A New Angle on Sovereign Credit Risk - UNEP Finance Initiative

Phase 1 Report www.unep.org United Nations Environment Programme P.O. Box 30552 Nairobi, Kenya Tel.: 254 20 62 1234 Fax: 254 20 62 3927 E-mail: cpiinfo@unep.org A New Angle on Sovereign Credit Risk E-RISC: Environmental Risk Integration in Sovereign Credit Analysis United Nations Environment Programme Finance Initiative (UNEP FI) UNEP FI is a unique partnership between the United Nations Environment Programme (UNEP) and the global financial sector. UNEP FI works closely with over 200 financial institutions that are signatories to the UNEP FI Statement on Sustainable Development, and a range of partner organisations, to develop and promote linkages between sustainability and financial performance. Through peer-to-peer networks, research and training, UNEP FI carries out its mission to identify, promote and realise the

adoption of best environmental and sustainability practice at all levels of financial institution operations. Global Footprint Network Global Footprint Network is an international think tank working to advance sustainability through the use of the Ecological Footprint, a resource accounting tool that measures how much nature we have, how much we use and who uses what. Global Footprint Network coordinates research, develops methodological standards and releases annual data on the Ecological Footprint and biocapacity of 232 countries and humanity as a whole. By providing robust resource accounts to track the supply of and demand on ecological assets, Global Footprint Network equips decision-makers with the data they need to succeed in a world facing tightening ecological constraints. Disclaimer Unless expressly stated otherwise, the opinions, findings, interpretations and conclusions expressed in the paper are those of the various contributors. They do not necessarily represent the decision or the stated policy of the United Nations Environment Programme, nor the views of UNEP, the United Nations or its Member States. Neither do they represent the consensus views of the member institutions of UNEP FI. The designations employed and the presentation of material in this paper do not imply the expression of any opinion whatsoever on the part of the United Nations Environment Programme concerning the legal status of any country, territory, city or area or of its authorities, or concerning delimitation of its frontiers or boundaries. Design: Instaprint, Geneva Published in 2012 by UNEP FI and Global Footprint Network Copyright © UNEP FI, Global Footprint Network UNEP Finance Initiative International Environment House 15, Chemin des Anémones 1219 Châtelaine, Genève Switzerland Tel: (41) 22 917 8178 Fax: (41) 22 796 9240 fi@unep.ch www.unepfi.org UNEP promotes Printed in Switzerland by Instaprint using vegetable-oil-based inks and environmentally sound practices FSC- (Forest Stewardship Council-) certified, elemental-chlorine- globally and in its own activities. This free paper. Permanent use of Stacatto random rastering enables publication is printed on 100% recycled paper, an ink-use reduction of 25 per cent, and a central water filtering plant reduces water and alcohol consumption by 75 per cent. using vegetable-based inks and other eco- friendly practices. Our distribution policy aims to reduce UNEP’s carbon footprint. Key Messages Sovereign bonds represent over 40 per cent of This report addresses how and why natural the global bond market, and are therefore one resource and environmental risks are becoming of the most important asset classes held by financially material...

Website: www.unepfi.org | Filesize: 4908kb
No of Page(s): 40
Download A New Angle on Sovereign Credit Risk - UNEP Finance Initiative.pdf