Stranded Assets

Goldman Sachs leaves Net Zero Banking Alliance

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

US braced for stifling impact of Trump presidency on bank climate regulation

Climate-related regulation of US banks is set to stagnate "at best" and faces the prospect of anti-ESG rulemaking at federal level, according to a prominent former regulator.

Aviva to integrate nature into transition plan

Aviva is to integrate nature into the second version of its transition plan, a conference heard.

'Loose' EFRAG transition plan guidance permits greenwashing, NGOs argue

Texas sues BlackRock, State Street and Vanguard over ESG strategy on coal

Texas' Attorney General has sued BlackRock, State Street Corporation, and Vanguard Group, alleging they were "conspiring to artificially constrict the market for coal through anticompetitive trade practices" relating to their ESG strategies.

Mitigation needs work for COP30 after 'basically no outcome' at COP29

After a 'mitigation-lite' COP29 event, the Swedish COP negotiator said the next climate summit needs to focus on getting a "clear mechanism" in place to deliver the ground-breaking deal to transition away from fossil fuels agreed at COP28.

Webinar: COP29 a missed opportunity to support private sector transition planning

A lack of progress on negotiations at COP29 is undermining hopes that countries could support the creation of an international framework that would support private sector transition planning, a webinar hosted by the IFC and Environmental Finance heard.

EU supervisors estimate trillions in losses from 'run on brown' assets

European financial institutions stood to lose trillions of euros from a 'run on brown' assets, financial supervisors estimated in a first-of-its-kind stress test - but the financial impacts of climate-related "transition risks alone are unlikely to threaten financial stability".

IOSCO encourages regulators to clarify issuers' liability for transition plans

Standard setters and regulators have been "encourage[d]" to provide "markers on what would constitute forward-looking information" to show preparers of transition plans the extent of information they can provide without expecting to be sued.

EFRAG guide 'a good start' but EU needs transition plan committee, report says

Draft guidance to help organisations create climate transition plans in line with EU disclosure rules is "a good start" but the European Commission must address inconsistencies between several EU regulations, according to E3G.

Eiopa recommends additional capital requirements for insurers' fossil fuel assets

The European Insurance and Occupational Pension Authority (Eiopa) has recommended higher capital requirements for European insurers holding fossil fuel assets.

Transition plan guidance published for EU disclosure rules

Draft guidance has been published to help organisations preparing to report in line with EU disclosure regulations create climate mitigation transition plans.

BHP climate transition plan gains shareholders' approval

Mining giant BHP has won shareholder backing for its Climate transition action plan (CTAP), despite opposition from the world's largest sovereign wealth fund.

NZAOA members warn their progress on decarbonisation at risk from policy inaction

Insurers and pension fund members of the Net Zero Asset Owner Alliance (NZAOA) have warned their progress on decarbonising their portfolios could be about to slow because the wider global economy is not showing signs of matching their efforts.

Webinar: Vague definition of greenwashing deters 'transition' finance

The growth of 'transition' finance is being held back by fears among debt issuers of being accused of greenwashing - a situation exacerbated by national regulators failing to clearly define what constituted greenwashing, a webinar hosted by Environmental Finance heard.