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ASCOR Project Enhances Climate Finance Assessment Framework for Investor Risk Evaluation

ESGASCOR Project Enhances Climate Finance Assessment Framework for Investor Risk Evaluation

The ASCOR project has updated its assessment framework, introducing climate spending indicators to aid investors in evaluating climate risks. The framework’s Pillar 3, now called ‘climate finance,’ has been enhanced to include aspects like international finance contributions and renewable energy opportunities. The update also includes a focus on government climate action-related spending disclosure and climate budget tagging, addressing a gap in the previous framework. The updated framework features 13 sub-categories with 39 indicators, down from the initial 19 sub-categories and 55 indicators, making it more practical and fair, especially for middle and low-income countries. The tool is set for release in early December, followed by assessments for 25 countries. The project plans to expand assessments to over 100 countries from 2024.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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