This week, the Financial Times debates whether ‘Big Tobacco’ belongs in ESG funds. Some of the largest tobacco companies in the world have received ESG ratings higher than the likes of Tesla, but increasing legislative moves against the sector are deterring investors and fund managers.
New research from Bloomberg has shown that one of the most widely adopted carbon emissions metrics used by banks may be flawed. Pretty much every major bank and asset manager discloses financed emissions (those attributed to a financial institution when investing in another company or asset), but new research now shows that it might be a distraction rather than a solution to tackling climate change. Bloomberg covers the story.
In the UK, the High Court has deemed the UK government’s climate plans unlawful for a second time due to its overreliance on ‘risky technologies’ and lack of clarity on how it will meet net-zero emissions targets by 2050. edie covers the story.
