News

GHG Protocol should tell companies which Scope 3 emissions are material, says GMO

International standard setters should clarify which disclosures companies are expected to provide from activities in their value chain, as such information is often too sparse for investors to compare, GMO's sustainability head has suggested.

White Summit reaches €350m for decarb infra fund for first close

White Summit Capital has held a first close of its second decarbonisation infrastructure-focused fund at €350 million ($356.8 million).

EU to publish delayed carbon dioxide removal approach

After months of delay, the EU's European Scientific Advisory Board on Climate Change is set to release its recommendations on carbon dioxide removals early this year.

Airline pension plan breached fiduciary duty with BlackRock ESG strategy, US judge rules

American Airlines breached the fiduciary duty it owed its pension plan clients under US federal law by selecting BlackRock, because it allowed the latter's "ESG interests" - rather than just its financial interests - to influence investment decisions, a judge ruled.

$53trn low-carbon investment opportunity for clean energy transition, says S&P

Around $53 trillion of investment is needed by 2050 for clean energy supply, power transmission and distribution infrastructure to meet global net zero, analysis by S&P Global Commodity Insights has found.

Canadian carbon market slammed as 'economic wrecking ball'

Canada's federal carbon market has been slammed as an "economic wrecking ball" by a regional environment minister, but with an election looming doubts remain over the compliance market's future.

People Moves, 10 January: SBTi, S&P, Impax, Natixis, HSBC, Morningstar Sustainalytics ... and more

Rwanda regulator issues sustainable bond guidelines

The Rwanda Capital Market Authority (CMA) has published new guidelines to help create a "internationally credible, replicable, and attractive" sustainable bond market in the East African country.

BlackRock bows to legal threats and departs net zero initiative

BlackRock has left the Net Zero Asset Managers (NZAM) initiative, citing "legal inquiries from various public officials" in the US attacking its stated focus on climate finance.

Delayed transition now most likely scenario, says Candriam

"Waning political ambition" for the energy transition could slow progress but economic competitiveness and increased focus on energy security will make it an "unstoppable trend" for years to come, according to investor Candriam.