Climate Change The New Economy
Climate Change, Environment
The Bank of England asked banks and insurers participating in the Climate Biennial Exploratory Scenario (CBES) to use three scenarios to look at how climate-related risks could affect them. Two scenarios featured policies to limit global temperature rises (Early Action scenario and Late Action scenario), the third featured unchecked global
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A survey among 78 financial institutions in Latin America and the Caribbean holding 54% of the total assets managed by the banking sector in the region, revealed that 38% of banks incorporate guidelines on climate change in their strategy and 24% have a policy on climate risk evaluation and disclosure. The
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As it grapples with the unprecedented health emergency triggered by the Covid-19 pandemic, the world is experiencing its worst economic shock since the 1930s. This is having a severe impact on employment and investment across all parts of the economy, including energy. Governments have taken the lead in providing urgent financial
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CEOs from more than 50 banking and insurance sector companies – among them household names such as BNP Paribas, AXA, Allianz, and Santander – have signed up to the European parliament's “green recovery alliance”. Launched last month, the alliance is the initiative of Pascal Canfin, a French centrist MEP who chairs
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Climate and Environment Ministers from the Nordic Countries, Chair of Institutional Investors Group on Climate Change, and CEOs from Nordic pension funds, including Storebrand, Varna and AP4, spoke today at a Roundtable at the Nordic Council of Ministers Meeting. The discussion focused on how to collaboratively link economic recovery with green investments, and showcase
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The Task Force on Climate-related Financial Disclosures (TCFD) has announced that it has officially reached more than 1,000 supporters globally for its recommendations, signifying a major shift among market participants in acknowledging that climate change presents a financial risk. Together, the private sector organizations that are supporters have a market
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The Task Force on Climate-related Financial Disclosures (TCFD) has announced that it has officially reached more than 1,000 supporters globally for its recommendations, signifying a major shift among market participants in acknowledging that climate change presents a financial risk. Together, the private sector organizations that are supporters have a market
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The USD 1 billion sustainable agriculture and forestry initiative “AGRI3” has been strengthened by two new cornerstone investors. At the World Economic Forum in Davos on January 23, the Dutch Ministry of Foreign Affairs announced that it will become an anchor public investor in the AGRI3 Fund by contributing USD
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The Church of England’s three National Investing Bodies (NIBS) representing over £12 billion in assets under management, have joined the United Nations-convened Net-Zero Asset Owner Alliance. Now 18-strong, the new membership has collective assets under management of over US$4.3 trillion. The Alliance has finalized its objectives for 2020. It will focus
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The European Union is committed to becoming the first climate-neutral bloc in the world by 2050. This requires significant investment from both the EU and the national public sector, as well as the private sector. The European Green Deal's Investment Plan - the Sustainable Europe Investment Plan - presented today
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