Ben Caldecott, Director of the Oxford Sustainable Finance Group, speaks to Bloomberg Green about the Glasgow Financial Alliance for Net Zero (GFANZ).

The UK Centre for Greening Finance and Investment and the Oxford Sustainable Law Programme are set to launch a new workstream pinpointing what climate-related legal risk means in financial terms for companies. Dr Thom Wetzer told RI, 'It's clear that litigation risk is real - it's not some figment of an activist's imagination.'

IPE covers the inaugural Oxford Sustainable Finance Summit 2022, hosted by Dr Ben Caldecott. This in-depth article highlights insights from a myriad of speakers including from the United Nations, Blackrock, MSF, Saïd Business School, Linklaters and more. 

Making carbon markets work better is more of a political challenge than an economic one... The difficulty is building and preserving support for measures that make most economic activities costlier. The same applies to other climate-friendly measures, notes Dr Ben Caldecott of Oxford University: Britain has long failed to raise petrol taxes in line with inflation, costing the government billions.

The overhaul of the global energy system may represent the single biggest investment opportunity in history, reports the Financial Times.

However, as the energy transition becomes more urgent, responsible investors need to think less about these ratings and more about outcomes, says Dr Ben Caldecott.

“What do ESG scores tell us about anything?” he asks. “They are mainly measuring processes and policies — if a company has a policy in place against deforestation it will get a good score, even if it is deforesting.”