1) The Taskforce on Nature-related Financial Disclosures (TNFD) is developing a framework that businesses and financial institutions can use to take into account the opportunities and dangers associated with nature.
The World Economic Forum has named biodiversity loss as one of the most serious global hazards in recent years, and there is growing recognition that financial reporting frameworks need to assign biodiversity a value that has not previously been done so.
2) A new Sustainable Funding Framework was introduced by Swedbank. Updated from the 2017 Green Bond Framework, the new framework further broadens the scope to include social activities and will help Swedbank issue green, social, and sustainability bonds that support the UN Sustainable Development Goals and Swedbanks’ vision towards netzero. The framework is in accordance with the Sustainability Bond Guidelines 2021, Social Bond Principles 2021, and ICMA Green Bond Principles 2021.
3) Six of the biggest banks in the US – Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley, and Wells Fargo will take part in a trial climate scenario analysis exercise, according to the Federal Reserve Board, which aims to improve supervisors’ and businesses’ capacity to assess and manage financial risks associated with climate change.
The Fed will next review the findings and collaborate with participants to enhance their financial risk management related to climate change.
4) According to recent research, European pension funds do not appear to be actively participating in emerging efforts by EU and UK policymakers to develop sustainable and climate finance-related policy. A number of business organisations that represent the pensions industry are hesitant or opposed to adopting policy.
In accordance with the Paris Agreement, the UN-convened Net-Zero Asset Owner Alliance was established; however, only 4 of the 25 funds and 5 of the 10 national organisations, according to InfluenceMap, have demonstrated considerable engagement with sustainable finance policy.
5) On Sep 26, the market leader in carbon management , Sweep , launched its cutting-edge solution available for financial institutions to get a complete, real-time picture of investment emissions and work with portfolio firms on decreasing their climate impact.
With this tech solution, asset managers and financial institutions would be able to precisely monitor their investments’ carbon footprint, and increase cooperation among all links in the value chain by making it easier for businesses to exchange carbon data.