PwC hires 50 ESG focused interns as Big Four seek to capitalise on sustainability push June 29, 2022 PwC is set to bring in 50 new interns entirely focused on climate and ESG amid a race amongst the world’s biggest companies to capitalise on the rise of sustainability reporting. The Big Four firm said 50 of its 500 new interns will be focused on matters concerning ESG. PwC’s ESG chief Zubin Randeria said [...]
Top investors demand firms including Tesla and Exxon Mobil cough up climate data June 29, 2022 A group of 263 top financial institutions have today called on firms including Tesla and Exxon Mobil to reveal their environmental impact data, as pressure grows on businesses for transparency on climate impact.
UK’s audit watchdog says it ‘strongly supports’ global ESG reporting standards June 27, 2022 The UK’s audit watchdog has said it “strongly supports” the development of high-quality, global standards for reporting on climate and sustainability data. The UK’s Financial Reporting Council (FRC) said it backs plans put forward by the International Sustainability Standard Board’s (ISSB’s) for new worldwide ESG reporting rules. The comments come after the International Financial Reporting [...]
Exclusive: We need a business mindset shift and new tools to get us there, says City insider June 20, 2022 ESG commitments for 2030 are high on the boardroom agenda, but are we asking the right questions? The big money question is, even if we meet our sustainability targets, does that secure the social conditions and environmental resources that we will need for businesses to operate in the future? Across the City, a viewpoint on [...]
New audit watchdog chair pledges tougher rules for company executives June 16, 2022 The new chair of the UK’s audit watchdog has vowed to make company directors accountable for corporate accounting scandals, in his first public speech as head of the Financial Reporting Council (FRC). FRC chair Sir Jan du Plessis said the government’s decision to water down plans for a British version of the USA’s “Sarbanes-Oxley [...]
TEN campaigners arrested after daubing Treasury with red paint in fossil fuel protest June 14, 2022 The front of HM Treasury’s building was daubed with red paint as 10 Just Stop Oil campaigners were arrested accused of crimes including criminal damage and causing a public nuisance. Environmental protestors were pictured on the grass in front of the building on Monday with red paint on the pavement, before police arrived to detain [...]
Insurers need more data to properly model climate risk, Bank of England insurance chief says June 8, 2022 The UK’s insurance sector lacks “comprehensive and high quality data” it needs to properly evaluate climate risk, the head of the Bank of England’s (BoE’s) insurance division has said. Speaking at the Association of British Insurers’ (ABI’s) climate summit 2022, Stefan Claus, the head of the BoE’s general insurance division, said insurers are struggling to [...]
Exclusive: ‘Covid killed more people than all other catastrophes in the past half century,’ says climate sceptic Bjorn Lomborg May 31, 2022 Bjorn Lomborg is President of the Copenhagen Consensus and Visiting Fellow at Stanford University’s Hoover Institution. Below he shares his views on the latest UN climate report in a UK exclusive for City A.M. A new United Nations report has revealed the disturbing news that the number of global disasters has quintupled since 1970 and will increase by [...]
Companies should brace themselves for an avalanche of climate lawsuits, lawyers say May 26, 2022 London listed companies should brace themselves for an avalanche of climate related lawsuits, as shareholders and NGOs increasingly resort to litigation over climate related financial risks, lawyers have said. Investors are increasingly suing companies for breaching their fiduciary duties, over their failures to limit their exposure to climate risks, Fiona Huntriss, a partner at London [...]
The Bank’s climate warnings are too overblown to help May 25, 2022 What was it HSBC’s now-suspended banker Stuart Kirk said about alarmist climate warnings? “Unsubstantiated, shrill, partisan, self-serving, apocalyptic warnings are ALWAYS WRONG” was the title of the slide which has seen him taking some unexpected time in the garden, as he dared to offer the heretical view that reports of the world’s imminent demise may [...]