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Climate Change
Climate Change December 2022
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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/

Climate Change
Climate Change June 2022
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Throughout the month of June 2022 making this month in total we want to highlight 3 relevant news.
On the one hand, True Green Capital Management LLC
(TGC), a private equity fund manager focused on renewable energy infrastructure, announced the final closing of its True green Capital Fund IV, with $660 million in committed capital, exceeding its $500 million target. The firm’s current investment portfolio includes utility-scale and sub-utility solar power plants.
The next news to comment on is that the consortium formed by insurance group Crédit Agricole Assurances and energy investor Energy Infrastructure Partners (EIP) have signed an agreement to acquire 25% of Spanish energy company Repsol‘s renewable energy business, Repsol Renovables, for €905 million. Repsol Renovables currently has a portfolio of more than 1.6 GW of installed renewable capacity in Spain, the United States, Chile and Portugal.
Finally, the @Government of Singapore announced the publication of its Green Bond Framework, taking another step towards its inaugural green bond issuance to help finance its green transition plan and support the development of the country’s sustainable financial market.
The government anticipated that its initial bond offering was to raise approximately SGD35 billion (US$25 billion) through green bond issuances through 2030.

Links:

https://www.esgtoday.com/true-green-capital-management-raises-over-650-million-for-renewable-energy-infrastructure-fund/
https://www.esgtoday.com/credit-agricole-eip-acquire-e900-million-stake-in-repsols-renewables-business/
https://www.esgtoday.com/singapore-prepares-to-kick-off-inaugural-25-billion-green-bond-program/

© Eter Climate 2022