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“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.
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.
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.
Jessica Smith, Nature Lead at the UNEP FI, says it’s time for biodiversity to take its place alongside climate in investor priorities. of the ParisAgreement on Climate Change. “We UNEP FI is going to play a big role in in the year ahead in the piloting programmes to work out what this will look like.”.
Serving as a negotiator to the series of Climate Change COP events since COP21 (2015) where the ParisAgreement was adopted, Dr Abdel-Aziz provided the Alliance with exclusive insight into this year’s landmark developments and future prospects. Human activity is overloading the natural carbon cycle.
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. of emissions.
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.
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. No denying it – Not everyone in New York was pulling in the same direction. But not his attitude to business.
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.
COP28 represents a critical, and perhaps the last opportunity for Parties and non-state actors to deliver on the ambitions of the ParisAgreement to limit global average temperature increase to 1.5°C But this is not widely recognised.
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 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.”. Increasing concern.
Ahead of the conference, the data had been collected and analysed, with assessments delivered on the effectiveness of actions taken to date, primarily in the form of signatories’ nationally determined contributions (NDCs) to the ParisAgreement. The official verdict was clear. C of climate change by 2100. C in realistic reach.
“This year showed that climate change is an immediate direct threat to every community on this planet, and it is only going to intensify,” said Inger Andersen, Executive Director of UNEP. This number has now hit 136, although ambition varies.
The Net Zero Banking Alliance (NZBA) has faced similar pressure, with six of its US members subpoenaed by state attorneys-general on the grounds of their participation in the alliance.
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?
Banks and other financial intuitions (FIs) have the potential to help transition land-use to become ‘nature positive’ in addition to ‘net zero’, by redirecting investment to sustainable land-use projects. Of the 51 climate-focused funds, representing US$30 billion AUM, only 10% were Paris aligned. Mainstream institutions.
Amazon Sustainable Landscapes Program – Connecting people and institutions to connect landscapes and avoid tipping points November 16, 2022 | 13:00 - 15:00 EET GEF/World Bank Pavilion (Blue Zone) or watch the livestream here. These policy papers demonstrate the feasibility of sustainable pathways to combat the risks of the tipping point.
Further, a recent report by the UN Environment Programme (UNEP) and the Sabin Center for Climate Change Law at Columbia University, showed that climate litigation is becoming an integral part of securing climate action and justice.
But it does have credit in the bank. “The The UN does a good job of accounting for different governmental interests through a structured forum and ultimately producing joint agreements,” Thomae says.
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).
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. This lack of progress leaves the world hurtling towards a temperature rise far above the ParisAgreement goal of well below 2°C, preferably 1.5°C.
COP28 has been buffeted by controversy since the United Arab Emirates (UAE) was announced as host, with concerns that the country’s fossil fuel interests would jeopardise the meagre progress made since the ParisAgreement. Some initial agreements were made in the November pre-negotiations in Abu Dhabi. C of warming.
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