Michael Hurley

Articles by Michael Hurley

  • Bank of England should model financial impact of acute physical risks, regulator says

    25 September 2023

    The Bank of England should test the impact on the country's financial system of a "very large climate event", the head of the Bank's Prudential Regulation Authority (PRA) has said.

  • Investor group backs registry to bolster scrutiny of UK asset manager voting

    22 September 2023

    A proposal to create a system for harmonised reporting of UK asset managers' voting records and a registry to host this information would enable greater scrutiny of managers' voting practices, an investor group has said.

  • Adding SFDR product categories need not mean ditching Articles 8 and 9 - BNPP AM

    21 September 2023

    The addition of 'product categories' to the EU Sustainable Finance Disclosure Regulation (SFDR) to denote the sustainability ambition of funds need not spell the end of Article 8 and 9 distinctions, a senior executive at BNP Paribas Asset Management (BNPP AM) has argued.

  • US SEC adopts fund naming rules to tackle greenwashing

    21 September 2023

    The US Securities and Exchange Commission (SEC) is to require funds claiming environmental, social and governance (ESG) characteristics to prove they invest in line with the claim, under changes to its Names Rule designed to "prevent misleading or deceptive investment fund names".

  • UK prime minister under fire from industry for weakening climate policies

    20 September 2023

    UK prime minister Rishi Sunak announced he would delay a ban on the sales of new petrol and diesel cars and the phasing out of gas boilers, drawing a wave of criticism from investors and corporates who say the move harms plans for the transition.

  • Carbon pricing 'ripple effect' gaining momentum, UBS says

    20 September 2023

    Carbon pricing policies such as the EU's emissions trading scheme (ETS) and carbon border adjustment mechanism (CBAM) are "creating a ripple effect that increases the adoption of similar policies elsewhere," UBS analysts argue.

  • No need to scrap SFDR Articles 8 and 9, PwC says

    19 September 2023

    The EU could make "tweaks" to its Sustainable Finance Disclosure Regulation (SFDR), rather than wholesale changes that could lead to the Article 8 and 9 categories being scrapped, according to an executive at PwC Luxembourg.

  • Nature disclosures 'will become the norm'

    18 September 2023

    The final TNFD recommendations have been released, with a call for immediate adoption, writes Michael Hurley

  • Hydrogen 'hype' needs to be tempered, says Generation IM

    15 September 2023

    A "fast and furious" rush of planned projects to create clean hydrogen energy means that "the world might end up having more hydrogen in 2030 than it could actually use", Generation Investment Management has warned.

  • EU mulls scrapping Article 8, 9 distinction and creating sustainability 'categories'

    15 September 2023

    The EU is considering radical changes to its controversial Sustainable Finance Disclosure Regulation (SFDR) that could see it ditch the Article 8 and 9 designations that are widely used by investors to signal the sustainability ambition of funds.