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Climate Change
Climate Change September 2022
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Back from the summer, the month of September 2022 returned with 7 news items to highlight.
On the one hand, Santander bank is committed to becoming a world leader in green finance by mobilizing 120 billion euros by 2025 and 220 billion euros by 2030. It is also promoting different initiatives as Green Investment, such as a carbon footprint calculator, an energy simulator to improve the efficiency of homes, a collaboration agreement to provide all its car leasing customers with cars and the recycling of its debit and credit cards in multiple other initiatives.
In southern Spain, the Malaga municipality of Ayuntamiento de Benalmadena launched a campaign to get its citizens to participate in climate change mitigation actions, raising awareness of this phenomenon. The same has happened in La Rioja, which has been working on the new climate change law that affects this region.
Carbon Collective, recently announced the launch of this exchange-traded fund, which benefits 200 companies in the sectors of clean energy, electric transportation, efficient buildings, circular economy, sustainable food,and industrial electrification.
This month the European Union once again highlighted the importance of climate change on the planet because it is a reality that is occurring, causing that in the future there may be conflicts even over water. This issue is not only being addressed by the European Union, but also by the USA and Canada.
Finally, based on data from the Climate Bonds Initiative (CBI), green bond emissions worldwide will reach 271,622 million dollars in 2022, but the important thing to note above all is that 8% of GDP will be needed to decarbonize the entire world economy, which means that companies and the public sector will have to invest a large amount of capital.

Links:
https://cronicaglobal.elespanol.com/global-content/banco-santander-acompana-clientes-transicion-economia-verde_722372_102.html
https://www.malagahoy.es/provincia/Benalmadena-participacion-plan-cambio-climatico_0_1724229477.html
https://aldianews.com/es/leadership/organizaciones/contra-el-cambio-climatico
https://www.ecoportal.net/paises/defensa-comun-europea/
https://www.abc.es/antropia/abci-negocio-cambio-climatico-20220915201303_noticia.html
https://www.europapress.es/epagro/noticia-andreu-afirma-ley-cambio-climatico-situa-rioja-vanguardia-materia-legislacion-medioambiental-20220907201154.html

Climate Change
Climate Change May 2022
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In the analysis of May 22, Eter analyse the sector that will affect us all at professional, personal and business level.
During the month of May 22 the European Union formulated two major advances in its climate change regulation, on the one hand, the ~European Commission formulated stricter rules for the future European Green Bond Standard to improve transparency and reduce greenwashing, aligning with the European taxonomy. On the other hand, EFRAG announced the initial draft for the sustainability reporting standard. This standard affects more than 50,000 companies compared to the 12,000 affected by the current standard. This report covers a broad set of ESG-related topics ranging from climate change to workers in the value chain and corporate conduct governance.
Alongside these EU standards comes other government-related news as well, Germany, the Netherlands, Belgium and Denmark sign a €135 billion offshore wind pact to create the “green power plant of Europe,” seeking to create wind farms with an output of 150 GW by 2050. The pact will also contribute to large-scale production of green hydrogen, setting combined targets of 20 GW of production capacity by 2030.
May also sees American Express unveil its first $1 billion sustainability bond issue. This bond is part of a $3.5 billion bond series. This green bond can cover multiple projects such as Circular Economy, Green Buildings and Energy Efficiency and Renewable Energy.
As this legislation is advancing Deutsche Bank introduces mandatory ESG ratings for suppliers, also in case of having a contract with the bank over 500,000 euros will require an ESG rating to see if it complies with the bank’s own regulations, this is because the bank itself wants to participate in promoting a green economy.
Finally, in remarkable news, the Bank of England announced the results of its biannual climate change test exercise and concluded that UK banks and insurers are likely to be able to absorb the physical and transitional costs of climate change, but will face significant financial difficulties, particularly if measures to address climate change are insufficient or delayed.

Links:
https://www.esgtoday.com/efrag-releases-proposed-european-sustainability-reporting-standards/
https://www.esgtoday.com/american-express-files-for-inaugural-1-billion-sustainability-bond-issuance/
https://www.esgtoday.com/eu-lawmakers-move-to-toughen-expand-green-bond-rules/
https://www.esgtoday.com/germany-netherlands-belgium-and-denmark-sign-major-offshore-wind-pact-to-deliver-the-green-power-plant-of-europe/
https://www.esgtoday.com/deutsche-bank-introduces-mandatory-esg-ratings-for-suppliers/
https://www.esgtoday.com/boe-climate-stress-test-finds-climate-risk-manageable-for-banks-but-highlights-high-cost-of-inaction/

Climate Change
Climate Change 2021-2022
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From Eter we understand that the year 2022 has been a critical year in all the processes of evolution of the approach of the different sectors towards climate change, from that perspective of the year 2022 begins already with two important news in 2021 The Regulatory Council of Federal Acquisitions is considering modifying the Federal Acquisition Regulations (FAR) to ensure that procurement by major federal agencies minimizes the risk of climate change.

Also in January, investment giant BlackRock announced that it had raised $673 million for the Climate Finance Association to invest in climate infrastructure in developing markets to help accelerate the global transition to climate change. Zero net economy.
As we will see in future posts, this trend has continued to grow since then. More information at the links:

hhttps://www.esgtoday.com/blackrock-spearheads-673-million-climate-finance-fundraise-targeting-infrastructure-investments-in-emerging-markets/

https://www.federalregister.gov/documents/2021/10/15/2021-22266/federal-acquisition-regulation-minimizing-the-risk-of-climate-change-in-federal-acquisitions

 

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