Since 2011, the International Development Finance Club (IDFC) has conducted a periodic mapping of member institutions’ green finance contributions. In 2021, IDFC members reported a record high of USD 224 billion in total green finance commitments, a 21% increase from 2020. Cumulatively, green finance commitments by IDFC members surpassed USD 1.2 trillion since the Paris Agreement was signed in 2015.
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The report identifies green and sustainable investment opportunities in the country and brings the latest market figures on the shape and size of the Peruvian GSS+ debt market. This report also provides an overview of supporting policy developments and milestones over the last decade. It discloses tangible green opportunities for Peru’s critical economic sectors.
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A green taxonomy is a list that classifies all business activities based on their contribution to environmental aims and thresholds. Launched in January 2022, Indonesia’s Green Taxonomy 1.0 has been designed mainly as a guidance, rather than a mandatory instrument. This, however, may expand in the future, for example, through mandatory disclosures of taxonomy-relevant investment portfolios.
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Lowering the ambition of the EU green taxonomy creates a cascading geopolitical risk. This briefing makes the case for ensuring that the economic activities included in the EU green taxonomy continue to be categorised in line with the principles set out in the Taxonomy Regulation, to avoid reputational damage for Europe, and the weakening of climate ambition internationally.
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The UK Government announced in the Green Finance Roadmap its intention to create a world-leading net zero financial system. However, an important part of delivering this sustainable system lies in how the government supports private finance in going green. This briefing establishes exactly what is a net zero financial centre, and outlines a suggested timeline for the sub sectors of the UK finance sector to transition to net zero.
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China has pledged to be carbon neutral by 2060. It’s a huge ambition and will require a vast amount of domestic and international investment. China’s statement that it will be carbon neutral by 2060 will require an estimated US$21 trillion in investment, according to research from Tsinghua University in Beijing. The Chinese green bond market is the second largest market outside of the US in terms of issue size and capacity.
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Finance is playing a significant role in encouraging Australia’s push towards net zero, with companies that commit to climate targets finding it easier to attract investment and raise capital, according to Jo Spillane, Global Head of Private Capital Markets at Macquarie Capital. Spillane says that one of the main vehicles through which this is happening is Australia’s pension funds, or superannuation (super) funds as they are known locally.
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Incorporating gas-powered generation as a sustainable investment into Asian taxonomies could have unintended consequences, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA). Doing so could lock Asia into a high-emitting future while also posing a credibility and greenwashing problem that Asian policymakers and ESG debt investors would be wise to avoid.
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Total volumes for labelled Green, Social and Sustainability (GSS) bonds, Sustainability-linked bonds (SLB) and Transition bonds reached nearly half a trillion (USD496.1bn) in the first half of 2021. This amount represents 59% year-on-year growth in the GSS market from the equivalent period in 2020. It also sets the labelled sustainable debt market on track to reach another record high by end December.
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Green bond issuance in South Africa has been patchy with strong issuance early on followed by small volumes in the intervening years and a bumper year in 2019. Encouragingly, there has been a good diversification of issuers including banks and cities. Supportive regulation is critical and can take the form of direct support for green bonds (subsidies etc.) or, more importantly for the energy sector, through strong and consistent policy support across planning, finance, procurement and energy.
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The timeline of the work that needs to be done to move cities to net zero carbon is such that it also requires thinking about stewardship and governance. This is ten to twenty years work which doesn’t fit neatly with our typical political cycle. Setting up governance structures in a way that avoids these programmes being derailed by politics every 3 to 4 years is critical to their chances of success.
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JPMorgan Chase aims to finance and facilitate more than $2.5 trillion over 10 years – beginning this year through the end of 2030 – to advance long-term solutions that address climate change and contribute to sustainable development. This development is in line with the firm’s Paris-aligned financing strategy and will help accelerate the transition to a low-carbon economy by encouraging actions that set a path for achieving net-zero emissions by 2050.
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As it turned out, decarbonization was lucky enough to be a safe haven during the health and economic crises of 2020. Here are just three pieces of evidence: clean energy shares roared to new records, up a remarkable 142% last year on the WilderHill New Energy Global Innovation Index (NEX); we saw the biggest financing ever in non-hydro renewables, at $8.3 billion for the first two stages of the U.K.’s Dogger Bank offshore wind project; and governments turned suddenly greener – China announcing a goal of net-zero emissions by 2060, and countries committing a total of more than $800 billion to ‘green stimulus’ programs.
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The Philippines has been one of the fastest growing economies in the Association of Southeast Asian Nations (ASEAN) and despite the covid-19 crisis, the economic growth is expected to rebound gradually in 2021–2022. However, this recovery from the COVID-19 crisis would need urgent focus on green infrastructure and creating an enabling environment for these investments. The Green Infrastructure Investment Opportunities: Philippines 2020 Report has been prepared by the Climate Bonds Initiative (CBI).
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Investors representing more than $45 trillion in assets under management have already agreed to drive climate change action across their portfolios. Sustainable finance has, therefore, become an integral part of how many financial services firms operate.
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