A vast majority of European banks face significant climate transition risk, according to a new study released by the European Central Bank (ECB), with a “staggering 90%” found to have loan books misaligned with global climate goals and the EU’s 2050 climate neutrality target. For the new study, the ECB quantified the transition risks in the credit portfolios of 95…
Science-based targets for nature “provide value in the form of risk mitigation” as well as “improved reputation and competitive advantage”, according to pilot companies ahead of the Science-based Targets Network (SBTN) concluding the test in May. Another pilot company commented it was “an enormous step forward” toward a standardisation of how nature is integrated into companies’ strategies. Some 17 companies…
Changes to the Financial Reporting Council’s (FRC) corporate governance code have been welcomed by industry professionals, with particular praise reserved for “the greater emphasis on the need for companies to embed a positive ‘ethical’ culture”. Following the FRC’s largest stakeholder consultation on the Code in 2023, revisions have been kept to a minimum, with those related to the role of…
A certificate in impact investing has been launched by CFA UK, designed to support investment professionals seeking a comprehensive introduction to the fast-growing field. The qualification has been structured to ensure candidates develop a clear understanding of the shape and size of the impact investment market, as well as gain the skills needed to implement impact strategies, including how to…
In this episode of the ESG Clarity podcast, ESG Out Loud, reporter Holly Downes talks to Eleanor Harry, chief executive of HACE, about their AI-powered Child Labour Index. Today, there are 160 million children in child labour globally between the ages of five and 17, of which 78 million are working in hazardous conditions. With the help of artificial intelligence…
In this series, ESG Clarity takes a deep dive into an investment firm’s stewardship activities, discovering their key focuses and processes, and what’s in their engagement toolkit. Here, Bruce Duguid, head of stewardship at Federated Hermes, shares how clients have contributed to the evolution of the firm’s engagement plan and why they are embracing the opportunities within artificial intelligence while being mindful of…
France-based energy giant TotalEnergies announced today an agreement to acquire Kyon Energy, one of Germany’s leading developers of battery storage system, from its three founders. The consideration consists of a €90 million upfront payment, plus some earn out payments linked to the achievement of development targets. Founded in 2021, Munich-based Kyon Energy develops and operates grid-connected battery storage systems. To…
Canada-based cleantech-focused VC investor ArcTern Ventures, announced today that it has raised $335 million in commitments for its global decarbonization venture fund, ArcTern Fund III. ArcTern’s Fund III aims to invest in technology companies that develop and innovate solutions in renewable energy, clean mobility, circular economy, sustainable food, and agriculture and industrial decarbonization. The fund will target early stage growth…