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This is the assessment of Eric Usher, Head of the UN Environment Programme Finance Initiative (UNEP FI) which brings together the United Nations and the financial sector to develop responsible investment agendas. Fancy writes: “To fix our system and curb a growing [greenwashing] disaster, we need government to fix the rules.”.
The arrival of the Taskforce on Nature-related Financial Disclosures (TNFD) was announced as early as July 2020. The World Economic Forum estimated its monetary value in 2018 to be equivalent to an estimated US$125 trillion worth of economic, natural and social capital. What is the TNFD?
Taxonomies define economic activities aligned with sustainability goals across multiple sectors and provide guidance to corporates and investors with an aim to mitigate greenwashing. The EU Taxonomy was among the first such tools, with its governing Regulation entering into force on 12 July 2020.
Stronger wording might have been possible, but this was a big step in the right direction,” said Remco Fischer, Climate Lead, UN Environment Programme Finance Initiative (UNEP FI). That’s something that the markets and the investors need to navigate,” says UNEP FI’s Fischer. C in realistic reach.
A 2020 World Bank report estimated the production of minerals, such as graphite, lithium and cobalt, will need to increase by nearly 500% by 2050 – the equivalent of nearly three billion tonnes – to fulfil sufficient upscaling of clean energy technologies and energy storage solutions. in 2020, and now 7.2% in 2018, to 8.6%
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