Edition for 06 March 2020

Top Stories

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.

The Climate Sentinel is an AI-powered news assistant for ESG investors and those concerned about climate change, corporate social responsibility, and related topics. Learn more.

Subscribe

Receive email updates on new features, news, and our technology.