Knowledge and Insight

There was increased optimism in the global economic outlook in May, but potential taxes and service charges on EVs and hybrid vehicles threaten to slow the transition to lower-emissions vehicles, and state-funded subsidies for Chinese EVs are causing concern for US and EU producers.

In April, global legislation on plastic pollution drew a step nearer, while a study showed the extent to which nature degradation could damage the UK economy. Although concerns remain about housing and grocery prices in the US, Fed officials still anticipate three quarter-point cuts during the year.

Greenbank have recently joined the Business Coalition for a Global Plastics Treaty and signed the Finance Statement on Plastic Pollution, signalling our support for an international legally binding agreement to end plastic pollution. This follows our earlier engagement on the issue, collaborating with the Ellen MacArthur Foundation and as an endorser of the New Plastics Economy Global Commitment.

In this annual Engagement Review, we provide a snapshot of our activities in 2023 and outline our focus areas as we continue our work in 2024.

As Q1 ended and data from major economies suggested increasing overall resilience, equity markets posted solid monthly returns. Europe’s flagship Nature Restoration Law faced mounting pressures, the UK National Standards Body launched a consultation for a framework of overarching principles for UK nature markets, and the Council of the European Union finally voted through an agreed text for the Corporate Sustainability Due Diligence Directive.

A good month for most global equity markets. In the UK the mandatory Biodiversity Net Gain measure for developers aims for 10% net gain in biodiversity or habitat on new developments, and there’s good news about the UK net zero economy and the global adoption of TNFD reporting.

Natural navigators learn to read the sun, moon, stars, weather, land, sea, plant and animals. In his latest book, How to Read a Tree, Tristan explains the simple principles that explain the shapes and patterns you can see in trees and what they mean.

Greenbank’s 27th annual Investor Day ‘Water under pressure’ focused on risks and opportunities in a water scarce future.

The start of the year saw optimism around the US economy contrast with pessimism in the UK, and weak growth forecasts for Europe. Transformations through artificial intelligence have raised opportunities and concerns, and renewable energy capacity has set new records.

Assessing animal welfare in our food systems and the role of alternative proteins as a potential solution.

Greenbank’s 2024 action plan highlights our programme of thematic engagement, which is closely linked to our eight sustainable development themes. We also operate an ongoing programme of tactical engagement with the companies in which we invest.

Deputy head of Greenbank Nicola Day summarises the key points and actions from COP28, held in December 2023 in Dubai, UAE.