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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.
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).
The proposed solution for netzero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. But there is still room for hope that netzero commitments – and subsequent progress on decarbonisation – can be transparent, aligned and ambitious.
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. It can’t just be the developed market.
Jessica Smith, Nature Lead at the UNEP FI, says it’s time for biodiversity to take its place alongside climate in investor priorities. There have been trillions of dollars committed to climate change as part of the Global Financial Alliance to NetZero ; now we want to recreate that commitment and momentum for biodiversity.”.
Hundreds of companies and investors including nearly 300 asset managers with a combined $68 trillion in assets have made netzero commitments. These include the Investor Agenda , Climate Action 100+ , the NetZero Asset Managers Initiative , the Valuing Water Finance Initiative , and the Ceres Ambition 2030 initiative, among others.
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
Neither the world’s financial firepower nor the impact of climate change is spread evenly, which means funding the transition to netzero is much harder and more urgent for emerging markets and developing economies (EMDEs) compared to developed ones. . If asset owners can feel confident that their capital will make a difference. .
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”.
The UN Environment Programme’s (UNEP) 2023 Emissions Gap Report – aptly titled ‘Broken Record’ – clearly states that the world is a long way from limiting global warming to 1.5°C The ‘ 2023 LT-LEDS Synthesis Report ’ said that 97% of assessed LT-LEDS include adaptation-related information.
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.
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.
This is part of a mandate issued last year to the ESAs by the European Commission which will inform a decision on whether further supervisory or enforceable action is needed to reduce greenwashing risk in the sustainable investment space.
Property & casualty and life insurance companies most consistently provide comprehensive information. Metrics and targets was the area with the weakest responses across all lines, with only 193 reports providing information and very few encompassing a comprehensive set of climate-related metrics. ET Thursday, July 27.
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). Heading for the exit?
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 MOVE Initiative assists in studying baselines, public policies, and business models. For those unable to attend, the full session is available on the SDSN YouTube Channel.
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.
Following “strong feedback” on the connection between climate and nature, Faber said the ISSB plans to immediately advance work on the climate standard, making explicit connections to natural ecosystems and human capital aspects of the netzero transition. . “We
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.
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?
Extreme climate-related events can reduce a property’s value by between 5-20%, according to the UN Environment Programme Finance Initiative (UNEP FI). Last year, UNEP FI published guidance outlining the kinds of resilient buildings needed to cope with new climate extremes.
Analysis from the United Nations Environment Program (UNEP) concludes that a 45% reduction in global methane emissions by 2030 is essential to limiting global warming to 1.5 To shape technically sound regulations that achieve reductions in methane emissions, Enbridge has informed comments from industry groups on several federal methane rules.
As of 1 July 2020, the number of cases had nearly doubled, with at least 1,550 climate change cases filed in 38 countries, according to the UNEP Global Climate Litigation Report. In 2017, there were 884 cases brought in 24 countries. As of January 2022, 1,853 cases have been reported.
In addition to the global stocktake, the UN Environment Programme’s (UNEP) Emissions Gap Report will soon be updated, illustrating the gulf between current commitments and the levels needed to avoid the worst climate impacts. Efforts to limit global warming to 1.5°C
This expert group includes representatives from the UNEP World Conservation Monitoring Centre, standard setters EITI and SASB, and investment institutions FTSE Russell and S&P Global. ISS ESG Issuer Level NetZero Alignment Data can be used to identify positive and negative performing companies against individual climate related metrics.
The standard was developed after the failure of a tailings facility at Brumadinho, Brazil in 2019, causing 272 deaths, through an independent process convened by ICMM, the United Nations Environment Programme (UNEP) and Principles for Responsible Investment (PRI).
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.
Banks and other financial intuitions (FIs) have the potential to help transition land-use to become ‘nature positive’ in addition to ‘netzero’, by redirecting investment to sustainable land-use projects. UNEP is working with national institutions and FIs to strengthen domestic regulatory frameworks in order to address this challenge.
With the agricultural targets we have remote sensing, while even with the social goals there is scope for automating the supply of this information by clients of investors and banks in such a way that protects client confidentiality,” he said. “A A lot of issues coming together”. Ultimately, a lot of food issues are coming together.”.
As the world experiences record global temperatures and greenhouse gas emissions, the latest Emissions Gap Report from the UN Environment Programme ( UNEP ) found that current pledges under the Paris Agreement put the world on track for a 2.5–2.9°C C above pre-industrial levels. For the 1.5°C C goal, emissions need to be cut by 42%.
In January, an investor-led initiative was launched to address systemic risks in the mining sector to ensure a just transition to netzero, partly in reaction to a string of mining-related disasters that have generated despair and distrust from local communities and untold environmental damage.
Investors are increasingly recognising the need for biodiversity and nature-related data, even as still nascent information streams prove difficult to navigate.
SDSN signed a partnership agreement with the Climate Action Tracker (CAT) to collaborate in the coming years on areas of common interest, including around national net-zero strategies, pathways and policies.
“It was fascinating to see the wide range of innovative solutions each student team created when posed the same challenge: to design an IoT device that will help the world reach netzero,” said Jeff Harris, Vice President of Portfolio and Corporate Marketing at Keysight, who also served as a judge and co-sponsor of the Keysight Innovation Challenge.
C is rapidly falling out of reach , despite the fact most netzero commitments set by governments, investors and companies target a 1.5°C What investors can do instead is continue to demand netzero transition plans aligned with 1.5°C “This summer is giving us a mere taste of our future, and we’re still only at 1.3°C
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. Investors should advocate for more information by asking companies to join the Oil and Gas Methane Partnership 2.0,
On 15 May, over 20 state attorneys-general sent a letter to NZIA and NetZero Asset Owner Alliance (NZAOA) members, asking for information on their relationship to the alliances and commitments made. Fear of breaking anti-trust laws risks shaking the foundations of GFANZ sub-alliances in the wake of NZIA exodus.
million metric tonnes of CO2 within their roots, trunks and soil every year, according to the United Nations Environment Programme (UNEP). However, a lack of regulation, transparency and governance means that EMs choosing to incorporate VCMs into their climate strategies are exposing themselves to a number of potential risks. .
According to ISS ESG, the new update addresses market demand for a more unified approach to scenario alignment, adding the latest developments in best practices for measuring portfolio alignment, including the recommendations of the Glasgow Financial Alliance for NetZero (GFANZ).
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