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Search resuls for: "Virginia Furness Simon Jessop"


3 mentions found


☆ Greenwashing crackdown in Europe leaves investors in the dark
  + stars: | 2023-03-10 | by ( Virginia Furness Simon Jessop | Virginia Furness | Simon Jessop | ) www.reuters.com   time to read: +9 min
The SFDR defines sustainable investment as contributing to "an environmental or social objective", assessed by indicators such as use of raw materials or production of waste. The people Reuters spoke to said discrepancies among fund portfolios reflected a lack of clarity from the Commission over what constitutes a sustainable investment. Reuters GraphicsReuters GraphicsTEMPERATURE GAUGEMSCI, the finance industry data provider, has developed a way of checking on investment funds' green credentials with its ESG Implied Temperature Rise tool. Among them, for example, are BlackRock's Sustainable Energy Fund, Nordea's Global Climate and Environment Fund and Pictet's Global Environmental Opportunities Fund. "The characterisation of what constitutes a sustainable investment under the SFDR is also a concept that needs further clarifications at European level."
☆ Steel recycler beats wind firm to become world's most sustainable company
  + stars: | 2023-01-18 | by ( Virginia Furness Simon Jessop | Virginia Furness | Simon Jessop | ) www.reuters.com   time to read: +3 min
Rather surprisingly, research firm Corporate Knights says the answer is Schnitzer Steel Industries (SCHN.O), a U.S. scrap steel recycler, which has knocked wind turbine maker Vestas Wind off the top spot. "Schnitzer Steel is the first steel company to top the Global 100," said Corporate Knights CEO Toby Heaps. "If one of the world's dirtiest sectors can produce the most sustainable company in the world, then there is no excuse for any company in any sector not to step up." In 2022, the Global 100 beat the ACWI on an annual returns basis by 2.8% though both were significantly down on 2021 at -15.6% and -18.4% respectively. Between 2013 and 2022, the Global 100 returned 145.1% compared to 115.4% for the MSCI ACWI.
☆ African insurers take up climate change fight with $14 bln pledge
  + stars: | 2022-11-09 | by ( Virginia Furness Simon Jessop | Virginia Furness | Simon Jessop | ) www.reuters.com   time to read: +2 min
Summary 85 insurers make pledge to extend climate coverComes as COP27 talks focus on issue of loss & damageAfrican Climate Risk Facility to cover 1.4 bln peopleSHARM EL-SHEIKH, Nov 9 (Reuters) - A group of over 85 African insurers has pledged to provide $14 billion of cover to help the continent's most vulnerable communities deal with climate disaster risks such as floods and droughts. Demand for compensation for the so-called 'loss and damage' caused by global warming has long been rejected by wealthy countries, wary of accepting liability for the emissions driving climate change. Against that backdrop, the African insurance plan is based around creating a scaleable, local market-based funding tool for resilience, the group said. "This is the African insurance industry saying let's come together and try and solve this ourselves," said Kelvin Massingham, director risk and resilience at FSD Africa, one of the partners behind the launch. The African Climate Risk Facility (ACRF) will provide protection for 1.4 billion people against floods, droughts and tropical cyclones by providing $14 billion of climate risk insurance by 2030 to African sovereigns, cities, humanitarian organisations and NGOs, the insurers said in a statement.
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