Scenarios used by central banks to conduct climate-risk stress tests have been criticised as not fit for purpose because they fail to account for severe economic shocks caused by climate “tipping points”.
Institutions across the globe have welcomed the ISSB’s much-anticipated inaugural global sustainability standards. However, some industry experts warn that too much focus on standardising data could distract from the urgent need to decarbonise.
Vanguard’s recent exit from the Net Zero Asset Managers initiative is more evidence that US Republicans’ anti-ESG movement is having a chilling effect on investors. However, just how far the reactionary movement could hinder the energy transition is unclear.