Stranded Assets

'A standard for what good looks like for transition plans would help'

UBS's Judson Berkey has backed the idea of a global standard for transition plans, with the ISSB being a natural home for such a standard.

US banks 'concerned' Basel climate scenario work could affect capital adequacy ratios

An influential group of some of the US' biggest banks has said it is "concerned" that work by the Basel Committee could prematurely lead banking supervisors to change capital adequacy requirements based on the results of climate scenario analysis.

Financial institutions' physical risks could be underestimated by 70%

An EU-funded study has warned that European financial institutions' physical climate risk assessments are inadequate, and could be underestimating 'value at risk' by up to 70%.

CPP says lack of interim net zero target helps it make transition investments

CPP Investments has committed to reduce its emissions to net zero by 2050, but has declined to set an interim target, arguing this allows it to invest in high-emitting companies to help them transition.

TransitionArc launched to 'supercharge' transition plan analysis

CDP, Transition Pathway Initiative (TPI) and the Science Based Targets initiative (SBTi) have collaborated with Climate Arc to launch a "one-stop tool to assess corporate transitions" that a senior executive said would "supercharge" such analysis.

LGIM to partially divest from Glencore over coal plans

Legal & General Investment Management (LGIM) has said it will divest from Glencore over the mining company's plans to expand its production of thermal coal.

'Greenflation' likely in near-term, says Pictet-IIF research

"Considerable economic disruption" from policies to support the transition to net zero is likely, feeding inflation in the near term and raising the risk of stranded assets and asset bubbles, according to research by Pictet Asset Management and the Institute of International Finance (IIF).

Green bond emissions accounting could 'significantly boost' market

Accounting exclusively for project emissions financed through green bonds could "significantly boost" demand for the instrument as well as encourage greater green bond supply from 'transition' issuers, according to Barclays.

'Unprecedented': Woodside Energy climate plan rejected by investors

Australian oil and gas firm Woodside Energy had its climate transition plan rejected by a majority of shareholders at its annual general meeting (AGM), with investor groups arguing this record-breaking opposition showed its plans remained "insufficient".

Transition bond label is a 'distraction' for transition finance, says MetLife IM

A dedicated 'transition bond' label for corporate issuers "distracts" from the forward-looking, long-term focus that transition finance requires, according to MetLife Investment Management (MetLIfe IM).

Transition funds are no longer just about impact, says RGreen

Rgreen Invest has launched its fourth energy transition fund, as its founder told Environmental Finance the theme has evolved beyond being "a nice-to-have", towards being an economic safe haven and hedge against inflation.

Foresight eyes first close of second energy transition fund

HSBC, Citi among banks banned by West Virginia over fossil fuel 'boycotts'

Ninety One: Divesting is not impacting high emitters

The real-world impact of investors' net zero commitments is currently unclear, according to Ninety One Asset Management, calling on investors to "shift focus from reducing financed emissions to financing reduced emissions".

'Regulators could follow TCFD example' by making TPT mandatory

Guidance on 'gold standard' climate transition plans could be implemented in UK regulation, following the example of the Task Force on Climate-related Financial Disclosures (TCFD), according to a senior lawyer.