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WCI Carbon Market Update, 4 May 2020
04 May 2020California Carbon Allowances remain below their floor price, with travel restrictions resulting from the Covid-19 pandemic the main bearish factor, says Nicolas Girod*.
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Allianz tightens coal exposure policy
04 May 2020German insurer Allianz plans to exclude companies from its property and casualty (P&C) insurance portfolios which fail to present "a credible transition strategy away from coal".
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Tiff Macklem appointed governor of Bank of Canada
04 May 2020Tiff Macklem, former deputy governor of the Bank of Canada and current Dean of the Rotman School of Management at the University of Toronto, has been appointed to lead the central bank.
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Expect green bond rebound amid Covid-19 recovery, HSBC says
04 May 2020The recent dip in green bond issuance is set to be short-lived, with a rebound likely due to factors including the implementation of the EU Green Deal and COP26, according to HSBC.
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Dai-ichi Life boosts sustainable investments with Covid-related bonds
04 May 2020Japanese insurer Dai-ichi Life has increased its investments in social and sustainability bonds by about $190 million via two private Covid-19-related bond placements.
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Westpac abandons thermal coal funding in tighter climate policy
04 May 2020Westpac has committed to exit its funding of thermal coal firms by 2030 and to align its financing business to the Paris Agreement, as it launched its updated climate change position statement.
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'Alarming' omission of oil and gas from EU financial disclosure rules draft
04 May 2020EU financial regulators have been criticised for appearing to omit oil and gas from its definition of fossil fuel sectors in its draft environmental, social and governance (ESG) disclosure requirements.
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HSBC closes coal project funding loophole as pressure mounts
01 May 2020HSBC has closed a controversial loophole which allowed the bank to continue to fund coal projects in three countries, but campaigners continued to push for coal funding to be withdrawn altogether.
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Moody's: Plastics manufacturers face 'moderate' risk to credit ratings
01 May 2020Increased regulation poses a risk to the credit quality of plastic packaging manufacturers in the next five years, according to a report from Moody's Investors Service.
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BlackRock launches $430m unconstrained ESG bond fund
01 May 2020BlackRock has launched its first environmental, social and governance (ESG)-focused global unconstrained total return bond fund, opening with over $400 million in assets under management (AUM).