{"id":4557,"date":"2025-07-07T16:25:48","date_gmt":"2025-07-07T14:25:48","guid":{"rendered":"https:\/\/institutdelafinancedurable.com\/history-of-international-sustainable-finance\/"},"modified":"2025-07-07T16:25:48","modified_gmt":"2025-07-07T14:25:48","slug":"history-of-international-sustainable-finance","status":"publish","type":"page","link":"https:\/\/institutdelafinancedurable.com\/en\/history-of-international-sustainable-finance\/","title":{"rendered":"History of international sustainable finance"},"content":{"rendered":"<div class=\"espace pb-4 pb-lg-9\"><\/div>\n\n\t<!-- START OF : Composant : block-periscope-theme-section-composant-31-bloc-chronologie.php -->\n<div class=\"chronologie\" data-component=\"31-chronologie\">\n\t<div class=\"chronologie__timeline bg-primary\">\n\t\t<div class=\"chronologie__timeline__wrap\">\n\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">1987<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">1989<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">1992<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">1995<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">1997<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2000<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2006<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2014<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2015<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2017<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2019<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2021<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2022<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t<div class=\"chronologie__timeline__wrap__item\">\n\t\t\t\t\t\t<button class=\"btn btn-secondary btn-year\">2023<\/button>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"chronologie__view\">\n\t\t<div class=\"container chronologie__view__content\">\n\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/01\/u4522551679_A_realistic_photo_capturing_the_essence_of_sustai_e2c5fe3e-9bcc-4b24-a126-43f69ef4794c_3.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2>The Brundtland Report and the Definition of Sustainable Development<\/h2>\n<p style='text-align: left;'>In 1987, the Brundtland Report, entitled &#8216;Our Common Future&#8217;, was published by the UN World Commission on Environment and Development. This seminal document introduced and defined the concept of<strong> &#8216;sustainable development&#8217;<\/strong> as &#8216;development that meets the needs of the present without compromising the ability of future generations to meet their own needs&#8217;. This definition lays the foundations for sustainable finance, emphasizing the importance of <strong>reconciling economic growth, social progress and environmental protection.<\/strong><\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/li-an-lim-ycW4YxhrWHM-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2>Creation of the IPCC, a milestone in climate research<\/h2>\n<p><strong>The Intergovernmental Panel on Climate Change<\/strong> (IPCC) was established in 1988 under the aegis of the World Meteorological Organization (WMO) and the United Nations Environment Programme (UNEP)<span class='whitespace-nowrap'>.<\/span> The aim of this international initiative was to <strong>provide detailed scientific assessments of climate change, its causes, potential impacts and adaptation and mitigation strategies<span class='whitespace-nowrap'>. <\/span><\/strong>Since its creation, <strong>the IPCC has published six major assessment reports<\/strong>, the first in 1990 and the most recent in 2021-2023<span class='whitespace-nowrap'>.<\/span> These reports, drawn up by hundreds of scientists from all over the world, synthesize the most recent knowledge on climate and serve as the basis for international political decisions in the fight against climate change.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2024\/08\/american-public-power-association-eIBTh5DXW9w-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'>The Rio Summit and the Three Pillars of Sustainable Development<\/h2>\n<p>The 1992 Rio<strong> Earth<\/strong> Summit marked a decisive turning point in the conceptualization of sustainable development. At this United Nations conference on the environment and development,<strong> 182 countries<\/strong> came together to discuss the future of the planet<span class='whitespace-nowrap'>.<\/span> It was on this occasion that<strong> sustainable development took on its current definition<\/strong>, articulated around three fundamental pillars:<\/p>\n<ol class='marker:text-textOff list-decimal pl-8'>\n<li>Economic progress<\/li>\n<li>Social justice<\/li>\n<li>Preservation of the environment<\/li>\n<\/ol>\n<p>This tripartite approach aims to reconcile economic growth,<strong> social equity and environmental protection<\/strong><span class='whitespace-nowrap'>.<\/span> The summit also established key principles, such as<strong> &#8216;Think globally, act locally&#8217;<\/strong> and the precautionary principle<span class='whitespace-nowrap'>.<\/span><strong> The Rio Declaration<\/strong>, adopted at the end of the summit, stresses that environmental protection must be an integral part of the development process and cannot be considered in isolation.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/anthony-reungere-sjUufQqEnHI-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'>First COP Climate in Berlin, a Milestone for International Climate Action<\/h2>\n<p class='my-0' style='text-align: left;'><strong><button class='hover:duration-80 duration-800 cursor-pointer text-left align-baseline inline underline decoration-textOff\/25 decoration-1 underline-offset-[5px] animate-underlineFade after:content-[&quot;&quot;] hover:text-super hover:decoration-super\/80 hover:underline-offset-[7px] dark:decoration-textOffDark\/30 dark:hover:text-superDark dark:hover:decoration-superDark\/80 transition-all motion-reduce:transition-none appearance-none bg-transparent border-0 p-0 m-0 [td_&amp;]:table-cell align-baseline' type='button' data-state='closed'>The first Conference of the Parties (COP1) on climate change<\/button><\/strong> was held in Berlin from <strong>March 28 to April 7, 1995<\/strong>. This event marked the <strong>start of a series of annual conferences<\/strong> aimed at coordinating global efforts to combat global warming. Organized under the aegis of the United Nations, COP1 brought together <strong>197 nations and territories<\/strong> signatory to the<strong> United Nations<\/strong> Framework Convention<strong> on Climate Change (UNFCCC)<\/strong>.<\/p>\n<p class='my-0' style='text-align: left;'>Chaired by <strong>Angela Merkel<\/strong>, then German Environment Minister, the conference laid the <strong>foundations for future international climate negotiations<\/strong>. Although it did not result in any concrete measures, COP1 enabled the 120 governments present to <strong>acknowledge the seriousness of the climate situation<\/strong> and the need to reduce greenhouse gas emissions.<\/p>\n<p class='my-0' style='text-align: left;'>A major outcome of the conference was the adoption of the <strong>&#8216;Berlin Mandate&#8217;<\/strong>, which recognized the inadequacy of existing commitments and launched discussions on more ambitious targets. This mandate paved the way for the negotiations that would lead two years later to the <strong>Kyoto Protocol<\/strong>.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/guy-bowden-lVDnLUACI18-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'>The Kyoto Protocol, Pioneer of Climate Finance Mechanisms<\/h2>\n<p class='my-0'><strong><button class='hover:duration-80 duration-800 cursor-pointer text-left align-baseline inline underline decoration-textOff\/25 decoration-1 underline-offset-[5px] animate-underlineFade after:content-[&quot;&quot;] hover:text-super hover:decoration-super\/80 hover:underline-offset-[7px] dark:decoration-textOffDark\/30 dark:hover:text-superDark dark:hover:decoration-superDark\/80 transition-all motion-reduce:transition-none appearance-none bg-transparent border-0 p-0 m-0 [td_&amp;]:table-cell align-baseline' type='button' data-state='closed'>On December 11, 1997, the Kyoto Protocol was adopted<\/button><\/strong> at the <strong>3rd Conference of the Parties (COP3) in Kyoto, Japan<\/strong>. This international agreement marked a <strong>decisive turning point in the fight against climate change<\/strong> and laid the <strong>foundations for modern climate finance<\/strong>. For the first time, the Kyoto Protocol introduces <strong>binding greenhouse gas emission reduction targets<\/strong> for industrialized countries. It also establishes <strong>innovative financial mechanisms<\/strong> linked to the reduction of carbon emissions, including :<\/p>\n<ol class='marker:text-textOff list-disc'>\n<li>\n<p class='my-0'><strong><button class='hover:duration-80 duration-800 cursor-pointer text-left align-baseline inline underline decoration-textOff\/25 decoration-1 underline-offset-[5px] animate-underlineFade after:content-[&quot;&quot;] hover:text-super hover:decoration-super\/80 hover:underline-offset-[7px] dark:decoration-textOffDark\/30 dark:hover:text-superDark dark:hover:decoration-superDark\/80 transition-all motion-reduce:transition-none appearance-none bg-transparent border-0 p-0 m-0 [td_&amp;]:table-cell align-baseline' type='button' data-state='closed'>The carbon market<\/button><\/strong>, enabling emissions trading between countries.<\/p>\n<\/li>\n<li>\n<p class='my-0'><strong><button class='hover:duration-80 duration-800 cursor-pointer text-left align-baseline inline underline decoration-textOff\/25 decoration-1 underline-offset-[5px] animate-underlineFade after:content-[&quot;&quot;] hover:text-super hover:decoration-super\/80 hover:underline-offset-[7px] dark:decoration-textOffDark\/30 dark:hover:text-superDark dark:hover:decoration-superDark\/80 transition-all motion-reduce:transition-none appearance-none bg-transparent border-0 p-0 m-0 [td_&amp;]:table-cell align-baseline' type='button' data-state='closed'>The Clean Development Mechanism (CDM)<\/button><\/strong>, promoting investment in emission reduction projects in developing countries.<\/p>\n<\/li>\n<li>\n<p class='my-0'><strong><button class='hover:duration-80 duration-800 cursor-pointer text-left align-baseline inline underline decoration-textOff\/25 decoration-1 underline-offset-[5px] animate-underlineFade after:content-[&quot;&quot;] hover:text-super hover:decoration-super\/80 hover:underline-offset-[7px] dark:decoration-textOffDark\/30 dark:hover:text-superDark dark:hover:decoration-superDark\/80 transition-all motion-reduce:transition-none appearance-none bg-transparent border-0 p-0 m-0 [td_&amp;]:table-cell align-baseline' type='button' data-state='closed'>Joint Implementation (JI)<\/button><\/strong>, facilitating emission reduction projects between developed countries.<\/p>\n<\/li>\n<\/ol>\n<p class='my-0'>Although signed in 1997, the Kyoto Protocol <strong>only came into force in 2005<\/strong>, following ratification by Russia. This late implementation underlines the <strong>political and economic challenges<\/strong> involved in adopting binding climate measures on a global scale.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2024\/01\/scott-graham-OQMZwNd3ThU-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'><em>Carbon Disclosure Project<\/em>, Pioneer in Environmental Transparency<\/h2>\n<p data-start='0' data-end='356'><strong data-start='0' data-end='186'>In 2000, the <em>Carbon Disclosure Project<\/em> (CDP) was born, marking a crucial step in the evolution of sustainable finance and corporate environmental responsibility.<\/strong> This British non-governmental organization quickly established itself as a major player in the promotion of transparency in environmental impact.<\/p>\n<p data-start='358' data-end='626'>The <strong data-start='361' data-end='368'>CDP<\/strong> &#8216;s mission is to <strong data-start='394' data-end='508'>collect, analyze and disseminate information on the environmental footprint of companies and governments<\/strong>, with a particular focus on <strong data-start='540' data-end='588'>greenhouse gas (GHG) emissions.<\/strong> Its innovative approach consists of :<\/p>\n<ul data-start='628' data-end='947'>\n<li data-start='628' data-end='743'><strong data-start='630' data-end='741'>Encouraging companies and governments to voluntarily disclose their environmental data.<\/strong><\/li>\n<li data-start='744' data-end='850'><strong data-start='746' data-end='848'>Develop standardized methodologies for measuring and reporting environmental impacts.<\/strong><\/li>\n<li data-start='851' data-end='947'><strong data-start='853' data-end='945'>Provide this information to investors, policy-makers and the general public.<\/strong><\/li>\n<\/ul>\n<p data-start='949' data-end='1325' data-is-last-node='' data-is-only-node=''>By centralizing this data and making it accessible, <strong data-start='1008' data-end='1086'>the CDP plays a crucial role in raising awareness of climate issues<\/strong> and guiding investment decisions towards more sustainable practices. <strong data-start='1174' data-end='1325' data-is-last-node=''>Its work contributes significantly to the integration of environmental criteria into corporate strategies and public policies.<\/strong><\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/nick-chong-N__BnvQ_w18-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'>Launch of the UNPRI, a turning point for Responsible Investment<\/h2>\n<p><strong data-start='0' data-end='143' data-is-only-node=''>In April 2006, the United Nations Principles for Responsible Investment (UNPRI) were officially launched on the New York Stock Exchange<\/strong>, marking a crucial step in the evolution of sustainable finance.<br data-start='212' data-end='215' \/>This UN-backed initiative aims to encourage the financial sector to <strong data-start='294' data-end='369'>integrate Environmental, Social and Governance (ESG) criteria<\/strong> into their investment and management practices.<\/p>\n<h6>UNPRI is based on six key principles to which signatories commit themselves:<\/h6>\n<ol>\n<li><strong data-start='2' data-end='32'>Integrate ESG issues<\/strong> into investment analysis and decision-making processes.<\/li>\n<li><strong data-start='110' data-end='143'>Be active investors<\/strong> and take ESG issues into account in their shareholder policies and practices.<\/li>\n<li><strong data-start='238' data-end='272'>Require invested entities<\/strong> to publish appropriate information on ESG issues.<\/li>\n<li><strong data-start='340' data-end='398'>Promote acceptance and application of the Principles<\/strong> among asset management stakeholders.<\/li>\n<li><strong data-start='446' data-end='469'>Work together<\/strong> to increase efficiency in applying the Principles.<\/li>\n<li><strong data-start='536' data-end='570'>Report individually<\/strong> on their activities and progress in implementing the Principles.<\/li>\n<\/ol>\n<p data-start='647' data-end='1119' data-is-last-node='' data-is-only-node=''>Since its creation, <strong data-start='667' data-end='711'>UNPRI has grown steadily<\/strong>. By 2023, UNPRI signatories are responsible for over <strong data-start='777' data-end='818'>$100,000 billion in assets<\/strong> worldwide, including some of the world&#8217;s largest and most influential investors. This massive membership demonstrates <strong data-start='937' data-end='981'>the growing importance of ESG criteria<\/strong> in the financial sector, and the central role played by UNPRI in promoting responsible investment on a global scale.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/jackie-hutchinson-JJYzJXbwB20-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'>The <em>Montreal Carbon Pledge<\/em>, a pioneering commitment to climate finance<\/h2>\n<p data-start='0' data-end='312'><strong data-start='0' data-end='186'>In September 2014, at the annual Principles for Responsible Investment (PRI) Conference in Montreal, a groundbreaking initiative was born: the <em>Montreal Carbon Pledge<\/em>.<\/strong> This initiative marks a turning point in the financial sector&#8217;s commitment to the fight against climate change.<\/p>\n<p data-start='314' data-end='646'>The <em><strong data-start='317' data-end='343'>Montreal Carbon Pledge<\/strong><\/em> represents an unprecedented voluntary commitment by institutional investors. For the first time, <strong data-start='464' data-end='493'>120 major investors<\/strong> have made a formal commitment to <strong data-start='520' data-end='619'>measure and publicly disclose the carbon footprint of their investment portfolios<\/strong>. This commitment aims to :<\/p>\n<ul data-start='648' data-end='856'>\n<li data-start='648' data-end='725'><strong data-start='650' data-end='679'>Increase transparency<\/strong> on the climate impact of investments<\/li>\n<li data-start='726' data-end='794'><strong data-start='728' data-end='792'>Encourage better management of carbon-related risks<\/strong><\/li>\n<li data-start='795' data-end='856'><strong data-start='797' data-end='854'>Facilitate the transition to a low-carbon economy<\/strong><\/li>\n<\/ul>\n<p data-start='858' data-end='1191'>The initiative quickly gained in popularity, attracting signatories representing <strong data-start='947' data-end='1008'>over $10,000 billion in assets under management<\/strong> in the years that followed. It played a crucial role in <strong data-start='1069' data-end='1135'>raising the financial sector&#8217;s awareness of climate issues<\/strong>, and paved the way for more ambitious commitments.<\/p>\n<p data-start='1193' data-end='1585' data-is-last-node='' data-is-only-node=''>Although the <strong data-start='1205' data-end='1267'><em>Montreal Carbon Pledge<\/em> officially came to an end in 2019<\/strong>, its impact endures. It has been a <strong data-start='1301' data-end='1353'>catalyst for other climate initiatives<\/strong> in the financial sector, such as the <strong data-start='1390' data-end='1428'>Net Zero Asset Managers Initiative<\/strong> and the <strong data-start='1435' data-end='1468'>Net Zero Asset Owner Alliance<\/strong>, which continue and deepen the financial sector&#8217;s commitment to the fight against climate change.<\/p>\n<h2 class='mb-2 mt-6 text-lg first:mt-3'>The <em>Green Bond Principles<\/em>, a Framework for Green Bonds<\/h2>\n<p>In 2014, a crucial step was taken in the development of green finance with the establishment of the <em>Green Bond Principles<\/em> (GBP). These principles, initially drawn up by a consortium of leading investment banks, lay the foundations for best practice in green bond issuance.<\/p>\n<h6>The <em>Green Bond Principles<\/em> are built around four key components:<\/h6>\n<ol class='marker:text-textOff list-decimal pl-8'>\n<li>Use of funds<\/li>\n<li>Project selection and evaluation process<\/li>\n<li>Fund management<\/li>\n<li><em> Reporting<\/em><\/li>\n<\/ol>\n<p data-start='145' data-end='543'>These voluntary guidelines aim to <strong data-start='189' data-end='248'>promote the integrity of the green bond market<\/strong> by recommending <strong data-start='268' data-end='351'>transparency, disclosure and standardization of practices<\/strong>. They provide a <strong data-start='370' data-end='388'>flexible framework<\/strong> for issuers to design credible green bonds, and for investors to assess the environmental impact of their investments.<\/p>\n<p data-start='545' data-end='862'>Since their creation, responsibility for the <strong data-start='591' data-end='642'>updating and ongoing development of the GBPs<\/strong> has been transferred to the<strong data-start='664' data-end='715'><em>International Capital Market Association<\/em> (ICMA)<\/strong>. This independent organization ensures that the principles remain relevant and adapted to the rapidly evolving green finance market.<\/p>\n<p data-start='864' data-end='1291' data-is-last-node='' data-is-only-node=''><strong data-start='866' data-end='902'>The impact of the Green Bond Principles<\/strong> has been considerable. They have contributed to the <strong data-start='946' data-end='1007'>exponential growth of the green bond market<\/strong> by providing a common structure and clear guidelines for issuers and investors. <strong data-start='1120' data-end='1159'>In 2021, the GBPs were updated<\/strong> to reflect the latest market developments and reinforce their role in <strong data-start='1240' data-end='1290'>promoting a net zero emissions economy<\/strong>.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/filtergrade-TZ63XfVx_uE-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'>COP21 and the Paris Agreement, a Turning Point for Climate Finance<\/h2>\n<p><strong data-start='0' data-end='57' data-is-only-node=''>The 21st Conference of the Parties (COP21) in Paris in 2015<\/strong> marked a historic moment in the fight against climate change, culminating in the adoption of <strong data-start='161' data-end='182'>the Paris Agreement<\/strong> on December 12. This agreement, <strong data-start='211' data-end='235'>ratified by 195 countries<\/strong>, establishes a <strong data-start='248' data-end='264'>global framework<\/strong> for international climate efforts.<\/p>\n<h6>The Paris Agreement sets three main objectives:<\/h6>\n<ul data-start='0' data-end='395'>\n<li data-start='0' data-end='169'><strong data-start='2' data-end='55'>Limiting the global temperature increase to<\/strong> &#8216;well below&#8217; 2\u00b0C above pre-industrial levels, with efforts to limit it to 1.5\u00b0C.<\/li>\n<li data-start='170' data-end='252'><strong data-start='172' data-end='212'>Strengthen capacities to adapt<\/strong> to the impacts of climate change.<\/li>\n<li data-start='253' data-end='395'><strong data-start='255' data-end='286'>Align financial flows<\/strong> with development that is low in greenhouse gas emissions and resilient to climate change.<\/li>\n<\/ul>\n<p data-start='397' data-end='710' data-is-last-node='' data-is-only-node=''><strong data-start='399' data-end='437'>Article 2.1.c of the Paris Agreement<\/strong> is particularly innovative, explicitly calling for <strong data-start='497' data-end='562'>financial flows to be aligned with climate objectives<\/strong>. This provision recognizes the <strong data-start='595' data-end='632'>crucial role of the financial sector<\/strong> in the transition to a <strong data-start='670' data-end='709'>low-carbon, climate-resilient<\/strong> economy.<\/p>\n<h6>The Agreement also provides for:<\/h6>\n<ul class='marker:text-textOff list-disc pl-8'>\n<li>An upward revision of national commitments (NDCs) every five years.<\/li>\n<li>A target of mobilizing $100 billion a year from 2020 to support developing countries.<\/li>\n<li>A transparency mechanism to monitor countries&#8217; progress.<\/li>\n<\/ul>\n<p>The Paris Agreement thus represents a major turning point in the integration of climate considerations into global financial and economic decisions, laying the foundations for a profound transformation of the global financial system towards sustainability.<\/p>\n<h2 class='mb-2 mt-6 text-lg first:mt-3'>The SDGs, a Global Framework for Sustainable Development<\/h2>\n<p data-start='0' data-end='249'><strong data-start='0' data-end='146'>In September 2015, the United Nations reached a historic milestone by adopting the 17 Sustainable Development Goals (SDGs),<\/strong> establishing an ambitious and universal reference framework for global action up to 2030.<\/p>\n<p data-start='251' data-end='599' data-is-last-node='' data-is-only-node=''>The <strong data-start='255' data-end='262'>SDGs<\/strong>, an integral part of the<strong data-start='296' data-end='311'>Agenda 2030<\/strong>, represent a <strong data-start='329' data-end='353'>global action plan<\/strong> aimed at <strong data-start='363' data-end='445'>eradicating poverty, protecting the planet and ensuring prosperity for all<\/strong>. These goals are distinguished by their <strong data-start='485' data-end='507'>universal scope<\/strong>, addressing all <strong data-start='538' data-end='561'>countries and players<\/strong>, whether <strong data-start='577' data-end='598'>public or private<\/strong>.<\/p>\n<h6>Key features of the SDGs :<\/h6>\n<ul data-start='0' data-end='631'>\n<li data-start='0' data-end='185'><strong data-start='2' data-end='18'>Universality<\/strong>: Unlike the Millennium Development Goals that preceded them, the SDGs apply to <strong data-start='130' data-end='147'>all countries<\/strong>, developed and developing alike.<\/li>\n<li data-start='186' data-end='346'><strong data-start='188' data-end='203'>Integration<\/strong>: The <strong data-start='210' data-end='246'>17 goals are interconnected<\/strong>, covering the <strong data-start='272' data-end='318' data-is-only-node=''>economic, social and environmental<\/strong> dimensions of sustainable development.<\/li>\n<li data-start='347' data-end='474'><strong data-start='349' data-end='365'>Measurability<\/strong>: <strong data-start='368' data-end='413'>169 specific targets and 244 indicators<\/strong> have been defined to monitor progress in concrete terms.<\/li>\n<li data-start='475' data-end='631'><strong data-start='477' data-end='492'>Inclusivity<\/strong>: The process of developing the SDGs involved a wide range of stakeholders, including <strong data-start='578' data-end='628'>businesses via the UN Global Compact<\/strong>.<\/li>\n<\/ul>\n<p data-start='633' data-end='918'>The <strong data-start='637' data-end='644'>SDGs<\/strong> offer a <strong data-start='656' data-end='697'>common language and shared vision<\/strong> of sustainable development, serving as a guide for <strong data-start='746' data-end='835'>governments, businesses, financial institutions and civil society<\/strong> in their efforts to create a <strong data-start='869' data-end='915'>more equitable and sustainable world by 2030<\/strong>.<\/p>\n<p data-start='920' data-end='1144' data-is-last-node='' data-is-only-node=''>This initiative marks a <strong data-start='947' data-end='967'>decisive turning point<\/strong> in the global approach to development, recognizing <strong data-start='1027' data-end='1067'>the interdependence of global challenges<\/strong> and the need for <strong data-start='1090' data-end='1110'>concerted action<\/strong> at all levels of society.<\/p>\n<h2 class='mb-2 mt-6 text-lg first:mt-3'>First Financial Commitments for Coal Phase-out<\/h2>\n<p data-start='0' data-end='224'><strong data-start='0' data-end='43'>2015 marked a decisive turning point<\/strong> in the financial sector&#8217;s commitment to the fight against climate change, notably through <strong data-start='150' data-end='221'>the first concrete coal divestment initiatives<\/strong>.<\/p>\n<p data-start='226' data-end='301'>Several major financial players are making pioneering commitments:<\/p>\n<ul data-start='303' data-end='752'>\n<li data-start='303' data-end='428'><strong data-start='305' data-end='312'>AXA<\/strong> announced its intention to <strong data-start='338' data-end='379'>divest 500 million euros<\/strong> of investments in the coal industry.<\/li>\n<li data-start='429' data-end='589'><strong data-start='434' data-end='463'>Norway&#8217;s sovereign wealth fund<\/strong>, the world&#8217;s largest, decides to <strong data-start='503' data-end='586'>withdraw from companies with more than 30% of their activities linked to coal<\/strong>.<\/li>\n<li data-start='590' data-end='752'><strong data-start='592' data-end='603'>Allianz<\/strong> declares that it <strong data-start='618' data-end='669'>will stop financing coal-related projects<\/strong> and will gradually divest from companies with high exposure to this sector.<\/li>\n<\/ul>\n<p data-start='754' data-end='1024'>These decisions mark <strong data-start='777' data-end='849'>the start of a trend that will gather momentum in the years ahead<\/strong>. They reflect a <strong data-start='871' data-end='953'>growing awareness of the financial risks associated with carbon assets<\/strong>, as well as a desire to <strong data-start='979' data-end='1021'>contribute to the energy transition<\/strong>.<\/p>\n<p data-start='1266' data-end='1501' data-is-last-node='' data-is-only-node=''>Although limited at the time, these initiatives laid <strong data-start='1320' data-end='1402'>the foundations for a broader movement to divest from fossil fuels<\/strong> in the financial sector, in <strong data-start='1430' data-end='1500'>line with the objectives of the Paris Agreement signed the same year<\/strong>.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/shane-rounce-DNkoNXQti3c-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h2 class='mb-2 mt-6 text-lg first:mt-3'>The <em>One Planet Summit<\/em>, a Global Climate Initiative<\/h2>\n<p><strong data-start='0' data-end='134' data-is-only-node=''>On December 12, 2017, two years to the day after the adoption of the Paris Agreement, the first <em>One Planet Summit<\/em> is being held in Paris.<\/strong> This initiative, launched by <strong data-start='167' data-end='205'>French President Emmanuel Macron<\/strong> in collaboration with the<strong data-start='230' data-end='237'>UN<\/strong> and the <strong data-start='244' data-end='263'>World Bank<\/strong>, marks a milestone <strong data-start='276' data-end='332'>in international mobilization<\/strong> to combat climate change.<\/p>\n<h6>Key features of the summit :<\/h6>\n<ul class='marker:text-textOff list-disc pl-8'>\n<li>Participation of over 50 heads of state and government, as well as numerous non-state actors.<\/li>\n<li>Main objective: to accelerate implementation of the Paris Agreement and mobilize financing for climate action.<\/li>\n<li>Adoption of 12 concrete international commitments, covering various aspects of the fight against climate change.<\/li>\n<\/ul>\n<h6>Among the major commitments made at the summit:<\/h6>\n<ol data-start='0' data-end='547'>\n<li data-start='0' data-end='168'><strong data-start='2' data-end='72'>Mobilization of research and young people in favor of the climate<\/strong>, notably through the <em data-start='97' data-end='127' data-is-only-node=''>One Planet Laureates Program<\/em> and scholarships for young researchers.<\/li>\n<li data-start='169' data-end='301'><strong data-start='171' data-end='219'>Creation of a Space Climate Observatory<\/strong> to improve monitoring and understanding of climate change.<\/li>\n<li data-start='302' data-end='423'><strong data-start='304' data-end='381'>Commitments<\/strong> by several financial institutions<strong data-start='304' data-end='381'>to divest from coal and other fossil<\/strong> fuels.<\/li>\n<li data-start='424' data-end='547'><strong data-start='426' data-end='486'>Launch of initiatives to green the financial sector<\/strong> and direct financial flows towards sustainable projects.<\/li>\n<\/ol>\n<p data-start='549' data-end='908' data-is-last-node='' data-is-only-node=''>The <em><strong data-start='552' data-end='573'>One Planet Summit<\/strong><\/em> established a <strong data-start='586' data-end='634'>new model for international cooperation<\/strong>, bringing together <strong data-start='647' data-end='676'>public and private players<\/strong> around<strong data-start='686' data-end='719'>common climate objectives<\/strong>. It gave rise to <strong data-start='739' data-end='767'>concrete commitments<\/strong> and launched a momentum that has continued with subsequent editions in <strong data-start='846' data-end='908' data-is-last-node=''>New York (2018), Nairobi (2019) and again Paris (2021).<\/strong><\/p>\n<h2 class='mb-2 mt-6 text-lg first:mt-3'>Launch of FC4S, a Sustainable Finance Network<\/h2>\n<p>In September 2017, the international network of Financial Centres <em> for<\/em> Sustainability <em>(<\/em> FC4S) was officially launched in Casablanca, Morocco. This initiative marks an important milestone in the global coordination of efforts to promote sustainable finance.<\/p>\n<h6>Key features of FC4S at launch:<\/h6>\n<ol data-start='0' data-end='1008'>\n<li data-start='0' data-end='110'><strong data-start='2' data-end='13'>Origin<\/strong>: Born out of the <strong data-start='25' data-end='63' data-is-only-node=''>Italian presidency of the G7 in 2017<\/strong>, where green finance was a central theme.<\/li>\n<li data-start='111' data-end='314'><strong data-start='113' data-end='133'>Initial objective<\/strong>: To answer the question <em data-start='159' data-end='312' data-is-only-node=''>&#8216;How can financial centers contribute to achieving the Sustainable Development Goals and the Paris Climate Agreement?&#8217;<\/em><\/li>\n<li data-start='315' data-end='564'><strong data-start='317' data-end='339'>Founding members<\/strong>: <strong data-start='342' data-end='367' data-is-only-node=''>11 financial centers<\/strong> adopted the <strong data-start='380' data-end='455'>Casablanca Declaration on Financial Centers for Sustainability<\/strong>, including <strong data-start='462' data-end='561'>Astana, Casablanca, Dublin, Hong Kong, Milan, London, Luxembourg, Paris, Shanghai and Stockholm<\/strong>.<\/li>\n<li data-start='565' data-end='801'><strong data-start='567' data-end='578'>Mission<\/strong>: to <strong data-start='581' data-end='628' data-is-only-node=''>accelerate the expansion of sustainable finance<\/strong> by enabling financial centers to <strong data-start='666' data-end='733'>assess their current state and provide the tools needed<\/strong> to engage local institutions and inform policy.<\/li>\n<li data-start='802' data-end='1008'><strong data-start='804' data-end='825'>Rapid growth<\/strong>: The network has grown rapidly, from <strong data-start='877' data-end='924' data-is-only-node=''>11 members in 2017 to 41 members today<\/strong>, demonstrating <strong data-start='937' data-end='1005'>the increasing interest in sustainable finance on a global scale<\/strong>.<\/li>\n<\/ol>\n<p data-start='1010' data-end='1283' data-is-last-node='' data-is-only-node=''><strong data-start='1013' data-end='1021'>FC4S<\/strong> plays a crucial role in <strong data-start='1051' data-end='1166'>promoting international cooperation and sharing best practices in sustainable finance<\/strong>, contributing to <strong data-start='1188' data-end='1282'>the alignment of financial flows with climate and sustainable development goals<\/strong>.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/mathias-reding-yfXhqAW5X0c-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<div>\n<div class='border-borderMain\/50 ring-borderMain\/50 divide-borderMain\/50 dark:divide-borderMainDark\/50 dark:ring-borderMainDark\/50 dark:border-borderMainDark\/50 bg-transparent'>\n<div class='mb-md'>\n<div class='relative default font-sans text-base text-textMain dark:text-textMainDark selection:bg-super\/50 selection:text-textMain dark:selection:bg-superDuper\/10 dark:selection:text-superDark'>\n<div class='min-w-0 break-words [word-break:break-word]'>\n<div dir='auto'>\n<h2 class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>Creation of the <em>Net-Zero Asset Owner Alliance<\/em> (NZAOA)<\/h2>\n<div><\/div>\n<div class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'><strong data-start='0' data-end='138' data-is-only-node=''>In September 2019, at the United Nations Climate Action Summit, the <em>Net-Zero Asset Owner Alliance<\/em> (NZAOA) is officially launched.<\/strong> This initiative marks a <strong data-start='167' data-end='224'>crucial step in the financial sector&#8217;s commitment<\/strong> to the fight against climate change.<\/div>\n<div><\/div>\n<h6 class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>Main objective:<\/h6>\n<p class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>To ensure the transition of investment portfolios to carbon neutrality by 2050, in line with the Paris Agreement and the limitation of global warming to 1.5\u00b0C.<\/p>\n<div><\/div>\n<h6 class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>Founding members:<\/h6>\n<div class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>Allianz, Caisse des D\u00e9p\u00f4ts, CDPQ, Folksam Group, PensionDanmark, Swiss Re.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div><\/div>\n<div><\/div>\n<div>\n<div class='border-borderMain\/50 ring-borderMain\/50 divide-borderMain\/50 dark:divide-borderMainDark\/50 dark:ring-borderMainDark\/50 dark:border-borderMainDark\/50 bg-transparent'>\n<div class='mb-md'>\n<div class='relative default font-sans text-base text-textMain dark:text-textMainDark selection:bg-super\/50 selection:text-textMain dark:selection:bg-superDuper\/10 dark:selection:text-superDark'>\n<div class='min-w-0 break-words [word-break:break-word]'>\n<div dir='auto'>\n<h6 class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>Rapid growth :<\/h6>\n<div class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>\n<ul class='marker:text-textOff list-disc pl-8'>\n<li>2020 : Over $9,000 billion in assets under management<\/li>\n<li>2025: 88 members, $9.5 trillion in assets under management<\/li>\n<\/ul>\n<\/div>\n<h6 class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>Key commitments:<\/h6>\n<div class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>\n<ul class='marker:text-textOff list-disc pl-8'>\n<li>Interim targets every five years<\/li>\n<li>Financed emissions reduction of 6% per year<\/li>\n<li>2023: $175 billion invested in climate solutions<\/li>\n<\/ul>\n<\/div>\n<div class='prose dark:prose-invert inline leading-normal break-words min-w-0 [word-break:break-word]'>\n<p data-start='0' data-end='193'><strong data-start='3' data-end='12'>NZAOA<\/strong> plays a <strong data-start='26' data-end='87'>catalytic role in the decarbonization of the global economy<\/strong>, encouraging <strong data-start='102' data-end='145'>industry best practice<\/strong> and influencing <strong data-start='161' data-end='190'>regulatory frameworks<\/strong>.<\/p>\n<p data-start='195' data-end='450' data-is-last-node='' data-is-only-node=''>The <em><strong data-start='198' data-end='231'>Net-Zero Asset Owner Alliance<\/strong><\/em> represents a <strong data-start='247' data-end='292'>significant part of the global finance industry<\/strong>, demonstrating <strong data-start='305' data-end='352'>the financial sector&#8217;s growing commitment<\/strong> to the fight against climate change and the transition to a <strong data-start='425' data-end='449'>low-carbon economy<\/strong>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class='mt-sm flex items-center justify-between'>\n<div class='flex items-center gap-x-xs'>\n<div class='flex items-center gap-xs border-borderMain\/50 ring-borderMain\/50 divide-borderMain\/50 dark:divide-borderMainDark\/50 dark:ring-borderMainDark\/50 dark:border-borderMainDark\/50 bg-transparent'>\n<div class='flex items-center min-w-0 justify-center gap-xs'><\/div>\n<div class='flex items-center min-w-0 justify-center gap-xs'><\/div>\n<\/div>\n<div class='flex items-center min-w-0 justify-center gap-xs'><\/div>\n<div class=''>\n<div class='flex items-center min-w-0 justify-center gap-xs'><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=''>\n<div class='mt-lg border-t pt-lg duration-1000 ease-out animate-in fade-in border-borderMain\/50 ring-borderMain\/50 divide-borderMain\/50 dark:divide-borderMainDark\/50 dark:ring-borderMainDark\/50 dark:border-borderMainDark\/50 bg-transparent'>\n<div class='border-borderMain\/50 ring-borderMain\/50 divide-borderMain\/50 dark:divide-borderMainDark\/50 dark:ring-borderMainDark\/50 dark:border-borderMainDark\/50 bg-transparent'>\n<div class='flex items-center justify-between border-borderMain\/50 ring-borderMain\/50 divide-borderMain\/50 dark:divide-borderMainDark\/50 dark:ring-borderMainDark\/50 dark:border-borderMainDark\/50 bg-background dark:bg-backgroundDark'>\n<div class='mb-sm flex w-full items-center justify-between'>\n<div class=''>\n<div class='flex items-center space-x-sm'>\n<div class='default font-display text-lg font-medium text-textMain dark:text-textMainDark selection:bg-super\/50 selection:text-textMain dark:selection:bg-superDuper\/10 dark:selection:text-superDark'>\n<div class='w-[24px]'><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/noah-buscher-x8ZStukS2PM-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h3 class='my-0'>Creation of the International Sustainability Standards Board (ISSB)<\/h3>\n<div class='flex max-w-full flex-col flex-grow'>\n<div class='min-h-8 text-message flex w-full flex-col items-end gap-2 whitespace-normal break-words text-start [.text-message+&amp;]:mt-5' dir='auto' data-message-author-role='assistant' data-message-id='b5c182b1-f653-4123-9027-eaceb5d9467a' data-message-model-slug='gpt-4o'>\n<div class='flex w-full flex-col gap-1 empty:hidden first:pt-[3px]'>\n<div class='markdown prose w-full break-words dark:prose-invert light'>\n<p data-start='0' data-end='211'>The<strong data-start='2' data-end='10'>ISSB<\/strong> is launched in <strong data-start='24' data-end='41'>November 2021<\/strong> by the <strong data-start='49' data-end='67'>IFRS Foundation<\/strong> at <strong data-start='79' data-end='98'>COP26 in Glasgow<\/strong>. This organization aims to <strong data-start='121' data-end='187'>develop global sustainability reporting standards<\/strong> for companies.<\/p>\n<p data-start='213' data-end='536' data-is-last-node='' data-is-only-node=''>Its main objective is to<strong data-start='242' data-end='283'>establish a global baseline<\/strong> for <strong data-start='328' data-end='353'>sustainability-related<\/strong> disclosures to <strong data-start='372' data-end='394'>financial markets<\/strong>. The<strong data-start='398' data-end='406'>ISSB<\/strong> is working <strong data-start='420' data-end='445'>closely<\/strong> with other standards bodies, and will publish <strong data-start='498' data-end='535'>its first standards in June 2023<\/strong>.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/marcos-paulo-prado-pYW7Qmvro7A-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h3 class='my-0'>COP15 Biodiversity and the Kunming-Montreal Agreements<\/h3>\n<p class='my-0'>COP15 on biodiversity will be held in December 2022 in Montreal, Canada. It will result in the adoption of the Kunming-Montreal Agreements, a global framework for biodiversity protection. Its main objective is to halt and reverse biodiversity loss by 2030.<\/p>\n<h6 class='my-0'><strong>Key targets :<\/strong><\/h6>\n<ul class='marker:text-textOff list-disc'>\n<li>\n<p class='my-0'>Protect 30% of land and sea<\/p>\n<\/li>\n<li>\n<p class='my-0'>Restore 30% of degraded ecosystems<\/p>\n<\/li>\n<\/ul>\n<h6 class='my-0'>Implications for business :<\/h6>\n<ul class='marker:text-textOff list-disc'>\n<li>\n<p class='my-0'>Target 15: Assessment and disclosure of impacts on biodiversity<\/p>\n<\/li>\n<li>\n<p class='my-0'>Target 19: Mobilize financial resources<\/p>\n<\/li>\n<\/ul>\n<h6 class='my-0'>Financial commitments :<\/h6>\n<ul class='marker:text-textOff list-disc'>\n<li>\n<p class='my-0'>Mobilize $200 billion per year for biodiversity<\/p>\n<\/li>\n<li>\n<p class='my-0'>Redirect $500 billion in harmful subsidies<\/p>\n<\/li>\n<\/ul>\n<p class='my-0'>These agreements mark a turning point in the global commitment to nature conservation, directly involving private players.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t\t\t\t<article class=\"chronologie__view__content__item\">\n\t\t\t\t\t\t<aside class=\"chronologie__view__content__item__aside\">\n\t\t\t\t\t\t\t<div class=\"chronologie__view__content__item__aside__content\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" src=\"https:\/\/institutdelafinancedurable.com\/wp-content\/uploads\/2025\/02\/guillaume-de-germain-6Xw9wMJyHus-unsplash-scaled.jpg\" alt=\"\" \/>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/aside>\n\t\t\t\t\t\t<div class=\"chronologie__view__content__item__infos\">\n\t\t\t\t\t\t\t<div class=\"wysiwyg\">\n\t\t\t\t\t\t\t\t<h3 class='my-0'>Adoption of IFRS S1 and S2 by ISSB<\/h3>\n<p class='my-0'>In June 2023, the<em> International Sustainability Standards Board<\/em> (ISSB) will adopt its first sustainability <em>reporting<\/em> standards: IFRS S1 and S2. The aim is to establish a global benchmark for sustainability reporting.<\/p>\n<h6 class='my-0'><strong>Key features :<\/strong><\/h6>\n<ul class='marker:text-textOff list-disc'>\n<li>\n<p class='my-0'>Voluntary application by jurisdictions<\/p>\n<\/li>\n<li>\n<p class='my-0'>Equivalent to technical advice<\/p>\n<\/li>\n<li>\n<p class='my-0'>Initial focus on climate<\/p>\n<\/li>\n<\/ul>\n<h6 class='my-0'><strong>Standards adopted :<\/strong><\/h6>\n<ul class='marker:text-textOff list-disc'>\n<li>\n<p class='my-0'>IFRS S1: General sustainability disclosures<\/p>\n<\/li>\n<li>\n<p class='my-0'>IFRS S2: Climate-specific disclosures<\/p>\n<\/li>\n<\/ul>\n<h6 class='my-0'><strong>Future developments :<\/strong><\/h6>\n<ul class='marker:text-textOff list-disc'>\n<li>\n<p class='my-0'>Biodiversity and ecosystems research project<\/p>\n<\/li>\n<li>\n<p class='my-0'>Research project on human capital<\/p>\n<\/li>\n<\/ul>\n<p class='my-0'>These standards mark an important step towards global harmonization of sustainability reporting, with planned expansion to other environmental and social issues.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/article>\n\t\t\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\t<!-- END OF : Composant : block-periscope-theme-section-composant-31-bloc-chronologie.php -->\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":4021,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-4557","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - 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