This week in ESG
This week brought a mixed bag for clean energy and climate action - wind projects hit headwinds, but major markets are ramping up long-term sustainability efforts.
Key highlights
🍃 Offshore windfarm setback in the UK - Danish renewable energy provider Ørsted has cancelled a major project off the Yorkshire coast, blaming huge cost increases throughout their supply chain.
👍 US wind gets a lifeline - the White House has reversed its decision to halt an offshore windfarm near New York, giving the Equinor-led project - and the wider industry - a welcome boost.
🌍 Millennials and Gen Z demand sustainable jobs - according to Deloitte’s 2025 Gen Z and Millennial Survey, over 70% of young workers say environmental sustainability plays a key role in their choice of employer.
🚆 New York commits $1bn to go green - the state’s latest budget includes capital allocations to climate investments, with funding to cut building emissions and speed up the shift to electric transport.
💰 India maps out climate finance guidance - India’s ministry of Finance announced a framework for a Climate Finance Taxonomy to help support its transition to net zero and avoid greenwashing.
Chart spotlight - most consumers want a say in responsible investment
Participants were asked...
"Do you think that it's important to be asked whether you wish to invest responsibly when selecting your pension and/or when receiving financial advice?"
Source: 2024 FCA Financial Lives Survey
A new FCA survey of almost 18,000 UK consumers reveals a clear trend: adults with investments or a Defined Contribution (DC) pension wanted to be asked about investing responsibly.
Why this matters
Despite some global pushback around sustainability - boosted by Trump’s return to power - the FCA’s new survey shows strong ongoing interest here in the UK. Consumers are keen to align their pensions and investments with their values, and they want advisers to raise the topic.
The same survey also highlighted:
- 54% of respondents were interested in responsible investing
- yet only 18% have done so – largely due to lack of knowledge
Here at Parmenion we remain firmly committed to sustainability and its growing importance. This is reflected in both through our dedicated product range and at a house level, where we’ve set a Net Zero by 2040 target.
As part of that commitment, we’ve recently added 5 new funds to our active ESG portfolios, improving the options available to advisers and clients who want their investments to reflect their values.
Read more: Parmenion adds five funds to ESG portfolios | Portfolio Adviser
We’re always here to provide guidance and support to help you navigate this evolving area with confidence.
This article is for financial professionals only. Any information contained within is of a general nature and should not be construed as a form of personal recommendation or financial advice. Nor is the information to be considered an offer or solicitation to deal in any financial instrument or to engage in any investment service or activity.
Parmenion accepts no duty of care or liability for loss arising from any person acting, or refraining from acting, as a result of any information contained within this article. All investment carries risk. The value of investments, and the income from them, can go down as well as up and investors may get back less than they put in. Past performance is not a reliable indicator of future returns.
