CEE Bankwatch Network’s Post

Canada is charting a new course in sustainable finance The Canadian federal government has announced progress on two key initiatives: the development of voluntary "Made-in-Canada Sustainable Investment Guidelines" (the Canadian Taxonomy) and the implementation of mandatory climate-related financial disclosures for certain federally incorporated entities. These steps aim to establish a credible classification system for green and transition investments and align Canada with global efforts on climate disclosure. Businesses should prepare for the potential impact of these initiatives as they move forward. https://bit.ly/40XtvsD Sharon (Gursharan) K. Singh, Radha Curpen, Jason Haley, Sandra, Ralph Cuervo-Lorens #Sustainability #climatedisclosure #finance #corporategovernance

Are you interested in green finance? Or wanting to invest? More and more people want their savings going toward helping the climate. And the Government wants to make that easier. Driving investment in green projects and giving businesses and investors greater clarity, transparency and certainty to invest, are all important parts of the transition. Two big updates on that: 1️⃣We issued our first green treasury bond at $7 billion. Investors want to back green projects and projects that can deliver a return. With a bond from the Australian Government, investors can have both, with bonds funding projects like green hydrogen hubs, community batteries and programs to conserve biodiversity. 2️⃣We are defining what is “green” with an Australian Sustainable Finance Taxonomy People who want to put their savings toward the climate deserve to know that their investment will actually deliver. Confidence that investments are green also means that more capital will go toward solving climate change. Currently there are over 40 taxonomies being developed or in use around the world. This can be confusing for investors and also don’t necessarily reflect Australia’s needs or context. That’s why we’re working with the Australian Sustainable Finance Institute to set up a sustainable finance taxonomy. We’re creating a common, consistent framework backed by scientists and experts to accurately assess investments in Australia and how they will support Australia’s decarbonisation ambitions. Consultation is currently underway: https://lnkd.in/ghsFYVAB Both these announcements are about making climate financing clearer and more transparent. We know that we cannot decarbonise our economy without private investment. We want to work with all willing industries, businesses and partners to create investment certainty, and seize the opportunities of a decarbonised economy. #news #sustianablefinance #climatefinance #greenbonds #greenprojects #greeninvesting

🌿 Sustainable Finance & INFF: A Path to PNG's Resilient Future 🌏 Some key points taken from taking the Introduction to Sustainable Finance for Climate and Energy Course: Papua New Guinea is at the forefront of climate action and sustainable development, and Sustainable Finance is the key to unlocking our potential. By integrating environmental, social, and governance (ESG) principles, we can build a greener and more inclusive economy. 🔑 Why does it matter? Through frameworks like the Integrated National Financing Framework (INFF), PNG can: ✅ Mobilize resources for climate resilience projects. ✅ Attract green investments for renewable energy & sustainable industries. ✅ Ensure transparent and efficient use of funds to achieve national goals. ✅ Empower communities with green jobs and sustainable livelihoods. 🌍 Together, we can transition to a low-carbon future while safeguarding our natural resources for generations to come. 💬 For those interested in taking the free online Certified course on 'Introduction to Sustainable Finance for Climate and Energy can access through this link: https://lnkd.in/g7_hVmAa #SustainableFinance #GreenFinance #INFF #ClimateAction #PapuaNewGuinea #SDGs #GreenEconomy

A very significant development that large private CBCA incorporated entities should look at carefully for coming climate related financial disclosure requirements and a big step forward on the made in Canada sustainable finance taxonomy.

🚨 IN CASE YOU MISSED IT 🚨 June 4th, 2024: The Australian Government Issued its First Green Bond Worth $7 Billion 💰 In a Major Step for Sustainable Finance: Minister Chris Bowen and Tanya Plibersek announced the issuance of Australia's inaugural green bond in an unprecedented move that underscores the nation's commitment to sustainable finance. This landmark event has attracted global attention, as evidenced by over $22 billion in bids from investors across Asia, Europe, and North America. 🌍 Unlocking Global and Domestic Green Capital: The funds will be allocated towards projects aimed at transforming Australia into a global economic powerhouse while creating new jobs nationwide. Money raised will support initiatives that are pivotal to decarbonizing the economy and advancing Australia's role in the global energy landscape. 📈 Over-Subscription and International Interest: With over-subscription and robust international demand, the bond issue showcases Australia's attractiveness as a destination for green capital investments. This strong response is crucial to the Albanese Labor Government's plan to foster more private sector investment in achieving net-zero emissions. 🌱 Funding Nature Positive Projects: The proceeds from this bond will be allocated to projects that not only mitigate climate change but also adapt and conserve Australia's environment, including green hydrogen hubs, community batteries, clean transport solutions, biodiversity conservation, restoration, and adaptation programs. This ensures environmental benefits alongside economic growth. 🤝 Aligning with Global Goals: By issuing the green bond, the Australian Government is demonstrating its commitment to achieving net-zero emissions by 2050 and aligning with the United Nations Sustainable Development Goals (SDGs). This reflects a broader strategy to foster a sustainable future for all. 🌐 Access Further Information: Interested parties can delve deeper into this pioneering initiative on the AOFM’s website, where comprehensive details about the green bond program are provided. This groundbreaking move by Australia marks a significant step towards a more environmentally responsible and sustainable financial sector, inviting global investors to partake in the transformation of the country's economy while contributing to global environmental goals. https://lnkd.in/gJPBugVa #AustraliaGreenBond #SustainableFinance #NetZero2050 #ClimateChangeMitigation #BiodiversityConservation #CleanEnergyProjects #GlobalEconomicLeadership #InvestmentInnovation #UNSDGs #FutureMadeInAustralia #EcoFriendlyFinances #GreenCapitalDestination #AlbaneseLaborGovernment #RenewableEnergyProduction #CommunityWellbeing #NaturePositiveApproach

#Canada will set mandatory climate-related disclosures for large federally incorporated private companies, as part of two sustainable finance initiatives aimed at achieving net zero by 2050. Deputy prime minister and minister of finance Chrystia Freeland confirmed the government will amend the Canada Business Corporations Act to mandate this disclosure, with specific regulations under development to define their scope. #sustainability #environemnt #climatedisclosures #parisagreement #netzero

📢 Canada Introduces Mandatory Climate Disclosure Requirements for Large Companies 🌍 The Canadian government is taking a bold step towards sustainability by mandating climate-related financial disclosures for large companies. This initiative is set to drive transparency and promote investment in green projects. 🌱💼 🔍 Key Highlights: Investor Confidence: Enhanced disclosures attract long-term investments by showcasing a company's climate risks and opportunities. Sustainable Economic Growth: Encourages private capital flow into green projects, boosting both economy and environment. Net-Zero Goals: Helps track progress towards Canada's 2050 net-zero emissions target. 💼 What Businesses Need to Know: Compliance: Large federally incorporated companies need to prepare for new disclosure requirements. Voluntary Reporting: SMEs are currently exempt but encouraged to participate voluntarily. Read more in the comments below!📖✨ #Sustaira #ClimateAction #Sustainability #ESG #Investment #Canada #CorporateResponsibility #NetZero

I recently attended two presentations about green bonds in the Caribbean - one by the International Finance Corporation (IFC) and the other by Caribbean Alternative Investmwnt Association (CARAIA). Both underscored the transformative potential of these instruments in sustainable finance, especially for small, climate-vulnerable economies like those in the Caribbean. A green bond is a type of fixed-income instrument issued to finance projects with clear environmental benefits, from renewable energy to clean water initiatives. What sets green bonds apart from traditional bonds is the requirement that the funds be used exclusively for environmentally focused projects, with ongoing reporting to verify the impact. Caribbean countries, while not major contributors to global greenhouse gas emissions, are disproportionately affected by the impacts of climate change, including rising sea levels, stronger hurricanes, and other extreme weather events. For small, emerging economies in the Caribbean, green bonds present a significant opportunity to fund the critical infrastructure needed to build climate resilience. From a legal perspective, drafting transaction documents for green bonds is more complex than for traditional bonds. Issuers must ensure that bond terms include specific environmental objectives, clear reporting obligations, and often third-party verification to demonstrate that the funds are being used as intended. This means more detailed disclosure obligations, enhanced due diligence, and sustainability-linked covenants—important features to instill confidence in investors, but also additional burdens that smaller economies may need to prepare for. The introduction of green bonds in the Caribbean could help unlock international capital by attracting investors focused on Environmental, Social, and Governance (ESG) principles. Development banks, pension funds, and impact investors, with a focus on sustainability, would be potential investors. However, there are challenges. Despite the opportunities, Caribbean economies may struggle with the relatively high costs of issuing green bonds, regulatory hurdles, and limited market liquidity. Building investor confidence is critical, and strong regulatory frameworks are needed to ensure transparency and prevent greenwashing. While these economies do not contribute significantly to global warming, the urgent need for climate adaptation makes the development of sustainable finance mechanisms like green bonds a necessity, not a luxury. The time to act is now. Caribbean countries must align policies, educate stakeholders, and build a strong legal and regulatory foundation to fully realize the potential of green bonds. These instruments hold the key to unlocking sustainable, climate-resilient growth for the region. #GreenBonds #SustainableFinance #CaribbeanEconomies #IFC #ClimateAction #ESG #LegalInnovation

🛡 ✊ Despite having environmental and social safeguards in place, projects financed by public development banks all too often violate human rights. 🗺 Earlier this year, we mapped the human rights policies of four leading public development banks: the EBRD, European Investment Bank (EIB), IFC - International Finance Corporation and Agence Française de Développement. Our conclusion? Although their current social and environmental sustainability frameworks provide a solid basis for exercising human rights due diligence, our analysis reveals significant shortcomings in transparency and public participation at every stage of the project life cycle, from assessment to implementation. Take a look at our policy recommendations and good practices for inspiration. We hope the EBRD makes good use of them as it revises its good governance policies! ℹ Read the full report here: https://lnkd.in/erC8ZVJk  

📣 Big news for #sustainableinvesting and #climatereporting in Canada! Connect with us for a free consultation on what this means for your business. https://lnkd.in/gpQmjrjp