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Transparency and Efficiency to Strengthen Public Financial Management Systems in Lebanon

Friday, April 18, 2014
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Allianz steps up investment in climate protection

22/08/2013 14:21 (238 Day 10:21 minutes ago)

The FINANCIAL -- Allianz has made a direct investment in climate protection in emerging markets for the third time since 2012. The area of Rimba Raya (translated “Infinite Forest”) spans 64,000 hectares or 640 km2, an area twice the size of Munich, and is located in the south of the island of Borneo.



This investment will protect the area of jungle in the southeast Asian country of Indonesia from the threat of deforestation and will also preserve a center dedicated to protecting the orangutan population. An agreement has been reached with the Indonesian government not to disclose the volume of the investment, according to Allianz.
Allianz's investment will help to prevent the threat of deforestation and, as a result, the emission of 90 million tons of CO2 over a 30-year period. The project will provide Allianz with certificates that it can use to offset its own emissions, meaning that the investment is to Allianz's advantage. Allianz has been operating on a 100 percent climate-neutral basis since 2012 thanks to a combination of moves to reduce its own emissions and certificates like these, according to Allianz.

"For investors like Allianz, carbon markets make it possible to finance climate protection by channeling capital to projects like Rimba Raya in developing and emerging economies," said Rod MacDonald, who is responsible for this investment at Allianz Global Investors," Now we expect the international community to develop the necessary framework for an extensive implementation of REDD," he added.

Back in 2011, Allianz became involved in a forest protection project in Kenya, the first project in the world to be given REDD (Reducing Emissions from Deforestation and forest Degradation) status. REDD projects involve the local population and ensure that any financial income is used locally, for example to build schools or finance vocational training for the local people.

This was followed, in 2012, by the investment in a project in India to replace conventional light bulbs in private households with energy-saving equivalents. Rimba Raya is the world's first REDD project to bear the triple CCB Gold Label (Climate, Community & Biodiversity Alliance) and the first that can generate certificates in line with the market-leading VCS (Voluntary Carbon Standard).

In addition to these projects, Allianz ranks among the leading investors in renewable energies, with 39 European wind farms and seven solar parks (930 MW, 1.7 billion euros), according to Allianz.



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Parliament issues strong call for EU lobby transparency register to become mandatory

16/04/2014 16:53 (1 Day 07:49 minutes ago)

The FINANCIAL -- The report approved by MEPs gives an important signal to the European Commission that a far more ambitious approach is needed to secure genuine lobby transparency in the EU, according to EUbusiness Ltd.



Attack of the Clones: New Kids on the Block Shake Up CEE Consumables Space

12/04/2014 16:44 (5 Day 07:58 minutes ago)

The FINANCIAL -- Thriving sales of cheap new-build compatible products are having a profound impact on the CEE printer and MFP consumables market, according to global market intelligence firm International Data Corporation (IDC).

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