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Nearly half the emissions potential from largest oil, gas and coal firms 'under the influence of 10 financial entities', including Fidelity, BlackRock and State Street.
Ecological destruction can drive downgrades, debt crises and soaring borrowing costs.
Verdict follows an investigation by law firm White & Case into claims of anti-Israel activities at ESG data and ratings subsidiary Sustainalytics. 
Federated Hermes, Invesco, Fidelity Investment and Wells Fargo listed as “sponsors” by US foundation, while JP Morgan and KKR are flagged as “friends of SFOF sponsors”.
Minister voices hope that the UK could be first country to mandate TNFD reporting; move to Canada confirmed for COP15.
The much-delayed conference may now take place in December 2022, reports suggest.
Israeli soldiers guarding a barrier, silhouetted against afternoon sun
Concern comes as Norwegian pension KLP calls on investors to evaluate – and in some cases divest from – companies linked to the region.
If proposals are approved next month, it could widen the gap for asset managers between regulatory expectations and client demand.
The standard is harmonised with other initiatives in the financial sector including the TNFD, the SBTN and EU Align project.
The firms are to be placed on the Restricted Financial Institution List in 45 days unless they provide information demonstrating they are not engaged in a boycott of energy companies.
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