This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Climate risk tools available to financial institutions suffer from shortcomings in data inputs and scope, despite recent consolidation and technology innovation, according to a new report by the UN Environment Programme Finance Initiative (UNEP FI).
It’s hard for an oil giant to ignore: in 2021, Shell labelled fossil fuel divestment campaigns a “material risk.” C above pre-industrial levels, according to the United Nations Environment Programme (UNEP). Second, wind down production of existing fossil fuel stockpiles at the needed 5% annually, as per UNEP.
According to global consulting firm McKinsey , helping higher-emission industries and economies pivot to a lower-carbon economy would involve spending US$275 trillion on physical assets for energy and land-use systems between 2021 and 2050. C using the NetZero 2050 scenario from the Network for Greening the Financial System.
Jessica Smith, Nature Lead at the UNEP FI, says it’s time for biodiversity to take its place alongside climate in investor priorities. There have been trillions of dollars committed to climate change as part of the Global Financial Alliance to NetZero ; now we want to recreate that commitment and momentum for biodiversity.”.
Alliance extends netzero targets to capital markets activities, as frameworks provide more tailored approach for banks’ transition strategies. Founded in April 2021 by UNEP FI, the NZBA has 143 members overseeing US$74 trillion in capital. As both thresholds were “comfortably cleared”.
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.
Financial institutions still don’t have expertise to handle netzero transition, according UNEP FI-backed report. The 12-month programme launch follows increasing demand from asset owners and managers for resources and qualifications that will help them develop the relevant skills for managing the netzero transition.
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. The 2021 Networks in Action report, launched in November, features all the major accomplishments of these national, regional and thematic networks.
Financial institutions need to segment their portfolios into transition, netzero-aligned and stranded assets and develop clear emissions reduction plans in line with recognised 2030 and 2050 targets, said Mark Carney, Founder and Co-chair of the Glasgow Financial Alliance for NetZero (GFANZ). Heading for the exit?
Indoor air quality and the energy cost of buildings High indoor CO₂ and VOC levels are increasingly linked to cognitive impairment, with a 2021 Harvard study showing that even moderate increases in indoor CO₂ can slow response times by 1.4-1.8% and reduce accuracy by up to 2.4% on cognitive tasks.
In 2021, global EV sales more than doubled to 6.6 In 2021, global EV sales more than doubled to 6.6 China made up a huge portion of these sales, almost tripling sales volumes in 2021 to reach 3.4 It is working to address these systemic environmental and social risks and ensure a just transition to netzero.
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. billion in 2021 to $45.6 billion in 2024, as companies transition from venture capital to bank loans and other funding sources ( NetZero Insights ).
SDSN is proud to have contributed to Chapter 6 "Transforming food systems" of UNEP's 2022 Emissions Gap Report thanks to our FABLE Consortium scientific director Aline Mosnier. In the best-case scenario, full implementation of unconditional NDCs and additional net-zero emissions commitments point to only a 1.8°C C in place.
Because of their multiple benefits, investments in NbS would represent “good value for money” at a time of global macroeconomic uncertainty, said Ivo Mulder, Head of the Climate Finance Unit at the UN Environment Programme (UNEP). . Where finance flows, action follows,” she said, adding: “Where finance flows lag, commitments wither.” .
Climate adaptation finance is also important for risk management of netzero assets, according to the UK’s Green Finance Institute. With adaptation finance flows remaining dangerously low to meet climate goals, has COP28 made a difference?
New Climate Bonds Initiative report highlights growth in GSS bond issuance in 2021. . Latin America accounted for 15% of sovereign GSS issuance in 2021, compared with 8% from Asia-Pacific and 1% from Africa. . In 2021, the 11 issuers that priced sovereign sustainability bonds were EMs, Climate Bonds said. . Looking ahead .
C of global warming, 50% of all existing buildings need to be netzero by 2040, increasing to 85% by 2050, according to the International Energy Agency. Analysing 340 residential and commercial real estate assets globally, CRREM found only a few were aligned to netzero. .
The FfB Foundation was set up in March 2021 after the launch of the FfB Pledge in the previous year, which currently has 153 signatories across 24 countries with a collective US$22.6 trillion in AUM.
Despite the precariousness of the pathway to netzero, COP26 generated a renewed sense of urgency and optimism as to how to support emerging markets and deal with heavy greenhouse gas emitters. Subsidies for the production and consumption of coal, oil and natural gas was already increasing in 2021 before the invasion of Ukraine.
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. ISS ESG Issuer Level NetZero Alignment Data can be used to identify positive and negative performing companies against individual climate related metrics.
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 climate change, according to the 2021 Global Status Report for Buildings and Construction.
Current climate pledges by governments are falling short, with the latest analysis by the UN Environment Programme (UNEP) putting the world on track for a temperature rise of between 2.4°C To address the emissions gap and keep the 1.5°C There are ongoing discussions and decisions to clarify under Article 6.4
As the world experiences record global temperatures and greenhouse gas emissions, the latest Emissions Gap Report from the UN Environment Programme ( UNEP ) found that current pledges under the Paris Agreement put the world on track for a 2.5–2.9°C from 2021 to 2022, reaching a record 57.4 C above pre-industrial levels. For the 1.5°C
Despite this trend, commentators like Dan Carlin, UNEP FI’s Task Force on Climate-Related Financial Disclosures (TCFD) Program Lead, have made the case for further engagement with the fossil fuel industry. In fact, the total value of the institutions divesting is estimated to be US$40.5
In 2021, Fidelity International conducted 198 engagements (14% of total engagements for the year) related to nature, including biodiversity, waste management and water usage.
The proposed solution for netzero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. But there is still room for hope that netzero commitments – and subsequent progress on decarbonisation – can be transparent, aligned and ambitious.
C this century, according to the UN Environment Programme’s (UNEP) latest Emissions Gap Report 2021: The Heat Is On. Released ahead of the UN Climate Change Conference (COP26), the latest round of climate talks taking place in Glasgow, the report finds that netzero pledges could make a big difference.
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. For example, the NetZero Asset Owners Alliance is not led by sustainability teams, it’s typically CIOs who are driving it.”.
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.
“It was fascinating to see the wide range of innovative solutions each student team created when posed the same challenge: to design an IoT device that will help the world reach netzero,” said Jeff Harris, Vice President of Portfolio and Corporate Marketing at Keysight, who also served as a judge and co-sponsor of the Keysight Innovation Challenge.
F4B launched its netzero transition framework to help asset owners and other financial institutions adopt a fully integrated approach to climate and nature risks and impacts. There is an urgent need to approach the transition to both a net-zero and nature positive world in an integrated way.
Extreme climate-related events can reduce a property’s value by between 5-20%, according to the UN Environment Programme Finance Initiative (UNEP FI). Last year, UNEP FI published guidance outlining the kinds of resilient buildings needed to cope with new climate extremes.
The findings are based on an examination of nearly 500 publicly available insurance company responses to the National Association of Insurance Commissioners’ (NAIC) 2021 Climate Risk Disclosure Survey, which implemented Task Force on Climate-related Financial Disclosures (TCFD) recommendations for the first time. ET Thursday, July 27.
In a personal response , Fixler – who said the main drivers of greenwashing included weak corporate governance and culture, and lack of incentives tied to sustainability – expressed disappointment that no one from the ESAs had reached out or engaged with her on the DWS incident or on greenwashing in general.
Analysis from the United Nations Environment Program (UNEP) concludes that a 45% reduction in global methane emissions by 2030 is essential to limiting global warming to 1.5 In addition to being a potent GHG, methane is the primary contributor to ground-level ozone. Why is reducing methane emissions so important to climate change mitigation?
As of 1 July 2020, the number of cases had nearly doubled, with at least 1,550 climate change cases filed in 38 countries, according to the UNEP Global Climate Litigation Report. In 2017, there were 884 cases brought in 24 countries. As of January 2022, 1,853 cases have been reported.
billion respectively in 2021, according to data from PitchBook, a provider of data and research on private and public capital markets. In September 2021, Oatly was trading at 20x trailing twelve months (TTM) revenue. Global deal values in agtech and foodtech reached US$11.7 billion and US$41.4
The NZIA was launched in 2021 by eight insurance and reinsurance companies – including AXA, Allianz and Scor as founding members – and by early 2023 grew to nearly 30 members representing approximately 15% of global premium volume. The post Insurers Exit NetZero Insurance Alliance as U.S.
C is rapidly falling out of reach , despite the fact most netzero commitments set by governments, investors and companies target a 1.5°C Science journal Nature surveyed scientists in 2021, with 60% of the 92 respondents predicting global warming will reach 3°C by the end of the century. C temperature pathway. C at best.
Spanish insurance company MAPFRE announced today that it has decided to discontinue its membership in in the Net-Zero Insurance Alliance (NZIA), marking the latest in a string of major insurers exiting the UN Environment Program (UNEP)-backed climate action-focused industry group.
In 2005, a group of investment managers organised under the UN Environment Programme Finance Initiative (UNEP FI) commissioned law firm Freshfields Bruckhaus Deringer to publish a report , ‘A Legal Framework for the Integration of ESG Issues into Institutional Investment’. How does fiduciary duty relate to sustainable investment?
The Central Bank of Azerbaijan (CBA) launched a taxonomy standardisation initiative, and in summarising the outcomes of COP29, the United Nations Environment Programme Finance Initiative (UNEP FI) noted the agreement on an urgent need to scale adaptation finance, using concessional finance, metrics and taxonomies in mobilising private investment.
Just prior to COP26, the UN Environment Programme (UNEP) launched the International Methane Emissions Observatory (IMEO) to improve the accuracy and public transparency of human-caused methane emissions. The signatories recognised that rapid action on methane is an essential complement to cuts in CO2 and other greenhouse gases (GHGs).
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. million metric tonnes of CO2 within their roots, trunks and soil every year, according to the United Nations Environment Programme (UNEP).
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content