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Sustainable Finance Roundup December 2025: Nature, Regulation, and the Hardening of Risk

This month’s sustainable finance roundup traces the shift from ambition to enforcement, as climate and nature risks become financial, regulatory and legal realities. It covers Australia’s environmental law reforms, the embedding of climate and nature risk through prudential supervision, disclosure and shareholder pressure, and insurer warnings on the limits of insurability. It also highlights how markets are responding to deforestation and biodiversity risk, and how litigation and regulation are reshaping governance and long-term financial resilience.
Article
29 December 2025

Climate finance for low carbon transport: Developing effective transport financing mechanisms for Asia and the Pacific

United Nations Economic and Social Commission for Asia and the Pacific (ESCAP)
This ESCAP policy brief examines climate finance options for scaling low-carbon transport in Asia–Pacific. It assesses funding gaps, barriers, and mechanisms—including subsidies, carbon pricing, green bonds, PPPs, and international finance—and recommends policy alignment, capacity building, investor matching, and diversified financing to accelerate investment.
Research
12 March 2024

Investing in tomorrow: A guide to building climate-resilient investment portfolios

Investment Leaders Group
This guide outlines how investors can integrate physical climate risks into listed equity and debt portfolios, strengthen portfolio resilience, and mobilise capital for adaptation through asset allocation, due diligence, engagement, and collaboration across policy, finance and the real economy.
Research
15 January 2025

ICMA DLT bonds reference guide

International Capital Market Association
ICMA’s DLT Bonds Reference Guide outlines practical considerations across the lifecycle of distributed ledger technology-based debt securities. It addresses legal, regulatory, operational, trading, settlement and investor issues, aiming to support consistent market practice and wider adoption while reducing fragmentation in global bond markets.
Research
11 December 2024

Making money talk nicely: Biodiversity impact assessment for investors

This study compares eight biodiversity impact assessment tools used by investors. It finds low consistency in company rankings due to non-standardised methods, weak transparency and limited validation, concluding that reliance on single tools risks mispricing nature-related financial risk and calling for improved disclosures and spatially explicit approaches.
Research
26 June 2025

Guidance handbook: Sustainability-linked bonds

International Capital Market Association
The ICMA Guidance Handbook (November 2024) consolidates interpretative guidance on Green, Social, Sustainability and Sustainability-Linked Bond Principles, covering use of proceeds, reporting, verification, secured bonds and market issues. It supports consistent application and market integrity across sustainable debt markets.
Research
11 April 2024

Corporate sustainability reporting

This conceptual paper examines corporate sustainability reporting, distinguishing investor-focused sustainability-related financial disclosure from broader impact reporting. It argues investor interests are imperfectly aligned with societal goals and concludes that complementary financial and impact reporting standards are needed to support accountability, capital allocation and sustainability transition.
Research
23 January 2025

A bibliometric analysis of four decades of shareholder activism research

European Corporate Governance Institute (ECGI)
This bibliometric review of 1,055 works (1983–2021) charts the evolution of shareholder activism research. It highlights a shift from financial drivers to sustainability-oriented goals. While interdisciplinarity is increasing, disciplinary silos remain. The authors advocate for holistic approaches evaluating non-financial impacts alongside traditional metrics.
Research
19 February 2025

Private capital, public good: Building shared prosperity to create a resilient and inclusive economy

US Impact Investing Alliance
The report outlines bipartisan US federal policy recommendations to mobilise private capital for shared prosperity. It focuses on strengthening economic competitiveness, scaling community investing, and improving impact transparency to support inclusive growth, underinvested communities, and long-term economic resilience.
Research
12 October 2024

Creating value from big data in the investment management process: A workflow analysis

CFA Institute
The report analyses how investment professionals use AI and big data, noting moderate but rising adoption, multihoming across tools, and key challenges including skills gaps, data quality, and model opacity. It highlights organisational priorities such as upskilling and workflow automation to enhance efficiency and decision making.
Research
7 January 2025

Harmonised framework for impact reporting for social bonds handbook

International Capital Market Association
The handbook provides a harmonised framework for issuers to report social bond impacts, outlining core reporting principles, target population disclosure, and preferred quantitative indicators. It introduces sector guidance—initially affordable housing—and offers templates to support consistent, transparent, and comparable impact reporting across social project categories.
Research
24 September 2024

Assessment of the biodiversity impacts and dependencies of globally listed companies

Finance for Biodiversity Foundation
The report assesses biodiversity impacts and ecosystem service dependencies of 2,369 globally listed companies using multiple footprinting tools. It finds impacts highly concentrated among few firms, driven mainly by climate change, pollution and land use, with food, energy and chemicals sectors prioritised for investor engagement.
Research
10 February 2024

Starting in and transitioning into sustainable finance careers

Finance relevance: Finance and Sustainability Professionals; Finance and Sustainability Students
This guide explores ways to get started in and transition into sustainable finance careers. It focuses on how professionals can build foundational knowledge, apply transferable skills, and take opportunities to create impact. Through expert insights it highlights strategies to navigate evolving roles and align finance with real sustainability outcomes.
Expert guide
19 December 2025

Briefing paper: The fiduciary duty case for climate justice

Intentional Endowments Network
The report argues that climate justice is integral to fiduciary duty, as climate and inequality risks threaten long-term value. It outlines definitions, system-level investment frameworks, and practical tools that help investors manage systemic risks and support a just low-carbon transition.
Research
26 June 2025

Institutional investment in addictive industries: An important commercial determinant of health

The study examines how Tobacco-Free Finance Pledge signatories apply exclusion policies to addictive industries. Investors show diverse thresholds, with European institutions more likely to exclude alcohol, gambling, and cannabis. Reputational and compliance considerations dominate justifications, highlighting investment decisions as significant commercial determinants of health.
Research
14 October 2024

Integrating human rights due diligence (HRDD) in finance and investment

Finance relevance: Investment professionals
This guide provides practical steps for successful investor collaborations, helping investors navigate challenges, align on objectives and leverage collective influence. Drawing from expert insights and real-world case studies, it outlines effective governance, engagement strategies and resource management to drive measurable corporate and policy change through coordinated investor action.
Expert guide
8 December 2025
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