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An analysis of 150 of the world's largest financial firms has found that 93 do not have policies to prevent deforestation caused by the companies they invest in and lend to.
Insurance company AXA has unveiled a new €1.5bn commitment to improve biodiversity and combat deforestation across key global hotspots.
Can the Taskforce on Nature-related Financial Disclosures solve the global ecological crisis? The Taskforce on Nature-related Financial Disclosures (TNFD) officially launched on Friday (4 June) with an overarching aim to align corporate reporting and financial spending to alleviate nature-related risks. Here, edie explores whether the new initiative can generate enough momentum to deliver tangible change. The TNFD has officially launched today There has been a recorded 83% extinction of wild mammals and a 50% decline in the species of plants, according to the World Economic Forum (WEF). Those...
Banks urged to set time-bound targets to tackle deforestation A new report has outlined how banks can take proactive steps to improve traceability and accountability of contributions to deforestation, as part of a first step to accelerating action towards a forest-restorative economy. Some of the world's largest banks have been linked to industries that are causing mass deforestation and biodiversity loss The new report details an action plan set out by the University of Cambridge Institute for Sustainability Leadership (CISL) as to how banks can play a role in halting global deforestation. I...
Banks pressured to divest from fossil fuels and deforesters ahead of COP26 MPs, trade bodies and the UN's Environment Programme are urging banks to unify their response to the net-zero transition ahead of COP26 next November and commit to time-bound phase-outs for fossil fuel finance. Green finance has been a major topic amid the events of 2020 The call to action is being made by Bankers for Net-Zero – an initiative convened by the APPG on Fair Business Banking, along with Volans and Re:Pattern. Bankers for Net Zero was formed shortly after the UK set its net-zero target in law and was conf...