ECA GBAC Newsletter – November-December 2021
This year’s COP included direct and focused attention to climate finance, with a goal to increase investments from both public and private sectors. At the summit, more than 450 financial organizations representing $130 trillion in capital came together with an ambitious pledge to reach net zero by 2050. Private banks, united under the Net-Zero Banking Alliance initiative, are to play a crucial part in this historic climate finance commitment. Read more
IFC’s Investment to Boost Green Housing, Strengthen Capital Markets in Romania
IFC invests Romanian Leu 95 million ($22 million) in senior preferred green bonds issued by Banca Comercială Romana S.A. (BCR) to help expand green housing finance in Romania while bolstering the country’s banking system and capital markets. Read more
IFC Supports the National Bank of Ukraine to Introduce a Sustainable Finance Policy
The Policy, developed with IFC support and adopted by NBU in November, embraces the period of 2021-2025. The Policy outlines planned steps for introducing regulatory requirements for Ukrainian financial institutions for climate impact reporting and integrating the Environmental, Social and Governance criteria. Read more
Voices of Climate Action
In a mini-interview, Peter Cashion, IFC’s chief investment officer and global head of climate finance talks about current and future trends in green financing.
Read the interview
Green Buildings and Construction
Green buildings represent one of the biggest investment opportunities of the next decade – nearly $25 trillion across emerging market cities by 2030 and $881 billion in Eastern Europe and Central Asia.
Please see our February 2 online discussion to learn about trends and opportunities for banks in the booming sector of green buildings and construction.
In the News
- The Breakdown: What is in the Glasgow Climate Pact? (Climatechangenews.com)
- How Banks Can Accelerate Net-Zero Emissions Commitments (GreenBiz)
- Bank of England Warns of Crackdown on Financing Linked to Climate Risk (The Guardian)
- What to Watch in Climate Finance Next Year (Bloomberg Green)
- Climate Change an ‘Emerging Threat’ to U.S. Financial Stability, Regulators Say (The New York Times)
- Who Will Pay for the Damage Caused by Climate Change? (BBC)