Daniel Flatt

Oct 24, 2023 | capitalmonitor.ai | Daniel Flatt

Bank CEOs still feel the need to bang the “climate change is real” drum. Are private banks doing enough to solve climate change together? Individual climate reports are valuable, but more bank collaboration is needed. When wishing to take the pulse of a market I find it useful to read the CEO letter of an annual report of a bellwether company within it – not necessarily for the substance, but certainly for the intent. Take ING, which recently published its 2023 Climate Report.

Oct 20, 2023 | capitalmonitor.ai | Daniel Flatt

The UK’s energy mix, long dominated by fossil fuels, is undergoing a rapid transition. In 1991, just 2 per cent of its electricity was generated using renewables. Today, the proportion stands at nearly half, with a record 47.8 per cent of the energy mix derived from low-carbon sources in the first quarter of 2023. It’s an encouraging trajectory, though we’re still a long way from net zero. The government has said it aims to shift all electricity generation to clean sources by 2035.

Aug 18, 2023 | capitalmonitor.ai | Daniel Flatt

S&P has decided to stop serving simple ESG scores linked to credit ratings analysis. The decision has been rejoiced by right-wing commentators as a victory. A credit rating is about ESG regardless. S&P’s decision does not change that. The recent announcement that S&P Global Ratings (S&P) would cease to use ESG scores to support investors in the management of their bond portfolios only after two years was seized upon by those seeking to “end ESG” with aplomb.

Aug 4, 2023 | capitalmonitor.ai | Daniel Flatt

The botched attempt to oust Nigel Farage as a client of Coutts raises important ethical issues, key to how to manage ESG effectively. Leaking misleading information to the press was unprofessional and justifies why CEO Dame Alison Rose had to resign. In an attempt to be inclusive, Coutts ended up looking just the opposite.

Jul 25, 2023 | capitalmonitor.ai | Daniel Flatt

A marginal political victory on a local issue is at risk of derailing Britain’s commitment to net zero. Prime Minister Rishi Sunak is fighting for his party’s survival and climate bashing could offer him a lifeline. Although he has expressed commitment to net zero, Sunak’s environmental voting tack record is poor. It was a small surplus of 495 votes that gave the British Conservative party a surprising by-election victory last week.