L'Australia lancia un nuovo sistema di classificazione ambientale con le principali banche in testa
In recent developments, various organisations have released reports and initiated programmes aimed at promoting a greener future, particularly in Africa.
Professor Sven Teske from the University of Technology Sydney led the energy modeling team behind the technical analysis of the African Energy Leadership report, launched by Power Shift Africa. This report outlines a strategy for 100% renewable energy across the African continent, estimating that a full green energy transition could save the continent up to US$5tn by 2050, with fuel cost savings amounting to $8.3tn, exceeding the $7.3tn investment required.
The report recommends targeted ECB green lending, stricter regulation to discourage high-emission investments, and substantial public funding for essential but unprofitable green activities. Mohamed Adow, Power Shift Africa’s director, stated that investing in renewable energy is the best option for the continent’s people.
Meanwhile, the International Center for Sustainable and Just Transformation at Witten/Herdecke University and the Institute for Ecological Economic Research published a policy report titled "Financing the Green Transition." The report finds that the main barrier to financing the EU's green transition is not capital scarcity, but the poor bankability of green projects.
In another significant move, the Caribbean Community's Committee of Central Bank Governors and the International Finance Corporation (IFC) are developing a regional green finance taxonomy for the English-speaking Caribbean. This taxonomy aims to unlock climate investment across the region.
Australia has also joined the fray, releasing a new sustainable finance taxonomy in June. This taxonomy covers green and transition activities and sets expectations for engagement with First Nations peoples. Notably, the Australian sustainable finance taxonomy excludes fossil fuel extraction from eligibility and covers the mining of key minerals like lithium and nickel, provided they meet specific emissions criteria. The taxonomy is being piloted with Rabobank, the Commonwealth Bank of Australia, Moody's Ratings, and others.
The TNFD (Task Force on Nature-related Financial Disclosures) has launched a pilot programme for its new nature data principles and aims to upgrade market access to high-quality nature data. The TNFD nature data pilot programme involves over 40 upstream data providers and 20 downstream users.
The Grantham Research Institute published a report examining the growing risks banks face from climate litigation, both directly and via their clients.
Lastly, it's worth noting that while there is no specific evidence of multiple countries cooperating with the International Finance Corporation (IFC) to develop a regional green finance taxonomy, individual countries like Vietnam and Hong Kong are developing their own national frameworks. However, no multi-country, IFC-led regional taxonomy initiative has been publicly announced as of now.
These initiatives and reports underscore the global commitment to a green future and the recognition that investing in renewable energy and sustainable practices is not just an environmental necessity, but also a viable economic opportunity.
Stay tuned for more updates as these programmes and initiatives develop and progress. The TNFD nature data pilot programme will culminate in the release of a set of recommendations at Cop30 in November, and the Caribbean green finance taxonomy is expected to have a significant impact on climate investment across the region.
