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UNEP FI at COP 15: Giving a voice to the financial services sector
20 November, 2009 If climate change is to be tackled effectively, all scenarios going forward suggest that business, private finance and the capital markets will have to play a major role in the battle against climate change - much more concerted action will be needed than in the past. Against this background, UNEP FI’s presence at the COP 15 gives a voice to private lenders, insurers and investors on what is required from the future climate change regime in order to better mobilise the skills, entrepreneurship and products of the private sector in what remains one the greatest global challenges of the 21st century. It is about clearly defining the roles and responsibilities of the industry and discussing how these can be effectively embedded into the international climate change regime of the future.
Join your peers in speaking up on climate change at COP15
UNEP Finance Initiative 2009 Global Roundtable
22 October, 2009
Publications launched and featured at the Global Roundtable
UNEP FI Insurance Working Group unveils ground-breaking report on the global state of sustainable insurance
22 October, 2009 Cape Town/Geneva/Nairobi The UNEP FI Insurance Working Group has launched a ground-breaking report exploring the complex relationship between environmental, social and governance (ESG) factors, core insurance operations, and the insurance industry.
The landmark report, with forewords from UN Under-Secretary-General and UNEP Executive Director, Achim Steiner, and HRH The Prince of Wales, is titled, “The global state of sustainable insurance – Understanding and integrating environmental, social and governance factors in insurance”. It is based on a pioneering global survey conducted this year by the UNEP FI Insurance Working Group, comprising the world’s leading insurers, and its Academic Working Group, comprising renowned academic institutions from North America and Europe, on the understanding and integration of ESG factors in insurance underwriting and product development.
The comprehensive survey covered a wide spectrum of ESG factors as they relate to the insurance business, primarily—climate change, biodiversity loss & ecosystem degradation, water management, pollution, financial inclusion, human rights, emerging manmade health risks, ageing populations, regulations, disclosure, ethics & principles, and alignment of interests.
The survey obtained respondents from 60 territories worldwide—from Africa, the Asia-Pacific, Europe, North America, and Latin America & the Caribbean—with over 3,800 years of cumulative insurance experience, and generated nearly 2,700 pages of data.
Read more View the launch document View the official UNEP press release
STERN LAUNCHES INVESTOR STATEMENT ON CLIMATE CHANGE, backed by USD 13 trillion of assets under management: the world’s capital markets speak up on the urgent need for a real deal.
16 September, 2009 New York City, United States
The times when the private sector was against determined action on climate change are over.
181 leading investors and financial institutions responsible for the fiduciary management of USD 13 trillion – the backbone of the global economic system - have today unveiled a Statement on the Urgent Need for a Global Agreement on Climate Change, to be agreed on in Copenhagen this year at the UN climate change conference (COP 15 of the UNFCCC).
Endorsed by developed and developing country investors, this landmark Statement specifies the elements that the upcoming climate change deal must feature so as to unlock institutional investment and finance sector skills - at the needed scale - into the development of a low-carbon and climate-change resilient global economy. Central to the Statement is the science-based demand for a global target for emission reductions of 50-85% by 2050, and developed country emission reductions targets of 80-95% by 2050.
More details available here.
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