Vanina Farber

#SustainableDevelopment, in its three dimensions, has become the imperative goal for us as agents of change. The #Agenda2030 and the #ParisAgreement guide the undeniable commitment that #PublicDevelopmentBanks play in achieving these #Sustainability goals. #SustainableFinance is not just a trend, but an ever-evolving movement, just as the club of #PublicDevelopmentBanks International Development Finance Club (IDFC) should be. This is its new image that reflects this transformation. This new image, which aligns with the colors of the #SDGs, represents regional proximity, cultural diversity, local realities, and, most importantly, the effort towards a common purpose: working for more sustainable finances in the three dimensions—social, economic, and environmental. Serge EKUE Nicolas Picchiottino Rémy Rioux TSKB | Türkiye Sınai Kalkınma Bankası West African Development Bank Bancoldex Agence Française de Développement #ReinventingIDFC #SGMIDFC2024 #IDFC #NewIdentity #GlobalDevelopment #Innovation #Sustainability #Collaboration #Inclusion #SGM #IDFCEvolution

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COP29 has given us a clear lesson: tensions and complexity are inherent to the climate challenge. The energy transition is a constantly evolving system, with opposing forces that need to be balanced. Solving this puzzle requires more than just funding or technological advances. It demands leadership, cooperation, and the ability to navigate a system where tensions—such as decarbonisation versus conservation, and efficiency versus climate justice—must be managed with balance. Energy is key, not only in its physical sense but also politically and socially, to succeed in this challenging endeavour and achieve a more ordered and sustainable future, transforming the challenge into an opportunity. Thank you, Expansión, for publishing this article 👉 https://lnkd.in/dVecXPaT #iechainofchange #fosteringpositivechange #climatechange Yolanda Regodón Poblador Juncal Sánchez Mendieta

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🌍 New Study: Unveiling Economic Resilience: Exploring the Impact of Financial Vulnerabilities on Economic Volatility through the Economic Vulnerability Index In the face of economic uncertainty and vulnerability, are we missing a critical piece of the puzzle? Our latest research reveals a significant gap in how we assess economic vulnerability through the economic vulnerability index (EVI)—one that could have profound implications for multinational organizations and policymakers globally. 🔎 Key Insight: While traditional models focus on economic and environmental factors in examining vulnerability, financial vulnerabilities play a crucial role in driving economic volatility and uncertainty, especially in low-income and lower-middle-income countries based on our study. Our study, covering 142 countries over two decades, shows that including financial vulnerability components within the economic vulnerability index propounded by the United Nations is vital for several reasons. One is because financial vulnerabilities improve the significant levels of the effect of economic vulnerability on economic volatility (meaning that including financial elements may help us showcase economic vulnerability in a greater light than what the EVI currently does). Second, the goodness-of-fit measures within the models are strengthened when financial vulnerabilities are included within the estimated models (meaning that including financial elements of vulnerabilities will better predict economic volatility and uncertainties globally). Finally, financial vulnerabilities are a leading indicator of economic volatility, underscoring their importance in vulnerability assessments. 💡 What this means: Existing vulnerability indices must be updated to fully capture the multi-dimensional nature of economic resilience. By incorporating financial elements, multinational organizations can better assess country risks and build more robust strategies for global stability, especially when giving out concessional funds to countries in need. 📢 Call to Action: It's time for multinational organizations and policymakers to rethink vulnerability frameworks. To achieve sustainable development and resilience, we must integrate financial factors into the Economic Vulnerability Index. Big thanks to my fellow co-authors Cleopatra Ibukun, Ph.D. Sodiq Arogundade, Ph.D. oluwadamilola oyadeyi and Mduduzi Biyase on this project. Read the full paper here: https://lnkd.in/ej3MfE-J #FinancialVulnerability #EconomicResilience #EconomicVolatility #EconomicVulnerability #EconomicVulnerabilityIndex #MultidimensionalVulnerabilityIndex #SustainableDevelopment #Policymaking #UnitedNations #UN #MultinationalOrganizations #UNOHRLLS #WorldBank #IMF #Commonwealth #CommonwealthSecretariat #UNDESA #UNECA #UNU #UNFPA #UNHR #UNDP #UNEP #UNOPS #CDB #AfDB #AsDB

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#Climate #Fintech 2024- Climate #FinTechs facilitate #climateaction, drive #decarbonization & receive record amounts in #VC #funding- Key insights from CommerzVentures ● In 2023, Climate FinTech #investments reached $2.3bn. This is 19% below the record levels seen in 2022 ● Compared to overall venture #funding (-38%), Climate FinTech investment volume held up well throughout 2023 ● #European Climate FinTechs raised 1.5x more VC funding in 3.3x more #financing rounds compared to the #US ● Despite the challenging #economic environment, many Climate FinTechs managed to attract first time funding, over 40% of all financing rounds are at Pre-Seed and Seed stage ● #CarbonMarkets and #EnergyManagement are the Climate FinTech sub-sectors that attracted the most funding in 2023, with $729m and $530m respectively #Carbon #energy #Investment #SDG #Finserv #ESG #Regulation #RegTech #climatechange Mike Flache Francesco Burelli Tony Moroney Panagiotis Kriaris Dr. Martha Boeckenfeld Prof. Dr. Ingrid Vasiliu-Feltes Spiros Margaris Alex Jimenez Nicolas Babin Nicolas Pinto Amitav Bhattacharjee Sam Boboev Enrico Molinari Dr. Khulood Almani🇸🇦 د.خلود المانع Martin Moeller Helen Yu Dr. Debashis Dutta https://lnkd.in/gmMbX5_y

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The #SDGs are severely off track - only 17% of the targets associated with the SDGs display sufficient progress, while 18% of the targets indicate stagnation and another 17% even regressed below the 2015 baseline. The climate goal (SDG 13) has even no target that is currently on track. Despite all the talk and public outreach around the SDG agenda (which made the SDGs different from the #MDGs), there is simply not enough investment. António Guterres brings this to the point: "We must reform the outdated, dysfunctional and unfair international financial architecture to facilitate far greater investment in the SDGs." The SDGs run for another 6 years... The UN has its major "Summit of the Future" in less than three weeks. What is needed are finally some bold and ambitious implementation actions, proper financing, and a better acknowledgement that the SDGs work as a system with trade-offs and synergies included. Read the 2024 SDG assessment: https://lnkd.in/dbDyd-2p (Note: This report assesses 135 out of 169 targets, as not all targets have global trend data available). #sustainability, #summitofthefuture

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Join us in Barcelona at Norrsken's Impact Week. Because we have to talk - urgently! After COP16 we have to step back and rethink how to fund nature and its stewards. All we know is that ◾The current funding approach is failing at a critical juncture ◾The maintenance and restoration of thriving ecosystems yields higher benefits than any other investment ◾The systemic risk that is accruing in our portfolios, balance sheets and budgets is at breaking point ◾Capital is stuck in stranded assets with no way out ◾Novel regenerative NatureFinTech, accounting approaches and contractual arrangements are at hand to change our realtionship with nature. Let's discuss how to turn this into a winning constellation. And how to move beyond the paralysis.

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Is "Innovative sources of finance" codeword for as little real financial support as possible from Global North countries at #COP29? We understand the inclusion of controversial instruments in the New Collective Quantified Goal on climate finance's latest draft (green bonds based on a taxonomy that is not aligned with IPCC findings, debt for nature swaps that transfer sovereignty over conservation decisions and free up little funding for conservation, not to mention the scandal-ridden carbon offset market) to aim at minimising cash financial support from Global North countries.

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We are rapidly approaching the deadline for the #ParisAgreement, yet progress remains far from sufficient. This year's COP will be crucial for shaping future discussions on #climateaction, particularly in the realm of finance. Especially the topics such as new climate finance goals, the current international financial framework, and strategies for designing Nationally Determined Contributions (#NDC) that facilitate investment in climate-resilient infrastructure. Having recently participated in the Petersberg Climate Dialogue (PCD), I had the privilege to shared Indonesia's perspective on how the Ministry of Finance can play a proactive role in supporting the development, financing, and implementation of NDCs. It is disheartening to note that only 29% of respondents in a 2021 survey conducted by Coalition of Finance Ministers for Climate Action reported actively contributing to NDC development in their countries. I shared the stage with other prominent speakers including, HE Svenja Schulze, HE Marina Silva (Minister of the Environment and Climate Change, Brazil), Amar Bhattacharya and Warren Evans. The discussion at the PCD also brought to light contrasting views on the responsibilities of developed versus developing countries in financing climate action. While emerging nations advocate for greater support from historical emitters, developed countries hold a different perspective on this crucial issue. I am proud to stand in solidarity with other developing nations in advocating for a fair and inclusive approach to designing the new climate finance goals. It is imperative that the specific needs and priorities of developing countries, such as the imperative for a #justtransition, are taken into consideration in these discussions. Addressing the $1.6 trillion investment gap required to shift from brown to green energy is essential for achieving sustainable growth and climate resilience. Indonesia is committed to leading by example in mobilizing transition financing through initiatives like the Just Energy Transition Partnership (JETP) and the Energy Transition Mechanism (ETM) Country Platform. Additionally, we are actively updating our Indonesia Taxonomy for Sustainable Financing and supporting the development of the ASEAN Taxonomy for Sustainable Finance Version 2 to promote transition activities. On a global scale, Indonesia is playing a significant role in various climate forums as the Co-chair of CFMCA and actively participating in the #G20 Sustainable Finance Working Group and G20 TF-CLIMA. As we navigate the complex challenges of #climatefinance, cooperation and collaboration among nations will be paramount in achieving our shared #climategoals.

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Let's talk about how to invest in systems change at #KFF24 - see you in Oslo!

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Curious about climate finance? This beginner-friendly guide breaks down: ✅ What it is and why it matters. ✅ How funds fight climate change. ✅ Challenges and solutions for a sustainable future. Proud to have contributed to this resource aimed at empowering action for a greener world. 📖 Access it here: https://ycfi.org/ #ClimateFinance #Sustainability #ClimateAction

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#COP16 The 16th UN Convention on Biological Diversity starts today in Cali, Colombia #COP16Colombia. So what is at stake? Read our study The Inclusion of Biodiversity into Environmental, Social, and Governance (ESG) Framework: A strategic integration of ecocentric extinction accounting https://lnkd.in/eCVeiZWK This study focuses on implementation mechanisms, inspired business initiatives, but also possible pitfalls following the Kunming-Montreal Global Biodiversity Framework #KMBGF Among the twenty-three targets to be achieved by 2030 include halving the introduction of invasive species, 30 per cent conservation of land and sea, and 30 per cent restoration of degraded ecosystems. #BuildBackBiodiversity #BiodiversityDay #AgreementToAction #30x30 #ActionDecade #Post2020 #PeaceWithNature UN Biodiversity CIFOR-ICRAF WWF WWF-UK UN Climate Change IUCN CEM- Forest Ecosystems IUCN IUCN Oceania IPBES Voices for Biodiversity Biodiversity Forum Biodiversity Challenge Biodiversity

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CDP’s 2024 questionnaire is aligned with IFRS S2. Congratulations International Sustainability Standards Board (ISSB) AND CDP for this alignment. The ISSB’s climate standard, IFRS S2, is now the foundational baseline for CDP’s climate disclosure. Thanks to the leadership of Sue Lloyd and Sherry Madera Asian Centre for Corporate Governance & Sustainability welcomes this yet another step in the direction of reaching a #GlobalBaseline in #SustainabilityReporting

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The extent of future climate change is (largely) a policy choice. "Climate policy curves highlight key mitigation choices," joint with Martin Hänsel, Michael Bauer, Moritz Drupp & Glenn Rudebusch, and 2+ years in the making, has found its forever home in Climate Policy. CPCs can elucidate the various uncertainties surrounding climate policies and crystalize the importance of comparing climate policy today with its future path. CPCs can serve as a model diagnostic and communication tool. CPCs are simple: price up, quantity of CO₂ demanded down. Works every time. https://gwagner.com/cpc

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At #COP16 #Biodiversity, I was touched by:  • the voices of indigenous peoples who are witnesses to the effects of climate change and the degradation of their ecosystems on their daily lives and who demand to be truly involved in the definition and implementation of projects impacting their livelihoods. Many thanks to the representatives of communities associated with the TerrIndigena project supported by the Fonds français pour l'environnement mondial (FFEM) and AFD - Agence Française de Développement with Gaia Amazonas Foundation and the Vital Reserves project supported by FFEM with Conservation International.  • The relentless findings of scientists based on alarming data about biodiversity collapse, ecosystem degradation, loss of connectivity, impact of pollution, etc. on land and at sea. Congratulations in particular to SANBI and its partners supported by the FFEM, AFD and the Office français de la biodiversité for mapping biodiversity in southern Africa. Congratulations to the young researchers associated with Fondation Tara Océan supported by FFEM and OFB for their research on the role of high seas ecosystems for climate regulation and for marine and coastal natural resources.  • the willingness and innovation of many actors, including civil society and the private sector, to develop pro-#Nature value chains. Thanks to the CIAT and KAOKA for a cocoa of excellence zero deforestation. Congratulations to Mighty Earth for this warning system to buyers and distributors of products from deforestation. Hats off to the bank BRDE to develop with the NGO SAVE Brasil a credit line for the herders of the pampa for cattle respectful of the natural meadow of this very threatened ecosystem!  • a fundamental movement that is gaining momentum in the financial sector to better take into account Nature. Banks (national, bilateral and multilateral) International Development Finance Club (IDFC) are mobilizing to mainstream biodiversity in their operations (like the BRDE mentioned above). Biodiversity finance has been at the forefront talking about "credits" (but, please, could we avoid this word in favor of "certificates" to make it clear that such tools should not be used for offset). And finally original actors such as conservation trust funds manage to aggregate various financial resources and innovative tools like parametric insurance implemented by MarFund (RedLAC member) for the preservation of Mesoamerican coral reefs in the Caribbean Sea. In front of these poignant testimonies, overwhelming scientific and technical observations, while some are mobilizing loudly and operationally, we can worry about the cleavage between some negotiating countries. Hopefully, this final day of negotiations will allow us to adopt a different mindset and seek the general interest rather than particular interests.

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The next round of discussions on the #NCQG got underway today in Baku. Here are a few things we expect negotiators, particularly those from developed countries, to keep in mind as we move closer to finalizing the goal at #COP29 - one that must meet the needs on the ground.👇

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A new word (at least for me): 𝐁𝐢𝐨𝐩𝐢𝐫𝐚𝐜𝐲 One of the topics at the #COP16 on biodiversity currently in Cali. 🧬 Biopiracy involves exploiting biological resources from indigenous communities without fair compensation. It’s an issue of justice, biodiversity, and sustainable development. Negotiators at the UN COP16 biodiversity summit in Colombia are debating a deal on payments for using digital sequence information (#DSI). This data, widely used in pharmaceuticals and agriculture, is collected by global academic researchers and shared through publicly funded, open-access databases. The biopiracy battlefield: 🟠 What it is: Companies and researchers sometimes patent traditional knowledge and resources, benefiting financially while excluding local communities. 🟠Proposed Solution: 🌱 A tax of 1% on profits from biopirated resources has been proposed to fund biodiversity conservation and support indigenous communities. 🟠Resistance: Corporations and institutions are pushing back, arguing it could discourage innovation and add financial burdens. I believe it’s ultimately a matter of fairness to pay a tax for using biodiversity resources 🌍💰. Yet, fairness often takes a backseat to power dynamics, leaving communities without their fair share. ⚖️ https://lnkd.in/eSaUvgwf

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🌍 𝐓𝐚𝐜𝐤𝐥𝐢𝐧𝐠 𝐁𝐢𝐠 𝐂𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐓𝐡𝐫𝐨𝐮𝐠𝐡 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬 🤝 As organizations take bold steps to address 𝒔𝒖𝒔𝒕𝒂𝒊𝒏𝒂𝒃𝒊𝒍𝒊𝒕𝒚, 𝑬𝑺𝑮 𝒑𝒓𝒊𝒐𝒓𝒊𝒕𝒊𝒆𝒔, 𝒕𝒉𝒆 𝑼𝑵 𝑺𝒖𝒔𝒕𝒂𝒊𝒏𝒂𝒃𝒍𝒆 𝑫𝒆𝒗𝒆𝒍𝒐𝒑𝒎𝒆𝒏𝒕 𝑮𝒐𝒂𝒍𝒔 (𝑺𝑫𝑮𝒔), and pressing global issues like biodiversity loss and climate change, one truth stands out: 𝐬𝐨𝐦𝐞 𝐜𝐡𝐚𝐥𝐥𝐞𝐧𝐠𝐞𝐬 𝐚𝐫𝐞 𝐭𝐨𝐨 𝐜𝐨𝐦𝐩𝐥𝐞𝐱 𝐭𝐨 𝐭𝐚𝐜𝐤𝐥𝐞 𝐚𝐥𝐨𝐧𝐞. 𝐓𝐡𝐢𝐬 𝐢𝐬 𝐰𝐡𝐞𝐫𝐞 𝐩𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩𝐬 𝐬𝐡𝐢𝐧𝐞. Collaboration allows us to pool resources, leverage diverse expertise, and drive innovative solutions that create meaningful, lasting impact. Whether it’s bridging gaps in financing, fostering innovation, or scaling solutions, partnerships amplify our ability to tackle what seem like insurmountable problems. At GCB Bank PLC, we believe in the power of partnerships to not just solve problems but to build a sustainable future together. Let's continue to collaborate, innovate, and drive change for a better world.

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The EU's Corporate Sustainability Reporting Directive (CSRD) will start to come into force for some companies this year, meaning 2025 reports on fiscal year 2024. The scope of coverage will expand through 2028 (when it covers non-EU companies) and eventually cover 50,000 companies. This is a very large number and the threshold is a fairly low one. For example, it will apply to non-EU companies with revenues >€150 million and either have a branch in the EU of >€ 40 million or have a “large” EU subsidiary, defined as one which meets two of the three criteria: (1) a balance sheet of >€25 million, revenues of >€50 million, and an average number of employees of 250. The core of the CSRD is "double materiality" which includes both "financial materiality" and "impact materiality." EFRAG's Sustainability Reporting Board (SRB) has published 12 standards. These standards are based on some 1,200 underlying data points. Not surprisingly, many companies are expressing concerns about the complexity of the CSRD and the costs they will incur to be in compliance, including the necessary assurance. They see the resources being devoted to reporting being taken away from activities that improve the sustainability performance of the company, and its contribution to creating a more sustainable world. Large investors have expressed skepticism about the value of the data the CSRD will make available to them. This discussion, while important, misses the main point which is that the CSRD is what it is due to its fundamental role in the EU Green Deal and EU Taxonomy. Thus, the CSRD cannot be changed in any fundamental way. While I am dubious that the Green Deal will enable the EU to accomplish the objectives for which it was created, as a government it has every right to determine its strategy for dealing with climate change. The question is whether it is appropriate for the EU to make this an extraterritoriality requirement for companies in other countries. This is the discussion we should be having, with other countries acknowledging the extraterritoriality requirements they place on EU companies.  https://lnkd.in/eskyzUw4

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