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Environmentalists Criticize Australian Bank's Climate Statement
August 23, 2017
The Guardian reports that environmental activists have criticized Commonwealth Bank, the largest bank in Australia, for failing to include in its recent climate statement, committing to the 2015 Paris deal on global warming, sufficient specificity on how it will divest from fossil fuel assets and work toward achieving the agreement's objectives.
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Dutch Board Censures Companies over Energy Ad
August 23, 2017
The Dutch Advertising Code Authority has ruled that fossil fuel giants Shell and Exxon misled the public by claiming in advertisements that natural gas was the “cleanest fossil fuel,” based on the Board’s conclusion that natural gas causes damage to the environment.
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Vanguard Pushes for Corporate Climate Reporting
August 23, 2017
Reuters reports that, as part of a broader move within the financial industry toward public disclosure of environmental and social impacts, Vanguard, a US fund company managing $4 trillion in investments, is pushing companies in which it invests to publish climate change risk assessments.
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GRI Forum Considers Corporate Reporting Complexity
August 22, 2017
The Global Reporting Initiative (GRI) and the World Federation of Exchanges recently engaged at a forum in London with businesses, investors, and stock exchanges regarding concerns over the complexity of overlapping environmental, social, and governmental reporting standards and over the relevance to investors of current corporate reporting on these issues.
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Paper Considers Nordic Carbon Price Floor
August 22, 2017
EUobserver reports that a "strategic review" from the Nordic Council, a forum for policymakers in the Nordic region of Europe, contemplates setting a cross-border, regional minimum tax on companies' greenhouse gas emissions to encourage a shift in investment toward renewable energy in line with the UN's Paris climate agreement.
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