Khalid Azizuddin
Asset managers say the decision to exit was taken after extended engagement efforts.
At the same time, banks were also found to be 'highly exposed' to transition risk.
It follows a gradual broadening of the UN Guiding Principles to include the financial sector.
-80x80.jpg "GHG Protocol told to step in on facilitated emissions reporting")
The topic has drawn attention from regulators following the release of PCAF’s voluntary standard.
The minimum capital requirements for banks are also being reviewed for climate additions.
It comes as several managers told RI they are confused about the scope of the regulation, which was agreed last month.
Proposed regulatory changes would negatively impact asset managers who depend on benchmark provider data to meet SFDR requirements.
The latest setback comes after last week’s unsuccessful vote and efforts to ease corporate burdens.
It comes after efforts from the Singaporean central bank and GFANZ to encourage phase-out financing.
The scheme says it was not in favour of 'blanket exclusion' on fossil fuels.