Norway’s $1tn oil fund, the world’s largest sovereign wealth fund, is to plunge billions of dollars into wind and solar power projects. The decision follows Saudi Arabia’s oil fund selling off its last oil and gas assets. EURACTIV's media partner, The Guardian, reports.
France and Germany will cement their historic post-war reconciliation with the signing of a new Elysée treaty on Tuesday (22 January). But the draft text, seen by EURACTIV, no longer mentions carbon pricing among new bilateral initiatives.
Nations across the globe should step up preparations against global risks such as climate change and cyber attacks, EU officials say, as these areas remain the most pressing for global experts surveyed ahead of this year's World Economic Forum (WEF) taking place in Davos next week.
While the assessment of financial risks caused by climate change – like floods and storms – is becoming more widespread in the financial community, the evaluation of broader environmental risks like deforestation or ocean pollution is still a major blank spot for bankers.
Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.
Whether humankind fails or succeeds in keeping the rise in global temperatures within manageable levels, central banks will sooner or later be called upon to act, said Benoît Cœuré, a member of the European Central Bank's (ECB) Executive Board.
The EU's next multi-annual budget (2021-2027) should dedicate 40% of spending to the low-carbon economy and high-quality jobs, said Rudy de Leeuw, a delegate at the European Economic and Social Committee (EESC), an EU advisory body.
The new Corporate Reporting Dialogue project will work on aligning international standards with the recommendations published by the Task Force on Climate-related Financial Disclosure in a bid to improve and harmonise reporting on sustainability standards, the group announced Wednesday (7 November).
The European Commission is preparing to launch a “risk data hub” in the coming months that will help map out loss and damage from natural disasters such as floods, droughts, storms and other extreme weather events that are becoming more frequent with climate change.
The European Parliament’s Committee of Economic and Monetary Affairs endorsed on Monday (5 November) a decision that makes it mandatory for all financial market participants, including banks, to disclose sustainability risks and impacts of their portfolio, a move that NGOs say brings the EU one step further in greening its financial system.
Five weeks before a pivotal UN climate conference (COP24) starts, a group of investors led, by the Church of England Pensions Board and Swedish national pension fund AP7, sent a letter to 55 companies to challenge them on climate lobbying.
Climate-related litigations are set to break new grounds following a landmark report by the Intergovernmental Panel on Climate Change (IPCC) earlier this month, which provided lawyers with new evidence that limiting global warming to 1.5°C is still possible.
87% of assets managed by the world’s 100 largest public pension funds are yet to undergo formal climate risk assessment, according to research published on Tuesday (23 October), with only 15% of them adopting a coal exclusion policy.
Faced with the challenges of the Green Climate Fund, researchers at the World Resources Institute (WRI) are formulating a series of new proposals. These start with indexing every country’s past and present contributions to CO₂ emissions. EURACTIV France reports.
At a time when a series of international meetings on the climate is beginning, the funding tool for climate projects between the North and the South is facing governance problems. EURACTIV France reports.
Following the move by major European insurers Allianz, AXA, Generali and SCOR, the two French insurance companies Macif and AG2R La Mondiale will no longer invest in companies planning new coal-fired power plants. Germany’s top utility RWE is among the companies most affected by the new decision.
A unique coalition of businesses and investors representing over €21 trillion in assets have joined forces with local authorities and civil society groups to urge EU leaders to accelerate the transition to a zero-carbon economy in order to keep global warming below 2°C.
Each year, at least US$100 billion goes to support the production and consumption of oil, gas and coal, according to a major new study published on Monday (4 June). That is despite a promise from all G7 and G20 members to stop subsidising fossil fuels by 2025.
The European Commission presented on Thursday (24 May) a set of proposals aimed at boosting private investment in low-carbon technologies like renewable energies while increasing transparency in sustainable finance to avoid green-washing.