Virginia Furness

Goldman Sachs said it has quit a sector coalition aimed at aligning bank lending and investment activities with global efforts to fight climate change, becoming the most high-profile member to leave the group.

Debt swaps are becoming a more widely used tool to help indebted countries raise money for conservation or climate-related projects.

Barbados has completed what it calls the world's first 'debt-for-climate resilience' swap which will see it invest $165 million in water infrastructure, food security and environmental protection to help the Caribbean island adapt to the damaging effects of climate change.

BNP Paribas Asset Management will no longer invest in new bonds issued by companies involved in oil and gas exploration and production, according to a strategy update dated November.

The Bahamas has unlocked more than $120 million to fund the conservation and management of its oceans and mangroves with a debt swap financed by Standard Chartered and backed by the private sector.

Countries at the U.N. COP29 climate summit in Azerbaijan will attempt to agree rules for a global system for trading carbon offset credits.

Multilateral development banks are putting much more focus on investments to tackle climate change, the president of the European Bank for Reconstruction and Development said this week, amid worries about U.S. climate policy under a Trump administration.

El Salvador has sealed a new-style debt buyback deal where savings generated will be used to fund conservation of the country's main river and its watershed.

The European Union's securities watchdog is considering changes or clarification to incoming rules on the naming of sustainable investment funds, after investors warned they could make it harder for polluters to access cash they want to decarbonise.

The Lloyd's of London (SOLYD.UL) market is undermining climate action and should impose binding rules to prevent insurers supporting fossil fuel expansion, NGO Reclaim Finance said on Wednesday.