn from the Net-Zero Insurance Alliance (NZIA), taking the total number of departures from the coalition to seven.

The UK life insurer sets out five key targets to reach interim targets

Proxy advisor Pensions and Investment Research Consultants (PIRC) has recommended that investors oppose mining and commodities trading giant Glencore's climate progress report over the inadequacy of its current targets and plans.

Just Energy Transition Partnerships (JETP) still need to solve the challenge of how coal asset owners can be compensated for early retirement of their assets, Eastspring Investments has said.

Chubb's board of directors has said it has no control over its insureds' emissions and no basis to know how any change in its underwriting or investment activity would reduce such emissions.

Morningstar Sustainalytics has provided further details of its recently launched Low Carbon Transition Ratings, revealing that only one company it has assessed so far is currently aligned to a 1.5°C pathway.

Unless a material price on carbon is reached and governments come up with 'sectoral transition frameworks', the world faces a threat to international security and financial stability, according to Aviva Investors.

Bank of America, JP Morgan Chase and Goldman Sachs are preparing to face a shareholder vote on a resolution asking them to set absolute greenhouse gas (GHG) emissions reductions targets, as a major investor criticised them for "lagging peers" in this area.

Japan's six largest banks and energy companies have been hit by shareholder calls to disclose decarbonisation plans, over concerns that fossil fuel expansion will result in stranded assets.

Despite a movement into 'cleaner' assets, Chinese banks have yet to shift away from coal, which risks leaving many with stranded assets, Sustainable Fitch has said.

Climate Action 100+ (CA100+) has updated its benchmark tool for helping investors to assess the decarbonisation action of companies.

Insurers' climate engagement strategies are failing as major oil and gas producers show no sign of adopting credible net-zero pathways, according to climate campaigners.

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.