Scottish Widows becomes first investor in Blackrock climate fund August 5, 2020 Scottish Widows has become the first investor in Blackrock’s newly launched climate fund, which is designed for the transition to a low carbon economy. The pension provider is initially allocating £2bn of its pension portfolios into Blackrock’s Climate Transition World Equity Fund. It marks a shift in strategy for Blackrock, which is using data to [...]
COP26 has been delayed, but the City’s charge against climate change continues July 6, 2020 Businesses and households across the world have been hit hard by Covid-19, but as we move to the next phase of recovery from the pandemic, it is vital that we keep the fight against climate change top of the agenda. That’s why last week, to mark London Climate Action Week, we announced a major summit [...]
Bank of England to review climate impact of corporate bond-buying after crisis July 1, 2020 The Bank of England will look at introducing climate change considerations when deciding which corporate bonds it buys, governor Andrew Bailey said today. The central bank had been targeted by climate change protesters who have been calling and emailing it this week to demand a change in the way it helps companies survive the Covid-19 [...]
Crisis is ‘defining moment’ in climate change battle, government told June 25, 2020 The government must use its recovery from the coronavirus crisis to accelerate the country’s transition to a net zero economy, the Committee on Climate Change (CCC) has said. In its latest guidance to parliament released today, the CCC urged ministers to seize the opportunity to turn the crisis into a “defining moment” in the fight [...]
What can the Covid-19 crisis teach us about tackling climate change? June 11, 2020 | City Talk We already know how devastating climate change could be for the planet, so let’s ensure we learn the lessons from the current crisis. Covid-19 caught most of the world’s institutions and governments by surprise, leading to a global health and economic crisis unprecedented in modern times. Few people would disagree with the notion that most [...]
Climate change remains key focus at LGIM as it ramps up pressure on boards April 22, 2020 Legal & General Investment Management (LGIM) is continuing to pressure corporate boards on climate change and governance, opposing the election of 4,000 company directors last year. The asset manager’s ‘Active Ownership’ report released today reveals it took sanctions against 11 companies named as laggards under LGIM’s climate impact pledge. Among these were Exxon Mobil and [...]
Covid-19 might lead to long-term action on climate change April 1, 2020 As greenhouse gas emissions plummet due to the commercial standstill caused by the Covid-19 pandemic, there remains a glimmer of hope that at least one positive may arise from this terrible situation — we may yet manage to slow the onset of climate change. From reports of air pollution levels dropping between a third and [...]
Barclays outlines new climate policy amid mounting pressure from activists March 30, 2020 Barclays said it plans to cut its net greenhouse gas emissions to zero by 2050 and will only provide financing to projects aligned with the Paris Agreement climate goals. The London-based bank said it will table a resolution on its new climate policy for shareholders to vote on at its annual general meeting (AGM) in [...]
A more sustainable capitalism will emerge from Covid-19 March 30, 2020 The main concern that is paralysing the financial markets right now is uncertainty. Investors and the business community are questioning how long this crisis will last, and when consumer and investor confidence will return, with no end in sight. But while none of us can predict the future, when it does return, one possible outcome [...]
Climate activists: Prepare to win the peace after the coronavirus war March 27, 2020 Winston Churchill may have won the war, but Clement Attlee won the peace. The pill that Churchill swallowed was bittered by the fact that his victory had paved the way for Attlee’s. Without the spirit forged by the collective efforts of wartime, there would have been little appetite to build Attlee’s welfare state when peace [...]