------------------------------------------------------------------------ *UNEP FINANCE INITIATIVES E-Bulletin * Issue 15 February 03 _www.unepfi.net/ebulletin_ *EVENT OUTCOMES* *1. *Climate Change Working Group To Act on Study Recommendations (February 10, 2003 ? Geneva, Switzerland) *MEMBER SHOWCASE* *2. *Welcome to CDC Capital Group as a New Signatory *3. *Zurich Cantonal Bank achieves ISO 14001 *4. * RBC Financial Group named 'Most Respected Corporation in Canada' *5. *Rabobank Helps Rural Farmers Protect Against Coffee Price Falls *ACTIVITIES * *6. *Preparations for the 2003 Global Roundtable in Tokyo *7. *Environmental Management, Reporting and Indicators (EMRI) *8. *Global Consultation Report to be extended *EVENT WIRE* *9.*EMA-International Greenhouse Gas Emissions Trading Conference (March 2-4, 2003 ? Brussels, Belgium) *10. *CSR Road Show (April 3, 2003 ? Brussels, Belgium) *NEWS* *10. *UNEP Awards. For information on creative advertising marketing opportunities in this or other UNEP FI publications from the United Nations Environment Programme's Finance Initiatives please contact _fi@unep.ch_ *EVENT OUTCOMES* *1. Climate Change Working Group To Act on Study Recommendations* February 10, 2003 ? Geneva, Switzerland _http://www.unepfi.net/cc_ The UNEP FI Climate Change Working Group (CCWG) convened its first meeting of 2003 on 10 February in Geneva, Switzerland. Mr. Thomas Loster, Head of Weather and Climate Risks Research at Munich Reinsurance Company, was formally introduced as the newly elected chair of the working group for the coming year. Mr. Loster will lead the group as it moves to implement an aggressive work programme for 2003. Committed to following through with key recommendations presented in their latest landmark study, 'Climate Change and the Financial Services Industry', the CCWG successfully laid the groundwork for implementation. An awareness raising campaign in the financial services sector will be launched with the aim of inspiring individual financial companies to engage in climate change. The group is also in the process of assembling a project team to develop a quantitative methodology for asset managers that will capture the implications of climate change regulations. As part of the group's supplementary work programme for 2003, a strategic plan designed to provide positive input to the UNFCCC negotiations, specifically as it pertains to the Insurance sector, will be implemented as the CCWG progresses towards the 9th Conference of the Parties in Milan, Italy later this year. The group will once again play an active role at this important event. The actions presented above will ensure that the CCWG continues to deliver a programme that effectively provides the way ahead for the finance sector as it deals with the global challenge of climate change. Contact: Scott Flemming: _scott.flemming@unep.ch_ Tel: +41 (0) 22 917 8686 *MEMBER SHOWCASE* *2. UNEP FI Welcomes CDC Capital Group as a New Signatory* _http://www.cdcgroup.com_ On February 11, 2003, CDC Group plc signed up to the**UNEP Statement by Financial Institutions on the**Environment & Sustainable Development.**CDC, trading as CDC Capital Partners, provides private equity and risk capital for private sector businesses in emerging markets, particularly Africa and South Asia, through a network of local offices. The firm has had social and environmental policies in place for some years, engaging constructively with its clients to implement international good practice in these areas. Contact: Alice Chapple: _achapple@cdcgroup.com_ Tel: +44 (0) 20 7963 3923 *3. Zurich Cantonal Bank achieves ISO 14001* _http://www.zkb.ch/sustainability_ The Zurich Cantonal Bank, Switzerland's third-largest bank, has received the ISO14001 certificate for its environmental management system (EMS). The auditors praised the ambition of the top management to regard sustainability as a key strategic issue and to apply this within a systematically implemented EMS. As the most important impacts upon the environment arise through financial products (rather than through direct impacts like energy usage), the EMS includes all activities that relate to offering financial products to customers. The bank is offering a continually expanding range of sustainable financial products, which include sustainable investment products for private and institutional investors, environmental loans and an environmental savings account. Details are available in the annual Sustainability Report (which is fully integrated into the Annual Report) and on the website. Contact: Rene Beeler: _rene.beeler@zkb.ch_ Tel: +41 (0) 1 292 5338 *4. RBC Financial Group (Royal Bank) named 'Most Respected Corporation in Canada'* _http://www.rbc.com/_ In January 2003, RBC Financial Group was named the "Most Respected Corporation in Canada" by the KPMG/Ipsos-Reid annual survey that is provided exclusively to The Globe and Mail newspaper. RBC achieved this honour by placing first in six of nine categories, including "Most Admired & Respected," "Corporate Governance," "Human Resources," "Financial Performance," "Corporate Social Responsibility" and "Best Long Term Investment Value." This was the seventh consecutive year RBC was named the top Canadian corporation in the category of "Corporate Social Responsibility". For more information on RBC's Corporate Social Responsibility visit:___http://www.rbc.com/community/resources/recognition/20030120poll.html_and for survey results visit:___http://www.rbc.com/newsroom/reports.html#respected_. Contact: George Boire: _george.boire@rbc.com_ Tel: +1 416 974 5738 *5. Rabobank Helps Rural Farmers Protect Against Coffee Price Falls* _http://allafrica.com/stories/200302170776.html_ The Monitor (Kampala) February 17, 2003 ** The Dutch bank, Rabobank International, is offering East African coffee farmers a chance to protect themselves from the worst effects of low world market prices. This is achieved by using a 'commodity hedging tool' which is effectively a form of insurance, widely used on Western commodity exchanges, bought to protect farmers against price falls. A Ugandan business has already become the first to use this tool. The company bought a small volume of price insurance for three groups of producers in Ishaka, Uganda. It sold back the insurance when it was no longer required. This transaction benefited about 450 small Ugandan coffee farmers. Further transactions are expected during the crop season, which ends in February. In Tanzania, Rabobank is working with a large coffee co-operative, which purchased price insurance to manage its risk for the 2002/03 Arabica coffee selling season from October to December. In a recent project designed to protect producers who have no access to modern exchanges, Rabobank has been involved with several pilot transactions with the World Bank International Task Force in Commodity Price Risk Management. *ACTIVITIES* *6. Preparations for the 2003 UNEP FI Global Roundtable in Tokyo* Sustaining Value ? A Meeting on Finance and Sustainability _http://www.unepfi.net/tokyo_ On October 20-21, 2003, UNEP FI will host this year's Global Roundtable in Tokyo, Japan. Responding to recent discussions on governance of financial markets and corporations, the meeting will focus on the emergence of new governance frameworks and the resulting opportunities to enhance sustainable finance. The Roundtable, being one of the major conferences in the area of finance and sustainability, will bring together representatives from finance, government, business and civil society. High-profile speakers will discuss with participants how good governance, reporting and accountability can become drivers for environmental and social responsibility and what the financial community can do to promote best practice in these disciplines. The UNEP FI secretariat is working together with the conference host, the Development Bank of Japan, a taskforce of Japanese financial institutions, and other regional partners to prepare a conference that sheds light on current developments at the interface of finance, environment and sustainability, investigates emerging opportunities, and provides a forum for regional and global perspectives. A variety of sponsorship opportunities are available for the Roundtable. Please contact Philip Moss (_philip.moss@unep.ch_) for more details. Contact: (for further logistical information) Trevor Bowden: _trevor.bowden@unep.ch_ *7. Environmental Management, Reporting and Indicators (EMRI)* _http://www.spifinance.com/_; _http://www.epifinance.com/_; _http://www.globalreporting.org/_; _http://www.abi.org.uk/forge/_ On January 31, 2003, UNEP Finance Initiatives organised a half-day meeting in Geneva with representatives from the Global Reporting Initiative (GRI), EPI & SPI Finance, the FORGE Group and the UNEP FI Environmental Management and Reporting working group. The participants identified a need to consolidate existing financial sector reporting and indicator projects. Based on the discussion, the aforementioned parties - working under the auspices of UNEP FI - will seek to build on existing EMR and indicator initiatives to create an internationally accepted finance sector reporting standard. The ultimate aim of the UNEP FI process will be two-fold: · to produce financial sector specific best practice indicators that can be integrated into the GRI's Financial Sector Supplement; · to produce environmental management and reporting guidance for financial service companies in the developing world and transitional economies. It was agreed that a rigorous multi-stakeholder consultation should sit at the heart of the on-going effort to consolidate the existing EMRI initiatives and as part of efforts to develop the aspired internationally accepted EMRI standard for the finance sector. Contact: Yuki Kakiba: _yuki.kakiba@unep.ch_ Tel: 0041 (0) 22 917 8658 *8. Global Consultation Report Dives Deeper* A comprehensive look into the interaction between the finance sector and UNEP FI over the past two years. _http://unepfi.net/gcr_ Almost two years of progress in sustainable-finance is to be compiled into the 'UNEP FI Global Consultation Report.' The opening section of the report will be detailing the progression of the UNEP FI 'Global Tour' from April 2001 to December 2002. This series of conferences, roundtables and workshops in Africa, Asia-Pacific, Europe, Latin America and North America explored ? with governments, financial institutions and broader civil society ? the challenges and opportunities arising as banks, insurers and investors, as well as capital markets, move from words to action in support of sustainability. The second section will dive deeper into the different areas of interaction between the Financial Sector and UNEP FI. These various areas will be divided up into topic-based modules and will relate to the Asset Management, Climate Change, and Environmental Management Reporting and Indicators working groups as well as UNEP FI involvement with Export Credit Agencies, Sustainable Venture Finance, the UN Global Compact and NGO engagement. Also to be included are the post World Summit for Sustainable Development (WSSD) contributions from our regional task forces in Africa and North America along with our regional partners in Asia-Pacific and Australasia. In addition, participants lists from all the conferences are to be included along with many of the presentations that were given which are to be included on an attached CD ROM. The report is to be sent out in June of this year and is priced at US$500. Contact: Robert Reid: _robert.reid@unep.ch_ Tel: +41 (0) 22 917 8689 *EVENT WIRE* *9. EMA-International Greenhouse Gas Emissions Trading Conference* March 2-4, 2003 ? Brussels, Belgium _http://www.emissions.org/_ The Emissions Marketing Association (EMA) is holding an International Greenhouse Gas Emissions Trading Conference. This meeting will be held from March 2-4, 2003 at the Sheraton, Brussels and will be supported by the United States Environmental Protection Agency (US-EPA), Edison Electric Institute (EEI), EURELECTRIC and the Center for Clean Air Policy (CCAP). Industry experts will provide various perspectives on the greenhouse gas markets, risk management, industry case studies and GHG business opportunities. The International GHG Emissions Trading Conference also features the pre-conference course, ET101 - Introduction to Emissions Trading (tm). Experienced emissions traders, as well as those just entering the industry, will benefit from this hands-on and interactive educational course. Contact: David M. Feldner: _dfeldner@emissions.org_ Tel: +1 414 276 3819 *10. CSR Road Show* April 3, 2003 ? Brussels, Belgium _http://www.ecodurable.com/_ SOC.RATE is a European CSR Road Show conceived of as an opportunity for all European leading actors of non-financial performance to meet in the same place at the same time. Dialogue starts with European businesses presenting their CSR policies to investors, rating agencies and SRI funds. SOC.RATE presents a unique opportunity: · to collect new information through extensive and technical interaction with other participants, · to build multilateral and specific relationships with CSR communities, · to produce more thorough and efficient analysis about non-financial performance topics, · to fulfil current needs and anticipate future ones. Contact: Sarah Vignoles: _svignoles@man-com.com_ Tel: +33 (0) 14 548 2111 *NEWS* *11. Awards for Key Actors in UNEP* *Global Environmental Protection: Dr. Klaus Töpfer (Executive Director of UNEP)* In October 2002 the Deutsche Bundesstiftung Umwelt, Europe's largest environmental foundation, honoured UNEP Executive Director Klaus Töpfer, the highest ranking German in the United Nations system, for his outstanding achievement in international environmental protection. The award was presented by German Federal President Johannes Rau. German Federal Environment Minister, Jürgen Trittin, complimented his predecessor, saying that Töpfer had become a "synonym" for the protection of the global environment and enjoyed confidence all over the world among environmentalists. *Environmental Protection in China: Mme Jacqueline Aloisi de Larderel (Assistant Executive Director of UNEP & Executive Director of UNEP DTIE)* On February 18 2003 China's State Environmental Protection Administration presented UNEP Assistant Executive Director Jacqueline Aloisi de Larderel with its biennial Award for International Cooperation on Environmental Protection. Mme de Larderel was chosen for the award based on her advocacy of clean production in China and the help she provided Beijing in implementing international projects in sustainable tourism, ozone protection, persistent organic pollutant treatment and urban environmental management. *To unsubscribe:*email: _LISTSERV@peach.ease.lsoft.com_and in the body of the email type "signoff UNEPFI" *To subscribe:*email: _LISTSERV@peach.ease.lsoft.com_and in the body of the email type "subscribe UNEP FI" *END.* The *UNEP FI e-bulletin*is a monthly publication of the United Nations Environment Programme Finance Initiatives. United Nations Environment Programme Division of Technology, Industry and Economics Economics and Trade Branch Finance Initiatives Unit Editor in Chief: Paul Clements-Hunt _pch@unep.ch _ Assistant Editor: Jacob Malthouse jacob.malthouse@unep.ch Written and Compiled by: Kiki Lawal _kiki.lawal@unep.ch_ Robert Reid _robert.reid@unep.ch _ Disclaimer: The views expressed in this publication are not necessarily those of UNEP or UNEP FI, or of its signatories, nor does UNEP FI or its signatories take any responsibility for actions taken as a result of views or opinions expressed in this publication. Copyright 2003 - UNEP FI