The environmental impact of fashion is plain to see. The industry emits 10% of total annual global emissions, equivalent to the amount produced by the European Union. Textile production generates more greenhouse gas emissions than shipping and aviation combined, and the sector is the second largest user of the world’s water. But the impact on social and human rights issues is less well-known, making it easily ignored.
Central banks undertaking major climate risk exercises By Edward Maling and Nikhil Sanghani In the past quarter, both the European Central Bank and the Bank of England undertook major exercises to judge the preparedness (and vulnerability) of their financial sectors to climate risk.
MEETINGS Promoting sovereign sustainable bond issuance in Latin America Tuesday 20 September, Roundtable OMFIF is hosting a workshop to promote sovereign sustainable bond issuance in Latin America. The objective is to help emerging market sovereign issuers from the region enter the green, social and sustainable bond markets.
ON DEMAND ECB and climate risk supervision Christoffer Kok, head of the stress test modelling division of the European Central Bank’s directorate general for macroprudential policy and financial stability, joins OMFIF to discuss the results of the bank’s supervisory climate risk stress test, approaches taken and lessons learnt.
LATEST REPORT Sustainable Policy Institute Journal In the summer edition of the journal, contributors lay out why the ‘S’ in ESG is becoming a priority for investors and why social and human rights issues are taking centre stage.
