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April 2018: In the context of mobilising policy actions with regard to sustainable finance, the European Parliament and Commission are considering introducing a Green Supporting Factor (GSF) or Brown Penalty (BP) for capital reserve requirements. The objective of this working paper is to identify the potential impacts of introducing a GSF or a Brown Penalty.
Feb. 2018: Testing the Japanese listed equity market alignment with the 2°C climate goal – Energy technology diversification assessment relative to the IEA 2°C scenario
On 28 February, 2018, the 2° Investing Initiative (2°ii) released a report analysing the alignment of the Japanese stock market with the Paris Agreement on climate change, in partnership with Professor Jusen Asuka of Tohoku University, Dr. Michiyo Morisawa, Director of the CDP Japan office and Head of PRI Japan, Pr. Yoshihiro Fujii, Representative Director of Research Institute for Environmental Finance (RIEF), and the Institute for Global Environmental Strategies (IGES). Based on a comparison of the Tokyo Stock Price Index (TOPIX) with the International Energy Agency (IEA) 2°C scenario, the Japanese listed companies of the TOPIX appear to be globally misaligned with the 2°C climate goal. It means that investors exposed to the TOPIX index are, so far, not in line with the commitment of the Japanese Government to keep global warming well below the +2°C limit. These results call for investors to define more informed investment strategies towards decarbonization, and for policy makers to better incentivize the financial sector so that it can contribute effectively to the fight against climate change.
The report is available in Japanese […]
Jan 2018: An overview of the current state of the household credit market. We argue that household credit has so far been an overlooked topic in climate finance. While there are some tentative steps from early movers to assess the climate impact of various types of household credit much potential remains to be unlocked.
Read our paper “A Taxonomy of Climate Accounting Principles for Financial Portfolios” published in the sustainable finance special issue of the journal Sustainability.
November 2017: The ISO 14097 “Framework and principles for assessing and reporting investments and financing activities related to climate change,” was proposed by the French standardization body AFNOR and approved by ballot in January 2017. The convenors are Stan Dupré (CEO of 2° Investing Initiative – commissioned by AFNOR) and Massamba Thioye (UNFCCC secretariat), with AFNOR acting as secretariat.