Climate change had the potential to have a bigger impact on credit ratings than the Covid-19 pandemic

Larry Elliott writes on The Guardian website about a new study that used artificial intelligence to simulate the economic effects of climate change on Standard and Poor’s ratings for 108 countries over the next ten, 30 and 50 years, and by the end of the century. UK, US and others face credit rating fall … Continue reading Climate change had the potential to have a bigger impact on credit ratings than the Covid-19 pandemic →

In its first economy-wide climate stress test, the European Central Bank assessed the impact of climate change on four million companies and 2,000 banks in the bloc

Gurpreet Narwan writes on The Times website about the first economy-wide climate stress test by the ECB on companies and banks in the European Union. European Central Bank environment stress test shows polluters at risk Climate change poses “a major source of systemic risk” to the economy, the European Central Bank has warned after … Continue reading In its first economy-wide climate stress test, the European Central Bank assessed the impact of climate change on four million companies and 2,000 banks in the bloc →

Our global Covid recovery plans are still not giving enough attention to sustainability

Madeleine Cuff writes on the inews website that less than a fifth of the Covid recovery spending announced by governments around the world has been earmarked for green projects. How do we get that to change? Less than 20 per cent of global Covid recovery spending is green, report says Despite promises to “build … Continue reading Our global Covid recovery plans are still not giving enough attention to sustainability →

One of Britain’s biggest insurers lets corporate clients know they will lose cover if they fail to meet GHG emissions targets

Aviva is the first global insurer and the first UK financial services company to set a target of reducing carbon emissions to net zero by 2040. Louisa Clarence-Smith discusses latest developments in an article on The Times website. Aviva leads global insurers on climate change plan One of Britain’s biggest insurers is putting companies … Continue reading One of Britain’s biggest insurers lets corporate clients know they will lose cover if they fail to meet GHG emissions targets →

Beware of carbon accounting tricks for us to achieve net zero

Disaster looms if big finance is allowed to game the carbon offsetting markets to achieve ‘net zero’ emissions. Simon Lewis, professor global change science at University College London and University of Leeds, discusses in an article on the Guardian website. The climate crisis can't be solved by carbon accounting tricks An astonishing global shift … Continue reading Beware of carbon accounting tricks for us to achieve net zero →

Cities of Leeds and London will be home to a new UK centre for driving global green finance and investment

The research hubs in the two cities will provide data and analytics to financial institutions and services such as banks, lenders, investors and insurers around the world to better support investment and business decisions by considering the impact on the environment and climate change. The hubs also aim to attract and develop new green finance … Continue reading Cities of Leeds and London will be home to a new UK centre for driving global green finance and investment →

Outgoing Secretary-General of OECD says action on environmental crises must be defining focus of wealthy countries after Covid

The outgoing Secretary-General of the OECD Ángel Gurría said the coronavirus crisis must be dealt with as a matter of urgency, but that the biggest task after that would be tackling the world’s environmental emergencies. Fiona Harvey reports in The Guardian about the views of Mr. Gurría on the climate crisis. In a separate article … Continue reading Outgoing Secretary-General of OECD says action on environmental crises must be defining focus of wealthy countries after Covid →

Britain comes up with its own emissions trading scheme

On January 1st, EiD had a post about Britain, Brexit and ETS and where everything was heading. Now Andrew Warren, Chairman of the British Energy Efficiency Federation writes in February issue of Energy in Buildings & Industry about Britain’s own emissions trading scheme. Although the UK has set its own scheme, it is likely that, … Continue reading Britain comes up with its own emissions trading scheme →

Upcoming event: EEFIG 2021 Plenary, February 9-10th

This year’s most important event in energy efficiency financing is coming up in two weeks. Make sure to register (see below). The Energy Efficiency Financial Institutions Group (EEFIG) organises annual plenary meetings that are open to all members and interested parties. The next plenary is taking place on 9-10 February 2021 in virtual format. This … Continue reading Upcoming event: EEFIG 2021 Plenary, February 9-10th →

The Green Climate Fund is by design a learning institution

The Green Climate Fund, the biggest multilateral climate fund, is a good example of an institution whose built-in learning structures and accountability have allowed it to remain relevant. Archi Rastogi discusses what the fund can teach us about multilateral organisations. In an article on the Policy Options website. What the Green Climate Fund can teach us … Continue reading The Green Climate Fund is by design a learning institution →