BlackRock CEO Larry Fink has made the transition to a low-carbon economy the key theme of his annual letter, announcing a range of actions, including a demand for investee companies to adopt net-zero business plans.
An investigation by the European Banking Federation (EBF) and UNEP FI into the impact of the EU Taxonomy on private banking found that its complexity leads to a risk of errors when applying it.
US bank Citi has invested in seven companies via its $200 million impact fund, including in those focusing on the areas of technology, transportation and education.
Sanctions should be introduced for financial institutions like Vanguard, State Street and BlackRock, which collectively provide $2.7 trillion in financing to companies driving tropical deforestation and have no policy to curb the practice, according to a report by Global Canopy.