United Nations Environment Programme Finance Initiative (UNEP FI)

The Net-Zero Asset Owner Alliance has proudly welcomed its newest supporter, the Austrian Green Finance Alliance (GFA). GFA is one of the first state-run initiatives worldwide that calls on financial institutions to make a voluntary yet binding pledge to align their portfolios with 1.5°C pathways. Read more about GFA and other #NZAOA supporters here: https://lnkd.in/dvGu7JG #sustainablefinance #netzerofinance

Scaling up private investment in #ClimateAdaptation is crucial for building resilience against the physical impacts of climate change. Join us on 7 May to discover a new framework for measuring the impact of #investments on climate adaptation and resilience and contribute to closing the adaptation gap. Read more and register here: https://ow.ly/rtyu50Rm9Sk

Luanne Sieh explains how CIMB uses the UN Principles for Responsible Banking and its climate accelerator, the #NetZeroBanking Alliance, to set sustainable targets and get results.

Find out how banks can leverage the close alignment between #ESRS and the Principles for #ResponsibleBanking for #CSRD implementation using UNEP FI's new ESRS Interoperability Package. Join our upcoming webinar on 21 May: https://ow.ly/JBLB50RoLa4

WEBINAR: A bank-led review of the 'Guidelines for Climate Target Setting for Banks' recently concluded with NZBA members voting to adopt a series of proposed updates. Register here to join us tomorrow and learn more: https://ow.ly/QnVh50R9eHO #NetZeroBanking

It was a pleasure to speak with a number of media outlets on the aims of the Forum for Insurance Transition to Net Zero #FIT. The FIT is a new, United Nations-led and convened #multistakeholder forum on how insurance can accelerate and scale up the transition to a #netzero economy. One of the journalists I spoke to was Louise Isted of Insurance Day. Read the Insurance Day article: https://lnkd.in/dhfaapCz Read the UN announcement: https://lnkd.in/dSxkZHRD At the UN Environment Programme, we look forward to working together with the 46 founding FIT organisations from across the globe—from insurers, reinsurers, and insurance regulatory and supervisory authorities; to scientific and academic institutions, and civil society organisations. The door is wide open for other organisations to join the FIT. Organisations that share the conviction that the climate emergency is an unprecedented global crisis that requires urgent and ambitious action by all actors in society to protect lives, livelihoods and assets; and an unprecedented generational opportunity to build a resilient, sustainable and prosperous future for all. #NetZeroInsurance #NaturePositiveInsurance #SustainableInsurance   United Nations Environment Programme Finance Initiative (UNEP FI) Louise I.

Find out how banks can leverage the close alignment between #ESRS and the Principles for #ResponsibleBanking for #CSRD implementation using UNEP FI's new ESRS Interoperability Package. Join our upcoming webinar on 21 May: https://ow.ly/JBLB50RoLa4

Wondering how to measure the impact of your #investments in #ClimateAdaptation and resilience? Mark your calendar for 7 May to dive into a new framework supporting investors in measuring and scaling up investments in climate adaptation. Read more and register here: https://ow.ly/7jUB50Rma5q

ANNOUNCEMENT: How can #insurance accelerate and scale up the transition to a #netzero economy? The UN Environment Programme #UNEP is pleased to announce the creation of the Forum for Insurance Transition to Net Zero #FIT, a new UN-led and convened #multistakeholder forum.   Chaired by UNEP, the FIT will work with insurance market participants and engage with insurance regulators & supervisors, net-zero standard-setters, the scientific & academic community, civil society, and other key stakeholders to accelerate and scale up #netzeroinsurance thinking and practices.   FIT priorities to foster availability of insurance and finance for transition projects and technologies and net-zero activities: 1. Advancing frameworks for net-zero insurance metrics & voluntary targets, and developing new net-zero insurance concepts 2. Developing a net-zero transition plan framework for insurance market participants 3. Engaging with the real economy on the development of net-zero transition plans by corporates across different sectors 4. Tackling challenges and opportunities to develop insurance solutions & taxonomies that would support the net-zero transition    Overall, the FIT is kickstarting its work with a critical mass and diverse group of 46 organisations from across the globe. We expect more to join the FIT in the coming months as it becomes fully operational.   Founding FIT participants comprise 19 insurers and reinsurers from Africa, Asia, Europe, Latin America & the Caribbean, North America and Oceania.   Founding members of the FIT’s Consultative Group of Insurance Regulators & Supervisors comprise 16 regulatory and supervisory authorities from all regions, including Australia, Brazil, Colombia, Costa Rica, European Union, France, Germany, Ghana, Italy, Kenya, Singapore, The Netherlands, UK, and 3 states in the USA (California, Illinois, Washington State). Founding members of the FIT’s Consultative Group on Science, Research & Civil Society comprise 11 academic and civil society organisations.   The FIT’s legal team comprises experts on antitrust and competition laws, sustainability, insurance and finance, from 3 leading global law firms. Freshfields Bruckhaus Deringer is the FIT’s legal counsel, led by 2 Partners. Furthermore, 2 legal advisors from Cleary Gottlieb Steen & Hamilton LLP and Norton Rose Fulbright are individual special legal advisors to the FIT.   As part of this evolution in UNEP’s work with the global insurance industry and key stakeholders, the Net-Zero Insurance Alliance (NZIA) will be discontinued effective 25 April 2024. Through the FIT, UNEP will deepen and strengthen its commitment to work with the global insurance industry and key stakeholders to accelerate and scale up the transition to a net-zero economy, as part of the solution to the global climate crisis and the vision of a resilient, sustainable and prosperous future for all. Full announcement: https://lnkd.in/dHcY8ajJ Web: https://lnkd.in/dcJ5c4vS

Requirements of the Principles for #ResponsibleBanking are highly aligned with the requirements of the CSRD. Find out how banks can leverage this alignment and interoperability to fulfil CSRD implementation using our new ESRS Interoperability Package: https://ow.ly/hKZr50RcYs8