Footprint Network Blog - Footprint for Finance
Some of the economic implications of resource constraints were introduced to the world of international finance this week in London, when Global Footprint Network and the UN Environment Programme Finance Initiative (UNEP FI), in collaboration with leading financial institutions, launched the E-RISC (Environmental Risk Integration in Sovereign Credit) report at Bloomberg, a leader in global financial data.
The interactive event drew over 150 participants, including representatives from leading financial institutions, investors, asset management firms and rating agencies, including Caisse des Depots, SNS Asset Management, Standard & Poor’s, J.P. Morgan, KfW Bankengruppe, Deutsche Bank, HSBC and Barclays.
To date, tightening resource constraints and their impacts on national economies have been largely absent from financial analyses. The E-RISC report fills this gap by exploring to what extent resource and ecological risks can impact a nation’s economy and how these factors affect a nation’s ability to pay its debts.
Global Footprint Network supports the Natural Capital Declaration, a commitment made by CEOs from the finance sector to integrate natural capital accounting into their financial products and services.
Global Footprint Network is committed to creating a world where everyone can live well within the means of one planet. It is going to take all of us pulling together toward this common goal. We recognize the need to push the frontiers beyond business-as-usual and to explore more integrated approaches to finance. As financial institutions are an integral part of the economy and society, initiatives like the Natural Capital Declaration are important to help lead the way.
As people move on from the suspense, excitement, and sometimes disappointment that was Rio+20, at least one thing is clear to us—the Ecological Footprint is more important than ever in a world where international cooperation on sustainable development has not delivered everything the world hoped it would.
Global Footprint Network Science Coordinator Kyle Gracey (far right) at the Eye on Earth Panel
Energy expert Robert Rapier, the Chief Technology Officer at Merica International, writes and speaks about issues involving energy and the environment. Merica , a privately held energy company, is involved in a wide variety of projects, with a core focus on the localized use of biomass to energy for the benefit of local populations.
In this second of a two-part series on Competitiveness 2.0, one of Global Footprint Network’s strategic programs, the Consumer Energy Report columnist and author of “Power Plays: Energy Options in the Age of Peak Oil” explains below how energy constraints are becoming so central to a nation’s competitiveness.