ESG International Weekly News 11/18 - 11/24

Resource: ESG TODAY

1.COP29 Ends with Agreements on Climate Finance, Carbon Markets
第29屆氣候大會（COP29）針對氣候融資與碳交易市場達成共識
 

The COP29 climate conference in Baku, Azerbaijan concluded with an agreement to triple annual climate finance for developing nations to $300 billion by 2035, alongside significant advancements in establishing international carbon markets. A major outcome was the creation of the New Collective Quantified Goal on Climate Finance (NCQG), aiming for $1.3 trillion annually by 2035 to align global financial flows with the Paris Agreement objectives. However, details on funding sources remain unclear, with commitments including public and private sources but lacking a concrete framework. The agreement also launched the "Baku to Belém Roadmap to 1.3T" to define the financing mechanisms by COP30 in Brazil. While Simon Stiell, Executive Secretary of UN Climate Change, highlighted the new goal as essential to protect billions from climate impacts, developing nations like India criticized the $300 billion target as grossly inadequate for meaningful climate action.

The conference also marked the finalization of Article 6 under the Paris Agreement, which establishes mechanisms for international carbon market trading. Agreements included standards for a centralized carbon market and country-to-country trading guidelines under Article 6.2, detailing how carbon credits will be authorized, traded, and tracked. While environmental groups like WWF celebrated the milestone, others, such as Carbon Market Watch, raised concerns about transparency and enforcement. They warned that loopholes might allow trading of low-quality credits without consequences, potentially undermining the integrity of global carbon markets. Critics argue that the current provisions lack robust oversight, leaving countries free to bypass compliance with Article 6 rules.

第29屆氣候大會（COP29）在阿塞拜疆巴庫閉幕，會議達成協議，將發展中國家的年度氣候融資流量提高至2035年前的3000億美元，並在推進國際碳市場建設方面取得重要進展。大會通過《新集體量化氣候融資目標》（NCQG），目標到2035年每年為發展中國家提供1.3萬億美元的氣候融資，旨在將全球金融流量與《巴黎協定》的目標相結合。然而，融資來源的細節仍不明確，僅籠統提到包括公共和私人資金。會議啟動了“巴庫至貝倫1.3萬億路線圖”，目標在2025年前制定具體融資方案以提交至巴西的COP30。儘管聯合國氣候變化執行秘書西蒙·斯蒂爾稱此目標為應對氣候影響的“人類保險政策”，印度等發展中國家批評3000億美元的目標“極其不足”，無法支持有效的氣候行動。

此外，大會正式通過《巴黎協定》第6條，確立國際碳市場的交易機制，包括統一碳市場的標準以及第6.2條下國家間碳信用交易的指導方針，明確了授權、交易及追蹤的操作規則。雖然世界自然基金會等環保組織對此表示讚揚，認為此舉是碳市場發展的重要里程碑，但也有批評聲音認為現有規則存在漏洞。碳市場監測組織警告，透明性和執行力不足可能導致低質量碳信用交易被濫用，破壞碳市場的整體完整性。批評者指出，當前的規定缺乏有效監管機制，使國家能輕易規避第6條的合規要求，削弱全球碳交易的信譽。

2.EU Regulators Call on Banks, Investors to Integrate Climate Risks Following “Fit-For-55” Stress Test
歐盟金融監管機構要求銀行、投資基金測試低碳經濟轉型中的抗風險能力
 

The EU’s financial regulators have released results from the "Fit-For-55" climate stress test, evaluating how the banking, investment fund, pension, and insurance sectors might respond to a low-carbon economic transition. While transition risks alone are unlikely to destabilize the financial system, substantial losses and disruptions are possible under adverse scenarios, especially for investment funds, which could face up to 25% losses. The report underscores the need for financial institutions to integrate climate risks and calls for coordinated policies to support the green transition. Conducted by the European Supervisory Authorities (ESAs), the test examined three scenarios, including a baseline and two adverse "Run on Brown" scenarios. Total losses could reach €3.9 trillion, with an additional €1.2 trillion in contagion effects.

歐盟金融監管機構發布了“Fit-For-55”氣候壓力測試結果，分析銀行、投資基金以及養老保險部門在低碳經濟轉型中的抗風險能力。報告指出，雖然單純的轉型風險不太可能影響金融穩定，但在不利情境下，尤其是投資基金部門，可能面臨高達25%的損失。此次測試由歐洲監管機構（ESAs）進行，涵蓋三種情境，包括基準情境及兩種不利的“棕色資產拋售”情境。最嚴重的情境下，金融體系的第一輪損失約為3.9萬億歐元，加上系統連鎖效應，額外損失達1.2萬億歐元。報告強調金融機構需綜合納入氣候風險，並呼籲協調政策以支持綠色轉型。

3.EU Lawmakers Approve Regulation to Establish Carbon Removal Certification System
歐洲理事會正式批准了歐盟首個碳移除認證框架
 

The European Council has finalized the approval of the EU's first certification framework for carbon removals, including carbon farming, permanent carbon storage, and related activities. This voluntary framework aims to quantify, monitor, and verify carbon removal efforts, addressing greenwashing concerns and ensuring project credibility. Organizations must meet strict criteria for certification, including achieving measurable carbon removal benefits, ensuring long-term carbon storage, and adhering to additional sustainability goals. Certified activities will undergo third-party verification, with strong monitoring and liability mechanisms. The regulation, part of the EU Green Deal, will support the goal of achieving climate neutrality by 2050 and includes plans for an EU-wide registry to enhance transparency and traceability. The rules will take effect 20 days after publication in the EU’s Official Journal.

歐洲理事會正式批准了歐盟首個碳移除認證框架，包括碳農業、永久碳儲存及相關活動。該自願框架旨在量化、監測並驗證碳移除工作，解決漂綠問題並確保項目可信度。符合認證的組織需滿足嚴格標準，包括實現可量化的碳移除效益、確保長期碳儲存並達到額外的可持續發展目標。認證活動將接受第三方驗證，並配有強有力的監測與責任機制。此法規是歐盟綠色新政的一部分，支持 2050 年達到氣候中和目標，並計劃建立全歐盟範圍的電子登記系統以提升透明度和可追溯性。規定將在歐盟官方期刊發佈後 20 天生效並適用於所有成員國。

4.EU Commission Estimates Green Bond Investments to Reduce Emissions by 55 Million Tons per Year
歐盟委員會預計每年透過綠色債卷投資可減少每年 5500 萬噸的溫室氣體排放


The European Commission released its 2024 NextGenerationEU (NGEU) Green Bonds Allocation and Impact Report, revealing that investments funded by NGEU Green Bonds are expected to reduce greenhouse gas emissions by 55 million tons annually across the EU. Launched in 2021 as an €800 billion recovery program post-COVID-19, NGEU prioritizes sustainability, requiring 30% of its funding through green bonds and 37% of spending on climate-focused initiatives. To date, over €65 billion in green bonds have been issued, with key investment areas including energy efficiency (42%), clean transport and infrastructure (34%), and clean energy and networks (8.7%). Expanded eligibility now encompasses €265 billion in expenditures, with emissions reductions led by clean energy and networks (21.8 million tons) and clean transport (20.4 million tons).


歐盟委員會發布了 2024 年 NextGenerationEU (NGEU) 綠色債券資金分配及影響報告，顯示由該計劃資助的投資預計每年可減少歐盟 5500 萬噸的溫室氣體排放。NGEU 是於 2021 年啟動的 8000 億歐元復甦計劃，旨在推動經濟復甦並實現歐盟更綠色、更數位化及更具韌性的目標。該計劃規定 30% 的資金通過綠色債券籌措，37% 的支出用於氣候相關項目。目前已發行超過 650 億歐元綠色債券，主要投資於能源效率（42%）、清潔交通及基礎設施（34%）和清潔能源及網絡（8.7%）。隨著合資格支出的擴大，預計所有措施全面實施後，每年可減少 5470 萬噸排放，其中清潔能源和網絡將貢獻 2180 萬噸，清潔交通則貢獻 2040 萬噸。


5.IKEA Invests $1.6 Billion to Decarbonize Heating and Cooling of Stores
宜家母公司 Ingka 集團宣布投資 15 億歐元門店使用可再生供暖和製冷系統

IKEA parent company Ingka Group announced a €1.5 billion investment to phase out fossil fuels for heating and cooling its stores, focusing on energy efficiency improvements and renewable technologies. This initiative aligns with the company’s goal to reduce its operational climate footprint by 85% by 2030 and achieve renewable heating and cooling in all buildings. Heating and cooling are the largest contributors to Ingka's Scope 1 and 2 emissions, and retrofitting efforts are already underway in 150 stores, with all new units set to use renewable systems. The announcement builds on a previous €7.5 billion commitment to renewable energy investments, with over €4 billion already deployed. The company emphasizes that these investments are both environmentally impactful and financially beneficial.

宜家母公司 Ingka 集團宣布投資 15 億歐元，加速淘汰化石燃料在商店供暖和製冷中的使用，專注於能源效率改進和可再生技術。此舉與公司到 2030 年將運營氣候足跡減少 85% 的目標一致，並計劃實現所有建築使用可再生供暖和製冷系統。目前，供暖和製冷是 Ingka 集團範疇 1 和範疇 2 排放的最大來源，公司正在改造 150 家現有門店，所有新建門店將使用可再生系統。這次投資是去年承諾投資 75 億歐元於場外可再生能源的延續，已有超過 40 億歐元投入使用。公司強調，這些投資不僅對環境有利，亦能帶來長期的財務回報。