The Glasgow Financial Alliance for Net Zero , set up in 2021 by former Bank of England governor Carney, is a coalition of assets managers, banks and insurance firms representing $130 trillion in assets directed toward tackling climate change.Some members of the alliance have recently said that they "feel blindsided by tougher UN climate criteria and are worried about the legal risks of participation", the report said.
Morgan Stanley, JPMorgan, Bank of America and GFANZ did not immediately respond to Reuters requests for comment outside business hours. The banks' legal departments are particularly anxious about U.S. Securities and Exchange Commission rules around climate-risk disclosures, the report said. The SEC will soon require formal disclosures in annual reports about governance, risk-management and strategy with respect to climate change.
The bankers have also complained that the demands placed on them are not supported by enough government action on climate change and that there are fewer members in GFANZ from the world's top carbon-emitting countries such as China, Russia and India. GFANZ earlier said it planned to release a series of frameworks, white papers and other guidance to help its members reach their climate goals as it prepares for the next UN climate summit in Egypt in November.
Source: Law Daily Report (lawdailyreport.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street ends choppy session higher with focus firmly on FedWall Street's main indexes ended a seesaw session higher on Monday, as investors turned their attention to this week's policy meeting at the Federal Reserve and how aggressively it will hike interest rates. 1.25 👀
Source: Reuters - 🏆 2. / 97 Read more »
Asian Stock Market: Indices rebound on positive Wall Street, PBOC maintains status quoMarkets in the Asian domain have rebounded sharply after plummeting on Monday. Asian indices are following the cues from Wall Street and are trading i
Source: FXStreetNews - 🏆 14. / 72 Read more »
Stock Market News, Sept. 19, 2022: Dow Finishes Up About 200 PointsThe 10-year Treasury yield closed at its highest level in a decade ahead of this week's Fed meeting, while two-year yields ended at a 15-year high Dollar's economy crash day by day only Catholic jeo Biden failed All policies & now popularity of Biden down fall day by day American china SaudiArabia Russia but Ruble currency day by day powerful That translates to NOTHING for most of us. We’re out here s wrapping change to buy a gallon of effing milk.
Source: WSJ - 🏆 98. / 63 Read more »
Stock Market Today: What to WatchStock futures waver and benchmark Treasury yields continue to gain ahead of Wednesday's Federal Reserve policy meeting. Follow our full market coverage. Couple of months ago I came across a recommendation about blakescott462 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation Please be our voice! Mahsa_Amini, the 22yo who was arrested and beaten by the “Islamic Moral Security Gestapo” of Iran ‘s Islamic Republic, passed away a few hours ago. She was in a coma after being beaten by Police . She was arrested for “improper hijab!” مهسا_امینی
Source: WSJ - 🏆 98. / 63 Read more »
Wall Street drops 1% with focus on Fed By Reuters⚠️BREAKING: *U.S. STOCKS TUMBLE AS WALL STREET BRACES FOR SUPERSIZED FED RATE HIKE - 🇺🇸 🇺🇸 Omg it’s happening 🖕🏾 What To Expect from the Federal Reserve Meeting of Sept. 20th & 21st:
Source: Investingcom - 🏆 450. / 53 Read more »
Why stock-market investors fear a full percentage point Fed rate hike would 'unnerve' Wall StreetSome on Wall Street believe investors are underestimating the possibility that the Fed might deliver a surprise 100 basis-point interest rate hike at the... Don't give a DAMN about unnerving markets. Have to get Biden inflation under control yesterday
Source: MarketWatch - 🏆 3. / 97 Read more »