While there has always been a gap between infrastructure required and what the governments ca
The complexity and urgency of the world’s challenges require meaningful collaboration among members of the development community and other stakeholders if the goals of ending extreme poverty and promoting shared prosperity are to be realized.
During 2021, the FSB Board oversaw climate risk management and its potential to influence and inform corporate strategy and decision making. The Board is supported by the Safety, Security and Sustainability Committee (SSS) which met quarterly this year. This Board Committee has oversight of environmental and sustainability matters. The SSS Charter outlines its roles and responsibilities and includes climate change. The SSS receives briefings on the outcomes of the climate risk assessment and adaptation planning.
Most airport infrastructure was designed and constructed in the era when climate variation was not appreciated as it is today, and adaptive measures were not readily available. However, with more studies presenting financial and economic benefits from introducing preventive measures compared to reactive response post-impact, ACI recommends that airports consider:
UAE's Majid Al Futtaim listed the world’s first benchmark corporate green sukuk and first green sukuk issued by a corporate in the Middle-Eastern region with the following unique features:
Quantum Solar Park (Semenanjung) Sdn Bhd ("QSPS"), a special purpose vehicle, issued the largest solar project linked to green sukuk. The proceeds from the sukuk issuance will be used to build three large-scale solar photovoltaic plants in the states of Kedah, Melaka and Terengganu in Malaysia at a total cost of RM 1.25 billion. The projects are collectively expected to generate and supply about 282,000 MW of electricity annually to Malaysia’s electric utility company, Tenaga Nasional, under the respective power purchase agreements over a period of 21 years.
The issuance of Indonesia's US$ 1.25 billion five-year sukuk (in March 2018) is the world’s first sovereign green sukuk. That issuance is part of US$ 3 billion issuance that Indonesia managed to implement when it developed the sukuk within two months with the assistance of the World Bank. It was issued under the Indonesia's Green Bond and Green Sukuk Framework.
The national electricity grid in Indonesia has been dominated by fossil-fuelled generation. This project aims to support a scale-up of investment in geothermal energy development and is expected to contribute to: (i) displacing highly-polluting power supply alternatives and diversifying the nation’s generation portfolio; (ii) reducing reliance on fossil fuels and exposure to commodity price volatilities; and (iii) ultimately lowering the energy sector’s emissions compared to the business-as-usual scenario.
The project allows the reinforcement of the transmission system in the central zone of the country, as well as the evacuation of surplus generation from the Mantaro zone towards Lima, foreseen in the new generation projects that will start operations in that area.
The project company signed the concession contract with the Peruvian State on September 19, 2017. The contract expires after 30 years from the date the service becomes operational.