ESG TAKE AWAY – 16.11.20

Local News

* For the first time in Israel, the Tel – Aviv Stock Exchange has launched a Green Index version of the TA- 125 Index that Will Comprise Shares that Are Included in TA-125 Index, Excluding Those of Corporations Involved in the Production Chain of Fossil Fuels. The new index is expected to include 112 sahres with a market value of approximately NIS 545 billion , and according to the stock exchange, the Green protfolio outperformed the yields of the TA-125 index for a period of one year, 3 years and 5 years. Read more:

Global News

* UK’s Chancellor of the Exchequer Rishi Sunak made several significant sustainable finance announcements, including making the UK the first country in the world to mandate economy wide disclosures in line with the Task Force on Climate-related Financial Disclosures (TCFD). The Chancellor also stated that the UK will issue its first ever sovereign green bond, and will implement a green taxonomy. Read more:–mandatory-TCFD-disclosures/


*The European Investment Bank (EIB) Board of Directors announced that it has approved the EIB Group Climate Bank Roadmap 2021-2025. The roadmap aims to guide future climate action financing by the EIB and European Investment Fund (EIF), supporting €1 trillion of climate and environmental sustainability investments by 2030, and to align all financing activities with the principles and goals of the Paris climate agreement by the end of 2020.Read more:

*The Association of European Development Finance Institutions which has a combined $50bn under management in emerging and frontier markets, has announced that its 15 members will phase out fossil fuel investments by 2030. The group of publicly-owned institutions said it will align all new financing decisions with the objectives of the Paris Agreement by 2022 and will ensure that their portfolios achieve net zero emissions by 2050 at the latest. The EDFI group will immediately cease new coal or fuel oil financing and will limit other fossil fuels. The new commitment includes direct investments, indirect investments made through other funds and dedicated lending via financial institutions.Read more:

*San Francisco voters have approved the introduction of a new tax on companies with overpaid executives, a measure which is expected to raise between $60m and $140m annually. According to reports, the new law adds a 0.1% surcharge onto the annual tax bill of firms that pay their executives more than 100 times the salary of their median worker. Read more: