Climate finance progress but coal phase-out remains sticking point at pre-COP26 meeting
Delegates met this week ahead of November conference where Germany and Canada agreed to $100bn climate finance plan
Coal
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AllianzGI expands exclusion policy
Withdraws from coal and controversial weapons
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AllianzGI expands exclusion policy
Investee companies must have cap on revenues from coal and controversial weapons.
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Investors call on banks to ramp up climate strategies or face voting action
Investor groups representing $4.2trn want to see banks phasing out financing coal by 2030 and commitments to TNFD
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Without coal exclusions climate commitments are just ‘hot air’
Reclaim Finance report finds less than half of asset managers have a public coal limitation policy
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M&G to divest from coal next year
But an NGO said the new coal exit policy misses the mark.
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Too little too late? M&G to divest from coal next year
M&G has joined the Powering Past Coal Alliance
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Coal divestment strategies must mitigate social impact
RWC’s John Teahan says effective carbon pricing and taxing should be introduced globally
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European asset managers commit to being net zero by 2050
KGAL and Kempen Capital Management have joined finance firms pledging net-zero emissions
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Campaigners blast HSBC net zero ambitions for ‘lacking credibility’
‘HSBC’s net-zero commitment is a bit like saying you’ll give up smoking by 2050, but continuing to buy a pack a week’
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Robeco excludes fossil fuels from entire fund range
Robeco exclude investments in thermal coal, oil sands and arctic drilling from all its mutual funds
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Scrutinising firms’ climate-related disclosures
HSBC Global Asset Management’s Stephanie Maier analyses the impact of 10 different climate scenarios on company valuations