Matteo Marinelli

#SamvadaArticle COP29 in Baku: Key Issues and Controversies at the Climate Summit writes Ayush Pal Focus on Finance: COP29, dubbed the “Finance COP,” highlights the need for stronger climate finance mechanisms, including the NCQG and Loss and Damage Fund, to support vulnerable nations. Implementation vs. Pledges: The summit underscores the gap between pledges and action, stressing the need for countries to honor commitments, as exemplified by India’s adherence to the Paris Agreement. Controversy in Leadership: Appointing an oil executive as CEO of COP29 has sparked criticism, questioning the authenticity of climate commitments Read more: https://lnkd.in/gErJ3R5F

1

🌿 Biodiversity Credit Alliance (BCA) released the second issue paper on "Review Mechanisms for Supply-side Quality and Integrity in the Biodiversity Credit Market": https://lnkd.in/dnSHmaKr Manesh Lacoul, Global Coordinator, Biodiversity Credit Alliance, shares his insights: "BCA is about to publish its second issue paper, which delineates the process of developing an independent review mechanism for the emerging biodiversity credit market. BCA work streams are initiated to address the need for equity, quality and integrity early on in the development of the biodiversity credit market to help lay a foundation for its long-term sustainability and success.    Only with strong foundations will the market contribute effectively to global biodiversity conservation goals while upholding ethical standards and promoting social equity as outlined in the Kunming-Montreal Global Biodiversity Framework.   BCA is aligning its efforts to provide ongoing guidance in the direction illustrated in this paper, mobilizing partners and engaging in a broad stakeholder consultation process to establish this key component of the market governance framework.   BCA is also currently in its final preparations for the release of its third issue paper “Definition of a Biodiversity Credit”. Learn more: https://lnkd.in/dx_rniZA #biodiversity #biodiversitycredits #BCA #supply #integrity

24

📣 We are excited to become a Taskforce on Nature-related Financial Disclosures (TNFD) Forum member, joining leading market players, regulators and governments, including the G7 Finance Ministers, G20 Environment Ministers, and the Network for Greening the Financial System (NGFS). 🤝 The TNFD Forum is a consultative grouping of institutional supporters who share the vision and mission of the TNFD and contribute to the work and mission of the Taskforce. 🚀 Action for nature-positive transitions could generate up to US$10.1 trillion in annual business value by 2030, but we urgently need a consistent market-led, risk framework to identify, report on and manage nature-related risks and opportunities. 👉 We're looking forward to participating in the vital task of making nature a cornerstone of business decisions. 🌿 You can catch up with our work on nature here: https://lnkd.in/ehMJ27vM

16

#LCAW2024 l Today, CPI Director Dharshan Wignarajah will join Devex's Climate+Finance event to discuss how to scale finance to build resilience and achieve a sustainable future. Watch here ➡ https://lnkd.in/gVEH7bGx

22

ALIGNING CATALYTIC INVESTMENTS FOR IMPACT UNDP Fullerton Fund Management The convergence of development goals and investment strategies can catalyze systemic change in Asia by aligning financial resources with sustainable development objectives. 1. Alignment of Incentives: By aligning investment strategies with development goals, Private Equity (PE) investors can direct capital towards projects and initiatives that contribute to both financial returns and sustainable development outcomes. ensures that investments support LT social and environmental objectives. 2. Scalability & Impact: When development goals and investment strategies converge, there is an opportunity to scale up sustainable solutions and initiatives. PE investors can leverage their resources and expertise to enable impactful projects that address key challenges, such as climate change mitigation & adaptation. 3. The convergence of development goals and investment strategies encourages ecosystem innovation and collaboration. Working towards common objectives, including climate action and sustainable development, investors, govts, and civil society can drive systemic change for growth and progress. 4. PE investors can use their influence and resources to advocate policies and regulations that advance sustainable development goals. By engaging with policymakers and advocating for climate-friendly policies, investors can create an enabling environment for sustainable investments in the region. 5. Investing in projects that align with development goals #sdgs can create LT value for both investors and society. By focusing on sustainable development outcomes, PE investors can contribute to building resilient and inclusive economies. Sustainability Due Diligence (DD) is a critical process in PE investments that involves assessing and managing ESG risks and opportunities: 1. Sustainability DD begins with evaluating the sustainability performance. involves identifying and analyzing material ESG aspects across the firm's operations, supply chain, and relationships. 2. During DD, specific environmental and social topics that are material to the target firm are identified ie emissions, water usage, labor practices, community relations, diversity and inclusion initiatives. 3. Sustainability DD involves evaluating how the target firm's specific business activities impact the environment and society. 4. Review of DD process includes a review of firm's policies and procedures related to sustainability mgmt. 5. Investors also evaluate how the target firm manages its environmental and social impacts. includes reviewing the firm's operational controls, procedures, and mgmt systems for addressing sustainability issues. 6. Findings from sustainability DD are integrated into the overall investment decision-making process. insights gained from the DD process are used to assess the potential impact of ESG factors. Sunita Rajakumar Johan Raslan Gary Theseira

39

3 Comments

📢 Our latest report with Recourse and Inclusive Development International just launched, exposing how the IFC - International Finance Corporation financial intermediaries fund captive coal projects in Indonesia. This research marks a crucial point in global climate action, underscoring the MDBs' role in redirecting finance away from harmful activities. As the world pursues sustainability, it's clear that backing coal, especially captive projects, conflicts with carbon neutrality and sustainable development goals.🔍🌍 Three MDBs, The World Bank Asian Development Bank (ADB) and Asian Infrastructure Investment Bank (AIIB) still backing fossil fuel projects, and going against global carbon reduction goals, maintaining reliance on non-renewable resources. Our report proposes practical steps to improve MDB policies on 'captive' coal financing. These include enhancing transparency, accountability, and a gradual divestment from coal projects. By implementing these recommendations, MDBs can pioneer the global energy transition and support the goals of the Paris Agreement. IFC - International Finance Corporation and The World Bank must urgently close policy loopholes to end finance for all forms of coal power.⚠️⚡ More here👉 https://lnkd.in/g8wdaNtB

14

1 Comment

Sayuri Shirai, one of our columnists will be participating in a side event at the Asian Development Bank (ADB) annual meeting.  The main theme of this event is ‘Mobilizing #Climate_Financing and Ensuring #Financial_Stability - How Can Asia Pacific Respond to Climate Finance Risks?“ For more information about the event, you can refer to details provided on the ADB website.  #HIC #HeraldInsightCollection #SayuriShirai #ADB #AsianDevelopmentBank

1

🔊At ANDE East and Southeast Asia we are excited to present “Expanding Opportunity: A Guide to Impact Investing in Southeast Asia”, our latest tool to help you understand the world of impact investing in South East Asia better! Impact investing is crucial for addressing social and environmental inequities but remains underutilized in Southeast Asia. 🖇️To bridge this gap, we partnered with TrustLaw, the Thomson Reuters Foundation's global pro bono service, to enhance understanding of local impact investing regulations in 7 different countries in Southeast Asia. With this guide we aim to assist social enterprises, incubators, and investors in navigating local regulations and fostering greater investment in regional startups and their social missions! Read the resource here: https://lnkd.in/gU99YMtJ #impact #ImpactInvesting #SouthEastAsia #ANDE2024 #Investment

11

1 Comment

ADFIAP engages in SAFIN Asia Regional Convening to boost agriculture finance in Asia Siem Reap, Cambodia – August 7, 2024: The Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) actively participated in the Smallholder and Agri-SME Finance and Investment Network (SAFIN) Asia Regional Convening with the theme “Accelerating Access to Agriculture Finance in Asia.” The event took place in Siem Reap, Cambodia, coinciding with the sidelines of the Asia-Pacific Rural and Agricultural Credit Association’s (APRACA) Regional Forum. ADFIAP, a key player in sustainable development finance, was represented by its Secretary General, Mr. Enrique Florencio, and Membership/ADFIAP Institute Group Head, Ms. Sandra Honrado. During the session, Mr. Florencio took the stage to share ADFIAP’s groundbreaking initiatives aimed at bolstering climate resiliency and promoting a green lending scheme and appropriate technology within the agriculture finance sector. Through these innovative programs, ADFIAP aims to address the pressing challenges farmers and agricultural SMEs face in the region, particularly in the wake of climate change and environmental degradation. Mr. Florencio emphasized the importance of creating sustainable financial mechanisms that support the growth of the agriculture sector and contribute to mitigating the adverse impacts of climate change. By integrating climate resiliency measures and green financing principles into their lending practices, ADFIAP seeks to foster a more environmentally sustainable and economically viable agriculture ecosystem across Asia. The SAFIN Asia Regional Convening provided a platform for ADFIAP to showcase its commitment to advancing sustainable development goals through inclusive finance and responsible lending practices. As the discussions at the event unfolded, it became evident that ADFIAP’s initiatives are poised to make a significant impact on transforming the agriculture finance sector in Asia, paving the way for a more resilient and sustainable future for all stakeholders involved. ADFIAP’s active participation in the SAFIN Asia Regional Convening reaffirms its leadership in promoting sustainable finance solutions for agriculture development in the region. By spearheading innovative initiatives and forging strategic partnerships, ADFIAP is poised to drive positive change and accelerate access to agriculture finance, ultimately contributing to the achievement of inclusive and sustainable growth in Asia and beyond. https://lnkd.in/g_eYi2gQ

15

2 Comments

A recent report by CDP highlights a pressing challenge for Asia: the region's rich biodiversity is under threat, potentially impacting up to two-thirds of its GDP. While public funding for nature-based solutions (NbS) currently stands at $165 billion annually, this falls significantly short of the estimated $737 billion needed each year to meet climate and biodiversity targets. Alarmingly, $5 trillion continues to flow into nature-negative sectors, creating a substantial opportunity for the private sector to redirect investments toward protecting nature. 💸🌍 As the urgency to address climate change and biodiversity loss escalates, collaboration between public and private sectors will be essential for creating a sustainable future. At the SCeNe Coalition, we seek to empower local frontline organisations in Southeast Asia with the tools and resources necessary to scale up NbS effectively. By equipping these organisations, we can demonstrate the viability and impact of high-quality, triple-benefit NbS projects, making them more attractive to private investors. 🌱 🌍 Now is the time for the private sector to act. By redirecting capital into nature-positive projects, we can turn the tide on biodiversity loss and climate change while safeguarding the very ecosystems that economies rely on. 🔗 To dive deeper into these insights and explore solutions, read the full report here: https://www.cdp.net/en #Biodiversity #NatureBasedSolutions #SustainableFinance #SCeNeCoalition #ClimateAction #Asia #PrivateSector #ESG

6

ASEAN Taxonomy for Sustainable Finance - Foundation Framework Use Cases for SMEs The ASEAN Taxonomy Board (ATB) is pleased to announce the release of a Supplementary Document to the ASEAN Taxonomy for Sustainable Finance (ASEAN Taxonomy). This important addition provides practical use cases for the Foundation Framework, specifically designed to assist small to medium sized enterprises (SMEs).   The Supplementary Document aims to guide SMEs in implementing the Foundation Framework by offering clear and actionable examples to assess activities in the agriculture and renewable energy sectors. The use cases provided are intended to serve as a guide and can be adjusted to fit the specific context of the user’s circumstances, where applicable.   This Supplementary Document is meant to be read in conjunction with the ASEAN Taxonomy main document. The use cases can be found here: https://lnkd.in/g3fVnajr

86

2 Comments

IFC - International Finance Corporation has put climate at the center of its work. However, a report by its watchdog, CAO, finds that it needs to update its policies that measure and mitigate emissions and also better implement them. @Adva Saldinger reports. #climate #emissions

2

🌍 Urgent Action Needed on Climate Change 🌍 Siddharth Tiwari, vice-chairman of the International Finance Forum (IFF), highlights the need for a coordinated global approach to combat climate change. He emphasizes the importance of private sector involvement and reforms in financial systems to mobilize the necessary funding. Read more about the challenges and solutions in his insightful article on China Daily👉 https://lnkd.in/gw4gXkbv #ClimateChange #GlobalCooperation #SustainableFuture #IFF

3

In a new joint report, Inclusive Development International, Recourse and Trend Asia expose the IFC - International Finance Corporation's role in bankrolling new coal development in Indonesia, despite its commitment to end coal financing and align with global efforts to phase out fossil fuels. The report focuses on how IFC’s financial intermediaries are backing development of "captive" coal plants (i.e., plants that exclusively serve industrial facilities, rather than providing energy to the grid). "Captive" coal is often used to power the processing of metals used in electric vehicles, but no coal plants or projects powered by coal plants can be called green and they shouldn't be getting support from the World Bank or any institution that is committed to sustainable development. As Inclusive Development International’s David Pred says, “Captive coal power is still coal power, whatever it’s used for, and comes with the same human and environmental costs." We urge the IFC and The World Bank to close the policy loopholes that allow their intermediaries to finance coal power and increase the transparency surrounding indirect lending. https://lnkd.in/gPPT9EbU

5

Why Biodiversity is Mainstream for Financial Services Now Join #FinextraTV as Anita de Horde, Co-Founder and Executive Director of Finance for Biodiversity Foundation, discusses #COP16 in comparison to the momentum gained after #COP15, which was the first #biodiversity conference that saw hundreds of #financialservices professionals attending and in turn, showcasing how influential biodiversity is becoming when industries consider #standards, measurements, and solutions. The conversation also covered some of the failures from COP16, where funding that is being sought to address #nature issues could not be agreed between the Global North and the Global South, and resource mobilisation and strategy also remained unfortunately stagnant. https://lnkd.in/etJN_7tQ Richard Peers ResponsibleRisk Ltd #SFLive #SustainableFinance #sustainability #SDG #ESG #risk #finance #assets #naturerisk #biodiversityrisk #sustainable #investment #naturefinance #banking #financialinstitutions #reporting #disclosure #regulation #compliance #funds #assetmanagement #data #analytics #government #conservation #policy #climateresilience #collaboration #innovation #natureimpact #climatechange #climaterisk

6

A lot of experimentation is taking place to offer solutions for climate-related and other issues, but they need to be scaled up, a senior executive from the multilateral development bank Asian Development Bank (ADB) told AsianInvestor. #climatechange #climatefinance #esg #sustainability

1

Asia-Pacific Climate Report 2024: Catalyzing Finance and Policy Solutions The Asian Development Bank’s latest publication provides a comprehensive analysis of climate challenges and opportunities in one of the world’s most climate-vulnerable yet economically dynamic regions. Here are some critical insights: • Rising Urgency for Climate Action: Current policies risk global warming up to 3°C this century. Developing Asia contributes significantly to emissions, yet is also a hub for transformative low-carbon solutions. • Adaptation Needs: With climate impacts like severe floods and typhoons escalating, effective and inclusive adaptation is crucial. Investments in resilient infrastructure could mitigate losses and protect vulnerable communities. • Scaling Up Climate Finance: A $431 billion annual investment gap in adaptation needs to be bridged. Mobilizing private capital, coupled with comprehensive policies like carbon pricing and market reforms, is key. • Policy Recommendations: Implementing carbon taxation, leveraging international carbon markets, and removing fossil fuel subsidies can drive emissions reduction while creating economic opportunities. • Economic Impacts: Without stronger action, climate change could shrink GDP in Asia-Pacific by 17% by 2070, disproportionately affecting the poorest. The time to act is now! The report encourages a transition to green energy, enhanced market frameworks, and holistic development plans to foster a sustainable and equitable future. Read the full report for in-depth analysis and actionable strategies! Asian Development Bank (ADB) #ClimateAction #Sustainability #AsiaPacific #FinanceForClimate #Adaptation #PolicySolutions #LowCarbonFuture #RenewableEnergy #InclusiveGrowth #ADB #ClimateFinance

6

🌏🚨 📗 The Asia-Pacific Climate Report 2024 by Asian Development Bank (ADB) highlights four key areas to address climate change effectively: 1.    Evolving climate risks across Asia and the Pacific 2.    Urgent need to accelerate climate change adaptation 3.    Scaling up private sector climate financing 4.    Implementing carbon pricing for cost-effective mitigation These strategies are crucial for a sustainable, resilient future! Explore to read 👇 https://lnkd.in/g_5heHV9 #ClimateChange #Climate Action #Report #Resource #HealthSystemsMatter 

2