British Cycling accused of ‘greenwashing’ after announcing Shell partnership
British Cycling has faced criticism from environmental groups after announcing an eight-year partnership with energy company Shell UK (LON: SHEL).
World’s largest sovereign wealth funds to act on climate
The members of the One Planet Sovereign Wealth Funds (OPSWF) coalition set out to establish a permanent organisation to track progress on three key areas of focus.
Employee mental health must become a priority: study
Despite an abundance of corporate pledges on mental wellbeing, companies are failing to translate this into action. Given current economic conditions, asset manager CCLA argues this must change.
US Treasury establishes climate-related financial risk advisory committee
The US Treasury has launched a climate-related financial risk advisory committee as part of the Financial Stability Oversight Council’s plans to better identify the risks that climate change poses to the financial system.
SSE Energy Solutions to fund sustainability drive for 4,500 SMEs
SSE Energy Solutions has partnered with sustainability-as-a-service platform Zellar to help small-medium enterprises (SMEs) across the UK to decarbonise.
Nestlé to invest 1 billion Swiss francs to make coffee farming more sustainable
Global FMCG giant Nestle (SIX:NESN), owner of instant coffee maker Nescafé, has updated its sustainability plans for the brand. This will entail the support of regenerative farming practices in coffee cultivation. This should lower emissions and help protect nature.
Large polluters fail to disclose climate risk
Carbon Tracker reviewed 2021 financial results of 134 of the world's largest polluters. It found that most failed to disclose climate risk data in a way that adequately quantified the associated liabilities. This was reflected in the fact that there was little evidence that auditors had considered the potential impact such risk on the balance sheet.
Louisiana to divest $794 million from BlackRock amid ESG row
The state of Louisiana has announced plans to remove all funds from BlackRock’s (NYQ:BLK) management. This is said to be in part due to concerns about the impact of its ESG investment strategy on financial return, but also regarding the impact on the local fossil fuel industry, a vital part of the state economy.
Google to support circular economy start ups
Google has announced the launch of an online only circular economy accelerator programme. Early-stage technology developers can apply to receive mentorship and technical help to accelerate the shift to circularity.
Lack of clarity on net zero goals undermines sustainable finance
Investor focused think tank Universal Owner has published analysis warning that ambiguous net zero goals are undermining sustainability claims in the finance sector. Further analysis of poor practice for sustainability-linked bonds is also a cause for concern.