More than three quarters of large companies globally have succeeded in cutting their operational emissions intensity, or the emissions per unit of revenue, since the implementation of the Paris Agreement in 2016, but less than a fifth are on track to achieve net zero emissions by 2050 – the goal required to meet the Agreement’s ambition to limit global warming…
Sustainability-focused investment manager Mirova announced the appointment of Stéphane Detobel and Francis Verpoucke, each as Executive VP Institutional Business North America at Mirova US, with responsibility for promoting the firm’s sustainable strategies to institutional investors in North America. Mirova founded Mirova US in 2017, and the unit currently employs 26 people, and manages $9.4 billion, most notably through the development…
Southwest Airlines today announced an updated sustainability strategy, Nonstop to Net Zero, which outlines the carrier’s path toward its goal of achieving net zero carbon emissions by 2050, and including a series of new goals, ranging from electrification and fuel savings to plastic reduction. and supporting a more sustainable future for air travel. Key pillars of the airline’s sustainability strategy…
The Financial Conduct Authority (FCA), the conduct regulator for financial services firms and financial markets in the UK, announced today the results of a review of the compliance of fund managers with regulatory requirements on the design and disclosure of ESG and sustainable investment funds, indicating that many firms do not yet meet expectations, and that products are often not…
Investors are increasingly concerned about corporate greenwashing, with nearly all reporting that they believe corporate reporting on sustainability performance contains unsupported claims, according to a new survey by global professional services firm PwC, which also found that investors want more information on the cost of companies’ ESG commitments, and on the impact of their portfolio companies on the environment and…
JPMorgan Chase announced updates to its interim financed emissions reduction targets for three carbon-intensive sectors, including Oil & Gas, Electric Power and Auto Manufacturing, raising the ambition for each to align with pathways required to achieve net zero by 2050. The updated targets were unveiled with the release of the firm’s 2023 Climate Report, which also included net zero 2050-aligned…