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EU carbon market update, 15 October 2018
15 October 2018There is no obvious reason for EU Allowance (EUA) prices to rise this week, as auction volumes increase and mild weather continues, says Louis Redshaw. But long-term hedging by utilities could boost demand.
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FCA mulls mandatory climate disclosure for financial firms
15 October 2018Financial services firms could be required to report how they manage climate risks, the UK's Financial Conduct Authority (FCA) suggested in a discussion paper.
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Central banks make rallying cry for swift action on climate risk
15 October 2018The financial risks presented by climate change are “system-wide and potentially irreversible… and [these] risks call for action in the short-term to reduce impact in the long-term”, a group of some of the world’s most influential central banks and supervisors has warned.
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Nasdaq launches 'world-first' ESG index-based futures contract
15 October 2018Nasdaq claims it has launched the world's first exchange-listed futures contract based on an environmental, social and governance (ESG) index.
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Development banks eye private capital to tackle plastics pollution
15 October 2018The European Investment Bank (EIB), Agence Française de Developpement (AFD) and Germany’s KfW are joining forces to support an initiative that they hope will ‘crowd-in’ private capital to reduce plastic pollution of the oceans.
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European insurers to face climate stress tests in 2020
15 October 2018The European Insurance and Occupational Pensions Authority (Eiopa) is set to include climate change and sustainability risks in its 2020 stress test for insurers.
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EU ETS prices not high enough to trigger switch from coal, says Natixis
15 October 2018The surge in the price of EU carbon allowances in the past months remains insufficient to trigger a switch away from heavily polluting fuels such as coal, according to French bank Natixis.
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PRA 'expects' banks and insurers to report climate risks
15 October 2018Insurers and banks are to be expected to manage and report their climate-related risks, according to a draft supervisory statement from the UK's Prudential Regulation Authority (PRA).
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People moves: Aviva, ShareAction, Calvert
12 October 2018Mark Wilson is to step down as CEO of Aviva in April 2019.
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BP CEO sparks row as he attacks scenario planning and divestment
12 October 2018BP chief executive Bob Dudley attacked scenario analysis as "increasingly unhelpful" and "confusing for investors", while also criticising the fossil fuel divestment movement.