All articles by virginia furness
virginia furness
Banks sharpen focus on financial education
With reporting on climate goals well under way, lenders are starting to develop targets for the social pillar of their ESG strategies. Financial inclusion and, increasingly, financial health are focus areas.
Decommissioning: The dark heart of renewable energy finance
Billions of dollars are pouring into the clean energy that is seen as crucial for the transition to net-zero emissions. But the financial sector is not taking sufficient account of what happens to such assets when they reach the end of their life. It may soon have to.
Will banks help or harm the carbon offset market?
Banks say they can help build scale in voluntary carbon markets, by providing services from market-making to deal origination and stewardship. But some say it is too early for such intervention, arguing that profits still need to go into developing technologies.
How ING aligned 45% of its lending book to net zero
Banks globally are grappling with the challenge of decarbonising their lending portfolios. Dutch lender ING has devised sector pathways for the nine most emissions-heavy sectors in its loan book – here’s how it did so.
Banks flag greenwashing worries over sustainability-linked debt
With investors pushing back on what they see as weak or immaterial claims by issuers of sustainability-linked debt, banks are now citing similar concerns – though they are still arranging deals seen as questionable.
Cop26: Bankers respond to doubts over net-zero commitments
Banks account for around half of the $130trn in private capital Mark Carney said at the Cop26 summit was aligned with net zero, but there is widespread scepticism about the announcement. Senior executives from some of the biggest lenders give Capital Monitor their take.
Why La Banque Postale leads banking world on climate action
The lender is the first globally to release a comprehensive sustainability strategy to exit fossil fuels and the first in Europe to have its climate goals validated by the Science-Based Targets initiative. We speak to its CEO about why he believes such moves make good business sense.
Nomura plots net-zero path, but what will be its impact?
Last month the Japanese bank joined the growing list of its peers pledging to hit net zero by 2050. But how will it achieve that and what will it mean in terms of impact, given the firm derives most of its revenues from wholesale banking and has little exposure to high-carbon sectors?
Banks and regulators face off over climate stress tests
Pressure is growing for prudential measures to help tackle the climate crisis, with banks facing a rise in estimated credit losses of up to 20% in a ‘hot-house’ scenario. But bankers say climate-related stress tests should not lead to more capital requirements, and some propose alternatives.
How Egypt is building a sustainable finance market
CIB is leading the charge among Egypt’s banks to build a sustainable finance market, with help from the International Finance Corporation and at the behest of the central bank. Corporates are showing rising interest in issuing green bonds but will face ESG reporting from next year.