 Principles for Sustainable Insurance consultation takes off from Africa | |
UNEP FI and the African insurance industry took the first steps of a global journey to develop sustainability principles for the insurance industry at the regional consultation meeting for Africa in mid-March.
Over 70 senior executives from the African insurance industry and its stakeholders attended the meeting in Johannesburg, South Africa. They set in motion an unprecedented process during which insurers from all corners of the world will collectively develop a global best practice framework to manage environmental, social and governance risks and opportunities, and a UN-backed global insurance initiative.
The inaugural meeting was jointly hosted by African insurer, Santam, and the South African Insurance Association.
The consultation process will travel all regions this year, with the meeting for Latin America and the Caribbean being hosted by HSBC Insurance from 16 to 17 May in São Paulo, Brazil. This will be followed by meetings for North America, Middle East and North Africa, Oceania, Europe and Asia.
The Johannesburg event was met with much interest by African insurers and led to extensive media coverage.
"As risk managers, risk carriers and investors, the insurance industry is uniquely positioned to lead in understanding a changing risk landscape and in managing global and systemic risks," said UNEP FI's programme leader Butch Bacani, who coordinates the initiative.
The process will culminate at the 2012 UN Conference on Sustainable Development in Rio de Janeiro, Brazil, with the launch of finalised Principles for Sustainable Insurance as a landmark contribution to building a sustainable global economy.
 
More information here.
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| 2011 Global Roundtable now carbon neutral with new Green sponsor |
Carbon asset management company First Climate pledged earlier this month to offset all carbon emissions arising from the UNEP FI 2011 Global Roundtable (GRT), bringing the October conference a step closer to its objective of environmental sustainability.
 Despite UNEP FI's efforts to reduce the GRT's environmental footprint, in past years, over 70 percent of the two-day event's overall emissions are estimated to have stemmed from air transportation to and from the event.
As the GRT Green sponsor, First Climate will, however, offset all carbon emissions generated by the event - about 100 tonnes.
"Beyond mandatory reduction policies, offsetting emissions on a voluntary base is an important part of the fight against climate change. First Climate is proud to support the UN in this regard," said the company's executive board member Sascha Lafeld.
In order to reach maximum environmental sustainability, UNEP FI also partners with one of the leading green-event organizer in the Washington D.C. area, Lori Hill Event Productions.
The GRT will take place on 19 and 20 October in Washington D.C. The 2011 edition's theme is "The Tipping Point: Sustained stability in the next economy." Confirmed speakers include the best-selling author of The Black Swan Nassim Taleb.
More information and registration here.
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| New UNEP FI report on forest-carbon markets to be launched in London |
 UNEP FI, in collaboration with the United Nations REDD Programme, is pleased to invite you to a one-day workshop in London on the occasion of the launch of a new report: REDDy - Set - Grow: Opportunities, Risks and Roles for Financial Institutions in Forest-carbon Markets.
Only months before international climate change negotiations in Durban, South Africa, that could possibly lead to more rigorous regulations of the forest-carbon market, REDDy - Set - Grow makes the argument that financial institutions must step up their commitment to REDD regulatory mechanisms in order to get the rapidly growing green market off the ground.
Together with leaders from private finance institutions, senior policy makers from forest-rich countries and representatives of the REDD+ initiative, the workshop aims to explore the rapidly developing field of forest-carbon finance and discuss related opportunities, risks and roles for financial institutions.
Speakers include Bank of America Merrill Lynch's Global Head of Carbon Markets Abyd Karmali, Indonesia's REDD+ Taskforce Secretary Heru Prasetyo, BNP Paribas' Director of Environmental Markets and Forestry Christian del Valle.
More information and registration here. |
| New member: Banco Galicia becomes first UNEP FI signatory in Argentina | |
 Argentina's largest private domestic bank, Banco Galicia, became the country's first financial institution to join UNEP FI earlier this month, after adhering to the partnership's principles on sustainable finance.
"Throughout our long history, we have always strived to remain cutting-edge by taking both environmental and the social factors into consideration. To join the UNEP FI family represents for us a major step in that direction," said Constanza Gorleri, Manager of Corporate Social Responsibility of Banco Galicia.
Established in 1905, Banco Galicia has progressively grown into one of Argentina's main banking institutions. With over 4.2 million clients today, it is the country's foremost private bank.
In order to join UNEP FI, Banco Galicia signed the UNEP Statement on the Environment and Sustainable Development, an aspirational declaration that represents the backbone of the initiative and through which members openly recognize the role of the financial services sector in making the global economy sustainable, and commit to the integration of environmental considerations into all aspects of their operations. |
| Financial institutions gather in Munich for biodiversity finance event | |
Over 30 financial institutions representatives gathered in Munich, Germany, in early April to attend a pioneering workshop that shed some light on the interplay between biodiversity and ecosystem service criteria and credit risk analysis, lending policies and investment products.
The regional workshop, organized in collaboration with the HypoVereinsbank and the Verein für Umweltmanagement (VfU), also provided financial institutions with a platform to discuss their perceptions of the UNEP FI Natural Capital Statement, a statement currently in the making which sets guidelines for the incorporation by financial institutions of BES issues into their business operations.
Similar regional workshops and consultations were previously held in Hong Kong (November, 2010), Nagoya (October, 2010) and London (May, 2010).
More information here.
 
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| Environmental and Social Risk Analysis Online Course now offered in French |
UNEP FI and its partners successfully ran the first edition of the Environmental and Social Risk Analysis Online Course (ESRA) in French between late March and mid-April.
The first public ESRA Course in French will be running from 3 - 21 October. "We are excited about the release of the French edition of the Course, which will mean enhanced access to key sustainable finance best practice for francophone risk managers and analysts globally," said Dag Arne of DnB Nor, Chair of UNEP FI's Banking Commission.
A total of 20 participants from countries across the francophone world - such as Cameroon, the Democratic Republic of Congo and Morocco - took part in the pilot course.
The ESRA course is specifically designed for banks based or operating in emerging and developing countries. It aims to assist risk and credit managers in the identification, analysis and management of environmental and social risks generated by lending and investment activities.
The next courses will run on 9 - 27 May (in Spanish) and 30 May - 17 June (in English). The ESRA Online Course is a product of UNEP FI, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, and the INCAE Business School, with the support of the Ecobanking Project. The French edition of the Course was produced in 2010 thanks to the support of DEG - Deutsche Investitions-und Entwicklungsgesellschaft mbH ("DEG"), Promotion et Participation pour la Coopération économique (Proparco) and the Agence Française de Développement (AFD).
More information and registration here.
 
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| Review of the CleanEquity 2011 event | |
 CleanEquity Monaco 2011, held in the in the small Mediterranean principality, wrapped up successfully in early March.
Paul Clements-Hunt, head of UNEP FI, reviewed the event.
"This event has always intrigued me. It is small, select and held
in one of the world's smallest nations. Each year it follows the same format, yet each year it is fresh, informative, fun and different. If you are in any way interested getting a sneak peak at the clean technologies of tomorrow this date must be on your calendar.
"Conceived of by His Serene Highness Prince Albert II of Monaco and Mungo Park, Innovator Capital's Chairman, CleanEquity Monaco has one overarching ambition: to introduce emerging clean and green technology companies to all the contacts they need to become commercially viable and sustainable. I attended the first CleanEquity because by chance I was down the hill at a UNEP conference. It seemed extraordinary to me that the two events were not more connected so we at UNEP Fi got involved and remain involved today..."
Read the full review here. |
| International Integrated Reporting Committee launches revamped portal |
The International Integrated Reporting Committee (IIRC) launched its new website, www.theiirc.org, earlier this month.
Integrated Reporting demonstrates the linkages between an organisation's strategy, governance and financial performance and the social, environmental and economic context within which it operates.
 The IIRC, is an international cross-section of leaders from the corporate, investment, accounting, securities, regulatory, academic and standard-setting sectors as well as civil society. It is chaired by Sir Michael Peat, Principal Private Secretary to TRH The Prince of Wales and The Duchess of Cornwall.
More information here. |
| Application deadline for Leadership for Sustainable Development Fellowship extended | |
 Don't miss out on an opportunity to join a unique global network of 2,200 sustainability leaders in more than 90 countries by applying to the 2011 LEAD Europe Fellows Programme in Leadership for Sustainable Development.
Applications will exceptionally be accepted until 3 May this year.
More information here. |
| New study outlines ESG interest of shareholders in France |
French shareholders engagement towards Environmental, Social and Governance (ESG) issues has surged in recent years, according to a new report by the French Study Centre for Corporate Social Responsibility (or Observatoire sur la Responsibilite Sociale des Entreprises, ORSE).
The study, launched in late April by the Paris-based centre, provides an overview of the diversity and development of engagement practices that have been increasingly popular among shareholders - ranging from the reform of voting rights at AGMs, to the development of a sustained dialogue with companies - with the aim of raising awareness among stakeholders at large. It follows in the footsteps of a recent European Commission Green paper, the EU Corporate Governance Framework Paper, which calls for better corporate governance among European companies.
Download the full report here (French) or the executive summary here (English). |
| Plastic Disclosure Project appeals for support of UNEP FI members | |
The Plastic Disclosure Project (PDP) is appealing to UNEP FI members for endorsement of this unique green initiative.
Established in conjunction with the Association for Sustainable and Responsible Investment in Asia and partners in Australia, Europe and the US, PDP will track the corporate use of plastics in companies with the aim of increasing the efficiency of its use while reducing its harmful impact on the environment.
Nearly all plastic consumed today is not biodegradable and is  derived from non-renewable petroleum. Its use in products and packaging is pervasive, consumption is increasingly single-use, and global estimates are that less than 10 percent is recycled.
Endorsement will encourage companies to disclose their plastic footprint, plastic management strategies and initiatives to innovate alternatives.
More information here. |
| GLOBE 2011 Summit in Costa Rica shaping up |
Preparations are underway for the GLOBE 2011 Summit, slated to take place this year in San Jose, Costa Rica.
The 2011 edition of this yearly landmark meeting will connect hundreds  of leaders from business, government, and academia from Latin America and beyond to share insights and ideas on renewable energy, water, biodiversity, carbon management, clean technology investment, and responsible finance.
Confirmed speakers include Costa Rican President Laura Chinchilla Miranda, Organization of American States' Chief, Energy and Climate Change Mitigation Mark Lambrides, and the World Bank Group's lead Financial Specialist/Carbon Finance Coordinator, Chandra Shekhar Sinha.
More information here. |
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| In this newsletter... | |
- Sascha Lafeld, First Climate executive board member -
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- Constanza Gorleri, Banco Galicia Corporate Responsibility Manager - ***
- Butch Bacani, UNEP FI programme leader, Principles for Sustainable Insurance - |
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UPCOMING: Online Course on Energy Efficiency Financing in Buildings | |
Spanish:
6 - 24 June
The objective of the Energy Efficiency Financing in Buildings course is to promote the transition towards a low-carbon economy by showing lenders how to develop green financial products and services - specially for buildings - that are energy efficient. | |
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