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Meanwhile, Bloomberg Intelligence reported that “oil companies are finding it increasingly difficult to raise financing amid rising environmental, social and governance (ESG) concerns, while banks are under pressure from their own investors to reduce or eliminate fossil-fuel financing.”.
Banking association AFME’s response, detailed below, raised similar concerns. The European Financial Reporting Advisory Group (EFRAG) was mandated by the European Commission in June 2020 to prepare for new EU sustainability reporting standards, and in November 2022, EFRAG submitted its final ESRS draft.
“Investors and companies are increasingly setting climate and nature targets, but once those are in place, they need to be thinking more about how to redirect capital [in line with these goals],” Ivo Mulder , Head of the Climate Finance Unit at the UN Environment Programme (UNEP), told ESG Investor. trillion in 2022.
This is well below the US$387 billion a year that developing countries need, according to the United Nations Environment Programme (UNEP)’s Adaptation Gap Report. One of the ways to increase funding, according to UNEP, is for the Loss and Damage Fund to move toward more innovative financing mechanisms. MDBs provided about US$5.5
ESG Investor’s weekly round-up of news on technology and tools in the sustainable investing sector, including UNEP FI, ISS ESG, ISSB, Xpansiv and Carbon Trust. The post This Week’s Tech and Tools News: UNEP FI Issues Oceans Toolkit for Investors appeared first on ESG Investor.
On June 30, 2022, the World Bank’s Board of Executive Directors approved the establishment of a Pandemic Prevention, Preparedness and Response Financial Intermediary Fund (FIF) to focus on critical investments in low and middle-income countries, regions, and beyond, in order to strengthen pandemic prevention, preparedness and response (PPR).
Sustainable finance, until recently still a niche activity, is now a mainstream strategic consideration for banks, asset managers and insurers. Usher says asset managers are not alone; many members of the Net Zero Banking Alliance have taken a similar view, choosing to side with management on climate for the time being. Race to zero.
According to the UN Environment Programme – Finance Initiative (UNEP FI), the finance sector has ground to make up too, albeit at least some of the responsibility for this also sits with governments. Private sector investment in nature had swollen to US$102 billion by May 2024, an eleven-fold increase on May 2022, apparently.
Alliance extends net zero targets to capital markets activities, as frameworks provide more tailored approach for banks’ transition strategies. The second of the four guidelines requires banks to establish an emissions baseline and annually measure and report the emissions profile of loans and investments. billion from Barclays.
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. MAPFRE joined the alliance in April 2022.
trillion globally, according to the World Bank from a mere US$15 billion in 2013. Between 2018 and 2022, 26 blue bond transactions took place , amounting to a total value of US$5 billion, with a 92% compound annual growth rate between those years. As of January 2023, green bonds had raised US$2.5
“Our strong new climate risk standard gives regulators powerful new tools to protect consumers and our planet,” said California Insurance Commissioner Ricardo Lara , co-chair of the bipartisan NAIC Climate and Resiliency Task Force that adopted the TCFD standard in 2022. insurance market, which is the largest in the world.
In 2022, WWF commissioned an independent analysis of the critical minerals needed to support the climate transition. The report forecast that demand for these materials can be reduced by 58% between 2022-50 by utilising new technologies, circular economy models and recycling.
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. In 2022 the global waste-management market was valued at US$1.3 It’s very much driven by UN SDGs and the UNEP priorities,” Mollin explained.
The UN Environment Programme’s (UNEP) 2023 ‘ State of Finance for Nature ’ report suggested that investments in nature-based solutions (NbS) to date have been underwhelming. Worse even: almost US$7 trillion are invested globally each year in activities that have a negative impact on nature – the equivalent to 7% of the global GDP.
The topic was a focus of high-level talks during COP28’s Finance Day with former Brazil premier Dilma Roussef, President of New Development Bank, talking about the importance of deepening local currency capital markets to lower the cost of capital for organisations on the ground.
The 2050 review and LEDS subsequently enabled the revised emissions targets for 2030 in June 2022. Operating globally as part of the Inogen Alliance delivers sustainable solutions to hundreds of leading industrial and non-industrial clients by helping them improve their environmental performance.
Jam open the closing window – The UN Environment Programme’s Emissions Gap Report 2022 was the most sobering of the many pre-COP27 analyses published this week, highlighting the inadequacy of our efforts to tackle the causes of climate change. Current pledges will nudge global warming down from its present 2.8°C C course to 2.5°C
SDSN will be hosting and participating in a variety of events alongside COP27. Below are the details of those events. CEET’s objective is to promote and highlight Egypt’s major theme: “Getting to implementation”, through a first-time in history, engineer-led and co-designed decarbonization forum.
In July, major insurers Hannover Re, Zurich Insurance Group, Vienna Insurance Group, joined Swiss Re in excluding DSM from their underwriting portfolios. The European Investment Bank has also classified DSM projects as unacceptable due to climate and environmental concerns.
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). trillion in 2022. That’s something that the markets and the investors need to navigate,” says UNEP FI’s Fischer. C in realistic reach.
In 2022, CDP saw participation from more than 18,600 companies disclosing their data on climate, with nearly 4,000 contributing data on water security, and over 1,000 on forest-related matters.
The UN Environment Programme (UNEP) says: “This vulnerability is driven by the prevailing low levels of socioeconomic growth in the continent. UNEP wants to see more investment diverted towards supporting African countries in meeting their nationally determined contributions (NDCs). This is the case in Africa.”.
billion in 2024, as companies transition from venture capital to bank loans and other funding sources ( Net Zero Insights ). Adaptation finance represents just 10% of global climate finance ( UNEP ), while investments in nature-based solutions and biodiversity remain underfunded despite their crucial role in combating climate change.
US-based Rivian Automotive cancelled its proposed 20% price hike for existing reservations in early 2022 following backlash from customers. Tackling the tailback With governments’ 2035 phase-out deadline edging ever closer, EV transition efforts may stall in the face of rapidly growing global demand.
As global temperatures rise, escalating climate-related risks, the volume of climate litigation cases has more than doubled in the past five years – from 884 in 2017 to 2,180 in 2022.
But it does have credit in the bank. “The With rising concerns that the landscape of net zero pledges and transition guidance is becoming overcrowded, the UNFCCC will be expected to prove the validity and need for its proposed framework over the coming months.
The series will continue in the first months of 2022 for Central Asia, Europe and Middle East (January 18th), Africa (March 10th), and the Americas (April 21st). Further work is planned in 2022 on financing the SDGs in SIDS. The work on SDG and SIDS was featured in op-eds and policy briefs.
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 March 2021, the Align project was also launched, led by the United Nation’s Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and funded by the European Commission. But investors choosing the path of inaction while they wait for relevant and comparable data from investee companies may be waiting a while.
SDSN is proud to have contributed to Chapter 6 "Transforming food systems" of UNEP's2022 Emissions Gap Report thanks to our FABLE Consortium scientific director Aline Mosnier. Mobilize central banks: central banks are increasingly interested in addressing the climate crisis, but more concrete action on regulations is needed.
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 first meeting is scheduled for November 2022. Delivering on the pledge could reduce warming by at least 0.2?C
A 2022 report from the World Bank estimated that the global health cost of mortality and morbidity caused by exposure to fine particulate matter air pollution in 2019 was $8.1 Source: The first global assessment of air quality legislation, UNEP. World Bank. trillion, equivalent to 6.1 European Environment Agency.
However, the question of where the money would come from remained open as the gavel went down in 2022. Despite developing countries having strongly pushed back on the US proposals that the World Bank should manage the fund, it was agreed that the World Bank will first administer the fund, but that this will be on a temporary basis.
Leading US banks and insurers will face votes at their upcoming AGMs asking for policies aligned with the International Energy Agency’s (IEA) net zero roadmap , after challenges to shareholder resolutions were rejected. . Regulator refuses requests for no-action relief against shareholder resolutions calling for IEA alignment. .
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