UK's FCA, State of the Union, Shell, IEA, and Climate Migrants
Here are 5 ESG insights you might have missed this week:
1. UK's FCA- Finance for Positive Sustainable Change-
We are asking for views on sustainability-related governance, incentives and competence in regulated firms.
This Discussion Paper also includes commissioned articles from experts with relevant and interesting perspectives on firms’ sustainability-related governance, incentives, competence and stewardship arrangements. We are grateful to the authors for their views and contributions.
To help the financial industry deliver against its potential to drive positive sustainable change, we are encouraging an industry-wide dialogue on firms’ sustainability-related governance, incentives, and competence.
Link to Source: https://www.insightsesg.com/post/uk-fca-finance-for-positive-sustainable-change
2. What Biden's State of the Union Said About Climate-
Biden's State of the Union defines climate action as common sense.
"It’s an issue of values, one “we have an obligation to our children and grandchildren to confront,” he said in the speech. It’s common sense, a need to stop floods and weather related blackouts. And it’s a pocketbook issue, a matter of new jobs for union workers, lower utility bills, and tax breaks for families looking to buy their first electric car."
In contrast to the sprawling, labyrinthine efforts to address the crisis passed in the Inflation Reduction Act and other bills in the past two years, and the light-touch maneuvering his administration undertakes at global climate summits, the version of climate action that Biden is presenting to the American people is mercifully simple: This matters to you. And I’m taking care of it.
Link to Source: https://www.insightsesg.com/post/biden-s-state-of-the-union-defines-climate-action-as-common-sense
3. Shell’s Board of Directors Sued Over ‘Flawed’ Climate Strategy in First-of-its-Kind Lawsuit-
Shell’s board of directors are being personally sued over their alleged failure to properly manage risks associated with the climate crisis.
Environmental law charity ClientEarth, which filed the lawsuit, says it is the first case in the world that looks to hold corporate directors personally responsible for failing to prepare for the energy transition.
The legal claim also has the backing of institutional investors and pension funds who together own over 12 million of Shell’s 7 billion shares. These investors include pension funds like Nest - the UK’s largest workplace pension scheme - and London CIV in the UK and Swedish national pension fund AP3.
Link to Source: https://www.insightsesg.com/post/what-biden-s-state-of-the-union-said-about-climate
4. IEA's Electricity Market Report 2023-
China will account for one-third of global power use in 2025, up from one-quarter in 2015, per the International Energy Agency's latest outlook.
The International Energy Agency’s Electricity Market Report 2023 offers a deep analysis of recent policies, trends and market developments. It also provides forecasts through 2025 for electricity demand, supply and CO2 emissions – with a detailed study of the evolving generation mix.
This year’s report contains a comprehensive analysis of developments in Europe, which faced a variety of energy crises in 2022. The Asia-Pacific region also receives special focus, with its fast-growing electricity demand and accelerating clean energy deployment.
Link to Source: https://www.insightsesg.com/post/iea-s-electricity-market-report-2023
5. Has The ESG Train Left The Station?-
Regardless of whether you are of the red or blue political stripe, public opinion, private capital, human capital, government capital and consumer interest are all trending towards “green” or “sustainable” products and investments in the long run.
I argue that regardless of your political orientation, the capital market, the product market, and the labor market have perhaps already decided that ESG investing is here to stay in the long run. Why? I posit seven reasons.
Link to Source: https://www.insightsesg.com/post/has-the-esg-train-left-the-station
One more thing: A 10-min video from The Economist "Climate-change migrants: what can be done?"
Find the video here: https://www.youtube.com/watch?v=A3AuCQml7IQ pexexxxxxxx
Do share your comments or the content you think our community should not miss!