News

UK regulator warns financials they face climate risk supervisory escalation

Banks and insurers have been warned by the Prudential Regulation Authority (PRA) they face an escalation in supervisory pressure if they fail to address climate-related financial risk appropriately.

Governments should compensate investors for stranded assets, says IISD

Governments should compensate oil and gas investors for stranded assets to avoid costly tribunals, the International Institute for Sustainable Development (IISD) has said.

Honesty on transition challenges, failures is 'antithesis' of greenwashing

Being honest around what has led to failures to achieve transition targets is the "antithesis of greenwashing" but remains relatively uncommon among corporates at present, according to Impax Asset Management (AM).

ISSB votes to require Scope 3 disclosures

'Global baseline' sustainability standards are set to require disclosure of Scope 3 greenhouse gas emissions, after a vote by the International Sustainability Standards Board (ISSB) decided.

Africa will have first carbon-backed sovereign green bond 'within a year'

A country in Africa will have its first sovereign green bond backed by carbon credits within a year, the head of a non-profit has predicted.

Insurers taking concrete steps in better climate practices, says UK regulator

Sam Woods letter highlights risk management as key area, but work remains to be done

People Moves 21 October: including American Securities, BNY Mellon, PAI Partners & more

Catastrophe risk capacity must double under "no further action" climate scenario

Bank of England staff investigation reveals some insurers' business models under threat

EU Taxonomy alignment lower than expected, says Commission

The EU Commission is to prioritise work to promote transition plans, following lower-than-expected levels of investor alignment with the sustainability taxonomy, a key executive has said.

Asian companies failing to manage physical climate risk, say Amundi, AIIB

Asian companies and issuers are failing to take action on physical climate risk, despite suffering disproportionately from its impacts, a report has revealed.