Sustainable, Impact and ESG News and Investment Digest (week ending 6 December 2020)
A weekly round-up of developments in sustainable, impact and ESG news and investing.
In this week's digest:
- EU adopts individual human rights sanctions regime
- Africa supports Covid-19 green recovery deal
- What is the Belt and Road green BRIGC coalition?
- SPG 530 highlights need for ESG investment strategy and disclosure
- Fraser Island bushfire disaster
Europe adopts human rights sanctions regime
The EU has adopted an individual sanctions regime for human rights violations (EGHRSR). The regime will strengthen the international community's ability to co-ordinate and hold accountable individuals that are involved in human rights abuses.
It will cover human rights abuses, including genocide, slavery, torture, extrajudicial decisions, and arbitrary arrests or detentions. Australia and Japan are also considering similar approaches. The Nordic Council, comprising Denmark, Finland, Iceland, Sweden, Norway, the Faroe Islands, Greenland, and ?land will also likely join the regime.
Source: Universal Rights Group
Africa supports Covid-19 green recovery deal
African environment ministers are supporting a green recovery plan to boost social structures and economic growth in the recovery from Covid-19.
The programme will look to enhance environmental resilience and ensure sustainable use of natural resources in the recovery. Key linkages will be public health, pollution abatement, climate action, biodiversity conservation, ecosystems integrity, socio-economic equity, and prosperity in the recovery trajectory.
African environment ministers have committed to working with the global community to ensure a "robust, ambitious and transformative post-2020 global biodiversity framework that aims at reversing biodiversity loss by 2030".
Source: UN Environment Programme
What is the Belt and Road green BRIGC coalition?
The BRIGC stands for the Belt and Road Initiative International Green Development Coalition.
It is an open, voluntary international network which brings together the environmental expertise of the coalition to drive Belt and Road long-term green and sustainable infrastructure development. It currently represents 134 partners within UN member states.
Its focus is on:
- policy coordination,
- infrastructure,
- trade,
- financial integration, and
- cultural exchanges.
It also supports research, seminars and workshops related to green Belt and Road infrastructure development.
Source: unenvironment.org
SPG 530 highlights need for ESG investment strategy and disclosure
The recent legal case brought by Mark McVeigh on behalf of superannuation members has highlighted that insufficient attention to climate considerations in investment decisions could potentially result in trustees being perceived as not discharging their "duty to protect the best financial interests of beneficiaries."
Although not binding and Australian specific, the case is also likely to drive an increased global drive for improved transparency of holdings and engagement.
Source: Investment Magazine
Fraser Island bushfire
With bushfires earlier this year still fresh in people's minds the bushfire season has kicked off in world heritage Fraser Island in a fire that has been burning since mid-October..
The fire has already destroyed half the island. Currently 90 firefighters and 24 water-bomb aircraft are involved in trying to keep the blaze under control. Tinder-dry conditions are expected to continue till the end of the week at least.
The fire also presents an existential threat to the island's Dingo (wild Australian dog) population.
Source: The Guardian