Scenarios used by central banks to conduct climate-risk stress tests have been criticised as not fit for purpose because they fail to account for severe economic shocks caused by climate “tipping points”.
Institutions across the globe have welcomed the ISSB’s much-anticipated inaugural global sustainability standards. However, some industry experts warn that too much focus on standardising data could distract from the urgent need to decarbonise.
Insurers with climate commitments have found themselves at the centre of a heavily politicised debate over whether coordinated climate action contravenes antitrust laws, leading three major insurers to exit the Net-Zero Insurance Alliance this week.
Vanguard’s recent exit from the Net Zero Asset Managers initiative is more evidence that US Republicans’ anti-ESG movement is having a chilling effect on investors. However, just how far the reactionary movement could hinder the energy transition is unclear.
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