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"There has never been an environmental performance benchmark before and now there is one in law, and 6,000 listed European companies and every financial fund product in Europe will have to use it as a reference benchmark."
That is what the chief responsible investment officer at the United Nations-backed Principles for Responsible Investment told S&P Global Market Intelligence about the new European Union classification system on climate-friendly investments. In this first ESG Insider newsletter of 2020, we examine how that system is poised to radically change the way companies and investment firms report on their environmental performance.
On the other side of the Atlantic, Wall Street's top regulator has proposed higher hurdles for shareholder resolutions. Our Chart of the Week shows how that change might impact ESG-related shareholder proposals.
Chart of the Week
SEC proposed rule would have blocked 614 ESG resolutions since 2010, data show
More than 600 ESG-related resolutions since 2010 likely would never have advanced under a newly proposed rule by the SEC, according to data from the Sustainable Investments Institute that was shared with S&P Global Market Intelligence.
EU taxonomy to provide investment benchmarks, transform environmental reporting
European Union governments recently agreed on a new classification system for climate-friendly investments, a move that will provide the basis for measuring a financial product's sustainability and thresholds for companies that are adapting to a changing climate.
For capital break on 'green' investments, climate risk assessment is crucial
As European regulators weigh easing prudential rules for financial institutions that shift toward more sustainable investments, the banking industry is working to determine how to measure climate risks on a bank's balance sheet.
NAIC to prioritize climate risk in 2020 as catastrophes grow
Banks moving too slowly on climate change, BoE's Carney says
Protection gap persists across insurance world, despite some progress
Lawmakers demand answers from JPMorgan after discrimination allegations
Court finds Orange, former CEO guilty over employee suicides
Facebook looking into data exposure of 267 million users
Wave of institutional divestment from coal mining, generation develops in 2019
US coal mining fatalities drop 60% this decade from 1990s, 43% from 2000s
Another new policy highlights growing trend of US insurers abandoning coal
Emerging markets, central banks & the future of green monetary policy
Investing for Impact
ESG & Sustainability Forum
Water & Long-Term Value
ESG and Sustainable Investments Forum
Disruptive Sustainability Technologies
Palo Alto, Calif.
US SIF 2020 Annual Conference
The Forum for Sustainable and Responsible Investment
Questions or suggestions? Contact S&P Global Market Intelligence's ESG News team at ESGNews@spglobal.com.