Last year, activist investor Engine No.1 challenged ExxonMobil, unseating three of its board members for failing to sufficiently respond to the climate crisis.
The Prudential Regulation Authority (PRA) has recently written a “Dear CEO” letter, intended to outline the Authority’s priorities for international banks that operate in the ...
Last year, activist investor Engine No.1 challenged ExxonMobil, unseating three of its board members for failing to sufficiently respond to the climate crisis.
The Prudential Regulation Authority (PRA) has recently written a “Dear CEO” letter, intended to outline the Authority’s priorities for international banks that operate in the UK. The letter was sent to “the wide and diverse range of international banks that [the FCA] supervises” and helps such organisations identify and manage potential risks.
The European Central Bank (ECB) today published the results of its economy-wide climate stress test. The exercise tested the impact of climate change on more than four million firms worldwide and 1,600 euro area banks under three different climate policy scenarios.
What is needed, then, is a genuine green finance revolution. Investing in green debt, for example, would have a much greater long-term impact than directing capital to the same conventional companies who are simply claiming to have strengthened their dedication to ESG.
Economic stagnancy has also reduced the ability (or desire) of companies to invest in green alternatives. Japanese companies have long been wary of investing and prefer to sit on piles of cash, reducing both innovation and the amount of investment that is pumped into green transformation.
Addressing climate change is a global challenge and a policy priority for the European Union. While governments and parliaments have the primary responsibility to act on climate change, within its mandate, the ECB recognises the need to further incorporate climate considerations into its policy framework.
Klarna is to implement decarbonization strategies in line with the Paris Agreement in order to reach net-zero greenhouse gas emissions in all scopes by 2040 at the latest.
This afternoon, His Royal Highness The Prince of Wales will host CEOs from some of the world’s leading companies at St James Palace in preparation for a unique official meeting in Cornwall with G7 leaders (on Friday 11th June).
The ECB climate change centre is a new unit that was set up earlier this year to bring together the work on climate issues in different parts of the bank.
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