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What is the energy transition?
The future of energy is about more than just the move from fossil fuels to renewable power. It involves the decarbonisation of all sectors of the economy
ADB will no longer finance coal power
Banks put financed emissions under greater scrutiny
Carbon accounting initiative grows amid pressure on institutions to report emissions from investment portfolios
Banks call for global rules on climate risk
Common standards would help banks to factor climate risk into assessments and finance decarbonisation
HSBC faces shareholder pressure to cut fossil fuel financing
Investors are turning their attention to the banking sector, which pours billions into hydrocarbons each year despite committing to support net-zero by 2050
International agreement is vital to climate risk assessment
Banking
Tom Young
25 March 2021
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Banks call for global rules on climate risk

Common standards would help banks to factor climate risk into assessments and finance decarbonisation

Establishing a clear set of rules to account for companies’ exposure to climate risk is vital if banks are to play a bigger role in financing the global energy transition, according to a panel at the Climate Governance Initiative Global Summit on Tuesday. Such rules would help banks to better integrate climate risk when assessing the business cases of the companies they finance, for example making renewables more attractive and fossil fuels less so. “What we fear is that companies… will fail to focus on reducing emissions from their own activities and instead take the ‘easy option’ of purchasing offsets” Fahy, KBI Global Investors Multilateral development banks (MDBs) have led the wa

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