The last month of the year, December 2022, brings two very important news to highlight and from Eter we want to comment on them:
Since the growth of climate change, multiple extreme events are occurring that were not occurring before, causing in the insurance sector a big problem. The cost of catastrophes in Spain alone amounted to 3,600 million euros in 2021, being 1,200 million insured assets. This meant that indemnities amounted to a total of 2.32 billion euros. For this reason, insurers are currently analyzing how to measure and estimate the premium according to the effects of climate change to optimize their capital and are responsible for many initiatives related to ESG.
Finally, as news to note is that the Australian government launched a consultation on the development of a climate risk disclosure framework for companies and financial institutions, with plans to make the reporting standards mandatory for large entities. The consultation envisages implementation of the standards from 2024 in recognition of existing climate change risk. This consultation also seeks to analyze the costs and benefits of aligning with other countries that already have standards related to climate change such as the EU and the US.
Links:
https://www.eleconomista.es/actualidad/noticias/12072428/12/22/El-cambio-climatico-un-quebradero-de-cabeza-para-el-sector-asegurador.html
https://www.esgtoday.com/australia-plans-mandatory-climate-reporting-for-companies/
On the one hand, the Swiss federal government finalizes the first inaugural issuance of $776 million in green bonds, these bonds are part of the 2050 zero emissions target and have been mainly split into two tranches of CHF 4.3 million in transportation and CHF 900 million in agriculture.
It was also announced this October that impact investment assets under management worldwide have reached $1.164 trillion, according to the estimate of a new report by the The Global Impact Investing Network Network (GIIN), surpassing the $1 trillion mark for the first time.
In addition, Macquarie Group Asset Management is funding Italian operator @Green Bidco Spa with $100 million through its Green Investment Group (GIG) investment platform. This acquisition reinforces Macquarie Asset Management’s commitment to manage its portfolio in line with the net zero target by 2040.
In this line Macquaire has acquired 140GWh through its investment in r.e. This moves positions it strongly in the European and global market. In the biofuel and Biomass business.
As last news to highlight, Ørsted and WWF join forces to ensure Biodiversity in the marine environments where Ørsted is developing its offshore projects.
Link
https://www.esgtoday.com/switzerland-issues-inaugural-766-million-green-bond/
https://www.esgtoday.com/impact-investing-passes-1-trillion-for-first-time-report/