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Fri, 03/12/2021 - 01:30. billion to the scheme before moving to introduce a new budget for 2021/22 of just $448 million. ClimateChange. billion of COVID recovery funds have been spent on green energy as of early 2021, of which $25.3 Cecilia Keating. Of the $14.6 Meanwhile, the report reveals that $56.3
We cannot win the fight against climatechange without addressing nature loss.?. While a company’s biodiversity strategy is being fully developed and science-based targets confirmed, we advocate a no-regrets approach , as defined by the UNDP, UNEP and IUCN and expressed by the Science Based Targets Network.
July 25, 2023 /3BL/ - A new report released today by the Ceres Accelerator for Sustainable Capital Markets and the California Department of Insurance reveals that insurance companies are pursuing a wide variety of strategies to manage the increasing risks associated with climatechange. Climate Risk Management in the U.S.
Methane is a primary component in natural gas and a contributor to climatechange. Why is reducing methane emissions so important to climatechange mitigation? This powerful warming effect causes experts to believe that cutting methane emissions is critical to mitigating climatechange. infrastructure.
Investors are warming to opportunities stemming from climatechange, and other takeaways from COP28. COP28, the latest United Nations Conference of the Parties on climatechange, delivered mixed results on some key agenda items but provided new insights into climate-related opportunities and the initiatives needed to implement them.
Jessica Smith, Nature Lead at the UNEP FI, says it’s time for biodiversity to take its place alongside climate in investor priorities. Smith says there needs more understanding of the progress already made aligning finance with climate risk, which is set out in Article 2.1c of the Paris Agreement on ClimateChange. “We
DESCRIPTION: The 27th United Nations (UN) Conference of the Parties (COP), which took place this November in Sharm El Sheikh, Egypt, marked a significant milestone in developing action against climatechange. Climatechange inequality, contributors and sufferers, has been a key agenda item at COP for many years.
New and updated climate commitments fall far short of what is needed to meet the goals of the Paris Agreement, leaving the world on track for a global temperature rise of at least 2.7°C C this century, according to the UN Environment Programme’s (UNEP) latest Emissions Gap Report 2021: The Heat Is On.
The Sector Standard for Coal enables comprehensive and comparable disclosure on: How companies respond to climatechange mitigation demands , as reflected in the Paris Agreement, including plans to transition away from coal mining. The first completed Sector Standard – for oil and gas – published in October 2021.
The global economy relies on the health of the ocean, says Dennis Fritsch, Project Coordinator, Sustainable Blue Economy Finance at the United Nations Environment Programme Finance Initiative (UNEP FI). UNEP FI is working towards integrating the use of sustainable finance practices in support of ocean health by the global financial community.
The number of litigation-arbitration climatechange related cases is on the rise. As of 1 July 2020, the number of cases had nearly doubled, with at least 1,550 climatechange cases filed in 38 countries, according to the UNEP Global Climate Litigation Report. Investor-state arbitration.
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. When it comes to government, Usher is also positive about the progress made in terms of climatechange policy, but he has caveats.
The UN Environment Programme’s (UNEP) 2023 Emissions Gap Report – aptly titled ‘Broken Record’ – clearly states that the world is a long way from limiting global warming to 1.5°C Adaptation bonds are among the potential vehicles for private investment, but policy action is still needed at COP28.
SDSN had a busy 2021 where a number of our networks, programs, and teams supported the progress towards achievement of the Sustainable Development Goals (SDGs) and the Paris Climate Agreement. SDG Academy The SDG Academy opened its second office in Kuala Lumpur, Malaysia in July 2021.
In the meantime, 80% of the world’s wastewater is returned to the environment untreated (UNEP, 2016). The UN University estimates that by 2030, there will be a 40% gap between water demand and availability.
The report was produced by the World Economic Forum, UN Environment Programme (UNEP), and the Economics of Land Degradation (ELD) Initiative hosted by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) in collaboration with Vivid Economics. That is equivalent to just over $25 per year for every citizen in 2021.
In 2021, the Cisco Foundation made a bold commitment to address the climate crisis, pledging $100 million over 10 years to fund innovative climate solutions. The climate tech investment landscape has experienced significant fluctuations over the past few years. Debt financing for climate tech soared from $13.9
Climatechange mitigation remains important, but the need to finance adaptation measures is becoming urgent, says Lindsey Stewart, Director of Investment Stewardship Research, Morningstar. “I I don’t believe in fairytales or sermons or stories about money, baby sister, but thank you for the cigarette.”
She replaces Elizabeth Maruma Mrema, who stepped down from the role in March due to the “growing demands of her responsibilities” as Deputy Executive Secretary of the UN Environment Programme (UNEP), the taskforce said.
As climatechange accelerates, the need to make buildings more sustainable, energy-efficient, and healthier has never been clearer. While many climate tech solutions focus on reducing outdoor emissions, there’s a growing recognition that indoor air quality is also a growing issue. and reduce accuracy by up to 2.4%
New Climate Bonds Initiative report highlights growth in GSS bond issuance in 2021. . The green, social and sustainability (GSS) debt could provide a key channel for investors to support adaptation in emerging markets countries, according to panellists speaking during a webinar hosted by the NGO Climate Bonds Initiative this week. .
Targeted investments are required to save our cities from the climate-related risks flagged by the IPCC. The effects of climatechange aren’t limited to distant ice caps. It’s therefore vital that cities are built or renovated to be more sustainable and resilient in the face of climatechange-induced extreme weather events.
Every year more than 2 billion tonnes of municipal solid waste (MSW) is produced across the planet, as shown in the UN Environment Programme’s (UNEP) Global Waste Management Outlook 2024. Launched in 2021, it is a multi-thematic Article 9 fund, meaning it has distinct sustainability objectives. billion tonnes.
With adaptation finance flows remaining dangerously low to meet climate goals, has COP28 made a difference? Developed countries have also been asked to prepare a report on doubling by COP29. billion fund.
The panelists built the case for adopting long-term integrated approaches that can help policymakers assess the trade-offs and synergies between short-term policies on agriculture, climate, diets, and biodiversity and mid-century sustainability targets.
Increased private sector funding seen as critical to acceleration of investments to meet climatechange, biodiversity and land degradation targets. . The report said delaying action “was no longer an option” in light of the impacts of climatechange, species extinction and land degradation. “
Less remarked has been the very large number of lobbyists in Dubai acting on behalf of oil and gas companies, the very organisations with a vested interest, one may have thought, in blunting whatever initiatives emerged to limit climatechange by reducing CO2 emissions. It now amounts to some 400 million tonnes per year.
Noting that the number of court cases being brought against companies on climate-related grounds has recently topped 2,000, the report says some plaintiffs are seeking to recover the costs of climatechange itself, or the expense caused by having to adapt to it. Resort to the courts. Vital role of non-execs.
NEW YORK , 16 September 2021 - The Council of Engineers for the Energy Transition (CEET) - an independent advisory council to the United Nations Secretary General - has been formally launched. The CEET will comprise 50 world-class engineers that reflect a balance of multi-stakeholder constituencies.
In late April, the UK High Court ruled that charity trustees can consider climatechange factors when making decisions over their investments, even if it means making lower returns. How are attitudes changing? How does fiduciary duty relate to sustainable investment?
Last year, UNEP FI issued a briefing paper for investors and other financial institutions which said “there is no foreseeable way in which the financing of [DSM] activities can be viewed as consistent with the Sustainable Blue Economy Finance Principles”. “Have we learned from our mistakes in the past?
C higher than in the pre-industrial era, the physical effects of climatechange have already started to materialize. ([1], Natural disasters have always occurred, but climatechange is making them more frequent and more intense. References: [1] IPCC, 2022: ClimateChange 2022: Impacts, Adaptation, and Vulnerability.
Further, a recent report by the UN Environment Programme (UNEP) and the Sabin Center for ClimateChange Law at Columbia University, showed that climate litigation is becoming an integral part of securing climate action and justice.
Equally, one cannot accurately assess nature-related risks without considering climate,” the report added. A number of nature-related issues caused by climatechange – such as desertification and ocean acidification – were recently highlighted in the latest report by the Intergovernmental Panel on ClimateChange (IPCC). “We
As negotiations unfolded at the Bonn ClimateChange Conference earlier this month, the politicisation of an existential and global threat was clear to see. What made negotiators’ incremental progress even more frustrating was that the squabbling was underpinned by the realities of a rapidly warming planet.
The Taskforce for Nature-related Financial Disclosure (TNFD) was founded in June 2021 to provide a framework for corporations and financial institutions to assess, manage and report on their dependencies and impacts on nature beyond climatechange.
The economic consequences of the COVID-19 pandemic caused CO2 emissions from buildings and construction to fall significantly in 2020, but a lack of real transformation in the sector means that emissions will keep rising and contribute to dangerous climatechange, according to the 2021 Global Status Report for Buildings and Construction.
It was carried out by the UN-supported worldwide body, Principles of Responsible Investment (PRI), the UN Environment Programme Finance Initiative and the Generation Foundation, which promotes an equitable world in which climatechange is confronted. But there is disagreement and a lack of clarity as to how those interests are defined.
In addition, institutions should have interim decarbonisation targets that are “consistent” with the 2030 target, set by the Intergovernmental Panel on ClimateChange , of reducing CO2 emissions by around 45% from 2010 levels. GFANZ was launched in April 2021 and has more than 500 members across its member alliances.
Voluntary carbon markets can direct climate finance to emerging markets, but risks persist despite reforms. . By the end of 2021, the value of voluntary carbon markets (VCMs) reached nearly US$2 billion, with around 500 million carbon credits traded throughout the year. Climate capital .
This expert group includes representatives from the UNEP World Conservation Monitoring Centre, standard setters EITI and SASB, and investment institutions FTSE Russell and S&P Global. More scrutiny is needed on the companies that remain in the coal sector, with accountability for their impacts.
If the aim of restricting climatechange to within the Paris-agreed 1.5°C Subsidies for the production and consumption of coal, oil and natural gas was already increasing in 2021 before the invasion of Ukraine. Potential for Paris-aligned gains to replace Russia-inflicted short-term pain at COP27.
In 2021, Fidelity International conducted 198 engagements (14% of total engagements for the year) related to nature, including biodiversity, waste management and water usage.
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