Many roads lead to Rome but beware to take the right pathway to Paris
While many banks now publish transition plans, large differences exist in terms of scope, target-setting methods and the measurement of misalignment with climate goals. This creates a need for standardisation and clarification on what a good transition plan entails.
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Nature is deteriorating faster than ever. Central banks and supervisors have an important role to play in addressing an urgent crisis and a threat to global stability.
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By Aleksandar Simic, Rens van Tilburg and Frank van Gansbeke.
What do the wildfires in Texas and Canada, floods in Kenya and Brazil, debt crises in emerging economies and growing global unease with the dominant position of the US dollar have in common? It might just be their solution through monetary policy innovation. More specifically, a new reserve currency, backed by the global commons, could provide a way out of the present polycrisis of climate change-, biodiversity loss, and shifting geopolitical and financial tectonic plates.
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Sustainable Finance Lab and the Erasmus Platform for Sustainable Value Creation invited John Fullerton, former Wall Street banker turned thought leader on regenerative economics, to meet a select group of Dutch academics and investment professionals. Fullerton applies systems science to economic thinking and has distilled his ideas of how to redesign our economy as a living system into 8 principles.
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On January 18th, the European Banking Authority (EBA) launched a public consultation on draft Guidelines on the management of Environmental, Social, and Governance (ESG) risk. The Guidelines outline requirements for the identification, measurement, management, and monitoring of ESG risks by institutions and prudential transition plans to address the risks arising from the transition to a climate-neutral economy. Sustainable Finance Lab drafted a response to this consultation.
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SFL launches a commissioned report on the use of SDRs on the African continent and the eligibility of different SDR rechanneling proposals. The report is written by two independent researchers from Zimbabwe, Tirivangani Mutazu & Adrian Chikowore. Based on several case studies, interviews with African civil society and policy makers, and a comprehensive study of the different ways in which SDRs can be rechanneled, they conclude:
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