HSBC shareholders urge bank to cut exposure to fossil fuels

Investors file resolution calling on bank to publish strategy and targets Some of Europe’s biggest pension funds and asset managers have filed a shareholder vote urging HSBC to cut its lending linked to fossil fuels. Fifteen institutional investors with a combined $2.4trn in assets under management, along with 117 individual shareholders, have filed a climate […]

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Asset managers are avoiding ESG shareholder resolutions

Asset managers are avoiding ESG shareholder resolutions The biggest shareholders need to lead on proxy voting and public engagement, a leading NGO says. Some of the world’s largest asset managers are not using their proxy voting rights to support sustainable progress in their investee companies, despite publicly committing to responsible investment. Responsible investment NGO ShareAction […]

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Companies plan to align ESG priorities with incentive plans

Companies plan to align ESG priorities with incentive plans Investor pressure and recognition of benefits are driving the change Companies around the world are accelerating their focus on environmental, social and governance (ESG) priorities as climate change and diversity issues gain prominence, but more work is needed. Over the next three years, four in five […]

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London-listed companies need to start their net-zero journey

FCA confirms plans for TCFD rules from January London-listed companies need to start their net-zero journey All companies with a premium listing on the London Stock Exchange (LSE) will be required to make climate-related disclosures from January, the Financial Conduct Authority (FCA) has stated. Nikhil Rathi, the UK watchdog’s new chief executive, said listed companies […]

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UK government urges finance firms to make net-zero pledge

UK government urges private finance firms to make net zero pledge Finance is a central theme in the race to net zero The UK government is calling on privately owned financial institutions to commit to a net-zero carbon future. Speaking at the Green Horizon Summit in London last week, UK business secretary Alok Sharma said […]

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China and Russia join push on climate change action

China and Russia join push on climate change action International momentum is building around the race to net zero The impact of climate change seems to be resonating with the leaders of Russia and China who have committed to significant targets. President Vladimir Putin has signed a decree ordering Russia to work towards the goals […]

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Senate working group targets corporate governance reform

Senate working group targets corporate governance reform Four Democrat US senators have formed a working group with the aim of shifting corporate America away from shareholder capitalism. Elizabeth Warren (Massachusetts), Tom Carper (Delaware), Tammy Baldwin (Wisconsin) and Mark Warner (Virginia) want to develop legislative proposals and conduct oversight focused on reforming corporate governance. The group […]

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Speed needed on financial impact of climate change disclosure

Speed needed on financial impact of climate change disclosure Asset owners and their managers need to encourage more companies to disclose the financial impact of climate change on their businesses using an internationally recognised code, according to a new report. The Task Force on Climate-related Financial Disclosures (TCFD), established by the Financial Stability Board, said […]

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DWP launches pension scheme voting task force

Government signals drive to boost ESG options for pension funds UK government pensions minister Guy Opperman has signalled plans to accelerate ESG action for pension funds ahead of the milestone COP26 conference in 2021. “The government will be making announcements on climate change considerations on the whole investment chain and you can expect more and […]

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China announces aim to be carbon neutral by 2060

China announces aim to be carbon neutral by 2060 China has pledged to achieve carbon neutrality by 2060 in an ambitious statement by a country that currently burns half the world’s coal. In perhaps the most significant positive climate development since the 2015 Paris Agreement, President Xi Jinping announced at the UN’s General Assembly that […]

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