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Japan’s Government Pension Investment Fund to Support ADB’s Green Projects

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The Asian Development Bank (ADB) and Japan’s Government Pension Investment Fund (GPIF) recently formed a partnership to support green project financing through investments in ADB’s green bonds.

“We are pleased to collaborate with GPIF on this important initiative that promotes environment-related investments in Asia and the Pacific and is closely aligned with ADB’s development mandate,” ADB President Mr. Takehiko Nakao said.

ADB issues green bonds to finance projects in the Asia and Pacific region that help its developing member countries mitigate greenhouse gas emissions and adapt to the consequences of climate change. ADB issued its first green bond in 2015. It has since issued more than $6 billion equivalent green bonds in various currencies. ADB green bonds provide opportunities for institutional investors, including pension funds and asset managers, to achieve their green mandate.

The green bond investment will help GPIF fulfill its stewardship responsibilities for environment, social, and governance (ESG) investments. GPIF, the largest pension fund in the world in terms of assets under management, can support ADB’s green bond program in a substantial way.

“GPIF requires all asset managers to integrate ESG into their investment analysis and decision-making. We regard the purchase of Green, Social, and Sustainability Bonds as one of the direct methods of ESG integration in the fixed income investment. GPIF is committed to promote ESG integration through our investment chain in order to ensure the sustainable performance of the pension reserve fund for all generations,” GPIF Executive Managing Director and Chief Investment Officer Mr. Hiro Mizuno said.

Global CO2 emissions have been increasing since 2018; and Asia produces about 40% of global emissions. “Driven by continuous economic growth, accelerating urbanization, and expanding middle classes, Asia accounts for the majority of rising energy needs worldwide. It is, therefore, essential that the region plays a proactive part in global efforts to reduce emissions from houses and offices, industry, and transport,” ADB Vice-President for Finance and Risk Management Ms. Ingrid van Wees said.

ADB will scale up its support for climate change adaptation and maintain its assistance for mitigation through clean energy and energy efficiency projects and sustainable transport. Under Strategy 2030, ADB will ensure that 75% of the number of its committed operations will be supporting climate change mitigation and adaptation by 2030. Climate finance from ADB’s own resources will reach $80 billion for 2019–2030.

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Norwegian scientists finally find good news from Norilsk Nickel

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The state of the environment in the border areas is the main topic of the «Pasvikseminaret 2021», organized by the public administrator in Troms county and Finnmark in cooperation with the municipality of Sør-Varanger municipality.

The purpose of the annual Pasvik seminar is to provide the local population and local politicians all information about the environmental situation in the border area Norway – Russia. Program focused on pollution from the Nickel Plant and monitoring of the environment in the border area.

The activities of Norilsk Nickel have been the main focus of the workshop for many years.

For the first time in many years, Norwegian scientists have found only positive news from Russia.

Tore Flatlandsmo Berglen, a researcher at the Norwegian Institute for Atmospheric Research (NILU), noted a significant improvement in air quality in the border area. Berglen remembered the 70-80s of the last century, when one of the divisions of Norilsk Nickel “Pechenganikel” annually emitted 400 thousand tons of sulfur dioxide into the atmosphere, in the 90s this figure dropped to 100 thousand tons. After the closure plant in Nikel in December 2020, the content of sulfur dioxide and heavy metals in the atmosphere at the border between Norway and the Murmansk region meets all international requirements.

“And I know that these emissions from the Kola MMC will continue to decline. Compared to 2015, this figure will be 85 percent. This is very positive news. Air quality issues are being addressed in the right direction. We have been talking about this for many years and finally the problem has been resolved, emissions significantly reduced. This is the most excellent presentation I have ever make! ” – said Tore Berglen.

Earlier it was reported that Russia’s Norilsk Nickel, the world’s largest producer of nickel and palladium, closed its smelter in the city of Nickel in northern Russia at the end of 2020. Kola is a subsidiary of Norilsk Nickel on the Kola Peninsula with mines, processing plants and pellets in Zapolyarny, as well as metallurgical plants in Monchegorsk and a plant in Nikel, which closed at the end of December 2020.

The Norwegian environmentalists who participated in the workshop also noticed positive changes.

“The smelter is closed and Norilsk Nickel is working hard to become a ‘green’ metallurgical company – it reduces emissions, uses advanced technology and cooperates with Pasvik nature reserve which is our good partner in Russia. Today, a lot of interesting things are happening in the border areas. We have many common interests and there is a certain key to ensuring that everything works out for us – this is good coordination, cooperation, a large knowledge base,” said the representative of the environmental center NIBIO Svanhovd.

Other studies examining water resources, fish, berries, also prove that nature in the border area is recovering. All this testifies to the work of ecologists who care about the environment.

“We see examples of what has already been done. And this allows us to plan with confidence our future joint work, projects,” says senior adviser representative Anne Fløgstad Smeland at the county governor in Finnmark.

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New project to help 30 developing countries tackle marine litter scourge

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Litter is removed from a beach in Watamu in Kenya. UNEP/Duncan Moore

A UN-backed initiative aims to turn the tide on marine litter, in line with the global development goal on conserving and sustainably using the oceans, seas and marine resources. 

The GloLitter Partnerships Project will support  30 developing countries in preventing and reducing marine litter from the maritime transport and fisheries sectors, which includes plastic litter such as lost or discarded fishing gear. 

The project was launched on Thursday by the Food and Agriculture Organization (FAO) and the International Maritime Organization (IMO), with initial funding from Norway. 

Protecting oceans and livelihoods 

“Plastic litter has a devastating impact on marine life and human health”, said Manuel Barange, FAO’s Director of Fisheries and Aquaculture.  “This initiative is an important step in tackling the issue and will help protect the ocean ecosystem as well as the livelihoods of those who depend on it.” 

Protecting the marine environment is the objective of Sustainable Development Goal 14, part of the 2030 Agenda to create a more just and equitable future for all people and the planet. 

The GloLitter project will help countries apply best practices for the prevention and reduction of marine plastic litter, in an effort to safeguard the world’s coastal and marine resources. 

Actions will include encouraging fishing gear to be marked so that it can be traced if lost or discarded at sea. Another focus will be on the availability and adequacy of port reception facilities and their connection to national waste management systems.  

“Marine litter is a scourge on the oceans and on the planet”, said Jose Matheickal, Head of the IMO’s Department for Partnerships and Projects. “I am delighted that we have more than 30 countries committed to this initiative and working with IMO and FAO to address this issue.” 

Five regions represented 

The nations taking part in the GloLitter project are in Asia, Africa, the Caribbean, Latin America and the Pacific. 

They will also receive technical assistance and training, as well as guidance documents and other tools to help enforce existing regulations. 

The project will promote compliance with relevant international instruments, including the Voluntary Guidelines for the Marking of Fishing Gear, and the International Convention for the Prevention of Pollution from Ships (MARPOL), which contains regulations against discharging plastics into the sea.

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Paris goals still ‘long way off’

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The world is “a long way off” from meeting the goals of the landmark Paris Agreement on Climate Change, the President of the crucial upcoming UN climate conference, COP26, said on Thursday.

British politician Alok Sharma was speaking during a global discussion on the ‘green’ transition in sectors such as energy, transport and food systems, held as part of the 2021 Spring Meetings of the World Bank and the International Monetary Fund (IMF). 

“Oceans are warming, storms are intensifying, and yet we are a long way off meeting the goals of the Paris Agreement”, he told the virtual meeting.  “Unless we act now, the human, economic and environmental cost will dwarf anything that humanity has seen before.”  

John Kerry: Last chance to get serious 

COP26, which will be held this November in Glasgow, Scotland, aims to accelerate action towards the Paris treaty goals, which centre around limiting global temperature rise to 1.5 degrees above pre-industrial levels by curbing greenhouse gas emissions.   

John Kerry, US Special Presidential Envoy for Climate, called the conference “the last best opportunity we have to get real and serious.” He particularly urged developed countries to step up efforts to reduce emissions. 

“It is essential we raise ambition; we make Glasgow the next step in defining not what we’re willing to do but what we really need to do in order to be able to get the job done.” 

Prince William: Invest in nature 

For Prince William, the Duke of Cambridge, COP26 represents an opportunity to put nature at the heart of the climate fight.  He called for banks to invest in nature, noting that spending so far has been minimal.  

“We cannot recover sustainably from coronavirus, eradicate global poverty, achieve net-zero emissions, or adapt to climate change, without investing in nature”, he said. 

UN envoy on energy for all 

Energy access must also be part of the green transition, according to Damilola Ogunbiyi, Chief Executive Officer at Sustainable Energy for All (SEforALL), a UN partner.   

Globally, nearly 800 million people do not have access to electricity, while 2.8 billion lack access to clean cooking sources, she said, which is equivalent to the populations of Africa, Europe and China combined. 

To change their lives, she recommended that governments focus on policies in the areas of promoting renewable and sustainable energy, and on ease of doing business and regulations. Again, financing here is needed, together with commitment. 

“We all see that globally, when we come together, just the amazing work we can do, and the COVID vaccine is a perfect example”, said Ms. Ogunbiyi, who is also the Special Representative of the UN Secretary-General for Sustainable Energy for All. 

“We literally have to have a COVID vaccine response to help a lot of developing countries because it’s not that they don’t want to transition, or they don’t want to do the right thing. It’s a fact that if you do need to transition, there is a lot of funding that is needed.

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