Breaking news – Sustainable Finance

What’s new in sustainable finance?

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

COP28's first day saw a breakthrough with over $250 million committed to the "loss and damage" fund for climate-vulnerable nations. Despite concerns about effective implementation and the fund's size compared to others, the consensus on its launch is seen as a significant step in global climate negotiations, emphasizing the importance of close monitoring to prevent greenwashing and ensure a fair transition.

After the publication of UK’s government report “The Financial sector and the UK’s net zero transition”, the UK's Environmental Audit Committee is pressing for mandatory adoption of the Taskforce for Nature-related Financial Disclosures (TNFD) within three years, citing the emergency to address nature-related financial risks and suggesting a phased, mandatory implementation for large companies over the next three to five years, while expressing concerns about slow progress in UK green policy, including delays in the green taxonomy and the Carbon Border Adjust Mechanism.

At COP28, a discussion moderated by Commissioner Johannes Hahn called for the creation of "transition finance" mechanisms to facilitate the decarbonization of hard-to-decarbonize sectors and support small businesses, underlining the need to mobilize significant investments, estimated at between 1.5 and 3.5 trillion euros per year from 2020 to 2050, to achieve the objectives of the Paris Agreement and the Agenda 2030. The report in which Carbone 4 participated as a methodology expert, was presented there.
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