This report evaluates and benchmarks the quality and comprehensiveness of climate risk disclosures by insurance companies in response to the National Association of Insurance Commissioners (NAIC) Climate Risk Disclosure Survey. In 2014, insurance regulators in six states—California, Connecticut, Minnesota, New Mexico, New York and Washington— required insurers writing in excess of $100 million in premiums to fill out the survey. This report analyzes responses by 148 insurance companies, collectively representing about 71 percent of the U.S. insurance market in terms of 2014 direct premiums written. A total of 375 insurance companies submitted Climate Risk Disclosure Surveys.
Investing in sustainable infrastructure is key to tackling three simultaneous challenges: reigniting global growth, delivering on the Sustainable Development Goals (SDGs), and reducing climate risk. Following the milestone achievements of 2015 – including the ambitious global goals set for sustainable development and its financing in Addis Ababa and New York, and through a landmark international agreement on climate action in Paris – the challenge is to now to shift urgently from rhetoric into action.
This study examines how alternative transport fuels and infrastructure, which are expected to play a crucial role in the transport sector’s future, develop in other world regions. It aims to contribute to the development and implementation of a European transport strategy effectively promoting alternative modes of transportation and safeguarding the EU’s transport industry’s leading position.
The 2030 Agenda for Sustainable Development and the Paris Agreement represent the most ambitious multilateral goals ever set. These goals require an unprecedented mobilization of both public and private finance – some US$90 trillion over the next 15 years. Public finance is scarce and must serve competing priorities.Progress has been made to mobilize private finance by shaping the right enabling investment conditions and crowding-in private capital with public funds.
This includes assurance that companies are lowering their risk exposure to policies that place a price on carbon and reallocating capital to deliver higher returns in a low-carbon economy. This report provides investors, companies and governments with an overview of how companies are responding to carbon pricing signals within the global economy
Africa has abundant renewable energy resources. Traditionally reliant on hydropower, the continent is increasingly turning to solar photovoltaics (PV) to bolster energy security and support rapid economic growth in a sustainable manner. Solar PV module prices have fallen by 80% since the end of 2009, and PV increasingly offers an economic solution for new electricity generation and for meeting energy service demands, both on- and off-grid.
The year 2015 was an extraordinary one for renewable energy, with the largest global capacity additions seen to date, although challenges remain, particularly beyond the power sector. The year saw several developments that all have a bearing on renewable energy, including a dramatic decline in global fossil fuel prices; a series of announcements regarding the lowest-ever prices for renewable power long-term contracts; a significant increase in attention to energy storage; and a historic climate agreement in Paris that brought together the global community
There are three key barriers to the growth of rooftop solar power in India: the high upfront costs of installation, low access to debt finance, and perceived performance risk. One promising solution to manage these barriers is the third party financing model. This paper explores the driving factors and challenges to the third party financing model, and proposes a series of recommendations for policy changes and financial instruments which could address these challenges.
In January 2016, the Principles for Responsible Investment (PRI), the United Nations Environment Programme Finance Initiative (UNEP FI) and The Generation Foundation launched a three-year project to clarify investors’ obligations and duties in relation to the incorporation of environmental, social and governance (ESG) issues in investment practice and decision-making. This follows the publication in September 2015 of Fiduciary Duty in the 21st Century by the PRI, UNEP FI, the UNEP Inquiry and the UN Global Compact.
This fifth edition of the Joint Multilateral Development Banks' Report on Climate Finance reports on financing committed by the African Development Bank (AfDB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), the Inter-American Development Bank Group (IDBG), and the World Bank Group (WBG), to climate change mitigation and adaptation projects and activities in 2015. This year's report was coordinated by ADB.
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