Today the Taskforce on Scaling Voluntary Carbon Markets announces the formation of a new, independent governance body for the voluntary carbon markets (VCMs). The announcement marks a major milestone in the Taskforce’s mission to bring greater quality and integrity to trading on VCMs. This will reduce CO2 emissions, preserve natural habitats, mobilize much-needed capital to develop sustainable technology and ultimately accelerate the transition to net zero.

Today the Taskforce on Scaling Voluntary Carbon Markets (the Taskforce), launches a new report setting out next steps to the creation of a scaled, high-integrity voluntary market for the trading of carbon credits. The Taskforce will now recruit an independent Governance Body for the market, to ensure that the voluntary carbon market serves its primary purpose of reducing greenhouse gas emissions and accelerating the transition to net zero.

For the first time since the survey’s inception over a decade ago, climate change tops the list of long-term risks for banks, according to the 11^th EY and Institute of International Finance (IIF) bank risk management survey, “Resilient banking: Capturing opportunities and managing risks over the long term.” The survey of 88 financial institutions across 33 countries provides a window into the changes in risk management seen globally during the past decade, and the major risks anticipated over the next 10 years.

Financial markets and institutions provided vital support to the global economy during the coronavirus pandemic, a new report out Monday shows. The report, The Role of Financial Markets and Institutions in Supporting the Global Economy During the COVID-19 Pandemic, shows how financial markets and institutions mitigated the economic impact of the pandemic by helping to stabilize volatile markets, cushioning the initial impact of the economic shutdown, providing much-needed credit and liquidity to customers and helping to rapidly restore confidence. The report was released by the Financial Services Forum, the Institute of International Finance, and the International Swaps and Derivatives Association.

Today the Taskforce on Scaling Voluntary Carbon Markets (the Taskforce), initiated in September 2020 by Mark Carney, UN Special Envoy on Climate Action and Finance, launches a new consultation on a market governance body, legal principles of the market, and the definition of high-quality carbon credits. Further, the Taskforce calls for initial engagement from parties interested in a role in the market’s future governance body.  

 Today, the Taskforce on Scaling Voluntary Carbon Markets formally launched the Development & Implementation Phase, with a newly formed Advisory Board and three Working Groups. This is building on the significant progress made in the Design Phase, which culminated in the blueprint published on January 27^th. Many of the participants from that phase will continue to play an active role over the coming months.

Today, following the release of the Principles for a U.S. Transition to a Sustainable Low-Carbon Economy by the U.S. Climate Finance Working Group, financial services leaders underscored the importance of a market-based policy framework to support a U.S. transition to a low-carbon economy.

Today the Institute of International Finance, as a member of the U.S. Climate Finance Working Group, published Principles for a U.S. Transition to a Sustainable Low-Carbon Economy.

The Institute of International Finance (IIF) announced today the new IIF Future Leaders Class of 2021. Participants were nominated by their firms based on a track record of achievement within their institution and their potential, in the nominating institution’s view, to become a leader in global finance.

Today the Institute of International Finance (IIF)'s Board of Directors reaffirmed their commitment to financing a climate-resilient future, and called for reliable, easily accessible and comparable datasets, metrics, methodologies, standards and frameworks to ensure that climate-related risks are appropriately managed and disclosed. To help advance these important goals, the Board of Directors has also published 10 recommendations for international regulators and policymakers.