Investors managing more than $34 trillion in assets, nearly half the world’s invested capital, are demanding urgent action from governments on climate change, piling pressure on leaders of the world’s 20 biggest economies meeting this week.
The European Parliament's decision to exclude the nuclear energy sector from the list of investments that can benefit from the EU's green investment label will have consequences for the sector, particularly in France. EURACTIV France reports.
A €25 billion clean air programme launched by the Polish government is in danger of losing EU support. Warsaw has until Friday (21 June) to prove its commitment, according to a letter sent by the European Commission and seen by EURACTIV.
European sustainable finance got an additional boost on Tuesday (18 June), following the release of three reports by the Technical Expert Group on sustainable finance (TEG) focusing on taxonomy, green bonds standards and climate benchmarks.
European member states want to commit to increasing international climate financing to a new level. They want to replenish the UN's Green Climate Fund, according to a draft of a European Council statement, which is to be adopted at the EU summit next week. EURACTIV Germany was able to see the declaration in advance.
A new strategy for the capital markets union, fintech, financial stability, sustainable economy and Brexit are the priorities listed for the next financial services commissioner, according to the memo drafted by European Commission officials and seen by EURACTIV.com.
We need to reboot the financial system and rethink old structures. This is what the OECD, the World Bank Group and the UN Environment Programme are calling for in their new joint report. Sustainable finance should become mainstream, but the market is still lagging far behind. EURACTIV Germany reports.
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.