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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.”.
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
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.
A new ENCORE biodiversity module by the Natural Capital Finance Alliance — a collaboration between the UN Environment Program (UNEP) World Conservation Monitoring Centre, the UNEP Finance Initiative and Global Canopy — enables banks and investors to analyze the potential impact of their investment activities in agriculture and mining on biodiversity (..)
Banking association AFME’s response, detailed below, raised similar concerns. The post Investors, Banks Push Back on EU Plan to Ease Sustainability Reporting Rules first appeared on ESG Today. The post Investors, Banks Push Back on EU Plan to Ease Sustainability Reporting Rules appeared first on ESG Today.
The UN Environment Programme Finance Initiative (UNEP FI) has launched technical guidance for banks on managing physical climate risks within their loan portfolios.
The UN Environment Programme Finance Initiative (UNEP FI) has launched a series of resources designed to help banks and clients implement circularity within their businesses and portfolios.
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.
” 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.
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.
“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.
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.
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
In a statement following the departures, UNEP said that announcements were made “in light of the recent discussions within the United States,” and that the insurers that exited the NZIA were “particularly those with significant US business and exposure.”
Jessica Smith, Nature Lead at the UNEP FI, says it’s time for biodiversity to take its place alongside climate in investor priorities. 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.”. Innovative finance.
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. As the name implies, the pending zero draft is only a starting point for detailed negotiations and even compromises.
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.
See below for the highlights of the past week, and get all your ESG news at ESG Today: Sustainability Goals, Initiatives and Achievements Lenovo Commits to Net Zero Emissions Across the Value Chain by 2050 Danone Launches Plan to Address Methane Emissions From Dairy Supply Chain Pfizer to Offer Full Portfolio of Medicines to 1.2
Some banks are using a framework designed for the Principles for Responsible Banking (PRB) initiative to help meet reporting requirements under the EU Corporate Sustainability Reporting Directive (CSRD), a UN Environment Programme Finance Initiative (UNEP FI) webinar heard.
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.
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).
The UN-convened Net Zero Asset Owner Alliance (NZAOA) has previously called on multilateral development banks, development finance institutions and private investors to collaborate more to increase the flow of capital to climate adaptation and mitigation projects in EMDEs. Steady momentum .
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.
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.
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).
The RCWs provide a platform for policymakers, practitioners, businesses and civil society to exchange on climate solutions, barriers to overcome, and opportunities realized in different regions.
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.
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?
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.
Physical and transition risks being incorporated into a more holistic approach by financial institutions, says UNEP FI report, as regulators increase scrutiny. Climate risk management tools are reflecting an increasingly integrated approach by financial institutions (FIs), according to a new report United Nations Environment Programme Finance Initiative (..)
It spurs action on climate change as a systemic financial risk—driving the large-scale behavior and systems change needed to achieve a net zero emissions economy through key financial actors including investors, banks, and insurers. ET Thursday, July 27. For more information, visit ceres.org and ceres.org/accelerator and follow @CeresNews.
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.
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.
Financial institutions still don’t have expertise to handle net zero transition, according UNEP FI-backed report. The qualification was subject to a pilot phase involving candidates across 60 different firms, including asset managers, asset owners, consultants and banks.
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.” .
Not following suit – The European Central Bank (ECB) said banks do not yet sufficiently incorporate climate risk into their stress-testing frameworks and internal models. Further, almost two-thirds of banks’ income from non-financial corporate customers stems from GHG-intensive industries.
ESG Investor’s weekly round-up of news on technology and tools in the sustainable investing sector, including WWF, UNEP, S&P Global Sustainable1, ISS ESG, and CHOOOSE. The World Wildlife Fund (WWF) has launched a Biodiversity Risk Filter, which looks to aid companies in tackling nature-related risks. Karen Ellis, WWF’s Chief Economist.
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.
There are several financing questions to answer too – areas where developing nations in particular are keen for ‘stories about money’ to transform into cash in the bank. Furthermore, they predicted that financing needs were “likely far higher if adaptation and demand-side costs are included”. The UN Environment Programme seems to agree.
The only company that has attempted DSM exploitation, Nautilus Minerals, went bankrupt in 2019 as it unsuccessfully attempted to develop its Solwara 1 deep sea copper, gold and silver project off the coast of Papua New Guinea, causing large losses for several banks, including ABN Amro and ING Group.
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