Big banks under pressure to end fossil-fuel finance - The Mail & Guardian

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How did HSBC, a bank that has committed $86.5-billion in fossil-fuel financing since the Paris Agreement was signed in 2015, suddenly change its investment path? The answer is shareholder engagement.

The Financial Sustainability Board created the TCFD to improve and increase reporting of climate-related financial information. Investec’s report discloses all fossil-fuel risk exposures in its portfolio to shareholders. , committing to releasing its exposures.

, found that the estimated value at risk to the total global stock of manageable assets as a result of climate change ranged from $4.2-trillion to $43-trillion between now and the end of the century. “Compounding the effect on longer-term returns is the risk that present valuations do not adequately factor in climate-related risks because of insufficient information,” the report continues. “As such, long-term investors need adequate information on how organisations are preparing for a lower-carbon economy.”

 

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