Breaking news – Sustainable Finance
What’s new in sustainable finance?
Every week, Carbon4 Finance shares the latest headlines in sustainable finance.
The European Central Bank's report highlights deficiencies in the Net Zero Banking Alliance's efforts, including a lack of substantial changes in investment practices and questions about their influence on climate action. Recent departures of members and doubts about the effectiveness of voluntary initiatives emphasize the need for more rigorous measures to promote decarbonization in the financial sector.
The report on climate risk insurability, commissioned by the Ministry of Economy, Finance, and Industrial and Digital Sovereignty, offers vital recommendations for adapting the French insurance system to climate challenges. The proposed action plan focuses on maintaining risk sharing, enhancing risk prevention, ensuring accessibility, and encouraging the insurance sector's carbon footprint reduction.
The UK's Biodiversity Net Gain legislation, creating the world's first mandatory biodiversity credit market, now applies to small development sites, requiring a 10% net gain in biodiversity achieved through tradeable 'BNG' units. This extension, effective from April 2nd, presents challenges for small developers due to limited space and potential administrative costs, while larger developers had prepared in advance for the initial legislation in February.
