Michael Hurley

ECB reveals three-pronged approach to incentivise decarbonisation

The European Central Bank (ECB) will from next month use a three-pronged approach to 'tilting' its purchases of corporate bonds towards those from issuers with higher climate scores, as it looks to incentivise issuers to decarbonise.

IOSCO welcomes work on global sustainability assurance standards

The International Organization of Securities Commissions (IOSCO) has welcomed work to develop globally applicable standards for the assurance of sustainability-related information.

NGOs resign from 'politicised' EU Platform on sustainable finance

Several members of the EU's Platform on sustainable finance have filed a notice of their resignation following the furore around the inclusion of nuclear in the taxonomy of sustainable activities.

Asset owners need climate clarity on emerging markets, says Lazard

A set of expectations of emerging market companies on their approach to decarbonisation is likely to hold lessons for investors globally, according to a senior executive at Lazard Asset Management.

US Fed planning climate scenario analysis for 2023

The US Federal Reserve plans to launch a pilot scenario analysis exercise next year, to assess the long-term, climate-related financial risks facing the largest US banks.

NGFS targets wider use of scenarios after release of third iteration

Climate scenarios for central banks and supervisors have been updated to include national 'net zero' commitments at the COP26 climate conference in Glasgow, ahead of a move to broaden the potential application of the scenarios to private financial institutions.

SEC rules may 'compel' companies to link pay to ESG, commissioner says

Rules that require US-listed companies to describe the link between financial performance and how much they pay their executives could mean that boards feel "compelled" to link remuneration to sustainability metrics, a senior official suggested.

Countries can learn from US climate bill ahead of COP, says Impax

The landmark US Inflation Reduction Act should instruct countries preparing to gather at the UN climate conference in November on how they can bolster emissions reductions plans and tackle ballooning energy and food price rises, according to Impax.

Marsh launches hydrogen insurance facility

Church Commissioners backs TIFD