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S&P Global Sustainable1 and the UN Environment Programme (UNEP) announced today the launch of Nature Risk Profile, a new methodology aimed at enabling companies and investors to assess and analyze companies’ nature-related risks, including impacts and dependencies on biodiversity.
DESCRIPTION: This week, the UN Global Compact Network UK is convening expert business, government, and civil society leaders to explore how businesses can implement nature-based solutions and the principles of a circular economy to scale holistic action on netzero! Register Now!
Researchers say that players can also develop a feeling of control in games they don’t get from other mediums, as they make decisions that drive the narrative forward. “I Many of the large tech companies that manufacture games and consoles, such as Microsoft, Apple and Google, have committed to reaching net-zero by 2030.
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).
According to two recent reports from Goldman Sachs, the cost of developing fossil fuels has surpassed the cost of renewable energy projects. These developments are critical. C above pre-industrial levels, according to the United Nations Environment Programme (UNEP).
The Science Based Targets initiative ’s (SBTi) much-anticipated Financial Institutions NetZero (FINZ) standard is expected to place banks under more pressure to increase their climate-related transparency and ambition.
trillion annually required to reach netzero emissions by 2050, and adds that policies to date have focused primarily on developed markets, while emerging markets and developing economies (EMDEs) are still facing significant underinvestment. trillion in 2023, but notes that this still falls short of the estimated $4.8
Investors have made pledges towards netzero, they are taking action by engaging with companies, and are increasingly vocal and responsible stewards of the capital they manage. But they cannot do it alone. Consequently, investment portfolios may remain exposed to sustainability risks from climate change.
PRI will lead new taskforce focused on supporting dialogue between policymakers and non-state actors pursuing netzero-aligned strategies. We’re getting very positive feedback from those major institutions of the globe – this taskforce needs to represent the diversity of the globe.
The Glasgow Financial Alliance for NetZero (GFANZ) has announced the formation of its APAC Network and the creation of a regional advisory board to accelerate netzero action across the Asia Pacific region. It will also look to develop country chapters to support local engagement and implementation.
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 has launched Route to NetZero Standard, a three tier certification system that will rank companies’ progress to netzero.
climate action and investments, as public and private sector leaders raise their ambition, deliver on commitments, implement policies to capitalize on the opportunities in the necessary transition to a zero emissions future, and ensure public finance to support adaptation and resilience for developing nations.
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.
Although minerals are critical to a netzero future, ongoing environmental and social abuses cannot be ignored, urges Brumadinho community representative. It will further attempt to identify where existing ESG data can be consolidated, so investors and corporates can align. No metals, no transition… but at what cost?”
A letter from 534 financial institutions representing US$29 trillion in assets under management called for policy action in five areas to accelerate private sector investment in a “ just transition to a climate-resilient, nature-positive, net-zero economy”.
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).
Blended finance vehicles can help asset owners achieve impact in emerging markets and developing economies. . Research by the BlackRock Investment Institute has estimated that around US$1 trillion a year is needed if EMDEs are to achieve netzero by 2050. . The group plans to unveil some of its findings ahead of COP27. .
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”.
If approved, it will lead to the setting up of RAF as a standardised template for organisations to submit their netzero pledges and transition plans for publication in GCAP, says Gillod. But, Gillod is also cautious about how much impact the UNFCCC’s RAF can actually have. “It
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.
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.
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).
The new Zero Carbon Building Accelerator will coordinate the development of national roadmaps and action plans toward a zero-carbon building sector by 2050, beginning in partner countries Colombia and Turkey and eventually spreading throughout the expansive network of subnational partners to the Building Efficiency Accelerator.
This dialogue sought to harness the expertise and guidance of the CEET to inform strategies and actions to achieve net-zero emissions by 2050. The program is already operational, and focuses on public transportation, fleet replacement and expansion, and the development of a comprehensive charging network.
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.
The future of his Glasgow Financial Alliance for NetZero 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.
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.
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.
Stuart Lemmon, Global Managing Director for the NetZero Transformation Practice at EcoAct, an Atos company, outlines the elements of a credible corporate climate strategy and explains why we should embrace scrutiny and work collectively on the path to netzero. o C remains highly uncertain. Navigating without a road map.
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.” .
With the transport sector responsible for over 30% of global emissions , the case for transitioning from emission-intensive internal combustion engine (ICE) vehicles to electric vehicles (EVs) is clear for any corporate, government or investor focused on meeting their netzero targets. “The regulatory direction is clearly pointing towards zero-emission (..)
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. At least US$1 trillion of this needs to be annually invested in EMDEs.
A failure of carbon markets now would slow humanity’s path to netzero emissions and derail financial innovation in other ecosystem services, María Mendiluce writes. A failure of carbon markets now would slow humanity’s path to netzero emissions and derail financial innovation in other ecosystem services.
Mathilde Mesnard, Co-ordinator for Climate and Green Finance at the Organisation for Economic Co-operation and Development (OECD), said that rather than viewing climate as a “summit” that needs to be reached, it and nature should instead be recognised as “twin peaks”.
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.
The approach is also designed to allow organisations to signal their alignment to global policy goals, such as the recently negotiated Global Biodiversity Framework much as they are now doing with climate reporting and netzero transition planning aligned to the goals of the Paris Agreement.
Applicable for any organization in coal mining, exploration, processing, transport and storage, GRI 12 was developed by a working group that ensures multi-stakeholder and global legitimacy. Initial coverage includes an assessment universe of the most material sectors of major developed market indices. .
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.
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. . Wielding effective policy .
As climate urgency increases, and countries around the world look to make good on their nationally determined contributions, the more pressure there is across both emerging and developing markets to adapt to and mitigate the effects of climate change, panellists said. . Surpassing US$1 trillion . trillion, the Climate Bonds report said.
As netzero strategies are taking shape and being implemented, governments , investors and companies are enlisting the natural world in the battle to combat the most catastrophic effects of climate change. There is also a place for NbS in city areas , with investment opportunities in the development of green roofs and green belts.
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. Yet, as the latest United Nations Environment Programme’s (UNEP) annual gap report shows, policies currently in place point to a 2.8°C
As highlighted by Jessica Smith, Nature Lead at UNEP FI, in this week’s ESG Interview , the TNFD’s approach consciously builds on and aligns with existing initiatives such as TCFD and Science Based Targets for Nature , to simplify and accelerate the allocation of capital to investments and activities that protect and support biodiversity. .
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