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Good morning, this is Kasmira, and today we’re turning to calls for central banks to urgently address risks related to biodiversity loss.

One of Geneva’s big multinationals, Japan International Tobacco, is rethinking the ownership of its headquarters close to the city’s international quarter.

Meanwhile, the European Union’s sweeping climate action plan revealed last week agitated the aviation industry. The boss of its Geneva-based representative body speaks out.

photo journaliste

Kasmira Jefford, Geneva

19.07.2021


Sustainable business & finance


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A sloth in Costa Rica’s Miravalles-Jorge Manuel Dengo National Park. WWF’s highlights the urgency for central banks and financial supervisors to act on the risk of unprecedented nature loss to which they are also exposed. (Keystone/EPA/Jeffrey Arguedas)

🦋 🏦 Biodiversity loss: a risky business for central banks. A new report by WWF, with contributions from the IUCN among others, highlights the urgency for central banks and financial supervisors to act on the risk of unprecedented nature loss. With biodiversity loss not only compounding climate-related risks but a global crisis in its own right, the report warns that current practices of only integrating climate-related risks and impacts in existing mandates of central banks and financial supervisors, and not including risks from nature loss, fall short in ensuring a sustainable financial system.

Geneva Solutions (EN)

Here's what else is happening


Image of the day


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(Keystone/Martial Trezzini)

Japan Tobacco International considers selling Geneva HQ. Japan Tobacco International has begun the process towards a possible sale and leaseback of its building in Sécheron, which opened in 2015. It would become a tenant of the space it currently occupies. Such a transaction would not call into question the commitment of the multinational to the City of Calvin, a spokesperson told AWP, but instead would help "optimise resources".

Agefi (EN)

Industry reacts to EU climate plan


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Photo credit: Keystone/EPA/Patrick Pleul

🛫 Willie Walsh, IATA’s director general was responding to the European Union’s proposal to tax kerosene. The bloc announced a raft of climate change plans last week aimed at pushing it towards its goal of becoming carbon neutral by 2050. The industry body boss said taxation as a solution for reducing aviation emissions was counter-productive to the goal of sustainable aviation.

Travel Daily News (EN)

Next on the agenda


📌 19 July | Trade and environmental sustainability structured discussions. Launched in November 2020, this initiative at the World Trade Organization aims to identify areas of work through an exchange with other organisations, civil society and the private sector.

WTO (EN)

📌 21 July | Global launch webinar: A legal framework for impact report. This event will cover the findings from a report by Freshfields Bruckhaus Deringer on the opportunities and barriers of investing in sustainability impact.

UNPRI (EN)

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