EU banking supervisor the European Banking Authority (EBA) announced the publication of a new report assessing the role of environmental and social risks in its prudential supervision framework for banks and investment firms, including recommendations for the acceleration of these risks across the Pillar 1 framework, which defines banks’ minimum capital requirements. According to the EBA, the new report comes…
Legal & General Group’s alternative asset platform, Legal & General Capital (LGC), has hired Alex Wharton as managing director for distribution and partnerships. Wharton is tasked with supporting the delivery of LGC’s strategic growth, enabling purpose-driven capital partners searching for private markets solutions to invest alongside LGC in alternative asset classes and partnerships that drive financial returns with positive social…
South Korean chemical and life science products manufacturer SK chemicals announced today an agreement with global prestige beauty company Estée Lauder Companies (ELC) to supply recycled and recyclable materials to be incorporated into ELC’s packaging. ELC, whose brands include Bobbi Brown Cosmetics, Aveda, Clinique, and La Mer, announced a series of sustainable packaging goals in 2021, including a target to…
Fashion retailer Inditex announced a new partnership with integrated container logistics company A.P. Moller – Maersk aimed at reducing to reduce Inditex’s global greenhouse gas (GHG) footprint from ocean shipping through the use of low carbon fuels. Under the new agreement, Inditex will incorporate alternative fuels, such as green methanol or biodiesel derived from waste feedstocks, for all of its…
Investment in electricity grids will need to scale rapidly over the next few years in order to enable the achievement of global climate goals, according to a new report released today by the International Energy Agency (IEA). According to the report, 80 million kilometers of power lines will need to be added or replaced by 2040, roughly equal to the…
The European Council announced on Monday that it has reached an agreement on new rules aimed at strengthening regulations on emissions standards for new heavy-duty vehicles such as trucks, buses and trailers, including a requirement for a 90% emissions reduction by 2040, and also aimed at encouraging an increasing share of zero emission vehicles in the heavy duty fleet. The…
HSBC Asset Management has added to its suite of thematic ETF offerings with the launch of its Climate Technology ETF, in partnership with index provider Nasdaq. The HSBC Nasdaq Global Climate Tech UCITS ETF will track the Nasdaq CTA Global Climate Technology Index, aiming to offer investors broad exposure to the climate technology ecosystem through a future-focused thematic technology developed…
Last month’s launch of the Taskforce on Nature-related Financial Disclosures (TNFD) represents a significant milestone for risk management and opportunity that perhaps couldn’t have been envisaged just three years ago. This ground-breaking initiative, akin to the Task Force on Climate-related Financial Disclosures (TCFD), is likely to transform the way investors assess and manage risks associated with nature and biodiversity in…