We need to reboot the financial system and rethink old structures. This is what the OECD, the World Bank Group and the UN Environment Programme are calling for in their new joint report. Sustainable finance should become mainstream, but the market is still lagging far behind. EURACTIV Germany reports.
Investors are clear, as global leaders in addressing climate change, it is vital for the EU to send strong, long-term signals about how it will fulfil – and indeed, step up – its commitment to meeting the goals of the...
Norway’s $1tn oil fund, the world’s largest sovereign wealth fund, is to plunge billions of dollars into wind and solar power projects. The decision follows Saudi Arabia’s oil fund selling off its last oil and gas assets. EURACTIV's media partner, The Guardian, reports.
Debate over the cost merits of fossil fuels against renewable power generation has traditionally focused on the levelised cost of electricity (LCOE), which has dropped dramatically in the case of wind and solar power. But that ignores the upfront capital costs, which are still up to seven times higher for renewables, writes Mike Parr.
In the last five years, the European Investment Bank (EIB) provided over €50 billion in clean energy investments in Europe and around the world. As a new cycle opens, Andrew McDowell explains the key principles that will underpin the EIB’s future lending policy.
There is a big risk that the European Commission’s proposals on sustainable finance will be watered down when EU member states examine the draft legislation, warn Lis Cunha, Sebastien Godinot and Rachel Owens.
EU institutions still have time for a series of concrete actions to strengthen climate policy before their mandate ends and get their successors off to a flying start, write Sanjeev Kumar and Edward Robinson.
France and Germany will cement their historic post-war reconciliation with the signing of a new Elysée treaty on Tuesday (22 January). But the draft text, seen by EURACTIV, no longer mentions carbon pricing among new bilateral initiatives.
Nations across the globe should step up preparations against global risks such as climate change and cyber attacks, EU officials say, as these areas remain the most pressing for global experts surveyed ahead of this year's World Economic Forum (WEF) taking place in Davos next week.
While the assessment of financial risks caused by climate change – like floods and storms – is becoming more widespread in the financial community, the evaluation of broader environmental risks like deforestation or ocean pollution is still a major blank spot for bankers.
As the COP24 drew to a close last weekend, it was hard not be concerned by the political rifts the process has revealed, notably regarding the IPCC’s 1.5C report. But in the real economy there are clear reasons for optimism, writes Nicolette Bartlett.
The climate targets of the EU and UN have moved sustainable financing to the top of the agenda of the finance industry. This means banks and investors are called upon to provide green incentives and become more involved in saving the planet, writes Karl Ludwig Brockmann.
In a world already impacted by climate change, the global community still falls short of meeting the Paris Agreement’s goal on curbing climate change under the well-below 2°C target. Countries gathered at the COP24 will have to roadmap how to shift trillions of euros to turn the economy from brown to green.
According to the Intergovernmental Panel on Climate Change (IPCC) Special Report on Global Warming of 1.5ºC (SR15), an additional 1.5% in global investment is needed to limit the global average temperature rise to 1.5°C above pre-industrial levels. Yet, if already...
Oil majors are “lagging” when it comes to preparing for the low-carbon energy transition, according to a new report from financial watchdog CDP, which nonetheless praised BP, Eni, Equinor, Total, Repsol and Shell for taking the industry’s lead.
Whether humankind fails or succeeds in keeping the rise in global temperatures within manageable levels, central banks will sooner or later be called upon to act, said Benoît Cœuré, a member of the European Central Bank's (ECB) Executive Board.
The EU's next multi-annual budget (2021-2027) should dedicate 40% of spending to the low-carbon economy and high-quality jobs, said Rudy de Leeuw, a delegate at the European Economic and Social Committee (EESC), an EU advisory body.
The new Corporate Reporting Dialogue project will work on aligning international standards with the recommendations published by the Task Force on Climate-related Financial Disclosure in a bid to improve and harmonise reporting on sustainability standards, the group announced Wednesday (7 November).