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Climate risk or opportunity for insurance sector

ROSE MARY PETRASS  |  THURSDAY, 5 OCT 2023  |  NEWS
Insurance leaders have reframed the challenge of climate risk as an opportunity, stating that physical risk from climate change is not the biggest challenge to insurance. Finity Consulting principal Rade Musulin and Swiss Reinsurance head of property ...

UniSuper, pension funds buy forestry fund

RACHEL ALEMBAKIS  |  THURSDAY, 5 OCT 2023  |  NEWS
... said UniSuper head of private markets Sandra Lee. "Not only is forestry a portfolio diversifier, but it also supports the global transition towards decarbonisation through carbon storage as well as substitution to sustainable timber material. We look ...

Australian companies lagging on climate action

RACHEL ALEMBAKIS  |  WEDNESDAY, 4 OCT 2023  |  NEWS
... top carbon-emitting companies are still failing to align their decarbonisation targets with the end goal of containing global warming at 1.5° by 2050, according to the latest assessment by Climate Action 100+. Emissions at the 14 Australian companies ...

Climate fund assets reach half a trillion dollars

ROSE MARY PETRASS  |  TUESDAY, 3 OCT 2023  |  NEWS
... less than 200 in 2018. Europe was identified as the largest and most diverse climate fund market, accounting for 84% of global assets. This is attributed to higher investor interest and regulation. China and the US rank second and third, with 8% and ...

ZEN Energy recruits new senior exec

RACHEL ALEMBAKIS  |  TUESDAY, 3 OCT 2023  |  NEWS
... exposure and market risk, and building new funds and businesses including renewable energy development platforms with a global remit, ZEN Noted. She has capital market experience in M&A, investing, debt and equity raising, as well as institutional-level ...

Nature credits a potential bonanza for Australia

RACHEL ALEMBAKIS  |  THURSDAY, 28 SEP 2023  |  NEWS
... market-based solutions." The paper notes that there are biodiversity offset markets in NSW, Victoria and Queensland and some global jurisdictions as well, but there needs to be improved levels of funding, policy development and corporate cooperation ...

Exiting emissions-intensive assets may not reduce climate risk

ROSE MARY PETRASS  |  THURSDAY, 28 SEP 2023  |  NEWS
... can afford the costs of a just transition and asset decommissioning and rehabilitation. Fiona Reynolds, chair of the UN Global Compact Network Australia, said the fact that the majority of companies will fail to achieve net zero goals if they don't double ...

KPMG and Microsoft pair to upskill ESG

ROSE MARY PETRASS  |  WEDNESDAY, 27 SEP 2023  |  NEWS
KPMG has partnered with Microsoft to release a new educational platform to upskill the global workforce to meet demand for better environmental, social and corporate governance (ESG). The ESG Academy will be available for Australian business leaders ...

US regulator slaps US$25m penalty on DWS for greenwashing, AML

RACHEL ALEMBAKIS  |  TUESDAY, 26 SEP 2023  |  NEWS
... investments, "however, from August 2018 until late 2021, DIMA failed to adequately implement certain provisions of its global ESG integration policy as it had led clients and investors to believe it would. The order finds that DIMA also failed to adopt ...

HESTA releases 2023 AGM hit list

ROSE MARY PETRASS  |  MONDAY, 25 SEP 2023  |  NEWS
... accountability regarding the quality of jobs they offer. Biodiversity is also identified as a point of engagement. Acknowledging the global challenge of rapid natural resource depletion, HESTA has urged portfolio companies to assess the impacts and dependencies ...