Asset owners

(a full-year engagement log/summary for Jan 1–Dec 31, 2025; nb document code indicates Jan 2026 publication)

(published 19 Feb 2026, covers the 12 months ended Dec 31, 2025)

filed/published 2026) - PDF via SEC archives (company annual report package covering 2025)

published Feb 27, 2026

(covers FY2025; published 2026)

Sustainability Highlight Report 2025

Focal points

•   The EPA's revocation of the 2009 Endangerment Finding removes the legal basis for regulating greenhouse gases under the Clean Air Act, potentially allowing the agency to rescind existing limits on corporate emissions.

•   Eliminating Biden-era vehicle pollution standards for 2027–2032 could forfeit 7 billion tonnes of avoided carbon emissions, $13bn in annual public health benefits, and $62bn in reduced annual fuel and maintenance costs.

•   Trillium expects the gap between corporate climate leaders and laggards to widen in the absence of coherent regulation; leaders reducing emissions voluntarily may also reduce future environmental liabilities and litigation risk.

•   Trillium will use its investor position to advocate for corporate climate action informed by science — including bold GHG reduction targets, transition plans and external disclosure of progress.

Global sustainable bond issuance is set to level off at $800 billion–$900 billion in 2026, signalling a shift from rapid growth to market consolidation.

Focal points

•   Global sustainable bond issuance is forecast to stabilize at $800–$900bn in 2026, marking a transition from rapid expansion to measured growth as issuers face rising debt maturities, shifting policy priorities and a more competitive capital market.

•   Europe, the world's largest sustainable bond market, is set to stabilize; US labeled issuance has slowed as some issuers prefer conventional bonds to avoid additional reporting requirements; Asia-Pacific maturities create refinancing opportunities.

•   Latin America is poised for modest growth driven by renewable energy and climate adaptation funding needs; Middle East issuance remains resilient, underpinned by renewable energy, hydrogen and sustainable infrastructure investment.

•   S&P Global Ratings expects the market to shift focus from volume growth to credibility, transparency and measurable outcomes — signalling a structural maturation of the sustainable bond market.

Contents

... includes ...

•   Europe

•   United States

•   Asia-Pacific

•   Latin America

•   Middle East

Focal points

•   Syngenta targets a 38% reduction in Scope 1 and 2 emissions by 2030 (2022 baseline) but has no group-wide Scope 3 target; the current trajectory would not achieve this target, and Scope 3 is the bulk of total emissions.

•   Climate targets are included in Syngenta's management compensation from 2024, though the KPIs used and the level of compensation tied to them are not disclosed; investment detail on addressing Scope 3 value chain emissions is absent.

•   Syngenta acknowledges climate change as a material risk but provides limited detail on specific risks, opportunities or the financial response to them; the climate risk and opportunity assessment is assessed as limited.

•   Planet Tracker assesses Syngenta as most aligned with a +2.0°C pathway by 2030; investors are urged to press for Scope 3 targets and detailed decarbonisation delivery plans.

Focal points

•   Nutrien does not report Scope 3 emissions and has no Scope 3 reduction target; its 30% emission intensity reduction target for Scope 1 and 2 by 2030 is acknowledged by the company to be currently off track.

•   Nutrien's engagement with its value chain and customers on climate is assessed as early-stage; there is no link between sustainability performance and executive compensation.

•   Nutrien's climate risk assessment includes regular scenario analysis but does not provide investors with quantitative detail on the potential financial impact of climate-related risks.

•   Planet Tracker assesses Nutrien as most aligned with a +2.0°C pathway by 2030; investors are urged to demand detailed decarbonisation strategy, cost and timeline disclosure, and sustainability-linked executive pay.

Focal points

•   Northern Trust Asset Management identifies three key sustainable investing themes for 2026: navigating climate resilience amid increasing volatility, addressing natural resource constraints, and adapting to shifting global security dynamics.

•   Sustainability risks and opportunities are identified as increasingly defining market dynamics; a heightened focus on security — transcending traditional boundaries — is framed as a cross-cutting influence on the sustainable investing landscape.

•   The report offers insights into how different aspects of the global security landscape may influence portfolios, connecting geopolitical security dynamics to sustainable investment decision-making and portfolio construction.

Decarbonisation earnings resilience and economics-led adoption are reshaping global investment opportunities

Focal points

•   High-quality energy transition enablers have continued to deliver above-market earnings despite weakened sentiment; Ninety One expects markets to re-rate in favour of clean-tech as fundamentals reassert themselves.

•   The energy transition is accelerating in emerging markets driven by economics rather than policy; China's cost leadership in solar, wind, batteries and EVs is reshaping global competitive dynamics.

•   Developed markets are experiencing a sharp inflection in electricity demand after decades of stagnation, making utilities, grid operators and efficiency specialists key investment themes.

•   Advances in electrification and efficiency are broadening the decarbonisation opportunity set; portfolio positioning balances defensive exposure with structural growth themes heading into 2026.

Contents

... includes ...

•   An accelerating transition with new growth engines

•   Developed markets face rising power demand and efficiency needs

•   Technology expands the investable opportunity set

•   Positioning for the next phase of the transition

Quarterly highlight: Navigating mega-forces

Focal points

•   Three structural mega-forces — geopolitical fragmentation, the energy transition and rapid technological disruption — are increasingly interconnected, now shaping long-term investment outcomes.

•   Their convergence creates structural bottlenecks in critical minerals, grid capacity and supply chains, widens the gap between climate ambition and implementation, and accelerates physical climate hazards.

•   DWS identifies four structural investment themes: the energy transition value chain, corporate transition readiness, nature-related risks and impacts, and climate adaptation and resilience.

•   Nature and climate risks are being reframed as national security and financial stability issues; AI is altering competitive dynamics and electricity demand globally, requiring investors to move beyond siloed sustainability analysis.

Contents

... includes ...

•   Energy transition value chain

•   Corporate transition readiness

•   Nature-related risks and impacts

•   Climate adaptation and resilience

Focal points

•   Stellantis announced a $24bn loss in H2 2025 from EV investment write-downs; shares fell ~80% from their 2024 peak and no dividend was declared.

•   Global EV penetration reached ~25% of new car sales in 2025, projected at 35–45% by 2030, directly contradicting incumbents' 'transition too slow' narrative.

•   BYD grew from ~0.7m vehicles in 2021 to ~5m in 2025 (~50% CAGR), rivalling Western incumbents via vertical battery integration and cost advantages legacy carmakers cannot replicate.

•   Stellantis' write-down signals a widening structural cost gap with vertically integrated Chinese EV players; the core investor question is whether the gap can be closed without further capital destruction.

Focal points

•   US electricity demand grew 1.5% annually 2020–2024; forecasts project up to 25% growth by 2030, pushing consumption near 5,000 TWh — equivalent to adding California, Texas and Florida's combined usage.

•   Data centre power consumption is estimated at 300–1,000 TWh by 2030 (~650 TWh midpoint), representing over 50% of forecast demand growth; non-AI electrification (EVs, reshoring, LNG) adds further.

•   Utility sector capex doubled to $208bn in 2025, projected at $248bn in 2029; affordability risk is highest in states with competitive power markets where bills have more than doubled since 2020.

•   PJM capacity auction revenue rose from $2.2bn for delivery year 2024–25 to $16.4bn for 2027–28; Breckinridge expects credit ratings maintained via rate increases, equity issuance and asset sales.

Contents

... includes ...

•   U.S. Power Demand Is Back on an Upward Trajectory

•   How Much Demand Relates to AI?

•   As Utilities Increase Capital Spending and Electricity Consumption Accelerates, Affordability Risk Emerges

•   Spotlight on Power Generation Technologies

Focal points

•   California's FAIR Plan filed for a 35.8% rate increase from April 2026; major insurers including State Farm, Allstate and Farmers have already limited or exited the California homeowner market.

•   Breckinridge concludes default risk for rated investment-grade California municipal bonds remains remote, citing the state's large and diversified tax base, Proposition 13 protections and recent legislative reforms.

•   No rated California municipal bond has defaulted due to a natural disaster; Moody's confirms Paradise's rated CSCDA bond was serviced through insurance and state backfill following the 2018 Camp Fire.

•   Breckinridge monitors all California issuers via third-party wildfire risk data, assigning internal lower ratings to outliers and avoiding smaller issuers with concentrated wildfire exposure.

Tracking Market & Policy Trends

Focal points

•   US electricity demand rose considerably in 2025 for the first time in decades, coinciding with rising electricity prices, marking a structural shift after years of flat demand growth.

•   Far-reaching and unpredictable policy changes in 2025 provided both major challenges and some unanticipated opportunities for sustainable energy developers, creating significant sector uncertainty.

•   Sustainable energy technologies met rising demand growth despite policy headwinds; BloombergNEF tracks year-on-year progress across efficiency, renewables, storage, hydrogen, EVs and more.

•   The US is described as on the cusp of a new era of energy expansion, with clean technology adoption driven by rising demand from data centres, manufacturing and broad electrification.

Contents

... includes ...

•   Energy efficiency

•   Natural gas

•   Renewable energy

•   Sustainable infrastructure

•   Energy storage

•   Hydrogen

•   Renewable natural gas

•   Electric vehicles

•   Digitalization

•   Industrial emissions

•   Carbon capture and storage

We're pushing QBE to be a stronger, more resilient and future-focused business.

Focal points

•   Approximately 48% of QBE's underwriting portfolio is in property and agriculture, potentially exposing a significant portion to direct physical climate risks including floods, storms and bushfires.

•   QBE's climate policy permits continued underwriting of new oil and gas projects until at least 2029, falling behind peers including Allianz, AXA, Munich Re, Swiss Re and Zurich.

•   Australian Ethical is seeking at least 100 shareholders to co-lodge a resolution at QBE's May 2026 AGM, calling for disclosure of physical risk exposures and stronger fossil fuel underwriting restrictions.

•   In H1 2025, extreme weather caused A$1.8 billion in insured losses in Australia; the Climate Council estimates 1 in 23 homes already face high physical climate risk, with pressures set to grow.

Contents

... includes ...

•   Why it's important

•   Almost half of QBE's business is exposed to physical climate risk

•   QBE continues to underwrite new fossil fuel projects

•   What Australian Ethical is asking QBE to do

•   Why this approach could protect members' long-term returns

Focal points

•   A2A SpA has issued ESG-labelled debt in three structures since 2019 — green bonds, EU Green Bonds (EuGBs) and Sustainability-Linked Bonds — creating a rare cross-label pricing comparison set.

•   Despite stronger regulatory pedigree under ESMA fund naming guidelines, A2A's EuGBs trade on or above the yield curve versus conventional bonds — a counterintuitive result questioning whether regulatory status translates to market pricing.

•   A2A's two outstanding SLBs have largely concluded their sustainability story: one has missed its KPI target, diminishing the financial incentive for continued sustainability progress.

•   The analysis raises questions about whether fixed income markets correctly price the regulatory distinction between bond types, with implications for investor allocation and portfolio strategy.

Strength in the US economy, shifting geopolitical currents, and diverging monetary policy moves characterise the investment landscape in 2026.

Focal points

•   Aberdeen forecasts US GDP growth of 2.2% in 2026, above consensus, with job creation stabilising rather than accelerating and two further Fed rate cuts projected later in the year.

•   The "Donroe Doctrine" signals a more assertive US posture across its western hemisphere, creating geopolitical risk including around Mexico's USMCA review and Brazil's October 2026 election.

•   AI-linked equities are approaching valuations resembling earlier bubble markers; Aberdeen views AI as a US growth driver via investment and wealth effects but flags bubble risk as a key scenario.

•   China's near-zero inflation enters its third year; Japan begins 2026 under its first female prime minister with gradual BoJ rate hikes expected, highlighting macro divergence in Asia-Pacific.

Contents

... includes ...

•   US growth and jobs

•   Fed leadership

•   The "Donroe Doctrine"

•   Election year 2026

•   AI exuberance

•   China's low inflation challenge

•   Emerging markets ex-China

•   Japan's political reset

Per- and polyfluoroalkyl substances (PFAS) have moved from being a niche environmental concern to a significant real-world liability as their effects on human health, and associated legal and financial impacts, come into sharper focus. Due to their persistent nature of PFAS and increasing evidence of health hazards, PFAS have the potential to follow the pattern of tobacco and asbestos, where legal liabilities impacted companies for decades.

PFAS litigation is already creating multibillion-dollar liabilities that are materially relevant to many companies’ earnings and valuations, with exposures likely to grow as regulation tightens. A small group of upstream producers and concentrated hotspots drive a disproportionate share of PFAS legal and remediation risk, while downstream users can still face significant local liabilities and reputational damage despite not manufacturing PFAS themselves.

This report helps investors locate PFAS exposure in their portfolios and understand why it can materially affect cash flows, valuations and credit risk.

Using our new PFAS litigation risk dashboard, which scores 1079 publicly listed companies and 5248 associated facilities, investors and companies can estimate facility-level exposure associated with PFAS, take practical steps to reduce PFAS-related risk and begin shifting away from business models dependent on ‘forever chemicals’.

Key findings:

• PFAS-related litigation has expanded rapidly in both scope and scale, with rising settlement values and a tightening regulatory environment in key markets such as the United States and Europe.
• PFAS litigation has become one of the largest environmental mass tort litigations in American history, with more than 15,000 active lawsuits grouped together in federal court as of January 2026.
• For investors, the growing wave of PFAS-related settlements and legal costs could translate into material impacts on cash flow, balance sheets and credit profiles.

Investors should demand disclosure on PFAS use, contaminated sites, provisions and liability estimates, and integrate PFAS litigation liabilities explicitly into valuation, credit and risk models. They should also use voting and engagement to influence PFAS phase-out, accelerate due diligence, and align capital expenditure with a PFAS-limited future.

PFAS should be treated as a material risk factor that can extend from producers to downstream users, requiring integration into research, valuation and stewardship priorities.

The TPI Global Climate Transition Centre (TPI Centre) at the London School of Economics and Political Science (LSE) is pleased to invite you to an upcoming event taking place in Yeosu, Republic of Korea, and online globally, as part of 2026 UN Climate Change Climate Week 3 and Korea Green Transformation (K-GX) International Week.

• Date: Thursday 23 April 2026
• Time: 10.00am KST, 2.00am BST

• Filipe da Silva, Shipping Sector Lead, Carbon Performance, TPI Centre at LSE
• John Yum, Head of Shipping Team, Solutions for Our Climate 
• Karlos Lee Moresi, Team Leader and Programme Adviser, Climate Finance and Resilience, Pacific Islands Forum Secretariat (PIFS)
• Moises Erquiza, Junior Professional Officer, IMO Regional Presence Office for Technical Cooperation in East Asia (RPO East Asia)
• Nakyung Jang, Climate Finance Advisor, Green Based Strategy Institute (GBSI)
• Youngbin Choi, Chief Researcher, GBSI; COP29 Korean Youth Climate Champion

• To attend online, register here.
• To attend in person, register here. 

The TPI Global Climate Transition Centre (TPI Centre) at the London School of Economics and Political Science (LSE) is pleased to invite you to an upcoming event taking place in Yeosu, Republic of Korea, and online globally, as part of 2026 UN Climate Change Climate Week 3 and Korea Green Transformation (K-GX) International Week.

• Date: Thursday 23 April 2026
• Time: 2.00pm KST, 6.00am BST

• Antonina Scheer, Deputy Director, Policy, TPI Centre at LSE
• Louise Kim, Director, Sustainable Solutions Group APAC, ING Bank
• Rob Patalano, Executive Director, Professor in Practice, Centre for Economic Transition Expertise (CETEx) at LSE
• Seon Ah Oh, Lead Researcher, Transition Finance, Institute for Green Transformation (IGT)
• Seungwoo Chin, Director, Carbon Neutrality Policy Division, Ministry of Planning and Budget, Republic of Korea

• To attend online, register here.
• To attend in person, register here. 

Use of Proceeds Themes Expand and Issuer Diversity Grows in the sustainable finance frameworks coming to market. 

Sustainable Fitch completed 121 assessments of sustainable finance frameworks and European Green Bond (EuGB) factsheets between January 2025 and January 2026. 

This provides a comprehensive view of market evolution across labelled debt instruments. This report analyses trends observed through these assessments, including shifts in issuer diversity, use-of-proceeds (UoPs) innovation and regional standard adoption.

SPO mandates are a leading indicator of labelled debt issuance trends, so what to expect to see in labelled debt over 2026?

1. Continuing prevalence of sustainability frameworks indicates that issuance under the label will remain strong over 2026. Among the more than40 sustainability frameworks we assessed, issuers adopting the label has expanded beyond the typical dominance of supranational, sovereigns and agencies (SSAs)to include a greater share of corporates and financial institutions in 2025.
2. There has been an increase in the diversity of sectors of issuers launching sustainable finance frameworks. We highlight entities from the metals, food and beverage and data-centre sectors with inaugural sustainable finance frameworks, adding much-desired diversification to the pool of available sectors to which investors have access.
3. Sovereigns from emerging markets continue to blaze a trail for issuance of labelled debt in their jurisdictions. Sovereign-led framework innovation was a strong feature, as were additions of jurisdiction-specific standards, particularly where these are relevant for domestic market practice or investor expectations.
4. EuGBs continue to gain traction, and the March 2026 EC clarifications on capex look-back periods will further smooth the path ahead.

https://www.sustainablefitch.com/banks/review-of-2025-spos-eugb-assessments-23-03-2026

At the Federal Reserve Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA) hearing, I delivered a message based on decades of research and regulatory engagement: strong, credible regulatory institutions are essential to financial stability and access to capital — particularly for minority-owned businesses.

Nearly a quarter of workers age 50-plus feel like they are being pushed out of their jobs even though workforce trends suggest employers should be encouraging and supporting staff of all ages, according to a new survey from AARP Research.

The results show that age bias remains a persistent challenge for workers age 50 and older, whose fear of losing their current job is compounded by the worry that age discrimination would prevent another employer from hiring them.

• By 2050, the global population of those 65 or older will reach 1.5 billion, nearly double the 2020 level.
• Increasing the employment of older workers could have a meaningful impact on the economic drag from an ageing population and declining birth rates.
• All age groups, including 27% of baby boomers, want more AI training, according to a new report.

• Published: Feb 2026
• Covers: Quarter ended 31 Dec 2025

... contains ...

• Sustainability at MFS
• Sustainability and Stewardship Update
• Stewardship at MFS
• Recent Engagement Activity

Published in Feb 2026

... reports on ...

Activity & outcome against six responsible investment principles

Contents

1. Stewardship philosophy
2. Engagement approach
   1. Dollar General
   2. CVS Health
   3. Teleperformance
3. Opportunity list
4. Thematic engagements
5. Additional engagement tactics
6. Proxy voting

Published 22 Jan 2026

Details engagement activity on four primary themes:

• Climate resilience
• Nature and beyond
• Social coherence
• Transparent reporting

...also listing of issuers engaged.

Barclays PLC — Annual Report 2025 (contains a dedicated “Climate and sustainability report” section as part of the group annual report).

Deutsche Bank — Annual Report 2025 (includes the Sustainability Statement 2025 within the annual report package).

Sustainability Data Compendium 2025 (metrics/targets aligned to the Sustainability Statement; published March 2026).

HSBC Holdings plc — ESG Data Pack (FY 2025) (PDF; published Feb 2026 and tied to the 2025 annual reporting set).

ESG reporting hub:

• Annual Report and Accounts 2025: see pages 33-64 for ESG disclosures (PDF 10MB)
• Strategic Report 2025 (PDF 7MB)
• ESG Datapack 2025 (Excel) (XLSX 406KB)
• ESG Datapack 2025 (PDF) (PDF 645KB)
• Financed Emissions and Thermal Coal Exposures Methodology (published February 2026) (PDF 6MB)
• GHG Reporting Guidance 2025 (PDF 275KB)
• HSBC’s USD750 bn - USD1 trn Sustainable Financing and Investment Ambition - Data Dictionary 2025 (PDF 5MB)
• 2025 UK Pay Gap Disclosures (PDF 475KB)
• Carbon Reduction Plan (PDF 510KB)

Europe is entering a decade in which competitiveness depends on resilience, clarity of rules, and the ability of companies and investors to plan with confidence. EU sustainable finance is not an add-on to this strategy – it is one of the few areas where Europe already has global leadership and where the market outcomes demonstrate clear economic value.

... includes ...

1. Sustainable finance is delivering tangible economic benefits
2. Europe’s advantage lies in credible, stable, high-quality rules.
3. The main risk is regulatory volatility.
4. Policymakers should pursue simplification – without weakening the core of the framework.
5. Sustainable finance is a pillar of Europe’s strategic resilience.

There’s a hot new theme in the global solar industry: solar panels in space. But why the sudden interest, who is leading the way in exploring the potential, and what are the key milestones to watch?

... includes ...

• What’s the buzz about solar power in space?
• How does solar power in space work, and why could it be good for data centres?
• What are the potential obstacles?
• Who is leading the way on solar in space?
• What are the next steps and key milestones to watch?

Energy storage is the world’s fastest-growing cleantech. We see it as a key enabler for the global energy transition, supporting the further rise of renewables and electrification – and we expect its explosive growth to continue.

Includes:

• Energy storage: the great enabler that lights up the night.
• This has helped battery energy and storage systems (BESS) emerge as the world’s fastest-growing cleantech
• Transport has helped to drive this transformation.
• Could batteries make the sun shine at night?
• A decade of disruption ahead
• Battery storage to continue as the fastest growing cleantech
• … and mainland China to remain the number-one market for battery energy storage systems

The latest Net-Zero Navigator report covers the decarbonisation of the Asia-Pacific (APAC) region and the many contradictions it presents. It is responsible for more than half of annual global greenhouse gas (GHG) emissions and more than three-quarters of global coal consumption. It has also doubled the installed renewable energy capacity since 2015 and produces many of the essential components of low-carbon technology.

A successful transition will mean addressing both the fossil-based status quo and the cleantech momentum of the future. We view two factors as key drivers in determining the pace of APAC’s energy transition: the decarbonisation of hard-to-abate sectors, and the changing nature of the region’s energy demand.

2025 was a pivotal year for UBS, as we advanced the integration of Credit Suisse, strengthened our foundations and deepened our support for clients navigating an increasingly dynamic and complex environment.

As we build on this momentum, innovation and collaboration across the Group continue to shape how we deliver for our stakeholders. But long-term success is also rooted in the responsibility we share to help shape a more sustainable future – for our clients, our people and the communities we are part of. Our efforts remain anchored in our ambition to position UBS as a leader in sustainability and are guided by three pillars:

(i) Protect: manage our business in alignment with our sustainable, long-term strategy and evolving standards;

(ii) Grow: embed an innovative sustainability and impact offering across all our business divisions; and

(iii) Attract: be the bank of choice for clients and employees.

Key Takeaways

• "Despite the slowdown in sustainable debt issuance in 2025, the market has sufficient liquidity to meet near-term refinancing needs, in our view. Recent rated issuance volumes outpace annual maturities in each of the next five years.
• Rated sustainable bond maturities are currently set to peak in 2028, at $438 billion, with recent issuance from financial institutions and international public finance providing momentum.
• Green bonds dominate upcoming maturities, a trend we assume will persist as their share in last year’s rated issuance increased by 2 percentage points (ppts) to 57%."
   

Key takeaways

• "In 2025 the EU sought to simplify a range of its Green Deal policies in the face of heightened political pressure and competitiveness concerns. We foresee it conducting more so-called simplification reviews in 2026.
• High emitters continue to face elevated, but manageable, climate transition risk as industry-level regulations have only slightly changed so far, while carbon pricing has expanded to include some imported goods. There could be positives for some domestic industries that might benefit from new sources of support, though details remain vague.
• Disclosure regulations have undergone significant de-scoping or reshaping, though the biggest companies will still be subject to many sustainability and climate regulations.
• While the EU still leads in numbers of sustainability and climate regulations, global policy divergence means companies will need to carefully plan potential investments while balancing wider geopolitical and trade risks."

The affordability of electricity has become a major obstacle to electrification, digital infrastructure growth and the broader energy transition in many markets globally.

This has resulted in fast‑forming policy and regulatory responses being decided on a market-by-market basis, through levy shifts, tariff redesign, and capacity and grid decisions, all of which will present important risks to public- and private-sector entities in the coming years.

Yet the forces driving electricity price changes vary widely across regions, and their impacts are equally uneven. Consequently, regulatory responses will remain fragmented, perpetuating an uneven competitive landscape that could hinder progress toward a low‑carbon electricity future.

Increasing geopolitical fragmentation and uncertainty about the reliability of long-standing alliances, exacerbated by ongoing global conflicts, have raised new questions from investors and other stakeholders about how to navigate investments in defense and defense-related sectors in light of their commitments to responsible investment practices.

Here S&P Global Ratings responds to frequently asked questions from market participants about this evolving issue.

In 2020, the world received a wake-up call on ocean plastic pollution. The Pew Charitable Trusts’ Breaking the Plastic Wave report found that, without action, the annual flow of plastic into the ocean would nearly triple by 2040. Five years later, the alarm is ringing louder. 2025’s report reveals that despite rising global awareness and policy efforts, plastic pollution has increased by 21% since the original study.

However, the report also provides a credible, evidence-based roadmap on the way forward. Annual plastic pollution can be cut by 83% by 2040, but only if we undertake a total system transformation across the value chain. This will involve measures such as reducing production, improving design and expanding waste management systems.

Yet none of this is possible without transparency. Accurate disclosures enable governments to design effective policies, helps organizations identify risks and opportunities in their supply chains, and empower investors to direct capital towards new businesses and innovations in the circular economy.

Bosch Group, a leading global supplier of technology and services, strives to facilitate decarbonization commitments across more than 3,200 suppliers spanning different sectors in their supply chain.

Global supply chains are under unprecedented pressure. From geopolitical shocks to extreme weather events, supply chains are increasingly unstable and unreliable – creating a domino effect of operational and financial challenges for procurement teams.

Even amidst this volatility, the companies that thrive will be those that turn environmental data into action. By engaging suppliers, integrating disclosure data into procurement, and addressing climate and nature-related impacts, businesses can manage their risk by building supply chains that are sustainable, resilient and profitable.

The report highlights key use cases in which companies are managing critical supply chain risks through a combination of approaches and data points.

CDP has tracked ten of the highest impact cattle and soy traders, assessing their progress against the good practice guidance of the Accountability Framework initiative (AFi) and providing targeted recommendations to achieve and transparently report deforestation- and conversion-free (DCF) production and sourcing.

This assessment covers nine prominent traders that disclosed publicly between 2001 and 2024: Archer Daniels Midland (ADM), Amaggi, Bunge, BRF S.A., Cargill, Louis Dreyfus Company (LDC), JBS, Marfrig Global Foods S/A, and Minerva Foods. LDC is included for the first time in 2024 following its public disclosure. COFCO responds privately and is therefore excluded from this assessment.

Ambitious targets to eliminate deforestation and other ecosystem conversion in commodity supply chains were set for the end of 2025. This summary assessment charts progress using CDP’s commodity management KPIs as companies prepare their 2025 reports for the 2026 disclosure cycle.

CDP's second annual Corporate Health Check, produced in collaboration with Oliver Wyman, examines how the world's largest companies are progressing on their environmental commitments and what this means for their financial performance.

Drawing on data disclosed through CDP, the report shows the levers these business leaders are pulling to improve performance and take advantage of environmental opportunities. Companies scoring at Leadership level – the highest rating of the four categories in the CDP assessment – are setting the pace for corporate action across climate and nature while also realizing the financial benefits.

Building environmental and climate resilience is not only about managing risks. Our analysis shows that Leadership companies in this year’s assessment realized a total of US$218 billion in environmental opportunities over the last 12 months. Despite a challenging political and economic landscape, large corporations across sectors and regions remain committed to acting on their environmental risks.

Developments over the last year have prompted a further recalibration of perspectives towards climate & sustainability. In this note we explore key themes for 2026, incorporating the intersection of geopolitics and business competitiveness.

Top 10 Trends and Outcomes

1. The landscape of global climate and sustainability policy is set for a period of distinct regional differentiation, shaping varying challenges and opportunities for sustainable finance.
2. The EU's sustainability and regulatory agenda will likely continue to be influenced by geopolitical and economic issues in 2026.
3. Transition finance is set for a pivotal year in 2026, with frameworks finalized in late 2025 enabling better access to financing for corporates with clear transition plans in hard-to-abate sectors.

... read more ...

AI deployment has become a defining strategic priority for the private sector, promising to enhance productivity, innovation, and competitiveness. Ensuring the technology drives prosperity and progress for every American is a top national priority.

As companies race to adopt AI, significant questions are emerging about what it means to pursue these new business imperatives in ways that empower American workers, strengthen local communities, create good jobs, protect consumers, and build trust in business and capitalism.

... includes ...

• Positive Potential of AI
• Shared Concern for Safety
• Commitment to Workforce Support
• Divergent Views

Key Findings

1. Only 53% of Americans believe large U.S. companies are very or somewhat just, the lowest percentage since we began this polling in 2019. Only 35% believe our current form of capitalism is working for the average American. 

2. This is at odds with the expectations of the public. 80% believe business can be a force for positive social change and 89% agree it’s important that companies promote an economy that serves all Americans.

3. When we dig deeper, Americans care most about worker-related issues such as providing a fair and living wage, supporting worker well-being, and offering advancement and training opportunities, alongside employee benefits.

4. As AI and automation become even more dominant in 2026, leaders have a significant challenge ahead to innovate and grow their business while continuing to invest in and cultivate their workforce. Our recently released research on perceptions of AI amongst corporate leaders, investors, and the American public aims to help them identify key considerations for responsible AI deployment at scale.

New York, New York, United States • Boston, Massachusetts, United States

Sustainability Investments Manager - 
Purchase, New York; Chicago, Illinois; Plano, Texas

Within this role, you will be undertaking high-quality and insightful ESG research, risk advice, stewardship and other activities that make a decisive contribution to a range of asset classes and themes. By working with initiative and in collaboration with colleagues from across the business and at all levels, these actions help to secure members’ futures by identifying and managing the ESG risks and opportunities that matter most to financial outcomes for members. A key part of your role will be ensuring our ESG risk advice on public and private investments, both managed internally and by external asset managers, is evidence-based and impactful.

The team is looking for a dynamic, engaged professional to support cross-functional reporting initiatives and carbon reduction activities. The role includes supporting the operations and integration of the team and working with internal colleagues at all levels and external stakeholders to advance the team’s overall impact. This role is ideal for someone who excels at coordination, stakeholder communication, and process improvement.

The role is accountable for the implementation, ongoing development and effective delivery of the PPF’s Stewardship Strategy, supporting the management of investment risks through engagement and voting and contributing to the achievement of sustainable long-term investment return across the Fund.

This role offers a genuine opportunity for a candidate who is passionate about sustainability, climate change and the transformation of the investment industry in a way that is additive across the value chain for the business.

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 · Singapore
Team Markets
Seniority Senior
Closing: 11:59pm, 22nd Mar 2026 +08

As a Senior Sustainability Analyst, you will play a key role in advancing Broadridge’s sustainability strategy and driving progress toward near-term and long-term emissions reduction goals. In this role, you will lead the development of supplier engagement program and contribute to disclosures aligned with global sustainability frameworks. You will collaborate with internal stakeholders and external partners to deliver accurate insights, identify opportunities for improvement, and recommend strategies that drive meaningful progress toward Broadridge’s environmental commitments.

Macmillan is seeking a Sustainability Specialist to support its Environmental, Social, and Governance (ESG) program. This role will be key in driving sustainable business practices and strategies to help Macmillan achieve its environmental targets. The Specialist will collaborate across various teams to ensure the company meets its sustainability goals, adheres to environmental regulations, and integrates eco-friendly practices into daily operations.  Reports to the Director, ESG. 

You will join the ESG analyst team within the Fixed Income platform, to perform the following:

-Labeled Bond Research and Analysis: perform the ESG assessment of Green Social and Sustainable bonds (GSSB) according to BNPPAM internal framework and taxonomy. Provide opinions on new and recurring issuances when announced in the market. Maintain the database and processes linked to the assessment framework in collaboration with RI Techno.
-Coordination: Assist the coordination work within the Fixed Income and Core Investment platforms (meeting preparation and follow up, internal stakeholder management, coordination with other teams, etc)....

You will work collaboratively with our investment professionals to integrate sustainability considerations into our investment process including engaging with our investee companies on ESG issues. In this capacity you will work across the IM platform globally, with an initial focus our UK and European based investment teams. You will contribute to the development of Fidelity’s global sustainable investment frameworks and solutions. You will also work with client-facing teams to evidence the ESG integration process to our clients and consultants, particularly those based in the UK and Europe, acting as an ESG spokesperson both internally and externally.

This is a 12- month fixed term contract.

As a Sustainable Investing Analyst (AVP), you will report to the Head of Sustainable Investing Operations and will be responsible for the following:

-Play a leading role in the firm’s reporting to satisfy sustainable investing-related disclosure frameworks and external commitments
-Help meet sustainable investing-related regulatory obligations in various....

End Date:

Tuesday 17 March 2026

12 Month Fixed Term Contract

To identify, develop, and embed an approach to managing Barclays' sustainability-related risks, strategy, and ambitions; and supporting the banks’ business objectives, priorities, and regulatory requirements.

-Oversee the development of the EMEA risk management framework for ESG in collaboration with partners in other regions, Tokyo, within EMEA and with the first line of defence.
-Understand evolving regulatory and other stakeholder expectations and propose solutions to management that will continue to promote EMEA and MUFG’s ESG ambitions from both a business and risk perspective.
-Work closely with the Deputy Chief Sustainability Officer to ensure the risk framework meets the ambitions as agreed by the EMEA Sustainability Committee.
-Provide cover and support to other areas of the team and wider ERM responsibilities.

You will have the opportunity to manage project deliverables and have ownership of transformational topics, specifically within transition finance and net zero. A key feature of the role is close cross-divisional collaboration with all IBCM business units, as well as with the Chief Sustainability Office, IBCM and Global Communication teams, and the Chief Financial Office.

You will be part of a highly visible team with a direct impact on the execution of our product roadmap and vision, helping to deliver trendsetting products focused on Emissions & Environmental Data.

You will interact with internal partners to identify opportunities and respond with meaningful enhancements.

As Head of Sustainable Index Product, you will be responsible for the strategy, growth, governance, and risk management of Bloomberg’s ESG, Climate, and Sustainable index offerings. You will lead a global index product team within the Enterprise Data Product division and act as a senior control owner, balancing client demand and commercial objectives with regulatory and governance requirements.

Associate, Signatory Operations - Beijing
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 · Beijing, China

Team Signatory Operations
Seniority Junior
Closing: 11:59pm, 1st Mar 2026 KST

What you will be responsible for:

-Lead and conduct research on sustainable investing themes, including emerging topics such as natural capital and biodiversity, with a focus on building the associated investment thesis behind these topics
-Develop thought leadership pieces to demonstrate State Street Investment Management’s sustainable investing capabilities, focusing on financial materiality
-Enable sustainable investing product innovation by developing and supporting credible implementation methodologies to new investment approaches, e.g., sustainable outcome investing
-Partner with PM teams to conduct asset class-specific research on sustainability factors and to support client solutions

This is a critical role as part of our commitment to innovation and relevance in Sustainable and Transition Finance. The position will lead a global team of direct, commission-based sales professionals across EMEA, APAC, and the Americas to deliver against sales targets, including new sales, revenue growth, market coverage, and customer retention.

As Head of Sustainable Index Product, you will be responsible for the strategy, growth, governance, and risk management of Bloomberg’s ESG, Climate, and Sustainable index offerings. You will lead a global index product team within the Enterprise Data Product division and act as a senior control owner, balancing client demand and commercial objectives with regulatory and governance requirements.

As a Research Analyst, the candidate will work closely with our Global Equity Research and Data Science groups which provides in-depth company, sector and macro expertise to identify investment recommendations and emerging industry trends for the firm.

• Horizon Environmental & Climate Solutions, Associate

The primary duties of this role include:  

-Internal and external ESG and sustainability reporting, including responsibility for data quality, transparency, assurance and alignment with best practice frameworks and regulatory requirements (e.g. TCFD, EPRA best practices, SECR, GRI and ISSB). 
-Determine relevant ESG benchmarks, prepare submissions and manage relationships with benchmark providers......

We’re seeking a Senior Manager – Sustainability (Water) to guide and grow our water stewardship, nature strategy, and beyond-value-chain mitigation work across our markets. This is a high impact role at a pivotal time, ideal for someone who blends technical sustainability expertise with strategic thinking, partnership-building, and a desire to create measurable change.

Unilever is seeking a dedicated expert to strengthen its capacity for standards and frameworks engagement and advocacy across its climate and nature goals. This role will ensure alignment and coordination across internal teams and be a strong external voice in shaping global standards and frameworks such as the GHG Protocol, Science Based Targets initiative, Science Based Targets for Nature and key certification schemes.

We are seeking an experienced Director, Sustainable Research & Analytics to join the Sustainable Leadership team at FTSE Russell, a fully owned subsidiary of London Stock Exchange Group. The role reports directly to the Global Head of Sustainable. This is a pivotal role in ensuring the integrity, relevance and strategic value of the sustainable indices and index-based research, reporting and analysis for our clients. The team work closely with both internal stakeholders across FTSE Russell, wider LSEG and FTSE Russell’s partners and key clients, including major asset owners, asset managers and investment banks in the creation of new index products.

We are seeking an experienced Director, Sustainable Research & Analytics to join the Sustainable Leadership team at FTSE Russell, a fully owned subsidiary of London Stock Exchange Group. The role reports directly to the Global Head of Sustainable. This is a pivotal role in ensuring the integrity, relevance and strategic value of the sustainable indices and index-based research, reporting and analysis for our clients. The team work closely with both internal stakeholders across FTSE Russell, wider LSEG and FTSE Russell’s partners and key clients, including major asset owners, asset managers and investment banks in the creation of new index products.

Join us as a Sustainability Structurer where you will support the UK Corporate Sustainability Finance product offering for both new business and existing portfolio, adopting sustainable and transition finance products by UKC client with the execution and optimisation of structured ESG portfolio transactions to meet objectives. Build long term and economic key partnerships across various sector and coverage teams aligned with the sustainable agenda. Optimising returns from client opportunities either at bespoke or at structured portfolio levels and work in collaboration with other UK Corporate origination teams and coverage.

Lazard Asset Management is currently recruiting for a Head of Quantitative Sustainable Investment Research to join its Sustainable Investment and Quantitative Research teams across New York, Boston, and London. This is an exciting opportunity to work in a growing team within a large global organization. This position will play a key role in leveraging the firm’s existing Sustainable Investment research capabilities to set and drive the quantitative ESG and climate research agenda. The ideal candidate will have a passion for sustainable investing combined with strong quantitative research skills.

BNY Sustainability are seeking a future team member to support day-to-day planning and execution with a focus on ESG regulatory implementation. This role is located in London.

In this senior role, you will be at the forefront of Nokia's sustainability journey, engaging with top customers worldwide. Working closely with various teams, you will develop and enhance Nokia's sustainability value proposition, creating new business opportunities. As a key sustainability expert, you will guide regional teams and accounts, pushing the boundaries of co-creation and impacting sales and customer relationships.

You will be responsible for supporting the Entity Reporting & Group Reporting LT to deliver the finance vision and successfully transition to a future state team which is efficient, structured, and accountable. You will work directly with the Director of Entity & Group Reporting to the finance strategy on sustainability reporting.

As a Sustainable Investing Research Analyst within the Sustainable Investing team, you will collaborate with financial analysts and portfolio managers under the leadership of the Global Head of Sustainable Investing Research. You will report to one of the Sustainable Investing Research Leads, focusing on delivering sustainability insights through ESG risk assessment and investment frameworks across various asset classes.

Sustainability is one of the Barbican’s five core values hence this new strategically important role has been created. The Head of Sustainability will lead the sustainability team and ensure the Centre achieves its strategic goals and objectives. The post holder will lead the development and delivery of the sustainability strategy and report at a senior level on its progress. They will influence decision making across every team.

In partnership with Directors’ Group and the Management Team, they will also lead behavioural change in the areas of energy, sustainability and environmental management. They will lead the Centre-wide.

The Science Based Targets (SBTi) initiative is looking for a Sector Lead (paternity leave cover; 6-month contract with possibility of extension) to support the Sector Standards Team’s work to develop standards for the energy, industry and transport sectors. 

Core Responsibilities

-Build the ESG compliance agenda by partnering with Legal, Governance & Public Affairs and key partners to identify, interpret, and assess emerging ESG and human rights regulations aligned with sustainability and responsible sourcing goals
-Turn regulation into action by building multi-year compliance roadmaps and mitigation plans, inspire change management, and supporting embedding requirements into operations and supplier practices - especially within Procurement, in close partnership with Sustainable Sourcing
-Lead global EU Deforestation Regulations compliance, owning the overall roadmap and governance while coordinating cross-functional teams and ....tracking progress, risks, and milestones establishing ownership in and transition to business.

As the Principal Consultant for Corporate ESG Services, you will develop and manage the ESG advisory services offering within the wider ESG Corporate Services Business Unit, with support from Business Unit Manager.  Acting as commercial lead and providing support and direction. To deliver projects to the required quality and driving business growth and development activities. Provide an expert point of reference on technical delivery.

Join our client's JV project team, where your role will be to provide vital environmental and sustainability advice, guidance, and support across all operations. Your expertise will help reduce environmental risks associated with construction activities and foster a culture of sustainability.

Head, UK & Ireland, Responsible Investment Markets (12 Month Fixed Term Contract, Family Leave Cover) - Principles for Responsible Investment - Applied

Associate, Net Zero Asset Owner Alliance (12 Month Fixed Term Contract) - Principles for Responsible Investment - Applied

Head of Sponsorship, Events - Principles for Responsible Investment - Applied

Senior Specialist, Policy - UK (Part Time) - Principles for Responsible Investment - Applied

Work as part of a multidisciplinary team across a range of industries to assist companies in better understand and develop solutions to respond to the complex and evolving policy, regulatory, and business environment risks and opportunities associated with ESG/Sustainability and Decarbonization....

Supervise and enhance the analysis of corporate activities and provide recommendations related to enhance their sustainability/ESG strategy, methods, framework, and related tools to support clients in achieving their sustainability/ ESG objectives.....

The MSCI Sustainability Research Corporate Governance team is responsible for providing clients with actionable content on corporate governance and contributing innovative insights into the environmental, social, and governance (ESG) ratings framework.

Open to London, Frankfurt and Amsterdam locations

Asset Management role