Report warns investors to consider financial impact of climate change
Climate change and extreme weather conditions pose huge risks to investors, so mitigation strategies are necessary to avoid future losses, according to a report by a network of institutional investors. The Investor Group on Climate Change (IGCC), based in Australia and New Zealand, presented three reports about climate risks...
UN urged to embrace sustainable development goals
Scientists have argued that world leaders need to introduce six new sustainable development goals (SDGs) to achieve global sustainability. Following UN meetings earlier this month, a study in the journal Nature by a group of international scientists has argued that the millennium development goals (MDGs) are no longer enough to alleviate...
Ecology scoops top gong at New Energy & Cleantech Awards 2013
Ecology Building Society was last night named Company of the Year at the New Energy & Cleantech Awards 2013, for its “committed” work in sustainable finance. The Yorkshire-based organisation, which featured in Blue & Green Tomorrow’s Guide to Sustainable Banking 2012, won Financier of the Year and then received...
Triodos Bank reaches £500m sustainable lending landmark
Dedicated ethical bank Triodos has revealed it has reached a financial milestone, after breaking the £500m barrier in its lending to sustainable businesses and organisations. Following a 15% increase in lending activity last year, Triodos’ UK arm said it had lent £486m by the end of 2012 – a...
Co-op Group records loss after ‘challenging’ year
The Co-operative Group has revealed that its retail arm and core banking section delivered figures that met its expectations and that it reduced its carbon emissions in 2012. But losses in non-core banking have adversely affected the organisation’s profits. Preliminary results show that its core banking division made profits...
First State annual review highlights importance of responsible investment
First State Investments has unveiled its 2012 Annual Report, in which responsible investment is highlighted as “critical” in securing long-term success for the business. Launched in London on Tuesday, the report maps out First State’s approach to responsible investment, while also laying out how its various teams across the...
Myopic budget threatens UK’s long-term prosperity
Populist, pandering and pathetic are all adjectives that lend themselves to George Osborne’s fourth budget speech. Entrepreneurs, businesses, scientists, local communities, parents and NGOs will be rightly dismayed. Populist in that it offers relief on income tax, beers and cars. Pandering as it will appeal to the tabloid’s headline writers. And...
Budget 2013: industry reaction
George Osborne gave his fourth budget statement as chancellor of the exchequer in parliament this afternoon, but his speech was light on support for the green economy. Here’s the pick of the reaction. Click here to read more about what Osborne had to say. John Sauven, executive director at...
Budget 2013: green measures neglected as Osborne favours fracking
George Osborne offered tax breaks for shale gas developments, scrapped a rise in fuel duty and gave backing to more new roads, in a budget statement this afternoon that sent out little support to the sustainability sector. The statement, Osborne’s fourth as chancellor of the exchequer, included only a...
Budget 2013: renewables industry expects ‘measures to boost investment’
The Renewable Energy Association (REA) has said it wants George Osborne to say that renewable energy will play a key role in creating jobs and encouraging economic growth in the UK, when he reveals his 2013 budget this afternoon. Referring to Lord Heseltine’s No Stone Unturned report about creating conditions...
Budget 2013: green businesses call for sustainable ISA incentives
George Osborne could “mobilise billions for investment in sustainable sectors” by installing tax incentives for green ISAs, according to two leading sustainable finance organisations. The chancellor will reveal the Treasury’s spending plans for the coming year in a speech in the House of Commons at 12.30pm today, and both ethical...
Study lauds role of ‘smart gas’ in UK energy mix
Extensive gas exploration in the UK could lead to an unsustainable and expensive energy future, according to a new study. Natural gas is said to help reduce energy prices and emissions and enhance energy security, and it is these benefits that have led to new investments into gas exploration...
Metric launched to help investors compare sustainability of firms
A collaborative project by sustainable investment specialists RobecoSAM and climate change reporting platform the Carbon Disclosure Project (CDP) is set to make it easier for investors to compare information about different companies’ sustainability. RobecoSAM, which recently co-developed the Dow Jones Sustainability Emerging Markets Index, will be asking businesses about...
Hinkley nuclear power station gets planning consent
Planning consent was yesterday given to the first new nuclear power station in the UK since 1995 – a decision that environmental groups have condemned. Energy secretary Ed Davey confirmed that EDF – the energy giant that recently became embroiled in a bitter legal row with climate campaign group No...
Charity Bank drops charity status and sets sight on sustainable growth
One of the UK ethical banking sector’s biggest names, Charity Bank, is to drop its status as a registered charity in an effort to boost its lending to the charitable and social sectors. The shake-up comes after new banking regulations made it difficult for the organisation to operate as...
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