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Cities turn to financial innovation to reach climate neutrality by 2030
Aiming for climate neutrality while economic recovery is underway is a daunting challenge, as the transition to a net-zero emissions world requires unprecedented financial investments. Cities have a pivotal role, as they are responsible for 78% of the world’s energy consumption and produce over 60% of greenhouse gas emissions.A new JRC study that looks at…
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Germany financial sector facing dark clouds, Bundesbank warns
CompaniesDeutsche BundesbankFollowFRANKFURT, Nov 23 (Reuters) – Germany’s financial firms may be well capitalised now but face challenges ranging from rising interest expenditure and weak loan demand to unrealised losses, Bundesbank Vice President Claudia Buch said on Wednesday.Interest rates have risen at the fastest pace on record in the past year and banks have done well…
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Statera secures finance to deliver 300MW UK battery
Statera Energy has secured up to £300m of debt financing it will invest in delivering a 400MW energy storage system project in Essex, England.The first £144m phase of the financing will be used to deliver Statera’s 300MW/600 megawatt hour (MWh) Thurrock Battery Energy Storage System (BESS).The balance of the financing will fund the development of…
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Organising the asset finance industry to meet emerging economic and compliance challenges
Assessment of the economic and regulatory outlook for asset finance lenders from a leading panel of lenders from challenger banks and independents. Role of technology to mitigate increasing compliance costs and to build an efficient digital customer journey which blends automation and personal service. Ylva Oertengren presents the results of AFC’s Autumn asset finance confidence…
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Ontier incorporates Gonzalo Navarro as director of regulatory finance
Ontier has strengthened its finance and banking practices with the appointment of Gonzalo Navarro Ruiz as head of the regulatory finance area. He was previously the legal and compliance director of Portfolio Stock Exchange. Gonzalo Navarro Ruiz With more than 12 years of experience in financial regulation, securities markets and expertise in areas such as…
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Side Gigs Help Ease Paycheck-to-Paycheck Financial Stress
In today’s challenging economic climate, many consumers find themselves living paycheck to paycheck and struggling to make ends meet. This is why a significant number of these consumers have turned to supplemental income sources to improve their financial situation. According to findings detailed in The Supplemental Income Edition of “New Reality Check: The Paycheck-to-Paycheck Report”…
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Jio Financial Services seeks RBI approval to convert from NBFC to CIC; here’s what it means
Jio Financial on November 21 announced that it has submitted an application with the RBI for converting to a CIC from a non-banking financial company (NBFC) after a regulatory mandate. “This is to inform that as mandated by the Reserve Bank of India (while granting its approval for change in the shareholding pattern and control…
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Chinese shadow bank Zhongzhi faces $36bn shortfall after ‘management ran wild’
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New briefing note to help countries align private and public finance with nature goals
Istanbul and Geneva – 23rd November 2023 A year ahead of CBD COP16, UNDP BIOFIN and UNEP FI accelerate their efforts to help 136 Global South countries align private and public finance with nature goals Following the adoption of the Kunming-Montreal Global Biodiversity Framework (GBF), countries around the world are updating their National Biodiversity Strategy…
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Accelerating Urban Climate Finance in Low- and Middle- Income Countries: An important strategic dimension of MDB reform
Addressing the global climate emergency requires urgent and comprehensive solutions that scale up investment, expedite collective response efforts, and carefully assess associated risks. In recent years, Multilateral Development Banks (MDBs) have substantially increased their climate finance investments, recording an increase in the annual average from USD 57 billion in 2017/2018 to USD 93 billion in…