Resonance’s Post

❗ The destruction of the world’s #forests fuels both the global #climateemergency and #biodiversityloss , and comes at a devastating cost for #communities , who defend and depend on them. 🔎 Forests & Finance data, and Profundo reports were used in the development of this literature review published by Global Witness that shows how the 20 biggest #banks in the EU have provided billions to companies linked to #deforestation since 2016. 🤝 Profundo fully supports Global Witness' contribution to debates in #eu institutions on the responsibility of #financialinstitutions to mitigate the ESG #risks of forest-risk financing. Read the full review here: https://lnkd.in/ewXPJPrJ #eu #banking #finance #climate #esg #deforestation

In its second edition of the State and Trends of International Carbon Markets report, the World Bank Group highlighted that 2023 witnessed a significant market value adjustment of the voluntary carbon credit market, a drop that was primarily attributed to broadly felt environmental integrity concerns of carbon credit issuances. Whilst there are several other challenges for the voluntary carbon market, what was also affirmed is that stakeholders are undertaking steps to restore trust and transparency, with initiatives showing promise. The 2024 report also stated that: 🌎 Well-designed, high integrity carbon markets can (and do) play a pivotal role in financing climate action in developing countries; 🌎 For creditability and trust, carbon markets activity needs to be governed by a clear and robust institutional framework; 🌎 Clearly defining the legal nature of carbon credits is essential for financiers; 🌎 An indicator of progress in the market is the increased sophistication of buyers, their direct involvement in project due diligence and their preference for high-quality investments; 🌎 Specifically, such buyers are willing to pay large premiums for credits with perceived higher quality and development impact; 🌎 84% of listed companies are not on track to meet their net-zero goals; 🌎 Countries must aim to develop policy frameworks that enable the broader use of carbon credits and address policy elements that support such usage; and 🌎 Various insurance providers are emerging to address different high-severity, low-frequency risks. The full paper can be found here: https://lnkd.in/erxswrps Green Bond Corporation Group (including Green Bond Corporation, Carbon Capital Corporation, éthica capital and CarbonPlanet) works across both the compliance and voluntary carbon credit markets around the world alongside stakeholders including registries, exchanges, insurers and independent certifiers. To enquire if GBC Group is able to partner with you and your project be it transition, sustainable, green or blue in nature, please do not hesitate to reach out to the team at https://lnkd.in/ghDgpqJC #WorldBank #carboncredits #compliance #voluntary #climatechange #greeninfrastructure #climatefinance #sustainablefinance #structuredfinance #greenbonds #sustainabilitybonds #sustainabledevelopment #sustainableenergy #sdg #sdgs2030 #sustainabledevelopmentgoals #unitednations #decarbonisation #netzerocarbon #cleanenergyfuture #infrastructurefinance #carbonneutral #esg #infrastructure #GreenBondCorporation #ethicacapital #esginvesting #bonds #BeTheChange

𝐉𝐮𝐬𝐭 𝐢𝐧 𝐓𝐢𝐦𝐞 "𝐄𝐁𝐀 𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐆𝐫𝐞𝐞𝐧𝐰𝐚𝐬𝐡𝐢𝐧𝐠 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐚𝐧𝐝 𝐒𝐮𝐩𝐞𝐫𝐯𝐢𝐬𝐢𝐨𝐧" Climate change and the need to transition to a more #sustainableeconomy have become one of the most pressing global issues and a top priority on the EU policy agenda. Related to this, the demand for and supply of sustainable products has also increased by providing financing for the green transition by banks and other financial institutions. One of the side effects of this change is the phenomenon of greenwashing, which, can impact the transition by reducing investor confidence, generating reputational and #financialrisks for the institutions involved, and affecting the overall credibility of sustainable finance policies and products. In May 2022, the European Supervisory Authorities (#ESAs) received a request from the European Commission for each ESA to provide input on the phenomenon of greenwashing. The EBA's progress report is a document that considers the following points: a high-level understanding of the greenwashing phenomenon with its main characteristics, most relevant types, associated #risks, monitoring tools, and gaps and inconsistencies in the current legislative framework. Authors: Tommaso Casagrande and Alessandro Ghisoni #greenwashing #EBA #EU #financialinstitutions #sustainablefinance

🌳 𝗘𝗺𝗽𝗼𝘄𝗲𝗿𝗶𝗻𝗴 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀𝗲𝘀 𝘁𝗼 𝘁𝗮𝗰𝗸𝗹𝗲 𝗯𝗶𝗼𝗱𝗶𝘃𝗲𝗿𝘀𝗶𝘁𝘆 𝗿𝗶𝘀𝗸 Since 2022, many governments have made it mandatory for businesses to report on climate-related financial risk. Doing so has increased the ability of business to respond to climate change and its threats. Increasingly, however, biodiversity risk and the decline of nature is coming to have an equally significant impact on business operations. Writing for Environmental Finance magazine, Nature Positive Managing Director Dr Richard Young explores what role biodiversity risk reporting has in global business and how to prepare for this to also become a mandatory reporting requirement. Richard discusses the role of frameworks, such as the Taskforce for Nature-related Finance Disclosures, and how business can prepare now. Read Richard’s thoughts in full in Environmental Finance now. 🔗 https://lnkd.in/ea8vwgmJ #biodiversity #ESG #Risk #Finance

🌍 Safeguarding #ClimateAction with #AntiCorruption Tools: A Roadmap to #JustTransition for #Development #Finance 🌍 In the fight for sustainable development and climate resilience, corruption remains a significant threat to achieving the Sustainable Development Goals (#SDGs). Join us for the “#Risk and #Resilience” side event during the Summit of the Future Action Days on 21 September 2024, where we will explore how robust anti-corruption frameworks can safeguard climate action and ensure the integrity of development finance. In a world where the impacts of climate change and geopolitical challenges increasingly disrupt global progress, corruption has the potential to divert much-needed funds, stall climate offset programs, and deprive vulnerable communities of their right to a better future. This event aims to bring together global leaders, policymakers, international organizations, civil society, and experts to collaboratively address these #risks. 🔑 Key Themes: -How corruption impacts financing for development and climate action. -Leveraging anti-corruption tools to ensure that funds dedicated to climate and development reach those most in need. -Insights into the role of anti-corruption measures in the full implementation of the 2030 Agenda for Sustainable Development. Hosted by: #UNODC, #WorldBank, #Brazil, #Colombia, #DominicanRepublic, #Norway, #UAE, #IMF, #GreenClimateFund, #UNDP, #UNCAC Coalition, and #TransparencyInternational 📅 Event Details: 🗓️ Date: 21 September 2024 ⏰ Time: 14:30 - 15:45 EST 📍 Location: United Nations Headquarters, New York (Room CR6) Corruption risks do more than damage financial flows—they fuel environmental crimes and threaten the very future of sustainable development. Join us as we work together to secure the integrity of climate action and development finance, ensuring that funds truly make an impact where they are needed most. Watch live here: https://lnkd.in/gsr6RYCe #ClimateAction #AntiCorruption #SustainableDevelopment #DevelopmentFinance #UNSummit2024 #RiskAndResilience #Transparency #2030Agenda #GCRI #OurCommonFuture #Risk #RiskManagement #GlobalRisks

Sustainable finance involves social, environmental, and governance aspects. Governance is pivotal, indicating business resilience. COVID-19 cost us 3% of GDP; climate change could reach 15%. - Nuru Mugambi (FKIB), Sustainable Finance Expert #AbsaInspireMe #YourStoryMatters

#Sustainable financing

I have just completed a short report on carbon markets in the Global South for Pico Analytics. This report covers all the key information you need to know about today's carbon markets and how they are affecting local and Indigenous communities as they develop. If you have a spare few minutes why not take a look and come to your own conclusions about whether carbon markets are simply greenwashing under a different name or if they offer an effective solution to the climate crisis...

Current issue highlight: Do foreign #InstitutionalInvestors influence corporate #ClimateChange disclosure quality? Research by Sudipta Bose, PhD (UNSW), MBA, BBA (Hons), CA (CAANZ), FCMA, Edwin Lim, Kristina Minnick & Syed Shams, PhD, reveals that the positive association between foreign institutional ownership and climate change disclosure quality is more pronounced for (1) firms domiciled in stakeholder-orientated countries, (2) firms domiciled in countries that adopt emission trading schemes, and (3) firms with a greater level of information asymmetry. https://lnkd.in/gFJFfS3k #CGIRjournal #CorpGov #FirmValuation #CarbonDisclosureProject #Owners #OpenAccess

Pico Analytics is proud to present our latest research report on #carbonmarkets in the Global South. In this report we cover the pros and cons of the carbon markets today and take a deep dive into #Africa and #SouthAmerica to discover more about how the markets are affecting local and Indigenous communities in these regions. We hope you find this report both interesting and enlightening and that it will help you to decide whether carbon markets offer a potential solution to limiting global #emissions and resolving the #climatecrisis or if they are too firmly entrenched in #greenwashing and corruption...