Webinar on Climate Risks and TCFD: Focus on Middle East and Africa

14-15 July 2020 | Webinar

This two-part webinar organized by UNEP Finance Initiative (UNEP FI) will explore climate risks and opportunities, including the significance and impact of climate risks on financial institutions, with a focus on Middle East and Africa. Further, the webinar will cover a deep-dive on implementation of the Task-Force on Climate-related Financial Disclosures (TCFD) framework. This is the first part of a series of UNEP FI webinars on climate risks and TCFD for Middle East and Africa.

The webinar is suitable for professionals working in banking, insurance, investment, risk management, financial regulation, sustainability, and anyone interested in the linkage of climate risks to business financial risks. Session 2 will cover recent developments in climate risk management and the implementation of climate risk programs at company level.

Speakers at the webinar include:

  1. David Carlin – TCFD Program Lead, UNEP FI
  2. Madeleine Ronquest – Head of Environmental and Social Risk Management, FirstRand Group, South Africa
  3. Ahmed Badr – Acting Director, Project Facilitation & Support Division, IRENA
  4. Jef Vincent – Programme Officer, Renewable Energy Finance, IRENA
Please note: You need to register for both sessions separately (each session is 90 mins).

14 July – Session 1 – 10:00-11:30 CET/ 11:00-12:30 EAT/ 12:00-13:30 UAE local time – Register for session 1

15 July – Session 2 – 10:00-11:30 CET/ 11:00-12:30 EAT/ 12:00-13:30 UAE local time – Register for session 2

Tobacco Free Portfolios’ High-Level Webinar for World No Tobacco Day

27 May 2020 | Webinar

 27 May  2020

08:00 EST |13:00 BST | 14:00 CEST | 22:00 AEST

Tobacco Free Portfolios is co-hosting a global High-Level webinar in collaboration with the UNEP FI and the UN-backed Principles for Responsible Investment. 

Register now

Financial organisations are increasingly focused on Global Health, with COVID-19 and tobacco proving to be an especially dangerous combination.  During the webinar, new Signatories will be welcomed to the Tobacco-Free Finance Pledge and the first adopters of the new Pledge Stamp will be showcased. The webinar will feature remarks from a full suite of VIPs from health, finance and UN agencies, including:

  • Inger Andersen, Executive Director, UNEP
  • Dr. Tedros Ghebreyesus, Director-General, World Health Organization
  • HRH Princess Dina Mired of Jordan, Global Ambassador Tobacco Free Portfolios and President, Union for International Cancer Control
  • Fiona Reynolds, CEO, Principles for Responsible Investment
  • Nobel Laureate Professor Peter Doherty AC, Covid-19 Expert
  • Richard Curtis, SDG Advocate, Film Director (Notting Hill, Bridget Jones’ Diary, Love Actually), Co-Founder of Make My Money Matter
  • CEOs from major global financial organisations that will announce becoming Signatories to the Tobacco-Free Finance Pledge
  • CEOs from major global financial organisations that will announce becoming first adopters of the Pledge Stamp

Register now

UNEP FI launches new holistic impact analysis tools for the finance sector

2 April 2020

2 April 2020 – UN Environment Programme Finance Initiative’s (UNEP FI) Positive Impact Initiative (PII) has launched two new tools for corporates, banks and investors to work together and step up their capacity to deliver on the Sustainable Development Goals (SDGs).

With millions of people affected in their daily lives across the globe by the COVID 19 pandemic, there has rarely been a time where the interdependence between countries, economies and communities have been brought to bear on our minds so clearly. It is perhaps easier under the current circumstances to understand why the SDGs were presented to the world as ‘interconnected and indivisible’. It is not enough to consider one topic at a time. Now, in a time of crisis, the need for a holistic and impact-driven approach to business and finance is clear for all to see.

Following the release of the Principles for Positive Impact in 2017, the Rethinking Impact thought piece and two sets of practitioner guidance (Impact Radar and Model Frameworks) in 2018, UNEP FI is now releasing two hands-on tool prototypes that will enable banks, investors and their service providers to implement this new, holistic approach to impact analysis and management.

The Corporate Impact Analysis Tool helps banks and investors gain a cross-cutting view of the impact status and possibilities of their clients and investee companies. It was developed through a Working Group of banks, investors and service providers. Following the Positive Impact Initiative’s unique approach, the Tool enables users to perform a holistic analysis of companies, based on the reality of those companies’ business activities and the needs of the countries in which they operate, whether for sourcing, production or sales.

This involves a 360-degree review of economic, environmental and social impact areas, as portrayed in the PII Impact Radar, systematically looking at both positive and negative associations; this holistic approach should enhance risk management, as well as opportunity identification. Ultimately, the Tool is intended to help financial and non-financial institutions collaborate more strategically to reduce negative impacts and increase positive impacts.

“As a co-founder of UNEP FI’s Positive Impact Initiative we highly value the unique space offered by the Initiative to share best practice and work collaboratively on building common frameworks and tools for impact analysis and management. As a founding signatory to the Principles for Responsible Banking, our bank is fully committed to identifying and managing impacts with our clients. This collective effort and the tools are essential to provide responsible and innovative financial solutions enabling companies to accelerate their transformation, design new business models, and collectively deliver the Sustainable Development Goals.’ – Diony Lebot, Deputy CEO, Societe Generale

The Portfolio Impact Analysis Tool for Banks is designed to guide banks through a top-down analysis of their portfolios using the same holistic methodology as the Corporate Impact Analysis Tool. Developed jointly with UNEP FI member banks and signatories of the Principles for Responsible Banking, this tool helps banks gain a global view of their impacts, based on the nature of what they finance, the impact needs of the countries they are active in, and their current level of performance. The analysis will allow banks to set targets vis a vis their most significant impact areas, where it matters most, in order to drive their contribution to society’s goals.

Working with clients will be key for achieving targets that make significant contributions to society. For this, the two tools can helpfully be used in tandem; the banking portfolio tool to identify priority impact areas, sectors and geographies, the corporate tool to take action on these impact areas, sectors and geographies, focusing as a matter of priority on those corporates that are systemically important from a thematic, sector and/or geographic perspective.

The Portfolio Impact Analysis Tool currently covers consumer banking, business banking, corporate banking and investment banking portfolios.

 ‘The portfolio tool redefines the boundaries of what, as banks we should be focusing on to strategically manage our positive and negative impacts” – Derya Ozet Yalgi, Head of Sustainable Finance, Garanti Bank BBVA

By applying a common and action-oriented methodology to corporates, their financiers and investors, the two complementary tools are meant to drive collaboration across the investment chain and significantly boost the private sector’s ability to act on and remain relevant in an SDG world. Collaboration, innovation and the drive for impactful business models will also be key to the recovery process from the COVID pandemic and ensuring that societies are better prepared and protected against future shocks. The bottom line is: we’re in this together.

The Impact Analysis Tools are open source and freely available, in a deliberate effort to promote transparency and continue to create a space for debate, consensus-building and harmonization.

Find out more on www.unepfi.org/positive-impact


NOTES FOR EDITORS

Quotes:

  • ‘An eye-opening experience. Expect the Portfolio Tool to become universal and essential for bank strategy.’ – Dimitrios Dimopoulos, Director, Sustainability Unit, Piraeus Bank
  • ‘One of the most interesting things about the tool is its ability to reveal opportunities; for instance, the holistic approach helps identify alternative financing options to overcome negative impacts.’ – Nehru Pillay, General Manager, Research and Intelligence, Land & Agricultural Development Bank of South Africa
  • ‘Understanding the bank’s impacts is no small undertaking. The tool helps do this one step at a time, in an iterative process over time.’ – Mette Kornvig, Vice President, Head of Regulations, Jyske Bank.
  • ‘The tool has provided a clear, step by step methodology to address the complex issue of understanding our bank’s impacts.’ – Cataline Cano, Bancolombia

Contacts:

About the PI Initiative

The Positive Impact Initiative (PII) is a think-and-do-tank within UNEP FI focused on closing the $2.5 trillion SDG financing gap. Based on a unique theory of impact, PII works with finance sector representatives and other stakeholder groups to mainstream impact analysis and management in business and finance as a cornerstone to financing the SDGs.

Please read: Rethinking Impact to Finance the SDGs for more background on our theory of impact, or read more about the need for a holistic approach to impact here.

About UNEP FI

United Nations Environment Programme Finance Initiative (UNEP FI) is a partnership between UNEP and the global financial sector to mobilize private sector finance for sustainable development. UNEP FI works with more than 300 members – banks, insurers, and investors – and over 100 supporting institutions – to help create a financial sector that serves people and planet while delivering positive impacts. We aim to inspire, inform and enable financial institutions to improve people’s quality of life without compromising that of future generations. By leveraging the UN’s role, UNEP FI accelerates sustainable finance.

 

UNEP FI Corporate Impact Analysis Tool

Published March 2020

The Corporate Impact Analysis Tool helps banks and investors gain a cross-cutting view of the impact status and possibilities of their clients and investee companies. Based on the Positive Impact Initiative’s unique approach, it provides a holistic analysis of companies’ impacts across different sectors and countries.

Download tool here

The findings of the Tool are intended to help users manage their portfolios, set and meet impact targets, and ultimately become more effective at managing impact related risks and opportunities in close collaboration with their clients and investee companies.

It is also anticipated that the Tool may be used by corporates themselves as a contribution to strategic planning and business development.

The Tool is open source and freely available (for direct use or for adaptation and integration into proprietary systems), in a deliberate effort to promote transparency and continue to create a space for debate, consensus-building and harmonization.


Feedback

This is the very first edition of the Corporate Impact Analysis Tool. Help us to improve it!

Whatever your profile your views are important:

  • If you are a financial institution, or a non-financial company, please share your user experience and feedback with us
  • If you are a topic or impact expert, help us to refine the Tool’s in-built sector-impact mappings
  • If you are a policy-maker, a regulator or other form of standard-setter, help up us to go further in connecting the dots between your standards, policies or regulations and the Tool.

Contact: positiveimpact@unepfi.org


Disclaimer

The conclusions derived by users via the Tool are their own. Only the Tool methodology can be attributed to UNEP FI.

UNEP FI Portfolio Impact Analysis Tool for Banks

Published

The Portfolio Impact Analysis Tool for Banks represents a great step forward for holistic impact analysis in banking. Developed jointly by the Positive Impact Initiative with signatories of the Principles for Responsible Banking and UNEP FI Member Banks, the Tool will help banks analyze the impacts associated with their retail (consumer and business banking) and wholesale (corporate and investment banking) portfolios. The analysis will enable banks to set targets where it matters in order to drive their contribution to society’s goals, as required by the Principles for Responsible Banking.

Download the Tool here

The Tool is open-source. It is a priority for UNEP FI to ensure transparency and replicability. All technical specifications are provided inside the Tool.


Feedback

This is the very first edition of the Portfolio Impact Analysis Tool for Banks. Help us to improve it!

  • If you are a bank, please share your user experience and feedback with us
  • If you are a topic or impact expert, help us to refine the Tool’s in-built sector-impact mappings

Contact: positiveimpact@unepfi.org


Disclaimer

The conclusions derived by users regarding their most significant impact areas and areas of priorities are their own. Only the tool methodology can be attributed to UNEP FI.

Launch: UNEP FI Impact Analysis Tools

2 April 2020 | Online

                                                                                                                                       

Launch of UNEP FI Corporate Impact Analysis Tool & Portfolio Impact Analysis Tool for Banks

UNEP FI has launched two hands-on tool prototypes that will enable banks, investors and their service providers to implement a holistic approach to impact. Watch the live demos and launch webinars below.

Watch the afternoon webinar here.

Global Roundtable 2020: Venue

Due to the ongoing COVID-19 pandemic, UNEP FI has made the decision to host the GRT2020 virtually. The GRT2020 virtual event platform will allow space for keynotes, high-level dialogues, panels, workshops, networking and much more! More information to be announced soon.

Global Roundtable 2020: Agenda

The GRT2020 will cover topics including:

  • Principles for Responsible Banking: 1 year on
  • Principles of Sustainable Insurance: next steps
  • Climate commitments in the finance industry
  • TCFD for banks, insurers and investors
  • Portfolio alignment with the Paris Agreement
  • Adaptation and resilience finance
  • Energy efficiency finance
  • Financial inclusion on a global scale
  • Aligning Taxonomies on sustainable finance
  • Biodiversity targets in the finance industry
  • Land use finance
  • Legal framework for impact in investment
  • Sustainable Blue Ocean Economy
  • Positive Impact finance
  • Transition Finance
  • Modern slavery
  • Circular economy finance

And more…

To suggest a topic for the GRT2020, please email grt@unepfi.org 

UNEP FI at COP25: Highlighting finance sector action to governments, boosting climate finance ambition

The annual gathering of governments, private sector and civil society will now take place in Madrid, Spain between 2 and 13 December to further action on climate change and implement the promises that were made under the Paris Climate Agreement. Find out what UNEP FI is doing at COP25 to bring the latest climate commitments made by UNEP FI members to the attention of policymakers. UNEP FI members can attend many of the events – check out the list below and get in touch if you have questions about accreditation.

During the UN Secretary General’s 2019 Climate Action Summit, UNEP FI launched two high-ambition initiatives that will be key drivers of finance sector action on climate change in the coming years. 33 of the banks who signed the new Principles for Responsible Banking also launched a collective commitment to climate action, and 12 very large institutional investors unveiled the UN-convened Net-Zero Asset Owner Alliance.

With these two pledges, financial heavyweights like Allianz, SwissRe, Calpers, Societe Generale, BBVA, as well as institutions from Latin America such as BFA and Produbanco are committing to fully align their financial portfolios with the mitigation objectives of the Paris Agreement with intermediate targets every 5 years.

These groups are a natural response to the now established recognition that more sophisticated management of climate-related risks and a more systematic disclosure of such risks by financial institutions might actually not lead to a ‘greening’ of these institutions’ practices. In fact, the contrary could conceivably be the case. UNEP FI is therefore now advocating for an evolution from a risk-based narrative in climate finance towards a norms-based one. This narrative will emphasise (measurable and traceable) outcomes and impacts as opposed to procedural aspects of financial institutions’ behaviour. The two initiatives are a first credible indication of the success of this advocacy.

At COP25, UNEP FI will be bringing the new ambition in climate change action born at the Climate Action Summit in New York to the attention of governments worldwide, building on our dialogue with the Coalition of Finance Ministries on Climate Action and reaching out to other parts of society to encourage more ambitious action.

As financial institutions move beyond an approach to climate change finance that is purely risk-based and towards an approach that is also normative, and focused on environmental outcomes and impacts, banks, insurers and investors will have to turn their attention to their business models, and ensure their portfolios are not only compatible with but also enable the climate mitigation objectives of the Paris Agreement.

This new ambition will require combining the financing of the decarbonization of the economy – to prevent the worst form of climate change – with financing the adaptation of socio-economic systems to the climate change that cannot be mitigated.

UNEP FI is implementing this new ambition through three platforms: the two afore-mentioned initiatives with banks and asset owners, and our adaptation work which cuts across all financial industries. Read more about our platform on adaptation here.

UNEP FI at COP25

For more information on these events and to find out if you can get accreditation through UNEP FI email climate@unepfi.org.

Date and TimeLocation/AccessDetailsUNEP FI Member Participants
5th December 10:00-13:00Roundtable Room (tbc)Pressing Record on Climate Action

The objective of this two-day workshop is to put into motion a framework towards establishing metrics for tracking progress. This will enable cooperative and individual climate actions to be tracked from going forward in such a way that they will ultimately appear on the Global Climate Action portal and be utilized by the broader analytical and research community.
(None)
9th December 10:30-12:00within the COP perimeter, COP accreditation requiredPanel discussion: “The role of public finance for climate action in context of a new climate finance goal”

Focusing on the key role of public finance to support climate goals in developing countries including through fiscal, economic, and financial policies to cut emissions and prioritize low-carbon growth.

Watch session recording here.
Guenther Thallinger, CIO, Allianz
9th December 18:30-20:00within the COP perimeter, COP accreditation requiredInvestors, companies and Governments stepping up climate ambition in 2020 for a net-zero future
An Investor Agenda official side event, co-convened by UNEP FI.
Divya Mankikar, CalPERS
(Aviva Investors CIO, Pending Accreditation)
10th December 15:00-16:30Pavilion'Aligning Financial Flows with the 1.5 Climate Goal'
• Asset owners have committed to align investments with the 1.5°C goal
• Examples of tools that asset owners can use to implement their 1.5°C commitment
• Asset owner view
• Closing remarks by Margaret Kuhlow
Thomas Liesch, Allianz
11th December 10:00-12:00within the COP perimeter, COP accreditation requiredCaring for Climate – Global Compact Event

Watch session recording here.
Odd Arild Grefstad, CEO, Storebrand
11th December 15:00-16:00within the COP perimeter, COP accreditation requiredPress Briefing - UNFCCC Climate Ambition Alliance Karin Greve-Isdahl, Storebrand EVP
11th December Afternoonwithin the COP perimeter, COP accreditation requiredHigh Level Event with SG on Climate Ambition AllianceAXA CIO for Spain (TBC)
11th December 16:45-18:15within the COP perimeter, COP accreditation requiredClimate Alignment in the Financial Sector: An official side event by UNEP FI & Partners

This event will provide participants with a deeper understanding of what climate alignment is and how leading public and private financial institutions are working towards it.

In partnership with the Climate Policy Initiative, and the Rocky Mountain Institute
Paul Bodnar, Rocky Mountain Institute, Sylvain Vanston, AXA, Sarah Breeden, Bank of England, Barbara Buchner, Climate Policy Initiative, Remco Fischer, UNEP FI, Boitumelo Mosako, DBSA, Franco Piza, Grupo Bancolombia and Hubert Ruzibiza, Rwanda Green Fund.
12th December 10:00-12:00 outside of the COP perimeter, no accreditation required but invitation onlyUNEP FI’s official side event: New Climate Leadership

To clarify what climate leadership from financial institutions looks like today, showcase the new climate ambition from financial institutions and explore how to scale up this work.

In partnership with the Principles for Responsible Investment (PRI), the Corporacion Andina de Fomento (CAF), and Finisterrae University.

Watch session recording here.
Nadia Calviño, Spanish Minister of the Economy and Business
Margarita Delgado, Central Bank of Spain
Inger Andersen, UNEP
Carlos Torres Vila, BBVA
José Antonio Álvarez, Santander

 

Find out more about COP25 here.

UNEP FI Regional Roundtable Europe 2019: Highlights

5 December 2019

The UN Environment Programme Finance Initiative (UNEP FI), Luxembourg for Finance (LFF) and Global Landscapes Forum (GLF) joined forces for three days to welcome over 500 sustainable finance professionals to Luxembourg on 28-30 November 2019.

The events, co-hosted by the Luxembourg Ministry of Finance and Ministry of the Environment, Climate and Sustainable Development, created a platform for financial sector leaders to demonstrate shifts to a sustainable global economy. Speakers included Valdis Dombrovskis, Vice President of the European Commission, HE Carole Dieschbourg, Luxembourg Minister for the Environment, Climate and Sustainable Development, Dr Werner Hoyer, President of the European Investment Bank and Eric Usher, Head of UNEP FI.

 “This is a man-made crisis. We can be the actors of change and turn this crisis into an opportunity.” – HE Carole Dieschbourg, Luxembourg Minister for the Environment, Climate and Sustainable Development

The keynote speech by Valdis Dombrovskis, Vice-President of the European Commission, highlighted that the financial sector has a great potential to drive change. The push for green technologies and shifts in consumer and green investment preferences is leading to policy change at EU level. He shared progress on the EU Action Plan and the new Commission’s proposed “New Green Deal for Europe”, which they hope to approve in the first 100 days.

Dr. Werner Hoyer, President, European Investment Bank (EIB) highlighted the bank’s latest commitments to phasing out lending for all fossil fuel projects due to climate change concerns. The EIB will not take on any new fossil fuel investments from 2022. “We will stop financing fossil fuels and we will launch the most ambitious climate investment strategy of any public financial institution anywhere,” said EIB President Werner Hoyer. This strategy includes unlocking €1 trillion in climate- and environment-related investments in the decade leading up to 2030, and comes with a commitment to align the EIB’s financing activities with the goals of the Paris Climate Agreement by the end of 2020.

“If financial service providers deliver the right products, it is possible to go from the billions to the trillions.” – HE Pierre Gramegna, Luxembourg Minister of Finance in his speech during a dinner hosted by Luxembourg for Finance and the Government of Luxembourg

During a high-level dialogue on climate commitments, Gunther Thallinger, Board Member of Allianz and one of the architects of the Net Zero Asset Owner Alliance, along with José Manuel González-Páramo, Executive Board Member and Head of Global Economics & Public Affairs, BBVA spoke about why investors and banks need to make ambitious climate commitments. Founding members of the UN-convened Alliance made a bold commitment at the UN Secretary-General’s Climate Summit in New York in September: to transition their investment portfolios to net-zero GHG emissions by 2050. Last week, AXA, Aviva, CNP Assurances and Fonds de Réserve pour les Retraites (FRR) joined the Alliance, raising total assets under management targeting carbon neutrality by 2050 to nearly USD 4 trillion. As a complimentary initiative, the Collective Commitment to Climate Action for banks was also launched in September. 34 banks representing USD 13 trillion have so far joined the Collective Commitment to align their portfolios to reflect and finance the low-carbon, climate-resilient economy required to limit global warming to well-below 2, striving for 1.5 degrees Celsius.

During the panel on the Principles for Responsible Banking, the CEOs of Banque Raiffeisen and Banque et Caisse d’Épargne de l’État (BCEE) announced that they had become the first banks in Luxembourg to sign up to the new banking framework. The panel also consisted of representatives from Barclays, Santander and the European Banking Authority as well as ShareAction, an NGO that has endorsed the Principles and promises to hold the banks accountable for their activities. Now that the Principles have launched, efforts are now focused on implementing them across the banking sector. Banks are required to report publicly on their positive and negative impacts, their contribution to society’s goals and their progress in implementing the Principles, and to engage with key stakeholders on their impacts – signatories now have 18 months to publish the first reporting and self-assessment which will be publicly available from 2021.

Financial centre roadmaps and strategies to advance sustainable finance were a focus of a plenary led by Stephen Nolan, Managing Director of the UN Environment hosted Financial Centres for Sustainability (FC4S). The session explored how roadmaps and strategies are being developed and implemented, some of the challenges and barriers, and the implications of leadership provided by governments versus market actors. Last year, Luxembourg launched a Sustainable Finance Roadmap with UNEP FI, which touched on many facets of the financial market, such as the development of financial products for sustainable finance, the development of training and education programmes, or the promotion of innovation to finance sustainable development.

“We must improve quickly. We are up against the clock. The next few years will be critical and while States are encouraged to upgrade their pledges under the Paris Agreement, the financial sector will also see benefits and play its societal role by fostering change, adaptation and transformation in the private and public sectors, to the benefit of all and for the good of future generations.” – Bruno Pozzi, Europe Director, UN Environment Programme

The event included several official launches, including the Sustainable Blue Economy Finance platform. This initiative will create a community of practice to bring together financial institutions, scientists, stakeholders in the ocean economy and other experts to support implementation of the Sustainable Blue Economy Finance Principles developed by the European Commission, WWF, the Prince of Wales’s International Sustainability Unit (now embedded into the World Resources Institute) and the European Investment Bank. The Initiative’s aim is to accelerate financing of economic activities from ocean-based industries, resources and ecosystem services that are in balance with the long-term capacity of the assets, goods and services of marine ecosystems.

The event also saw the launch of the TCFD pilot project report and investor guide to scenario-based climate risk assessment in real estate portfolios. Twelve institutional investors from eight countries, convened by UNEP FI and supported by Carbon Delta, have worked throughout 2018–2019 to analyse, evaluate, and test, state-of-the- art methodologies to enable 1.5°C, 2°C, and 3°C scenario-based analysis of their direct property investment portfolios in line with the recommendations of the FSB’s Task Force on Climate-related Financial Disclosures (TCFD).

A new report titled “Unwrapping the risks of plastic pollution to the insurance industry” was also launched at the Principles for Sustainable Insurance Market Event, which ran alongside the Regional Roundtable. This report shows that plastic pollution risks can affect insurance and investment portfolios in the form of physical, transition, liability and reputational risks. These range from threats to human health to evolving liability claims connected to marine litter and plastic pollution should be closely monitored by insurers in coming years.

A highlight for the event included a high-level dialogue on mobilising finance against slavery and trafficking, which was highlighted in a report released during the United Nations General Assembly in New York in September 2019. The Financial Sector Commission on Modern Slavery and Human Trafficking Chair Fiona Reynolds, who is also the CEO of the Principles for Responsible Investment (PRI) joined James Kofi Annan, a Global Financial Sector Commissioners for Modern Slavery who was a survivor of human trafficking and child slavery, for a discussion on stage.

Other sessions focused on portfolio alignment with the Paris Agreement, climate adaptation, mainstreaming impact in investment, impact analysis in corporate finance, the Taskforce for Climate-Related Financial Disclosure Recommendations, energy efficiency, setting science-based biodiversity targets and the role of finance in reducing deforestation.

UNEP FI would like to thank the Government of Luxembourg, Luxembourg for Finance, Global Landscapes Forum and all event partners, speakers and delegates for making the events such a huge success.

You can view photos from the events here.

For media enquiries please contact Mustafa Chaudhry.

High-Level Recommendations on the Voluntary Application of the EU Taxonomy to Core Banking Products

The European Banking Federation (EBF) and the United Nations Environment Programme Finance Initiative (UNEP FI ) are launching a project to assess the extent to which the EU Taxonomy on Sustainable Activities could be applied to core banking products.

The objective of the project is to:

  1. Provide a high-level feasibility assessment of the EU Taxonomy to selected banking products
  2. Share best practices
  3. Develop use cases where appropriate
  4. Issue recommendations based on the project findings

A Working Group composed of 24 banks, 5 banking associations and 3 observers is working on developing these guidelines. The project is sponsored by BBVA, BNP Paribas, Credit Suisse, Danske Bank, Deutsche Bank, FMO, ING, SEB, Societe Generale, Standard Chartered, UBS and UniCredit.

The Working Group is expecting to issue recommendations around Q3 2020. It may adjust its timeline in line with EC-related Taxonomy developments and processes in 2020.

The Working Group is composed of:

Banks

  • ABN AMRO
  • Barclays
  • BBVA
  • BNP Paribas
  • BPCE
  • CaixaBank
  • Credit Agricole
  • Credit Suisse
  • Danske Bank
  • Deutsche Bank
  • FMO
  • ING
  • Intesa Sanpaolo
  • Jyske Bank
  • KB Financial Group (Korea)
  • OP Financial Group
  • Piraeus Bank
  • SEB
  • Santander
  • Société Générale
  • Standard Chartered
  • Swedbank Group
  • UBS
  • Unicredit

Banking Associations

  • ABI
  • Finance Denmark
  • Finance Norway
  • Finance Latvia
  • Swiss Banking Association

Observers

  • European Commission
  • European Banking Authority
  • EFRAG
  • European Investment Bank / European Investment Fund

Sponsored by:


Contacts:


About the European Banking Federation (EBF)

The EBF is the voice  of the European banking sector, uniting 32 national  banking associations in Europe that together  represent some 3,500 banks – large and small,  wholesale and retail, local and international –  employing about two million people. The EBF  promotes:

  • A thriving European economy underpinned by a stable, secure and inclusive financial ecosystem.
  • A flourishing society where stable and secure financing is available to finance the dreams of citizens, businesses and innovators  everywhere.

About UN Environment Programme Finance Initiative (UNEP FI)

UNEP FI is a partnership  between UNEP and the global financial sector to  mobilize private sector finance for sustainable  development. UNEP FI works with more than 300  members – banks, insurers, and investors – and  over 100 supporting institutions – to help create a  financial sector that serves people and planet  while delivering positive impacts. We aim to  inspire, inform and enable financial institutions to  improve people’s quality of life without  compromising that of future generations. By  leveraging the UN’s role, UNEP FI accelerates  sustainable finance. Find out more about UNEP FI’s banking, investment and climate change work.

Global Roundtable 2020

13-14 October 2020 | Virtual Event

UN Environment Programme Finance Initiative (UNEP FI) is hosting its 16th Global Roundtable virtually on 13–14 October 2020, in collaboration with Responsible Investor. UNEP FI’s biennial Global Roundtable (GRT) is a major global agenda-setting event on sustainable finance. Held under the theme of “Financing a Resilient Future”, the GRT will bring together decision-makers, experts and thought leaders on a virtual event platform, and help shape approaches to integrating environmental, social and governance (ESG) issues and accelerating sustainable banking, insurance and investment.

Register now

Due to the ongoing COVID-19 pandemic, UNEP FI has made the decision to host the GRT2020 virtually. The GRT2020 virtual event platform will allow space for keynotes, high-level dialogues, panels, workshops, networking and much more! More information to be announced soon.

The event in 2020 will convene over 2000 finance professionals and highlight the development of financial products with positive impacts, explore emerging approaches to financing the Sustainable Development Goals, provide invaluable insight into alignment with the Paris Agreement, innovation, emerging guidance and good practice, and identify trends and issues on the horizon at a global level to explore the finance sectors’ responses to science, policy and business developments in areas such as climate change, biodiversity, circularity and ocean health.

UNEP FI’s 15th Global Roundtable was held in Paris from 26–28 November 2018, welcomed more than 1000 delegates and 150 speakers and saw the launches of major initiatives that will help accelerate the financing of the Sustainable Development Goals (SDGs) and the Paris Climate Agenda. View agenda, highlights and speakers from 2018 here.

For sponsorship and partnership opportunities please email grt@unepfi.org

 

Principles for Sustainable Insurance (PSI) Market Event Europe – Luxembourg – Agenda

29 November 2019 | Luxembourg

Principles for Sustainable Insurance (PSI) Market Event Europe

The UN Environment Programme Finance Initiative (UNEP FI) and Global Landscapes Forum (GLF) are joining forces for three days of insight into advances in sustainable finance to address key regulatory and market challenges, the asset management industry’s role in sustainable investment, as well as how capital markets can contribute to a sustainable low-carbon economy.

UNEP FI will hold its 2nd Regional Roundtable for Europe in Luxembourg on 28-29 November 2019, followed by the Global Landscapes Forum (GLF), the world’s largest knowledge-led platform on sustainable land use, on 30 November 2019.

Alongside the Roundtable, UN Environment’s Principles for Sustainable Insurance (PSI) will host a European Market Event on 29 November.

Register now.

10:30-10:45Welcome Remarks
Butch Bacani - Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative
10:45-11:15Session 1: What are the implications of the European Commission’s Action Plan on sustainable finance for the insurance industry
Olav Jones - Deputy Director General, Insurance Europe
Pamela Schuermans - Principal Expert Insurance Policy, EIOPA
Discussion moderator
Butch Bacani - Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative
11:15-11:30Break
11:30-12:20Session 2: After the UN Secretary-General’s Climate Summit: How can we drive greater climate action and ambition?
Opening perspectives
Marc Hengen - CEO, Association of Luxembourg Insurers & Reinsurers
Lasse Wallquist - Senior Sustainability Risk Manager, Swiss Re
Roundtable discussion moderator
Butch Bacani - Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative
12:20-13:10Session 3: TCFD and the insurance industry: Evolving market and supervisory practices
Presentations including Q&A session with the audience
Nicole Röttmer - Partner, PwC Germany
Jason Eis - Executive Director, Vivid Economics
13:10-14:00Lunch
14:00-15:00Session 4: Managing environmental, social and governance (ESG) risks in non-life insurance business
Opening perspectives
John Scott - Group Head of Sustainability Risk, Zurich Insurance Group
Philipp Hasenmüller - Senior Consultant for Corporate Responsibility, Munich Re
Roundtable discussion moderator
Butch Bacani - Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative
15:00-16:00Session 5: Developing the sustainability agenda in life & health insurance and pensions
Opening perspectives
Zelda Bentham - Group Head of Sustainability, Aviva
Angelique Bayot - Head, SCOR Global Life Strategy
Roundtable discussion moderator
Butch Bacani - Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative
16:00-16:20Break
16:20-17:10Session 6: How can the insurance industry help protect natural ecosystems and tackle pollution?
Opening perspectives
Alice Merry - Plastic Pollution Project Manager, UN Environment
Chip Cunliffe - AXA XL and Head of Ocean Risk & Resilience Action Alliance (ORRAA)
Amandine Favier - Head of Sustainable Finance, WWF-Switzerland
Roundtable discussion moderator
Butch Bacani - Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative
17:10-17:15Closing Remarks
Olivia Fabry - Programme Supervisor, UN Environment’s Principles for Sustainable Insurance Initiative
Butch Bacani - Programme Leader, UN Environment’s Principles for Sustainable Insurance Initiative

Year Two Good Growth Partnership Highlights Report

Published October 2019

The Good Growth Partnership convenes a wide range of stakeholders and initiatives throughout soy, beef and palm oil supply chains to reduce deforestation and enable sustainable development. Since its inception in 2017, the Good Growth Partnership has brought together a growing coalition of committed changemakers to achieve greater results throughout its focal commodity supply chains and landscapes. This alliance has enabled efficiency, avoided overlap and allowed each partner to work to their strengths while simultaneously connecting the dots and layers that influence sustainability throughout the entire supply chain. Instead of treating production, demand and investment interventions as separate tracks, the Good Growth Partnership looks at where the layers of the supply chain integrate and overlap to enhance financial incentives and demand for sustainably produced agricultural commodities.

Alongside IFC,UN Environment Programme Finance Initiative is contributing to the transactions project, working closely with banks and helping to make sustainable financing more accessible for businesses and farmers who require additional capital to invest in more environmentally sound practices.

The Year Two Highlights report details the progress made to date and is a testament to how each partner organization has come together as an integrated force for change. Download the report here.

Find more information on the Good Growth Partnership website here.

Watch a video from the Good Growth Partnership Launch in September 2017 here.