The Abu Dhabi National Oil Company (ADNOC) announced a significant increase in its planned emissions reduction investments, growing its allocation to decarbonization projects and technologies and lower-carbon solutions to $23 billion, compared to its prior target of $15 billion by 2030. The increased allocation, mandated at the annual meeting of the ADNOC Board of Directors, follows the company’s announcement last…

Over half of business leaders globally plan to increase investments in sustainability in 2024, up significantly from only a third who reported plans to do so last year, as business optimism increases, and as executives increasingly recognize the potential impact of climate disruptions to their businesses, while new government incentives help to mobilize investments in climate tech, according to a…

Investments in healthcare – particularly in vaccine development – and the gender health gap were key themes for investors that emerged from the discussions at this year’s World Economic Forum (WEF) annual meeting. The 54th meeting – also known as Davos and held in the Swiss Alps – also urged investors to address how to improve DEI initiatives and explore…

The demand for sustainability disclosures from funds has far outpaced regulation in recent years. For investment trusts, this has created a dilemma. While wanting to satisfy investors’ desire for disclosure, trusts’ boards and managers have been bombarded by a barrage of different sustainability standards, frameworks and expectations – and a lack of clear guidance from the regulator. The result is…

The increased scrutiny on asset manager engagement is a sign the ESG investment industry is “growing up” and firms should welcome these questions, said Fidelity’s head of stewardship for Europe in this video interview. She explained how standards are moving and best practice is evolving, which is, for her an exciting time to be working in a stewardship role. Goodall…

Of the 2,000 global companies identified as having the greatest potential to transform systems and influence progress toward the UN’s Sustainable Development Goals (SDGs), less than a third have verified emissions reduction targets, according to a report. The companies, known as the SDG2000, are identified by the World Benchmarking Alliance at the start of every year, and in 2024 includes…

Ontario Teachers’ Pension Plan (OTPP), one of Canada’s largest investors, announced the release of its 2024 Proxy Voting Guidelines, with strengthened expectations for company boards on climate oversight. One of the key changes to OTPP’s proxy voting guidelines this year includes the expectations for board audit committees, specifically related to climate change. According to OTPP, audit committees are coming under…

The U.S. Department of Energy announced $104 million of investments in net zero-focused energy conservation and clean energy projects at 31 Federal facilities, including initiatives to boost building electrification, add on-site solar, and install heat pumps. The new investments form the first of three disbursements from a $250 million funding program launched last year by the Biden administration, aimed at…