Pension funds have been urged to improve their management of climate-related risks and opportunities by a group of investors with more than €21 trillion ($24.3 trillion) in combined assets.
Climate scenario analysis – as recommended by the Task Force on Climate-related Financial Disclosures (TCFD) – can be “infinitely confusing”, Environmental Finance’s Green Equities conference heard.
There is no obvious reason for EU Allowance (EUA) prices to rise this week, as auction volumes increase and mild weather continues, says Louis Redshaw. But long-term hedging by utilities could boost demand.
Financial services firms could be required to report how they manage climate risks, the UK’s Financial Conduct Authority (FCA) suggested in a discussion paper.
The financial risks presented by climate change are “system-wide and potentially irreversible… and [these] risks call for action in the short-term to reduce impact in the long-term”, a group of some of the world’s most influential central banks and supervisors has warned.
Nasdaq claims it has launched the world's first exchange-listed futures contract based on an environmental, social and governance (ESG) index.
The European Investment Bank (EIB), Agence Française de Developpement (AFD) and Germany’s KfW are joining forces to support an initiative that they hope will ‘crowd-in’ private capital to reduce plastic pollution of the oceans.
The European Insurance and Occupational Pensions Authority (Eiopa) is set to include climate change and sustainability risks in its 2020 stress test for insurers.
The surge in the price of EU carbon allowances in the past months remains insufficient to trigger a switch away from heavily polluting fuels such as coal, according to French bank Natixis.
Insurers and banks are to be expected to manage and report their climate-related risks, according to a draft supervisory statement from the UK’s Prudential Regulation Authority (PRA).