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The Global RoundtableOver the years UNEP FI’s biennial Global Roundtable has set the global agenda for sustainable finance and the 2009 Cape Town event (22 to 23 October) is already being hailed as “the best Roundtable ever” This was the first-ever Roundtable held on the African continent, and it managed to attract over 470 participants, two-thirds of them international participants, from the financial sector, NGOs, academia, and government. The Roundtable was the highlight event of Cape Town Green Week, officially launched the global Consider Us campaign and gave climate change-conscious delegates a chance to “build a bridge from Cape Town to Copenhagen”. Under the conference theme “Changing Finance, Financing Change”, and amid the global financial and economic crisis, the delegates reassessed traditional thinking and practices, and explored the best way forward towards achieving sustainable financial markets and economies. A second priority was climate change, and particularly December’s UN Climate Change Conference in Copenhagen. Delegates used the Roundtable to frame discussions on international climate policy that will have resounding impacts on the financial sector and international carbon markets. A statement from the Global Roundtable to Copenhagen negotiators was discussed and drafted at a CEO’s Breakfast meeting. The Cape Town Roundtable also offered cutting-edge interactive panel sessions, in-depth debates, and expert training on subjects as diverse as: responsible investment; sustainable banking; low-carbon economy; financing renewables; sustainable insurance; transparency, reporting and accountability; responsible property investment; microfinance; finance and water; valuing natural capital; and financing for sustainable development. Special arrangements were made to offset all carbon emissions produced by the Roundtable and make the event as green as possible (Keep it Green). A tree-planting ceremony took place at Khayelitsha Special School, a township school mainly catering to physical and mentally challenged learners, as part of Cape Town Green Week and UNEP’s Plant for the Planet: Billion Tree Campaign. A full Conference Report with presentations will soon be posted on the UNEP FI website Publications launched at the Global RoundtableThe global state of sustainable insurance – Understanding and integrating environmental, social and governance factors in insurance The materiality of climate change - How finance copes with the ticking clock The Natural Value Initiative: The Ecosystem Services Benchmark The Natural Value Initiative: Linking Shareholder and Natural Value Chief Liquidity Series - Issue 1: Agribusiness (geography- and sector-specific water materiality briefings for financial institutions) Catalysing low carbon growth in developing economies - Public Finance Mechanisms to scale up private sector investment in climate solutions Soft launch: And yet it moves - Success stories and drivers of CDM project development in sub-Saharan Africa 0.618... Issue 9 UNEP FI 2008 Overview Media coverage of the Global Roundtable and Cape Town Green WeekArticles in the press TV and radio Cape Town Green WeekCape Town Green Week hosted many other events as well as the official programme of UNEP FI’s Global Roundtable. Leading institutions, associations and other organisations became enthusiastically involved in the effort to make Cape Town “one of the greenest cities on Earth”. For details of Green Week Events visit: http://www.unepfi.org/events/2009/roundtable/greenweek/index.html Global Roundtable and Green Week partners included: Conference Dinner Sponsor: Standard Chartered Bank Roundtable Partners: The Banking Association South Africa, Johannesburg Stock Exchange Roundtable Supporters: Africa Geographic, Africa Investor, Catlin Arctic Survey, Dot Eco, Globe foundation, Jetfin, Green Building Council of South Africa, Solar Impulse, National Business Initiative (NBI), Sustainable Finance Geneva, TOP to TOP Roundtable Media partners: ASrIA, China Entrepreneur Magazine, Clear Profit, Japan for sustainability, Forum Nachhaltig Wirtschaften, Environmental Finance, Green Money Journal, Green Power Conferences, SRI World Group, Oekom Research, Syn Tao Cape Town Green Week Partners: City of Cape Town, Africa Investor, Banking Association of South Africa, Johannesburg Stock Exchange, Cape Town International Convention Centre, Cape Town Partnership, Big Room - DotEco, Carbon Disclosure Project (CDP), National Business Initiative,Green Building Council of South Africa, UNEP Green Economy Initiative (GEI) Keep it GreenPracticing what it preaches UNEP FI took all possible steps to host an carbon-neutral conference by reducing, reusing and recycling its own materials and run the event on certified renewable energy. It also encouraged delegates to reduce their own energy consumption, use sustainable materials and reduce their waste with a series of handy green tips. Delegates were invited to attend a Waste Wise event at the Welcome reception and Conference Dinner. Visit http://www.unepfi.org/events/2009/roundtable/green/index.html for details. The Green Report from UNEP FI’s 2007 Melbourne Global Roundtable showed that 72 per cent of the event's overall emissions resulted from delegates flying to and from the destination and so this year UNEP FI partnered with both the UN award-winning NGO, Food and Trees for Africa and Green Sponsor Pick 'n Pay to offset all the carbon emissions from the entire event, including and emissions arising from delegates flying to and from the event. CopenhagenWhen world government leaders meet at the UNFCCC COP 15 (http://en.cop15.dk/) in Copenhagen, Denmark, (7-18 December) to negotiate a global response to climate change and a successor deal the Kyoto Protocol, UNEP FI will be there to provide a voice for private lenders, insurers and investors. All potential outcome scenarios from Copenhagen suggest that businesses, private finance and the capital markets need to play a major role in the battle against climate change and that much more concerted action will be needed than in the past. Block your diaries to join UNEP FI at the COP 15 in Denmark: UNEP FI at Copenhagen: Giving a voice to the financial services sectorUNEP FI’s presence at the Copenhagen Climate Change Summit (COP 15) will provide a voice for private lenders, insurers and investors on what is required from a new climate change agreement in order to better mobilize the skills, entrepreneurship and products of the private sector in what remains one the greatest global challenges of the 21st century. A statement from the Cape Town Global Roundtable, originating from a breakfast meeting on 23 October, where 11 CEOs from the African and international private sector along with the heads of non-governmental organizations discussed the possibility of a sending a message to Copenhagen on what can, and should, be done to meet African needs, has been circulated for signature and will be brought to the attention of Copenhagen negotiators. The Statement builds on UNEP FI’s Investor Statement on the Urgent for an International Agreement on Climate Change: http://www.unepfi.org/fileadmin/documents/need_agreement.pdf The UNEP FI Cape Town to Copenhagen News Centre (http://www.unepfi.org/news_centre/) has also been helping maintain the momentum of the Global Roundtable and ‘build a bridge’ to the climate change summit with daily news stories, links and reports. UNEP FI and its partners will also host a series of side events during the Copenhagen event to bring the finance sector perspective to the crucial climate change debate. Join UNEP FI at one of the following events at the COP in Denmark. For more details visit: http://www.unepfi.org/COP15 Monday 7 December: The Materiality of Climate Change - the Nordic region and beyond - side event hosted by UNEP FI and Danske Bank Friday 11 December: Financing the battle - scaling up private sector investment through public mechanisms - main official side event on finance and investment at the COP15, hosted by UNEP FI and the Institutional Investors Group on Climate Change (IIGCC) Friday 11 December: Policies for a low-carbon built environment - Construction Counts for Climate! - side event hosted by the UNEP Marrakech Task Force on Sustainable Buildings and Construction with support of the UNEP FI Property Working Group. Thursday 17 December: Risks, insurance and investments - Supporting low carbon energy technologies - official side event on the role of insurance in low-carbon projects in developing and emerging economies, hosted by UNEP Energy Branch, WWF and RSA with support from UNEP FI Signatories MunichRe and CarbonRe. Thursday 17 December: Green Economy: Implementing a New Climate Deal - Economic paths to prosperity, decent employment, and poverty reduction by accelerated investment in climate change mitigation and adaptation – main UNEP side event. Daily finance and investment sector meetings will be held for note-swapping during the COP. For more information contact: climate@unepfi.org Get updates on the progress and developments of the negotiations via Norton Rose For daily COP updates by an expert team of Norton Rose lawyers, either:
Consider UsIf you or your friends have children, you should encourage them to visit the website of the Consider Us campaign (http://www.considerus.org) which is providing a global voice for children to express their concerns over climate change to the world leaders meeting at Copenhagen. Children can also join Consider Us on Facebook (http://www.facebook.com/) or learn more about the campaign from these videos:
Consider Us allows children, between six and eighteen, to explain in 20 words why world leaders should consider them when signing their climate change treaties. These messages appear, in real time, on a dedicated website, serving as a voice of the generation with the most to lose. The campaign was officially launched during UNEP FI’s Global Roundtable at a tree-planting ceremony at Khayelitsha Special School, which caters to mainly physical and mentally challenged learners. Also launched at the ceremony were Cape Town Green Week and the UNEP FI’s “Keep it Green” initiative to offset the carbon footprint of the Global Roundtable as part of UNEP’s Plant for the Planet: Billion Tree Campaign. As well as the website, the Consider Us campaign includes: A TV, radio and print campaign; a chalking project, whereby messages are chalked up in communities; display of children’s messages from the website strung up on washing lines at the Cape Town International Convention Centre for attending delegates; and a performance by South African rock star, Arno Carstens who donated a song, entitled “Emergency”, from his newest album as campaign’s soundtrack. Arno performed the song live at the Global Roundtable Conference Dinner together with his musical partner Theo Crous and the award-winning Tygerberg Children's Choir. Read more about how Arno Carstens is supporting Consider Us and listen to "Emergency" at: http://www.arnocarstens.com A selection of the most hard-hitting, heart-rending messages from participating children are being be collected in a book to be delivered to heads of state at the Copenhagen Climate Change Summit. They will be asked to sign the book, which will constitute, effectively, a signed oath to heed the demands of children all over the world. Once signed, the book will travel back to Cape Town, South Africa, where it will be buried in a time capsule to be opened 20 years from now. Follow Consider Us at: http://www.considerus.org
UNEP FI welcomes four new Signatories Earth Capital Partners LLP Based in London, Earth Capital Partners LLP offers access to:
For further information, please visit: http://www.earthcp.com/ La Compagnie Benjamin de Rothschild S.A. Swiss based La Compagnie Benjamin de Rothschild, provides a risk management advisory service to corporate and public entities to mitigate their financial risks, establishing benchmarks and risk limits, in interest rates, currency, equity or commodity exposures. The company manages and advises currency overlay and tactical asset allocation mandates and UCITS funds. It structures financing solutions and private equity funds for both private and public sector players. It is one of the leading European specialists in the structuring of Public Private Partnerships (PPPs). The company has acquired a majority stake in BeCitizen, a leading environmental strategy consultancy, and both companies jointly advise one of the largest environmental listed equity funds. The company is developing a number of environmental investment opportunities, acting as initiators or advisors. For further information, please visit: http://www.ctbr.ch/fr/ctbr/index.asp Kennedy Associates RE Counsel, LP Kennedy Associates Real Estate Counsel, LP, a full-service registered real estate investment advisor, brings over 30 years of entrepreneurial real estate investment expertise to a select number of public, corporate and Taft-Hartley retirement systems, as well as major university endowments. Based in the United States, Kennedy has invested in and managed US$13 billion in development, redevelopment, and existing properties. Throughout its history, Kennedy has brought superior value-added results to some of the country’s largest institutional investors as well as open-ended commingled funds and closed partnerships. Kennedy Associates is a leader in Responsible Property Investing (RPI). A relatively new concept, RPI considers environmental and social ramifications, as well as fiduciary responsibilities, in managing real estate investments. Kennedy Associates was recently named one of nine global winners in the inaugural Sustainable Cities Award sponsored by the Financial Times and Urban Land Institute. For further information, please visit: http://www.kennedyusa.com/ Investa Property Group Investa Property Group is a fully integrated real estate company and one of the largest, unlisted owners of commercial real estate in Australia. Since its inception in 2000, Investa has grown to control real estate assets of approximately AU$8.1 billion. Investa’s head office is in Sydney CBD, with management and development offices located in Melbourne, Brisbane, and Perth. Investa is engaged in commercial, industrial and residential development with a development pipeline in excess of AU$3.7 billion. Investa’s residential land developments encompass broad acre subdivisions located in New South Wales, Victoria, Queensland, and Western Australia. For further information, please visit: http://www.investa.com.au/ What our Signatories are Doing... DnB NOR included in recognized sustainability index UNEP FI signatory DnB NOR has qualified for inclusion in the prestigious Dow Jones Sustainability World Index (DJSI World) meaning that it is now regarded as one of the top 10 per cent within its industry worldwide in terms of sustainability. DJSI World evaluates the biggest 2,500 companies worldwide in terms of sustainability and lists the top 10 per cent within each industry based on long-term economic, environmental and social criteria. DnB NOR is one of five Norwegian companies now included in the index, which is an important tool for investors and other stakeholder groups wishing to assess non-financial aspects of companies' operations. Launch of innovative renewable energy insurance facility to cover risks in developing countries An innovative mechanism for insuring renewable energy projects in developing countries has been launched by Munich Re, RSA Insurance Group (RSA), and CarbonRe, with support from the Global Environment Facility (GEF) and the United Nations Environment Programme (UNEP). The global renewable energy insurance facility, which will be operated via a new internet website “insurance4renewables”, will offer standard and customized insurance solutions for renewable energy projects in developing countries. This initiative sends a strong message to the international community, meeting at the Copenhagen climate change summit by showing that the right environment can be created to ensure growth and sustainability of renewable energy investments and that all countries can benefit from and contribute to the climate change mitigation efforts. Australasian UNEP Finance Initiative Newsletter – Issue 16 Inside this issue of Briefing, which is produced by the Australia Group under the Asia-Pacific Task Force, are articles on: Helping the Salvos provide debt crisis help...New initiative, familiar objective...Biodiversity: a world first...An innovative savings plan...UNGC Network launched in Australia..."Be aware you have choices and make the right choice." Download the newsletter: http://www.unepfi.org/fileadmin/documents/epavic_newsletter_issue16.pdf
Environmental and Social Risk Analysis (ESRA) E-learning Programme The last two Environmental and Social Risk Analysis (ESRA) E-Learning Courses for 2009 have been held. The courses (Spanish 2 - 20 November and English 9 - 27 November), attracted participants from more than 20 different countries. Courses will continue to be offered on a quarterly basis and in both languages in 2010. Details will be posted on our training calendar as soon as they are known. The Environmental and Social Risk Analysis (ESRA) E-Learning Course runs interactively over a three-week period and is intended specifically for risk managers and analysts in commercial, corporate, investment and retail banking in or dealing with developing countries and emerging markets. The course is a product of UNEP FI, Capacity Building International (InWent), and the INCAE Business School, and is supported by Ecobanking Project. Since its inception in 2006, over 30 courses have been delivered in English and Spanish. For further information, please visit: http://www.unepfi.org/training/risk_training/index.html or contact: risktraining@unepfi.org E-learning course on Corporate Eco-efficiency for Financial Institutions (CEFI) The final CEFI E-Learning Course for 2009 took place in October 2009 and catered to participants from across Latin America. Details of 2010 training courses will be posted on our training calendar as soon as they are arranged. The CEFI E-Learning Course, first introduced in 2008, seeks to train representatives of the financial sector on making efficient use of the resources involved in the daily internal operations of financial institutions (FIs) and thus reduce their environmental footprint. It is organized by UNEP FI, Capacity Building International (InWent), and the INCAE Business School, and is supported by Ecobanking Project. For further information, visit: http://www.unepfi.org/training/ecoef_training/index.html
Africa Introductory Training Workshop on Environmental and Social Risk Analysis 21 October, 2009, Cape Town, South Africa: An UNEP FI-Ecobanking Workshop was held at the Mount Nelson Hotel in Cape Town, just ahead of the 2009 Global Roundtable. This was the first time that UNEP FI convened a Training Workshop in Africa, seeking to train risk analysts and managers who work for financial institutions from all over the region on how to identify and manage social and environmental risks and opportunities in their lending and investment operations. Participants were welcomed by Robert Tacon, Standard Chartered, and Chair of the UNEP FI Steering Committee; Peter Thimme, Head of the Sustainable Development / Environment Department at DEG in Germany; and Stephan Claassen, Western Cape Provincial Chairman at First National Bank, supporters of the event, together with The Banking Association of South Africa. The course tutors were Christina Wood and Melissa Makwarimba, South Africa-based tutors of the ESRA E-Learning Course (UNEP FI, Ecobanking, INCAE Business School and InWEnt) and guest speakers included Christopher Wells, Environmental Risk Management, Grupo Santander, Brazil, Chair of the UNEP FI Latin American Task Force; Chris Bray, Head of Environmental Risk Management, Barclays, UK; Nigel Beck, Global Environmental Manager, Project Finance, Standard Bank, South Africa; and Anton G. Van Elteren, Senior Environmental and Social Analyst, FMO, Netherlands. For more details about UNEP FI Training Workshops, visit: http://www.unepfi.org/training/risk_workshop/index.html Latin America UNEP FI’s Latin American Task Force launches advanced risk training workshop 22-23 September, 2009, Bogota, Colombia: UNEP FI’s Latin American Task Force (LATF) and its partner, the Ecobanking Project, have launched a brand new training workshop, the latest addition to the highly successful Environmental and Risk Analysis (ESRA) Training Programme. The UNEP FI/Ecobanking Advanced ESRA Training Workshop is aimed exclusively at risk managers and analysts who already have a basic understanding and/or experience of environmental risk management and are now seeking to step up their ESRM systems. Under the guidance of tutor Edgar Rojas, Manager, from the Ecobanking Project, and LATF Chair Christopher Wells, Environmental Risk Manager, Banco Real/Grupo Santander, participants undertook live web research, used specialized analysis tools, and simulated the presentation of an environmental risk report before a risk committee. This first Advanced Workshop was organized in collaboration with UNEP FI Member Fundación Social, Colombia, the Colombian Banking Association (Asociación Bancaria y de Entidades Financieras de Colombia), and CECODES (Colombian WBCSD Chapter). UNEP FI LATF peer-to-peer breakfast meeting on Environmental and Social Risk 24 September, 2009, Lima, Peru: A Breakfast Meeting, organized in collaboration with BBVA Banco Continental under the auspices of the Peruvian banking Association (ASBANC), gathered risk managers from across the Peruvian banking sector for reflection on the adoption and implementation of environmental and social risk management policies and practices. Participants were welcomed by Oscar Rivera, Board Director of ASBANC and Eduardo Torres-Llosa, CEO of Banco Continental, and heard addresses from Christopher Wells, Environmental Risk Manager, Banco Real/Grupo Santander and Careen Abb, Regions and Commissions Coordinator at UNEP FI. The event was organized as a follow-up to the Introductory Training Workshop organized by UNEP FI and the Ecobanking Project in 2006. Further follow-up activities are planned to take place in 2010. For further information about LATF and its activities, please visit: http://www.unepfi.org/regional_activities/latin_america/index.html Asia Pacific UNEP FI Training Workshop on Environmental and Social Risk Management 27 October, 2009, Manila, Philippines: UNEP FI held its first Environmental and Social Risk Analysis training workshop in the Philippines, and the Asia-Pacific region at large. The workshop sought to provide risk analysts and managers across the country's financial sector with a practical introduction on how to identify and manage social and environmental risks and opportunities associated to their lending and investment operations. Alfredo C. Antonio, Member of the Monetary Board of the Central Bank of Philippines, delivered the opening speech, together with Secretary General of ADFIAP, Octavio B. Peralta. Training was provided by Melissa Makwarimba, accredited tutor for UNEP FI's online training program on Environmental and Social Risk Analysis. Participants were also addressed by Ben Ridley, Regional Head of Sustainability Affairs of Credit Suisse, who provided illustrations of environmental risk management as implemented in his institution. This was an agenda-setting session for the promotion of sustainable finance best practice in the Philippines financial sector. Lots of positive feedback and comments were received from the participants. The workshop was organized in collaboration with, and thanks to, the support of UNEP FI's local partner ADFIAP. For further information about Asia Pasific Task Force and its activities, please visit: http://www.unepfi.org/regional_activities/asia_pacific/index.html
PRI- UNEP FI PWG Webinar: Responsible property investing – Committing and engaging 10 December, 2009, UNEP FI/PRI webinar: PRI signatories and members and friends of UNEP FI are invited to join a webinar on 10 December. The webinar will provide information on how to commit to Responsible Property Investing (RPI) as an investment strategy. Preston Sargent, Principal at Kennedy Associates, will moderate a discussion with David Wood, Director of the Institute for Responsible Investment at Boston College, and Andrew Szyman, Sustainability Manager at F&C REIT Asset Management plc. The panelist will first present the recently-released UNEP FI Responsible Property Investment Toolkit on "Committing & Engaging" and then discuss concrete steps towards integrating RPI into governance and management structures and to engaging with other stakeholders in developing the field. There will be a Q&A at the end. Time: 16.00 GMT To register for the webinar, please visit: https://www2.gotomeeting.com/register/510628779 Owner-Tenant Engagement in Responsible Property Investing The report, by the UNEP Finance Initiative Property Working Group, presents leading examples of property owner-tenant engagement activities aimed at furthering Responsible Property Investing (RPI), meaning property investment, development and management strategies that go beyond compliance with minimum legal requirements in order to address environmental, social and governance issues. The report supplements other material already published by the UNEP FI Property Working Group (PWG) on what leaders are doing in energy conservation, green building, fair labour practices and many other aspects of RPI. Authored by Gary Pivo, an advisor to the PWG and a professor at the University of Arizona, it contains case histories from companies including CBRE, GPT, PRUPIM, bcIMC, Investa, Land Securities, Hermes Real Estate and Kennedy Associates. Downloaded the report: http://www.unepfi.org/fileadmin/documents/TenantEngagementReport.pdf Sustainable Investment in Real Estate – Your Fiduciary Duty This publication examines the argument that it is the fiduciary duty of trustees and investors to understand and consider Sustainable Investment issues when looking at investing in real estate. There is a growing body of evidence which suggests that real estate with sustainable characteristics can generate superior returns or at the very least “future-proof” an investment. This article concludes that it is the fiduciary duty of trustees and investors to understand and consider Sustainable Investment issues when looking at investing in real estate. The publication’s main author was Hoong Wey Woon, member of the UNEP FI Property Working Group and a Fund Manager at Aviva Investors. Download the report: http://www.unepfi.org/fileadmin/documents/SustainableInvestmentinRealestate.pdf
The Place to Meet After Copenhagen! Global Finance and Investment at GLOBE 2010 24-26 March, 2010, Vancouver, Canada: The timing of GLOBE 2010 is perfect for a major gathering of senior stakeholders drawn from the different aspects of the international investment community. By March next year, the worldwide financial services and investment sector will have a clearer idea of how global climate policy stemming from the Copenhagen UN Climate Change Summit will impact on green jobs, clean technology, environmental infrastructure, and carbon-related markets. Occurring after Copenhagen and before the G8/G20 meetings scheduled for June 2010 in Ontario, Canada, GLOBE will provide an in-depth look at the interaction between climate policy, capital markets, and the prospects for a burgeoning low carbon boom in both developed and developing markets. GLOBE 2010 is proud to be working in cooperation with UNEP-FI and the Principles for Responsible Investment (PRI) to develop a number of sessions exploring the interaction between climate policy, capital markets, and the role of the financial community in shaping a low-carbon economy. Join us in Vancouver! For more information: http://www.globe2010.com March date for CleanEquity Monaco 2010 The CleanEquity Monaco 2010 meeting will take place on March 4-5, 2010. CleanEquity, billed as ‘the foremost event for next generation clean and green technology’ will feature products from the world’s most inspiring cleantech companies as well as discussions on climate trends, industry themes and funding strategies. UNEP FI is proud to be one of the sponsors of this invitation-only event, which attracts industry, financial and strategic investors, policy makers, legislators and the media.
UNEP FI Asset Management Working Group’s “Materiality III” report exclusively tackles climate change The third iteration of UNEP FI Asset Management Working Group’s ground-breaking “Materiality series” is dedicated to addressing the global sustainability issue of climate change. The full version of the report, The Materiality of Climate Change – How finance copes with the ticking clock - known as “Materiality III” was launched just weeks before the critical UN Climate Change Conference in Copenhagen at the UNEP FI Global Roundtable workshop, “Copenhagen and beyond – The role of finance in climate change” which involved climate change and finance experts from Eurizon Capital, HSBC, Munich Re, Standard Chartered Bank, and the UN Framework Convention on Climate Change. The Materiality series started in 2004 with The Materiality of Social, Environmental and Corporate Governance Issues to Equity Pricing (“Materiality I”) and followed in 2006 by Show Me The Money: Linking Environmental, Social and Governance Issues to Company Value (“Materiality II”). Download the report: http://www.unepfi.org/fileadmin/documents/materiality3.pdf UNEP FI Asset Management Working brings its fiduciary duty report to South Africa The UNEP FI Asset Management Working Group re-launched the sequel to its landmark 2005 “Freshfields Report”. This 2009 follow-on report, Fiduciary Responsibility – Legal and practical aspects of integrating environmental, social and governance issues into institutional investment, provides a legal roadmap for fiduciaries looking for concrete steps to operationalize their commitment to responsible investment. The 2005 “Freshfields Report” has, until now, has arguably been the single most effective document for promoting the integration of environmental, social and governance (ESG) issues into institutional investment. The 2009 report - termed “Fiduciary II” - is particularly relevant to the South African institutional investment community. In a recent article by Responsible Investor, Paul Watchman, the principal author of the Freshfields Report said: “Given South Africa’s legal DNA and leadership on responsible investment generally, it is especially the case in South Africa that the fiduciary duties of pension fund trustees require them to be prudent and to take professional advice on their investments.” Read the official UNEP press release: http://www.unepfi.org/fileadmin/documents/fiduciaryIIpress.pdf Download the report: http://www.unepfi.org/fileadmin/documents/fiduciaryII.pdf
UNEP FI Insurance Working Group unveils ground-breaking report on the global state of sustainable insurance The UNEP FI Insurance Working Group has launched a first-of-a-kind report exploring the complex relationship between environmental, social and governance (ESG) factors, core insurance operations, and the insurance industry. The report, titled, The Global State of Sustainable Insurance – Understanding and integrating environmental, social and governance factors in insurance 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. Press release: http://www.unepfi.org/fileadmin/documents/global-state-of-sustainable-insurance-press-release.pdf Download the report: http://www.unepfi.org/fileadmin/documents/global-state-of-sustainable-insurance.pdf
One new UNEP FI Signatory sustainability report Shinhan Bank - 2008 Corporate Social Responsibility Report: “Towards a better society” Do not reply to the ebulletin email address. For information on UNEP-FI and its activities, email fi@unep.org To unsubscribe: The UNEP FI e-bulletin is a monthly publication of the United Nations Environment Programme Finance Initiative. Chief Editor: Paul Clements-Hunt Disclaimer: |
