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$1 billion pledged by UN Green Climate Fund

Ahead of the UN climate talks in December, the Green Climate Fund has pledged $1 billion for 19 new projects and programmes in developing countries. The approved proposals include climate resilience projects in Indian coastal communities, renewable energy in Tonga and finance-focused programmes in Africa...

EU climate initiative focuses on finance

EIT Climate-KIC – the EU’s largest public-private partnership for climate innovation – is focusing on finance at their upcoming Climate Innovation Summit: Mission Finance in Dublin on 6-8 November. Speaking to Environmental Finance, Climate-KIC’s CEO Kirsten Dunlop highlighted the need ‘to rewire the financial system...

Pension funds warned of possible legal action on climate

BusinessGreen reports that environmental legal charity ClientEarth has written to 14 large pension funds in the UK, outlining how they could face legal action if they do not do more to respond to the risks posed by climate change. The letter outlines how they are...

UNEP releases new climate methodology for banks

Sustainable Brands reports that the UN Environment Finance Initiative (UNEP FI), in partnership with climate risk advisory firm Acclimatise, has published a new report, Navigating a new climate, containing methodologies to support the banking industry to understand and assess climate risks and opportunities. The methodologies...

Banks join fight against climate change

Bloomberg reports that several of Europe’s biggest banks have announced new sustainable finance initiatives, representing the growing willingness of financial institutions to get involved in climate action. Examples mentioned include a sustainable investing strategy at UBS, a colour-coded risk ranking related to the environmental credentials...

Government announces launch of Green Finance Institute

In his annual Mansion House speech last Thursday 21 June, the Chancellor Philip Hammond announced that the government will establish a new Green Finance Institute, co-funded with the City of London Corporation. The Institute is tasked with developing the UK’s green finance market but has...

Investing in a just transition

A new paper from the Grantham Research Institute argues that while investors are increasingly taking action on climate change issues, few are integrating social concerns into their strategies - tackling not only the challenge of ‘stranded assets’, but also the risk of ‘stranded workers’ and...

Solar boom in China powers growth in clean energy investment

World clean energy investment totalled $333.5 billion last year, up 3% from 2016 and the second highest annual figure ever. Solar investment globally amounted to $160.8 billion in 2017, up 18% on the previous year, with just over half of the world total ($86.5 billion) spent in...

The Bank of England Responds to Climate Change

In its Quarterly Bulletin 2017 Q2 published June 16, The Bank of England announced they will initiate a review of climate-related risks in the UK banking sector. The work will be carried out in a similar way to the assessment of insurance companies it launched...

FINANCE MATTERS AT THE GIIN INVESTOR FORUM 2016

Finance Matters attended the GIIN Investor Forum in Amsterdam this week. The forum brought together over 800 participants from 45 countries and 6 continents from various areas across impact investment: asset managers and owners, social enterprises, civil society and academia - to discuss the most...

$1TRN INVESTOR COALITION HIGHLIGHTS RISKS OF INDUSTRIAL ANIMAL PRODUCTION

A group of 40 institutional investors which includes Swedish state pension funds, Aviva Investors, Nordea, Boston Common and Coller Capital has launched an engagement with multinational food companies to highlight the material risks posed by global industrial animal production. The investors are urging companies such...

TOP FUNDS ACCUSED OF GREEN-WASHING

Climate Change News has an article this week on the failure of some of the world's leading funds to live up to their responsible investment rhetoric. The Asset Owners Disclosure Project (AODP) has revealed that some of ExxonMobil's biggest investors are blocking action by the...

CLIMATE CHANGE AND THE LAW

Bloomberg has an article on the decision by a federal appeals court in Chicago this week to uphold the regulatory practice that enables the US government to account for projected costs of climate change.  According to Bloomberg, the decision comes less than a week after...

HOW BOLD CORPORATE ACTION CAN KEEP TEMPERATURE RISE BELOW 2°C

A new report launched today by the We Mean Business Coalition, along with CDP, shows how significant the business contribution could be to ensure that the goals set out in the Paris Agreement this past December are met. The report, called The Business End of...

NEW TRUSTEE FOR CDP URGES INVESTORS TO TAKE CLIMATE ACTION

This Friday (22nd April - Earth Day) will see the signing of the Paris climate accord. It will be the first time all countries in the world have agreed to cut their emissions with the aim of limiting global warming to below 2 degrees Celsius. In...

CLIMATE CHANGE AND SME FINANCE AT THE IDB

Devex recently published an article on the annual meeting of the Inter-American Development Bank in the Bahamas, where climate change and SME financing were at the top of the agenda. Recognizing the severe threat that Climate Changes poses to the region, the IDB has agreed...

Climate fears drive car maker’s woes

A recent report published by CDP (previously Carbon Disclosure Project) has found that global car makers are subject to increasing scrutiny about their emissions following the VW scandal last year. The report, which looks at the top 15 car makers globally, contrasts the woes of seven automakers,...

MS launches environmental investment tool

Morgan Stanley has launched a tool to assist individual and institutional investors to integrate environmental considerations into their investment strategies. Long the domain of niche ESG specific funds, the launch of the tool follows a mounting trend of mainstream banks offering impact-oriented products. The tool is...

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Q&A with Sam Gill: An index to shift funds out of carbon

Finance Matters talked to Sam Gill, Chief Executive Officer at ET Index, about his vision to change the way money is invested in companies. ET index provides investors with corporate carbon emissions data and creates low carbon indexes. How will the index encourage companies’ behaviour change...

Climate Change at Davos

Global leaders convened at Davos last week at the World Economic Forum. Whilst this came in quick succession of the COP21 late in 2015 it seemed that concern about climate change took a backseat to the current turmoil in the financial markets. Climate Home, an online news outlet...

COP21: What has been achieved in Paris climate talks so far?

COP21 is currently taking place in Paris with global leaders convening to talk all things climate. The first draft of a global agreement on climate change has been negotiated amidst cautious optimism for the final week of talks ahead, the Guardian newspaper reports.  Key discussion points...

Finance Matters November Happy Hour with Sam Gill, Current CEO at ET Index

  Join us with Sam Gill, Current CEO at ET Index on "Exploring a concrete mechanism to harness the power of the investment system to tackle climate change".    When: Tuesday 24th November, 7:30pm at Cognolink offices, located in The Steward Building on 12 Steward Street (Liverpool Street station).   This...

How are global banks managing climate change?

A new report published by sustainable investment manager, Boston Common, finds that the actions of many global banks with respect to managing climate change to be lacking. The report, which covers the largest 61 global banks, was developed following direct engagement with banks on their climate management...

Road to Paris COP21 Series – Part 3: Carbon Risk

  Part 3: Carbon Risk If ‘climate risk’ is the probability of climate catastrophe occurring then ‘carbon risk’ is the probability that investments in high carbon companies and assets will lose value as we transition away from fossil fuels and move towards an increasingly carbon constrained world. The most...

Road to Paris COP21 Series – Part 2: Climate Risk

  Part 2: Climate Risk I was at an event recently where the ‘point person for carbon’ from a well-known bank told me 10 degrees of warming was not such a big deal because “there are other places in the world where it is already 10 degrees...

Sustainable Development Summit and Climate Week NYC

New York has had a busy week. The last few days saw the city play host to the annual UN general assembly and Sustainable Development Summit as well as Climate Week NYC. At the UN the Sustainable Development Goals (SDGs) were formally agreed by global leaders. The 17 goals lay out...

Work with us to put global economies on path of zero net emissions by 2050

  This is an open letter imploring the leaders of our organisations to work with us to turn back the tide of climate change by deploying the vast human and financial capital at our disposal in support of the long-term goal of net-zero greenhouse-gas emissions by 2050. Join our...

Generation Foundation Report: Allocating Capital for Long Term Returns

Generation Foundation, the advocacy initiative of Generation Investment Management, have published a report entitled 'Allocating Capital for Long Term Returns', to follow on from their 2012 Sustainable Capitalism report. This particular report addressees what Generation Foundation consider to be an 'inertia' in existing capital allocation models that they...

The Guardian & fossil fuel divestment

Many of our readers are no doubt already aware of The Guardian's 'Keep It In the Ground' campaign, encouraging the divestment of fossil fuels and prompting debate around the topic through their extensive coverage. This week, however, saw the paper publish an alternative view with...

Recap: Skoll World Forum

The Skoll World Forum on Social Entrepreneurship, a conference bringing together the leading social entrepreneurs and partner organisations, took place in Oxford last week. For those who missed out on the event itself, the conference's 'highlights' page gives a great recap of the best bits of the...

Climate change, COP and SDGs

Yes, that's a heck of a lot of acronyms for one short title, but better get used to them as this year sees two key, if  acronym filled, events taking place. For those not already in the know: The Conference of Parties 21 (COP21), the UN led conference...

The Guardian’s ‘Keep it in the ground campaign’

The Guardian's 'Keep it in the ground campaign' continues to garner attention. The campaign entails extensive coverage of fossil fuels and their impact on climate change from multiple perspectives, including ex-scientific advisors to the European commission. The crux of the campaign, a petition calling for the Gates Foundation and Wellcome Trust...

Finance Matters Happy Hour: Filippo Addarii, Young Foundation

Join us for our July 2014 happy hour with Filippo Addarii, Head of EuropeLab and Director of International Strategy at the Young Foundation. Filippo has 12 years’ experience in designing, fundraising for and managing European multi-stakeholder projects for socio-economic development through innovative approaches and civic engagement...

Finance Matters Happy Hour: Angela Homsi, Director at Generation Investment Management

[vc_row][vc_column][vc_column_text]Join us for our March 2014 happy hour with Angela Homsi, Director at Generation Investment Management. At the crossroads of traditional and development finance, conflict resolution, community bridging, impact and sustainable investments: How “mission-driven” finance can present a variety of solutions to global challenges – with...