UNEP Finance Initiative

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Relationship between UNEP and UNEP FI

The United Nations Environment Program Finance Initiative ( UNEP FI ) is based in Geneva , Switzerland . The main committee is chaired by Paul Clements-Hunt. The UNEP FI is a global partnership between the United Nations Environment Program ( UNEP ) and the private financial sector.

aims

The aim is to integrate environmental aspects into the services of the financial sector. Founded in the 2003 merger of the initiatives: FINANCIAL INSTITUTIONS INITIATIVE (banking industry) and INSURANCE INDUSTRY INITIATIVE (insurance industry), a distinction is made between a financial sector and an insurance sector. Both undertake in different declarations to promote social development, environmental protection and sustainability . Around the world, 170 financial and credit institutions from 44 countries have joined them to promote private investments in environmentally friendly technologies and services and to combine sustainability and economic efficiency. The elected representatives of the Main Committee and a representative of UNEP adopt an annual work program and regional activities.

tasks

Main tasks

The UNEP FI's strategic work program focuses on developing innovative approaches to issues related to finance and sustainability.

  • Climate change - UNEP FI's own working group on climate change deals with CO 2 emissions financing, national and international politics and regulatory debates and renewable energy.
  • Insurance benefit - Finding innovative ways of dealing with issues of sustainability in the areas of products, services, investments and operational ecology.
  • Investment - How can material, social, environmental and government requirements best be translated into investment in practice?
  • Ownership - The construction and operation of real estate makes a significant contribution to global CO 2 emissions, environmental pollution and energy consumption. The Real Estate Working Group analyzes the role of financial institutions in promoting sustainable development in the real estate finance sector.
  • Sustainability Management and Reporting - Developing a global financial service support reporting initiative (sustainability performance). Building a business case for sustainable management and reporting in emerging economies.

Other activities

  • Biodiversity and Ecosystem Services - Supporting the financial services sector to address challenges arising from biodiversity loss and the degradation of ecosystem services.
  • Finance and conflict management - Development and promotion of an economic case for conflict prevention in the financial sector and increasing awareness of the opportunities that arise when one actively deals with conflict prevention issues.
  • Human Rights and Finance - Driving social and environmental sustainability development to explain how human rights and activities of financial institutions worldwide are related so that financial professionals can make responsible decisions within their spheres of influence.
  • Water and Finance - Promote proactive approaches by financial institutions to addressing water-related challenges and opportunities by raising awareness and building capacity.

Regional activities

Sector division of the contractual partners

UNEP FI is a global cooperation between private companies and the public. UNEP FI is based on a network of regional working groups to coordinate their activities. This gives the participating institutes the opportunity to interact and exchange experiences in order to find the best possible practical solution for corresponding tasks.

The working groups have become an important source of innovation, particularly in the risk management training area.

Instruments

The following products and services are offered to contractors to facilitate the implementation of sustainable finance and practices in the global financial sector.

  • Environmental & Social Responsibility Observatory ESRO is an online database of experience reports from UNEP FI representatives and other financial institutions.
    • Dealing with environmental and social risks in their credit and investment areas.
    • Successful management to align financial and sustainable performance by channeling financial resources into specific activities that have a net positive impact on the environment, society and their own corporate goals.
  • Human Rights Tool - The UNEP FI Human Rights Tool for the Financial Sector is an online labeling tool that provides information to lenders about human rights risks. There you can find:
    • Background information
    • Specific questions related to different industries
    • Key questions to support the impact assessment
    • Relevant international laws, standards and initiatives
  • Environmental and Social Risk Briefings - The Social Risk Briefings summarize ten sectors, followed by key points, environmental and social risks, key considerations, and appropriate resources. This tool is only available to UNEP FI signatories.

Contract partner

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Web links

References

  • http://www.unepfi.org - Official UNEP Finance Homepage (English)
  • E. Günther: Ecology-oriented management. Environmental (world-oriented) thinking in business administration. Lucius & Lucius, 2008, ISBN 978-3-8282-0415-7