News
Exxonmobil heads to trial after being accused of deceiving clients and investors on climate change
Exxon has lied to its investors and underestimated, or rather neglected to consider, the costs associated with climate change regulations. This mistake has had a significant impact on the profitability of the oil giant’s business operations and became the focus of a climate change trial that began...
The crisis in Ecuador demonstrates the risks of an unjust transition on the poorest populations
The Indigenous and most vulnerable segment of Ecuador’s population set the streets ablaze after a presidential decree ended subsidies that effectively doubled the price of fuel. The decision was a condition imposed by the IMF in exchange for a several billion-dollar loan.
Blackrock, Vanguard, JP Morgan : big investors declare climate engagement but rarely vote in its favor
The American organization Majority Action recently reviewed the voting trends of the world’s top 25 asset management firms’ shareholder resolutions, as they pertain to the climate. The result: major actors, such as BlackRock and Vanguard voted almost systematically against climate-related...
The first global summit on the sustainable development goals proves there is a long road ahead to achieving them
Four years after their adoption, the Sustainable Development Goals (SDGs) have become the focus of a first-ever summit at the UN. While certain targets seem increasingly unattainable, it may only be a matter of remobilizing the public and private actors needed to achieve results by 2030.
Modern Slavery and Responsible Investment: One Woman’s Shocking Testimony Spurs Call to Action!
A strong message was sent to the 1,700 participants of PRI in Person, an international event that was organized in Paris from September 10th to 12th, 2019. The message was clear: to be a responsible investor also means to focus on the S in ESG criteria by making the fight against modern slavery a...
Sustainable finance: MSCI acquires Carbon Delta, the rising star in climate risk assessment
The Environmental, Social and Governance (ESG) rating market is restructuring once again! The recent acquisition announcement by MSCI of the Swiss environmental fintech platform Carbon Delta confirms two major trends: the growing Americanization of the sector and the use of ESG data modeling by...
Cement: the next challenge for responsible investors
The cement industry is the second most carbon-emitting industrial sector. A coalition of investors has put a spotlight on the industry, to urge companies to achieve carbon neutrality by 2050. CRH, LafargeHolcim, HeidelbergCement and Saint-Gobain have all been targeted in order to conclude what...
Blackrock advocates for direct intervention from central banks in times of crisis
A new economic crisis may be on the horizon, according to numerous economists. In order to avoid a global recession, the Blackrock Investment Institute, a major American think tank and global asset manager, has suggested an original plan: equip central banks with funds that allow them to directly...
Ebola Outbreak: the World Bank fails to release funds to fight the epidemic
As the Ebola outbreak spreads through the Democratic Republic of Congo (DRC), questions have been raised concerning the World Bank’s ability to release the emergency funds raised on the bond market that were specifically created to prevent such pandemics.
Norway’s sovereign wealth fund backtracks on its decision to divest from oil
Two years ago, the Norwegian sovereign fund made an impressive move by announcing its divestment from hydrocarbons. This was a strong message for the sovereign fund as it has built its wealth on oil extracted from the North Sea. However, the final plan would only concern $5.7 billion of a $1.1...
Leaving carbon behind: Ursula von der Leyen wants to create a just energy transition fund for the EU
The next president of the European Commission is starting to shed some light onto her upcoming tenure this November. During a trip to Poland, Ursula von der Leyen said she wanted to create an investment fund to help transform coal-dependent countries. She also wants to launch a citizens conference...
The European Investment Bank turns its back on fossil fuels
The European Commission has recently published an ambitious climate strategy. The European Investment Bank, its financial tool for policy implementation, is in turn deciding to no longer finance projects linked to fossil fuels. This is somewhat revolutionary for the EIB, which is often criticized on...
[The World in 2050] At COP 56, the finance sector seeks to rid itself of fossil fuels from the past
Welcome to 2050. In a prospective way, our journalist, Arnaud Dumas, used the actual trends of finance to imagine what could be the finance sector by then. The "stranded assets crisis" of 2039 left serious consequences for the global economy. During COP 56, held in Paris in 2050, the French Minister...
G7 finance ministers meeting: Libra, the Facebook cryptocurrency worrying global leaders
G7 Finance Ministers met in Chantilly, France on July 17th and 18th to discuss the cryptocurrency that Facebook is set to launch next year. Ministers and regulatory authorities want more details on the cryptocurrency project. They fear the project’s magnitude due to Facebook’s billions of...
Five celebrities using their fame and fortune for a sustainable future
Robert Downey Jr., the actor known for his role as Iron Man, wants to launch the Footprint Coalition in 2020, a project aimed at using science to protect the environment. He is not alone in using his fame - and fortune – to serve the common good. Bono, Leonardo DiCaprio, Serena Williams, and Bill...
Shareholder Engagement Demonstrates Its Impact On Company Transformation In The Oil And Gas Sector
Investor coalitions are putting in place specific methodologies to question companies on their social responsibility. The Transition Pathway Initiative (TPI) and the Dutch NN Investment Partners explained the results they obtained from companies like Shell, BP and Tesla at Novethic’s 2019 Positive...
The great battle over the european classification system for sustainable activities has begun
Members of the European Commission’s technical expert group recently unveiled the fruit of a year’s worth of labor: a proposal for a regulation on the establishment of a classification system (i.e. taxonomy) to facilitate sustainable activities in Europe. As the backbone of the sustainable finance...
Three essential questions to navigating the jungle of sustainable finance labels
Sustainable finance labels provide valuable insights for investors seeking to manage their money more responsibly. However, there are significant disparities between many European sustainable finance labels, which makes it difficult to understand their true impact. To better understand this impact,...
ESG focus: Beyond Ratings moves to the London stock exchange!
On June 3rd, the London Stock Exchange announced the acquisition of Beyond Ratings, signifying the rise of sustainable finance in the London Stock Exchange. This French rating agency, created in 2014, specializes in the integration of ESG (environmental, social and governance) criteria into credit...
[Europe] The European union: a motor in the development of sustainable finance
European institutions deserve much credit for the recent momentum around sustainable finance. In less than three years, it has become a major focus of the Commission's financial markets policy. It is likely to transform the European economy, provided that differences of opinion between Member States...