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New International Resource Panel Report Provides Routes to Integrating REDD+ into Green Economy Approaches

21 March, 2014

An investment of US $30 billion per year — under seven per cent of the US $480 billion paid in annual global fossil fuel subsidies — in the REDD+ forest conservation initiative can accelerate the global transition to green and sustainable growth and ensure the long-term wellbeing of tens of millions in developing countries, a new report released today said.

Building Natural Capital: How REDD+ Can Support a Green Economy, a report by the International Resource Panel (IRP) and the UN-REDD Programme, outlines how integrating REDD+ programmes into a Green Economy approach can conserve and even boost the economic and social benefits forests provide to human society.

The IRP report lays out recommendations to deliver the new integrated REDD+ and Green Economy approach, including better coordination, stronger private sector engagement, changes in fiscal incentive frameworks, greater focus on assisting policymakers to understand the role forests play in propping up economies, and equitable benefit sharing. The report stresses in particular the needs for a rights-based approach to ensure that benefits flow to the rural poor.

View the publication here.

View the press release here.

 

Energy Efficient Measures in Building Retrofits Can Deliver Increased Profits and Address Climate Change

26 February, 2014

Energy efficient buildings can deliver up to 20 per cent reduction in energy consumption and provide an overall better market value for investors, says a new report by the UNEP Finance Initiative. Buildings account for approximately a third of the world's energy consumption and global greenhouse gas emissions, and are a high-impact sector for urgent mitigation action on climate change.

"As building owners and operators, real estate professionals have an opportunity to reduce energy consumption and greenhouse gas emissions while increasing the value of their real estate assets," said Charles Anderson, Director, UNEP Finance Initiative. "The paper strives to show investors that there are options available for all property mixes, and that possessing and managing the right information is crucial to unlocking the energy efficiency retrofit potential."

Read the publication here.

View the press release here.

See the event page here.

Further briefings on the report will be held on:

10 April in Vancouver (more information)

15 April in Brussels (more information)

 

Former CEO to Steward UNEP’s Financial Partnership

24 February, 2014

Charles Anderson, former CEO of Sovereign, New Zealand’s largest life and health insurance business, has joined UNEP to head up its Finance Initiative.

Mr. Anderson has more than 30 years of experience in the financial sector and has played key leadership roles in integrating Environmental, Social and Governance concerns into the private sector. As CEO of Sovereign, he was active in the global process that produced the landmark Principles for Sustainable Insurance (PSI) launched at Rio+20 by UNEP FI.

Previously he worked at Aviva as Managing Director for Asia Pacific and was an Associate of UK based Leader’s Quest, a not-for-profit promoting social change. He has also served as a Board member of the New Zealand Council for Sustainable Business Development and as Deputy Chair of the Financial Services Council in New Zealand.

David Pitt-Watson, Co-Chair of UNEP FI, said, "We are delighted to have Charles as our new director at this critical time. Over the coming months world leaders are engaged in intense discussions to reach agreement on how we secure a framework for the sustainable development of the planet. We all recognize that the purpose of the finance industry is to fund that development. As policy makers and as financiers we face a huge challenge, and a huge opportunity. UNEP FI’s unique partnership is precisely the sort of organization which can address that challenge and respond to the opportunity”.

View the press release here.

Read Charles' Bio here.

 

New Report Calls for US$12bn Boost for pre-2020 Emission Reductions from Forests and Land Use

31 January, 2014

A new report, Stimulating Interim Demand for REDD+ Emissions Reductions, from the Interim Forest Finance Project - a collaboration of the Global Canopy Programme, the Amazon Environmental Research Institute, Fauna & Flora International, and UNEP Finance Initiative - reveals that demand for REDD+ emission reductions could be as little as 3% of the supply between 2015 and 2020. The report explains the risks of doing nothing, and outlines a suite of options for increasing demand.

View the publication here.

View the press release here.

 

Inquiry into the Design of a Sustainable Financial System

23 January, 2014

The United Nations Environment Programme (UNEP) launched an Inquiry today into policy options for guiding the global financial system to invest in the transition to a green economy. In the wake of the global financial crisis, there is growing recognition that the financial system must be not only sound and stable, but also sustainable in the way it enables the transition to a low-carbon, green economy. The Inquiry, extending over 18 months to mid-2015, aims to engage, inform and guide policy makers, financial market actors and other stakeholders concerned with the health of the financial system and its potential for shaping the future economy.

David Pitt-Watson, Co-Chair of UNEP FI, said: "The world's financial institutions are there to finance a growing, sustainable economy, but the evidence suggests that, today, the industry performs that task poorly. The Inquiry will support the urgent need to reshape a practical and agreed agenda of reform that ensures that the finance industry fulfills its purpose."

More information here.

 

Green Growth Knowledge Platform Launched

22 January, 2014

A robust, state-of-the-art knowledge-sharing platform was launched today by the newly established Green Growth Knowledge Platform (GGKP), a diverse consortium of leading institutions and organizations working in areas related to green growth and green economy.

The website is in response to increasing demand from both policy makers and the public for information on ways to achieve sustainable economic growth.

The website – which features a searchable e-library with over 600 technical and policy resources, as well as dashboards with data and policies for 193 countries – transcends the traditional divide between economy and the environment.

More information here.

 

ESRA Training

15 January, 2014

2014 Calendar - ESRA Online Training Programme


Upcoming Courses in 2014:

The dates of the ESRA Online Course in French will be determined soon.

More information here.

 

Climate Change Training

15 January, 2014

2014 Calendar – Climate Change: Risks and Opportunities for the Finance Sector Online Course


Upcoming Course in 2014:


More information here.

 

Warsaw Exchange Joins the SSEI

17 December, 2013

The Warsaw Stock Exchange (WSE) has joined the Sustainable Stock Exchanges (SSE) initiative with representatives of the WSE signing a Voluntary Commitment Letter in a ceremony held in Warsaw.

WSE is the ninth exchange to join SSE, the first SSE participant in Central and Eastern Europe and the first European participant other than exchange groups. The SSE partners are NYSE Euronext, NASDAQ OMX, Borsa Istanbul, BM&FBBovespa (Brazil), the Bombay Stock Exchange, the Egyptian Exchange, the Johannesburg Exchange, and the Nigerian Stock Exchange.

Read the press release here.

More information here.

 

Insuring Climate Resilience

10 December, 2013

UNEP FI recently released the Insuring Climate Resilience report as part of its COP 19 activities. This study, based on a survey among over 50 private sector insurance companies worldwide, explores how insurance companies and governments can work together to provide to vulnerable communities, particularly in developing countries, access to the insurance services needed to better cope with weather extremes.

View the publication here.

 

WWF Learning Series: REDD+ Finance Webinar

4 December, 2013

UNDP and UNEP FI jointly presented on REDD+ finance in the December webinar of the WWF Learning Series. In this learning session, an overview of the operational modalities of REDD+ financial arrangements at the national level was presented as well as a discussion on some topline lessons learned from REDD+ finance work so far. UNEP Finance Initiative shared perspectives on private sector results-based payments.

The webinar recording is available here.

 

Frankfurt Working Group Meeting on Climate Finance

3 December, 2013

On 2-3 December UNEP, Bloomberg New Energy Finance, and the Office of the UN Secretary General, jointly convened a meeting to discuss how the finance sector could make a meaningful contribution to the Secretary General's Leaders Summit on Climate Change in September of 2014. Over 40 organisations participated and crafted a detailed work-programme going forward.

 

UNEP FI strengthens its outreach in South Africa

29 November, 2013

The United Nations Environment Programme Finance Initiative (UNEP FI) officially welcomed its most recent member in South Africa on 29th November. The membership of The Land and Agricultural Bank of South Africa (Land Bank) became official at a signing ceremony held in Pretoria after Mr. Phakamani Hadebe, CEO of Land Bank, and Ms. Madeleine Ronquest, UNEP FI Co-Chair signed the ‘UNEP Statement by Financial Institutions on Sustainable Development’.

This event marks an important step in Land Bank’s journey towards an integration as a responsible member of the global economy, with the launch of the bank’s Environmental and Social Sustainability Programme. ‘We are proud of welcoming Land Bank as part of the UNEP FI family and its African Task Force’ said Madeleine Ronquest, UNEP FI Co-Chair and Chair of the African Task Force.

 

From Rio+20 to Beijing 2013: Principles for Sustainable Insurance Initiative reaches next milestone

29 November, 2013

The UNEP FI events in China's capital in November 2013 represented another milestone in the transformational journey of the UNEP FI Principles for Sustainable Insurance (PSI) Initiative, which was launched at the 2012 UN Conference on Sustainable Development (Rio+20). Endorsed by the UN Secretary-General, Ban Ki-moon, the landmark principles have quickly led to the largest collaborative initiative between the United Nations and the insurance industry.

At the 2nd PSI Annual General Meeting, a three-year PSI strategy was approved. The strategy was developed by the PSI Board this year in consultation with PSI signatories and supporters worldwide and a range of key stakeholders, setting the direction for the global initiative in the ..... Read more

 

Launch of the UNEP FI Online Guide to Banking & Sustainability

28 November, 2013

Since its launch at the GRT, the Online Guide to Banking & Sustainability, a tool to help bank employees actively integrate ESG issues into their work by learning from best practice case studies, is quickly becoming a global reference for banking institutions.

Integrating sustainability issues into the blue-print of banking institutions is no small task, as the session at the GRT, Evolution Revolution: Making the shift to Sustainable Banking, made clear. Following the launch of the paper version in 2011, the online version homes in on the specific meaning of sustainability for the different areas of a bank and collates a wealth of current practices and approaches deployed by UNEP FI Members in each of these areas.

Visit the Online Guide to Banking & Sustainability at www.unepfi.org/bankingguide

 

UNEP FI / GHGP Process to Develop Finance Sector Guidance on GHG Reporting and GHG Risk Assessment

27 November, 2013

UNEP FI and GHG Protocol invite interested stakeholders to participate in a technical working group for the development of a financial sector GHG accounting guidance and carbon asset risk guidance. Please see the Terms of Reference for details about the Technical Working Group process and this link to Survey Monkey where you can express your interest in participation.

If you are interested in participating, please complete the survey by December 17. We plan to launch the Technical Working Group process in January, 2014. We hope you will consider engagement in our process.

For more information on the GHG Protocol/UNEP FI Financial Sector Guidance go to the project website.

 

Towards a Global Agreement on Climate Change - UNEP FI at the UNFCCC Warsaw COP

26 November, 2013

As world governments gathered in Warsaw to lay the foundations for a process that over the next two years will build a global deal on climate change, it became clear again that the mobilization of climate finance will be a central, make-or-break issue. UNEP FI's natural role is to support the design of a climate finance agenda that is effective in achieving the required reallocation of capital from the conventional to the low-carbon and climate-resilient economy.

In Warsaw, through a series of interventions, events, high-level statements, and publications, UNEP FI deepened, to that effect, its engagement with the multilateral process on three issues of critical importance: i) Mobilising private climate finance through the Green Climate Fund; ii) Phasing out deforestation from global supply and investment chains; and iii) Enhancing access to weather ..... Read more

 

Letter to the Financial Times: We must demystify finance for a low-carbon path

25 November, 2013

In a recent letter to the Financial Times, Madeleine Ronquest, Co-Chair of the UNEP Finance Initiative, explained that any new approach to a sustainable future will need to include low-carbon markets, arguing that the current mix of investments, subsidies and low prices is driving us further down a carbon-intensive path. Outlining that the challenge is not in finding private funding, but rather in mobilising the funding to where it needs to go and in finding ways to bridge the barriers standing in its way, Madeleine wrote it was "clear from the discussions in Beijing (2013 UNEP FI Global Roundtable) that financial institutions stand ready to do their part, but greater transparency and clearer (and more stable) incentives and regulations are essential if investors are to be encouraged to do what is right for both themselves and the planet".

Please click here to read the full letter as published in the Financial Times.

 

A picture says a 1000 words

22 November, 2013

Over the two days in Beijing, you might have seen our hard-working photographers hovering around the session rooms. As a result, we are now pleased to present some selected snapshots for your viewing. If you are after a specific photo, please contact the GRT Team.

 

Leading Global Finance Institutions Come Together to Finance the Future We Want

21 November, 2013

In the same week that China’s leaders set a new path for economic reform, the world’s premier financial organizations met in Beijing to discuss whether the world has the capability to finance the environmental challenges it faces. At the heart of the talks lies how to realign the financial system to finance a low-carbon, resource-efficient and sustainable ..... Read more

View the English Press Release here.

View the Chinese Press Release here.

More information here.

 

2013 Global Insurance Industry Statement: Building Climate and Disaster-Resilient Communities and Economies

19 November, 2013

UNEP FI in partnership with ClimateWise and the Munich Climate Insurance Initiative (MCII), developed a joint statement that sets out a number of key areas of action that insurers have agreed to take forward, and recommendations for the wider multilateral community. The statement was first presented for discussion at the Caring for Climate Business Forum at the UNFCCC COP in Warsaw Poland on 19 November.

View the statement here

 

A Green Conference: 559 tonnes were Offset

14 November, 2013

A main priority in the planning of the 2013 UNEP FI Global Roundtable was to achieve a carbon neutral event. With thanks to our Carbon-Neutral partners, the China Beijing Environmental Exchange and the Bank of China, we were able to offset 559 tonnes. At the end of the two-day conference, Mr Shaozhong Du, Chairman of the China Beijing Environmental Exchange presented Ms Yuki Yasui ..... Read more

More information here.


 

Day 2 wrap up: The future of finance...

13 November, 2013

Day two of the Global Roundtable, following on from "changing finance" on the previous day, focused on "financing change", in particular on mobilizing finance to foster a more sustainable economy. With sessions focusing on emerging economies, energy efficiency, ESG metrics, capacity building, scientific data, societal issues, and leadership, participants delved into the multiple facets of Sustainable Finance. Many participants were pleasantly surprised to find that emerging economies from Asia, Africa and Latin America were leading the way in innovative financial policies that promote a green economy.

The session on scientific data called for policy-makers and regulators to not ignore science in decision-making, but embrace it to have a better understanding of meta and other environmental trends. Culminating in Plenary 4, The Way Forward for Sustainable Finance, the Global Roundtable ended with a look back at the origins of finance, and its fundamental purpose in society, as well as predictions for the future of finance.

More information at www.unepfi.org/grt

 

Day 1 of the 2013 Global Roundtable an Overwhelming Success

12 November, 2013

Day 1 of UNEP FI's 2013 Global Roundtable was a overwhelming success, with over 400 participants attending the first day's sessions. Opening with remarks from UNEP FI's Co-Chairs, David Pitt-Watson and Madeleine Ronquest, a welcome message from His Royal Highness, the Prince of Wales, and speeches from Sha Zukang, Achim Steiner, and Jianping Zhao, the focus moved to the banking, insurance and investment industries.

The launch of the Online Guide to Banking and Sustainability was undoubtedly a highlight, a tool that helps banks to understand and implement sustainability based on the UNEP Statement of Commitment by Financial Institutions on Sustainable Development. Ending the day, Plenary 2, asked speakers to discuss the "big" questions of how to mainstream sustainability in the financial system and where the leadership to do this will come from. Achim Steiner, Wanchun Zheng, Jim Leape, Michel Liès, and Cao Wenlian, all concluded that this leadership must come from both the public and private sectors if a sustainable financial system is to be realized.

More information at www.unepfi.org/grt

 

UNEP FI 2013 Global Roundtable

29 October, 2013

UNEP FI is pleased to invite you to attend this coming November the UNEP FI Global Roundtable, the Principle event of the Sustainable Finance Week. For more information, please visit www.unepfi.org/grt.

 

New Guidance Will Help Financial Institutions Measure Emissions from Lending and Investment Portfolios

29 October, 2013

In 2013, only six percent of financial companies in the FTSE Global 500 reported any emissions associated with lending and investment portfolios to CDP. To address this gap, the Greenhouse Gas Protocol (GHG Protocol) and the United Nations Environment Programme Finance Initiative (UNEP FI) have begun developing guidance to help financial intermediaries assess the emissions from their lending and investments portfolios. In October, UNEP FI and WRI hosted the first Advisory Committee meeting on Greenhouse Gas Protocol Financial Sector Guidance to begin the guidance development process. The guidance will be a supplement to GHG Protocol’s Corporate Value Chain (Scope 3) Standard.

View the Press Release here.

 

Kenya’s Banks Chart Way forward to Promote Sustainable Finance and Build Industry Wide Capacity

10 September, 2013

The Kenya banking industry, through their umbrella body the Kenya Bankers Association (KBA), during a CEO Roundtable meeting held on 10 September 2013 approved a move forward to create a joint initiative, the KBA Sustainable Finance Initiative (SFI), that promotes best practice in sustainable finance. The role of the SFI would be to explore opportunities for industry alignment while building industry wide capacity in the area of environmental and social risk management, in line with the country’s long-term development plans as outlined in the Government’s Vision 2030.

Read the press release here.

More information here.

 

New York Stock Exchange joins the Sustainable Stock Exchanges Initiative

24 July, 2013


United Nations Secretary-General Ban Ki-moon visited the New York Stock Exchange (NYSE) to commemorate NYSE Euronext joining the United Nations Sustainable Stock Exchanges (SSE) initiative which is conveyed by UNEP FI together with UN Global Compact, UNCTAD and the PRI. SSEI explores how exchanges can work together with investors, regulators, and companies to enhance corporate transparency on environmental, social and corporate governance (ESG) issues and encourage responsible long-term approaches to investment.

View the Press Release here.

More information here.

 

Publication

19 July, 2013

UN, Major Investment Firms Call for Increased Focus on Carbon Risk Management and Carbon Accounting in Investment Industry

The United Nations Environment Programme Finance Initiative launched a new Investor Briefing today that explains why and how institutional investors should start measuring, disclosing and reducing the greenhouse gas (GHG) emissions associated with their investments and investment portfolios. The briefing argues that not only can institutional investors play a catalytic role in the decarbonization of the economy, but increasingly, regulators, policy-makers, investee companies, pension beneficiaries and the public at large are expecting investors to fulfill precisely that responsibility.

View the Report here.

View the article in the Guardian here.

View the Press Release here.

More information here.

 

Principles for Sustainable Insurance create largest collaboration between United Nations and insurance industry

19 June, 2013

World’s insurers publicly disclose progress in implementing global principles a year after launch at UN Conference on Sustainable Development

Geneva/Nairobi/Sydney/Zurich, 19 June 2013—A year after their launch to support the aims of the UN Conference on Sustainable Development in Rio de Janeiro, the Principles for Sustainable Insurance (“PSI” or the “Principles”) have led to the largest collaborative initiative between the UN and the insurance industry, aimed at propelling environmental, social and economic sustainability.

Some 60 leading insurers, insurance market bodies and international organisations have embraced the landmark Principles, doubling the number from last year’s launch. The Principles were developed by the UNEP FI through a six-year global process. They seek to strengthen the insurance industry’s resilience and its contribution to building sustainable communities and economies.

The Principles have catalysed a pioneering initiative to tackle environmental, social and governance issues relevant to both the insurance business and sustainable development. These include key issues such as climate change and extreme weather events, environmental degradation, insurance access and affordability, ageing populations, good governance and ethical business practices.

See the UN press release here.

See the 2013 video message from the UNEP Executive Director here.

See the 2012 keynote address by the UNEP Executive Director here.

Learn more at www.unepfi.org/psi

 

Publication

17 May, 2013

Natural Capital Declaration Roadmap

UNEP FI would like to announce the release of the Natural Capital Declaration (NCD) Roadmap. The Roadmap sets out a plan, providing preliminary guidance on how the four commitments in the Natural Capital Declaration can be implemented by the finance industry.

The release of the NCD Roadmap marks the transition from phase I of the NCD to phase II. Phase I refers to the preparation period that included six consultation workshops over an 18 month period in 2010 and 2011, which led to the launch of the Natural Capital Declaration at the Rio+20 Earth Summit in June 2012. By the time of the launch, the NCD had been endorsed by the CEOs of 37 financial institutions. Phase II of the NCD focuses on enabling financial institutions to implement the four core commitments through the development of the appropriate tool, metrics and frameworks. The NCD Roadmap lays out this process and provides a framework for the activities each of the four Working Groups, tasked with incorporating Natural Capital considerations into the financial decision making process.

View the publication here.

 

UNEP FI Community

15 April, 2013

Grupo Financiero Banorte connects with UNEP FI

Grupo Financiero Banorte, currently the third largest banking institution in Mexico measured by size of loans and deposits, is very proud to join UNEPFI.

In the words of their CEO Alejandro Valenzuela, they recognize that, “the world can no longer free ride or shut its eyes to the motion of natural capital. Its incorporation in any business decision will be critical if we truly desire a sustainable development in the global ecosystem. This is not an option, it is a necessity for our present and future well-being"

Grupo Financiero Banorte recognizes that sustainability is a journey and are proud to work alongside global financial institutions in pursuit of a green economy.

UNEP FI currently counts 5 members from Mexico. All are banks.

More information here.

 

News

5 December, 2012

Leading Property Investors Embrace Sustainable Decision Making

New Report Outlines How Leading Real Estate Investors are Integrating Responsible Property Investment Principles into their Investment Decisions

The today released report by the United Nations Environment Programme Finance Initiative (UNEP FI), Responsible Property Investment – What the leaders are doing 2nd edition outlines how leading global real estate investors are integrating environmental, social, and governance (ESG) criteria into the different stages of their investment processes.

The field of Responsible Property Investment (RPI) has gained increasing prominence and acceptance among real estate investors in both developed and developing countries over the past few years.

This report looks at each stage of the investment process and highlights case studies of what some of the foremost property investment organisations around the world have been doing to apply RPI principles within their decision-making, thereby improving the environmental and social performance or governance of their property portfolios.

View the publication here.

View the press release here.

 

News

5 December, 2012

Creating the “New Normal”

Perspectives on Financing Sustainable Development in the wake of Rio+20

In June 2012, the world’s leaders set in motion an intergovernmental process to develop ‘an effective Sustainable Development Financing Strategy to facilitate the mobilization of resources and their effective use in achieving sustainable development objectives'.

The Members of UNEP FI welcome this decision and are keen to assist a process that could be instrumental in bringing about adequate, low cost finance to address issues of sustainable development. Creating the New Normal aims to shed light on some of the issues which negotiators may wish to incorporate in their discussions going forward, identifying key points which it deems key for the development of a meaningful and successful sustainable development financing strategy.

View the report here.

 

News

20 November, 2012

World's Largest Investors Call for More Decisive Action by Governments on Climate Change

Representing trillions in assets under management, UNEP FI and global investor groups issue open letter to governments in wake of US President Obama’s re-election and Chinese leadership change

Institutional investor networks representing the world’s largest investors today published an open letter addressed to governments of the world’s largest economies calling for a new dialogue on climate change policy in order to avert dangerous climate change and its resulting economic impacts. The letter, announced ahead of international climate negotiations in Doha calls for:

  • Clear, consistent and predictable policies that encourage low carbon investment;
  • Knowledge sharing between governments on effective climate and clean energy policies, building on successful existing national and regional measures;
  • Stronger international agreements that send clear market signals about the future of climate policy and reductions in greenhouse gas emissions

View the open letter here.

View the press release here.

 

News

19 November, 2012

E-RISC: A New Angle on Sovereign Credit Risk report successfully launched in London

The E-RISC report was successfully launched today at a well-attended event, hosted by Bloomberg. It was initiated by UNEP FI, Global Footprint Network and a number of asset owners, investment managers and information providers.

The E-RISC (Environmental Risk in Sovereign Credit) project investigates sovereign credit risk from an angle that has been largely overlooked by bond markets to date: natural resource risks and environmental impacts. The project explored to what extent natural resource risks can impact a country’s economy and thus, its ability to pay its debts. With a current total of more than USD 40 trillion of outstanding sovereign debt, the stakes are high and the issue demands closer inspection.

Results provide a first insight into how factors such as resource prices, ecosystem degradation, and climate change impact national economies and provides a sense of how these criteria can be factored in sovereign credit risk models and hence in selection and weighting of sovereign bonds and sovereign credit ratings.

More information here.

Register for the E-RISC launch event in New York (12 December)

 

Publication

18 November, 2012

Launch of Chief Liquidity Series III

The third issue of the Chief Liquidity Series focuses on a number of sub-sectors within the broader extractive sector and was launched at event hosted by Societe Generale in Paris on 30 October.

Bringing together representatives from finance, industry, NGOs, consultants and the research community the event explored how water risks and opportunities are currently dealt with by the finance sector and industry. The second part of the highlight highlighted what metrics are currently in place to help the private sector understand, assess and deal with water-related risks.

View the publication here.

More information here.

 

Project

2 November, 2012

Launch of the E-RISC report in Sydney, London and New York

Following an 18 month preparatory period in 2010 and 2011, the E-RISC (Environmental Risk in Sovereign Credit analysis) kicked off in 2012 with the objective to assess the materiality of natural resource risks and environmental impacts for sovereign credit risk. It was initiated by UNEP FI, Global Footprint Network and a number of asset owners, investment managers and information providers.

We invite UNEP FI members and the wider financial community active in (sovereign) fixed income to join us for events that are scheduled in Sydney (9 November), London (19 November) and New York (11 December).

More information here.

Register for E-RISC event Sydney (9 November)

Register for E-RISC event London (19 November)

Register for E-RISC event New York (12 December)

 

 

Publications

26 July, 2012

UNEP FI and a series of partners took the first steps of a project that will evaluate the ability of existing incentives within capital markets to drive sustainability with the launch of a working paper.

Tomorrow’s Capital Markets represents the first phase of a long-term effort that aims to scrutinise sustainability the effectiveness of the current incentives structure and correct its most blatant flaws.

The paper identifies the complexity of incentives faced by different actors along the investment chain and flags some of the fundamental challenges – from communication gaps to the lack of viable metrics – arising from this intricate web.

Tomorrow’s Capital Markets also extends an invitation to all parties interested in developing this agenda to partake in dialogues scheduled throughout 2012-13. The initiative will culminate with a major presentation of findings and proposals in the fall of 2013.

More information and full download here.

 

UNEP FI Publications

23 July, 2012

Creeping environmental, social, and governance risks a threat to financial stability, says new report

Policy-makers and financiers seeking to bring equilibrium back to the markets should heed the thinking of financial sustainability advocates to stay clear of creeping environmental, social, and governance risks, according to a joint report by the UNEP Finance Initiative, the International Institute for Sustainable Development, and the Blended Capital Group.

Released today, Lenses and Clocks: Financial stability and systemic risks, argues that post-financial crisis efforts to shield the economy from volatility must be extended to include emerging sources of instability in the environmental, social, and governance realms if markets are to achieve robust growth and create wealth for all.

The report contends that the imperative of detecting long-term financial risks – a lesson of the recent financial crisis – requires a heightened perception for unconventional, long-term risk.

Such long-term but steadily growing risks include climate change, resource depletion, social upheaval, and other risks stemming from environmental, social, and governance phenomena – all of which are seldom identified and assessed by financial analysts, and therefore too rarely managed by financial institutions.

“Understanding these threats will inform the choices we make to benefit from the opportunities ahead of us and, in doing so, improve life of billions of our fellow human beings, rebuild the planet’s natural capital and foster markets based on fairness and equality,” said the Rt. Hon. Gordon Brown MP, whose recent counsel on financial stability and sustainability to the UN Secretary General’s High Level Panel on Global Sustainability informed the report.

More information and full download here.

 

UNEP FI News

9 July, 2012

UNEP FI connects with UN climate change convention secretariat on role of finance

UNEP FI is among stakeholders who, at the demand of global regulators, have fleshed out the current and future role of finance in the architecture of the global climate change treaty at a Bonn workshop.

The three-day workshop in Bonn follows the recent decision by parties of the UN Framework Convention on Climate Change (UNFCCC) to develop a work program on long-term finance which should be rolled out throughout 2012.

"I would argue and I think most UNEP FI members would argue that private sector finance is a stronger driver of efficiency because it has profitability incentives", said Geoff Sinclair, head of carbon trading at UNEP FI member institution Standard Chartered, who partook in a session on scaling up the mobilization of climate change finance.

The UNFCCC confirmed the creation of a Green Climate Fund – a mechanism to assist the developing countries in adaptation and mitigation practices to counter climate change – at its 16th Conference of the Parties in Cancun, Mexico.

More information here.

 

News from Rio

21 June, 2012

Brazil, Denmark, France and South Africa join in commitment to sustainability reporting

Today a group of leading governments joined together to commit to corporate sustainability reporting, in support of paragraph 47 of the UN Conference on Sustainable Development – Rio+20 – outcome document.

UNEP FI has been a vocal advocate of the inclusion of corporate sustainability reporting as one of the conference's deliverables, as detailed in its Rio+20 Position Paper.

With the commitment, Brazil, Denmark, France, and South Africa are forming a group of ‘friends of paragraph 47’ to advance corporate sustainability reporting, and to that effect they have invited the UNEP FI-backed Global Reporting Initiative and the United Nations Environment Programme to support them.

Making sustainability reporting standard practice among companies will contribute to monitor the impacts on and the contribution to sustainable development by the corporate sector.

More information here.

 

News from Rio

19 June, 2012

UNEP FI and world’s insurers launch global insurance principles at Rio+20 to propel sustainable development

Close to 30 leading companies from the insurance industry, worth over USD 5 trillion in total assets and representing over 10 per cent of world premium volume, together with insurance associations from different regions around the world, have joined a UN-backed process to promote a set of Principles for Sustainable Insurance that aim to green the sector and provide insurance tools for risk management in support of environmental, social and economic sustainability.

The Principles provide a holistic approach to managing a wide range of global and emerging risks in the insurance business, from climate change and natural disasters to water scarcity, food insecurity and pandemics.

They represent the first-ever global sustainability framework tailored for the insurance industry that takes into account the fundamental economic value of natural capital, social capital and good governance.

More information here.

 

News from Rio

19 June, 2012

PSI launch webcast

 

News from Rio

19 June, 2012

Exchanges listing over 4,600 companies commit to promoting sustainability

A core group of five stock exchanges - NASDAQ OMX, BM&FBOVESPA, the Johannesburg Stock Exchange (JSE), the Istanbul Stock Exchange (ISE) and The Egyptian Exchange (EGX) - announced a commitment to promote long-term, sustainable investment in their markets.

The endorsements came during the UNEP FI-co-convened Sustainable Stock Exchanges 2012 Global Dialogues, held at the Corporate Sustainability Forum in Rio de Janeiro.

It comes amid high-profile discussions among governments on the role of the private sector - including finance - in building a green economy and the importance of corporate sustainability reporting, on the eve of Rio+20.

The leading exchanges, with over 4,600 listed companies in developed and emerging markets, have voluntarily committed to work with investors, companies and regulators to promote long-term sustainable investment and improved environmental, social and corporate governance disclosure and performance among companies listed on their exchange.

More information here.

 

Events

18 June, 2012

Green Growth Action Alliance launched at the B20 Summit

The UNEP FI-backed Green Growth Action Alliance, a new partnership initiative addressing the estimated USD 1 trillion annual shortfall in green infrastructure investment, was launched at the Business 20 (B20) Summit in Los Cabos, Mexico.

As first concrete step, the Alliance will assist Mexico in unlocking private finance to reduce green house gas emissions by 30 percent by 2020.

In partnering with the Mexican government the Alliance will identify key roadblocks, design strategies to overcome them and draw in private finance.

The Alliance, which is also referred to as G2A2, includes dozens of the world’s largest energy companies, international financial institutions, and development finance institutions.

More information here.

 

News from Rio

18 June, 2012

Far-reaching study on sustainability in Latin American banking sector launched at Rio+20

UNEP FI and the Latin American Bank Federation, FELABAN, released at a Rio+20 side-event the results of a pan-Latin American study on the integration of sustainability principles among banks of the region with the report Integracion de la sostenabilidad en las instituciones financieras Latinoamericanas.

Conducted among 85 financial institutions in 19 countries, the study is the most important effort ever undertaken in the region on this subject.

The report includes 19 case studies of good practices.

It crowns a recently agreed partnership between UNEP FI and FELABAN that has infused with new vigour the march towards sustainable finance in Latin America.

More information and full download here.

 

New from Rio

16 June, 2012

37 finance CEOs announce commitment on natural capital at Rio+20

CEOs at the helm of 37 banks, investment funds, and insurance companies announced a far-reaching commitment today to work towards integrating natural capital considerations into their products and services, at the United Nations Conference on Sustainable Development, or “Rio+20”.

With the unveiling of their ‘Natural Capital Declaration’, the financiers commit their companies to help build an understanding of their impacts and dependencies on natural capital; embed natural capital into their products and services; report or disclose on the theme of natural capital; and account for natural capital in accounting frameworks.

It is the first statement of its kind to be signed only by the CEOs of financial institutions– a requirement that aims to ensure that endorsement translates into concrete actions.

The Declaration is co-convened by UNEP FI, the Oxford-based tropical-forest group Global Canopy Programme, and the São Paolo-based Center for Sustainability Studies (GVces) of the Business Administration School of the Getulio Vargas Foundation.

More information here.

 

In the Press

1 June, 2012

Corporate sustainability reporting in focus in opinion piece from UNEP FI’s David Pitt-Watson

The time is ripe for a global policy framework on corporate sustainability reporting, says the Chair of UNEP FI’s Investment Commission David Pitt-Watson in an opinion article recently published in various newspapers across the globe.

Co-authored with UNEP’s head Achim Steiner and other advocates of a reporting reform, the article argues that despite existing guidelines and standards, there is a need to level the playing field with a global agreement on reporting.

A recent survey of stock exchange respondents has found that 80 per cent of those responding wanted a global approach to sustainability reporting, notes the article.

“A range of commitments will be before world leaders in Rio in a few weeks time. Evolving sustainability reporting onto a higher, more widespread and legally-grounded level, ideally in the form of a future convention, should be firmly on their radar,” concludes the article.

More information here.

 

Your UNEP FI Community

18 May, 2012

UNEP FI’s insurance role bolstered with new insurance sector members

International insurers Sun Life Financials and SulAmérica joined UNEP FI in May.

With the launch of UNEP FI’s Principles for Sustainable Insurance a month away, the arrival of the new members bolsters the partnership’s role as a sustainability leader among the global insurance community.

Sun Life Financial Inc. is a Toronto-based international financial services company known primarily as a life insurance company, while SulAmérica is Brazil’s third largest insurance company, with 6.7 million customers.

The UNEP FI Principles for Sustainable Insurance, which will be launched on the eve of Rio+20, are a transformational set of voluntary, global principles to manage environmental, social, and governance in the insurance business.

More information here.

 

UNEP FI News

19 April, 2012

UNEP FI voices ideas for Rio+20 with position paper

UNEP FI has given the financial sector a voice with the unveiling of a position paper on the upcoming Rio+20 Conference in late April.

The document signed by UNEP FI’s co-Chairs Barbara Krumsiek and Richard Burrett makes a clear statement to Rio+20 country delegates on the role of the financial sector in achieving sustainable development. It offers a set of recommendations on how the international community and policy-makers can further enable and incentivise sustainable finance at Rio+20.

Rio+20, or the UN Conference on Sustainable Development, marks the 20th anniversary of the seminal 1992 Earth Summit of Rio de Janeiro.

Hundreds of delegates from the private sector, among them UNEP FI members, are expected to join the thousands more who will attend the event.

More information here.

 

Your UNEP FI Community

10 April, 2012

Africa’s largest insurer bags Climate Change Leadership Award with research supported by UNEP Finance Initiative

Santam, Africa’s largest non-life insurer and a member of UNEP FI, has won the 2012 Climate Change Leadership Award under the financial services category.

The Climate Change Leadership Award is the first in Africa to recognise, reward, motivate and celebrate businesses, communities, youth, schools and individuals leading the way in combating climate change.

Santam won the award due to the research study, Insurance in a Changing Risk Landscape: Local lessons from the Southern Cape of South Africa, said the jury. The study emerged from a research partnership between the Santam Group, WWF, University of Cape Town and Council of Scientific & Industrial Research, and was produced in collaboration with UNEP FI.

 

UNEP FI Publications

26 March, 2012

CEO Briefing on materiality now in French and Spanish

UNEP FI’s seminal CEO Briefing Demystifying Materiality is now available to French and Spanish speakers.

Initially published in 2010, the relevance of the concise publication on natural capital has not waned, with the issue forecasted to be among topics discussed at the upcoming Rio de Janeiro UN Conference on Sustainable Development, or Rio+20.

UNEP FI’s Natural Capital Declaration is slated to be launched a few days before Rio+20.

Demystifying Materiality is designed to brief financial sector employees and other interested audiences on and how natural capital can be hardwired into financial products and services. It includes results from a survey among financial institutions on the financial sector’s perceived exposure to biodiversity and ecosystem services risks.

More information here.

 

Your UNEP FI Community

22 March, 2012

Mexican green banking pioneer CIBanco adheres to UNEP FI statement

Flagship green Mexican bank CIBanco entered the UNEP FI community in mid-March by signing the UNEP FI Statement on Sustainable Development.

“We feel proud to be the first green bank of Mexico and join a community of over 200 institutions and three dozen members in Latin America with one common interest: to identify the best sustainable practices for financial operations,” said CIBanco’s Chairman of the Board of Directors Jorge Rangel de Alba.

“We share the vision of this great family of the global financial sector that favors sustainable finance development,” he said.

More information here.

 

Your UNEP FI Community

14 March, 2012

Top Nigerian bank connects with UNEP FI

Nigeria’s largest bank by market capitalization, Guaranty Trust Bank, stepped up its relationships with the United Nations in early March by becoming the UNEP Finance Initiative’s latest member institution.

Guaranty Trust Bank’s activities span all countries of Anglophone West Africa, making its commitment to UNEP FI’s Statement on Sustainable Development – the partnership’s backbone – a significant step toward the mainstreaming of sustainability in that region.

“Nigeria’s sustainable scene is becoming more vibrant every day, as recently evidenced by our report Financing Renewable Energy in sub-Saharan Africa. The membership of leading institutions such as Guaranty Trust Bank is key to this trend,” commented UNEP FI’s officer in charge Yuki Yasui.

UNEP FI currently counts 15 members in sub-Saharan Africa. All but one are banks.

More information here.

 

New Report: Head of UNEP calls for scaled-up renewable energy in Africa at launch

21 February, 2012

Smart public policies are key to powering up sub-Saharan's Africa's clean energy potential, said the head of UNEP Achim Steiner while unveiling UNEP FI's latest report in Nairobi Tuesday.

Financing Renewable Energy in Developing Countries: Drivers and Barriers for Private Finance in sub-Saharan Africa outlines how current obstacles to renewable energy solutions in Africa can be tackled with the help of private finance.

"Accelerating and scaling-up sustainable energy for all will be key to realizing a transition to a low carbon, resource efficient 'inclusive' Green Economy," said UN Under-Secretary-General and UNEP Executive Director Achim Steiner.

The report identifies three main roadblocks to a more vibrant renewable energy sector - namely cost, structure, and risk. It details how these can be overcome in sub-Saharan Africa.

Its conclusions and recommendations to sub-Saharan Africa and international policy-makers are based on a survey of 38 financial institutions.

More information here.

 

Event: UNEP FI and partners open Natural Capital Declaration for signatures

20 February, 2012

 

International banks National Australia Bank and Rabobank Group increased their commitment to work towards a more stable world economy today with the announcement of their groundbreaking endorsement of a finance sector declaration on natural capital at a meeting in London.

The two banks were first to express their support for the Natural Capital Declaration, which is now open to signatures.

By endorsing the declaration, financial institutions re-affirm the importance of natural capital in maintaining a sustainable global economy, and call upon the private and public sectors to work together to create the conditions necessary to maintain and enhance natural capital as a critical economic, ecological and social asset.

More information here.

 

Our members: Private equity firm Actis comes on board

10 February, 2012

Pan-emerging market private equity firm Actis became UNEP FI’s 207th member in early February.

With a distinctive ethos focused on the transformative force of capital in the developing world, The London-based firm brings to the UNEP FI community a decisively global perspective.

“The private equity industry is waking up to the imperative of integrating sustainability issues into investment decisions,” said ESG Senior Advisor Rita Kumar, commenting on key trends in Actis’ sector of activity.

“We are now turning our attention to maximise the upside and create value for our portfolio companies through targeted sustainability interventions,” she said.

More information here.

 

Our Members: UNEP FI kicks off new year with three new banking members

11 January, 2012

UNEP FI entered the new year with the accession of three banks to its fast-growing family.

The advent of Bradesco Bank, Bank bjb and Garanti Bank expands UNEP FI’s fast-growing Banking Commission – whose members make up two-thirds of the partnership.

Founded 68 years ago and listed on the Sao Paulo, New York and Madrid stock exchanges, Bradesco Bank is one of Brazil’s chief private banks and owns the largest insurance company in Latin America.

Garanti Bank is Turkey's second largest private bank, and represents the highest ratings assessed to a Turkish bank.

Bank bjb, finally, is a government-owned, commercial bank that promises to bring a fresh perspective to UNEP FI and will contribute to broadening the partnership’s understanding of sustainable banking.

More information here.

 

Event: UNEP FI deepens its engagement in Russia

22 December, 2011

UNEP FI deepened its engagement in Russia in December as it addressed representatives from the Russian banking sector, NGO community, government agencies, and international organizations at an international Moscow conference.

"Investment in Sustainability. Role of the Financial Sector" was organized by VnescheconomBank (Bank for Development and Foreign Economic Affairs, VEB), one of the largest state-owned banks in Russia, which has been stepping up its sustainability understanding and practices since the launch of its first sustainability report in 2010.

As a back-to-back event to the conference, UNEP FI, WWF Russia and VEB organized a training workshop on Environmental and Social Risk Analysis following the event.

More information here.

 

UNEP FI Climate Change Working Group work at heart of discussions in Cancun

11 January, 2011

UNEP FI’s Climate Change Working Group was pleased to be at Cancun for the 2010 COP16 negotiations, and also take part in organising the first World Climate Summit. A key outcome of the negotiations was the Cancun Agreements, welcomed by many as a positive achievement and bringing hope for progress in COP17 this year. Discussions showed how the need to involve the private sector in financing and addressing climate change at an international level is now being recognized, as called for by UNEP Finance Initiative and its members through 2 global industry Statements in 2010.

Summary Document: Briefing on COP16 and the Cancun Agreements

Find out more information about these activities:
UNEP FI at the UNFCCC COP 16
UNEP FI at the World Climate Summit 2010
Summary of the UNEP FI events at Cancun
Global Insurance Statement 2010
Global Investor Statement 2010

 

UNEP FI at Cancun: 'Financing real transformation? Designing an effective financial mechanism under the Convention'

25 November, 2010

UNEP FI and WWF, with the support of the IIGCC, welcome you to the event "Financing real transformation? Designing an effective financial mechanism under the Convention" on 6 December in Cancun, Mexico at the Jaguar Room. Amidst the UNFCCC Cancun negotiations, we bring together the combined voice of the NGO community and the private financial sector regarding the financing of action to tackle climate change. There is powerful convergence of opinion between NGO community and private finance on the need for increased public finance for climate change action in order to leverage greater amounts of private finance in support of the transition to low-carbon and resource-efficient economic development. The session will explore how significantly scaled up public and private financing are both needed, and how the financial mechanism under the Convention should both aim to leverage private finance and channel public finance into adaptation and mitigation efforts that lack an immediate commercial dimension. The event will highlight what private finance can do in a climate change mitigation context, and in the same time what it cannot do, bringing as speakers key government negotiators, Deutsche Bank and the WWF. Media representatives are welcome. See the Media Advisory. See the Press Release.

 

The world's capital markets demand determined policy action on climate change

16 November, 2010

Over 250 investors responsible for the management of funds the size of US GDP call for policies to unlock low-carbon growth and avoid economic devastation.

The world's largest global investors have a powerful message for world governments and climate negotiators in Cancun: take action now in the fight against global warming or risk economic disruptions far more severe than the recent financial crisis. Investors released the statement, which was facilitated by the UNEP FI Climate Change Working Group and Partners, calling for national and international policies that will spur private investment into low-carbon growth and protect the world economy from the worst impacts of climate change. Signatories include both global players like UNEP FI Signatories Allianz and HSBC as well as many smaller institutions from developed and developing countries. This is the largest-ever group of investors to call for government action on climate change. “We cannot drag our feet on the issue of global climate change," said Barbara Krumsiek, Chair of the UNEP FI and CEO of US-based investment firm Calvert Investments. "Calvert is deeply concerned about the devastating impacts climate change - if left unaddressed - will have on the global economy. Based on the Stern Report, we know these impacts could reach global GDP cuts of an unimaginable 20% per year. Why should we take that risk? The solutions are quickly emerging and we must deploy these solutions to help secure the innovation and sustainable growth our economies need." See the Press Release. Media coverage. See the policy impact of the statement.

Versions: English Spanish Portuguese

 

Launch of CEO Briefing: 'Demystifying Materiality: Hardwiring biodiversity and ecosystem services into finance'

27 October, 2010

From banks to insurance companies, some key financial institutions are beginning to recognize rising risks to investments from biodiversity and ecosystems loss. These are some of the findings from a new CEO Briefing by UNEP FI, entitled Demystifying Materiality: Hardwiring Biodiversity and Ecosystem Services into Finance, launched at the UN biological diversity convention meeting in Nagoya, Japan. UNEP FI Co-Chair Richard Burrett said: “As the global financial sector recovers and moves into the post financial crisis era, there is one notion that crystallises before our eyes more acutely than ever: we need to understand systemic risk in a genuinely holistic way. This CEO Briefing underscores the critical natural capital that underpins our economic activity and financial capital. As the finance sector, we need to ensure that we operationalise this thinking in the management of investment and lending activities. The CEO Briefing shows why this is the case.”
Read the report. Japanese version. German version. Senior executives' commentary.
Press Release. Press release in Spanish. Media coverage.

 

UNEP FI Co-Chair Richard Burrett on finance, biodiversity and natural capital

14 October, 2010

'Nature is not just about fluffy animals or brightly coloured frogs -- it's central to the health of businesses that need to incorporate environmental impacts into their risk management,' Richard Burrett told Reuters reporter David Fogarty. Days before the start of the UN biodiversity convention negotiations in Nagoya, Co-Chair Burrett explains the links between finance, biodiversity and natural capital. Read the article.

Nature central to economy

Nature is not just about fluffy animals or brightly coloured frogs — it’s central to the health of businesses that need to incorporate environmental impacts into their risk management, a senior United Nations official said. Such an approach should be obvious, said Richard Burrett, co-chair of the United Nations Environment Programme’s Finance Initiative, yet nature remains essentially invisible to many people and companies, particularly in urban centres. Read more.


 

Putting a Price on Global Environmental Damage

5 October, 2010

San Francisco, USA - Global environmental damage caused by human activity in 2008 represented a monetary value of $ 6.6 trillion, equivalent to 11% of global GDP, calculates a study released today by the UN-backed Principles for Responsible Investment (PRI) and the UN Environment Programme Finance Initiative (UNEP FI). Those global costs are 20% larger than the $ 5.4 trillion decline in the value of pension funds in developed countries caused by the global financial crisis in 2007/8. The study, an initial effort to quantify in monetary terms the environmental harm caused by business and the possible future consequences for investor portfolios, fund returns and company earnings, estimates that in 2008 the world's top 3,000 public companies were responsible for a third of all global environmental damage. The study warns that as environmental damage and resource depletion increases, and governments start applying a "polluter pays" principle, the value of large portfolios will be affected through higher insurance premiums on companies, taxes, inflated input prices and the price tags for clean-ups. Read the Report.
See the Press release. Media coverage.

 

UNEP FI and partners launch the World Climate Summit

21 September, 2010

The UNEP Finance Initiative and partners, including the World Bank, the UN Global Compact, the Carbon Disclosure Project and many others, have come together to launch the inaugural World Climate Summit, 4-5 December, 2010 at The Ritz-Carlton, Cancun, Mexico, in parallel to the UNFCCCCOP 16 conference. As the first founding partner of the WCS and the conference's main focal point on finance, investment and insurance, the UNEP Finance Initiative is supported by a large coalition of financial institutions and investors, both UNEP FI Signatories as well as numerous climate change networks such as IIGCC, IGCC, INCR, the PRI, ClimateWise and FELABAN.

Visit the conference's website
Register here
See the Press Release
Media Coverage

 

The finance sector to step up efforts to combat climate change and increase investment in renewable energy, urges Nobel Laureate

14 September, 2010

80 days before the UN climate change negotiations the UNEP Finance Initiative leads the discussion with the finance sector at a forum in Mexico City entitled “The Financial Sector towards COP16”

Mexico City, 13 September, 2010 – Less than three months before world leaders will meet in Mexico in attempt to negotiate a new global deal on climate change, leading finance executives came together in Mexico City, under the umbrella of the United Nations Environment Programme Finance Initiative (UNEP FI). The Bankers Club of the Mexican Banking Association (ABM) hosted 55 senior finance executives who exchanged views on the finance sector’s role with regard to climate change solutions. The event was co-organized by the UNEP Finance Initiative, the Mexican Banking Association and the Mexican National Institute of Ecology, and was moderated by Jessica Jacob, UNEP Finance Initiative Latin America Task Force Coordinator.

Nobel Laureate Dr. Mario Molina delivered the keynote address, urging the finance sector to increase investment in renewable energy. ‘The private sector has to see the real business and investment opportunities and learn from the existing best practices to accelerate progress. There is no one magical solution. We need to take different simultaneous actions, such as investing in solar and wind energy’, he added. Read more.
Media Coverage.

 

The global insurance industry demands public-private action on climate change adaptation in developing countries

6 September, 2010

Four initiatives representing more than 100 leading international insurance companies are today calling on governments worldwide to harness risk management techniques and insurance expertise to help implement climate change adaptation measures in the developing world as well as to firmly anchor insurance mechanisms as part of the future international climate change regime under the UNFCCC. Read more...

Read the Statement: English, French, Spanish, Korean
See the Press Release.
Media Coverage generated by the Global Insurance Industry Statement.

 

Impact of Water Scarcity on Power Generation

6 September, 2010

UNEP FI launches Issue 2 of the Chief Liquidity Series at World Water Week in Stockholm

The United Nations Environment Programme Finance Initiative (UNEP FI) launched Issue 2 of The Chief Liquidity Series focused on the Power Sector at an event entitled ‘Seeking Liquidity: Integrating Corporate Water Performance into the Core of Financial Services and Capital Markets’, during World Water Week.

In an effort to encourage new thinking and foster creative solutions to the world’s most pressing water challenges, the World Water Week in Stockholm convened leading experts, practitioners and decision makers in the field. UNEP FI led the discussion on how water stresses impacted business performance in water-intensive sectors. Read the Press Release.
Media Coverage.

 

China and the green journey of its financial sector

25 August, 2010

Months before the UN climate change negotiations, the Head of UNEP Finance Initiative Paul Clements-Hunt visits China to engage policy makers and financial institutions.

Mr. Paul Clements-Hunt, Head of the United Nations Environment Programme Finance Initiative (UNEP FI) and Ms Wei Peng, UNEP FI Asia Task Force Coordinator, are visiting China in early September this year. Months before the UN climate change negotiations they will take the opportunity to engage senior policy officials and leading financial institutions with the view of discussing China's vision of its 'green finance' future.

Interested media representatives are invited to get in touch for interviews with Paul Clements-Hunt, whose schedule in China is the following:
1 - 5 Sept, Beijing
6 Sept, Shanghai
7 - 9 Sept, Xia Men

See the Full Media Information Note.

 

A Blossoming Relationship — Chiba Bank joins UNEP FI

14 July, 2010

“From small acorns great oak trees grow. Chiba Bank’s joining is an important step and we shall take that message to the Secretary General”, announced Paul Clements-Hunt

The United Nations Environment Programme Finance Initiative (UNEP FI) welcomed The Chiba Bank, Ltd. (Chiba Bank), the second largest regional bank in Japan in terms of assets, as our new member. The UNEP FI membership of Chiba Bank became official at a signing ceremony at Palais des Nations in Geneva, after Mr. Hidetoshi Sakuma, President of Chiba Bank, and Mr. Paul Clements-Hunt, Head of UNEP FI signed the ‘UNEP Statement by Financial Institutions on the Environment and Sustainable Development’, as a sign of future cooperation in the area of sustainable finance. “It is a great pleasure to attend this ceremony for this occasion, and I am very grateful for the support provided by UNEP FI”, said the President of Chiba Bank, Mr. Hidetoshi Sakuma. “Prior to the ceremony Mr Clements-Hunt provided, on two different occasions, seminars on the role of financial institutions in fostering a low-carbon society.”
Read the Story and watch the Video.

 

The Launch of The Economics of Ecosystems and Biodiversity (TEEB) for Business Report

13 July, 2010

Biodiversity Is Climbing the Corporate Agenda. Companies with 'Net Positive Impact' on Biological Diversity are Winners in Resource-Constrained World

Business leaders in biodiversity-rich developing economies are concerned about losses of 'natural capital', a new report launched today highlights. Over 50 per cent of Chief Executive Officers surveyed in Latin America and 45 per cent in Africa see declines in biodiversity as a challenge to business growth. In contrast, less than 20 per cent of their counterparts in Western Europe share such concerns. The findings, compiled by a study of The Economics of Ecosystems and Biodiversity (TEEB), indicate that those corporate chiefs who fail to make sustainable management of biodiversity part of their business plans may find themselves increasingly out of step with the market place.

The financial sector, as underlined by UNEP FI Biodiversity Working Group's contribution to the report, has a key role to play. Read the press release in English, Spanish, Arabic, French and Chinese. See the Executive Summary. See the support to TEEB for Business expressed by UNEP FI members...

 

UNEP FI Soft Launch: Conference in Cancun

12 May, 2010

UNEP FI, in a partnership with the World Climate Summit (WCS), Time magazine, Carbon Disclosure Project (CDP) and with the support of the Mexican Government’s Trade and Investment Promotion Agency, Pro Mexico, will convene 300 of the most prominent and influential leaders from business, finance, entrepreneurship, and governments to accelerate, and collaborate on, economic solutions to climate change.

The exclusive inaugural summit will run in parallel to the United Nations Framework Convention on Climate Chance COP 16 conference in Cancun, Mexico December 4-5th, 2010. With the help of its partners, this initiative has access to the largest concentration of industry leaders and investors through more than 60 industry associations, 100 chambers of commerce, 2,500 companies and more than 530 investors representing $64 trillion of assets under management.

Watch the Video.
Read the Press Release.

 

Barbara J. Krumsiek and Richard Burrett named Co-Chairs of UNEP Finance Initiative

27 April, 2010

Finance and investment to play a lead role in the May 2012 "Rio+20" United Nations Earth Summit

The largest partnership between the United Nations and the financial services sector has elected two new Co-Chairs to steer the initiative in the run up to the landmark UN "Rio+20" Summit in May 2012.

Barbara J. Krumsiek, President & CEO of the Bethesda, Maryland headquartered Calvert Group Ltd, and Richard Burrett, a partner in the London-based Earth Capital Partners, will steer the United Nations Environment programme Finance Initiative (UNEP FI) for the next two years.

The United Nation's "Rio+20" summit will convene in Rio de Janeiro, Brazil, twenty years after the original 1992 Rio Earth Summit when world leaders gathered for the first time to discuss environmental and development issues. UNEP FI was formed to provide input to the 1992 summit. The role of finance and capital markets will be central to the Green Economy theme of Rio+20.

Read the full Press Release.

 

UNEP FI reaches out to the financial sector in Turkey

16 April, 2010

The United Nations Environment Programme Finance Initiative welcomed its first member from the finance sector in Turkey. The membership of the Industrial Development Bank of Turkey (TSKB) became official at a signing ceremony, after Paul Clements-Hunt, Head of UNEP FI, and Halil Eroğlu, TSKB’s Central Executive Officer (CEO), signed the ‘UNEP Statement by Financial Institutions on the Environment and Sustainable Development’, as a sign of future cooperation in the area of sustainable finance.

Read more.
Press Release.
See News on the UNEP Website.

 

 


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