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The hidden costs of water scarcity in livestock companies: Navigating pathways to water resilience
This report examines water scarcity risks for 18 major livestock companies, highlighting a significant disclosure gap where actual water use exceeds reported figures by 132x. Annual costs could reach US$9 billion by 2050. Investors are urged to advocate for systemic resilience and the repurposing of harmful agricultural subsidies.
Taxing entrepreneurial wealth: Evidence from Norway, 2021–2025
This research analyses Norwegian tax reforms from 2021–2024, examining their impact on migration and business investment. While outmigration increased amongst the wealthiest 0.1%, affecting approximately 100 individuals, firm-level data shows no significant reduction in investment or increased bankruptcies. The economic costs appear more limited than public debate suggests.
Making Canada weaker: Carney’s American-owned Ksi Lisims LNG is a sinkhole for Canadian taxpayers
This report argues that the Ksi Lisims LNG project is a $30-billion risk to Canada. Wholly American-owned, the facility provides few local jobs while requiring significant public subsidies. It faces Indigenous opposition and environmental threats, including methane emissions, increased air pollution, and risks to critical whale populations.
Circular economy finance guidelines: Textile sector
These guidelines provide financial institutions with a three-step methodology to classify circular economy activities in the textile sector. The framework distinguishes systemic circularity from linear efficiency, identifying market opportunities worth USD 700 billion by 2030. It supports transaction structuring, target setting, and regulatory reporting through rigorous environmental and social assessments.
The impact of climate change on fisheries
This study provides the first causal estimate of ocean temperature impacts on European fishing revenue. Using a novel Marine Degree Day metric, it finds that heat exposure is three times more damaging than cold. Projections suggest annual losses could reach €560 million by 2100, disproportionately affecting lower-income equatorial regions.
Supervisory Toolkit for AI Use in Capital Markets
A practical framework from IOSCO designed to help financial regulators and firms manage the risks associated with AI in capital markets, focusing on governance, trading, and transparency.
Global Oil & Gas Exit List (GOGEL)
The Global Oil & Gas Exit List (GOGEL) is a comprehensive public database maintained by Urgewald that tracks the expansion plans and production metrics of over 1,600 companies. It helps finance professionals identify climate-related risks and align investment portfolios with global net-zero goals.
Nuclear weapons no thanks - Except in portfolios: Do asset managers break their own rules on investing in nuclear weapons producers?
This report examines the nuclear weapons policies of 15 major asset managers against their actual investments. It finds that while many institutions claim adherence to international treaties, narrow definitions allow for continued financing of nuclear producers. The study highlights significant inconsistencies, particularly in sustainable funds, regarding companies in India and Israel.
Grievance mechanisms and remediation: Disclosure by ASX100 financials and materials companies as reported in the modern slavery statements under the 8R Framework
This research assesses how ASX100 Financials and Materials companies disclose grievance mechanisms and remediation in modern slavery statements. Using the 8R Framework, the study finds disclosure is limited, averaging 14.28 out of 40. Materials firms outperformed Financials, highlighting gaps in remedy and stakeholder engagement across both sectors.
Addressing insurability: A playbook for investing in place-based resilience
The global insurance landscape faces a risk management crisis, with natural catastrophe losses exceeding $100 billion annually. This report outlines four interventions to improve place-based resilience: improving risk-decision data, creating innovative financing structures, establishing trusted metrics, and realising co-benefits through multi-stakeholder coalitions to enhance insurability.
Adaptation & resilience impact: A measurement framework for investors
This report provides a practical framework for investors to assess the positive impact of climate adaptation and resilience investments. It applies the 'Five Dimensions of Impact' to private finance, categorising outcomes across people, planet, and economy. The guidance offers clear metrics to help scale and manage adaptation portfolios.
Biodiversity impacts of renewable energy
This study quantifies the biodiversity impacts of 47,616 renewable energy plants globally. While solar and hydro account for 90% of impacts, these are highly concentrated in a small number of projects. Better siting and firm-level screening can substantially reduce ecological harm without compromising energy transition goals.
Understanding I-PEPs: a framework for steering portfolio decarbonisation and supporting real-economy transition
This policy note introduces Indicators for Portfolio-related Emission Performance (I-PEPs). Developed for the Green Finance Alliance, these performance-based metrics enable financial institutions to steer portfolio decarbonisation. The framework focuses on year-on-year emission changes, providing a resource-efficient alternative to traditional accounting-based financed emissions for real-economy transition.
Carbon beta: A market-based measure of climate transition risk exposure
This research introduces 'carbon beta' as a market-based measure of climate transition risk. By analysing stock return sensitivity to a pollutive-minus-clean portfolio, the study identifies a significant risk premium for exposed firms and demonstrates how carbon beta effectively hedges against shocks to climate policy uncertainty and extreme weather events.
How cool is your bank? An analysis of how well South Africa’s big five banks understand and manage climate risk
This research assesses South Africa’s five largest banks’ management of climate risk. It finds that while climate commitments have accumulated, capital movement remains slow. Nedbank leads the rankings, but the sector generally lacks credible transition plans, specific exclusion policies, and transparent governance mechanisms to ensure accountability for decarbonisation targets.
The shrinking buffer: Climate change and the fragility of food
This report examines immediate threats to global food security from a record El Niño, geopolitical conflicts, and fertiliser shortages. It highlights how climate change erodes long-term resilience through thermal limits and simultaneous crop failures, urging policymakers and investors to address systemic risks to inflation, economic growth, and financial stability.