ClimateTargets

New Zealand's Banks Under Scrutiny for Climate Target Collusion

14 days ago

In a major development for the banking sector, New Zealand authorities have initiated an investigation into several banks over allegations of colluding to set climate targets. This probe marks a significant step in the government's efforts to uphold transparency and accountability within financial institutions in relation to climate change commitments.

The Shift in Banking: Why Financial Institutions Are Lowering Climate Targets

28 days ago

In a notable trend across the banking sector, numerous financial institutions are significantly adjusting their climate targets, leading to a widespread reevaluation of sustainability commitments. This development has stirred discussions about the credibility and effectiveness of the banks' climate initiatives and the implications for the broader environmental landscape.

HSBC Postpones Climate Targets to 2050 as Green Initiatives Stumble

1 month ago

In a significant shift in strategy, HSBC Holdings Plc announced that it plans to postpone its climate targets until 2050, citing a slowdown in its progress toward achieving green finance goals. This decision marks a pivotal moment for the financial institution, which had previously committed to ambitious objectives aimed at curbing emissions and supporting sustainable projects.

Green Energy: A Troubling Indicator for European Union's Regulatory Future

2 months ago

The European Union (EU) is currently facing significant challenges regarding its green energy commitments, which have come under scrutiny as the bloc begins to rethink its regulatory frameworks. This shift raises concerns over the commitment to ambitious climate and environmental goals established in previous years.

World Bank Chief Asserts Commitment to Climate Targets Amidst Trump's Potential Presidency

5 months ago

In a recent statement, Ajay Banga, the President of the World Bank, emphasized a firm commitment to sustaining its climate initiatives, even in the anticipated scenario of Donald Trump returning to the presidency. Banga's remarks come in response to concerns surrounding Trump's previous stances on climate change and his track record during his earlier administration when he withdrew the United States from the Paris Agreement.