Investors fear that many Asian governments aren’t doing enough to transition to net zero. They are therefore engaging with the region’s largest utilities hoping for better results. CLP may be an example for others to follow.
Supervisors attending this year’s meeting of the Institute of International Finance were at pains to show they would not be rushing to impose capital penalties on banks based on climate stress tests. But the issue is at the heart of a debate over what the limits to regulatory scope should be.
President Xi Jinping has set out bold plans to decarbonize China’s economy. But most companies and banks, hampered by a lack of top-down regulation, have little idea what ESG is, let alone how to measure and report it. It is a mess – and one that China needs to clear up fast.
James Gifford’s life changed when he hopped aboard a flight from Sydney in 2003. The team he joined in Geneva framed the UN’s Principles for Responsible Investment, created the concept of ‘ESG’ and changed the world.
The world has been pressuring Brazil about the deforestation of the Amazon rainforest within its borders for decades. New ESG-style initiatives are being adopted by Brazilian banks and businesses, but it could be the climate impact closer to home that’s creating the impetus for real change.
Many parts of Africa present formidable obstacles to financial inclusion. Euromoney speaks to some of the pioneers that are using technology to bring far-flung populations into the financial system.
What They Said
Jean Boissinot, deputy director for financial stability at the Banque de France, says that institutions cannot wait for perfection on climate stress tests
Credit Suisse’s James Gifford explains how the UN’s PRI were made
Isabelle Laurent says the EBRD aims to address the demand for full portfolio disclosure
Gustavo Montezano, president of BNDES, takes a robust approach to sustainability