15 March 2022

TNFD releases first beta version of framework for market consultation

The Taskforce on Nature-Related Financial Disclosures (TNFD) today released its beta framework – the first integrated approach to incorporating nature-related risk and opportunity analysis into the heart of corporate and financial decision making. The release marks the start of an 18-month process of consultation and development together with a broad range of market players and…

7 March 2022

Insurers begin long countdown to net zero (Environmental Finance)

The insurance industry took its biggest step towards decarbonisation with launch of the Net-Zero Insurance Alliance (NZIA) in July 2021. Some of the world’s biggest insurers have now joined. The NZIA arguably has the potential to be more influential than its investor counterparts in encouraging change among high-emitting companies. Without insurance, companies cannot function.

3 March 2022

NZBA responds to recent research on fossil fuels, coal

Recent research has outlined perceived inconsistencies between the requirements of the Alliance commitment and the activities of its members. The NZBA wishes to reflect the highest level of ambition in its practices even as it balances that ambition against the pragmatic concerns of our current global economy, and so would like to provide more detail on how it is approaching these issues.

3 March 2022

What conclusions should financial institutions take from the latest IPCC report?

This week the Intergovernmental Panel on Climate Change (IPCC) launched the second part of its 6th Assessment Report, drawing on seven years of research from peer-reviewed scientists. The report provides an alarming summary of the increasingly devastating impacts of climate change on societies and economies, their vulnerabilities and how we may adapt to inevitable climate…

3 March 2022

Diving deep: new guidance on finance, ocean pollution, plastics and coastal resilience

New guidance launched today by UNEP FI provides banks, insurers, and investors with a science-based, actionable toolkit to align their decision-making with a healthy ocean and accelerate the sustainable transformation of critical marine sectors. Launched at The Economist World Ocean Summit, the guidance focuses on the problem of solid waste pollution—including plastics—and coastal infrastructure projects.…

28 February 2022

Testing the TNFD: Learnings from soy supply chains

A new report from UNEP FI and Global Canopy identifies key challenges that corporates and financial institutions face in assessing, managing and reporting on their nature-related risks. The report’s recommendations are intended to inform the forthcoming global framework for nature-related risk management and disclosures currently being developed by the Taskforce on Nature-related Financial Disclosures (TNFD).…

17 February 2022

UNEP FI responds to Basel Committee on Banking Supervision consultation on its principles for management and supervision of climate-related financial risks

At UNEP Finance Initiative, we believe that the financial sector has a central role to play in managing climate risk and ensuring an orderly transition to a sustainable future, and with our members, we have conducted extensive work on climate-related financial risks and disclosures through our sustainable finance frameworks, net-zero alliances, and TCFD pilot programmes.…

15 February 2022

UNEP FI and EBF outline practical approaches to applying EU Taxonomy to bank lending

UNEP FI and the European Banking Federation have launched a report, “Practical approaches to applying the EU Taxonomy to bank lending”, that explores practical approaches for banks who wish to use the EU Taxonomy. This initiative, supported by EY, was developed based on discussions with 24 banks*, 12 banking associations and six observing organisations, and…

14 February 2022

One year on from commitments on adaptation: lack of risk data and standards delaying progress

In January 2021, UNEP FI and the Global Commission on Adaptation (GCA) came together with ten financial institutions from across banking and investment to commit to disclosing their risks from the physical impacts of climate change. UNEP FI’s Paul Smith reviews the progress made by the group, explains the importance of this commitment, and the issues facing financial institutions trying to accurately disclose their physical risk.

25 January 2022

New protocol binds Net-Zero Asset Owner Alliance to halve portfolio emissions by 2030

The UN-Convened Net-Zero Asset Owner Alliance releases the second edition of its Target Setting Protocol, which guides its 69 asset owner members in setting further ambitious climate targets that align with the very latest IPCC pathways to keep global warming below 1.5°C. ­The growth in scope of the Protocol and its alignment is bolstered for…

19 January 2022

Net-Zero Banking Alliance passes the 100-member mark

In January 2022, the Net-Zero Banking Alliance achieved a critical milestone as it welcomed the 100th signatory to its net-zero commitment. The NZBA now consists of over 100 members, representing 40 countries and over 43% of global banking assets.

18 January 2022

UNEP in Capital Monitor: Banks sharpen focus on financial education

With reporting on climate goals well under way, lenders are starting to develop targets for the social pillar of their ESG strategies. Financial inclusion and, increasingly, financial health are focus areas. So far, 28 banks have signed up to a new UN Environment Programme Finance Initiative to promote universal financial inclusion and health. Data collection is a key challenge in this area, and something banks such as ING are working on. With fintech firms and challenger banks making inroads in the sector, established lenders must innovate to stay relevant.

12 January 2022

Climate stress testing is here: 4 ways your firm can prepare

This original article was published on Forbes and can be found here By David Carlin, TCFD Programme Lead, UNEP FI  Worldwide energy price shocks, crop and water shortages, migration from low-lying areas, and increasing trade tensions. These are just some of the climate-related challenges societies will confront in coming years. Financial actors are increasingly looking…

12 January 2022

Investor Agenda highlights best practices from leading global investors

  To generate worldwide momentum that will lead to more institutional investors implementing bold climate action plans, the Investor Agenda published today a set of case studies highlighting the leading best practices for Investor Climate Action Plans (ICAPs). The ten investors featured in the case studies are from 5 continents and include Allianz (Germany), Aware…

23 December 2021

Awareness-raising and training activities on Sustainable Finance

Este año, en el Departamento de Capacitación de UNEP FI organizamos 16 Cursos Virtuales de tres semanas de duración y 15 eventos de sensibilización y formación sobre Finanzas Sostenibles. Formamos a casi 5.000 personas de más de 45 países en 2021, principalmente del sector financiero, y también de diversos ámbitos incluidos reguladores y supervisores financieros, empresas, el mundo académico y ONG, entre otros.

22 December 2021

The Net-Zero Asset Owner Alliance new year countdown: a review of 2021 and a vision for 2022

The UN-convened Net-Zero Asset Owner Alliance was launched at the UN Secretary-General’s Climate Action Summit in 2019 and only celebrated its second anniversary in September 2021. However, faced with the gargantuan task of decarbonizing their portfolios and the real economy by 2050, Alliance members doubled in 2021 and quickly became leaders in net-zero finance. In…

20 December 2021

UNEP FI Regional Roundtable for Europe 2021: Highlights

The UNEP FI Regional Roundtable for Europe was held virtually on 10 and 11 November 2021 alongside COP26, and welcomed 600+ attendees and 30+ speakers to help define the role of banking, insurance and investment in shaping ambitious responsible and sustainable strategies to proactively address the challenges and opportunities of a green recovery whilst transitioning…