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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.”.
Banking association AFME’s response, detailed below, raised similar concerns. The European Financial Reporting Advisory Group (EFRAG) was mandated by the European Commission in June 2020 to prepare for new EU sustainability reporting standards, and in November 2022, EFRAG submitted its final ESRS draft.
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.
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.
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.
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?
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. In 2020, the direct cost of waste management to the global economy was an estimated US$252 billion. billion tonnes.
The EU Taxonomy was among the first such tools, with its governing Regulation entering into force on 12 July 2020. The roadmap has the support of the International Financial Corporation, the Sustainable Banking and Financial Network, the International Platform for Sustainable Finance, the United Nations Development Programme and UNEP FI.
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. The US$100 billion of annual climate-focused financing for developing countries from 2020 onward – a 2009 promise that remains intangible – is another.
planets to provide the resources needed to produce goods and absorb waste (Global Footprint Network 2020). Negotiations reached their peak with different priorities of the developing and developed countries addressing ambitious targets to take climate action and limit global temperature increase to 1.5 degrees celsius.
The economic consequences of the COVID-19 pandemic caused CO2 emissions from buildings and construction to fall significantly in 2020, but a lack of real transformation in the sector means that emissions will keep rising and contribute to dangerous climate change, according to the 2021 Global Status Report for Buildings and Construction.
Stronger wording might have been possible, but this was a big step in the right direction,” said Remco Fischer, Climate Lead, UN Environment Programme Finance Initiative (UNEP FI). That’s something that the markets and the investors need to navigate,” says UNEP FI’s Fischer. C in realistic reach.
A 2020 World Bank report noted the “mineral intensity” of the transition to clean energy, pointing out the reliance of several renewable energy sources on technologies requiring higher levels of mineral inputs.
metres compared to 2020 levels, the number of people affected will increase by 20%. trillion by doing so, according to a World Bank report. Extreme climate-related events can reduce a property’s value by between 5-20%, according to the UN Environment Programme Finance Initiative (UNEP FI). metres respectively.
Tackling the tailback With governments’ 2035 phase-out deadline edging ever closer, EV transition efforts may stall in the face of rapidly growing global demand.
Former World Bank Global Director for Environment, Natural Resources and Blue Economy Karin Kemper will advise the board on natural ecosystems. . Banks, asset managers and insurers all have a lot more to do to align their financing and scale up investments that protect and restore biodiversity.” .
Agora’s recommendations, which include installation of new gas boilers and scaling up of heat pump installation, would reduce EU buildings’ existing fossil gas use by 480 terawatts an hour (TWh) by 2027 compared to 2020 levels of 1,400TWh. .
Nature does everything.” – the words of UNEP Executive Director Inger Anderson at Davos 2024 during a session exploring if the financial risks of climate change are under-priced. This group, representing over US$4 trillion in market capitalisation, includes some of the world’s largest asset owners and managers, banks and insurers.
Representatives from international organizations and multilateral development banks shared their views on how the concept of multidimensional vulnerability and associated measurement tools can help support better resource allocation and help strengthen resilience and emergency response in the context of SIDS.
, hosted by Euroclima+ and presented their modelling results, as part of their collaboration with Argentina's government to develop its Long-Term Strategy on Energy and Climate Change 2020-2050. Modeled off of our global meeting during the 2020 HLPF, the Networks program launched the regional University Presidents Meetings in December.
A 2020 World Bank report estimated the production of minerals, such as graphite, lithium and cobalt, will need to increase by nearly 500% by 2050 – the equivalent of nearly three billion tonnes – to fulfil sufficient upscaling of clean energy technologies and energy storage solutions. in 2020, and now 7.2% in 2018, to 8.6%
In March 2021, the Align project was also launched, led by the United Nation’s Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and funded by the European Commission.
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