Publications

Biodiversity and Ecosystem Services - Bloom or Bust? (1.2 MB | 39 pages)

The business case for biodiversity & ecosystem services is not just about conserving endangered species. It is becoming an issue of global policy that the benefits provided by biodiversity are valued and accounted for within traditional business risk frameworks.

This report, developed by UNEP FI's Biodiversity & Ecosystem Services Work stream (BESW) provides direction for financial institutions that wish to manage biodiversity & ecosystem service risks more effectively. It also illustrates how opportunities and tools for financial products and services can be developed.

Published: 2008 | By: UNEP FI

Carbon Crunch: Meeting the Cost (754 KB | 16 pages)

The briefing analyzes the most recent studies on the economics and cost of climate change, and the investment required for mitigation and adaptation. It highlights the crucial role played by the finance sector due to its influence in directing investment and financial flows, and reviews what leading financial institutions are already doing to address the climate problem, and what should be done to extend and deepen those actions across the entire sector. The briefing also emphasizes the crucial role of the policy making community in setting up the regulatory frameworks that will provide the necessary long-term investment horizons, and pave the way for further large-scale investment towards a low carbon economy.

Published: 2007 | By: UNEP FI

0.618... - Issue 8 (961 KB | 16 pages)

Grapes, glitz and glamour

In this issue: Viticulture and climate change; Carbon neutral winery; Sustainability in the fashion industry; Green luxury fashion; Corporate responsibility in casual wear; reducing CO2 in Formula 1; Green is redhot in Hollywood; Environment or poverty reduction?; Extravagent lifestyle to charity non-profit.

Published: 2007 | By: UNEP FI

0.618... - Issue 7 (1.6 MB | 20 pages)

Blue Gold? Refreshing, Unique, a Privilege?

In this issue: Common Waters, The Promise of an African Green Revolution, Getting Wall Street Wound Up about Waters, Planet Calling Banker, Water Scarcity, Natural Disasters - Financial Crises?, World Water Week, Asia-Pacific/Eastern-Europe/Central-Asia Water Issues, Materiality Research at Goldman Sachs, Responsible Property Finance, UNEP FI Publications

Published: 2007 | By: UNEP FI

Half full or half empty? (2.0 MB | 84 pages)

While climate change may be the single biggest environmental challenge of the coming decades, its effects on business will mostly manifest themselves via water: circumstances of too little, too much or inadequate timing and quality of supply will expose businesses to considerable financial stress. And yet, despite its material importance, water has, until now, only scarcely appeared on the radars of financial institutions.

Launched on 25th October 2007 at UNEP FI's Global Roundtable in Melbourne, this first-of-its-kind publication goes beyond description and provides lenders and investors with fundamental and practical guidance on how to identify, assess, quantify and integrate water-related risks into existing due-diligence procedures: across geographies and industries; and both within the water/sanitation sector and with respect to businesses "downstream".

However, it is recognized that water cannot only be a destroyer but also a creator of value. There are more opportunities around water than the mere benefits of enhanced risk management. Within this report, these are systematically pointed at and categorized.

Published: 2007 | By: unepfi

Responsible Property Investing: What the Leaders are Doing (975 KB | 16 pages)

This CEO Briefing summarises key market research carried out by the Property Working Group during 2006-2007. The collection of case studies presented in the Briefing identifies and highlights emerging opportunities that investors, asset managers and property managers can implement to improve the ESG performance of a property portfolio, without diluting financial return.

French Version (PDF: 645 KB)

Published: 2007 | By: UNEP FI

Demystifying Responsible Investment Performance (1.2 MB | 82 pages)

A constant barrier to the widespread acceptance of responsible investment has been the misconception that it automatically translates to underperformance. This has been the subject of much debate through the years, particularly in the context of fiduciary duty.

The report, jointly produced by the UNEP FI Asset Management Working Group and Mercer, a leading global provider of investment consulting services, features influential and award-winning studies from the academic community and a diverse set of studies from renowned brokerage firms, analysing responsible investment performance at both the company/stock and fund/portfolio level, and bolstering the materiality of environmental, social and governance (ESG) factors.

The landmark report dispels misconceptions surrounding responsible investment performance, encourages more in-depth academic and practitioner research, and represents another enlightened step towards exploring the challenges and promise of responsible investing.

Published: 2007 | By: UNEP FI and Mercer

CEO Briefing - Biodiversity and Ecosystem Services, Bloom or Bust? (930 KB | 12 pages)

This CEO Briefing provides a primer for institutions that wish to manage biodiversity and ecosystem service risks more effectively and also to understand how opportunities for financial products and services that support sustainable use of biodiversity & ecosystem services can be developed.

Published: 2007 | By: UNEP FI

UNEP FI 2006 Overview (603 KB | 8 pages)

This summary document provides an overview and introduction to the structure and activities of UNEP FI - through its working groups and task forces, and highlights key meetings and publications from 2006.

Published: 2007 | By: UNEP FI

The State of Responsible Investment in South Africa (1.5 MB | 69 pages)

"The State of Responsible Investment in South Africa" is a survey of the approaches and perceptions of the South African investment community to environment, social and governance issues. 32 pension funds, 19 asset managers, and 11 investment service providers were surveyed on current demand and supply of responsible investment as well as whether they felt issues such as employee relations, sustainability, HIV Aids and corporate governance were important to consider when evaluating the performance of investments.

Findings are important for both South Africa as well as the larger African context. The South African stock exchange is the biggest in Africa and South African investment activities, trends and behavior are vitally important to the economies throughout the continent. It is arguably in the African continent, where acute ESG pressures exist, that the benefits of responsible investment could have most impact.

Published: 2007 | By: UNEP FI

CEO Briefing - Green Financial Products & Services: Current State of Play and Future Opportunities (770 KB | 8 pages)

Published: 2007 | By: UNEP FI

Green Financial Products and Services: Current Trends and Future Opportunities in North America (700 KB | 82 pages)

This latest report from the North American Taskforce is the most comprehensive study to date on green financial products and services. As well as covering the North American markets, the report examines best practice around the globe, and covers a number of financial sectors including retail, corporate and investment banking, asset management, project finance and insurance. To follow-up the report, the taskforce will be hosting a workshop in Toronto on September 27th, which will cover the key findings of the report and include presentations from a number of experts. For more information on the report or workshop please contact: na@unepfi.org.

Published: 2007 | By: UNEP FI

The Working Capital Report (590 KB | 56 pages)

Responsible investment matters because we are talking about where people's savings meets society's goals.

By July 2007 assets approaching USD 10 trillion, owned or managed by more than 200 major investment organizations from 25 countries, had committed to the Principles for Responsible Investment.

In the future this commitment by investors to the PRI could have a huge impact on the way capital markets work and indeed on how we collectively address the pressing global social and environmental issues of the 21st century.

The Working Capital Report is a snapshot in time describing how the PRI came about and capturing the views of leading thinkers in the field of sustainable finance and responsible investment.

Published: 2007 | By: UNEP FI and UN Global Compact

Banking On Value: A New Approach to Credit Risk in Africa (1.3 MB | 52 pages)

"Banking on Value" assesses the extent and manner in which financial institutions in Africa’s largest financial hubs - South Africa and Nigeria - currently integrate sustainability in their core financing activities.

The report contains a section on policy making designed to assist African financial institutions with policy refinements that integrate environmental, social and governance issues into credit risk assessments. In addition several recommendations to encourage the uptake of sustainable finance in Africa are provided.

Published: 2007 | By: UNEP FI

Declaration on Climate Change by the Financial Services Sector (53 KB | 3 pages)

On World Environment Day, 5 June 2007, a day before the start of the G8 meeting in Germany, UNEP FI launched its "Declaration on Climate Change by the Financial Services Sector". This is the first global statement on climate change by the finance sector, and over 20 CEOs from UNEP FI member companies have signed the declaration.

The essence of the declaration is a recognition by financial institutions from around the globe that anthropogenic climate change is real; the cost of inaction will be extremely high; financial institutions must take greater action and integrate climate change into their everyday decision-making; and governments need to do more, namely set ambitious, long-term targets for emissions reduction.

The statement remained open for endorsement in the run-up to the Kyoto negotiations in Bali this December. We encourage other members of UNEP FI to sign the declaration.

View the Statement (PDF: 53 KB)

UNEP Press Release (PDF: 40 KB)

Published: 2007 | By: UNEP FI

Report on the Legal Framework for Finance and Sustainability in Argentina (Spanish) (800 KB | 47 pages)

This Report is a complement to the State of the Art Survey conducted by UNEP FI’s Latin American Task Force in Argentina in 2006. Both reports were launched in Buenos Aires on 10 April 2007 at a roundtable discussion hosted by ABA, an Argentinean Banking Association.

El Desarrollo Sostenible en el Sector Financiero Argentino. Marco Legal & Institucional.

Este Informe complementa la Encuesta sobre el Estado del Arte de las Finanzas Sostenibles realizada por el LATF en Argentina en el 2006. Ambos trabajos fueron presentados en Buenos Aires el 10 de abril de 2007 en una mesa redonda auspiciada por la Asociación de Bancos de Argentina (ABA).

Published: 2007 | By: UNEP FI

Insuring for Sustainability: Why and how the leaders are doing it (3.2 MB | 64 pages)

(version française)

Today, the insurance industry faces the great challenge of coping with a rapidly changing risk landscape, one from which global sustainability issues have emerged, and continue to emerge. The risks that these issues entail are serious, while the opportunities, largely untapped. It is therefore insightful, as a starting point, to look at what leading players are doing in addressing some of the most challenging global sustainability issues, and to recognise the vital role the insurance industry can play.

While the report is instructive and highlights case studies of best practice, it is not meant to provide ready-made solutions. Its primary aim is to provide illumination by imparting knowledge and a deeper understanding of the issues. We believe that this aim is a critical first step towards finding solutions to the serious risks of today, and uncovering the opportunities of a sustainable tomorrow.

Published: 2007 | By: UNEP FI

Responsible Investment in Focus: How leading public pension funds are meeting the challenge (1.0 MB | 85 pages)

A wide range of issues that five years ago were considered "non-financial" such as climate change, human rights and board remuneration are now coming to the fore as factors that can have a significant impact on investment value. Many investors, particularly pension funds with a remit to take a long-term perspective, are grappling with these issues, and there can be both hesitation and confusion as to how to integrate them in investment decision-making.

This report contains 15 case studies offering a snapshot of some of the most advanced approaches to responsible investment around the world. It is intended to serve as practical guidance for the institutional investment community, particularly trustees of pension funds, foundations and life insurers, and their agents, on how and why leaders integrate environmental, social and governance considerations into their investment processes.

Published: 2007 | By: UNEP FI

Finance and Sustainability in Argentina (Spanish) (1.2 MB | 46 pages)

(Version en Español)
During a training workshop and CEO Breakfast conducted by the LATF in collaboration with ABN AMRO N.V. in Buenos Aires in May 2005, participants from both groups expressed the need for a clearer vision of the status of sustainable finance in the country in order to more effectively define next steps for the Argentinean financial sector as a whole.

In response to this demand, in 2006 the LATF conducted a detailed survey of existing environmental practices and policies within the Argentinean banking sector. The research was conducted through interviews and based on a template questionnaire.

The results of the survey suggest that there is still a fair length to go on the road to sustainable finance in Argentina. Although half the banks interviewed possess environmental policies of some sort, only eight have mechanisms in place to actually carry them out. Also worthy of note is the finding that, overall, national banks seem to be behind international banks present in the country in terms of applying environmental best practices.

According to those banks which participated, a number of barriers need to be overcome, in particular a lack of understanding of the issues at hand and how sound environmental management affects financial returns. The financial and political context of the country over the last few years was also repeatedly stressed as determining factor in the current situation.

Interviewees conclude that the most pressing next steps involve stepping up awareness-raising activities and training, as well as improving communication channels both within and between financial institutions.

El Desarrollo Sostenible en el Sector Financiero Argentino (PDF: 1.2 MB | 46 páginas)

En mayo de 2005, el Grupo Regional de UNEP FI para América Latina (LATF) realizó su primer taller de capacitación en Buenos Aires sobre riesgos ambientales y sociales en el análisis de préstamos y proyectos de inversión, seguido de un desayuno de trabajo para presidentes, vicepresidentes y/o miembros de las juntas directivas de las instituciones financieras, así como para representantes del gobierno y del sector privado.

De estos eventos surgieron varias sugerencias, entre las cuales la de investigar el estado de la situación del sector financiero argentino en relación con su responsabilidad ambiental y social. Se propuso realizar una encuesta sobre las prácticas del dicho sector en cuanto a su integración hacia cuestiones sociales y ambientales en sus operaciones internas y externas.

El LATF se hizo cargo de este proyecto, con lo cual en el 2006 se realizo dicha investigación, mediante una seria de entrevistas, basadas en un cuestionario detallado.

Los resultados de la encuesta muestran que todavía queda mucho camino por recorrer en el ámbito del desarrollo sostenible; si bien la mitad de los bancos entrevistados poseen políticas de tipo ambiental, sólo ocho de ellos dispone de mecanismos para llevarlas a la práctica. Destaca también una tendencia general en la que los bancos nacionales se encuentran en un nivel de avance menor con respecto a las prácticas utilizadas por los bancos internacionales.

En opinión de los bancos que participaron en la encuesta, para lograr una mayor incorporación de los temas socioambientales, deben superarse algunos obstáculos, como la falta de comprensión del tema, la falta de percepción sobre la incidencia de la gestión ambiental sobre los resultados económico-financieros. También se señaló en repetidas ocasiones los efectos de la propia situación que ha tenido que atravesar en los últimos años tanto el sector financiero como el país.

En conclusión los entrevistados consideraron que entre las necesidades mas urgentes están el incrementar la difusión y la capacitación, y mejorar los procesos de comunicación de las IFs, tanto interna como externamente.

Published: 2007 | By: UNEP FI

UNEP FI Asia Pacific Task Force Japan Group brochure- Environment and Finance - JAPANESE Version (1.3 MB | 8 pages)

The UNEP FI Asia Pacific Task Force Japan Group brochure provides a summary of the Group’s activity to end of 2006 and a briefing of the Japanese environmental policies relevant to the finance sector.

Published: 2007 | By: UNEP FI

UNEP FI Asia Pacific Task Force Japan Group brochure - Environment and Finance - ENGLISH version (1.3 MB | 8 pages)

The UNEP FI Asia Pacific Task Force Japan Group brochure provides a summary of the Group’s activity to end of 2006 and a briefing of the Japanese environmental policies relevant to the finance sector.

Published: 2007 | By: UNEP FI

UNEP FI Latin American Task Force Brochure (Spanish) (115 KB | 2 pages)

A group of UNEP FI signatories and partners have constituted a Latin American Task Force to support and expand sustainable financial practice in Latin America.

This brochure provides an overview of the UNEP FI Latin American Task Force's background, objectives and activities.

Portuguese (153 KB)

Published: 2007 | By: UNEP FI

Unlocking Value: The scope for environmental, social and governance issues in private banking (320 KB | 26 pages)

This publication addresses the question of why responsible investment has at best been modest in private banking compared to the surge it has experienced in institutional asset management.

It analyzes private clienteles’ potential demand for responsible investment products, the special characteristics of the wealth management industry and the barriers to the further uptake of ESG-inclusive investment strategies in private banking.

Finally, a resulting set of recommendations is presented for the expansion of ESG-inclusive investments, aimed also at the executive level of private banking institutions.

Published: 2007 | By: UNEP FI

Asia Pacific Task Force Brochure (400 KB | 2 pages)

An overview of the UNEP FI Asia Pacific Task Force's background, objectives and activities.

Published: 2007 | By: UNEP FI

UNEP FI Central and Eastern European Task Force Brochure (382 KB | 2 pages)

An overview of the UNEP FI Central and Eastern European Task Force's background, objectives and activities.

Published: 2007 | By: UNEP FI

Sustainability Management and Reporting: Benefits for Financial Institutions in Developing and Emerging Economies (447 KB | 32 pages)

The take up of SMR by financial institutions especially in developing countries is still low whilst the financial sector plays an important role in sustainable development as intermediaries to the allocation of financial capital. UNEP FI identifies lack of awareness and capacity as the two main barriers hindering many financial institutions to implement SMR.

The report aims to address both these barriers by first setting out a business case for SMR. The target audiences for the document are CEOs and board members of financial institutions with no experience in SMR. It is especially targeting domestic financial institutions (as opposed to international development banks and subsidiaries of international banks) in developing countries. The publication introduces case studies that provide a clear insight into the commercial and environmental benefits of adopting the sustainability management and reporting principles, and ideas on capacity building in introducing SMR.

Published: 2006 | By: UNEP FI

Adaptation and Vulnerability to Climate Change: The Role of the Finance Sector (576 KB | 36 pages)

The UNEP FI Climate Change Working Group report, launched at the UNFCCC COP 12 in Nairobi, calls for a new approach on part of governments and the private sector to address the physical changes that climate change will bring, integrating adaptation with sustainable economic development and disaster management.

A disturbing message is the report’s calculation that economic losses due to climate change could reach 1 trillion USD in a single year by 2040. Both the UNEP FI and Stern reports state that in order to avoid significant costs in the future early action on mitigation and adaptation is required. The UNEP FI report argues that whatever we do to cut emissions, the climate will continue to change in the coming decades, and therefore, adjusting to the expected effects of climate change is a vital complement to mitigation. This is particularly true for the poor, who have no safety net or capital; the natural world, which changes slowly; and sectors with long lead-times such as infrastructure, utilities, forestry; and institutions with lengthy liabilities like pension funds.

The report describes some of the current products and services and other innovative approaches used by the finance sector to tackle climate change, such as weather derivatives and natural catastrophe bonds. Many potential markets that could have a major impact, promote adaptation and reduce vulnerability, such as micro-finance and insurance, are not wholly commercially viable as yet, and therefore require a public-private partnership approach to provide the seed capital and skills required.

The report’s key message:

• Adaptation IS economic development -- by removing the root causes of vulnerability, such as low incomes, lack of diversity, disease, etc, enhances resilience and generates wealth;
• Adaptation is also good disaster management - small changes in design can save multiples later and pre-funding can speed recovery;
• Disaster relief is not the best way to manage risk as it is slow to arrive, hard to budget for, and vulnerability persists.

The report’s recommendation to both policymakers and financial institutions is to mainstream climate change into all levels of decision-making and company operations, and to integrate adaptation with other priorities. Finally, the knowledge and resources required for effective adaptation will not happen without the support of the private sector, and governments need to provide the policy framework and stability for business to operate more effectively in developing countries. The finance sector can play a crucial role by supplying the new markets that will be created with innovative products and services, such as weather derivatives and micro-finance.

Published: 2006 | By: UNEP FI

Australasian UNEP Finance Initiative Newsletter - Issue 12 (404 KB | 20 pages)

In this Issue: UNEP FI’s Global Roundtable 2007, Westpac challenges customers to go green, Encouraging uptake of Progress Loans at ANZ, Shorts, VicSuper talks about the weather with its members, UN Principles for Responsible Investment, Risk Radar for Farmers at IAG, Generation Investment Management’s focus on Climate Change, The Triple Bottom Line: Promotion of Environmentally Friendly Microfinance in Sri Lanka, Environmental Governance Standards for Development Finance Institutions in Asia, UNEP FI International Update, New UNEP FI Signatories.

Learn more about UNEP FI activities in Australasia.

Published: 2006 | By: EPA Victoria

Global Framework for Climate Risk Disclosure (138 KB | 10 pages)

A unique global partnership of 14 leading institutional investors and other organizations, including UNEP FI, representing trillions in assets released the Global Framework for Climate Risk Disclosure to provide specific guidance to companies regarding the information they provide to investors on the financial risks posed by climate change.

Published: 2006 |

Using the Global Framework for Climate Risk Disclosure (590 KB | 19 pages)

This guide has examples of disclosure from leading corporations.

Published: 2006 |

The Principles for Responsible Investment Launch Document (Français) (205 KB | 12 pages)

Background on the 6 Principles, their possible actions for signatories, and an extensive FAQ.

Published: 2006 | By: UNEP FI

UNEP FI 2005 Overview (468 KB | 8 pages)

This summary document provides an overview and introduction to the structure and activities of UNEP FI - through its working groups and task forces, and highlights key meetings and publications from 2005.

Published: 2006 | By: UNEP FI

The Principles for Responsible Investment Launch Document (Japanese) (254 KB | 14 pages)

Background on the 6 Principles, their possible actions for signatories, and an extensive FAQ.

Published: 2006 | By: UNEP FI

CEO Briefing: "Financing Water: Risks and Opportunities" (340 KB | 4 pages)

Key findings from the report highlighting different areas of water-related risk financial institutions are exposed to according to the business segment with which they engage, from water-intensive sectors to those that have a water footprint along the supply chain. The report also identifies appropriate measures financial institutions can employ to mitigate water-related risk.

The report was produced by UNEP FI in collaboration with the Stockholm International Water Institute (SIWI) and UNEP GPA.

Published: 2006 | By: UNEP FI and UNEP GPA

Financing Water: Risks and Opportunities (3.8 MB | 35 pages)

A report highlighting different areas of water-related risk financial institutions are exposed to according to the business segment with which they engage, from water-intensive sectors to those that have a water footprint along the supply chain. The report also identifies appropriate measures financial institutions can employ to mitigate water-related risk.

The report was produced by UNEP FI in collaboration with the Stockholm International Water Institute (SIWI) and UNEP GPA.

Published: 2006 | By: UNEP FI and UNEP GPA

Global Climate Change: Risk to Bank Loans (2 MB | 80 pages)

“Global Climate Change: Risk to Bank Loans”, the latest publication from UNEP FI’s North American Taskforce, assesses whether climate change poses a risk to the loan portfolios of banks in Canada and the US. The report, prepared by EcoSecurities, seeks to better understand the macro impact of climate change on financial risk, and the specific debt sectors most impacted. The report also reviews strategies that can be used by companies and banks alike to reduce the impact of climate change on their businesses, and culminates in recommendations for banks and regulators stemming from the report’s risk analysis of each loan sector in the US and Canada.

Published: 2006 | By: UNEP FI

Show Me The Money: Linking Environmental, Social and Governance Issues to Company Value (516 KB | 60 pages)

This publication marks the second iteration of work produced by UNEP FI Asset Management Working Group (AMWG) on the financial materiality of environmental, social and governance (ESG) issues. For this round, the AMWG invited ten sell-side brokerage houses to write reports across sectors and issues. Analysts were given a free hand to cover the areas they felt to be the most important. CRA RogersCasey, a US-based investment consultancy firm, was also invited to comment on whether the documented ESG links to financial value in the research submitted were strong enough to make a convincing case for mainstream investors.

Published: 2006 | By: UNEP FI

Australasian UNEP Finance Initiative Newsletter - Issue 11 (382 KB | 20 pages)

In this issue: Integrating sustainability at mecu, Bendigo Bank to offset carbon emissions, Encouraging solar hot water at Savings & Loans Credit Union, The Carbon Disclosure Project: CDP4 expands in Australia and New Zealand, Employer of Choice (EOC) and Corporate Social Responsibility (CSR) at Aviva Australia, Alternative financial models for remote communities, A Climate for Change – IGCC’s practical guide for Trustees in managing the risks of climate change, Supply Chain Labour Problems in China, a Key Risk Factor For Investors?, UNEP FI International Update, New UNEP FI Signatories

Published: 2006 | By: EPA Victoria

CEO Briefing on the Future of Climate Change Policy: The Financial Sector Perspective (1.4 MB | 12 pages)

Looking at future policy, financial institutions around the world are in need of a clear and long-term policy framework.

This publication contains recommendations from the UNEP FI Climate Change Working Group to policy-makers on how international climate policy should develop up to 2012 and beyond.

Published: 2005 | By: UNEP FI

0.618... - Issue 6 (2.6 MB | 20 pages)

In this issue: UNEP FI 2005 Roundtable; The future fiduciary; Principles for Responsible Investment; Reporting; Countering climate change - Winds of change at HSBC; Management and reporting in developing countries and emerging economies; Banking the unbanked; Climate change - a core business issue; Emissions trading in 2005 - volatile but promising; UNEP FI Publications.

Published: 2005 | By: UNEP FI

A legal framework for the integration of environmental, social and governance issues into institutional investment (1 MB | 154 pages)

The UNEP FI Asset Management Working Group (AMWG) invited Freshfields Bruckhaus Deringer, one of the world's largest law firms, to consider whether institutional investors such as pension funds and insurance companies are legally permitted to integrate environmental, social and governance issues into their investment decision-making and ownership practices. The AMWG further asked how the law might be expected to evolve in this area. The study describes the legal framework for institutions in Australia, Canada, France, Germany, Italy, Japan, Spain, the UK and the US.

Published: 2005 | By: Freshfields Bruckhaus Deringer

Australasian UNEP Finance Initiative Newsletter - Issue 10 (388 KB | 15 pages)

In this issue: Climate Conference 2005, Launch of Australia’s First Sustainability Index, Financial Payback from Environmental and Social Factors in Australia, Working Towards Sustainability – A Perspective from the Australian Actuarial Convention 2005, Forums Discuss Westpac’s Role in Sustainability, Discussing Microcredit in Melbourne, JPMorgan Chase & Co. Releases Public Environmental Policy, Development Bank of the Philippines Forest Project, Towards Sustainability in Retail: ‘The GPT Group’ case study, Sustainability Analysis of Australia’s Economy, UNEP FI International Update, New UNEP FI Signatories.

Learn more about UNEP FI activities in Australasia.

Published: 2005 | By: EPA Victoria

Generation lost: young financial analysts and environmental, social and governance issues (439 KB | 6 pages)

Executive Summary of a joint project between the World Business Council for Sustainable Development (WBCSD) Young Managers Team (YMT) and UNEP FI to assess whether young analysts might be more amenable to integrating environmental, social, and governance issues than their older colleagues.

Published: 2005 | By: UNEP FI / World Business Council for Sustainable Development (WBCSD)

First Western European Forum - Conference Report (751 KB | 8 pages)

Conference report from the First Western European Forum (Barcelona, Spain, 2005).

The Forum provided European financial institutions with an opportunity to interact on the themes of qualitative risk, microfinance and climate change. This conference report provides speakers' key points, as well as detailed transcripts of the question & answer periods which followed each session.

Spanish (PDF: 121 KB)

Published: 2005 | By: UNEP FI

UNEP FI 2004 Overview (2.5 MB | 8 pages)

This summary document provides an overview and introduction to the structure and activities of UNEP FI - through its working groups and task forces, and highlights key meetings and publications from 2004.

Published: 2005 | By: UNEP FI

Australasian UNEP Finance Initiative Newsletter - Issue 9 (2 MB | 20 pages)

In this issue: Savings & Loans Signs Up to UNEP FI, HSBC and Carbon Neutrality, Westpac New Zealand’s Sustainability Activities, Sustainability Assurance Practitioner Program, Enhanced Analytics- the Inclusion of Extra Financial Issues in the Investment Process, Sustainability- Not Just an Add-On at IAG, Online Library Improves Access to Sustainability Reporting, ANZ and Sustainability- A Progress Update, Water Scarcity and the Financial Sector, UNEP FI International Updates, UNEP FI New Signatories.

Learn more about UNEP FI activities in Australasia.

Published: 2005 | By: EPA Victoria

CEO Briefing: Sustainability Banking in Africa (670 KB | 12 pages)

This CEO Briefing summarises the main findings of the Sustainability Banking in Africa Report (PDF: 930 KB), produced by the African Institute of Corporate Citizenship (AICC) in 2004. It provides an overview of what sustainability banking means in the African context, analyses the current role of the finance sector in the promotion of sustainability in Africa and in so doing provides examples that are potentially replicable elsewhere across the continent.

Published: 2005 | By: UNEP FI

Challenges of Water Scarcity: A Business Case for Financial Institutions (2 MB | 36 pages)

The work presented in this report by the United Nations Environment Programme Finance Initiative (UNEP FI) and the Stockholm International Water Institute (SIWI) highlights the importance of private sector participation in the water sector for the benefit of water sustainability.

The report calls on financial institutions to become aware of the challenges of water scarcity and to engage in actions to overcome them through risk management tools, investments and dialogue with business partners, national governments and local communities.

Published: 2005 | By: UNEP FI / Stockholm International Water Institute

0.618... - Issue 5 (951 KB | 20 pages)

In this issue: UN Responsible Investment Initiative; Universal owners, fiduciary duty and materiality; Transparency initiatives; Enhanced Analytics Initiative; Mobilizing ownership - the civil economy agenda; Changing mandates; Insights into outsourcing; The new frontier - responsible investment in emerging markets; Regulator perspective; Regional updates - Brazil, Japan, Emerging Europe, South Africa; UNEP FI publications.

Published: 2005 | By: UNEP FI

CEO Briefing on Finance for Carbon Solutions (1.3 MB | 8 pages)

This paper from the UNEP FI Climate Change Working Group (CCWG) focuses on the Clean Development Mechanism (CDM) and builds on the CCWG's work on carbon finance.

The briefing pinpoints barriers to implementation and financing of CDM projects as seen from the financial sector perspective. Recommendations on how these barriers can be overcome are provided.

Published: 2004 | By: UNEP FI

Australasian UNEP Finance Initiative Newsletter - Issue 8 (252 KB | 19 pages)

In this issue: National Australia Bank 'Steps UP'; Financial Product SRI Disclosure Guidelines; Sustainable Insurance in New Zealand; Helping to Green Australian Households; Protecting Pensions and the Planet; A Changing Climate for Insurance; Enhanced Transparency at Aviva Australia; Global Compact Leaders Summit; From Crop to Shop; Ethical Investment Association Conference; Australian Sustainability Reporting Survey; UNEP FI International Updates

Learn more about UNEP FI activities in Australasia.

Published: 2004 | By: EPA Victoria

Sustainability Banking in Africa (930 KB | 84 pages)

The report acts as a benchmark discussion document outlining the challenges and opportunities for developing sustainability banking practices in Africa.

Through the support of five case studies in South Africa, Botswana, Kenya, Nigeria and Senegal, it is hoped that this report will encourage active debate regarding the principles and practices of sustainability banking in Africa, and will pave the way to uncovering unique strategies to advance the sustainability agenda within the continent.

This publication was supported by the UNEP FI African Task Force, International Finance Corporation (IFC), Finmark Trust, Nedbank and Deutsche Bank.

Published: 2004 | By: AICC Centre for Sustainability Investing

Finance and Sustainability in Central and Eastern Europe (423 KB | 8 pages)

UNEP FI conducted a survey of 26 financial institutions in 14 Central and Eastern European (CEE) countries. The aim of the survey was to gain understanding of the current status of sustainable finance in the region’s financial sector and the main drivers and barriers financial institutions are facing. The respondent financial institutions were drawn both from EU accession and non-EU countries and included larger Western corporations as well as locally owned financial institutions.

Published: 2004 | By: UNEP FI

Challenges of Water Scarcity: A Business Case for Financial Institutions - Preliminary Findings (509 KB | 8 pages)

Preliminary findings from a UNEP FI / Stockholm International Water Institute study on water-related risks for financial institutions. The study raises awareness of water scarcity and highlight opportunities for the financial sector for contributing to sustainable development through active engagement in mitigating water related risks.

Cases from Latin America and Africa demonstrate a diversity of risk drivers and consequences to projects / businesses and financial partners as a result of water scarcity issues.

Published: 2004 | By: UNEP FI / Stockholm International Water Institute

UNEP FI African Task Force Brochure (2.1 MB | 2 pages)

A group of UNEP FI signatories and partners have constituted an African Task Force to support and expand sustainable financial practice in Africa.

This brochure provides an overview of the UNEP FI African Task Force's background, objectives and activities.

French (519 KB)

Published: 2004 | By: UNEP FI

Investing in Stability: Conflict Risk, Environmental Challenges, and the Bottom Line - Summary Report (571 KB | 44 pages)

This collection of papers aims to stimulate debate on the interactions between finance and conflict, and to explore opportunities to improve financial institutions' management of these interactions. Concerning itself principally with voluntary actions, this report seeks to identify mechanisms whereby firms could help to reduce the economic drivers and impacts of violence and terrorism, in areas where profitability and social responsibility align.

Published: 2004 | By: UNEP FI / International Institute for Sustainable Development (IISD)

CEO Briefing: The Materiality of Social, Environmental, and Corporate Governance Issues to Equity Pricing (746 KB | 6 pages)

The UNEP FI Asset Management Working Group invited stock brokerage firms for an analysis of seven industry sectors. Analysts were requested to identify specific environmental and social criteria likely to be material for company competitiveness and reputation in those sectors, and, where possible, to quantify their potential impact on stock price.

This is a distilled version of the full report (PDF: 1.1 MB), including the key results of this study, and its recommendations and conclusions.

Published: 2004 | By: UNEP FI

The Materiality of Social, Environmental, and Corporate Governance Issues to Equity Pricing (1.1 MB | 54 pages)

The UNEP FI Asset Management Working Group invited stock brokerage firms for an analysis of seven industry sectors.

The analysts were requested to identify specific environmental and social criteria likely to be material for company competitiveness and reputation in those sectors. We also asked the analysts to the extent possible to quantify their potential impact on stock price.

This report documents the results of this study, and its recommendations and conclusions.

Published: 2004 | By: UNEP FI

The Asset Management Working Group: What, Why, Who? (265 KB | 6 pages)

A group of UNEP FI signatories have constituted an Asset Management Working Group to explore whether environmental, social, and corporate governance considerations are sufficiently incorporated in asset management.

This publication introduces the member companies and provides an introduction to their work.

Published: 2004 | By: UNEP FI

Values to Value: A Global Dialogue on Sustainable Finance - Executive Summary (265 KB | 25 pages)

A compilation of essays from sustainable finance experts and practitioners from around the world, Values to Value is based on the two-year UNEP FI ‘Global Tour’ conference series.

The report is divided into thematic sections, including Asset Management; Climate Change; Export Credit Agencies; Environmental Management, Reporting and Indicators; and Financial Systems; along with region-specific coverage.

Buy Values to Value online from Earthprint.

More information about Values to Value.

Published: 2004 | By: UNEP FI

Implementing Responsible Investment - Summary Report (249 KB | 34 pages)

Summary report from, "Implementing Responsible Investment: A United Nations Investor Roundtable" held 16 June, 2004 by the UNEP FI Asset Management Working Group.

Topics include: the materiality of environmental, social, and corporate governance issues; responsible investment and fixed income portfolio management; best-practice shareholder engagement strategies, and responsible investment in emerging markets.

Published: 2004 | By: UNEP FI

CEO Briefing on Renewable Energy (375 KB | 8 pages)

This paper presents the business case for financing renewable energy. It presents concrete examples and makes strong policy recommendations for further action.

The briefing builds on the UNEP FI Climate Change Working Group's study on climate change and the financial services sector and its review of emissions trading as a financial tool.

Published: 2004 | By: UNEP FI

UNEP FI 2003 Overview (264 KB | 6 pages)

This summary document provides an overview and introduction to the structure and activities of UNEP FI - through its working groups and task forces, and highlights key meetings and publications from 2003.

Published: 2004 | By: UNEP FI

CEO Briefing on Emissions Trading (200 KB | 8 pages)

This briefing from the UNEP FI Climate Change Working Group (CCWG) explores the issue of emissions trading from a financial sector perspective.

It follows up on some of the key recommendations of the CCWG study on Climate Change and the Financial Services Industry, outlining the current political developments, explaining the manner in which companies are affected, and discussing the risks and opportunities emissions trading presents. The briefing also discusses the role of financial services providers in diminishing the respective risks and creating new opportunities.

Published: 2004 | By: UNEP FI

Working Towards a Better Climate... (227 KB | 3 pages)

UNEP FI has been engaged in climate change issues since 1994. The main objective of the Climate Change Working Group (CCWG) is to engage the financial sector on the risks and opportunities climate change presents and to enable it to play a key role in delivering market solutions that mitigate its effects.

This brochure outlines the CCWG's key aims, achievements, and members.

Published: 2003 | By: UNEP FI

Sustainable Energy Finance Initiative (SEFI) (223 KB | 4 pages)

UNEP is working to create the policy and economic framework where sustainable energy can increasingly meet the global energy challenge.

This brochure introduces SEFI - a platform to provide financiers with the tools, support and networks to drive financial innovation that improves the environmental performance of the energy mix.

More details are available on the Sustainable Energy Finance Initiative website.

Published: 2003 | By: UNEP FI / UNEP Energy / Basel Agency for Sustainable Energy (BASE)

Investing in Stability: Conflict Risk, Markets and the Bottom Line - Brochure (1.5 MB | 8 pages)

The project brochure summarises the preliminary attempts to identify linkages between financial institutions' activities and conflict and conflict related risks. The brochure offers suggestions how financial institutions can reduce their exposure to negative linkages with conflict and at the same time contribute proactively to conflict prevention and peace-building.

Published: 2003 | By: UNEP FI / International Institute for Sustainable Development (IISD)

0.618... - Issue 4 (295 KB | 12 pages)

In this issue: Sustaining value: tipping point test for finance; Sustainable finance in Japan; NGOs chart a new course for financial institutions; African perspectives; Creating a market for greenhouse gas emissions reductions; Sustainable Energy Finance Initiative launch; Australasian update; UNEP FI activities.

Published: 2003 | By: UNEP FI

Mainstreaming Sustainable Investment - Summary Report (57 KB | 9 pages)

This report is a summary of the UN Global Compact / UNEP FI Joint Workshop on Investors and Sustainability, held on 17 September, 2003.

Participants and the meeting discussed the issue of sustainable investment initiatives and strategies for integrating sustainable investment into the mainstream financial community.

Published: 2003 | By: UNEP FI

Investing in Stability: Conflict Risk, Markets, and the Bottom Line - Workshop Report (London) (285 KB | 7 pages)

The report summarises discussions at the UNEP FI / IISD expert workshop on fiance and conflict on 5 September 2003.

The meeting brought together financial sector actors (banks, asset managers, insurance companies, and export credit agencies (ECAs)), as well as representatives from governments, NGOs, academia and research firms, to discuss the relevance of conflict for the financial sector and the role of financial institutions in conflict prevention and mitigation.

Published: 2003 | By: UNEP FI / International Institute for Sustainable Development (IISD)

Benefits: North American Financial Institutions (183 KB | 6 pages)

Overview of benefits of joining UNEP FI and the North American Task Force.

The UNEP FI North American Task Force is comprised of signatories to the UNEP FI Statements and has a specific mission to support and expand sustainable financial institution practice in North America.

Published: 2003 | By: UNEP FI

Your Financial Institution and the Environment (1.5 MB | 12 pages)

An introduction to environmental risk issues, and the need for environmental risk management and due diligence policies and procedures in financial institutions.

Published: 2003 | By: UNEP FI / Environmental Bankers Association

Environmental Disclosures in Financial Statements - Event Report (623 KB | 28 pages)

Summary report from "Environmental Disclosures in Financial Statements: New Developments and Emerging Issues" held 26 February 2003 in New York.

Meeting discussed use of environmental information (reported voluntarily by companies, or mandated by regulators) in mainstream financial analysis. Participants considered "supply-side" and "demand–side" barriers to the integration of environmental information into financial statements.

Published: 2003 | By: UNEP FI / Commission for Environmental Cooperation (CEC) of North America

Risk, the Environment, and the Role of the Insurance Industry (414 KB | 53 pages)

Prepared by the UNEP FI Australasian Advistory Committee on Insurance, this publication discusses risk management in general and the role that insurance plays in risk management for businesses. It focuses on environmental risk as one of the sources of potential liability that a business would manage, and the potential consequences of not properly managing environmental risk.

Drawing in part from the Australian experience in this area, the report also looks at how insurance addresses liability for environmental risk at present, and considers whether there is a broader role for insurance in an environmentally sustainable future.

Published: 2003 | By: UNEP FI / EPA Victoria (Australia)

0.618... - Issue 3 (461 KB | 16 pages)

In this issue: Corporate governance: when worlds collide; Rules, ratings or values: encouraging good corporate governance; Australasian activities; Regulatory and voluntary codes of practice; Sarbanes-Oxley; The perfect storm: climate change and the new fiduciary; UNEP FI activities.

Published: 2003 | By: UNEP FI

Finance, Environment, and Sustainable Development - European Seminar Report (878 KB | 50 pages)

Summary report from the European Seminar on Finance, Environment and Sustainable Development (Paris, 2003).

The report discusses corporate responsibility, capital markets, and qualitative risk issues. The seminar also covered Financial Institution Case Studies in Project and Portfolio Risk Management; Integrating Sustainability Criteria into Fund Management, and Climate Change, Fiduciary Responsibility and Disclosure.

French (PDF: 889 KB)

Published: 2003 | By: UNEP FI

Risk on Trial: The Changing Face of Non-Quantitative Risk (298 KB | 6 pages)

Summary report from the UNEP FI Ratings Roundtable (Paris, 2003).

This report summarizes a meeting in which representatives from various rating agencies came together discuss the issue of non-financial (sustainability/ qualitative) risk and its implications for the rating industry. This group of senior executives representing credit, equity, governance, environmental and ethical rating agencies were joined by regulators to provide their perspectives on the topic and the perceived impact on their industry.

Published: 2003 | By: UNEP FI

Financing Sustainable Energy Directory: A Listing of Lenders and Investors (474 KB | 127 pages)

The Financing Sustainable Energy Directory is an inventory of lenders and investors who provide finance to the renewable energy and energy efficiency sectors. It is designed to help project developers and entrepreneurs seeking capital, as well as investors looking for financing vehicles.

An online version of the directory is available at http://www.fse-directory.net/

Published: 2002 | By: UNEP FI / UNEP Energy / Basel Agency for Sustainable Energy (BASE)

Industry as a Partner for Sustainable Development: Finance and Insurance (471 KB | 76 pages)

The UNEP Division of Technology, Industry, and Economics (DTIE) facilitated a multi-stakeholder process to prepare 22 industry sector reports in advance of the World Summit on Sustainable Development (Johannesburg 2002).

In this report, key actors from the finance and insurance sector examine progress towards sustainable development and outline future challenges and actions to be taken.

Published: 2002 | By: UNEP Division of Technology, Industry, and Economics (DTIE)

CEO Briefing on Climate Change (677 KB | 8 pages)

This paper summarises the main findings of a major two-phase study on the financial services sector and climate change for corporate decision-makers at executive board level and for key government policy-makers.

The study shows why climate change is relevant to the financial services industry and explains the need for long-term, market-based, frameworks to foster finance sector participation.

Translations

French (278 KB) | German (250 KB) | Japanese (1.6 MB)

Published: 2002 | By: UNEP FI

Climate Change and the Financial Services Industry - Module 2: A Blueprint for Action (277 KB | 50 pages)

Part 2 of a two-phase study on the financial services sector and climate change commissioned by the UNEP FI Climate Change Working Group.

Part 2 examines in detail the possible future role of the finance sector in dealing with climate change, the prevailing attitudes of financial services companies in responding to the issue, the various barriers to action and the kinds of activities currently being implemented.

Published: 2002 | By: UNEP FI / Innovest Strategic Value Advisors