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"Lisa is Director of the Columbia Center on Sustainable Investment, and she delivers some much-needed reality checks on sustainable finance.

If you’ve been following Lisa’s sharp LinkedIn articles, you know she doesn’t pull punches. Lisa and I talk through her challenges for a rethink on how we approach sustainability planning and finance.

Hear Lisa talk about:

• How a positive impact vision of laws and governance could shape finance, investment flows and practices, and renew positive multilateralism.
• Why sustainability reporting has become a frustrating ‘end’, rather than a means, due in part to the risk focus of Mark Carney’s Tragedy of the Horizon’s speech 10 years ago.
• The challenge of bringing scientists, engineers and financiers together for co-ordinated planning for public goods.
• Why sustainable finance is like trying to pilot a broken plane through turbulence, and why it’s painful to watch failed radar for climate finance now being applied with gusto to biodiversity!"

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A common criticism of ESG ratings by providers such as Refinitiv, Bloomberg and MSCI is that they tend to disagree, leading to confusion among asset owners and investors. For instance, provider A may give Tesla a high ESG score but provider B may rate Tesla poorly if it doesn’t like the company’s governance approach.

This is a problem for fund managers with a mandate to maximise a fund’s sustainability impact: whose ratings should they trust?

A recent paper published by Rosella Giacometti, Gabriele Torri, Marco Bonomelli and Davide Lauria from Italy’s University of Bergamo explores a novel approach to score companies based on sustainable funds’ holdings data.

... read full blogpost on Substack ...

... go direct to research paper: Market-Implied Sustainability: Insights from Funds’ Portfolio Holdings

Following our Japan’s Ammonia Strategy report earlier this year, this deeper-dive analysis on coal plant profitability highlights the following insights:

• Japan’s coal-fired power generation is expected to become structurally unprofitable by the early 2030s, with operating margins falling into negative double digits as market revenues continue to decline.
• Grid expansion and large-scale battery deployment will be the primary forces reshaping electricity pricing and driving this transition.
• Ammonia co-firing subsidies are unlikely to restore profitability. Without further support, co-firing would likely risk either incurring losses or terminating capacity contracts with penalties.

The report explores the rise of Japan’s battery storage market, major grid expansion plans, evolving power trading dynamics, and projected electricity pricing impacts in eastern and western Japan.
It also compares the profitability of subsidised co-firing versus no co-firing, showing limited difference. Further, it examines the rationale for pursuing co-firing, its market scope, and the scale of subsidies required to sustain it.

As coal plants face persistent profitability challenges, Japan’s coal-to-ammonia transition appears to function primarily as a policy mechanism to manage transition risk rather than a long-term economic solution.

From volume to value: Read this Q3 summary update to learn how the 'flight to quality' is reshaping the carbon market and other key developments to follow.

Business assets see 22% jump in exposure to conflict

Understanding complex global conflict dynamics in today’s geopolitically fractured world is crucial for multinational companies, investors, and insurance firms. Our Asset Risk Exposure Analytics (AREA) data measures the exposure of over 4 million assets of publicly listed companies to political, human rights, climate and environmental risks, including conflict.

The overall exposure of corporate assets to conflict remains low, amounting to less than 1% of the assets of publicly listed firms. That said, the data shows that 36,045 assets are now located in conflict zones, up from 29,515 in 2021-Q1 – a 22% uplift in five years. This uptick in exposure to conflict is starker when you zoom in on certain sectors. For example, the extractive & mineral processing, technology & communications, and infrastructure sectors have all seen the number of assets located in conflict-affected areas increase by over 60% since 2021.

Beyond this trend of rising physical security risks linked to armed fighting, there are a myriad of indirect consequences that business leaders need to grapple with. Wars can disrupt global supply chains, lead to markets becoming inaccessible, elevate expropriation risks or trigger consumer boycotts targeted at corporate entities. The rise of grey zone warfare is also seeing companies themselves become targets of hostile states, for example via cyber-attacks, sabotage or disinformation campaigns, for the perceived transgressions of their host governments.

Event Details
09 December 2025

2 - 3pm GMT / 9 - 10am EST / 3 - 4pm CET

Many companies in the Food and Beverage sector have set ambitious net-zero targets, but key challenges remain:

Moving from targets and roadmaps to real implementation — turning plans into concrete projects that improve actual energy and carbon performance.

Making decarbonisation a source of business value — ensuring initiatives strengthen competitiveness, resilience, and economic performance.

Join SLR experts for an online briefing that will share practical advice and global case studies from leading companies that have successfully bridged the gap between strategy and execution. Learn how they are achieving CO₂ reductions, driving business value, and building long-term resilience across their value chains.

Drawing on proven project examples and the latest market insights, we’ll explore:

Innovative financing models that overcome CAPEX barriers and accelerate implementation.
Turning biowaste into strategic assets through circular energy solutions.

Bridging the gap between strategy and execution to actually deliver carbon reductions and capture the associated business value.This session is designed for sustainability leaders, operations and energy managers, finance and procurement professionals, with actionable insights applicable to anyone involved in delivering decarbonisation in the Food & Beverage sector.

"It began with high hopes and the promise of a new way of doing things, a Global Mutirão, but ended with a deal that failed to mention fossil fuels or deliver a promised deforestation roadmap. But with a strong presence by Indigenous peoples and the launch of a new mechanism to halt and reverse deforestation, there were still positive moves. Here are our essential takeaways from a COP in the Amazon."

The Sustainable Debt Global State of the Market Q3 2025 report is here. A comprehensive guide to the third quarter's key market updates, trends and issuances. Find out all the big numbers in the green, social, sustainability and sustainability-linked (GSS+) space here. 

Methane abatement is crucial to safeguarding climate goals and near-term meaningful climate action. Methane’s high global warming potential and short atmospheric lifespan make it uniquely positioned to deliver rapid climate benefits if addressed effectively. Achieving the 1.5°C temperature goal requires a 45% reduction in global methane emissions by 2030.

Despite this urgency, methane remains underrepresented in global climate discussions, climate policy frameworks, and financial flows. Methane must be treated as a distinct climate challenge, not merely bundled into CO₂-equivalent metrics, to ensure appropriate prioritisation in policy and finance. Specific policy is needed to make finance flow at scale to fund methane abatement.

While every country’s methane abatement policy approach will be different, there are commonalities that allow for peer learning to accelerate abatement efforts. This report identifies five archetypes of specific national sectors with policy lessons applicable for national sectors across the globe. The five archetypes are the coal sector in China, the agricultural sector in India and in Brazil, the waste sector in Indonesia, and the oil and gas (O&G) sector for any O&G exporter.

Behind-the-meter (BTM) energy systems, from onsite gas turbines to fuel cells and geothermal plants, could help provide the additional power demand from data centers, according to Goldman Sachs Research.
 
BTM systems are expected to provide a quarter to a third of the incremental electricity demand from data centers that’s anticipated through 2030.
 
Modular fuel cell systems can be deployed in less than a year, are 10-30% more efficient than gas turbines, and produce fewer emissions than some other energy systems.
 
Goldman Sachs Research estimates that 6-15% of incremental data center power demand could ultimately be provided through fuel cells.

Below are the key takeaways from the fourth publication in the ISS STOXX Research Institute’s series on critical minerals. To download a copy of the full report, please click here.

• Rare Earth Elements (REEs) are foundational to the global shift toward a low-carbon economy, playing a critical role in enabling clean energy technologies such as electric vehicles (EVs), wind turbines, solar panels, and advanced electronics.  

• Although REEs have proven to be essential to the energy transition, the value chain faces a variety of risks ranging from geopolitical risks to nature- and climate-related physical and transition risks. 

• ISS STOXX data shows that REE mining companies’ main sustainability considerations include nature-related risks connected to water use, land use, climate change, pollution, and biodiversity loss; and societal risks related to human rights violations such as forced and/or child labor and disregard for Indigenous and Local Communities. 

• Investors can use a blend of nature and social data, from companies’ sustainability performance to geographical designation of human rights risks, to inform their risk management strategies as they relate to REE companies.  

The world has entered a new era of industrial transformation — one defined by the global retooling of economies for a low-carbon future.

This isn’t a niche investment theme; it’s a reallocation of capital, resources, and innovation on a scale unseen since the mid-20th century industrial boom.  The opportunities are vast: cleaner power, efficient grids, low-carbon fuels, sustainable materials, and circular manufacturing systems.

Together, these sectors are projected to attract more than $150 trillion in cumulative investment by 2050. But beyond the numbers lies something more fundamental — a convergence of energy security, industrial strategy, and climate action ambition that’s defining the next decade of global growth.

The Paris Agreement set out to keep the global temperature rise well below 2°C by 2050, ideally 1.5°C, to reduce the most catastrophic consequences of climate change. To achieve this, it introduced the concept of net zero: balancing greenhouse gas emissions with removals [1]. This flexibility was designed to help countries and industries decarbonise while developing new technologies to remove emissions.  

Achieving net zero is difficult in a fragmented world. Particularly when countries’ own plans, or Nationally Determined Contributions (NDCs), vary widely in ambition, scope and timing, transitions can be challenging both economically and technologically. As a result, reaching net zero is proving more complex than could have been hoped under the Paris Agreement.

Infrastructure, once seen as an investment option reserved for institutional and private markets investors, is becoming a central theme in public portfolios. The broadening seems fitting, as infrastructure itself is central to everyday life ― from the utilities providing fuel to heat our homes, to the towers transmitting data for our mobile devices and the data centers powering the proliferation of AI.

Balfe Morrison, head of listed infrastructure strategies within BlackRock Fundamental Equities, recently joined The Bid podcast to explore the growing reach and relevance of infrastructure investments. The conversation was broad, but one area of particular interest: the intersection of infrastructure and AI.

Climate solutions are multifaceted, ranging from breakthrough technologies across sectors to energy and resilient infrastructure. In public and private markets, we believe both mitigation and adaptation solutions strategies are ever more compelling.

From larger public companies with the scale to tackle global challenges to growth-stage private firms driving the next generation of products and services, climate solution providers can create significant economic value through cost savings, efficiency gains, and enhanced durability — solving real-world problems.

Their “green” benefits are typically a bonus, not the primary fundamental investment driver. Digital innovation remains a key focus today — including software, data-driven platforms, and software-enabled hardware — but while the past 15 years have centered on digital transformation, we believe the next decade and beyond will be defined by physical transformation.

Technologies such as AI, robotics, and automation will increasingly be applied to real-world systems in energy, housing, and infrastructure to enhance efficiency, reliability, and resilience — the very attributes that climate solutions companies across public and private markets are designed to deliver. 

Sales taxes are a crucial revenue source for state and local governments, funding education, health care, public safety and infrastructure.

Forty-five states collect statewide sales taxes, with local sales taxes in 38 states. These taxes generate 30% of state tax revenues and 13% of local collections, making them the second-largest state revenue source after personal income taxes

A global view of how artificial intelligence is unlocking positive climate outcomes and accelerating the energy transition

"By 2030, AI will consume more electricity than Japan yet eliminate 3−5 billion tons of CO2 . That paradox represents humanity’s best climate opportunity.

Over the course of my career in the energy industry, I have witnessed many periods of transformation, yet none as pivotal as the current era. Today, artificial intelligence is fundamentally reshaping the way we operate and innovate.

In discussions with business leaders worldwide, a consistent theme emerges:

• AI is revolutionizing business processes, enabling energy executives to optimize operations beyond what was previously conceivable, driving technology leaders to reimagine business models, and empowering scientists to accelerate research at an unprecedented pace.

• $137 billion - More investment needed to hit the UN goal of tripling renewables by 2030 under the BNEF “extreme” tariff scenario
• 31% Share of China’s clean-tech exports to emerging economies in 2025 (through August)
• 8 Large emerging economies considering raising tariffs on clean-tech imports

The economics of the Half-Earth scenario

Nature underpins more than half of global GDP. Continued biodiversity loss could slash global GDP by -2.3% by 2030, relative to a baseline in which biodiversity remains at 2020 levels, with far deeper impacts on developing economies (-7% to -10%). Drivers include deforestation, pollution, intensive agriculture and climate change.

These risks flow through two channels:

• Physical risks, as ecosystem services like pollination and water regulation fail, and transition risks, as policy, market and consumer shifts raise compliance costs, strand assets and reshape competitiveness.
• Ecological decline is now a direct macro-financial threat.

ESG Global Study — Fifth edition (2025)

"This is the fifth edition of our ESG Global Study, which surveys investors’ views on the role of ESG in the investment process, drivers behind evolving approaches to ESG, and other ESG-related topics.

This year’s results show that, while global ESG adoption has edged lower from the record-high level in 2023 and 2024, numbers remain robust. The modest downshift reflects varying degrees of concern over policy, regulatory changes and economic uncertainty, among other risks.

ESG adoption stands at or above 90% in Europe, the Middle East and Africa (EMEA) and Asia-Pacific (APAC), and at 71% in North America. We also learn how investors are refining and developing their approach to ESG, which sustainable investment themes they view as most attractive and how views on ESG-related risks from the rapid development of artificial intelligence (AI) are evolving."

The COP30 summit in Brazil marked a key moment for countries to restate their climate commitments and announce new 2035 targets. Focussing on national climate plans, Carmen Nuzzo and Antonina Scheer at the TPI Global Climate Transition Centre (TPI Centre) at the London School of Economics and Political Science discuss the value of evidence-based ASCOR research in informing investor-sovereign engagement and showing how governments can drive investment in climate action.

Chronos Sustainability has produced a new guide for graduates and sustainability professionals looking to build their careers in sustainability consultancy.

The guide – which includes insights and case-studies from industry practitioners across the range of consultancy firm types and sizes – includes:

·       A description of what sustainability consulting is and what sustainability consultants do?

·       A discussion of what skills, qualifications and attributes are needed to succeed in sustainability consulting.

·       Hints on how to get started and on how to build a career in sustainability consulting

·       Reflections on the trends in sustainability consulting.

·       Suggestions on useful resources and further reading.

It also contains a series of practical self-assessment checklists covering topics such as

1.      Is sustainability consulting the right career for you (e.g. do you thrive on variety, are you comfortable managing tight deadlines and uncertainty)?

2.      What qualifications do you need (e.g. what level of qualification do you need, what are the preferred subject areas/disciplines, what professional certifications are valued by employers)?

3.      What skills and attributes do you need (e.g. can you communicate effectively with a range of audiences, can you assess and analyse data and generate practical insights)?

4.      How can you get started in sustainability consulting (e.g. how can you demonstrate your interest in sustainability, what skills and experience do you have, how can you develop the skills you need)?

The Chronos Sustainability Guide to Careers in Sustainability follows the publication last year of the Chronos Sustainable Finance Careers Guide – a collaboration with LSE to help young professionals find pathways into sustainable finance. 

Allocation & impact metrics for Equality Progress Sustainability (EPS) Bond 3 and Green Bond 6 (renewables, affordable housing, social inclusion, etc.). 

Detailed KPIs such as GHG emissions avoided, water savings and social metrics (affordable housing units, mortgages to first-time buyers, loans in qualifying communities).

Describes JPM’s approach to environmental, social and climate-related matters, aligning to GRI, SASB and TCFD frameworks.

Split between investment stewardship (engagements, proxy voting, ESG integration) and corporate sustainability (people, environment, community, governance).

Highlights include 38 ESG engagements with 30 investee companies, UN SDG framing, and a detailed proxy-voting appendix.

Stewardship approach across equities, fixed income, infra, real estate, agri, etc.

Engagement and proxy voting case studies, climate and sustainability themes across their various platforms.

Sets out governance of stewardship, RI resources and team, engagement and voting approach, conflicts of interest management, etc.

Explores engagement themes like the High Seas Treaty and ocean-related risks, AI’s power demand, and voting trends across Asia & EM.

Case-study-heavy engagement report with voting and engagement highlights

• NEI’s RI model, governance and implementation.
• Stewardship chapter: corporate dialogues, engagement themes and outcomes, proxy voting stats (1,005 AGMs voted; 450 shareholder proposals, etc.).
• Policy activity and collaborations (e.g. PRI, Climate Engagement Canada, OGMP 2.0)

Join Findlay Park CEO Rose Vangerven and Canbury’s Head of North America, Gregory Elders, for a briefing at Canbury Insights' London office on U.S. sustainable investing. The shifts underway are forcing changes that could reorient many investors' approach to stewardship and sustainable investing.

We will share insights on what U.K. investors need to know now about the U.S.:

• U.S. market dynamics
• Dismantling of sustainability-related policy and regulatory frameworks
• Shareholder engagement, and federal and state challenges to proxy voting
• California’s climate reporting rules
• Climate physical risks in the U.S.

LOCATION: Canbury Office, 7 Henrietta Street, London, WC2E 8PS

RSVP: This email address is being protected from spambots. You need JavaScript enabled to view it.

Investment targeting nature-related outcomes needs to scale significantly and swiftly in order to meet the targets set by the Global Biodiversity Framework.

Without significant action to mitigate and reverse nature loss, the Intergovernmental Panel on Biodiversity and Ecosystem Services (IPBES) estimate that we will continue to lose USD$10–25tn per year due to unaccounted-for costs of BAU economic activity. Individual companies will face increasing physical and transition risks as a result.

Key Takeaways

• Looking at corporate bond yields between 2016 and 2024 issued across 57 countries, we find no clear evidence that green bond issuance offers issuers a cheaper cost of capital than conventional bonds.
• We observed a green premium (greenium; a lower yield for green bonds) in 2016-2022 and only in Europe, where the difference was 28 basis points (bps), likely linked to local environmental policies, while green bond issuance has been associated with higher financing costs in North America since 2022 (+46 bps).
• At best, a green label accounts for a negligible share (0.04%) of bond pricing, whereas other factors, such as ratings, maturity dates, volume, currency, sector, and country of issuance explain more than 60% of bond yields.
• The greenium tends to be smaller for issuers of both green and conventional bonds than for issuers tapping only conventional bond markets, indicating that an issuer's characteristics and reputation have a greater influence on funding costs than the label of the issuance.

Asia’s food system is at a pivotal moment. As climate and nature risks intensify across the region, banks will play a defining role in enabling a shift toward more resilient, sustainable, and humane protein supply chains.

ARE’s latest report, Banking Asia’s Protein Transition: Financing the Shift Towards Responsible and Sustainable Food and Agriculture Systems, provides the first comparative assessment of how 24 major banks across Singapore, Malaysia, Thailand, Indonesia, the Philippines, and India are beginning to integrate responsible and sustainable food and agriculture considerations into their financing strategies.

The report identifies early signs of progress—from emerging commitments on deforestation, animal welfare, biodiversity, and plant-based proteins—to initial steps toward climate-aligned lending. Yet significant gaps remain across transparency, risk management, and responsible lending frameworks.

With food and agriculture deeply linked to climate, nature, health, and economic stability, the report outlines how banks can strengthen policies, support deforestation-free and humane production, and seize the transition and green finance opportunities ahead.

ESG sukuk issuance surged by 46% year on year to USD13.5 billion by end-9M25, marking a full-year record. Fitch Ratings expects ESG sukuk to retain a prominent role in emerging markets, with momentum likely to remain solid into 2026.

SMBC and Jefferies co-hosted a forum for senior executives from leading Japanese corporations and investment firms. The event built on Jefferies’ Sustainability and Transition team’s longstanding collaboration with Japanese leaders to unlock opportunities in the country’s climate investing and decarbonization journey.

SMBC and Jefferies explored how Japanese companies can best monetize the energy transition and Green Transformation (GX) Plan, a $1 trillion effort to reduce emissions over the next decade. The event’s themes — pragmatism, value creation, and collaboration — anchored discussion of best practices across Europe, the United States, and China.

Published: November 21, 2025 by Andrew Howell, CFA, Senior Director and Head of Research for Sustainable Finance, EDF and Ismael Hernandez Rivera, Senior Manager Sustainable Finance, EDF

Next week, the International Sustainability Standards Board (ISSB) closes its consultation on proposed amendments to several sector-specific disclosure standards (the “SASB standards”) including for coal operations, oil & gas, metals & mining, iron & steel, and processed foods. Among numerous proposed enhancements, one deserves to be called out: the improved treatment of methane disclosures.

Methane is responsible for roughly one-third of today’s global warming, yet many corporate climate disclosures still treat it as a footnote. We strongly support these enhancements and encourage investors and other stakeholders to share their insights into the importance of these proposed changes.

Caroline Li, Deputy Product Manager, sits down with Chen Chen, Head of China Healthcare, to explore the forces driving China’s Healthcare surge, regulatory dynamics and the investment opportunities shaping the sector’s future.

Market commentary - Scott Voss, Managing Director, Senior Market Strategist

"At the Paris AI Action Summit this past February, Dario Amodei, CEO of AI superpower Anthropic, offered a striking analogy: As early as 2026 or 2027, AI systems will be “akin to an entirely new state populated by highly intelligent people appearing on the global stage—a ‘country of geniuses in a datacenter’—with the profound economic, societal, and security implications that would bring.” 

If this is true, I wonder if this “AI nation” will have a seat at the table when and if we need to renegotiate sovereignty, trade, governance, or climate policy? And which large language model will inform its worldview?....."

"Our 2025 Annual Sustainable Investing Report describes in detail how we put this principle into practice, investing with responsibility and purpose in order to drive long-term value for our clients, partners, and the communities in which we operate."

The latest round of COP talks feels like a process that’s running on fumes. Attendance and engagement from the biggest emitters is patchy, the targets lack any real step-up in ambition, and the agenda on deforestation – arguably one of the fastest levers we have – is almost empty. For investors looking for a clear policy signal, there’s very little: no strong framework to anchor capital allocation, no new guardrails to change behaviour, and no sense that the process is catching up with the physical urgency of the problem. 

A fossil fuel phase-out agreement turned out to be elusive and while COP30 did deliver several investor-relevant outcomes - from TFFF and forest financing to grid investment and adaptation finance - the lack of a global road map on climate was a disappointment. 

Yet investors will largely carry on with their climate strategies anyway. The growth of climate funds, net zero commitments and transition plans is now driven much more by investors’ own assessment of climate risk – physical, transition and reputational – than by anything that comes out of COP or even by the Paris Agreement as a live reference point. In other words, capital is moving because climate risk is real, not because climate diplomacy is inspiring.

That leaves an uncomfortable disconnect: the COP machinery can keep turning out communiqués and communiqués can keep getting weaker or more qualified, while forests continue to be cleared and global emissions intensity remains stubbornly high. The multilateral process risks becoming a kind of annual climate theatre – important symbolically, but increasingly peripheral to the decisions that actually shape portfolios, business models and land use on the ground.

Key Highlights

• Near-Universal ESG Integration: ESG integration is used by 96% of respondents, covering 87% of AUM and reinforcing RI’s central role in Canadian investment practice.
• High Levels of Reporting Confidence: 69% of respondents express confidence in the overall quality of ESG reporting, while 91% are confident in their own organization’s reporting; calls for greater standardization and independent assurance remain strong.
• Climate Risk as a Leading Driver: Risks associated with a changing climate are now the top driver of RI growth, highlighting the financial materiality of climate considerations.
• Negative Media Narratives as a Barrier: 46% of respondents cite negative media coverage from other jurisdictions as the leading deterrent to RI growth, surpassing greenwashing as a top concern.
• Stewardship and Collaboration Remain Strong: 76% of respondents remain active in collaborative engagement initiatives.
• Steady Growth Expectations: 66% expect RI to continue growing, 31% expect RI levels to remain stable and almost none expect contraction.
• Commitment to RI: 75% say that RI remains a priority within their portfolio management processes, 24% say it is a higher priority

‘Policy Momentum and Public Sentiment ahead of COP30’ Is the US decline spilling over?

The ongoing reversal of US climate policy is driving a record global slowdown in climate action, but at least for now we do not see significant spillovers. Nevertheless, the slowdown is driving worsening sentiment

EXECUTIVE SUMMARY: THE DIVERGING GLOBAL POLICY LANDSCAPE JULY-SEPTEMBER 2025

• The global cancellation of hydrogen projects, represents a global re-evaluation of green hydrogen’s role and timeline in the energy transition for heavy industries. While economically advanced nations such as the EU and Germany are adopting more pragmatic hydrogen plans, the developments overall suggest that investments may pivot to other more mature, cost-effective technologies, such as electrification.
• Global climate policy momentum continues to significantly decelerate. But a closer look at policy trends in Q3 2025 and across 2025 more broadly reveal a stark divide between the United States and the rest of the world. While US policy is in reversal, there is no systematic reversal in climate policy momentum anywhere else. With a few limited exceptions, climate policy momentum outside of the US across 2025 largely tracks our expert forecast.
• While momentum is largely keeping pace with 2024 benchmarks, ‘policy sentiment’ – what we define as the narrative around policy actions and announcements – is clearly spilling over to other markets, raising questions for the broader outlook: Is sentiment a canary in the coal mine for decelerating policy momentum outside the US moving forward?
• Does it signal a broader shift from policy to technology drivers as policy becomes less important? Or does it suggest a more general break between the ‘signal’ and the ‘noise’ when it comes to climate policy actions?

The IAEA’s World Fusion Outlook aims to be the global reference for authoritative information and updates on fusion energy — a potentially unlimited, clean energy source, which can contribute to diversification of energy generation in the long term.

The IAEA has been promoting fusion energy research and development for almost 70 years, and it continues to strongly support research and development and future deployment by bringing the fusion community together to create solutions for both scientific and technological challenges.

This third issue of the publication presents a selection of recent achievements in fusion energy, outlines some of the dozens of fusion plant concepts currently at various stages of development worldwide, highlights global efforts in fusion energy development and discusses for the first time the global outlook for fusion energy deployment. As a special focus topic, this edition of the publication explores high temperature superconductors and their potential role in the commercialization of fusion energy.

The Climate Inequality Report 2025 reveals how wealth drives the climate crisis, and proposes new policy options to address it. It builds on the 2023 edition and two years of pioneering research conducted by the World Inequality Lab and universities worldwide.

KEY FINDINGS

• Wealthy individuals fuel the climate crisis through their investments, even more than their consumption and lifestyles. At the world level, the top 1% represent 15% of global consumption-based emissions, while they account for 41% of global emissions associated with private capital ownership.
• Climate change can deepen wealth inequality, while well-designed policies can help reduce it. The top 1% could see their share of world wealth jump from 38% to 46% by 2050 if they own tomorrow’s low-carbon assets....

In October 2023, the EU introduced its Carbon Border Adjustment Mechanism (CBAM). It requires EU companies that import high-carbon products like aluminium or cement from outside the EU to measure the emissions caused by these products abroad.

Similarly, non-EU countries that export to the EU have to document the emissions of their products. Starting in 2026, the EU will then charge these imports with the same carbon price as the EU emissions certificates that domestic producers have to buy. But how much will this CBAM add to costs in the EU?

The goal is to eliminate the arbitrage opportunity from shifting carbon-intensive production from the EU to a non-EU country where the producers have lower emissions standards and don’t have to pay for emissions.

The State of Climate Action 2025 provides the most comprehensive roadmap yet for closing the global gap in climate action to help keep the Paris Agreement goal within reach, as well as grades collective efforts to combat the climate crisis across key sectors. It finds that recent progress toward 1.5°C-aligned targets has largely failed to materialize at the required pace and scale and highlights where action must accelerate this decade to reduce greenhouse gas emissions, scale up carbon removal and increase climate finance.

An Energy Technology Perspectives Special Report

In modern history, few innovations have been more consequential than the car. Today, cars are central to the lives of millions of people around the world. The market for cars is one of the largest for a single product, and this product represents the single largest source of oil demand, a key trend that the International Energy Agency (IEA) has tracked closely for decades.

What’s more, car manufacturing is a pillar of the economy in many countries today, directly employing over 10 million people across the world – while supporting millions of additional jobs elsewhere in the supply chain, from steel and aluminium production to component manufacturing.

Yet as we look at the data, we can see that the car industry is undergoing major changes, which merit close attention for their implications for energy and economies. Three fundamental shifts are underway – in terms of the geography of car production, in terms of the regions that are driving sales growth, and in terms of the technologies being chosen by consumers. This is posing challenges for many internationally renowned carmakers, which have honed their craft over decades of manufacturing focused on internal combustion engine cars...

New on The CPR Hub from Third Side Strategies:

Our latest study tracks 2025 US corporate political contributions across the S&P 1500—including employee PACs, direct treasury spending, and executive giving.

When we compare 2025 activity to 20 years of historical data, we see anomalies with no precedent in the record. The analysis details those departures from history and considers what they may mean for companies whose political activity and governance frameworks were built for a more stable landscape.

Australia’s energy systems are undergoing a significant transformation, requiring an investment in essential energy infrastructure estimated to be worth over $140 billion by 2050.

This energy transition offers an opportunity for cooperation and mutual financial benefit for investors and First Nations groups.

First Nations people, communities and groups are increasingly looking to co-design, lead and partner or own renewable energy systems.

It is estimated that 43% of all clean energy infrastructure required to get Australia to net zero emissions by 2060 will be sited in regional and remote areas where First Nations groups and communities have rights, interests and aspirations.

Even outside these areas, First Nations groups are rights-holders and represent an integral stakeholder in Australia’s clean energy transition and have the potential to play a significant role in clean energy projects.

International case studies and interviews with project developers and First Nations groups in Australia who have partnered on projects indicate that in addition to creating fairer energy systems, there are quantitative benefits of increased First Nations participation and inclusion across the clean energy project life-cycle.

The five significant benefits identified by this research and consultation include:

1. Quicker project development cycle: First Nations support for clean energy projects can decrease the time taken for projects to progress through the development cycle. The development cycle is accelerated because of broader community support and prioritisation by council and planning authorities. Planning prioritisation can occur because the project has a broader community benefit and is aligned with government policy to support First Nations groups.

2. Greater access to, and potentially lower cost of, capital: Two reasons were identified for the lowering of capital costs. First, socially responsible projects, and projects that provide a demonstrable social benefit, attract broader pools of capital. Capital providers indicated that they would prioritise projects delivering broader benefit to First Nations groups over projects that simply met basic legal and planning requirements. Second, First Nations participation can result in a decreased risk profile due to the faster access to land and other components of the development cycle, resulting in greater likelihood of obtaining capital.

3. Access to, and preference amongst, offtake parties: The markets for offtake are highly competitive. Offtakers’ energy supply tenders often include First Nations involvement as a requirement or preference for clean energy projects from which energy will be purchased. Projects with greater levels of First Nations participation are more highly regarded by offtakers.

4. Secondary market premium valuation: As a result of the benefits identified above, clean energy projects with significant First Nations participation are of higher value in the secondary market.

5. Local workforce benefits: For projects in regional and remote locations, partnering with local First Nations groups provides the opportunity for a relationship with a local workforce. These projects have the ability to optimise construction, operation and management costs by employing a local workforce and engaging with local First Nations-owned businesses. In addition to reducing costs in the construction and operation stages, local employment elevates the profile of projects, increasing attractiveness and potential for support from government programs and schemes.

"The team you will be joining is a part of State Street Investment Management, one of the largest asset managers in the world. We partner with many of the world’s largest, most sophisticated investors and financial intermediaries to help them reach their goals through a rigorous, research-driven investment process. With over four decades of experience and trillions of dollars in assets under management, we offer one of the broadest selections of products and strategies across asset classes, risk profiles, regions and styles. As pioneers in index, ETF, and sustainable investing, we are always inventing new ways to invest."

This is an opportunity to work on Advance, the PRI collaborative stewardship initiative focused on human rights and social issues, with a specific remit to deliver the Apparel and Footwear Pilot Project. Join a global and motivated Stewardship team that works to deliver substantial real change in our global economy, society and the environment.

As a Senior Sustainability Manager, you'll play a crucial role in setting and coordinating AXA UK's sustainability strategy and helping us achieve our environmental and social goals. You'll provide expert advice on sustainability risks, opportunities, and regulatory requirements, working across various teams to deliver impactful projects and initiatives. Your insights will help us track progress, communicate our efforts, and stay ahead of emerging trends and regulations.

This role will provide technical, scientific, and analytical rigour to standards and frameworks analysis and support in aligning CDP’s disclosure framework with prioritized standards and frameworks. Central to this role will be supporting with development of standards and frameworks related processes and resources along with providing technical expertise to support standard setter engagement.

"As an ESG (Environmental Social & Governance) Regulatory Program/Project Manager within the International Private Bank, you will work with complex business scenarios, tight deadlines, and competing priorities, requiring interaction with all levels of our organization. In this role, you will promote strategic implementation and program governance, providing a unique opportunity to shape our ESG initiatives."

Joining us as a CFO Solutions ESG & Sustainability Manager, the minimum criteria you’ll need is a professional qualification (ACA, ICAS, CA, ACCA or CIPFA) with post qualification experience, and to be confident managing a large portfolio of clients. It would be great if you had some of the following skills, but don’t worry if you don’t tick every box, we’ll help you develop along the way...

This role is for an integrated practitioner across marketing and communications, with previous experience on sustainability and/or sustainable finance. The role holder will be working with a diverse set of stakeholders across our business to support the development of our sustainability communications and marketing strategy, helping us to build brand equity and assist in managing and mitigating risks. The role holder will work across channels to develop sustainability content which builds awareness of our sustainability capabilities and offering across our market footprint This role will help ensure connectivity across the Corporate Affairs, Brand & Marketing (CABM), Strategy & Talent (S&T), Chief Sustainability Officer (CSO) organisation, and Group Public & Regulatory Affairs (GPRA).

ISS-Corporate is hiring! In this role, you will harness your specialized knowledge and adept communication prowess to collaborate with our cutting-edge proprietary data and tools. Together, we will guide forward-thinking enterprises in navigating the intricacies of sustainability risk assessment and response. Moreover, you'll play a pivotal role in educating executive and board members about the evolving sustainability landscape.

This role is central to ensuring the timely, accurate, and consistent communication of M&G’s sustainability credentials to clients and stakeholders. The ESG Queries Manager will play a pivotal role in shaping the firm’s ESG narrative, enhancing operational efficiency, and delivering insights that inform broader sustainability and client engagement strategies.

The Head of ESG Communications is tasked with developing and executing a comprehensive communications strategy to bolster HSBC's reputation in Environmental, Social, and Governance (ESG) areas. This includes addressing climate and environmental commitments, advancing the bank’s social agenda, and upholding governance standards. The role involves leading a team of communications professionals to support HSBC’s transition to net zero, enhance social impact, and maintain high governance standards, while fostering necessary behavioural and cultural changes across the organisation.

Knight Frank is seeking a detail-oriented and proactive Corporate ESG Reporting Manager to support our growing ESG reporting function. The ideal candidate has a solid understanding of ESG frameworks, strong data and analytical skills, and the ability to engage with cross-functional stakeholders.

The purpose of this role is to support and deliver key responsible investment and stewardship functions within the Pensions Board, enabling the Board to maintain a position as a recognised leader in responsible investment. This role will be line managed by the Managing Director, Responsible Investment and will work alongside two other Responsible Investment Analysts within a Responsible Investment team of seven.

The UK Sustainability Disclosure Technical Advisory Committee (“the TAC”) is seeking new members. The TAC provides advice to the Secretary of State (SoS) for the Department for Business and Trade (DBT) for endorsing the International Sustainability Standards Board’s (ISSB) IFRS® Sustainability Disclosure Standards for use in the UK.

It also acts as a focal point for UK stakeholders to influence the work of the ISSB. TAC members play a crucial part in the development of sustainability disclosures in the UK, and internationally.

We are seeking a proactive and experienced Sustainability Risk Lead to oversee end-to-end sustainability risk management across our Asset Management business.

Part of a team responsible for reporting financial information under the “green” taxonomies from European and UK regulators

Senior Policy Analyst, UK/Europe

Principles for Responsible Investment

Employment Type Full time Please note, where PRI has an office there is an expectation to work a minimum of 2 days per week
Location Hybrid · London, City of, UK
Seniority Junior
Closing: 8:00pm, 23rd Nov 2025 GMT

Reporting to the Director of GREWE ESG & Workplace Sustainability the ESG Manager will be responsible for supporting company-wide sustainability ESG reporting and compliance initiatives. In this role you will partner with key stakeholders including teams within GREWE, corporate sustainability, controllership, internal & external audit, legal, risk, technology, and Amex senior leadership.  

As a Senior Associate supporting Global Citizenship & Sustainability Financial Reporting, you will play a key role in advancing Ralph Lauren’s Global Citizenship & Sustainability (GC&S) reporting strategy. You will assist in the implementation of GC&S reporting controls, support data validation efforts, and coordinate with internal and external stakeholders to ensure the completeness and accuracy of GC&S disclosures. You will also contribute to the continuous improvement of GC&S reporting processes and help drive readiness for evolving regulatory requirements, including CSRD. This role is ideal for a detail-oriented, collaborative professional with a passion for and strong foundation in sustainability reporting.

The Stewardship and Sustainable Investing (SSI) Operations and Marketing Analyst will support both the creation of high-quality SSI marketing materials and the operational backbone that enables the SSI Group to deliver for clients. Reporting to the SSI Operations Director, the role partners with Marketing to define SSI messaging and content strategy and drives execution.

The Analyst will partner with investment teams and sales to better understand client needs and improve external and internal communication. In parallel, the Analyst will collaborate with operating platform functions (Technology, Data, Client Reporting, RFP/DDQ, Business Enablement) to improve the effectiveness and scalability of key processes to enable better outcomes for clients.

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• Own data quality and translate business requirements into actionable specifications for new and existing Climate data and score products, collaborating with Product and Engineering teams to design and build new datasets.
• Define technical requirements, design scalable data models for new/existing raw or derived Climate data and analytics products, and ensure alignment with product strategy.
• Use Python to query, analyze, and automate workflows....

EY is looking for a senior manager to join our Sustainable Finance team within the Financial Services Risk Management (FSRM) practice, to help the banking and capital markets industry respond to the fast-developing and growing climate risk and sustainable finance agenda – including managing the risks and opportunities from an accelerating transition, responding to new regulation, adapting products and services, and improving transparency and disclosures.

The ESG Underwriting Analyst will play a key role in embedding environmental, social and governance (ESG) considerations into the underwriting process MRS-GM. This role supports our commitment to sustainable and responsible underwriting, aligning with both Group-wide ESG policies and Lloyd’s market requirements. The analyst forms an integral part of the support framework with underwriting teams, Group and GSI functions, and other stakeholders, ensuring ESG considerations are integrated into business decision-making, reporting and governance frameworks.

Senior Associate, Guidance, Private Markets (2 Year Fixed Term Contract) - Principles for Responsible Investment - Applied

Specialist, Stewardship CA100+ (10 Month Fixed Term Contract) - Principles for Responsible Investment - Applied

Office Coordinator (Part- Time - 3 days per week) - Principles for Responsible Investment - Applied

Associate, Events & Sponsorship - Principles for Responsible Investment - Applied

The M&G plc Life Investment Office (LIO) is responsible for the management of M&G Life’s With-Profits, Annuity and Unit-Linked funds, with more than £150bn of funds under management.  LIO works closely with the various asset management businesses within the M&G plc Group, and other external managers, to structure multi-asset portfolios aligned with the investment objectives of our clients. The ESG & Regulatory team devises ESG policy and investment strategy at the asset owner level, and drives these into portfolio allocations, benchmarks and positions. This ESG Analyst role has a social focus, and would be responsible for supporting the ESG Manager with a similar social focus.

We’ll Count on You To:

Understand and apply Sustainable Fitch’s analytical methodologies and become familiar with the company’s approach to assessing the sustainability impact associated with a broad range of business activities.
Carry out and deliver high-quality, timely, focused written analysis on a suite of products related to the sustainability characteristics and performance of entities and debt issuances. Output should be supported by well-construed arguments, backed by verified factual data.
Keep up to date with sustainability trends globally, both regulatory and sector specific.
Interact with colleagues globally to leverage knowledge, gain international experience and establish good working relationships.

The Global Head of Resilience is responsible for driving forward the resilience programme with a goal to align investor and government finance with the objectives of the Paris Agreement, building in resilience to climate impacts.

We are looking to hire a Product Manager to support ongoing product management and the development of new enhancements and solutions for our Governance Research product line. The position reports to the Governance Research product lead.

What you'll do

Develop and maintain positive relations with members of client group, investment teams as well as other supporting stakeholders such as marketing, compliance, legal etc.
Write, update and maintain sustainable investment language and data in the firmwide RFP database.
Manage and support sustainable investment reporting (e.g. quarterly SI reports, firmwide PRI submission)
Support the team in delivering insights on strategy (e.g. peer analysis, client insights, integration insights)
Support management of regulatory processes within the team
Support team with inbox, intranet and internal system management.

This position plays a pivotal role in managing and enhancing the penetration of our Energy Transition, Sustainability and Services (ETSS) offerings into the financial segment in Europe, reporting to the Head of Europe Financial Institutions (FI) segment.

The focus is on identifying the persona-specific pain points and needs of clients; understanding how the S&P products meet these needs in order to deliver high-quality energy transition & sustainability solutions to FI clients; coordination and collaboration across teams to drive market penetration strategies that enhance the value and appeal of our Energy Transition products to FI clients.

With ever increasing coverage and demand for timely Sustainable Finance data, we are looking for a market savvy and results-oriented individual to drive the effective utilization of external resources, such as vendors, to manage our day-to-day operation and data collection resources, both internal and outsourced and coordinating multiple data projects with different priorities, with the goal of delivering new Sustainable Finance datasets and improving the quality / timely delivery of the existing data sets to ultimately drive client value. 

This role will focus primarily on the development of our thematic frameworks and proprietary models.  The successful candidate will work with colleagues and investors to understand investment needs and guiding our research agenda.   

Brookfield Asset Management is seeking a dynamic and strategic Senior Manager of Sustainability to join the Renewable Power and Transition team to support our Global Transition Fund Strategy dedicated to accelerating the global shift to a net-zero economy.

EdenTree Investment Management, part of Benefact Group, is looking for a Sustainable Investment Analyst (Climate) to join our London office. This is an exciting opportunity to join the UK’s leading sustainable asset manager and play an integral role in the execution of its sustainable investment strategy.

We are seeking a Sustainability Regulation, Legal and Risk Manager to support the successful delivery of our sustainability strategy—an essential differentiator for Aviva Investors. This role is pivotal in ensuring a robust and coordinated approach to regulatory, legal, and risk matters within the Sustainable Investing function, helping the business maintain risk within tolerance. 

You will be responsible for the integration and ongoing risk management of ESG within the ORM frameworks, including the associated policies, policy adherence, metrics, reporting and minimum control standards.

Full details on LinkedIn, link to post below

The People and Culture Manager plays a pivotal role in delivering the Club’s people strategy. This role provides expert HR advice and coaching to leaders and employees and supports the development of a high-performance and values-led culture.

You will provide expert HR advice and coaching, with a particular focus on employee relations matters, ensuring legal compliance and best practice.

Job Identification 210669069
Job Category Business Management
Business Unit Commercial & Investment Bank
Posting Date 22/09/2025, 10:53
Locations 25 Bank Street, Canary Wharf, London, Greater London, E14 5JP, GB
Job Schedule Full time

Director, Sustainability Reporting

  Job ID: 40635
  Location: London, GB
  Area of interest: Audit, Accounting & Finance
  Job type: Regular Employee
  Work style: Hybrid Working
  Opening date: 25 Sept 2025

We’re seeking a future team member for the role of Vice President, Sustainability and Corporate Functions to join our Internal Audit team. This role is located in London.

Full-time
 
Permanent or Fixed Term Contract: Permanent
L&G Business Unit: Legal & General Investment Management
L&G sub Business Unit: LGIM
Primary Location: London, One Coleman Street
Job Family: Corporate Governance

Full-time
 
Permanent or Fixed Term Contract: Fixed Term Contract
L&G Business Unit: Legal & General Investment Management
L&G sub Business Unit: LGIM
Primary Location: London, One Coleman Street
Job Family: Product

The Saints go Marching On....As the Impact & Evaluation Manager at Saints Foundation, you will lead the evaluation of all charitable projects, using data to drive learning, improvement, and positive outcomes for people affected by inequality. You’ll deliver the charity’s Impact Strategy, ensuring teams and stakeholders can make evidence-based decisions. Central to your role is co-production—working closely with communities, partners, and participants to shape and improve our work. As the in-house evaluation expert, you’ll make findings clear and actionable, empowering the team to create meaningful, lasting change.

Sustainability and Climate Sales (Tokyo)

Sustainability Research Lead - Australia & New Zealand (Sydney)

Sustainable Investment Data Scientist

Sustainable Investment Data Analyst FTC-15 MONTHS

ISS STOXX is looking for a Sustainability Sales Specialist to support our sales efforts across the French territories for our market leading suite of Responsible Investment Solutions including, Climate Data, Ratings & Rankings, Controversies, Impact & SDG’s and Regulatory Solutions. To succeed in this role, you will need to have a genuine interest in the area of Sustainable and Responsible investments, including all aspects of Environmental, Social and Governance (ESG) research and topics along with a financial background and demonstrated sales experience.

Index methodology; ESG index design

Data/analytics; Reporting; ESG benchmarking