News

• Japanese TCFD supporters labour to disclose climate resilience

  30 November 2021

  Two-thirds of Japanese supporters of the Task Force on Climate-related Financial Disclosures (TCFD) have yet to provide climate scenario-based analysis of their resilience, showing the size of the challenge of meeting the recommendations in a country regarded as a TCFD pioneer.

• Science Based Targets initiative welcomes first Russian financial firm

  30 November 2021

  Tinkoff has become the first Russian financial firm to join the Science Based Targets initiative (SBTi) ahead of setting its own Paris Agreement-aligned climate targets.

• Audits 'undervalue climate risk, should be regulated'

  30 November 2021

  Regulators should require companies and auditors to explain how climate risk is captured in financial statements, Greenpeace has urged, after the NGO said investors have failed to push audit firms to properly value such risks.

• Tokio Marine plans ¥100bn of divestments

  30 November 2021

  Japanese insurer Tokio Marine will divest at least ¥100 billion ($884 million) of equities, including in fossil fuel firms, by its 2023 reporting year as part of its commitment to sustainability.

• Nordea, Kempen among new Finance for Biodiversity Pledge signatories

  30 November 2021

  Financial firms managing more than €12 trillion ($13.6 trillion) in assets have now signed the Finance for Biodiversity Pledge after nine new signatories joined the initiative, including Nordea Asset Management and Kempen.

• 'World-first' humanitarian cat bond admitted to TISE Sustainable

  29 November 2021

  A catastrophe bond believed to be the first to focus purely on humanitarian aspects has been admitted to The International Stock Exchange (TISE)'s sustainable segment.

• Swiss transparency requirements would 'avoid greenwashing'

  29 November 2021

  Suggested minimum transparency requirements for the sustainable financial products of asset managers have been published by two Swiss financial organisations.

• $10trn asset owner alliance urges blended climate finance push

  29 November 2021

  The UN-convened Net Zero Asset Owner Alliance (NZAOA) has urged development finance institutions (DFIs) to better use public-private finance partnerships...

• Plans published for EU's corporate sustainability database

  26 November 2021

  Fresh details have emerged about a planned EU-wide corporate sustainability database, after the European Commission published legislative proposals.

• 2DII: Green bonds require 'major adjustments'

  26 November 2021

  Green bonds require "major" reforms as they are failing to support small companies and small projects,Green bonds require "major" reforms as they are failing to support small companies and small projects, non-profit 2° Investing Initiative (2DII) has said.