Although the NCD can only be signed by the CEOs of financial institutions, Eurosif and SIF Japan join a growing number of other organisations that are also expressing their support for the NCD, including US SIF and UKSIF.

More information here.

The time is ripe for a global policy framework on corporate sustainability reporting, says the Chair of UNEP FI's Investment Commission David Pitt-Watson in an opinion article recently published in various newspapers across the globe.

Co-authored with UNEP's head Achim Steiner and other advocates of a reporting reform, the article argues that despite existing guidelines and standards, there is a need to level the playing field with a global agreement on reporting.

A recent survey of stock exchange respondents has found that 80 per cent of those responding wanted a global approach to sustainability reporting, notes the article.

"A range of commitments will be before world leaders in Rio in a few weeks time. Evolving sustainability reporting onto a higher, more widespread and legally-grounded level, ideally in the form of a future convention, should be firmly on their radar," concludes the article.

More information here.

A workshop was held in Frankfurt, Germany, on 30 May at KfW offices to present the preliminary findings of UNEP FI's and the Global Footprint Network's Environmental Risk in Sovereign Credit assessment (E-RISC) project.

The E-RISC project focuses on assessing how to integrate ecological risk into sovereign credit rating and sovereign fixed income investments.

The discussion took place among participating investors, asset managers, and information providers - as well as to the advisory group. It centered on understanding how Environmental, Social and Governance (or ESG) issue, particularly ecological risk as one in a range of possible material indicators, can be embedded in conventional sovereign fixed income risk models.

More information here.

The 15th UNEP FI Korea Group meeting was held in Korea Federation of Banks building at the end of May, with more than twenty participants from members and non-members of Korea Group.

KB Bank, the head institution of Korea Group, and Eco-Frontier, the partner institution of UNEP FI in Korea, hosted the meeting in collaboration with UNEP FI.

Presentations by Mr. Oh from Ministry of Environment on trends of green finance and Ms. Im from KEITI on Green Financial Funding Enterprise Assessment System fostered talks among participants to reorient themselves in pursuing green finance. It was agreed that Korea Group members will act together in participating international initiatives, such as Natural Capital Declaration.

The next meeting will be held this autumn.

More information here.

Participants at the Green Finance workshop

In light of the newly released "Green Credit Guidelines" in February this year by the China Banking Regulatory Commission, the Ministry of Environmental Protection and the People's Bank of China, UNEP FI and the China Banking Association jointly hosted a timely workshop on Green Finance and Sustainable Banking. 

The audience consisted of 42 banks, 2 asset management companies and 7 regional Banking Associations, amounting to 118 participants in total. During the interactive discussion, the participants expressed their key concerns on environmental information asymmetry and poorly-placed penalty and bonus mechanisms, which led to hesitation on implementing green credit into their core businesses. 

To address the concerns, the workshop presented a holistic view of the state of global green finance, trends and outlook, practical tools on social and environmental risk analysis as well as existing good practices among Chinese financial institutions. "Green Credit is not just a product or slogan, it should be integrated into the cultures of financial institutions" Mengqi Cai, Programme officer of Asia Pacific Task Force commented in his opening remarks.

More information here.

UNEP FI's Mengqi Cai speaking at the Forum

Jointly hosted by the China Banking Regulatory Commission (CBRC) and the International Finance Corporation, the Green Credit Forum in Beijing proved to be a very productive event. 

In attendance from UNEP FI were three officers, including Mengqi Cai who joined the discussion panel "Sustainable Banking from the Perspective of International Institutions". 

The forum's objective was to build a high-level platform to share emerging market knowledge and experience, while fostering new partnerships on efforts in sustainable banking. Indeed, opportunities were plenty as public and private stakeholders from countries as wide-ranging as Brazil, Nigeria, Bangladesh, Thailand, Malaysia, Indonesia and Vietnam were represented.

UNEP FI is now recruiting a new head.

The recruitment of a replacement head for UNEP FI is an open and competitive process.

Candidates with a minimum of ten years of work experience relating to finance, investment, insurance, economics, and environment are encouraged to apply. Eligible and willing candidates are encouraged to submit their candidacy until 23 June 2012.

More information here.

Three UNEP FI reports, Translating ESG into Sustainable Business Value, Fiduciary Responsibility, and The Materiality of Climate Change are now available to a broader audience following translations in Chinese, French, Portuguese and Spanish.

Translating ESG into Sustainable Business Value: Key insights for companies and investors is a tool to advance the integration of ESG factors into corporate and investment decision-making. 

Fiduciary Responsibility: Legal and practical aspects of integrating environmental, social and governance issues into institutional investment is a sequel to UNEP FI's landmark 2005 "Freshfields Report" which, until now, has arguably been the single most effective document for promoting the integration of environmental, social and governance (ESG) issues into institutional investment. This 2009 follow-on report provides a legal roadmap for fiduciaries looking for concrete steps to operationalise their commitment to responsible investment.  

Full downloads here.

UNEP FI activities at Rio+20

All eyes turn to the milestone United Nations Conference on Sustainable Development, or Rio+20, this June.

UNEP FI will be a party to Rio as well, with a series of events under preparation.

You will find below a description of each of these events. You can also visit UNEP FI's website here for more information.

Organized by the UN Global Compact in partnership with UNEP, the Corporate Sustainability Forum is the official private sector platform of Rio+20. 

UNEP FI will hold two sessions during the Forum:

17 June: "Green Gold: Financing the way forward" will offer insights on how banks, insurers and investors support green business, technologies and industry and the transition to a green economy. The session will be underpinned by the finance chapter of UNEP's Green Economy Report.

17 June: "From 1992 to 2012: Twenty years of sustainability mainstreaming in the financial sector" will highlight progress and trends in embedding sustainability issues into financial institutions' daily business strategies and operations. It will assess the last 20 years and evaluate challenges going forward.

A third session is co-convened by UNEP FI, UNEP, and the UN Global Compact:

16 June: "Towards a Green and Resilient Economy: Addressing the climate-water nexus" will explore how companies can integrate and build effective resilience measures into their business strategies, operations and throughout the value chain.

More information here.

Launch of the Natural Capital Declaration, 16, 18 & 20 June

UNEP FI will launch the Natural Capital Declaration at Rio+20 together with its partners - the Global Canopy Programme and the Center for Sustainability Studies (GVces) of the Getulio Vargas Foundation's Business Administration School. 

The Declaration is the first of its kind whereby financial institutions voluntarily commit to work towards integrating natural capital considerations into financial products and services. At the same time, endorsing institutions call upon governments to develop the enabling environment.

More information here.

Next courses: 11-29 June (Spanish)

                     11 July-3 August (Spanish)

                     30 July-17 August (English)

                     8-26 October (French)

Register now for the Environmental and Social Risk Analysis (ESRA) Online Course! 

This course is an interactive educational experience that runs over a three-week period. It is intended specifically for risk managers and analysts in commercial, corporate, investment, and retail banking in, or dealing with, developing countries and emerging markets.

More information and registration here.

Next course: 11-29 June (Spanish)

Energy Efficiency Financing in Buildings Online Course. Register now!

The objective of this training course is to promote the transition towards a low-carbon economy through the financing and investment in energy efficiency projects, especially in the sector of property.

More information and registration here.

Next course: 15 October-5 November (English)

Climate Change: Risks and Opportunities for the Finance Sector Online Course. Register now!

The Online Course on "Climate Change: Risks and Opportunities for the Finance Sector" provides participants with a fundamental understanding of the science behind climate change and the structure of the international climate change regime. Furthermore, this course aims to educate participants on how financial markets-across the banking, investment, and insurance sectors-can cope with the resulting risks of climate change, and seize the potential opportunities.

More information and registration here.

Monthly top downloads

Insurance in a Changing Risk Landscape: Local Lessons from the Southern Cape of South Africa

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