ESG Today’s Post

“The argument about aligning the bank’s climate strategy with countries’ NDCs is a distraction. How can this be measured by investment portfolio or by banking activity? By making this statement, Standard Bank is vaguely aligning itself with the level of ambition of the country in which it is operating, rather than with the requirements of climate science." Just Share senior climate risk analyst Emma Schuster in the Daily Maverick, following Standard Bank Group's AGM on Monday. #ClimateScience #ClimateStrategy #NDCs #FinancialSector #StandardBank #InvestmentPortfolio

#ClimateFinanceThursday | How are private finance institutions progressing on their Paris Agreement and Net Zero goals? 📊 The Net Zero Finance Tracker is the first effort to track comprehensive, material progress by major financial institutions globally: from their commitments (Targets), through action within the institution (Implementation), and to impacts on the wider economy (Impact). 🔎 Each dimension is comprised of a set of indicators that, together, create the measured response for individual entities and at the aggregate level. Discover CPI's compilation of climate finance data: https://lnkd.in/d6CvvB-5 #climatefinance #financetracking #climateaction #climatechange #sustainableinvestment #parisagreement #GFANZ

Some reflections on #COP28. Inclusive green finance (IGF) is working. Vulnerable countries are managing to build resilience and mitigate climate impacts by expanding access to basic financial services. Central banks and financial regulators are increasingly important players in climate policy. Inclusive #GreenFinance has become a key element of their mandate. The devastation caused by #ClimateChange is real. But the resilience and commitment on evidence at COP28 gives us reasons to be hopeful. ➡ Read more in my blog: https://bit.ly/48nyTFG #InclusiveGreenFinance #FinancialInclusion #LeaveNoOneBehind #SustainableFinance #SDG13

At Devex's Climate + Finance event, we discussed how banks can accelerate the shift to a carbon-neutral future with European Bank for Reconstruction and Development (EBRD) President Odile Renaud-Basso. #EBRD #finance #climate

I think we’re at a crucial point where every company needs to step up their net zero journey, don't' we?  I want to share some simplified insights from the United Nations Environment Programme Finance Initiative (UNEP FI) that break down the Climate Mitigation Journey for banks. Their Climate Mitigation Journey (CMJ) is all about helping banks build the right capabilities to meet the Paris Agreement goals and tackle climate change. The CMJ has been designed to be flexible and adapt to individual approaches, evolving standards and methodologies that reflect the ever-changing landscape in which banks operate. This framework outlines three essential capability blocks that banks need to develop on their journey to net zero: Core Climate Capabilities, Commitment & Targets Capabilities, and Implementation Capabilities.

Very interesting new resource for banks that want to make progress in their climate journey! It aims to introduce a universally accepted end-to-end approach, enabling shared language between banks and other ecosystem actors. You will find three business capability blocks for banks: 1) Core Climate Capabilities 2) Commitment & Targets Capabilities   3) Implementation Capabilities  And a mapping to relevant resources, applicable standards, methodologies, and key stakeholders. Orestis Velentzas Puleng Ndjwili-Potele Dr. Johanna Dichtl Yuki Yasui Carlota Gómez Tapia Alan Gómez Youssef Boumaiz Fernando Salazar de Lara Mabel González Pacheco Paula Peirão Layalee Ramahi Gaston Kwa Fosah Daniel Bouzas Luis Flora Petrucci Nirnita Talukdar United Nations Environment Programme Finance Initiative (UNEP FI) https://lnkd.in/efBr6MDx

The World Bank Group delivered a record $42.6 billion in #climatefinance in fiscal year 2024—from July 1, 2023, to June 30, 2024, according to its ‘Climate Finance Fiscal Year 2024 Snapshot’. This is a 10% increase in climate finance compared to the previous year. #COP28 #greenenergy

I just completed Oliver Wyman's Financial Services: Climate Change on Forage. In the simulation I: -Standard Executive Summary Study: Analyzed The Standard Executive Summary and classified financed emissions. -Target Metrics Exploration: Explored target metrics such as Absolute Financed Emissions, PEI, and FELI, and their calculation methods. -Net-Zero Scenario Recommendation: Researched external net-zero scenarios and recommended one to Bank ABC for target-setting, considering cost, policy strictness, and transition risks. -2030 Value Calculation and Strategic Recommendations: Calculated forecasted 2030 values and provided strategic recommendations to Bank ABC for achieving their goals. #ClimateChange #Sustainability #FinancialServices #NetZero #FinancedEmissions #ClimateFinance #SustainableBanking #ClimateAction #StrategicPlanning #TransitionRisk #Decarbonization #OliverWyman #Forage #SustainableFinance #2030Goals #GreenFinance

Today, I attended the webinar organized by Eurodad - the European Network on Debt and Development, where the limitations and risks of sovereign ESG bonds were critically introduced as a means to bridge the climate and SDG financing gap. The discussion offered highly valuable insights. #climatechange #sdgs #sustainabledevelopment #greeneconomy #climate #climatejustice #esgbonds

-Citigroup's confidential analysis warns of significant loan losses if global climate change efforts intensify. -Estimated losses of $10.3 billion over a decade under accelerated emissions reduction initiatives, surpassing projections under slower approaches. -Analysis underscores potential financial challenges for Citigroup in sectors like oil, gas, and real estate amid climate action push. To know more, read the full article on #theenterprise #Citigroup #ClimateAction #LoanLosses #ClimateChange #FinancialAnalysis #globalbusiness #theenterprisenews #followformore #global #finance