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  • Allianz and Dutch development bank back US$1.1 billion sustainable loans fund

    November 28, 2023 | Green finance markets | Global

    Allianz Global Investors and Dutch development bank FMO have agreed one of the largest "blended finance" funds on record, raising US$1.1 billion to invest in loans that help emerging and frontier countries meet sustainable development targets. The fund is the largest of its type since 2018 and one of the five biggest to date.

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  • DBS and H&M Launch Green Finance Tool For Fashion Decarbonisation

    November 28, 2023 | Green finance markets | Global

    DBS and fashion retailer H&M Group have launched a green loan programme to help the apparel sector decarbonize its supply chains. Suppliers can access financing from DBS and technical support from sustainability consultant Guidehouse via the “collaborative finance tool”.

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  • Japan's TSE starts market maker trial in carbon credit market

    November 27, 2023 | Japan | East Asia & Pacific

    Japan's Tokyo Stock Exchange (TSE) said it has launched a market maker mechanism on a trial basis in the newly launched carbon credit market to boost liquidity. The trial will run from Monday to Feb. 29, 2024, and the target classifications are J-Credit on energy-saving and on renewable energy (electricity).

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  • Deloitte, IBM Launch Sustainability Solutions Collaboration

    November 27, 2023 | Global

    Deloitte announced a global collaboration with IBM that will leverage the two companies’ leading sustainability solutions, which together can help clients accelerate emissions reductions strategies. Through the collaboration, clients can leverage multiple IBM solutions and can integrate data from the IBM Envizi ESG Suite with Deloitte’s GreenLight Solution.

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  • UNEP FI Launches Nature-related Guidance for Banks

    November 24, 2023 | Global

    United Nations Environment Programme Finance Initiative (UNEP FI) has published new nature target setting guidance for signatories to the UN-convened Principles for Responsible Banking (PRB). The guidance aims to help banks align with the Global Biodiversity Framework and address nature and biodiversity loss.

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  • EU Takes Major Step Towards Net-Zero Technologies with €4 Billion Innovation Fund

    November 23, 2023 | Green finance markets | Europe & Central Asia

    The European Commission (EU) is opening the Innovation Fund‘s 2023 call for proposals with a record budget of €4 billion to support the deployment of innovative decarbonization technologies. The call is funded by revenues from the EU Emissions Trading System (EU ETS), underlining the importance of carbon pricing for the green transition.

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  • Ericsson Issues Inaugural €500 Million Green Bond

    November 23, 2023 | Green finance markets | Global

    Information and communication technology company Ericsson announced today the completion of its inaugural green bond issuance, raising €500 million to investments in energy efficiency initiatives. The proceeds from the issuance would be exclusively allocated to investments in energy efficiency.

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  • BNP Paribas stops financing for metallurgical coal mining

    November 23, 2023 | Green finance markets | Global

    BNP Paribas, the euro zone's biggest bank, said that it no longer provided financing to projects dedicated to the extraction of metallurgical coal. This new commitment is part of BNP Paribas' efforts to align its credit portfolio in the steel sector with its 'Net Zero' commitment. The lender notably vowed to cut its credit exposure to oil and gas by 80% and 30% respectively by 2030, as compared to September 2022.

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  • Irish bank AIB targets 70% green lending by 2030

    November 20, 2023 | Green finance markets | Ireland | Europe & Central Asia

    Irish bank AIB Group has set a target for 70% of new lending to be for environmentally friendly projects or to speed transition to a greener economy, up from 20% so far this year. To achieve its goal, the bank has tripled the money allocated for green lending to €30 billion (US$32.7 billion) from 2024 to 2030.

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  • PRESS RELEASE | The Alliance for Green Commercial Banks Announces the Onboarding of Cornerstone Members, Global and Knowledge Partners, and the Launch of its First Thought Leadership Paper and Website

    June 07, 2022 | Press release | East Asia & Pacific

    Bank of China (Hong Kong), Citi, Crédit Agricole CIB, HSBC, and Standard Chartered, have become cornerstone members of the Alliance for Green Commercial Banks (the Alliance). The Alliance brings together financial and research institutions and innovative technology providers to develop a green community in emerging markets to accelerate sustainable economic development. The Alliance also launched its first thought leadership paper, entitled “Climate Risk: Definitions, Measurement, Current Practices and Regulatory Oversight.

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