United Nations Environment Programme Finance Initiative (UNEP FI)’s Post

Navigating human rights impacts is complex, but practical tools can make a difference. The Human Rights Toolkit is designed to help financial institutions align with international expectations under the UNGPs, offering guidance for implementation. This comprehensive resource includes: ✅ Guidance on developing a human rights policy ✅ Steps for conducting human rights due diligence ✅ Insights on advancing remedy and grievance mechanisms We’re thrilled to invite you to the launch next week! Don’t miss it!! Joana Pedro Robert McCorquodale Fernanda Hopenhaym UN Working Group on Business and Human Rights Lea Marie Toft Juliussen Louise Vytopil Charlotte Hill Joana Pedro Phil Bloomer Kindra Mohr, Esq. Paloma Muñoz Quick Ashleigh Owens Brianna Peterson Mauricio L. Ben Shea Benjamin Michel Ryan Brightwell Giulia B. Ioana Tuta Signe Andreasen Lysgaard

UNEP FI Human Rights Toolkit "The toolkit is not just another compliance checklist—it’s a comprehensive guide designed to empower financial institutions to take meaningful action. With tailored advice across specific industry sectors and geographies, it helps businesses understand the unique challenges they face when it comes to human rights." 📚 Read the article here:https://lnkd.in/dUX9qYQB ⏰ Join us tomorrow at 1pm CET here: https://lnkd.in/djfQjiqq

Join UNEP FI on 28 January for the launch of the #HumanRights Toolkit for Financial Institutions. The webinar will: 1) Discuss how the business case for financial institutions is evolving in relation to human rights, addressing why financial institutions should integrate a human rights approach into their activities. 2) Provide a comprehensive overview of the kit’s content and functionality and demonstrate how it can help banks integrate human rights considerations into their financial decision-making. 3) Explore the value of a sector-specific approach that offers in-depth, tailored guidance for addressing the unique challenges faced by different industries. Thank you to European Investment Bank (EIB)which supported the development of the toolkit and financed the project. To register for the webinar, click here: https://ow.ly/bf6P50UEc13 #bizhumanrights

🚀 Join us on January 28 for the launch of the #HumanRights Toolkit for Financial Institutions! Discover how integrating human rights can enhance your financial practices and learn about tailored strategies for your industry. To register for the webinar, click here: https://ow.ly/bf6P50UEc13

In June 2017, the Task Force on Climate-related Financial Disclosures (TCFD), established by the G20’s Financial Stability Board, published recommendations to encourage financial institutions and non-financial companies to disclose information on climate-related risks and opportunities. A number of governments and financial regulators around the world have expressed support for the recommendations and are integrating them into their guidance and policy frameworks. Examples include Australia, Canada, Hong Kong, Japan, Singapore and South Africa, as well as some EU Member States and now Turkiye. I wrote a brief note. #climaterisks TULIP SUSTAINABILITY CENTER İKLİMKARBON #ESRReporting #KGK #TSRS

The devil is indeed in the details when it comes to the New Collective Quantified Goal (NCQG). The agreement ambitiously aims to mobilize $300 billion per year for developing countries by 2035, with developed nations supposedly taking the lead. It also calls on all actors to scale up finance to developing countries to $1.3 trillion per year by 2035 from both public and private sources. However, "taking the lead" implies that the full $300 billion won't come solely from public sources within developed countries. We can expect a mix of grants and loans, contradicting the Paris Agreement's policy framework. Even if developed countries were to fully fund the $300 billion, scaling up to $1.3 trillion would require an additional $1 trillion. This clearly shows that developed countries are not truly taking the lead as claimed by the NCQG. It seems like an agreement set to fail from the very beginning.

It's always a bit sad to hear people focus myopically on integrity in the context of "robust quantification" i.e. counterfactual baselines for avoidance projects, while literally ignoring the issue of integrity of financial flows. Yes, there are bad actors in the Voluntary Carbon Market (VCM), but the reality is that most governments and local communities stand to gain in a way that’s far more transparent than the murky financial channels of the multilateral system. The VCM isn’t perfect, but at least it channels tangible, traceable funds directly into communities and governments, creating real opportunities. Contrast this with multilateral systems, where financial flows are often opaque, and it’s clear which approach better supports sustainable development on the ground. Given that most VCM criticism can be traced back to the multilateral donor system, true market advocates need to focus their criticism where it most matters: ensuring that finance reaches those who need it most and that it delivers the intended impact. #ClimateFinance #IntegrityMatters #ClimateActivism

🔎 At the UN Forum on Business and Human Rights currently taking place in Geneva, our policy officers Anna Roggenbuck and Nina LESIKHINA are shining a light on pressing issues outlined in our latest report: ‘Holding the European Investment Bank (EIB) and EBRD accountable: Are their grievance mechanisms effective?’ Both institutions play a crucial role in financing development projects around the world. When things go wrong, their grievance mechanisms should provide effective remedial measures for affected communities, especially in countries with shrinking civil society space and worsening human rights conditions. Our analysis reveals that the EIB Group Complaints Mechanism (EIB-CM) lags far behind the EBRD’s Independent Project Accountability Mechanism (IPAM). Here are some of our main findings: 💡 The EIB-CM lacks independence. The absence of direct reporting to the Board, budget autonomy, and the need to agree on final conclusions with EIB management undermine its legitimacy and fairness. 💡 The EIB-CM process lacks clarity and transparency, leaving complainants uncertain about what to expect, including possible outcomes and the remedial options available. 💡 IPAM needs to adjust its eligibility criteria for complainants to make the mechanism more accessible for affected rights holders and civil society organisations. 💡 Unless both banks accept their responsibility for the damage and negative consequences resulting from their maladministration and develop a policy framework to fulfil their role in contributing to remedial action, they will not be able to fully align with international human rights standards. 📢 As both mechanisms come up for review next year, we're calling on the banks to strengthen them, as they are key to protecting human rights and promoting climate justice in development projects! Read our report and follow us for more updates: https://lnkd.in/e7B2pGWv #UNForumBHR #BizHumanRights

Last night, senators voted 34-25 to introduce mandatory climate and sustainability related financial reporting, with the initial reports for Australia's largest companies due on 1st January 2025. The long awaited bill creates an internationally aligned framework for Australian companies to report, disclose, and measure climate and sustainability-related financial risks.   In a statement released on August 22, Treasurer Jim Chalmers said "These new laws will modernise our financial system, provide greater information and clarity to investors, and incentivise investment in the net zero transformation…These critical reforms provide investors and companies the clarity and certainty they need to support the net zero transformation and further strengthen Australia’s reputation as an attractive destination for international capital." #ISSB #ASRS #IFRS #ClimateReporting #ClimateDisclosure #NettZero

Put a fork in it. After plenty of umming and arring, Australia's senate has green-lit the bill containing ISSB aligned mandatory climate and sustainability related financial disclosures. In a move that is expected to push Australia towards a unified global reporting framework, starting on Jan 1 2025 Australia's largest companies will need to measure and disclose their climate related risks and opportunities to investors, with group 2 and group 3 reporting hitting the ground in 26/27. While some might perceive this as just another regulatory box to tick, those who are prioritising access to competitive green capital and long term investor trust have been quietly working on these reports for some time now.   If phrases like 'scenario analysis', 'double-materiality', or 'ISSB, ASRS, IFRS, and TCFD' have you scratching your head, you're not alone. Shoot me a message or reach out to NettZero to learn what and when your company might need to disclose.