The information presented in this post is for information sharing purposes and shall in no way be deemed endorsed by any other Supporting Institution nor the Secretariat.

  • 2019 Spring Meetings of the World Bank Group and the International Monetary Fund
    During this edition of the Spring Meetings:
    • Sixty global investors came together to adopt the Operating Principles for Impact Management — a new market standard for impact investing in which investors seek to deliver measurable, positive impact for society alongside financial returns.
    • Finance Ministers from more than twenty countries launched the Coalition of Finance Ministers for Climate Action aimed at driving stronger collective action on climate change and its impacts. The Coalition will pursue a set of six ‘Helsinki Principles’ that promote national climate action, especially through fiscal policy and the use of public finance. The World Bank will serve as the secretariat for the Coalition.
  • G7 Environment Ministers meeting:
  • The future of climate focused international funds
    2019 is a key year in determining the global architecture of climate funds:
    • Joint Ministerial Statement on the future of the Climate Investment Funds: more than 30 developing countries called on the international community to recapitalize the Climate Investment Funds (CIF) “in response to worsening consequences of climate change and sweeping finance gaps for low-carbon development.”
    • Green Climate Fund (GCF) replenishment process: The replenishment process was launched at the Board meeting in Bahrain in October 2018 followed by the Initial Organisational Meeting in Bonn in November 2018. A first replenishment meeting was held in April. The next replenishment meeting will be held in August 2019 with the Pledging Conference in October 2019. As of now, Germany and Norway, announced their intention to double their contributions to the Fund.
  • Connecting the dots with related initiatives:
    • The Network for Greening the Financial Sector published on 17 April 2019 its first comprehensive report A call for action which proposes first recommendations aiming at facilitating the role of the financial sector in achieving the objectives of the 2015 Paris Agreement​.
    • UNEP FI released a report presenting the outputs of the pilot gathering twenty institutional investors from eleven countries, convened by UNEP FI and supported by Carbon Delta, who have worked throughout 2018–2019 to analyse, evaluate, and test, state-of-the-art methodologies to enable 1.5°C, 2°C, and 3°C scenario-based analysis of their portfolios in line with the recommendations of the FSB’s Task Force on Climate-related Financial Disclosures (TCFD).
  • Ensuring climate scenarios reflect current ambitions:
    • Investors, experts, businesses and NGOs called the IEA to reform its influential scenarios
      On April 2, 2019 a letter was sent to Fatih Birol, Executive Director of the International Energy Agency (IEA) from over sixty leaders from within the climate community, calling the IEA to:
      1) Make clear that the New Policies Scenario (NPS) is a business as usual scenario that charts a dangerous course to a world with between 2.7ºC and 3ºC of warming.
      2) Develop an updated, fully transparent, ‘Sustainable Development Scenario’ (SDS) to reflect the full range of ambition of the Paris goals and make this the central reference of the WEO.
  • News from Supporting Institutions of the Initiative:
    • ALIDE organised its 49th General Assembly in Madrid and organised among others, a session on climate risks.
    • The Islamic Development Bank released its Climate Change Policy
    • Many Supporting Institutions released their Sustainability report, a great opportunity to learn more about the progress made in mainstreaming climate change in operations (IDBEBRDEIBADB, among others.)