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UNEP FI welcomes EU Strategy for Financing the Transition to a Sustainable Economy

On 6 July 2021, the European Union (EU) published its Strategy for Financing the Transition to a Sustainable Economy, showcasing the areas of key development since the Action Plan for Financing Sustainable Growth was published in March 2018. The publication establishes the strategic priorities and next steps in terms of both legislative and non-legislative actions in the EU with a clear aim to support the EU Green Deal and the path to a carbon-neutral Europe by 2050.

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New guide available to navigate biodiversity module

Developed by the Natural Capital Finance Alliance (NCFA), which consists of UNEP-WCMC, UNEP FI and Global Canopy, the guide aims to take a deep dive into the ENCORE biodiversity module through a comprehensive introduction to the tool and the module, as well as thorough explanations on the purpose and usage of the module to identify and assess biodiversity-related risks and opportunities.

The Ocean as a Climate Solution

The ocean is not just a victim of climate change, it is also a source of solutions. The transition to a sustainable “blue” economy is an opportunity to re-cast how we use, manage and protect ocean resources in a more integrated manner. Unlocking the financial sector for the sustainable blue economy allows for the potential of an environmentally and socially sustainable future that will be resilient to the impacts of climate change while providing livelihoods, food and prosperity.

Mark Carney urges banks to commit to tackling climate change and join the Net-Zero Banking Alliance

In an interview with ITV News, Mark Carney, UN Special Envoy on Climate Action and Finance, urged international lenders to join the Net-Zero Banking Alliance before COP26 begins in Glasgow in November. “The question for those institutions is to get themselves in a position so they can make these commitments,” Mr Carney says. “And, to be clear, these are serious commitments. You are committing to net zero, you’re committing to show how you are going to get there."

ESG Investor: Pouring Money on Troubled Waters

Investment in blue economy is vital for planet’s future, but the breadth of risks to ocean health pose challenges to asset owners. The ocean economy is estimated to be worth US$2.5 trillion annually, but just US$13 billion has been invested during the past ten years to support sustainability, according to an international joint academic and public institution report. If further action is not taken to tackle the effects of unsustainable use of oceans and their resources, a total of between US$200 billion-US$1 trillion will be required annually by 2100 to pay for coastal protection, relocation of people and loss of land to sea level rise.