ERAFP joins UN-convened Net-Zero Asset Owner Alliance (UNEPFI)
- By joining the Net-Zero Asset Owner Alliance, an initiative co-convened by PRI and UNEP FI, ERAFP is formalizing its commitment to the decarbonization of its portfolio, with a view to achieving a carbon-neutral investment portfolio by 2050 and thus helping to prevent the global temperature from rising above the 1.5°C target set by the Paris Climate Agreement.
- ERAFP CEO Laurent Galzy said: "As an institutional investor, it is our responsibility to contribute to carbon neutrality by 2050."
- The Alliance will work closely with portfolio companies to change their business models and adopt climate friendly practices.
U.S. oil boom vs Europe's renewables focus? Big Oil's gap widens -- in words (Reuters)
- Exxon and Chevron boasted to investors this week about booming U.S. oil production, illustrating how the gap has widened - at least in words - between top American oil and gas companies and their European rivals over efforts to transition to clean energy and fight climate change.
- At the same time, a growing climate movement is pressuring governments and corporations to lower emissions as the world warms.
- “These companies all have very similar business models,” said Ben Ratner of the Environmental Defense Fund.
Mining companies’ social risks important but difficult to measure: panel (Benefits Canada)
- The most material and least quantifiable risks for mining companies lie in the social component of environmental, social and governance issues — and that’s where institutional investors looking at the sector should be focusing their attention and advocacy.
- Speaking at a panel discussion in Toronto on March 3, Amy Freedman, chief executive officer of shareholder advisory firm Kingsdale Advisors, said investors are increasingly asking mining companies about financially material ESG issues.
- And as you’ll see with many of the larger funds, there are individuals at the fund manager level that are responsible for ESG.
Environmental disaster or key to a clean energy future? A new twist on hydropower (LA Times)
- Lowe rejects those arguments, saying his proposal has survived round after round of environmental review and would only drain a tiny fraction of the underground aquifer.
- The project’s fate may hinge on a question with no easy answer: How much environmental sacrifice is acceptable — or even necessary — in the fight against climate change?
- There’s been a similar flurry of commitments among utilities outside those states, with major power providers based in Arizona, Michigan, Minnesota, North Carolina and Virginia promising to achieve net-zero carbon emissions by 2050 or sooner.
Brian Pallister says Manitoba will enact its own carbon tax to avoid getting ‘the Trudeau tax’ (National Post)
- Manitoba Premier Brian Pallister offered a carbon-tax compromise of sorts Thursday to the federal government and to some Progressive Conservative supporters who have opposed any such levy.
- He said Manitoba will enact a flat $25-per-tonne carbon tax on July 1.
- Pallister said he hopes the federal government will abandon its demands and respect Manitoba’s plan, since his province has been much more open to a carbon tax than Saskatchewan, Alberta and Ontario.
This winter in Europe was hottest on record by far, say scientists (Guardian)
- Climate crisis likely to have supercharged temperatures around world, data suggests.
- This winter has been by far the hottest recorded in Europe, scientists have announced, with the climate crisis likely to have supercharged the heat.
- The EU’s Copernicus Climate Change Service (C3S) data dates back to 1855.
- New regional climate records are usually passed by only a fraction of a degree.