Michael Hurley

ECB warns fossil-fuel-exposed banks they risk €21bn in annual losses by 2029

The European Central Bank (ECB) has delivered its starkest warning to-date of the damage a delayed transition to a net zero economy would inflict on the financial system.

Australian carbon border tax's inflationary impact may hit renewables - UBS

A proposed carbon border tax to ensure importers to Australia face the same costs on carbon emissions as domestic companies could drive inflation in the cement industry - costs which could be passed on to infrastructure and renewables sectors, UBS has projected.

Delay UK financial institution taxonomy reporting, expert group urges

The UK should allow financial institutions to delay reporting their alignment with a proposed 'green taxonomy' to enable them to benefit from access to corporate disclosures, an expert group has urged the country's government.

SFDR downgrades have not harmed investment flows, EU regulator says

A wave of downgrades of funds under the EU's Sustainable Finance Disclosure Regulation (SFDR) has not harmed inflows into these funds, according to the bloc's securities regulator.

EU regulator calls for increased scrutiny of biodiversity funds

The EU's securities regulator has recommended increased scrutiny of biodiversity funds as it noted a "surge" in inflows to funds domiciled in the EU.

Stress test US derivatives markets on climate, regulator recommends

The regulator of the US derivatives markets should stress test the resilience of financial institutions to potential physical impacts of climate change, according to a commissioner at the Commodity Futures Trading Commission (CFTC).

Many climate scenarios of limited use, as they don't model most likely case - Abrdn

Widely used models for projecting future impacts of the energy transition are of limited use for investors as they fail to project the most likely level of warming, an investor has argued.

Climate may force rate of inflation re-think, Australian central bank governor warns

Increasing uncertainty around the macroeconomic impact of climate change is likely to fuel a debate on how Australia's central bank manages inflation, its incoming governor has warned.

People moves, 25 August: CommBank, ISS ESG, JTC, Summa Equity ... and more

Abrdn invests in Italian biomethane production