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LONDON (Reuters) - The world’s banks, asset managers and insurers should provide more information to investors about the greenhouse gas emissions from the activities they finance, a group that tracks emissions data said on Wednesday.
CDP, which maintains a system used by hundreds of companies, cities, states and regions to voluntarily disclose their emissions data, published a report on Wednesday that emphasised the need for better data from finance companies.
It said that of 332 companies to respond to its climate questionnaire, just 84, including insurer AXA and banks HSBC and BNY Mellon, had disclosed the emissions from their lending, underwriting or investment portfolios.
When Microsoft Corp made a massive purchase of carbon credits in January, it turned to a relatively new source: farmers who plant crops meant to trap carbon in the soil.
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WASHINGTON (Reuters) - The World Bank and the International Monetary Fund are planning to launch a platform to advise poor countries on funding climate and conservation activities, amid a broader push that could link such spending to debt relief, according to a draft document seen by Reuters.
FILE PHOTO: International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, U.S., October 9, 2016. REUTERS/Yuri Gripas/File Photo
The advisers would include U.N. officials, nongovernmental organizations, private investors and even ratings agencies with expertise in sourcing investment, including grants, low- or no-interest loans and conditional debt relief, the document says.
By Reuters Staff
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SHANGHAI (Reuters) -China will start to phase down coal consumption over the 2026-2030 period as part of its efforts to reduce climate-warming greenhouse gas emissions, President Xi Jinping told the Climate Leaders’ Summit on Thursday.
FILE PHOTO: Chinese President Xi Jinping applauds at the closing session of the Chinese People s Political Consultative Conference (CPPCC) at the Great Hall of the People in Beijing, China March 10, 2021. REUTERS/Carlos Garcia Rawlins/File Photo
“We will strictly control coal-fired power generation projects,” Xi said, speaking via video link.
“We will strictly limit the increase in coal consumption over the 14th five-year plan period (2021-2025) and phase it down in the 15th five-year plan period (2026-2030).”
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FILE PHOTO: Nikhil Rathi CEO of the London Stock Exchange UK Division arrives at 10 Downing Street in London, Britain January 11, 2018. REUTERS/Peter Nicholls
LONDON (Reuters) - Britain’s financial markets regulator has hired one of the UK’s most important corporate governance figures, Legal & General Investment Management’s Sacha Sadan, to lead the development of its sustainable finance policy, it said on Monday.
The Financial Conduct Authority said Sadan, who had served as head of investment stewardship with Britain’s biggest asset manager for around a decade, will take up the newly created role of director of environment, social and governance this summer.