Mass exodus of US, Canadian banks does not need to dampen efforts by remaining members to align with net zero, experts agree. Following a series of exits, the Net Zero Banking Alliance (NZBA) has the opportunity to double down on its climate ambition and sharpen its requirements for remaining members. The focus is on European banks to lead the way,…
5 Reasons Sustainability Accounting Is Key to Tackling Climate Change in Oil and Gas
The oil and gas industry has long been a focal point in the global conversation on climate change. With the sector accounting for a significant portion of greenhouse gas (GHG) emissions, the need for actionable strategies to mitigate environmental impact has never been more urgent. One such strategy gaining traction is sustainability accounting, a powerful tool that enables organisations to…
How To Use Sustainability Accounting to Drive Decarbonisation in Your Operations?
The Oil and Gas sector faces increasing pressure to reduce greenhouse gas (GHG) emissions. With global stakeholders demanding transparency, accountability, and tangible progress toward decarbonisation, sustainability managers are at the forefront of this transition. One powerful tool in their arsenal is sustainability accounting. By systematically tracking and reporting environmental performance, organisations can not only meet regulatory requirements but also uncover…
Schroders to Adopt All Four of the FCA’s SDR Sustainability Labels for Funds
Global investment manager Schroders announced plans to adopt each of the four sustainable investment labels – “Sustainability Focus”, “Sustainability Impact”, “Sustainability Improvers” and “Sustainability Mixed Goals” – introduced by the UK Financial Conduct Authority (FCA)’s Sustainability Disclosure Requirements (SDR) regulation, becoming, the firm believes, the first to do so. Anna O’Donoghue, Global Head of Product Development and Governance, Schroders, said:…
Texas-Led Multi-State Coalition Threatens BlackRock, Goldman Sachs, JPMorgan and Others with Legal Action Over ESG Commitments
Texas Attorney General Ken Paxton announced that he has sent a letter to BlackRock, Goldman Sachs, JPMorgan Chase, Bank of America, Citigroup, and Morgan Stanley warning the Wall Street firms of potential legal actions over their diversity and climate investing policies and practices. The letter was co-signed by 9 other state Attorneys General, including the AGs of Alabama, Idaho, Indiana,…
Stockholm Exergi Awarded $1.8 Billion by Sweden for Bio-energy Carbon Removal and Storage Project
Swedish energy company Stockholm Exergi announced today that it has been awarded support for bio-CCS, a technology that captures biogenic carbon dioxide before it reaches the atmosphere, through a reverse auction by the Swedish Energy Agency, with granted support of SEK 20 billion (USD$1.8 billion), to be paid out over up to 15 years. According to Stockholm Exergi, the new…