HSBC’s plans to stop financing new oil and gas fields sends a clear signal to other banks to follow suit for the minimum levels of net-zero ambition, according to sustainable investment commentators. The banking giant and one of the biggest financers of fossil fuels has announced an updated energy policy in which it states it … Read more

Andy Howard, global head of sustainable investment, Schroders Reflecting on what has been a tumultuous year for ESG and markets in general, what has been your biggest challenge and how have you overcome it? At Schroders, we committed to transitioning towards net zero over the coming decades, including setting a Science-Based Target, validated by the Science-Based … Read more

Aviva and WWF have come together to create seven milestones that need to be overcome to mobilise the private finance needed to protect and restore nature. Together the finance group and NGO have published the report, to coincide with COP15 this week, titled Unlocking finance for nature, which draws on lessons from climate action to … Read more

The Australian government is looking into mandatory climate disclosures for corporates as it continues to step up its sustainability strategy. The government’s Treasury announced on 12 December it had begun consulting on “standardised, internationally‑aligned requirements for disclosure of climate‑related financial risks and opportunities in Australia”. It will be looking at where the disclosure requirements outlined … Read more

The board of the United Nations Principles for Responsible Investment recently dismissed a complaint against TIAA and its subsidiary Nuveen over alleged greenwashing. In a response from PRI provided by the Center for International Environmental Law, which was among entities involved with the complaint, the UN group stated that Nuveen will be allowed to remain … Read more

Andy Howard, global head of sustainable investment, Schroders Reflecting on what has been a tumultuous year for ESG and markets in general, what has been your biggest challenge and how have you overcome it? At Schroders, we committed to transitioning towards net zero over the coming decades, including setting a Science-Based Target, validated by the … Read more

World leaders at COP15 are being urged to adopt a Global Biodiversity Framework (GBF) that will align economic actors in halting and reversing nature loss by 150 financial institutions. The financial institutions, managing more than $24trn between them and coordinated by Principles for Responsible Investment, the United Nations Environment Programme Finance Initiative and the Finance … Read more

Climate data firm Persefoni has hired a former SEC lawyer to bolster its regulatory department ahead of forthcoming rules from the regulator on climate disclosure. Last week the company announced that it had brought on Emily Pierce as associate general counsel and vice president of global regulatory climate disclosure. Previously, Pierce was assistant director in … Read more

Grantham, Mayo, Van Otterloo (GMO) is preparing to add a fund to its lineup that anticipates more demand for clean energy. The firm filed an initial prospectus for its GMO Resource Transition Fund in late November with the Securities and Exchange Commission. The fund, like other GMO strategies, is not labeled specifically as an ESG … Read more

Investment professionals appear to be rethinking the assets they consider ESG amid anti-greenwashing proposals this year from the SEC. The total amount of money that US asset managers and institutions call ESG is just half of what it was two years ago, going from $17.1trn in 2020 to $8.4trn this year, according to results of … Read more