The Australasian Centre for Corporate Responsibility (ACCR) has expanded its “greenwashing” lawsuit against Santos, following “additional information” produced by the oil major in the litigation discovery process. “We allege that Santos misled investors and the public about its plan to achieve ‘net zero’ by 2040 and to produce ‘zero-emissions’ blue hydrogen, said Brynn O’Brien, executive director of the Aussie NGO. “The documents produced by Santos have heightened our concerns that these plans lacked sufficient detail to be put into the market.”
The Japanese FSA has published a report by Jakob Thomä
, the outgoing CEO of 2° Investing Initiative (2DII) Germany, to assess the climate transition risk for domestic banks under a delayed transition scenario. The analysis applied the PACTA climate scenario analysis methodology, previously developed by 2DII, to assess the climate alignment of various economic sectors. It found that coal mining, upstream oil and gas, and segments of the automotive and power generation sectors were most at risk of deteriorating profitability. The results show the importance of not delaying measures to reduce financial institution exposure to at-risk sectors and helping clients transition, said Thomä. Only in gas-fired power generation and hybrid vehicle manufacturing were loan books aligned with climate scenario targets.
US sustainable investment body USSIF
has launched a new webpage
outlining why sustainable investing is “needed and here to stay”. Esgtruths.com
comes as politically motivated attacks on the sector increase in the US.