This paper forms part of a series of publications under the Global Program on Sustainability (GPS). The series is a knowledge product of GPS Pillar 3 with the objective to promote the use of high-quality...
This paper proposes a new relative evaluation and benchmarking framework for performance linked financing instruments. It argues that the carrots and sticks of sustainability-linked bonds should not use...
This paper forms part of a series of publications under the Global Program on Sustainability (GPS). The series is a knowledge product of GPS Pillar 3 with the objective to promote the use of high-quality...
This paper discusses both the relevance of economic and social rights (ESRs) for environmental, social, and governance (ESG) investing in the sovereign debt asset class and how to start incorporating these...
Climate change and environmental risks are increasingly recognized as a concern for financial authorities, yet empirical evidence of the damage for bank balance sheets is relatively scant. This paper provides...
An ongoing challenge with Environmental, Social, and Governance (ESG) efforts is access to robust data. In response, commercial data providers are continually developing solutions to improve insight. Here...
The increasing role of the financial sector in the move toward a more sustainable economic model continues apace. The Coronavirus (COVID-19) shock shone a light on the need for all society to correct course...
It is now clear that a narrow focus on the growth of gross domestic product (GDP) is insufficient to achieve humanity’s aspirations for sustainable prosperity. Well-functioning ecosystems and educated...
With more than 40 trillion dollars of funds under sustainable management, environmental, social, and governance (ESG) investing is no longer niche investing, including in emerging market (EM) sovereign...
Sovereign ESG performance sets a benchmark for subnational investment decisions and is increasingly a driver of capital allocations. How market performance or country factors are used to evaluate performance...
The evolution of sustainable finance to mainstream finance has been motivated by a growing demand for the financial sector to play a greater role in the transformation of the current economic model into...
Environmental, social, and governance (ESG) investing is quickly becoming ordre du jour in sovereign debt investing. There remains, however, lack of clarity around frameworks for scoring sovereign ESG...
Natural capital is related to government bonds through the macroeconomy and credit risks. This paper estimates this relationship from the long-term, between-country view and the short-term, within-country...
If financial markets are to realign towards truly sustainable development the financial sector needs to differentiate commercial actors more accurately on their climate and environmental performance. A...
Recent advances in food insecurity classification have made analytical approaches to predict and inform response to food crises possible. This paper develops a predictive, statistical framework to identify...
Globally, more than 130 million people are estimated to be in food crisis. These humanitarian disasters are associated with severe impacts on livelihoods that can reverse years of development gains. The...
This paper introduces a Spatial Vector Autoregressive Moving Average (SVARMA) model in which multiple cross-sectional time series are modeled as multivariate, possibly fat-tailed, spatial autoregressive...