Digital library on sustainable finance

THEME

REPORT TYPE

LANGUAGE

YEAR

 – 

search

REGION

TITLE

AUTHOR

PUBLISHED

LANGUAGES

TITLE SFDR Article 9: Is it all about impact?
AUTHOR Scheitza, L. , Busch, T.
PUBLISHED Mar 2024
LANGUAGES EN 
More

Summary

The authors investigate more than 1,000 investment funds that are classified under Article 9 of the EU Sustainable Finance Disclosure Regulation (SFDR). Using the G7’s new typology of sustainable
investments, we show that Article 9 funds pursue varying degrees of ambition: while 60 % follow an impact-oriented strategy, we identify 40 % that instead pursue a general Environment, Social, and Governance (ESG) strategy. We do not find significant differences in ESG scores between ESG-related and impact-related funds. Yet, impact-related funds have higher SDG impact scores and
higher management fees. Downgraded funds that changed SFDR status, however, tend to be less
focused on impact.

Link

TITLE Impact investing – Do SDG funds fulfil their promises?
AUTHOR European Securities and Markets Authority
PUBLISHED Feb 2024
LANGUAGES EN 
More

Summary

Impact investing – i.e., investments made with the intention to generate positive, measurable social and environmental impact alongside a financial return – attracts growing interest from investors. It is, thus, important for the sustainable finance work of ESMA and forms part of a specific workstream on greenwashing, as impact investing – while essential for progressing on the EU’s sustainability objectives – may be prone to misleading, inaccurate or unsubstantiated claims. Impact investing – and ESG investing overall – have a key role to play in achieving sustainability objectives, thus the topic requires particular attention to ensure that products and strategies that aim to foster such objectives stand true to their claims. Impact claims are often based on well-known sustainability frameworks, including the United Nations Sustainable Development Goals (SDGs), which are a significant pillar of the international development agenda. Here specifically, these impact claims suggest a positive contribution to the fulfilment of the SDGs. Their achievement requires substantial financial resources, which can, at least partly, be sourced from private sector actors through the issuance of dedicated financial products. Increasing investor appetite for sustainable financial products has boosted the growth of investment funds claiming to contribute to achieving the SDGs (SDG funds). This article proposes and summarises a methodological approach towards identifying SDG funds and assessing the extent to which their holdings align with their claims by bringing together a unique set of different data sources. Our results highlight some of the challenges in assessing real-world impact claims and show that SDG funds do not significantly differ from non-SDG counterparts or ESG peers regarding their alignment with the United Nations SDGs. This raises questions as to whether funds claiming to contribute to the SDGs are actually fulfilling their promise to investors.

Link

TITLE Methodology for Eurosif Market Studies on Sustainability-related Investments
AUTHOR Busch, T.; Pruessner, E.; Oulton, W.; Palinska, A.; Garrault, P.
PUBLISHED Feb 2024
LANGUAGES EN 
More

Summary

The purpose of this paper is to present a new methodology for market studies on sustainability-related investments. The paper is based on an earlier white paper by the University of Hamburg and Eurosif (Busch et al. 2022). The updated methodology was developed by Eurosif’s SRI Study Group (SSG) in cooperation with the University of Hamburg, the Sustainable Finance Research Group (SFRG) and Advanced Impact Research (AIR). Over the course of 2023, feedback from both SSG members and other practitioners was taken into account to make the methodology practicable.
Past market studies on sustainability-related investments typically gathered data on a range of different sustainability-related investment approaches and aggregated them to one of a number of “sustainable investments”. However, these statistics did not differentiate between investments based on their investment strategy and/or objectives to actively support the transition towards a more sustainable economy.

Download

2024.02.15 Final Report Eurosif Classification_2024 (pdf 416.3 kB)
TITLE Indirekte Immobilienanlagen auf dem Weg zu Netto-Null: Stand und Aktivitäten
AUTHOR SVVK-ASIR
PUBLISHED Feb 2024
LANGUAGES EN 
More

Summary

Im Sommer 2023 hat der Schweizer Verein für verantwortungsbewusste Kapitalanlagen (SVVK) die Anbieter von Immobilienfonds über ihren Weg zu Netto-Null befragt. Die daraus resultierenden Ergebnisse zeigen, wo der grösste Handlungsbedarf besteht.

In der Schweiz stammen rund 30% der inländischen CO2-Emissionen aus dem Immobiliensektor. Um die Schweizer Klimaziele zu erreichen, spielen Immobilien daher eine zentrale Rolle. Als bedeutende Investoren im Schweizer Immobilienmarkt haben sich die Mitglieder des SVVK entschieden, den aktuellen Stand der Klimaanstrengungen bei den Anbietern von indirekten Immobilienanlagen zu erheben.

Die Ergebnisse der Umfrage, an der 22 Fondsanbieter teilgenommen haben, zeigen, dass im Schweizer Immobiliensektor mittlerweile ein Bewusstsein für die Thematik vorhanden ist: Alle befragten Fonds haben mit der Datenerhebung begonnen. Die Transparenz zur Beurteilung der tatsächlichen Fortschritte ist jedoch noch nicht ausreichend. Zwar veröffentlichen immer mehr Immobilienfonds Klima- oder Nachhaltigkeitsberichte, was erfreulich ist. Diese weisen jedoch grosse Unterschiede in Qualität und Tiefe auf.

Auch bei der konkreten Umsetzung von Massnahmen der strategisch definierten Absenkziele sind die Anbieter von Immobilienfonds noch sehr unterschiedlich weit. Die Qualität der entwickelten Umsetzungspläne lässt sich nur schwer überprüfen. Wichtig ist, dass die Fondsanbieter ihre Ziele zur Reduktion von Klimaemissionen mit konkreten Massnahmen verknüpfen, damit diese nachvollzogen und verifiziert werden können.

 

Link

TITLE Sustainability Software Radar
AUTHOR Swisscom
PUBLISHED Feb 2024
LANGUAGES EN 
More

Summary

The market for carbon management and sustainability software solutions is constantly changing and is characterised by new start-ups, M&A activities and portfolio expansions by established providers. Legal regulations and new customer requirements are causing companies to continuously expand their product portfolio and place new solutions on the market. As a result, there are more solutions than companies, which which is reflected in the following market overview.

Link

TITLE Regulating Sustainable Finance in Europe
AUTHOR Tadas Zukas
PUBLISHED Jan 2024
LANGUAGES EN 
More

Summary

The European Sustainable Finance Action Plan marked its 5th anniversary in 2023. Since its publication in 2018, the Action Plan reshaped the European sustainable finance. It has also substantially impacted the European and global sustainable finance debate.
As this book goes to publication, the Action Plan's four key regulations are now all in force. The sustainable finance market is also in the process of reaching a new level of maturity in tackling greenwashing. The new European regulatory architecture for sustainable finance is getting closer and closer to its conceptual completion.

The book offers an in-depth overview of this new emerging field of European law. It starts with a discussion of the purpose and underlying principles of the new European regulatory framework for sustainable finance, proceeds with an analysis of the four key regulations that have emerged out of the Action Plan's legislative agenda and closes with a section on tackling greenwashing.

Link

TITLE Transition Plan Taskforce: Asset Managers Sector Guidance
AUTHOR TPT (Transition Plan Taskforce)
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

The TPT Asset Managers Sector Guidance adds further depth and detail for preparers of transition plans that are operating in the Asset Management sector.

The Guidance is open for consultation until 29th Dec 2023

Link

TITLE Global Sustainable Investment Review 2022
AUTHOR Global Sustainable Investment Alliance
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

The Global Sustainable Investment Alliance (GSIA) has today published its sixth edition of the biennial Global Sustainable Investment Review (GSIR), sponsored by HSBC Global Research, finding that US$30.3 trillion is invested in sustainable assets globally.

The report shows that in non-US markets – Canada, Europe, Japan, Australia and New Zealand – there has been a 20% increase in sustainable assets under management (AUM) since the 2020 GSIR.

The report also showcases a maturing of the industry, which includes the adoption of tighter definitions of when a fund can be described as ‘sustainable’. These newly imposed standards were a direct response to growing concerns around ‘greenwashing’ and thus impacted how the US SIF has measured ‘sustainable assets’ in the period to 2022.  As a result of the US SIF’s methodology change, the report finds a drop from $17tn in reported AUM in the United States in 2020 to $8.4tn in 2022.

Similarly, in Europe, the long-term trend suggests that the proportion of assets defined as ‘sustainable’ has been declining by around 5% per year. Increased requirements around disclosure regulations and the tightening of definitions around sustainable investing and its related approaches may be contributing to this decline.

A wider trend is also emerging globally highlighting the need for clearer definitions and a more shared understanding around what makes a sustainable asset ‘sustainable’. Further developments can be expected in the years to come, as the EU’s Sustainable Financial Disclosures Regulation (SFDR) continues to evolve, alongside other global disclosure and labelling approaches, and as data availability and quality increases.

Link

TITLE Findings of a high-level scoping study exploring the case for a global nature-related public data facility
AUTHOR Taskforce for Nature-related Financial Disclosures
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

This document is a paper that responds to questions from number of G20-member governments about how addressing nature-related data challenges could enable and accelerate the uptake of corporate reporting and target-setting by business and finance, in line with Target 15 of the Global Biodiversity Framework. 

Key focus areas 

  • An outline of nature-related data needs to respond to key nature data challenges 
  • An overview of solutions to nature-related data challenges: the case for a global nature-related public data facility 

Key outcomes 

  • Providing global solutions to nature-related data challenges to enable and accelerate uptake of corporate reporting and target-setting by business and finance 

Link

TITLE Discussion paper on proposed sector disclosure metrics
AUTHOR Taskforce for Nature-related Financial Disclosures
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

This document provides draft core sector disclosure metrics for the following sectors:

  • Apparel and textiles
  • Construction materials
  • Infrastructure
  • Real estate

Key focus areas

The discussion paper presents:

  • Proposed guidance on how to apply the TNFD core global disclosure metrics in each sector, where relevant
  • Proposed core sector disclosure metrics
  • Proposed additional sector disclosure metrics

Key outcomes

  • Enable disclosure at sector level 
  • Support financial institutions in comparing across organisations within that sector, who often face common nature-related issues 

Link

TITLE Discussion paper on proposed approach to value chains
AUTHOR Taskforce for Nature-related Financial Disclosures
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

This document is a discussion paper on how organisations can approach the analysis of their upstream and downstream value chains. It includes discussion of when it is appropriate to seek full traceability, and where use of secondary data may be an acceptable alternative to the direct measurement of dependencies and impacts.

Key focus areas

  • Outline of value chain characteristics that can create challenges assessing nature-related issues 
  • How organisations can approach these issues using the LEAP approach 
  • An overview of data needs for assessing value chains and how to address them 
  • How related disclosure frameworks and standards approach value chains 

Key outcomes

  • An understanding of TNFD’s approach to assessment of nature-related issues along value chains  

Link

TITLE Discussion paper on conducting advanced scenario analysis
AUTHOR Taskforce for Nature-related Financial Disclosures
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

This document is a discussion paper that outlines approaches to advanced scenario analysis. It builds on the TNFD’s foundational guidance on scenario analysis. It is primarily intended for experienced users of scenarios in financial institutions and large multinational companies interested in advanced nature scenario methods. This may include those taking action in anticipation of regulatory stress testing, as has occurred with climate-related risk assessment.

Key focus areas

  • A comprehensive overview of three phases of scenario development, tailored for advanced assessments
  • Practical step-by-step outline of the implementation of each phase
  • Examples of scenario development and application for different use cases using the IPR FPS + Nature approach as an illustration
  • Overview of recommendations and guidance on nature-related scenario in frameworks and standards

Key outcomes

  • Stimulate feedback to the TNFD on the development of guidance on advanced scenarios.
  • Enable financial institutions and large corporates to use advanced scenarios to explore implications of uncertainties, assess risks, set targets and transition plans and test the resilience of their strategies.
  • Support action by financial institutions in anticipation of regulatory stress testing on nature-related risks, as has occurred with climate-related risk assessment.

Link

TITLE Discussion paper on biodiversity footprinting approaches for financial institutions
AUTHOR Taskforce for Nature-related Financial Disclosures
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

This document is a discussion paper that presents an overview of the current landscape of biodiversity footprinting approaches, including their limitations and sets out six steps to help market participants select and disclose these approaches appropriate for their requirements.

TNFD developed this paper in partnership with the Partnership for Biodiversity Accounting Financials (PBAF). It builds on the significant work on biodiversity footprinting of PBAF, the Align project, the Finance for Biodiversity Foundation and others to help companies and financial institutions make informed decisions on where to start and the approaches to use as they navigate this area.

Key focus area

  • A definition of biodiversity footprinting
  • An overview of the current landscape of footprinting approaches
  • Summary of the limitations of existing approaches to footprinting
  • Six steps to help market participants select and disclose biodiversity footprinting approaches appropriate for their requirements

Key outcomes

  • Inform the ongoing development of the TNFD’s measurement architecture
  • Assess the decision utility of biodiversity footprinting methodologies to help market participants
  • Present draft guidance on biodiversity footprinting approaches for market feedback
  • Stimulate further innovation by developers and data providers in nature-related methodologies, tools and analytics

Link

TITLE Time to Plan for a Future Beyond 1.5 Degrees
AUTHOR Nature Finance
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

This short pamphlet by NatureFinance poses the question of whether current systems are equipped to limit warming to 1.5 degrees and what will happen if this is not achieved. It outlines three systemic features that must be considered in any successful transition to a 1.5 Degree world –refugees, food security and finance.

Link

TITLE Principles for Responsible Banking (PRB): Guidance for banks PRB Nature Target Setting
AUTHOR Principles for Responsible Banking
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

This new publication from PRB gives guidance for banks on Nature Target Setting, particularly when it comes to lending activities, on or off balance sheet investing activities and capital market activities.

Link

TITLE Tameo Private Asset Impact Fund Report 2023
AUTHOR Tameo
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

The Tameo Private Asset Impact Fund Report 2023 report stems from a six-month survey conducted by Tameo, focusing on private asset impact funds (PAIFs) primarily investing in developing countries. The surveyed market encompasses investment vehicles managed by specialized impact fund managers with over 50% of their non-cash assets allocated to private debt or private equity instruments, primarily in emerging and frontier markets, with a development impact bias. Investment managers (IMs) headquartered in Switzerland manage 13% of total AuM (being the largest market share behind the USA).

Link

TITLE WWF 2023 SUSREG ANNUAL REPORT
AUTHOR WWF
PUBLISHED Dec 2023
LANGUAGES EN 
More

Summary

SUSREG Tracker is WWF´s interactive online assessment tool that evaluates progress on the integration of environmental and social risks into central banking, financial regulation and supervision activities. The findings from the latest SUSREG Tracker show a significant increase of sustainable regulatory and supervisory measures by several central banks and financial supervisors with a strong focus on climate. 68% of high-income countries have not yet adopted considerable climate and environmental banking supervision policies.

 

Link

TITLE Climate Reporting in Switzerland - How aligned are Swiss Companies with the Ordinance on Mandatory Climate Disclosures?
AUTHOR Rugova, Qendresa
PUBLISHED Nov 2023
LANGUAGES EN 
More

Summary

Climate reporting by Swiss companies is not yet aligned with the TCFD recommendations. In this study, we assessed climate related reporting for the fiscal year 2022 from 40 non-financial publicly listed companies on the Swiss SIX stock exchange. Our research focused on the extent of alignment
of observed disclosures related to the 4 TCFD fundamental areas (Governance, Strategy, Risk  Management, and Metrics and Targets). Results show that public disclosures are generally not well aligned with the TCFD recommendations. It’s important to note that our study is based on data up to
December 2022. Companies may be currently undertaking significant efforts in improving their public disclosures to adhere to the upcoming Swiss Ordinance obligations, which is not reflected in these findings.

Download

Thought_Leadership_Report_Climate_Reporting_in_Switzerland_November_2023 (pdf 7.2 MB)
TITLE Regulating Sustainable Finance in Europe
AUTHOR Zukas, T.
PUBLISHED Nov 2023
LANGUAGES EN 
More

Summary

The European Sustainable Finance Action Plan marked its 5th anniversary in 2023. Since its publication in 2018, the Action Plan reshaped the European sustainable finance. It has also substantially impacted the European and global sustainable finance debate.

As this book goes to publication, the Action Plan’s four key regulations are now all in force. The sustainable finance market is also in the process of reaching a new level of maturity in tackling greenwashing. The new European regulatory architecture for sustainable finance is getting closer and closer to its conceptual completion.

The book offers an in-depth overview of this new emerging field of European law. It starts with a discussion of the purpose and underlying principles of the new European regulatory framework for sustainable finance, proceeds with an analysis of the four key regulations that have emerged out of the Action Plan’s legislative agenda and closes with a section on tackling greenwashing.

Link

TITLE Sustainable Finance Regulation: A Comparative Analysis for Switzerland
AUTHOR E4S
PUBLISHED Sep 2023
LANGUAGES EN 
More

Summary

In this market overview, three main objectives are examined within the regulation that applies to Switzerland: improve transparency on sustainability characteristics of financial products, promote classification systems for financial products based on their sustainability characteristics and require the integration of client ESG preferences in advisory services. After an examination, three recommendations are made for improving Swiss frameworks on sustainability-related disclosures of financial market participants.

Link

TITLE Underwriting Our Planet: WWF Insurance Report
AUTHOR WWF, Deloitte Switzerland
PUBLISHED Sep 2023
LANGUAGES EN 
More

Summary

A new report, from WWF and Deloitte Switzerland, offers a first comprehensive insight into the impact of insurance companies’ underwriting business on climate change and biodiversity loss. Insurance companies have several possibilities to reduce their negative environmental impact and to become catalysts for a green, fast and fair transition. In this report, WWF recommends 6 actions; alignment, engagement, promotion of green choices among clients, eliminate harmful policies, exclusion and fossil fuel phase-out.

Link

TITLE Taskforce on Nature-related Financial Disclosures (TNFD) Recommendations
AUTHOR TNFD
PUBLISHED Sep 2023
LANGUAGES EN 
More

Summary

The long awaited Taskforce for Nature-related Financial Disclosures (TNFD) Recommendations include general disclosure recommendations across four pillars of governance, strategy, risk and impact managament and matrics and targets.

Link

TITLE TNFD: Additional guidance for financial institutions
AUTHOR TNFD
PUBLISHED Sep 2023
LANGUAGES EN 
More

Summary

This document provides additional guidance for financial institutions to apply the TNFD Recommendations. The guidance applies to banks, insurance companies, asset managers and owners, and development finance institutions. Examples of different ways biodiversity and nature is currently already being disclosed by FIs alongside recommendations about how the TNFD can be used now by FIs despite data limitation.

Link

TITLE Bonds to Finance the Sustainable Blue Economy: A Practitioner's Guide
AUTHOR ICMA, IFC, UNEP FI, Sustainable Blue Economy, UNGC, ADB
PUBLISHED Sep 2023
LANGUAGES EN 
More

Summary

The Blue Economy encompasses economic activities that rely or impact on the use of coastal and marine resources. Like the broader concept of the Green Economy, of which the Blue Economy forms a part, it advocates sustainable use of these resources to minimize negative impacts on the marine environment. Investing in the Sustainable Blue Economy (SBE) recognizes the criticality of the ocean and its resources, and the increasing threats to the marine environment from climate change, overexploitation, and marine pollution. This voluntary guidance aims to provide to provide issuers with guidance on the key components involved in launching a credible “blue bond,” to aid investors by promoting availability of information to evaluate the environmental impact of their
“blue bond” investments, and to assist underwriters by offering vital steps that will facilitate transactions that preserve the integrity of the market.

Link

TITLE Pension Fund Yearbook 2023
AUTHOR PPCmetrics
PUBLISHED Sep 2023
LANGUAGES DE  FR  IT 
More

Summary

With this publication, PPCmetrics AG is publishing the “Pension Fund Yearbook” (previously “Analysis of the Annual Reports of Pension Funds”) for the ninth time. The study systematically analyzes structural data from Swiss pension funds. The study is based on a broad and representative peer group of 299 pension funds with cumulative pension assets of around CHF 727 billion and around 3.7 million insured people. The data collection by PPCmetrics was carried out for the first time in 2008, so a data history of 15 years is available for the analysis.

Link

Showing 1 - 25 of 668 Reports

Login for Members

Incorrect username or password. Please try again or send email to info@sustainablefinance.ch for support.