Green finance

The Green Climate Fund- a focal point of climate negotiation tensions

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.

French insurance companies to divest from German top utility RWE     

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.
Energy 12-06-2018

Businesses, NGOs make joint plea for higher EU ambition on climate change

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.

G7 countries pour $100bn a year into oil, gas and coal: study

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.

EU tables ground-breaking ‘low-carbon benchmark’ for green finance

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.

MEPs ask to check financial sector’s investments against climate goals

EU legislators have proposed extending the European Supervisory Authorities’ (ESAs) powers to include checking the financial institutions’ investment portfolio alignment with the Paris Agreement on climate change.

Over 100 corporate giants align with UN climate goals

L'Oreal and Electrolux today (17 April) joined the likes of McDonald’s and Sony in aligning their emission goals with the 2°C target of the Paris Agreement on climate change.

In Brussels, Michael Bloomberg praises EU drive for green finance

Capital markets are “one of the most powerful tools in the fight against climate change” which is often “overlooked”, said billionaire philanthropist Michael Bloomberg, praising Europe’s pioneering green finance action plan presented earlier this month.

Europe takes first step toward clarifying booming ‘green’ finance

The European Commission unveiled on Thursday (8 March) its highly expected action plan on sustainable finance, aiming to clarify what can be labelled as "green" investment and potentially lowering capital requirements on asset holders.

Commission to introduce rules to clarify ‘green’ investment in May

Following the action plan on sustainable finance to be published early next month, the European Commission will present legislation in May to define what represents 'green' investment, EURACTIV has learned.

Expert group recommends setting up European standards for ‘green bonds’

An EU sustainability taxonomy, a definition of priority investment areas, the clarification of investor duties and development of “official” European sustainability standards for green bonds are some of the recommendations experts made to the European Commission on Wednesday (31 January).
Energy 31-01-2018

EU finance advisors back ‘less risky’ energy efficiency loans

A high level group of financial experts has advised European regulators to encourage more favourable treatment for energy saving loans and mortgages, in a move that could unlock billions in lending for green building renovation programmes across Europe.
Climate change 26-01-2018

Climate change lauded as ‘opportunity’ in Davos

Businesses should seize a $6 trillion opportunity to invest in tackling climate change over the next two decades, the head of an Indian multinational said at Davos on Thursday (25 January).

Multinationals line up to claim 100% green power label

Renewables are becoming the energy source of choice for corporate electricity users, according to a new report by The Climate Group published in Davos today (23 January), which shows a growing number of multinationals lining up to meet 100% of their power needs from green power.

Europe will hike climate finance spending, insists Cañete

The EU’s climate chief Miguel Arias Cañete has vowed to increase the bloc’s funding for climate change adaption, pledging that 20% of the EU’s foreign spending would be allocated to climate-related projects.

Commission running late on climate reporting project

The Commission is working on its climate reporting project to be announced next spring, but Commission vice-president Valdis Dombrovskis already announced support for a relaxation of prudential regulations for green projects. EURACTIV France reports.
Climate change 06-12-2017

To fill the climate finance deficit, French summit looks at its governance

Adapting rules instead of pledging millions: two years after the Paris Agreement, the fight against climate change has changed strategy. EURACTV France reports.
Development Policy 22-11-2017

EU lighting up Africa with solar

Nearly €340 billion of investment will be needed to achieve universal access to electricity across Africa by 2030, the World Energy Network forecasts. That is a tall order. The combined grid capacity of the 48 sub-Saharan African countries is around...
Climate change 20-11-2017

Climate finance, the sticking point in COP23

Rich countries had pledged to raise $100 billion each year in climate finance for developing countries by 2020. As of September 2017, they had pledged just $10.3 billion. And the question of who should pay remains unanswered. EURACTIV reports from the COP23 in Bonn.

Luxembourg seeks to become Europe’s green finance hub

At the COP23 summit in Bonn, Luxembourg's finance and environment ministers joined with directors of the European Investment Bank to launch a de-risking mechanism that will allow financing of climate-friendly projects. 
Energy 17-11-2017

World’s biggest sovereign wealth fund proposes ditching oil and gas holdings

The Norwegian central bank, which runs the country’s sovereign wealth fund – the world’s biggest – has told its government it should dump its shares in oil and gas companies, in a move that could have significant consequences for the sector. EURACTIV's media partner The Guardian reports.
Climate change 08-11-2017

A climate summit in Paris to compensate for the lack of European ambition

The French summit aimed at regrouping and bolstering climate ambition, two years to the day after the finale of the COP21, is gradually taking shape. EURACTIV France reports.
Climate change 03-10-2017

‘Thou shalt not burn coal’: Catholic institutions abandon fossil fuels en masse

Forty Catholic institutions from across the world will pull money out of fossil fuels this week, in the biggest single divestment made by religious institutions, including banks, universities and even the Italian town where Saint Francis of Assisi was born.

Transport sucks up nearly half of Europe’s fossil fuel subsidies, report finds

European countries spend more than €112 billion per year subsidising oil, gas and coal production or consumption – including tax breaks on highly-polluting diesel – despite a pledge to phase out fossil fuels completely by 2020.

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