July 2021
13Jul

Canadian green bond market riding high after record quarter

Canadian companies issued a record amount of green bonds in the second quarter, and bankers expect the debt instrument will become more popular because issuers are able to charge a premium that environmentally-friendly investors are willing to pay. With corporations and financial institutions facing growing pressure from investors to embrace more environmentally-sustainable practices, green bonds are seen by some as one way to work towards the transition to a clean energy future. One of the reasons they are catching on in...

July 13, 2021
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08Jul

The EU’s new green plan to achieve carbon neutrality

The European Commission revealed a new green financial plan on July 6 to meet its 2030 goal of cutting emissions by 55% across EU member states. The European Union body will need to raise €350 billion ($414 billion) a year to promote the use of natural gas over coal for power generation and push financial institutions to go green. Achieving the 55% cut in emissions will be a major step toward achieving carbon neutrality by the middle of the...

July 8, 2021
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08Jul

ESG: Fad or Future?

The trend over recent years is impossible to ignore: ESG investing has been gathering steam. There have been record flows into ESG investments, companies in ESG sectors have registered impressive valuations and thousands of asset managers and owners have signed on to the UN Principles For Responsible Investment (PRI). Environmental sectors are outstripping growth in the overall economy and ESG-focused funds are outperforming their counterparts. There is a convergence of driving factors that already point to this being more...

July 8, 2021
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06Jul

Asset owners managing US$6 trillion call for global carbon price

Investors managing more than US$6 trillion in assets on Tuesday (Jul 6) called for a coordinated global price on carbon and said emissions costs would need to almost treble by 2030 to reach the world's climate goals. The call by The Net Zero Asset Owner Alliance, whose 43 members include some of the world's biggest pension schemes and insurers, comes ahead of the next round of global climate talks in November. Currently, 64 carbon pricing instruments such as emissions trading schemes...

July 6, 2021
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June 2021
29Jun

UK. FCA Proposes New Climate-Related Disclosure Regime

The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers. On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure rules and guidance for asset managers, life insurers, and FCA-regulated pension providers. The disclosure requirements would be consistent with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations. The FCA plans to introduce the disclosure requirements in a new ESG Sourcebook in the FCA Handbook. The regulator anticipates that this...

June 29, 2021
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21Jun

UK. Pensions commits to net zero by 2050

Pensions has committed to net zero emissions by 2050 by overhauling its investment strategy. The new strategy will see members’ savings invested in an equity fund which invests in companies that have lower carbon footprints. It will include investing in sustainable bonds and sustainable equities to at least 50 per cent of the portfolio’s net asset value by the end of 2021. The pensions provider says the changes come after an overhaul of the trust’s investment strategy in order to integrate ESG...

June 21, 2021
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17Jun

EIB Investment Report 2020/2021: Building a smart and green Europe in the COVID-19 era

By European Investment Bank The European Union's massive efforts to rebuild after the coronavirus pandemic present a unique opportunity to transform its economy, making it more green and digital – and ultimately more competitive. The Investment Report 2020-2021 looks at the toll the pandemic took on European firms’ investment and future plans, as well as their efforts to meet the demands of climate change and the digital revolution. The report’s analysis is based on a unique set of databases and...

June 17, 2021
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16Jun

US. Maine forces pension funds to dump fossil fuels

Last week, Maine passed bill LD99; an act to require the state to divest itself of assets invested in the fossil fuel industry. Needing 17 votes to pass, it succeeded with 18 in favour while 15 voted against the bill and two were excused. Under the law, the Maine Public Employees Retirement System "may not invest the assets of any state pension or annuity fund in any stocks or other securities of any corporation or company within the fossil fuel...

June 16, 2021
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09Jun

U.K. government to mandate climate risk assessment by retirement plans

U.K. retirement plans with at least £5 billion ($7.1 billion) in assets will be required to assess and publicly report climate change risks in their portfolios starting in October under regulations presented to Parliament on Tuesday. The new regulations, which are subject to parliamentary debate, fall under the Pension Schemes Act 2021 and will require trustees to identify and evaluate climate risks and opportunities that may affect investment strategies over the short, medium and long terms. Investors will also be required...

June 9, 2021
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08Jun

UK pension funds sign up to Net Zero Asset Owner Commitment

UK pension funds are amongst the new signatories to the Paris-Aligned Investment Initiative's Net-Zero Asset Owner Commitment. Read also GE to freeze U.K. pension plans outh Yorkshire Pension Fund, Wiltshire Pension Fund and TPT Retirement Solutions join Europe's largest pension fund, ABP, the Church of Sweden and National Trust in signing up to the commitment. Read also UK. A third of DB schemes now have professional trustees The Paris-Aligned Investment Initiative is a collaborative investor-led international forum that enables signatories to align their...

June 8, 2021
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