UK’s audit watchdog says it ‘strongly supports’ global ESG reporting standards ESG 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 [...]
HSBC pushes further into Saudi Arabia: Canary Wharf approves $10bn loan so mass polluter Saudi Aramco can expand So much for the E in ESG HSBC is in line to finance a $10bn revolving credit facility to one of the world’s biggest polluters, the Saudi Arabian Oil Company, or Saudi Aramco, despite the bank’s commitment to ‘Net Zero emissions by 2050’. HSBC’s latest venture in the Middle Eastern kingdom, in partnership with Standard Chartered, is likely to draw scrutiny from [...]
Exclusive: Most investors could not care less about ESG and sustainability Exclusive With COP26 a few months behind us, more than half of UK investors admit sustainable investing is not a priority for them, with just under 45 per cent saying it is important and it is a priority in their investment portfolio. In fact, less than a third of British investors say COP26 and the UK [...]
Government could save UK industries from higher carbon costs this winter January 4, 2022 The government could cut the amount carbon-intensive industries pay amount pay for each tonne of carbon they emit into the atmosphere.
Saturday Read: Two sustainable fashion gurus on a mission to make soil sexy in London November 27, 2021 Far from providing a pivotal road map, COP26 has at least uncovered a few tangible solutions for multiple industries to move forward. For the first time ever, fossil fuels have been noted and added to the final agreement, albeit rather half heartedly, with a little help from India and China. Another key take-away [...]
Just one per cent of Brits hail COP26 a success, as climate becomes UK’s top concern November 24, 2021 Just one per cent of Brits have hailed COP26 as a ‘big success’, as climate change becomes the UK’s top concern, according to new research. Nearly 30 per cent of those surveyed said that the UN’s landmark climate conference was a failure, after hopes of ending fossil fuel use were scuppered at the final inning. [...]
Happening now in the City: Insurance giant Convex Insurance targeted over coal November 24, 2021 Convex Insurance, the London-based insurance company, is targeted this morning at the London Market Conference by environmental organisation Market Forces, putting further pressure on the insurance company to rule out underwriting the controversial Adani Carmichael coal project. Convex has not ruled out the project despite 40+ other major insurers having done so. The Adani Carmichael [...]
European Commission proposes import ban to prevent deforestation November 17, 2021 The European Commission has proposed a law aimed at curbing the import of commodities linked to deforestation.
Exclusive: En+ chairman and former minister Lord Barker warns ‘don’t expect a big bang’ from COP26 November 14, 2021 Many eyes were on Lord Gregory Barker of Battle earlier this week, as ‘his’ global energy giant En+ was at the heart of COP26’s complex ecosystem of executives, government reps, lobbyists, NGOs and activists in Glasgow. Lord Barker was appointed independent chairman of the En+ Group board of directors in October 2017, just before the company’s [...]
COP26 done and dusted: What big names make of the Glasgow Climate Pact November 14, 2021 The Glasgow Climate Pact has received a mixed reaction from both those involved and observers. Political leaders, activists and big NGOs expressed disappointment at the lack of ambition on phasing out fossil fuels and climate finance, but there was general consensus that 1.5C is still within reach. Here’s what some of the big names had [...]