Mark Carney announced as Boris Johnson's finance advisor for COP26
Prime Minister Boris Johnson has appointed the departing Governor for the Bank of England Mark Carney as his Finance Advisor for the COP26 climate summit, taking place in Glasgow at the end of the year.
Aviva Investors: Better corporate disclosure needed to help sustainable finance go mainstream
EXCLUSIVE: Investment firms are heeding climate warnings and honing their approach to sustainability, but ultimately need more information from the businesses in their portfolios in order to drive transformational change.
Bank of England planning mandatory climate 'stress tests' for banks and insurers
The Bank of England has unveiled plans to introduce a mandatory and uniform climate risk test for major banks and insurers in 2021.
Will 2020 be the year of mandatory climate disclosure?
Leading experts believe that it is "highly likely" that disclosing climate-related data to the Task Force on Climate-related Financial Disclosures (TCFD's) will become mandatory and have called on business professionals to start collecting and mapping data now.
Available to watch on demand: edie's TCFD webinar with Landsec, Avara Foods and CDSB
Experts from Avara Foods, Landsec and the Climate Disclosure Standards Board (CDSB) discussed how businesses should interact with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFDs) to improve sustainability, as part of a webinar that is now available to watch on-demand.
UN appoints Mark Carney to help finance climate action goals
Mark Carney has been appointed as UN special envoy for climate action and finance as he prepares to step down as governor of the Bank of England in January.
Superficial progress: Global banks failing to deliver time-bound climate strategies
A new report has accused the banking sector of superficial progress when it comes to climate commitments, noting that uptake in low-carbon services, green bonds and reporting standards isn't being matched by demands to decarbonise portfolios.
FCA launches new measures to tackle 'greenwash' as green finance booms
The UK's Financial Conduct Authority (FCA) has unveiled a string of new measures designed to prevent issuers from 'greenwashing', covering challenges such as climate risk reporting and the accessibility of 'green' products such as mortgages.
Aldersgate Group: UK must make TCFD reporting mandatory to reach net-zero
The UK will not meet its 2050 net-zero goal unless corporates and investors are legally mandated to report on their climate risks and the actions they are taking to mitigate them, the Aldersgate Group has warned.
'Draw up climate rules or have them imposed', Bank of England tells corporates
The governor of the Bank of England has warned major corporations that they have two years to agree rules for reporting climate risks before global regulators devise their own and make them compulsory.
Investor pressure slowly pushing firms to set net-zero targets
An investor group overseeing more than $35trn in assets has seen positive responses from corporates on calls to cut net emissions to zero by 2050, despite the group's first progress report finding that just 9% of the companies it has focused on have set targets aligned with a 2C warming.
Mark Lewis: Businesses 'underestimating' speed of low-carbon transition
EXCLUSIVE: Businesses seeking to future-proof themselves against the physical and societal impacts of climate change must set aside resources for scenario analysis - and treat the results of this process as real, rather than "hypothetical".
How Burberry joined the business elite in setting a 1.5C science-based target
EXCLUSIVE: As Burberry became the latest corporate to set a science-based target aligned to the Paris Agreement's most ambitious pathway, the company's vice president of corporate responsibility outlined how the goal was set, and what happens next.
Report: Just one-eighth of corporates aligning with Paris Agreement
An analysis of 274 corporates across the world's most carbon-intense sectors has found that just one in eight are reducing their emissions in line with the Paris Agreement's less ambitious trajectory of 2C.
What does the Green Finance Strategy mean for business?
Following the launch of the UK Government's Green Finance Strategy, the chief executive of the Green Finance Institute has outlined how climate disclosure, policy signals and a robust business case for sustainability will transform how corporates engage with the finance community.
Eight reasons why green finance is becoming mainstream
Halfway through London Climate Action Week and it seems that sustainable finance is the hot topic. Here, edie explores the key drivers behind why green finance is growing from a niche interest to a business-critical concern.
UK unveils Green Finance Strategy to drive progress towards net-zero goal
The UK Government has unveiled its highly anticipated Green Finance Strategy, outlining how the finance sector and better climate disclosure from corporates can drive progress towards wider action on climate change and the push towards net-zero emissions.
New EU framework to help firms measure and disclose climate risks and impacts
The European Commission has published a new framework aimed at helping corporates and investors to calculate and disclose their climate-related risks and impacts, in a bid to help accelerate financial support for the low-carbon transition.
Climate-related financial disclosures 'still insufficient for investors', says TCFD
Efforts to disclose climate-related data aligned to the Task Force on Climate-related Financial Disclosures (TCFD's) recommendations have increased by more than 50%, but concerns remain that companies aren't providing enough information to inform the investor community.
CDP: Climate risks could cost corporates $1trn, with biggest losses before 2025
A group of 215 of the largest companies in the world risk collectively losing up to $1trn to climate impacts, with most of this risk set to hit within the next five years, new research from CDP has found.
Low-carbon transition puts $10trn at risk for inactive investors
A global coalition of financial investors has warned that more than $10trn (£7.7trn) in portfolio assets could be lost if the sector and governments fail to rapidly transition to a low-carbon economy.
Investors press fast food giants to 'urgently' improve supply chain sustainability
A coalition of investment firms with more than $6.5trn in assets under management have called on six of the world's largest fast food companies to take more ambitious action to tackle the climate and water risks within their supply chains, as a "matter of urgency".
Survey: Two-thirds of UK businesses will include climate risks in this year's financial reports
Two-thirds of the UK's largest 100 companies are planning to incorporate climate risks in their annual financial or combined report this year as client, investor and customer demand for transparency on sustainability issues grow.
Fujifilm to adopt TCFD recommendations
Multinational photography and printing firm Fujifilm has pledged to report on its sustainability progress in line with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and is encouraging other corporates to follow suit.
Will 2019 be the year of climate-risk reporting?
The next 12 months will see a steep rise in the number of companies embedding climate-related data and disclosure into core business models, according to ING's global head of sustainability.
Shell to pay executives in line with decarbonisation achievements
Oil and gas giant Royal Dutch Shell has today (3 December) pledged to link progress made towards its carbon reduction aims to the amount of pay awarded to members of its executive board, in a move to engage senior stakeholders with sustainability.
CDSB: European corporates failing to track climate change impacts
Less than half (44%) of European corporates are currently tracking how climate challenges will affect their business models in the future or disclosing the full extent of their environmental impacts.
Corporates 'set to lose $1.6trn' without action on natural capital
FTSE100 firms face collectively losing $1.6trn of market capital if they fail to adopt a natural capital approach to decision-making, by assigning a monetary value to natural resources.
Report: Oil and gas industry failing to invest in low-carbon projects
Global oil and gas firms have collectively invested just 1.3% of their combined capital expenditure (CAPEX) into low-carbon technologies and projects since the start of 2018, new research from CDP has concluded.
Corporate reporting bodies launch project championing TCFD alignment
A coalition of corporate reporting bodies including CDP and the Global Reporting Initiative (GRI) has launched a new scheme aimed at unifying the business community's approach to sustainability reporting.
Report: Just 5% of UK pension funds possess a climate change policy
Just 5% of the UK's largest pension fund managers have a specific policy on climate change in place, despite almost three-quarters (74%) claiming to acknowledge the risks that climate challenges pose to the finance sector.
Government snubs MPs' calls for mandatory climate-risk reporting
Ministers have rejected recommendations from MPs to introduce mandatory climate-related financial disclosures for large firms and asset owners.
Clean Growth Fund spearheads Government's green finance commitments
As part of Green GB Week, the UK Government has announced a new £40m venture capital fund to help bring innovative clean technologies to market.
Global investors call on pension funds to address climate-related risks
A group of 161 investment firms with more than €21trn in collective assets under management have called on pension fund managers to factor climate-related risks into their planning processes.
IPCC 1.5C report: How can business drive the creation of a carbon-neutral world?
The UN's Intergovernmental Panel on Climate Change (IPCC) is celebrating its 30th birthday this year, and has done so by releasing a landmark report that acknowledges the severity of the challenge at hand. But how can business stop being part of the problem, and co-create the necessary solutions?
Climate disclosure enters 'mainstream', but better reporting required, warns TCFD
More than 500 companies have expressed support for the Task Force on Climate-related Financial Disclosures' (TCFD) recommendations. However, many businesses are failing to translate climate impacts into business risk.
FTSE 100 firms step up efforts to manage climate change risks
A new report has highlighted a positive trend among FTSE 100 companies taking action to manage the risks and opportunities of climate change over the past 12 months.
Fresh warnings over lack of climate action across finance sector
The reinsurance and pension fund sectors are failing to progress the finance sector towards key climate goals by continuing to invest in coal projects over low-carbon alternatives, two reports have claimed.
How the TCFD recommendations are reshaping Moody's CSR efforts
EXCLUSIVE: Moody's Corporation's global head of CSR Arlene Isaacs-Lowe believes that adopting the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) has enabled the company to become green finance "standard-setters" and champion the benefits of transparency to the wider industry.
Finance firms 'slowest' TCFD signatories to report climate impacts
Financial services firms that have committed to the Task Force on Climate-related Financial Disclosures’ (TCFD) recommendations tend to be less transparent in disclosing their climate impacts than TCFD signatories from other industries, a new study has revealed.
Environmental verification: less mechanical, more collaborative
With the simultaneous advent of the Task Force on Climate-related Financial Disclosures (TCFD) and the EU Non-Financial Reporting Directive (EU NFR) over the course of the last 18 months, environmental reporting is being driven into the limelight in boardrooms in a manner it has seldom seen before.