Trade unions

Digital integrated annual report with detailed ESG goals and performance for FY 2024–25.

The 2025 Tracking the Transition report by the Climate Policy Initiative (CPI), with research contributions from Profundo, provides an independent assessment of how private financial institutions are aligning with global climate goals. Using the Net Zero Finance Tracker, it evaluates 1,500 institutions, representing over USD 286 trillion in assets, across 17 indicators of climate ambition, implementation, and impact.

The findings show that while more institutions are setting climate and fossil fuel phase-out targets, progress remains uneven and often lacks depth. Too much private finance continues to flow into carbon-intensive sectors, even as clean energy investment accelerates.

The report underscores that transparent, data-driven tracking is essential for holding financial institutions accountable and supporting the global shift to a low-carbon, resilient economy.

This report presents the latest global assessment of the meat and dairy industry's outsized climate impacts, estimating the greenhouse gas emisions generated by 45 of the world's major meat and dairy processing companies in 2023/22.

Together, these companies emitted an estimated 1.02 billion tonnes CO₂-equivalent — making them, if treated as a single country, the ninth-largest emitter in the world, with combined emissions exceeding those reported for Saudi Arabia.

Their methane emissions alone are estimated to surpass those reported for all EU-27 countries plus the UK combined. Just five firms — JBS, Marfrig, Tyson, Minerva and Cargill — account for nearly half (47%) of the total, emitting an estimated 480 MtCO₂-eq, more than reported for Chevron, Shell or BP. JBS, identified as the highest-emitting meat company, accounts for almost one quarter (24%) of total estimated emissions across the 45 companies; previous analyses have found its methane footprint alone to exceed that reported for ExxonMobil and Shell combined.

Deforestation and Finance: Why voluntary action has failed

Forests and nature, too often treated as peripheral, have become central to the global policy agenda. In the decade since the Paris Agreement, banks have channelled over USD 439 billion into forest-risk commodities, including USD 72 billion in just the past 18 months.

re banks and investors doing enough to ensure the energy transition is fair for all?
As the global energy transition accelerates, the demand for critical minerals, such as lithium, copper, nickel, graphite and cobalt is surging. These minerals are vital for batteries, electric vehicles, renewable power systems and high-tech applications. However, this report by Fair Finance International, Oxfam and Profundo uncovers a stark contradiction: while banks and investors funnel billions into critical mineral producers, many operate without robust environmental, social and governance safeguards.

Drawing on case studies from Brazil, Peru, Mozambique and the Democratic Republic of Congo, the research reveals widespread impacts including biodiversity loss, water-contamination, labour-rights violations, and weak community consultation.

The report also focuses on eight of the largest EU-based financial institutions and examines their financing flows into critical-minerals producers, alongside regulatory frameworks like the EU Critical Raw Materials Act, Batteries Regulation and Sustainable Finance Disclosures Regulation. It finds significant gaps, from policy to implementation, and calls on financiers and policymakers alike to act: adopt transparent due-diligence policies, integrate human-rights protections into finance, set exclusion criteria for high-risk mining projects and ensure local communities benefit.

Global investments in the energy transition reached a new record of USD 2.4 trillion in 2024 – a 20% increase from the average annual levels of 2022 and 2023. Despite annual investments more than doubling since 2019, they remain concentrated in advanced economies and China, leaving most emerging and developing countries behind.

Investments also remain well below what is needed to achieve the 1.5°C Scenario in IRENA’s World energy transitions outlook 2024 and the 2025 Delivering on the UAE Consensus report.

About one-third of investment in 2024 was directed towards renewable energy technologies, pushing renewable energy investment to USD 807 billion. Despite this milestone, year-on-year growth of renewables slowed significantly, with annual investments increasing by 7.3% in 2024, compared to 32% the year before.

The report reveals that most investment is provided at market rate debt and equity, with grants accounting for less than 1%. There is therefore an urgent need to mobilise investments – particularly impact-driven capital such as low-cost debt and grants – to maintain the momentum of the energy transition whilst avoiding exacerbating debt burdens.

The oil and gas industry is on a path of managed decline, even as the International Energy Agency (IEA) resurrects an old growth scenario.   

The reintroduction of the “Current Policies Scenario” (CPS) assumes no new climate policies until 2050 and implies energy innovation stops in 2030. But real-world signals tell a different story.   

• The CPS would need capex to rise by $200-300bn/year to reach its goals. Instead, capex has stabilised at $550-600bn, ~40% below its 2014-15 peak. This is not growth, it is a shift from expansion to maintenance.  
• Companies are harvesting: rewarding shareholders with dividends and buy-backs, rather than expanding the resource base.  
• Exploration is down ~60%. Credit rating agencies are downgrading projects and consolidation is rising. These are the actions of a mature industry in strategic retreat, not one betting on growth.  
• Meanwhile, demand foundations are cracking: Electric vehicles (EVs) are displacing 4-5Mb/d by 2030. Gasoline demand is set to peak in 2025. China’s oil demand and coal generation are plateauing, signalling a structural shift in Asia’s energy mix.  
• As fossil capex stagnates, annual investment in renewables, grids, and electrification exceeds $2.2 trillion – more than double fossil fuel supply investment.    

China’s onshore labelled bond market has rebounded from its 2024 trough, with issuance reaching CNY1,014 billion (USD141 billion) in the first three quarters of 2025, already surpassing the full-year total for 2024. The recovery has been driven by falling Chinese-yuan interest rates, which have supported strong growth in financial bonds and modest gains in corporate bond issuance.

The World Bank has confirmed that Jamaica’s catastrophe bond will face a full payout, in the wake of Hurricane Melissa, which reached Category 5 classification in late October 2025 and became the third most intense Atlantic hurricane on record.

The proposed amendment to the EU’s Sustainable Finance Disclosure Regulation (SFDR) would shift the SFDR from being a disclosure-focused regulation to being a product categorisation regime.

"Our analysis examines how the energy transition could affect provincial government revenues, outlining key policy developments and sectoral risks. It also examines challenges in scaling up carbon capture, utilisation and storage (CCUS) and highlights opportunities to diversify tax bases through transition-resilient sectors.  

Key findings 

• The energy transition could wipe out over 80% of Canadian provincial governments’ expected revenue from upstream oil and gas in the 2030s.   
• Canada’s high-cost oil and gas production will increasingly be squeezed as clean energy and transport electrification curb demand and put downward pressure on global prices. 
• Carbon capture, utilisation and storage would not insulate the sector from demand substitution, even if successfully deployed.  
• At both a provincial and federal level, Canada needs to diversify its tax base. Clean energy and critical minerals are major growth sectors which will generate long-term revenues. 
• Several proposed oil and gas upstream projects would likely be uneconomic in a moderate-paced transition, and incompatible with the Paris Agreement goals, which risks failing to generate expected government tax-take. " 

This report explores whether investment in new upstream projects risks eroding Canadian oil and gas value. It benchmarks Canadian firms against global peers to clarify relative positioning and assess risk exposure in a global context. 

Key findings

• The energy transition could wipe out over 80% of Canadian provincial governments’ expected revenue from upstream oil and gas in the 2030s.
• Canada’s high-cost oil and gas production will increasingly be squeezed as clean energy and transport electrification curb demand and put downward pressure on global prices. 
• Carbon capture, utilisation and storage would not insulate the sector from demand substitution, even if successfully deployed. 
• At both a provincial and federal level, Canada needs to diversify its tax base. Clean energy and critical minerals are major growth sectors that will generate long-term revenues.
• Several proposed oil and gas upstream projects would likely be uneconomic in a moderate-paced transition, and incompatible with the Paris Agreement goals, which risks failing to generate expected government tax-take.

"We surveyed more than nine hundred institutional investors, covering both asset owners and asset managers, to understand their current thoughts around sustainable investing."

See survey report link below.

8th Annual Sustainable Investment Asset Owner Survey - Sustainable investment: plateauing or poised for growth?

"Each year FTSE Russell conducts a global survey to capture asset owners’ perspectives and approaches to sustainable investment (SI). 

In 2025, we surveyed 415 asset owners across 24 countries to uncover their priorities, challenges, and strategies. The findings are presented in our latest report—your guide to the trends shaping SI worldwide."

Global public funds are ensuring the sustainable transition remains on track 

Political opposition, in the US and elsewhere, to taking action on climate change has made investing in the transition to a sustainable, de-carbonised global economy much more challenging. At the same time, the physical impacts of climate change are becoming more apparent and more costly, and the economic risks posed by an uneven transition are growing. 

The carbon markets have been subject to increased attention and significant enhancement in terms of quality, transparency and robustness over the past couple of years.

To name a few milestones and interesting initiatives: (i) following their development by the Integrity Council on Voluntary Carbon Market and their adoption in 2023, the Core Carbon principles have validated 35 carbon standard’s  methodologies; (ii) the operationalization of the Article 6.4 of the Paris Agreement, known as the Paris Agreement Crediting Mechanism (or PACM) has progressed significantly with the issuance of carbon credits directly by the United Nations; and (iii) the Symbiosis Coalition, gathering big tech companies such as Microsoft, Meta and Amazon, has issued in 2024 a request for proposal to purchase carbon credits massively. 

Ten years after Paris, COP30 did not reset the system but it clarified it. COP30 disappointed many, as no agreement was made by countries regarding fossil fuels phase out and ending deforestation.

But not all is lost: despite political fragmentation, investments in renewables are still double those of fossil fuels since last year, displaying technological progress and the viability of low-carbon alternatives. Climate financing needs are higher than ever, on the public and the private side. Despite an outcome that fell short of expectations, updated Nationally Determined Contributions (NDCs) still provide investable policy visibility.

More than 70% of global emissions are now covered by an updated NDC, including main economies, despite global emissions having not yet peaked: we are still on a 2.8°C trajectory under current policies vs. almost 4°C in 2015. Investors gain firmer expectations on national policy corridors, which is essential for sector allocation, capex alignment and risk pricing. Climate finance architecture is consolidating. 

The Baku–to-Belém roadmap offers the clearest structure to date for mobilising the $1.3 trillion per year needed for EMDEs, with a stronger role for MDBs, blended finance and country platforms.
Nature finance is scaling and becoming more structured. 

The launch of the Tropical Forests Forever Facility — alongside a broader system level push on nature finance — signals the emergence of new investable models for ecosystem conservation. The first operational steps of the Loss & Damage Fund and rising adaptation needs point to fast-growing markets in resilience technologies, services and financing instruments. Carbon markets are entering early implementation. 

Operational Article 6 pilots, new international coalitions and limited regulatory openings in major jurisdictions pave the way for more liquid, interoperable, high-integrity international carbon markets. For investors, the opportunity set is widening — but scrutiny is rising. 

Scaling climate and nature finance will require savvy allocation, risk factor management, and disciplined use of credible transition plans, robust governance and transparent measurement to convert ambition into real economy outcomes.

This is the seventh edition of the EY Global Climate Action Barometer. The study offers an industry standard for gauging global advances on climate action, based on companies’ disclosures. 

"We continue to make strides towards our science-based targets, which include both an aspiration to achieve net-zero greenhouse gas (GHG) emissions by 2040 and near-term emissions reduction targets. In 2024, we reduced Scope 1 and 2 GHG emissions by 6% whilst, at the same time, our business measured in terms of revenue grew 12%. This progress demonstrates our unwavering dedication to minimizing our environmental footprint and contributing to a more sustainable future.  

In 2021, we set out to achieve 90% renewable electricity across our enterprise portfolio, electrification of 10% of our global fleet of vans and cars, and 100,000 hours of volunteerism to the communities where we operate, all by 2025. Through the dedication of our Mountaineers, we have successfully met all of these commitments."

"We introduced our pep+ strategy in 2021 and have achieved several of our goals ahead of schedule, including our 2025 operational and agricultural water-use efficiency goals, and have made meaningful progress on others. In May 2025, we announced refined goals in agriculture, climate, water and packaging to focus our sustainability ambitions where we believe we can help drive scale and position the company for long-term growth. Our refined pep+ goals aim to further align our resources with core business priorities, build on learnings and progress and help our sustainability ambitions remain actionable and achievable while accounting for external realities and business growth.

We regularly review our pep+ goals and consider whether any changes to our goals are warranted. This ESG Summary shares some of what we’re doing as we work toward our pep+ goals"

"In 2024, we made significant progress across our key sustainability and impact priorities while strengthening our platform's safety, security, and environmental performance."

Capacity development for the next chapter of sustainable investment 

Ever since, I left employment within a mainstream investment institution, I have reflected that one thing that the sustainable investment value chain could really do with is an accessible and affordable training course that teaches sustainability professionals everything that they need to know about investment and capital markets but may be afraid to ask.

(What if asking this simple question makes me look stupid?) 

Such a course, I thought, would be of value to:

• junior analysts entering the business,
• to ESG ratings agency analysts that may not have direct access to financial analysts and portfolio managers,
• to 'for impact' and 'grant-funded' research providers (with - perhaps - NGO backgrounds) looking to influence the flow of capital) and,
• frankly, to quite a lot of older analysts (such as myself) who spent a long time faking it until we made it … and then never quite had the time to go back and fill in the gaps.

(How exactly does the Fed 'set' interest rates and how does this interface with the market's role in determining interest rates and how important is this relative to other factors that need to be considered by sustainability-related bond investors?)

As I saw it, this course could differentiate itself - from the other courses available on the market - by:

• Being tailor-made, delivered in person and fully-focused on the immediate practical needs of the trainees (not on a syllabus that may suitable in general but unsuitable to the specifics)
• Putting fundamental, bottom-up, valuation, investment decision-making and capital allocation at its core. (Although this central focus would need to be supportive of entry points and application by people interested in engagement activity, passive or quants investment, regulation, client reporting etc.)
• Being grounded in reality by involving real people, their real-life needs and experiences … rather than in theoretical aspirations about what sustainable investment could be like if only ...

Spoiler: We did it!  Yesterday!

As you will have guessed by now, we finished delivering - yesterday - an 8-session course (1.5 hours each) to the wholly-engaged and wholly-engaging Sustainable Finance team at the Environmental Defense Fund 

The first thing to say is that this team at EDF have been an absolute joy to work with!

(As a trainer, you know you're onto a good thing when you have to cut off the incoming questions and practical discussion after 20 minutes at the beginning of (every) session because you need to cover at least some of the structured course material … and the actionable chat keeps going anyway on the session thread while you do this!)

More significantly, perhaps, were the existence of clear synergies between EDF's interests and ours:

• EDF employs a strong bench of deep sustainability expertise in areas of significant interest to investors (methane, hydrogen, transport, food, insurance etc) and also - through its Sustainable Finance team - a recognition that making this expertise accessible to investors requires it to be contextualised by an understanding of capital markets and investor priorities.
• At SRI-Connect, by contrast, we have no specific sustainability expertise but a strong interest in the processes and techniques that can be used to draw sustainability issues to the attention of investors. 

So, first my thanks go to Andrew Howell for the original idea (and for remembering me from when we worked at Citi together over a decade ago), to Kristin Lorenzo , Bridget Killian and Jake Hiller for shaping it into reality and to all of the others from Leslie Labruto 's team who brought energy, enthusiasm and challenge to every single session.

Thanks also to them for the budget that finally pushed me from dreamer to deliverer thereby 'seed funding' material that can now be delivered more broadly across the sustainable investment value chain. 

And also, thanks to the many industry participants that brought their expertise and real-world experience (sustainable investment is nothing if it doesn't work for real in capital markets) to the sessions:

• To Neil Brown for joining the session on how listed equity can support & encourage sustainable economic transitions
• To My-Linh Ngo for helping us to understand how 'Debt is Different'
• To Gayle Muers for telling us how sustainability really is within investment banks
• To Laurie Fitzjohn-Sykes , Chris Coggin and Sofía De La Parra for a hugely engaging discussion on What works (and what doesn't) in NGO <=> investor engagement on sustainability
• To Natasha Buckley for the laying the world of private equity and its influence out for us

The opportunity to hear directly from these practitioners (some of whom wrote the book on their particular areas of focus) was - self-evidently valuable and also a great pleasure.  Thank you all. 

The road travelled ... and the road to come

In my next post I will be discussing where this capacity development work might go next (I genuinely don’t know and am genuinely looking for input).

Before doing that, however, I must thank a number of other people who may or may realise how helpful and influential they were in building ideas and impetus towards this recent course - notably: 

• To Camilla Seth and Sabine Miltner … at the Gordon and Betty Moore Foundation who funded our first training programmes on sustainability in valuation that were delivered to 'mainstream' sell-side and buy-side analysts and funded work (that five years is still current and relevant) on how NGOs can engage investors.  Also, of course, thanks to Tanya Khotin for introducing me and encouraging me to believe that a big reach was possible with that 'Moulding Markets' programme.
• To Luke Blower , John Willis & Alexandra Russell Brown from WBCSD – World Business Council for Sustainable Development … for commissioning work and developing intellectual capital on topics such as Integrating Sustainability into the Equity Story, Integrating Sustainability into Valuation and Demystifying Investor Sustainability Needs that are foundational to the valuation and communication components of the training
• To my erstwhile colleagues, Aline Reichenberg Gustafsson, CFA and Willem Schramade from SITA for building out training programmes across sustainable investment fundamentals, valuation, integration communication and much more.
• To numerous Investor Relations Societies and stock exchanges for hosting training programmes on how IR managers don't have to believe the hype of ESG and can be much more effective if they focus on sustainability and investment fundamentals and communicate on those proactively to investors [ John Gollifer, Laura Hayter, Deborah Walter Vaz, CIRO, Katie Beith & Ian Matheson ]
• … and last - but not least - to the hundreds of people who have participated in these various courses over time and - through their engagement and feedback - shaped subsequent courses.

… and I am conscious (before you ask) that this might read a bit like an Oscar roll call … when all I've done is deliver a few training sessions … 

On the other hand, the work of interpreting, contextualising and framing sustainable investment practice and connecting it to 'mainstream' investment practice as both of those two disciplines themselves have been evolving has taken a village…  So, thank you, village.

Climate change threatens the global seafood industry. It adds and amplifies a complex, interlinked web of physical, economic, financial and systemic risks. Their physical, economic and financial manifestations cascade down value chains and affect economies, livelihoods, social structures, food security and geopolitics. Adaptation investments are needed. 

"This 2025 update is our third active ownership report, providing an overview of our engagement and voting activities for proprietary assets.

It explores our engagement activities in listed equities, corporate fixed income and introduces our approach to engaging with sovereign entities. It details our policies, engagement outcomes, and voting activities. The report also highlights industry collaborations, and where possible provides an indication of the next steps in our stewardship journey for the coming years.

One example of such a collaboration is a research project with Deltares, WWF and peers to enhance the understanding of water- related risks for investors."

2024
Western Asset updates its Sustainable Investments Statement and publishes its first TCFD Report. Western Asset continues to advise and develop solutions for its clients with sustainable investing objectives, align with regulations for sustainable investments, analyse emerging datasets and augment its Sustainable Investments infrastructure.

2025
Western Asset and Franklin Templeton integration broadens resources available to continue strengthening Western Asset’s sustainable investments program

"Over the past twelve months, the MSIM Fixed Income team continued to leverage our US$220 billion AUM platform to have meaningful dialogues with bond issuers on ESG topics that we believe are most relevant to their business and financing activities."

"We have made the following key improvements for this year’s integrated report in response to feedback from investors and other stakeholders on last year’s report and insights from ongoing engagement activities.

1. Clearly present management challenges and goals over the short, medium, and long term

2. Show how the Ricoh Group’s strengths relate to financial and future financial initiatives"

As the climate crisis escalates, the call for institutions to act is no longer a nudge - it is a demand. Infosys' journey towards sustainability began in the early 2000s.

Over the years, our efforts have created real impact across our value chain, clients, and communities.

Sustaining the momentum of carbon neutrality for six years, our next frontier is becoming climate positive in 2030, and we are engineering the path with precision. 

LG Electronics published its 19th Sustainability Report in 2025.

"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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• Access via Apple
• Access via Spotify

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.

Key Strategic Takeaways

• The integrity imperative: See how market players continue to collaborate to strengthen market integrity, with standards aligning with ICVCM Core Carbon Principles (CCPs), UN Paris Agreement Crediting Mechanism (PACM) becoming fully operational and ratings agencies boosting transparency.
• Robust acceleration: Review Q3 issuance and retirement volumes, confirming strong buyer confidence.
• Wider price gaps: Analyse the data showing that integrity is one of the most critical factors influencing carbon pricing, including the direct correlation between higher ratings and price premiums.
• Policy proliferation: Get an overview of the growing number of carbon pricing instruments globally, signaling future compliance mandates your business must anticipate.

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. 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."

Responsibilities include:

- Assist in the preparation of research reports across a range of ESG topics, including conducting primary research and data gathering

- Monitor and track research published by US analysts to aid in idea generation around fixed income and governance ESG themes

- Work with various sector analysts on collaborative cross-sector research reports

- Assist in the managing and execution of department-wide ESG publications and data initiatives

- Monitor and track Sustainability-related news flow

Full details in download link below

12 month FTC

Lead the delivery of Kingfisher’s annual ESG reporting commitments including the Responsible Business report and data appendix, annual report, banner summary reports, and responsible business pages of Kingfisher.com.

Manage the data collection process for responsible business key performance indicators (KPIs) across the group, including the data review and validation to ensure accurate disclosure.

Manage the audit and external assurance of responsible business data, including owning the relationship with external audit providers and internal audit team (where applicable).

Managing the responsible business reporting delivery team which includes internal and external specialists to successfully deliver the corporate responsible business reporting to a high standard, to time and budget

Serve as the ESG reporting subject matter expert for the KF Group, closely monitoring regulatory requirements and translating these back to the business in a clear and accessible way. Have strong technical competencies and understanding of ESG reporting frameworks and directives (i.e. SASB, TCFD, SECR, CSRD, ISSB)

Work with the Annual Report and Accounts team to ensure responsible business content required by regulation and internal/ external stakeholders is integrated into the annual reporting cycles.

Strong knowledge of Sustainable Finance markets and data needs, with experience across disclosure frameworks (e.g., TCFD, ISSB, GRI).

Master’s degree or advanced certification (e.g., CFA charterholder, CFA ESG, SASB FSA).
Experience with large dataset manipulation, profiling, and defining requirements.

Familiarity with semantic data modeling and LLM concepts

Proficiency in statistical analysis, quantitative modeling, and applied data analysis (Excel, SQL, R, Python).

Strong communication and partner management skills.

2 yr fixed term post

We’re recruiting an Investment Manager to identify, assess and manage impact investment opportunities.   You will also work with other teams to help develop the social impact investment market in the UK, working with investors, social enterprises and government.

"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.