Breaking news – Sustainable Finance

What’s new in sustainable finance?

 Every week, Carbon4 Finance shares the latest headlines in sustainable finance.

$350 bn was generated through the sale of green bonds in the first half of 2023 surpassing the financing for fossil fuel activities. However, a recent study by the ECB underlined uncertainties as some banks fail to differentiate green bonds issued by high and low emitters.

The Network for the Greening of the Financial System (NGFS) found that 70% of central banks reported economic damages from acute physical climate events between 2012 and 2022. Even if there is a shared will to better understand the macroeconomic effects of climate change, only 40% of central banks consider climate in their operations.

Swiss Re reported that the global insurance industry lost up to $50bn ($34bn in the US alone) due to natural catastrophes in the first half. The Zurich-based reinsurance group added that the effect of climate change is “evident in increasingly extreme weather events”.

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