Guild of European Research-Intensive Universities is a European network representing leading research-intensive universities. It works with EU institutions to shape research, innovation and higher education policy through evidence-based advocacy, position papers, events and collaboration on Europe’s research and funding priorities.

EuroGeoSurveys (EGS) is a not-for-profit association representing national geological surveys across Europe.EGS provides geoscience data, research and policy-relevant expertise on raw materials, groundwater, energy transition and geohazards, supporting European decision-making through EU-funded projects, shared data infrastructure and coordinated scientific collaboration across member organisations.

Integrated Carbon Observation System (ICOS) is a European research infrastructure providing long-term, high-precision observations of greenhouse gases. ICOS delivers open, standardised climate and carbon cycle data through its Carbon Portal, supporting climate science, modelling, and evidence-based policy across Europe and neighbouring regions.

The European Commission clarifies that the EU sustainable finance framework and Corporate Sustainability Due Diligence Directive apply neutrally to the defence sector. Defence investments are permitted, assessed case by case, with disclosure and due diligence obligations focused on risk mitigation and exclusion limited to internationally prohibited weapons.

The report outlines the EU’s White Paper on European Defence and the ReArm Europe Plan, targeting defence readiness by 2030 through closing capability gaps, strengthening the defence industrial base, and mobilising over €800 billion via public, EU, and private funding mechanisms.

Bpifrance’s European Defence Bond Framework defines principles for issuing use-of-proceeds bonds financing eligible defence-sector projects, mainly SMEs, to support European sovereignty. It details eligibility criteria, exclusions, ESG safeguards, governance, reporting, and proceeds management, while stating the bonds are not ICMA-aligned sustainable instruments.

The NATO Innovation Fund advocates removing financial exclusions on defence to bolster European security. The report recommends reforming procurement for rapid dual-use technology adoption and implementing a ‘Responsible Use Framework’ to ensure ethical development of emerging capabilities like AI and autonomous systems.

The report examines how asset owners integrate nature and biodiversity into investment. Based on interviews with 20 global asset owners and managers, it finds growing recognition of financial materiality, limited governance and data maturity, early TNFD adoption, and reliance on climate-aligned ESG processes.

The study shows only transformative sustainability initiatives predict higher future profitability and generate positive abnormal stock returns. Advocacy, preparation and standard ESG ratings do not. Markets initially mispriced transformative actions, but learning gradually eliminated the alpha by 2022.

GARP benchmarks 13 vendors’ asset-level climate physical risk models, finding wide dispersion in hazard and damage estimates due to differing data, assumptions and methods. The report stresses due diligence, transparency and improved asset data when selecting vendors.

This CFRF report presents nine case studies demonstrating how quantitative climate scenario analysis informs financial decisions. It assesses physical and transition risks across assets, sectors and geographies, translating climate pathways into impacts on valuations, credit risk and losses to support risk-based decision-making.

The study analyses sustainability reports from major listed companies to assess alignment with Paris climate targets. Using natural language processing, it finds alignment depends on the type of actions taken. Firms prioritising innovation and energy transition outperform those focused on risk mitigation.

This supplement outlines a framework for classifying financial products by sustainability objectives under MiFID II. It defines ESG target markets, minimum exclusions, PAIs, and alignment with SFDR and Taxonomy rules across securities, funds, bonds, and certificates.

Mirova assesses Europe’s defence rearmament and examines how responsible investors could contribute without undermining ESG principles. It argues for selective financing, strict exclusions, and innovative tools such as defence bonds, while maintaining focus on environmental transition and European sovereignty.

The report evaluates 3D investing, extending mean–variance optimisation to include sustainability. It shows how integrating forward-looking climate metrics enables portfolios to balance risk, return, and decarbonisation, supporting alignment with Paris-aligned net-zero pathways under realistic investment constraints.

This guide explains Corporate Sustainability Reporting Directive physical risk requirements, detailing scope, timelines and ESRS E1 disclosures. It outlines how organisations must identify, assess and report climate-related physical risks, financial impacts and adaptation actions, with a focused application to real estate portfolios.