Ahead of the G7 leaders summit in Canada, investors with US$26 trillion in assets under management have put governments and companies on notice that they want more action on climate change.
ANZ has issued a 750-million-euro bond that will direct proceeds to projects that have environmental, social and economic benefits aligning with UN Sustainability Goals.
A major international pension fund has deemed Origin Energy uninvestable because it owns a coal-fired power plant, and the world's largest sovereign wealth fund has received official advice to reduce its oil and gas investments.
Climate change and pollution in leading economies has provided a wake-up call that financial institutions aren't paying enough attention to sustainability risks, according to Brian Cahill of ratings agency Moody's.