Breaking news – Sustainable Finance - November 2023

What’s new in sustainable finance?

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

The French Minister of Energy Transition, has initiated a public consultation as part of the efforts to shape the French Energy-Climate Strategy, including the upcoming multi-year energy programming (PPE) that will outline France's energy policy for the next decade (2024-2035). This one-month consultation provides an opportunity for individuals to share their views on the key directions of this energy planning strategy, which has been the focus of work by seven working groups convened by the minister in recent months.

The European Securities and Markets Authority (ESMA)published three explanatory notes covering key topics of the Sustainable Finance (SF) framework: a) definition of sustainable investments; b) application of do no significant harm (DNSH) requirements; and c) use of estimates. 

After a first consultation in March 2023, the IAIS - International Association of Insurance Supervisors has issued a second consultation on climate risk as part of its goal to promote “a globally consistent approach” in the insurance supervision framework.

The Principles for Responsible Banking (PRB) has launched Nature Target Setting Guidance, involving 34 signatories, to align the banking industry with the Kunming-Montreal Global Biodiversity Framework and address a $700 billion annual biodiversity finance gap. This guidance integrates nature considerations into banking practices, emphasizing alignment with the GBF mission to halt nature loss by 2030 and highlighting the interconnectedness of nature and climate action.

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