United Nations Environment Programme Finance Initiative (UNEP FI)

As we close the chapter on 2024, the persistent impacts of climate change, nature loss and pollution and widening social and economic inequalities continue to highlight the urgent need for decisive action and to plug the gap in financing for #sustainabledevelopment. This year, UNEP FI and its members have risen to these challenges with an impressive array of initiatives, producing 80 research and guidance papers and driving high-level engagement through tools and forums such as the revamped #HumanRights Tool and the Forum for Insurance Transition to #NetZero (FIT). Our membership has expanded significantly, now encompassing more than 550 banks and insurers collectively representing over $125 trillion in assets. To find out more about the accomplishments of the largest UN-convened network, read our 2024 summary here: https://ow.ly/qtO350Uu443

As 2024 comes to a close, we look forward to amplifying #sustainableinsurance on the road to the 2025 UN Climate Conference #COP30 in Brazil. Brazil has a special place and role in the global agenda of sustainable insurance. At COP29 Azerbaijan, at the launch of the first global guide on transition plans for insurers produced by the UN Forum for Insurance Transition to Net Zero #FIT (see: https://lnkd.in/gV2C-F-F), Dyogo Oliveira, President of the Brazilian Insurance Confederation (CNseg - Confederação Nacional das Seguradoras), made important announcements: First, CNseg has become the first "FIT Supporter" in the world, a new category applicable to insurance associations. This builds on the membership of the Brazilian Superintendence of Private Insurance (SUSEP - Superintendência de Seguros Privados) in the FIT Consultative Group of Insurance Regulators & Supervisors. Second, CNseg will build a #HouseOfInsurance ("Casa do Seguro") at COP30. This will be the main platform to feature how the insurance industry—as risk managers, risk carriers and investors—can accelerate and scale up climate and nature action, and social and financial inclusion to build resilience and support a just transition. COP29 was an opportunity for the UN Environment Programme and CNseg to strengthen their long-standing partnership: In 2012, the UN Principles for Sustainable Insurance #PSI were born on the shores of Ipanema and Copacabana during the 2012 UN Conference on Sustainable Development (Rio+20). Rio+20 marked the 20th anniversary of the 1992 #RioEarthSummit, which produced the UN Framework Convention on Climate Change #UNFCCC, UN Convention on Biological Diversity #CBD and UN Convention to Combat Desertification #UNCCD. The 2012 PSI launch event was co-hosted by the International Insurance Society and CNseg, both founding PSI Supporters. Since then, the PSI became the largest collaboration between the UN and global insurance industry. In 2018, Brazil became the world’s first insurance market to commit to climate risk transparency. Latin America’s largest insurance market declared its support for the recommendations of the FSB Task Force on Climate-related Financial Disclosures (TCFD). See: https://lnkd.in/dnEM8e68 In 2023, the meeting between UNEP and CNseg at COP28 UAE led to the creation of a Brazilian Sustainable Insurance Roadmap, which Dyogo launched at the inaugural Global Sustainable Insurance Summit convened by the California Insurance Commissioner in April 2024. See: https://lnkd.in/drdRRUA3 We look forward to extending our full support to the Brazilian insurance industry and to making the “House of Insurance” at COP30 a symbol of inclusiveness, collaboration, resilience, sustainability—and hope. United Nations Environment Programme Finance Initiative (UNEP FI) #SustainableInsurance #NetZeroInsurance #InsuranceForNaturePositive #InclusiveInsurance

🎊United Nations Environment Programme Finance Initiative (UNEP FI) Joins the #WEFinanceCode as a Global Signatory🎊 UNEP FI is a global partnership bringing together the United Nations with over 500 banks, insurers and investors - representing more than USD $170 trillion - working to catalyse action across the financial system to support the transition to more sustainable and #inclusiveeconomies worldwide. Already demonstrating their commitment to the WE Finance Code, UNEP FI featured the Code in their 🌟just released🌟 co-authored guidance with UN Women, "Advancing #GenderEquality and Women’s Empowerment: Target Setting Guidance for Banks." The new guidance provides clear, actionable steps for banks to prioritise women’s empowerment in the workplace, marketplace, and community to close the #gendergap. ➡️ Click here to learn more about how UNEP FI members are driving real change towards #genderequality by building a more equitable and resilient financial system for #womenentrepreneurs: https://lnkd.in/etkYi76d 🙌 And please join us in welcoming UNEP FI to the WE Finance Code Community🙌

We’re pleased to announce that the photos and recordings of the livestream from #GRT2024 are now live! Relive the highlights of the event and catch up on any sessions you may have missed here: https://lnkd.in/ehzXPT-q    A heartfelt thank you to everyone who participated, both in-person and online.    We also want to once again recognize our generous sponsors: Gold sponsor S&P Global; Silver sponsors Access Bank Plc, Sun Life, and Societe Generale; and Bronze sponsors The Texel Group, Beneva, Siemens Financial Services, SAP Fioneer, Frontiers Research Foundation, MSCI Inc., and FSD Africa, as well as our partners Building Bridges.   See you at next year’s #RRT2025! 

Thank you to Deloitte for hosting a timely event, "#TransitionPlans: A strategic step for the financial sector". I presented the “Closing the Gap” report—the first global guide on transition plans for insurers—produced by the UN Forum for Insurance Transition to Net Zero #FIT. The report was launched at COP29 Azerbaijan (download the report: https://lnkd.in/g-SAYw9z). I also had the opportunity to speak about the “Insuring a Resilient #NaturePositive Future” report—the first global guide for insurers to set priority actions for nature—produced by the UN Principles for Sustainable Insurance #PSI (download the report: https://lnkd.in/dkyvs923). The full report of this nature guide, which was launched at the recent United Nations Environment Programme Finance Initiative (UNEP FI) Global Roundtable in Geneva #GRT2024, is another practical resource to help insurers develop credible transition plans. Other presenters included #PatrickAmis of the European Central Bank, who spoke about #CRD6 (new EU Capital Requirements Directive) in the context of transition plans for climate risk; and Mathieu Garnero of ADEME (French Agency for Ecological Transition), who's part of the transition plan working group of the Autorité des marchés financiers (AMF) – France (French Financial Markets Authority), who spoke about an educational guide on climate transition plan reporting. The presentations were followed by a panel discussion involving French financial institutions: Michele Lacroix of SCOR, Zineb TAZI of La Banque Postale and ELODIE BRESSAUD of Confédération Nationale du Crédit Mutuel. It was a rich discussion on an important topic that did justice to the beautiful and elegant setting of the famous Ritz Hotel in Paris. In 2025, the FIT will continue to work on the next deliverables of its Transition Plan Project in order to turn ambition into action. It will develop deep-dive guidance for underwriting portfolios, then it will produce the project's final deliverable—holistic transition plan guidance that provides a "total balance sheet" view—linking the #underwriting and #investment portfolios of insurance companies. Stay tuned for developments. Thank you to Deloitte colleagues: Mohamed Benlaribi / Nicolas de Jenlis / Michel Guidoux / Kim Nguyen-Huu / Bérengère Pluchart / Eva Balcou #SustainableInsurance #NetZeroInsurance #InsuranceForNaturePositive #InclusiveInsurance

Welcome MAAGAP Insurance as a signatory to the UN Principles for Sustainable Insurance, the largest global initiative between the UN and the insurance industry. #sustainableinsurance unepfi.org/psi

#InternshipOpportunity: UNEP FI is seeking an intern to join our Global Policy Team. This is an exciting opportunity for a motivated final-year university student, graduate student, or recent graduate to support the team through research on sustainable financial regulation topics like climate risk integration, green taxonomies, and corporate sustainability disclosures, and to contribute to policy briefs and technical assistance projects. The intern will also assist with administrative and project management tasks, including event preparation, stakeholder coordination, funding opportunity research and applications, and communications support across UNEP FI teams. This position is remote; candidates in the Asia-Pacific region are particularly encouraged to apply. Learn more and apply by 5 January: https://ow.ly/epkG50Usz9T

Do you still have questions about what was decided at #COP29? Are you wondering what the #climate developments from 2024 mean for the financial sector? If so, join leading experts from the UNEP Copenhagen Climate Centre and UNEP FI to unpack critical discussions from COP29, including the evolving role of #CarbonMarkets. You will also gain a better understanding of where the world stands in achieving the #ParisAgreement goals. Speakers: Jesica Andrews, Head of Climate Accountability and Climate Co-Lead, UNEP FI John Christensen, Director, UNEP Copenhagen Climate Centre Remco Fischer, Climate Co-Lead, UNEP FI Abhishek Kaushik, Senior Advisor (Climate and Carbon Markets), UNEP Copenhagen Climate Centre Register here: https://ow.ly/xKv150UrHzx #SustainableFinance

Today, UNEP FI hosted its fourth #LeadershipCouncil, bringing together CEOs and chairpersons from banks and insurers to address the most pressing challenges in #SustainableFinance. Financial institutions are at the forefront of ensuring that the trillions of dollars needed on average each year before 2030 is reached in order to remain below the 1.5°C scenario. However, this requires clear, consistent policy and national transition plans that align with sector-specific decarbonisation pathways. At this critical juncture, UNEP FI helps members to navigate the complexities of evolving regulations by offering robust guidance and vital resources. By proactively shaping the agenda and encouraging collaboration across sectors, the council of leaders acts as a reminder of the indispensable role the financial sector plays in creating a #JustTransition to a sustainable and resilient future. Learn more about the work of the Leadership Council and UNEP FI members here: https://ow.ly/ujsL50UpRRm

Do you still have questions about what was decided at #COP29? Are you wondering what the #climate developments from 2024 mean for the financial sector? If so, join leading experts from the UNEP Copenhagen Climate Centre and UNEP FI to unpack critical discussions from COP29, including the evolving role of #CarbonMarkets. You will also gain a better understanding of where the world stands in achieving the #ParisAgreement goals. Speakers: Jesica Andrews, Head of Climate Accountability and Climate Co-Lead, UNEP FI John Christensen, Director, UNEP Copenhagen Climate Centre Remco Fischer, Climate Co-Lead, UNEP FI Abhishek Kaushik, Senior Advisor (Climate and Carbon Markets), UNEP Copenhagen Climate Centre Register here: https://ow.ly/xKv150UrHzx #SustainableFinance