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
Greater scope and depth needed to keep pace with demand for more holistic approaches to climate risk management by banks and investors. The report is based on the practical user experience of almost 50 banks and investors using available climate risk management tools and includes 15 case studies.
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.”. These developments are critical.
In particular, it enables banks to estimate emissions for large portfolios of companies where data is scarce in support of EBA Pillar 3 reporting. The new, sector-based data set enables users to estimate emissions for non-listed companies, small and medium enterprises, and other alternative investments.
The UN Environment Programme Finance Initiative’s (UNEP FI) has opened a new risk centre centralising its resources on climate and nature risks, aiming to help members better identify and manage the ones that are financially material. In addition, a knowledge hub will share resources on assessing risks. “By
” The latest Food Waste Index Report (2024) , compiled by the United Nations Environment Programme (UNEP) and co-authored by WRAP, found that the world wastes over a billion tonnes of food – one fifth of all food available to consumers at the retail, food service and household level annually.
Nature-related assessment and disclosure frameworks and standards pay insufficient attention to oceans, Romie Goedicke, Co-head of Nature at United Nations Environment Programme – Finance Initiative (UNEP FI) has said, following the release of a comparative study. Around a third are taking action on nature today.
Among market-led developments, the Institutional Investors Group on Climate Change finalized its guidance on climate solutions , while several firms predicted the emergence of financial products, including exchange-traded funds, that claim to address the physical risks of climate change. MDBs provided about US$5.5
The Science Based Targets initiative ’s (SBTi) much-anticipated Financial Institutions Net Zero (FINZ) standard is expected to place banks under more pressure to increase their climate-related transparency and ambition. Process metrics weigh controllable actions that an organisation can undertake achieve an outcome.
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. Carbon Trust says the platform will be further developed to support companies with carbon footprinting, target setting and value chain analysis.
The United Nations Environment Program (UNEP) is working to develop an international legally binding agreement to address plastic pollution and the INC process is the vehicle used to negotiate and deliver such an agreement.
The race among AstraZeneca, Moderna and Pfizer to develop a COVID-19 vaccine perfectly exemplifies the difficulty of satisfying the needs of each stakeholder group simultaneously. Indeed, sustainable finance veteran Paul Watchman (an advisor to UNEP FI) argues "the concept of fiduciary duty is organic, not static.
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 have been some delays in the calendar, but that means there has been much more engagement with different actors around developing the (GBF).
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 investor-led initiative will be advised by UNEP and is backed by the Archbishop of Canterbury, Archbishop of Cape Town and the UN-convened Principles for Responsible Investment (PRI).
CEET members convened at the Africa Climate Week to discuss low carbon energy and green technology pathways for economic development in Africa. Every year, RCWs will be held across the regions of Africa, Latin America and the Caribbean, Asia-Pacific and the Middle East and Northern Africa.
Blended finance vehicles can help asset owners achieve impact in emerging markets and developing economies. . Given that impact investments are made with the intention to generate positive, measurable social and environmental impact alongside financial returns, developing markets are target regions.” .
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 climate change. Mitigation Work Program’ Development. SOURCE: Inogen Alliance. Loss and Damage’ Fund Agreement. Loss and damage, 22.
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.
Scientists at the UN Environment Programme (UNEP) have now warned in a new report that many more “reservoirs of ancient, mostly uncharacterised microorganisms and viruses” could be lurking under the tundra – which is warming at four times the global average. Some of the identified risks are, unsurprisingly, environmental.
trillion globally, according to the World Bank from a mere US$15 billion in 2013. She adds that, this is why ICMA partnered with other organisations such as the IFC and UNEP FI, “because they all have their own specific guidance for blue ….we As of January 2023, green bonds had raised US$2.5 What are the notable blue bond issuances?
Romie Goedicke, Associate Lead of the Nature Programme at the UNEP Finance Initiative, outlines how a recent pilot project has helped financial institutions to better align with the goals of the Global Biodiversity Framework.
But these solutions and approaches are still being developed, meaning many risk interaction effects and tipping points not necessarily being captured. The report said that FIs are realising the importance of integrating climate-related risks, with the risks being divided primarily into physical and transition risks.
This is according to Dr Nicola Ranger, Head of the Resilience and Development Programme at the University of Oxford’s Environmental Change Institute (ECI). 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.
Developed countries have also been asked to prepare a report on doubling by COP29. UNEP FI estimates the current adaptation finance gap is around US$194-366 billion per year, and positively, Climate Policy Initiative (CPI) found last month that adaptation finance had reached an all-time high of US$63 billion, growing 28% from 2019/20.
WORK PERIOD: July 1, 2023 – December 31, 2023 (possibility to renew) TITLE THIS POSITION REPORTS TO: Emma Torres, VP Americas, SDSN BACKGROUND The UN Sustainable Development Solutions Network (SDSN) has been operating since 2012 under the auspices of the UN Secretary-General. with InterAmerican Development, CAF, FEBRABAN).
The COP28 outcomes on adaptation and loss and damage will aim to advance real action towards building resilience and contributing to sustainable development, including by driving enhanced adaptation finance,” he says. Sultan Ahmed Al Jaber is bullish on the impact of this year’s conference. But will the outcomes match the rhetoric?
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. It’s very much driven by UN SDGs and the UNEP priorities,” Mollin explained. billion tonnes. The economic cost is also substantial.
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.” .
Financial institutions still don’t have expertise to handle net zero 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 net zero transition.
WWF International’s Battle says that scientists are only just beginning to understand the systems and processes that allow life to thrive in the deep ocean, and how it helps to regulate the climate. “This lack of scientific knowledge means we cannot possibly develop informed regulations for this new industry,” Battle notes.
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. For industry and transport, zero emission technology needs to be further developed and deployed. C in place. C in place.
Key takeaways from the event include: Tackling Barriers for Electric Vehicles (EVs): Cesar Vargas of DevelopmentBank of Latin America (CAF) highlighted two major barriers to scaling up electric vehicles in the LAC region: high initial costs and the need to create a supportive ecosystem.
But as much as private sector wealth and influence have been a cause of the sickness, multilateral developmentbanks are resolute that they are also the cure. Fast action Public sector banks around the world are pivoting to climate finance and the unifying message is a need for speed.
Earlier this month, the UN Environment Programme (UNEP) published its 2023 ‘ Adaptation Gap Report ’, which highlighted that EMDEs’ forecast climate adaptation finance needs are now ten to 18 times larger than existing international public flows.
The future of his Glasgow Financial Alliance for Net Zero was in question after media reports that major US banks were threatening to quit rather than accept legal risks that might arise from tougher membership rules. You shouldn’t be an international development banker either, said former UNFCCC head Cristiana Figueres.
New framework outlines targets for institutional investors to take decisive action on nature risks and impacts. We hope this framework will help our signatories and other investors to set nature targets,” added de Horde.
By treaty, the ISA is tasked with ensuring the equitable distribution of benefits from DSM, especially to developing countries. In an appendix on relevant guidelines and reporting standards, the handbook does not list the UNEP FI report, the ICMA guidance, or the UNCTAD classification.
As World Bank President Ajay Banga recently put it : we need “a greater appetite for risk, meaningful private sector financing, and […] a sense of urgency” to meet the challenges facing the world. Addressing system-level risks and considering climate goals is not only permitted but may be required by existing investor duties and obligations.
Financial institutions need to segment their portfolios into transition, net zero-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 Net Zero (GFANZ). Heading for the exit? Greater accountability.
The organisations concerned are Dutch bank Rabobank, Mexican development institution FIRA, multilateral funder the Global Environment Facility (GEF), Mauritian private equity group Phatisa, Norwegian chemical company Yara, US asset manager Nuveen Natural Capital and Dutch group Signature Agri Investments.
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.”. Growing economies.
As well as echoing UN Climate Change’s assessment that nationally determined contributions needed significant strengthening, the UNEP report said the financial system “must overcome internal and external constraints” to become a critical enabler, putting the annual investment needed for a global transition to a low-carbon economy at US$4-6 trillion.
” A framework for nature The TNFD recommendations and a suite of additional implementation guidance were developed from a two-year consultative process, including pilot testing by over 200 companies and financial institutions.
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