City watchdog outlines tougher climate change disclosures for top firms March 6, 2020 The UK’s top listed firms must disclose how their business is affected by climate change using globally-agreed guidance or explain why they cannot, under proposals outlined today by the Financial Conduct Authority (FCA). Under the plans, firms with a premium listing would have to either make climate-related disclosures in line with the approach set out [...]
Jupiter adds to pressure on Barclays over fossil fuel financing March 3, 2020 Jupiter Asset Management has backed a landmark shareholder resolution calling on Barclays to stop financing fossil fuel producers that are not aligned with the Paris Agreement climate goals. Jupiter, which is one of Barclays’ top-25 shareholders, has joined 11 other institutional investors and over 100 individual shareholders in backing the motion, which is thought to [...]
Greenpeace targets Barclays branches over fossil fuel financing March 2, 2020 Greenpeace activists have targeted almost 100 Barclays bank branches this morning in protest over the bank’s financing of fossil fuel companies. Some 29 branches in London are affected, according to Greenpeace, with activists disabling many of the branches’ lock mechanisms so they are unable to open as usual. Campaigners are demanding the banking giant — [...]
If Britain is to hit net-zero, we need the City to step up its green finance ambitions March 2, 2020 The unveiling of the COP26 Private Finance Agenda at Guildhall last week was a landmark moment for our climate change efforts as a nation. The annual UN conference, this year taking place in Glasgow, will convene global leaders to discuss the world’s most pressing issue. And as policymakers gear up for the pivotal event, it [...]
BoE governor Mark Carney urges the City to step up on climate change February 27, 2020 Outgoing Bank of England governor Mark Carney has demanded the City answer “calls to action” on climate change and help speed up the transition to a low-carbon economy. In a speech given in the City this morning, Carney is expected to call on money managers to “ensure that every financial decision takes climate change into [...]
A quarter of FTSE companies faced shareholder dissent in 2019 February 20, 2020 Investors cranked up the pressure on British companies last year, with a quarter of firms on the FTSE All-Share hit by shareholder dissent, according to new figures. Some 158 of the 641 firms on the index experienced significant investor rebellions in 2019, with executive pay and the re-election of directors among shareholders’ biggest concerns, according [...]
ESG investing: The only way is ethics February 12, 2020 “Climate change has become a defining factor in companies’ long-term prospects,” wrote Larry Fink, chief executive of Blackrock, in his annual letter to global company bosses last month. “I believe we are on the edge of a fundamental reshaping of finance.” It was a big moment. Sustainability has been a growing economic issue for more [...]
Energy emissions stall in 2019 despite economic growth February 11, 2020 Global emissions related to energy production stopped growing in 2019, raising hopes that a “definitive peak” in total greenhouse gas emissions may have been reached. According to the International Energy Agency (IEA), emissions plateaued at 33 gigatonnes last year, having risen for the previous two years. The data is particularly striking as decline came even [...]
Barclays under pressure from second investor group over fossil fuel financing February 5, 2020 Barclays is facing increased pressure over its financing of fossil fuel producers, as it emerged that a second influential shareholder group is pushing the bank to adopt stricter climate change policies. The Investor Forum, whose 50 members control £18.5 trillion assets, has held discussions with the British lender over its climate policies, the Financial Times [...]
Michael Gove doesn’t know how much charging points will cost UK February 4, 2020 Michael Gove has failed to say how much it will cost the government to build charging points to support the widespread use of electric cars by 2035. The Prime Minister today pushed forward the date by which all petrol, diesel and hybrid vehicles will be replaced by electric cars to 2035 at the latest. That [...]