Shell investors call for more action on climate change at AGM

The company defeated a resolution backed by 5.54% of shareholders calling for it to set tougher emissions targets in line with the Paris Agreement

Energy giants and investors urge close EU-UK ties after Brexit

Brexit Secretary David Davis MP is being urged to develop a “comprehensive Climate and Energy Chapter” covering both trade and non-trade issues

Less than half of banks ‘taking climate change seriously’

Less than half of the world’s biggest banking groups have carried out a scenario analysis for if global temperatures rise by more than 2°C. That’s according to a new report from Boston Common Asset Management, based on a survey of 59 financial institutions. It suggests the majority of banks are failing to successfully integrate climate […]

New EU initiative targets private investors for energy efficiency

Plans to create a new initiative aimed at making investments in residential energy efficiency projects more attractive to private investors have been approved. The Smart Finance for Smart Buildings project, together with other EU policy initiatives, aim to unlock a total of €10 billion (£8.75bn) in public and private funds between now and 2020 for […]

Investors target top 100 emitters for climate action

Investors with more than $26.3 trillion (£19.6tn) in assets under management have pledged to push the world’s largest corporate greenhouse gas emitters to step up their actions on tackling climate change. The initiative known as Climate Action 100+, launched by 225 institutional investors, led by funds including HSBC Global Asset Management, Australian Super and CalPERS, […]

Deforestation risks $941bn – leaf it out!

International businesses are risking $941 billion (£711bn) of investments by failing to adequately address the risks posed by deforestation. That’s according to a new report from CDP based on 201 global companies’ disclosures regarding the four commodities responsible for the bulk of deforestation and forest degradation – cattle products, palm oil, timber products and soy. […]

Aviva banks on solar with £5m portfolio

Aviva Investors has bought residential and school rooftop solar assets for £5 million. Investment manager Downing sold the Avon Solar Energy and Westcountry Solar Solutions portfolios, which include 221 installations across southern England and Wales. They were developed by Britannia Solar and Ethical Power. Downing had invested in the assets between 2011 and 2013 after […]

Commonwealth Bank sued by shareholders over climate change risks

Two shareholders have launched legal action against the Commonwealth Bank of Australia for allegedly failing to “adequately disclose” climate change risks. The claim has been filed today in the Federal Court by Environmental Justice Australia on behalf of Guy and Kim Abrahams. The case is said to be the world’s first launched by shareholders to […]

Ofgem sets out new UK energy strategy

Ofgem has set out its strategy aimed at driving innovation and supporting the transformation to a low carbon energy system. It believes the energy sector is undergoing “fundamental change” and regulatory and market arrangements will need to evolve to ensure this happens in a way that protects and advances consumers’ interests and enables them to […]

Ofgem signals tougher price controls for energy networks

Ofgem has warned energy network operators to brace themselves for a tougher round of price controls from 2021. The regulator believes there is “strong evidence” that investors are “increasingly willing” to accept lower returns from longer term investments in regulated infrastructure. Price controls are needed as these networks are monopolies and therefore there is no […]