Michael Hurley

US banks facing NYC pension fund pressure on climate targets

Bank of America, JP Morgan Chase and Goldman Sachs are preparing to face a shareholder vote on a resolution asking them to set absolute greenhouse gas (GHG) emissions reductions targets, as a major investor criticised them for "lagging peers" in this area.

'Reasonable to expect' banks will meet ECB climate expectations, says Elderson

It is "reasonable to expect" Eurozone banks will, by 2024, close the gap between their currently inadequate disclosures on climate-related risks and the expectations of the European Central Bank (ECB), according to a senior central banker.

ECB warns banks are still failing on climate disclosures, and threatens action

Eurozone banks have been given a stern warning by the European Central Bank (ECB) that it is ready to act if they do not improve "insufficient" disclosures on climate ahead of rules coming into force this year.

Impact manager Incofin draws institutional investment

Impact investment manager Incofin has raised an undisclosed amount from Degroof Petercam Asset Management and Korys.

Riksbank warns of financial stability risks from 2.8°C-aligned funds

The holdings in 122 listed equities mutual funds in Sweden are, on average, aligned with a temperature increase of 2.77°C, according to analysis by the country's central bank.

EU Platform announces data, taxonomy working group leads

Representatives of Axa Investment Managers and SEB have been appointed to lead groups in the EU Platform on data, usability and monitoring capital flows towards sustainable investments.

German 'engagement platform' group to push BaFin for legal assurances

A group developing a German "platform" for collaborative sustainability engagement is to ask regulator BaFin to approve its process, to allay investor fears of being punished for acting in concert.

SLB format is a good fit for biodiversity bonds, Axa IM says

Organisations looking to demonstrate their contribution to biodiversity conservation could be best served by issuing a sustainability-linked bond (SLB) rather than a green bond, according to an analyst at Axa Investment Managers.

S&P-Shades of Green second party opinion slated for June release

UK regulator says SDR will avoid conflicts with SFDR reporting

The UK regulator developing the country's Sustainability Disclosure Requirements (SDR) said it is wary of creating a "parallel regime" to the EU's sustainability disclosure rules, ...