13. CLIMATE ACTION

Barclays, Morgan Stanley Win Backing for New CO2 Reporting Rule

Written by Amanda

After -bsp-bb-link state=”{“bbDocId”:”RQL501T1UM0X”,”_id”:”0000018c-24f7-df28-a5cc-26f7c4db0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>months of stalled negotiations, banks are about to get their first ever industry standard for calculating the carbon footprint of their capital markets units.

The Partnership for Carbon Accounting Financials, a global alliance of banks and asset managers that develops climate accounting guidelines for financial services, has endorsed a -bsp-bb-link state=”{“bbDocId”:”RYNRLIDWRGG0″,”_id”:”0000018c-24f7-df28-a5cc-26f7c4dc0000″,”_type”:”0000016b-944a-dc2b-ab6b-d57ba1cc0000″}”>proposal by its joint chairs, Barclays Plc and Morgan Stanley, according to a statement on Friday.

The agreement marks a milestone in climate finance. Assigning responsibility for so-called facilitated emissions — or those that are enabled through debt and equity underwriting — has long been a divisive subject, which …

Source: news.bloomberglaw.com

About the author

Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai