Posts Tagged ‘oil and gas’
Danske Bank Quits New Fossil Fuel Financing
This article was written by Mitchell Beer and originally published in The Energy Mix on January 23, 2023. Denmark’s biggest bank has declared an end to fossil fuel financing, after concluding that 99.9% of its carbon footprint comes from financed emissions. Danske Bank supports “an orderly transition to low-carbon economies and will, for that reason,…
Read MoreHSBC to end funding for new oil and gas fields
This article was written by Esme Stallard and originally published by BBC on December 14, 2022. HSBC has announced it will stop financing new oil and gas fields, as part of its efforts to drive down global greenhouse gas emissions. Environment groups said the move sends “a strong signal” to fossil fuel giants that investment…
Read MoreDanske Bank Position on Fossil Fuels
Danske Bank, a Danish banking company recently published a statement outlining its position on fossil fuel investments. To read this statement, click here.
Read MoreEurope’s Biggest Pension Fund Issues ESG Warning to Banks
This article was written by Frances Schwartzkopff and initially published in Bloomberg on January 23, 2023. One of Europe’s biggest investors is putting banks on notice and may start exiting the sector unless it sees proof that claims of portfolio decarbonization are matched by action. “The financial sector has really lagged,” said Dominique Dijkhuis, a member…
Read MoreNYC Comptroller Lander and City Pension Funds Call on Major U.S. and Canadian Banks to Set Absolute GHG Emissions Targets for High Emitting Sectors
This statement was originally published by the New York City Comptroller on January 24, 2023. New York, NY – Today, New York City Comptroller Brad Lander and three of the New York City Retirement Systems (the New York City Employees’ Retirement System, Teachers’ Retirement System, and Board of Education Retirement System) announced shareholder proposals at Bank of America, Goldman…
Read MoreWhy Canada Needs to Plan for a Steep Decline in Global Oil Demand
This piece was written by Aaron Cosbey and originally published in the International Institute for Sustainable Development on September 16, 2022. Summary International Energy Agency scenarios project a decline in oil demand globally as climate policies intensify. Canada’s own energy body, the Canada Energy Regulator, shows a projected decline in Canadian production. Decline in oil…
Read MoreGiving up on 1.5C climate target would be gift to carbon boosters, says IEA head
This article was written by Fiona Harvey and originally published in The Guardian on November 30th, 2022. The world can still limit global heating to 1.5C, and to claim that the target is now out of reach is to play into the hands of fossil fuel proponents, the world’s leading energy economist has warned. Fatih…
Read MoreGuilbeault optimistic about targets even as Canada’s emissions rebound post-pandemic
This article was written by Mia Rabson and was originally published in CBC on November 11, 2022. Canada’s carbon dioxide emissions crept back up in 2021 after falling sharply during the first year of COVID-19, and experts believe they will go up even further this year as the return to normal has accelerated. The European…
Read MoreStop Greenwashing, Set Regulated Net-Zero Targets, McKenna Task Force Urges
This article was written by Mitchell Beer and originally published in The Energy Mix on November 9, 2022. Climate science and the depth of the climate emergency demand that industries, financial institutions, cities, and regions commit fully to real net-zero targets, end new fossil fuel investment, stop greenwashing their activities, start lobbying for rather than…
Read MoreCanadian Pension Fund Rejects Divestment, Takes Fire for Fossil ‘Entanglement’
This article was written by Gaye Taylor and originally published in The Energy Mix on November 2, 2022. The CEO of the pension fund that controls retirement investments for 21 million Canadians has reconfirmed his position that “engagement,” not divestment from fossil fuel companies, is the right way forward during the global energy transition. John…
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