April 2021
29Apr

Rethinking Retirement Savings

By Jason Fernandes, Janelle Orsi In this Commentary, we demonstrate that the rules governing retirement savings have been funneling tens of trillions of dollars into a narrow class of return-maximizing investments, including industries that have been driving inequality and widespread ecological destruction. The Employee Retirement Income Security Act of 1974 (ERISA), along with its state law analogs, directs trustees to seek the highest risk-adjusted return on plan assets, regardless of the consequences to workers, their communities, and the planet. American...

April 29, 2021
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22Apr

Australian regulator issues long-awaited climate risk guidance

Australia's prudential regulator unveiled long-awaited guidance for banks, insurers and pension funds on managing and disclosing climate-related risks, including physical, transition and liability exposures. Issuing a draft version for consultation, the Australian Prudential Regulation Authority (APRA) said the guidance paper did not create new requirements or obligations, but gave more clarity about its expectations. The guide was developed in consultation with peer regulators globally and is aligned with the recommendations from the global Task Force on Climate-related Financial Disclosure (TCFD), set...

April 22, 2021
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19Apr

Fintech but make it eco-friendly.

Green finance has long been becoming more and more popular as the race to save our planet is increasingly important. For years now we’ve heard about how we all need to do our bit to slow the rapid pace of global warming and it seems like the message has taken a hold of the fintech world. There’s a growing trend among firms in the sector to operate in a more eco-conscious manner, from planting trees to offering fossil-fuel-free investment options, the...

April 19, 2021
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08Apr

Climate change worse than pandemic: UK regulator

The chief executive of the UK's Pensions Regulator believes climate change will be more catastrophic to populations' way of life than the COVID-19 pandemic if no action is taken. The comments came as The Pensions Regulator chief executive Charles Counsell introduced the regulator's new climate strategy, providing pension funds with a framework for disclosing climate information and achieving net zero emissions by 2050. Counsell said: "In recent times we've faced a crisis caused by a pandemic. We've all taken urgent action...

April 8, 2021
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07Apr

Canada pension speeds up renewables push with new sustainable energy group

Canada Pension Plan Investment Board (CPPIB) said on Tuesday it will create a new investment group that focuses on sustainable energy, in a bid to boost its portfolio of renewable energy investments. Read also The U.K.’s policy on overseas pensions is costing Canadian taxpayers Pension and infrastructure funds have been investing more in the renewable energy space, given the steady returns such assets generate, amid a push for tackle climate change. The new group, Sustainable Energy Group (SEG), will combine Energy &...

April 7, 2021
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March 2021
03Mar

Can the United States accelerate sustainability in financial regulations?

In the last few years, while multiple countries have made progress in developing sustainable-finance plans to help direct investment to climate solutions and environmentally beneficial companies and products, the United States, under the administration of former President Donald Trump, moved to weaken environmental regulations and discourage sustainable investing. With the arrival of President Joe Biden’s administration, the United States could rapidly roll out policies to make up lost ground. Sustainable-finance plans advance globally Around the globe, countries are stepping up to...

March 3, 2021
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February 2021
15Feb

How your retirement investments can help protect the environment

As a climate-conscious consumer, you might already be cutting down on your water use, buying from eco-friendly companies for your everyday needs, and making the switch away from single-use plastic. But have you thought about how your money is impacting the environment when it's not in use? Take your retirement account. If you're lucky enough to have retirement investment options, you most likely consider it a "set it and forget it" kind of decision. But there's good reason to go...

February 15, 2021
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10Feb

China. Green finance gets newfound incentivization

China will make it easier for international investors to access the country's green finance market by promoting the harmonization of domestic and global green standards as part of its efforts to achieve net-zero emissions by 2060, central bank officials said on Tuesday. Read also Asia needs pension reforms for sustainable growth The green finance industry in China needs to learn from the asset management experiences of foreign investors, such as multinational pension funds and insurance companies. Large capital injections are also...

February 10, 2021
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09Feb

Debt for Climate: Green Bonds and Other Instruments

By Paul Rose This chapter, prepared for the Edward Elgar Research Handbook on Climate Finance and Investment Law (2020, Michael Mehling and Harro van Asselt (eds.)), examines the rise of green bonds, climate bonds, and other green financial instruments. Although climate finance has enjoyed positive momentum in recent years, this momentum is at risk—with the possibility of reversal—if climate markets fail to provide competitive risk-adjusted returns. For climate finance to compete effectively, governments, issuers, and investors must resolve a...

February 9, 2021
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05Feb

Investigation: Dutch, Japanese pension funds pay for Amazon deforestation

Two pension funds in the Netherlands and one from Japan have invested a combined half a billion dollars in Brazil’s top three meatpackers. These investments in cattle ranching, an industry that’s the main driver of Amazon deforestation, contradict the environmental stances of the respective funds and their national governments. The fund managers and other experts say maintaining their stake is a more effective way of pushing for change in the companies than simply dumping the stock. But there’s also a growing realization...

February 5, 2021
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