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Photorealistic 16:9 wide shot of a modern industrial snow cannon spraying artificial mist onto a rocky, snowless mountain peak during a golden hour sunset, illustrating the impact of global warming on Winter Olympic venues.

The Future at Stake: How Global Warming is Transforming Winter Olympic Venues

The Winter Olympic Games represent the ultimate expression of human skill on ice and snow. However, behind the acrobatics and extreme speeds, the natural stage for these competitions faces an existential threat. The reality is direct: the global climate warms with each passing decade and cities that historically hosted these events record increasingly higher temperatures. This phenomenon deeply alters the conditions of historic venues. The rise in average February temperatures transforms what were once freezing and reliable winters into periods of climate uncertainty. For financial institutions and public policy agencies, understanding this progression is vital to evaluate long-term infrastructure viability and asset resilience against climate change. The Thermal Rise in Historic Venues A detailed analysis of cities that have served as Winter Olympic hosts since 1950 reveals a clear warming trend. The average February temperature in these locations has risen steadily over time. Today, host cities record temperature averages several degrees higher than when they first held the games. The Case of Cortina d’Ampezzo Cortina d’Ampezzo, Italy, serves as an emblematic example of this transformation. This city was the original host of the 1956 Winter Games. From that year to the present, February temperatures in the region have risen by approximately 3.6 °C. This increase shifts the freezing line and reduces the stability of the natural snowpack, which forces organizations to rethink their resource management strategies. The Lesson of Beijing 2022: The Artificial Snow Dilemma The Beijing 2022 edition marked a concerning milestone in this trend. Due to the scarcity of natural precipitation and inconsistent temperatures caused by climate change, these were the first Games to rely almost 100% on artificial snow. While technology allowed the competitions to take place, the environmental cost was immense. Millions of liters of water and a massive amount of energy were required to power snow cannons in a region already suffering from water stress. This model was unsustainable and demonstrated that, without real climate action, sporting events of this magnitude will become high-impact industrial processes instead of celebrations of nature. Why Winters are Warmer This thermal increase is a direct consequence of global warming. The planet experiences a generalized rise in temperature due to the accumulated emissions of greenhouse gases (GHG). This process makes winters progressively warmer in most mountainous and northern regions of the world. Cities that previously guaranteed extreme cold conditions now face comparatively mild Februaries. Climate change erodes seasonal reliability, affecting not only elite sports but also local economies that depend on winter tourism. The transition toward a low-carbon economy is necessary to preserve these ecosystems and the infrastructure associated with them. Toward Carbon Neutral Venues and Climate Smart Events The future of major events with high tourism demand must evolve. Mitigating damage is not enough; Olympic venues have the opportunity to transform into Carbon Neutral Venues that also host Climate Smart Events. A Climate Smart Event uses technology and citizen participation to reduce its carbon footprint to the minimum. Additionally, it promotes greater carbon sequestration through tree planting in hectares of ecological restoration projects. Given the massive influx of visitors and the media buzz they generate, these events must be participatory platforms where tourists do more than consume. They must engage actively in sustainability. We can imagine venues that function as collaborative laboratories for climate action, where transport is 100% electric, energy comes from local renewable sources, and every visitor contributes to the regeneration of the host ecosystem. A Shared Commitment: The Three Pillars of Action The magnitude of the climate challenge in winter sports indicates that we cannot leave the solution solely in the hands of organizing committees. Joint action is required under three fundamental pillars: The Time to Act is Now Climate change is not a distant spectator; it is already dictating the rules of the game in our mountains and stadiums. However, this challenge is also our greatest opportunity to innovate. Participating in a Climate Smart Event or choosing a Sustainable Destination is more than a travel choice. It is a step toward the goal of a positive future for our planet. We invite you to be more than a simple observer of climate transformation. As citizens, business leaders, and nature lovers, we have the capacity to turn every major event into a catalyst for hope and regeneration. Let us act with the same determination and passion as an Olympic athlete to protect our planet! This article was prepared by Erika Rumiche Hernández from the Green Initiative Team. Information Sources and References Related Reading

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A professional corporate interior showing a digital display with a decarbonization graph and a green holographic globe, illustrating the backcasting climate methodology for net-zero alignment.

Backcasting from Net-Zero: When to Demand Science-Based Ambition

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Net-zero alignment represents the highest level of climate ambition for modern organizations. While many firms start with incremental improvements, leading enterprises adopt a strategic methodology known as backcasting. This approach starts with a vision of a decarbonized future and works backward to identify the necessary steps to reach that goal today. For financial institutions, backcasting serves as the primary tool for identifying borrowers who are truly committed to long-term sustainability and systemic change. Traditional business planning often relies on forecasting, which projects future performance based on current trends and historical data. While useful for short-term operations, forecasting often fails to account for the radical shifts required by the global energy transition. Backcasting solves this problem by centering the planning process on a fixed, science-based destination, such as achieving net-zero emissions by 2050. This approach ensures that every interim milestone contributes directly to the final objective. Why Backcasting Matters for Climate Finance The backcasting climate methodology is essential for mitigating transition risks within a financial portfolio. As global regulations tighten and carbon prices rise, businesses that rely on incremental forecasting risk becoming stranded assets. Backcasting forces an organization to confront the structural changes needed for survival in a low-carbon economy. Financial institutions use this methodology to verify the “Net-Zero ambition” of their largest clients. It provides a rigorous framework to ensure that a company’s long-term goals are more than mere marketing claims. By demanding science-based ambition, lenders protect their capital from the volatility of the fossil fuel phase-out. How to Implement the Backcasting Process Implementing a backcasting framework requires a shift in organizational mindset from “what is likely” to “what is necessary.” Lenders should look for the following five steps in a borrower’s strategic plan. Step 1: Define the Desired Future State The process begins with a clear, time-bound definition of success. For most organizations, this is a state where GHG emissions are reduced to the absolute minimum, with any residual emissions neutralized through high-quality carbon removals. The borrower must specify the target year, typically 2040 or 2050, in alignment with the Paris Agreement. Step 2: Characterize the Decarbonized Business Model The organization must describe how it will operate in the target year. This includes identifying the primary energy sources, the level of energy efficiency achieved, and the technological innovations required. A manufacturer, for example, might envision a future state where 100% of process heat comes from green hydrogen. Step 3: Work Backward to Identify Strategic Milestones Once the destination is clear, the organization works backward to set interim targets. These milestones act as “checkpoints” to ensure the company remains on the science-based pathway. Common intervals include 5-year and 10-year targets that satisfy the requirements of the absolute contraction method. Step 4: Conduct a Gap Analysis By comparing the future state with the current operational baseline, the borrower identifies the “innovation gap.” This step highlights the specific areas where the business requires new technology, policy changes, or significant capital investment. Identifying these gaps early allows financial institutions to structure the appropriate climate finance products to bridge them. Step 5: Develop the Immediate Action Plan The final step is translating the long-term vision into immediate operational tasks. This results in a Climate-Mitigation Action Plan (CMAP) that outlines the specific investments needed over the next 12 to 36 months. This plan must align with the broader Science-Based Target Setting Methodologies. When to Demand Backcasting from Borrowers While the Forward-looking methodology is suitable for many SMEs, certain scenarios require the more rigorous backcasting approach. Lenders should prioritize backcasting in the following situations: Risk Mitigation Benefits for Financial Institutions Demanding science-based ambition through backcasting provides three critical benefits to a lender’s portfolio: Conclusion The backcasting climate methodology is the gold standard for organizations aiming for Net-Zero leadership. By starting with the end in mind, businesses move beyond incrementalism and begin the deep work of transformation. For financial institutions, verifying this ambition is the most effective way to align portfolios with the global climate transition and secure long-term financial performance. This article was written by Matheus Mendes from the Green Initiative Team. Related Reading

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Professionals reviewing a digital dashboard of real-time energy efficiency data in a sustainable industrial facility, representing the forward-looking climate methodology.

Forward-Looking Climate Methodology: A Guide for SMEs

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The transition to a low-carbon economy requires practical, actionable strategies that align with the current operational realities of a business. For many small and medium-sized enterprises (SMEs), the forward-looking climate methodology provides a realistic entry point into climate action. This approach focuses on what a company can achieve today based on its existing technical capacity and financial resources. Financial institutions increasingly favor this pragmatic path for their SME clients. It allows businesses to build momentum through immediate efficiency gains while establishing the data foundations necessary for more ambitious future targets. By focusing on tangible improvements, the forward-looking methodology turns climate mitigation into a driver of operational excellence. Understanding the Forward-Looking Climate Methodology The forward-looking approach differs from traditional science-based targets by starting with the present state of the organization. While science-based targets work backward from a future goal, this methodology looks forward from current capabilities. It prioritizes the identification of technical interventions that offer the highest greenhouse gas (GHG) reductions relative to their implementation cost. This capability-based planning is particularly effective for sectors with high operational variability. It allows managers to integrate climate goals directly into their annual capital expenditure cycles. This ensures that every sustainability initiative supports the overall financial health of the company. Step 1: Establish Your Technical Baseline Implementation begins with a thorough understanding of your current emissions profile. You must conduct a professional GHG inventory to identify the primary sources of carbon within your operations. Step 2: Identify “Quick-Win” Efficiency Gains The core of a pragmatist climate action plan is the prioritization of projects with short payback periods. These “quick wins” generate the internal buy-in and financial savings needed to fund more complex future interventions. Step 3: Conduct Technical Feasibility Studies Once you identify potential projects, you must validate their viability. Technical feasibility studies ensure that proposed interventions are compatible with your existing infrastructure. Step 4: Map Financial ROI and Carbon Impact A forward-looking climate methodology requires a clear link between environmental performance and financial sustainability. You must quantify the expected results of each intervention. Step 5: Draft the 5-Year Implementation Roadmap The final step is the creation of a Climate-Mitigation Action Plan (CMAP). This document serves as your strategic guide for the next several years. Pro Tips for Implementation Successful capability-based planning relies on continuous improvement. You should treat your first implementation cycle as a learning period. As your team gains technical expertise and your data systems become more robust, you can gradually increase the ambition of your targets. Integrating these results into your annual corporate reporting builds long-term trust with investors and clients. Conclusion The forward-looking climate methodology offers a stable and profitable pathway for SMEs to join the green transition. By starting with current capabilities and focusing on operational efficiency, businesses transform climate action into a competitive advantage. This pragmatic approach ensures that every step toward decarbonization also strengthens the financial foundation of the company. Ready to build your pragmatic climate roadmap? Contact our Team to identify your first five “quick-win” efficiency projects today. This article was written by Matheus Mendes from the Green Initiative Team. Related Reading

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Close-up of an industrial IoT sensor attached to a tree, representing automated Digital MRV (dMRV) in a forest.

MRV Systems: Building Infrastructure for Performance-Based Climate Finance

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The global transition to a net-zero economy has triggered a structural shift in climate finance. While early instruments focused on “Use of Proceeds”—where funds are earmarked for specific green projects—the market is rapidly maturing toward performance-linked products, such as Sustainability-Linked Loans (SLLs) and Sustainability-Linked Bonds (SLBs). In these structures, financial incentives—typically interest rate margins—are tied to the borrower’s achievement of predefined Sustainability Performance Targets (SPTs). To scale these instruments with integrity, financial institutions (FIs) require a robust Monitoring, Reporting, and Verification (MRV) infrastructure. As noted by the LSE Grantham Research Institute: “These margin ratchets can shift adaptation from a discretionary initiative to a priced managerial obligation, making climate resilience a financial variable rather than a reputational afterthought”. The MRV Infrastructure Roadmap: From Manual to Automated Building an MRV system for climate finance is an evolutionary journey. FIs must navigate three primary levels of sophistication to bridge the information gap between project sites and capital markets. Phase 1: Manual and Episodic Systems Traditional MRV relies on manual data collection, often involving paper logs, site visits, and spreadsheets. In this phase, verification is periodic and the “audit lag” can be significant, with verification cycles taking 12 to 24 months. While accessible for small portfolios, this manual approach is labor-intensive and prone to human error, creating asymmetric information risks that can lead to disputes over interest rate adjustments. For smallholder land-owners and project developers, these manual registration and audit costs are often “prohibitively expensive,” sometimes consuming 30–40% of total project revenues. Phase 2: Digitalized and Integrated Systems As portfolios grow, FIs transition to digitalized systems that utilize cloud-based databases and standardized reporting frameworks. This phase involves aligning borrower data with global standards like the Greenhouse Gas (GHG) Protocol and the Partnership for Carbon Accounting Financials (PCAF) to track financed emissions. Digital platforms begin to integrate third-party data, such as satellite-derived land-use changes, providing a more consistent baseline for performance tracking. Phase 3: Automated and Real-Time Systems (dMRV) The frontier of MRV infrastructure is the Digital MRV (dMRV) system. By “bridging the gap between real-world climate action and verifiable digital assets,” dMRV leverages the Internet of Things (IoT), Artificial Intelligence (AI), and blockchain. Automated sensors, such as smart meters on renewable installations, stream data directly into digital systems. This reduces verification cycles from years to months or even minutes, enabling dynamic financial modeling. Machine learning algorithms in these systems can boost audit accuracy by an estimated 79% over traditional manual samples. Infrastructure Phase Data Source Verification Cycle Primary Risk Manual Paper logs / Spreadsheets 12–24 Months Human error / Tampering Digitalized Cloud-based databases 6–12 Months Data fragmentation Automated (dMRV) IoT Sensors / Satellites 1–3 Months / Real-time Cybersecurity / Algorithm bias Core Components of the “Truth Layer” To structure performance-linked products with confidence, FIs must establish a reliable “truth layer” across three core infrastructure components: 1. High-Integrity Baselines and Performance Targets Every performance-linked product starts with a counterfactual baseline. In manual systems, research shows that median baseline uncertainty can span 171% of the mean estimate. High-integrity infrastructure uses multi-model ensemble approaches and historical geospatial data to reduce this variability and prevent over-crediting. Targets must be “SMART” (Specific, Measurable, Achievable, Relevant, and Time-bound). Furthermore, investors are increasingly distinguishing between “impact materiality” (stakeholder impact) and “financial materiality” (enterprise value) to ensure KPIs directly influence financial resilience. 2. Standardized Data Middleware Confidence requires seamless data flow between the project site and the FI’s core banking system. Middleware solutions act as “translators” between diverse digital dialects, such as mobile apps in JSON and legacy core systems in COBOL or XML. This architecture allows FIs to monitor portfolios and execute “internet audits” without disrupting their core financial data integrity. 3. Independent Verification Protocols The ultimate guarantor of trust is the third-party verifier. For performance-based finance, verifiers (VVBs) must be accredited under international standards such as ISO 14064-3 and ISO 14065. Beyond accreditation, VVBs must adhere to rigorous principles of “professional skepticism” and “impartiality,” ensuring that findings are objective and free of bias. Unlocking the “Last Mile”: The SME Finance Paradox Small and Medium-Sized Enterprises (SMEs) represent over 90% of the global productive fabric and serve as the “last mile” where national climate commitments translate into real economic action. However, a structural paradox currently restricts their access to capital: SMEs cannot access climate finance because they lack reliable emissions data and technical capacity, and they cannot build that capacity because they lack the finance to do so. Bridging this gap requires aligning financial architecture with SME realities by simplifying processes, standardizing disclosure criteria, and reducing transaction costs. Frameworks such as the Climate Mitigation Finance Guide provide actionable roadmaps to translate these transition ambitions into scalable, bankable assets for the global market. Financial Impact of Automated Infrastructure The integration of advanced technologies transforms MRV from a compliance burden into a financial strategic asset by fundamentally altering the speed and reliability of performance-based contracts. By codifying loan terms into blockchain-based smart contracts, financial institutions can automate “margin ratchets,” allowing interest rate adjustments to be triggered the moment a performance target is verified on-chain. This eliminates the traditional “audit lag” and prevents significant revenue leakage that often occurs from delayed incentive payouts. Furthermore, the use of decentralized oracles ensures that real-world sensor data is immutably bridged to these contracts, providing a single source of truth that near-eliminates audit disputes and manual back-office errors. Digital automation also serves as a critical enabler for scaling climate finance toward underserved segments. By reducing verification costs by an estimated 50–70%, automated systems make small-ticket sustainability-linked loans and micro-finance for SMEs commercially viable for the first time. Early adopters like BNP Paribas have already reported process efficiency gains of over 40% through pilot programs that minimize manual touchpoints in the loan lifecycle. This efficiency allows banks to lower the high “cost to serve” that previously barred smallholder project developers from participating in the carbon economy. Finally, the transition to continuous verification through IoT sensors and satellite imagery paves the way for sophisticated dynamic pricing models. Rather than

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A high-rise financial building transitioning into a lush green forest, overlayed with a digital globe and a rising growth chart representing science-based climate targets and sustainable finance.

Science-Based Target Setting Methodologies: A Finance Institution’s Framework for Evaluating Climate Ambition

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Financial institutions occupy a central role in the global transition toward a low-carbon economy. As lenders and investors, these organizations must distinguish between superficial environmental pledges and credible, science-based commitments. Evaluating climate ambition requires a robust framework to assess whether a borrower’s targets align with the Paris Agreement goals. This guide provides a comprehensive evaluation framework for financial institutions to assess target credibility. You will learn to compare different methodologies to structure performance-based financing instruments that drive real-world decarbonization. By the end of this article, you will understand how to transform raw emissions data into a strategic roadmap for climate-aligned lending. The Strategic Importance of Target Evaluation for Lenders Effective target evaluation protects financial portfolios from transition risks and greenwashing. When financial institutions accurately measure climate ambition, they unlock the ability to design sustainability-linked loans (SLLs) and other performance-linked products. These instruments reward borrowers who meet specific, science-based milestones with improved financing terms. The Climate-Mitigation Finance Framework (CMFF) serves as the technical foundation for this process. It enables banks and development finance institutions (DFIs) to verify that a project or company is technically consistent with international climate standards. Navigating the Technical Gap Small and medium-sized enterprises (SMEs) represent a significant portion of the real economy, yet they often lack the technical capacity to set rigorous targets. Financial institutions that provide clear target-setting frameworks help bridge this gap, turning “last mile” businesses into bankable climate leaders. This process begins by helping borrowers select the most appropriate methodology for their current climate maturity. Comparative Analysis: Forward-Looking vs. Backcasting Methodologies Financial institutions must understand two primary approaches to setting climate targets: the Forward-Looking methodology and the Backcasting methodology. Each serves a distinct purpose depending on the borrower’s maturity and industry. 1. Forward-Looking (Pragmatic) Methodology The Forward-Looking approach starts with the current capabilities of the business. It focuses on identifying immediately feasible mitigation activities that offer high returns on investment. A Forward-Looking allows firms to build momentum without overextending their technical or financial limits. 2. Backcasting (Science-Based) Methodology Backcasting begins with a defined end-state, such as Net-Zero by 2050. It works backward to determine the necessary interim targets required to stay within a specific carbon budget. For organizations ready to lead, backcasting provides a framework for identifying which borrowers are ready for this transformational approach. Feature Forward-Looking Backcasting (Science-Based) Starting Point Current operational capacity Future Net-Zero goal Primary Goal Operational efficiency Paris Agreement alignment Typical Term Short-term (1–5 years) Long-term (up to 2050) Risk Profile Predictable ROI Innovation-driven risk Evaluating Target Credibility: A 6-Step Framework The Climate-Mitigation Finance Framework (CMFF) integrates six components to manage and monitor climate actions effectively. Lenders should use this structured approach to verify the ambition and viability of a borrower’s climate targets. Step 1: Assess Climate Maturity Level (CML) The first component involves assessing the borrower’s readiness. The CML ranks organizations based on policies, institutional commitments, and their ability to measure emissions. This classification identifies technical capacity gaps and facilitates performance monitoring against financing goals. Step 2: Baseline Verification A target remains credible only if the baseline is accurate. Financial institutions must ensure the borrower has conducted a professional GHG inventory covering Scope 1, 2, and material Scope 3 emissions. The baseline year must represent normal business operations to avoid skewed results. Step 3: Assessment of Ambition Levels Lenders must determine if the proposed reduction rate meets international benchmarks. For science-based targets, the Absolute Contraction Method [LINK: Absolute Contraction Method: 4.2% Annual Reduction Explained] is a primary standard for alignment with a 1.5°C pathway. Step 4: Gap Analysis Identifying the ambition gap is critical for risk assessment. This involves comparing the borrower’s business-as-usual trajectory against their required science-based pathway. A thorough Gap Analysis helps determine how much additional climate finance is needed to reach the desired state. Step 5: Monitoring and Reporting Continuous assessment against established targets provides accountability throughout the financing lifecycle. Lenders should require regular reporting of climate-finance impacts and mitigation outcomes. Using specialized platforms like GREENIA optimizes an organization’s ability to report consistently. Step 6: Structuring Milestone-Based Financing Accountability is best ensured through phased commitments. Lenders should link financing terms to Interim Targets [LINK: Interim Targets vs. Long-Term Goals: Structuring Milestone-Based Financing] rather than distant goals. This involves: The Role of the Climate-Mitigation Action Plan (CMAP) A target without a funded action plan presents a significant credit risk. Financial institutions should require a Climate-Mitigation Action Plan (CMAP) that spans no more than five years. Components of a Bankable CMAP: Industry-Specific Considerations for Lenders Emissions profiles vary significantly by sector, and target evaluation must reflect these nuances. Tourism and Hospitality For hotels and resorts, targets often focus on energy efficiency and waste reduction. Mitigation opportunities include solar photovoltaic systems, high-efficiency heat pumps, and biomass energy systems using local organic waste. Manufacturing Industrial targets rely heavily on process electrification and efficiency improvements. Lenders should look for targets that address upgrading power plants, enhancing industrial processes, and integrating smart grids. Agriculture Agricultural targets incorporate both emissions reductions and carbon sequestration. Key activities include anaerobic digesters to convert manure into biogas, precision agriculture equipment, and reforestation projects. Pro-Tips for Portfolio Managers Financial institutions should encourage a hybrid approach for most clients. This involves using the Forward-Looking methodology to capture immediate “low-hanging fruit” while developing a science-based Backcasting strategy for long-term resilience. Furthermore, transparency in reporting is mandatory. Lenders should encourage the use of specialized platforms to ensure that data is consistent, comparable, and audit-ready. Conclusion Evaluating climate ambition is a fundamental requirement for modern financial institutions. By implementing a structured framework that compares pragmatic Forward-Looking targets with rigorous science-based Backcasting, lenders drive meaningful impact while mitigating risk. Setting these targets turns climate action from a compliance burden into a source of competitive advantage. As the global green transition accelerates, the institutions that master these methodologies will lead the portfolios of the future. Ready to evaluate your portfolio’s climate ambition? Contact us to start building your green portfolio today. This article was written by Matheus Mendes from the Green Initiative

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Peruvian delegation with official banner for the World Surfing Conservation Conference 2026.

WSCC 2026: A Global Summit for Ocean Protection and Surf Culture

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In February 2026, the global surfing community and leading ocean conservationists will descend upon Australia’s Gold Coast for a landmark event: the World Surfing Conservation Conference (WSCC 2026). Hosted by the Gold Coast World Surfing Reserve (GCWSR) and Southern Cross University, this four-day inaugural event aims to unite science, culture, and sport to safeguard the world’s waves for future generations. A World-First Milestone: Olas Perú and Carbon Neutrality The conference will showcase a global-first for the surfing industry: the participation of Roberto “Muelas” Meza and his school, Olas Perú, the first surf school in the world to be Carbon Neutral Certified. As a legendary coach and eight-time national champion, Meza is leading a delegation of students to the Gold Coast to demonstrate how the next generation of “semilleros” can balance high-performance sport with rigorous environmental standards. By achieving certification through the Green Initiative and following international ISO standards, Olas Perú provides a strategic blueprint for how surf businesses can actively measure and offset their carbon footprint. History in the Making: The San Bartolo Club Arrives The Peruvian presence at the conference is further bolstered by the arrival of the San Bartolo Club from Punta Hermosa, who recently landed on the Gold Coast to make sporting history. While veteran leaders like Muelas (Roberto Meza) and Magoo de la Rosa are returning to Australian shores, the delegation includes a talented group of “groms”—Catalina, Brianna, Alejandro, and Bastian—marking their very first visit to the region. This group is set to become the first-ever South American team to compete in the World Club Championship at Snapper Rocks, a milestone that perfectly complements the conference’s mission of fostering global surfing heritage and youth leadership. A Legacy of Champions: Felipe Pomar at Kirra The momentum for the Peruvian delegation is at an all-time high following an inspiring morning at Kirra with Felipe Pomar, Peru’s first World Champion (1965). At 82 years old, Pomar continues to be a global ambassador for the “surfing for life” philosophy, recently appearing on the Today TV morning show to discuss his enduring connection to the ocean. His presence provides a legendary backdrop for the San Bartolo Club as they prepare for their historic debut at Snapper Rocks. Event Overview A Convergence of Legends and Experts The conference features a “stacked” lineup of over 100 speakers from 20 countries. Attendees will hear from icons like seven-time World Champion Layne Beachley AO, three-time Pipe Master Tom Carroll, and surfing pioneer Wayne “Rabbit” Bartholomew. Beyond the professional athletes, the stage will be shared with world-class coastal engineers, climate scientists, and representatives from global NGOs like Save The Waves Coalition, Surfrider Foundation, and Surfers for Climate. Key Themes and Highlights WSCC 2026 isn’t just an academic gathering; it’s a movement that blends rigorous research with cultural celebration. Key topics include: Immersive Experiences The event is designed to be as vibrant as the coast itself: How to Get Involved Whether you are a researcher, a student, a professional surfer, or an ocean advocate, WSCC 2026 offers a unique platform to exchange ideas and find workable solutions for the future of our coastlines. Registration is now open. Early bird rates are available, and attendees have the chance to win prizes, including surf trips to Fiji and Indonesia. Visit wscc2026.com.au to secure your spot, view the full program, or inquire about sponsorship opportunities. Join the movement to ensure that the waves we love today are still breaking for the surfers of tomorrow. This article was prepared by the Green Initiative Team. Related Reading

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Learning to Listen to the Ocean: How Surf Education Is Shaping Environmental Awareness and Climate Action in Peru

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As climate change accelerates and ocean ecosystems face unprecedented pressure, one truth becomes increasingly clear: we cannot protect what we do not understand — and we cannot understand what we do not experience. The ocean regulates the planet’s climate, produces more than half of the oxygen we breathe, and sustains millions of livelihoods. Yet, for much of society, it remains distant — admired, consumed, or exploited, but rarely listened to. At Green Initiative, we believe that education is one of the most powerful drivers of climate action and ecosystem restoration. Not education confined to classrooms alone, but lived, experiential learning that builds respect, responsibility, and long-term stewardship. This is where the story of Roberto “Muelas” Meza — pioneer of modern surfing in Peru and founder of Olas Perú — becomes deeply relevant More than a surf coach, Muelas is an educator of the ocean. His life’s work demonstrates how sport, culture, and environmental education can converge into a practical model for sustainability and climate responsibility. From Waves to Wisdom: When the Ocean Becomes a Classroom Long before sustainability became a global agenda, Roberto Meza was already learning its core lesson from the sea: humility. As a young boy watching surfers at Makaha, he entered the ocean for the first time on a borrowed board. He didn’t stand for more than a few seconds — but he felt something that would define his life. “That feeling of floating and falling into the water changed me forever. I understood the ocean had something to teach me.” This relationship — based not on control, but on listening — would later shape an entire educational philosophy. In the early days of Peruvian surfing, there were no schools, no sponsorships, and no formal structures. Learning happened through observation, trial and error, and collective support. That sense of community and shared responsibility would become the backbone of Olas Perú decades later. Surfing as Environmental Education For Muelas, surfing stopped being just a sport when he realized its transformative power: “The ocean teaches patience, respect, humility. Those lessons matter more than any trophy.” This understanding aligns closely with Green Initiative’s approach to sustainability: lasting climate action begins with mindset change, not only metrics. Surfing teaches: In other words, it builds people capable of caring for nature, not just using it. The Birth of Olas Perú: A School for Life In 1992, Roberto Meza founded Olas Perú with a clear purpose:not to produce champions alone, but to form people of the sea. “Training a surfer is easy. Training a person of the sea is what truly matters.” Olas Perú became a space where children and young people learn: Among its first students was Sofía Mulanovich, who would later become a world champion — a powerful reminder that education rooted in values produces excellence naturally. Climate Action in Practice: Carbon Neutrality and Ocean Stewardship Today, Olas Perú is recognized as the world’s first carbon-neutral surf school, integrating: This practical commitment mirrors Green Initiative’s broader mission: transforming values into measurable, real-world climate action. “The ocean gives us everything. The least we can do is take care of it.” Rather than treating sustainability as an abstract concept, Olas Perú embodies it daily — proving that sports, education, and climate action are not separate worlds, but deeply interconnected. Listening to the Ocean: Leadership Lessons from the Sea One of Muelas’ most emblematic stories captures this philosophy perfectly. During a competition, a student was paralyzed by anxiety. Instead of giving technical advice, Muelas said: “Forget about winning. Just listen to the ocean.” The student calmed down, entered the water, and rode the best wave of his life. The lesson is simple — and universal:when we stop trying to dominate nature and start listening, better decisions follow. This applies not only to surfing, but to leadership, sustainability, and climate governance. A Shared Vision for the Future Looking ahead, Roberto Meza remains optimistic — with one condition: “The future is bright if we protect our beaches, keep our ethics, and strengthen our communities.” At Green Initiative, we share this conviction. There is no climate-positive future without education, ethics, and cultural transformation. Certifications, metrics, and technology are essential — but they must be grounded in people who truly understand their relationship with nature. Why This Story Matters Roberto “Muelas” Meza’s journey reminds us that: Teaching someone to surf, in this context, is ultimately teaching them how to live with awareness, responsibility, and respect for the planet. That is the kind of impact Green Initiative exists to support, scale, and certify — across tourism, sports, education, and beyond. 🌊 Olas Perú Questions & Answers What is Olas Perú? Olas Perú is a pioneering surf school based in Peru that integrates surf education with environmental awareness, community values, and ocean stewardship. Founded in 1992, it is recognized as the world’s first carbon-neutral surf school. Who is Roberto “Muelas” Meza? Roberto “Muelas” Meza is a pioneer of modern surfing in Peru and the founder of Olas Perú. He is an educator who uses the ocean to teach humility, responsibility, and respect for nature. How can surfing contribute to environmental education? Surfing creates direct, experiential contact with the ocean. By interacting with tides, waves, weather, and ecosystems, students develop environmental awareness and a strong sense of responsibility toward marine conservation. What does “people of the sea” mean? “People of the sea” are individuals who understand that the ocean is not something to dominate but to respect, emphasizing humility, patience, ethical behavior, and environmental stewardship. Why is experiential education important for climate action? Experiential education builds emotional connection and responsibility. Learning directly from nature transforms sustainability into a lived value, leading to more consistent and long-term climate action. What makes Olas Perú a carbon-neutral surf school? Olas Perú integrates environmental education, conservation practices, community engagement, and climate responsibility, reducing and compensating emissions while promoting ocean protection. How does surf culture relate to climate leadership? Surf culture fosters patience, adaptability, respect for natural limits, and collective responsibility, which are essential skills

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Why SMEs Still Struggle to Access Climate Finance

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From a climate perspective, we are living through a decisive moment—one in which the prioritization of the climate agenda is no longer optional. In 2024, global average temperatures surpassed 1.5°C above pre-industrial levels for the first time. Wildfires, floods, and droughts have ceased to be exceptional events and are now recurring signals of a climate transformation advancing faster than the international community has been able to respond. It is true that meaningful progress has been made toward economic decarbonization. However, this progress has not occurred at the speed or scale required. While multilateral frameworks have helped avert even more critical scenarios, the current trajectory continues to drift away from the mitigation targets necessary to stabilize the climate and reduce the systemic risks facing societies and economies worldwide. SMEs: The Missing Link in the Climate Transition In this context, small and medium-sized enterprises (SMEs) could—and should—play a far more central role in the global decarbonization agenda. SMEs account for over 90% of the global productive fabric, generate more than half of all jobs, and sustain supply chains that connect territories, sectors, and markets. Their capillary presence in cities, rural regions, and production hubs gives them a role no large corporation can replace. SMEs are the “last mile” of the climate transition—the point where national commitments translate into real economic action, and where decarbonization becomes tangible in terms of competitiveness, resilience, and long-term viability. Yet despite this central role, climate mitigation finance is not reaching SMEs at the scale or speed the climate crisis demands. A Structural Paradox in Climate Finance The paradox is clear:Climate finance exists. Commitments have multiplied. Pressure to transition toward low-carbon models continues to grow. And yet, SME participation in climate finance mechanisms remains marginal. This disconnect is not primarily due to a lack of financial resources or insufficient climate ambition. Rather, it stems from a combination of structural, technical, and operational barriers—most notably, a well-documented technical capacity gap. To access climate finance, companies must demonstrate mitigation potential in a robust and verifiable manner. This typically requires: Most SMEs simply do not have these elements in place. They lack emissions inventories, technical teams, standardized tools, and the capacity to monitor and verify impact. This mismatch between what financiers require and what SMEs can provide explains why effective demand remains low—even in the presence of abundant climate capital. The Financial Sector’s Challenge From the perspective of financial institutions, the challenge is equally significant. Without standardized, comparable, and verifiable data, it becomes difficult to assess risk, estimate mitigation returns, and structure suitable financial products. The absence of shared criteria—regarding what qualifies as a mitigation activity, how impact should be measured, or what minimum information companies must disclose—raises transaction costs and increases uncertainty. In an environment of growing regulatory pressure and transparency expectations, this gap discourages capital allocation to SMEs, despite their enormous mitigation potential. A Vicious Cycle of Exclusion The outcome is a self-reinforcing cycle: As a result, the international climate finance architecture inadvertently reproduces structural inequity. The very enterprises best positioned to deliver territorial decarbonization are those facing the greatest barriers to participation. The Opportunity We Are Missing This reality stands in stark contrast to the scale of the opportunity. SMEs can reduce emissions through: When these interventions are facilitated, supported, and scaled, their aggregate impact can significantly accelerate the transition toward resilient, low-carbon economies. Excluding SMEs does not only delay climate action—it weakens the competitiveness of key productive sectors, undermines employment, and limits alignment with international decarbonization standards that increasingly shape global trade. Why the Gap Persists—and How to Close It The central question is unavoidable: why do SMEs struggle to access climate finance? One critical answer is that current financial mechanisms were designed for companies with robust structures, specialized teams, and the capacity to comply with complex monitoring and verification standards. Until these mechanisms are adapted to the scale, realities, and dynamics of SMEs, the gap will persist. The good news is that this challenge is not irreversible. It is fundamentally a matter of strategy and opportunity. Aligning climate finance architecture with SME realities—by simplifying processes, generating reliable data, integrating technical assistance, standardizing criteria, and reducing transaction costs—is essential to unlocking their role as climate leaders. Green Initiative’s Role in Bridging the Gap In 2025, Green Initiative was recognized at the Sustainable Finance Awards as a leading organization in advancing climate-aligned financial solutions (category to be finalized). We were honored with the award for Net Zero Progression of the Year, while our own Erika Rumiche Hernández was named Rising Star Under 30 — a remarkable double recognition that underscores both our organizational impact and the leadership of the new generation. Green Initiative works globally to support financial institutions seeking to close the SME climate finance gap through: Currently, Green Initiative is collaborating with international partners on the publication of Climate Mitigation Finance: A Practical Guide for Financial Institutions & SMEs, scheduled for release in the first half of 2026. This guide aims to provide actionable frameworks that translate climate ambition into real, scalable financial access for SMEs worldwide. When financial systems evolve to meet SMEs where they are, these enterprises will not merely access climate finance—they will help lead the climate transition from the ground up, exactly where impact matters most. Ready to unlock climate finance for SMEs?Contact Green Initiative to explore how technical assistance, data transparency, and climate certification can turn ambition into bankable climate action. This article was written by Tatiana Otaviano Luiz from the Green Initiative Team. Related Reading

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A Beautiful Green Initiative Story to Inspire 2026 and Beyond

A Beautiful Green Initiative Story of Climate Leadership and Real Impact to Inspire 2026 and Beyond

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The end of a year is not a full stop, but a pause to look back, acknowledge lessons learned, and appreciate what has taken shape through effort, time, and conviction. For Erika Rumiche Hernández, 2025 was precisely that: a year in which knowledge moved beyond analysis and transformed into concrete action, even in the face of complex challenges and high-impact results. Throughout the year, experience, science, and commitment converged into a trajectory that demonstrates how climate action, when grounded in data and guided by purpose, can generate measurable and lasting impact. A Year of Action, Learning, and Impact In 2025, Erika led more than 50 multi-sector projects across 18 countries, demonstrating that measuring to reduce and committing to innovative ideas can generate real change. Her work reflects a strong belief that climate action must go beyond intention and be translated into systems, strategies, and results. Her collaborative and strategic approach reinforces her dedication to advancing toward a net-zero economy and a sustainable, nature-positive future, even in complex and diverse cultural and institutional contexts. Leadership in Climate Action and Net-Zero Strategies Erika’s work spanned data, strategies, and highly technical processes, yet it was always guided by values such as responsibility, commitment, and openness to new challenges. In a year marked globally by climate, social, and economic crises, 2025 served as a constant reminder of what truly matters. The future only makes sense when collective and innovative solutions are pursued to protect life and nature, reduce emissions, and align every action with that purpose. This principle consistently guided her professional decisions and leadership style. International Recognition: Rising Star – Under 30 One of the most significant moments of the year was receiving the Rising Star – Under 30 award from Environmental Finance. The recognition highlighted her approach of measuring to transform, building agreements among diverse stakeholders, and demonstrating that achieving net-zero emissions is possible—even in culturally and socially complex environments. As Technical Lead at Green Initiative, Erika played a central role in making Machu Picchu the world’s first carbon-neutral tourism destination, marking a global milestone for climate action in tourism. Machu Picchu as a Living Laboratory for Sustainable Tourism Machu Picchu became much more than a certified destination—it evolved into a real-world laboratory where climate action, culture, territory, and community are deeply interconnected. Second Carbon Neutral Certification (2024): Key Results Results from the second certification in 2024 showed an 18.77% reduction in GHG emissions compared to the 2019 baseline year. This was achieved through decarbonization strategies such as waste segregation, PET plastic compaction, biochar production, and the use of electric vehicles. These actions integrated circular economy principles while generating tangible local, social, and environmental benefits. Third Carbon Neutral Certification (2025): Consolidating a Replicable Model The third certification in 2025 consolidated a long-term sustainability vision applied to a UNESCO World Heritage site. The destination achieved a 7.26% reduction in GHG emissions per tourist, further strengthening the link between climate action, cultural heritage, and local communities. Machu Picchu proved that it is possible to protect humanity’s heritage while building replicable climate solutions with real impact for global tourism. Global Dialogue on a New Economy: The Economy of Francesco Beyond her role as Carbon Management Coordinator, 2025 also opened spaces for deeper reflection and broader challenges. Erika represented Green Initiative at The Economy of Francesco, an international initiative led by Pope Francis to rethink a more just, humane, and sustainable economic model. This experience connected her technical climate work with a profoundly human dialogue on the purpose of the economy and its role in collective well-being. Forest Friends: From Carbon Measurement to Ecosystem Restoration During the Extraordinary Entrepreneurial Ideas Session, Erika presented Forest Friends, a web application developed by a multidisciplinary team at Green Initiative. The platform enables individuals and organizations to measure their carbon footprint and actively contribute to ecosystem restoration by planting native trees. Forest Friends promotes a regenerative economy, turning climate responsibility into a tangible and accessible action for biodiversity protection. Prophetic Voices for a New Economy Among thousands of participants worldwide, Erika was selected to deliver a speech at the opening of the event in the Prophetic Voices for a New Economy segment. In her speech, she shared her personal journey—from her childhood in Lima, Peru, and the deep connection with nature inspired by her grandmother, to the disappearance of the Pastoruri glacier, which sparked her commitment to climate action. This path led her to study Environmental Engineering and later join Green Initiative, where she now coordinates carbon management and ecological restoration projects. Her story illustrated how personal experience, scientific knowledge, and collective action can converge into meaningful climate leadership. The Power of Collaboration and Collective Impact 2025 reaffirmed a fundamental truth: extraordinary achievements are never reached alone. Surrounding oneself with dreamers and people who turn ideas into action is essential. To achieve truly extraordinary performance, strong teams are required. This is precisely what Green Initiative represents—collaboration, trust, and positive ambition translated into measurable and lasting impact. Looking Ahead: Inspiring 2026 and Beyond As we look toward 2026 and beyond, one conviction remains clear: true impact is neither immediate nor individual. It is built step by step, with consistency, patience, and the courage to turn knowledge into action. Every recognition reflects responsibility. Every achievement expands the reach of collective work. This year-end reflection does not mark an ending, but the continuation of a story that invites belief in a sustainable future—one that always begins with the decision to act. Erika’s journey is a call to move from intention to action, reminding us that meaningful change starts with courageous choices made today, in favor of climate, nature, and future generations. Congratulations, Erika.Your journey reflects the very essence of what Green Initiative stands for: rigor, responsibility, collaboration, and purpose translated into real-world impact. Your leadership, dedication, and ability to turn knowledge into action continue to inspire teams, partners, and communities across borders. As we look ahead, your work reminds us that meaningful change is built with courage, consistency, and a deep commitment

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Machu Picchu: Restoring Nature, Inspiring Sustainability, and Leading a New Era of Climate-Positive World Heritage Tourism

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As the world seeks models for regenerative tourism and effective climate action, Machu Picchu continues to stand as a living testament to how cultural heritage and nature can be protected together. Since earning its first Carbon Neutral Certification, the Historic Sanctuary has advanced a long-term vision where conservation, ecological restoration, and sustainable tourism reinforce one another. This article presents both an analytical overview of the sanctuary’s progress and a special Q&A with Mrs. Ruth Saire, Administrator of the Machupicchu National Historic Sanctuary, whose insights highlight the strategies, values, and collaborations behind Machu Picchu’s leadership in sustainability within Peru and across the region. Restoring Degraded Areas: A Commitment That Grows Stronger Every Year The first Carbon Neutral certification represented not only a milestone but also a renewed obligation to protect and restore one of the world’s most iconic landscapes. Since then, Machu Picchu has implemented substantial ecological restoration actions: These interventions have increased vegetation cover, improved soil stability, and enhanced the sanctuary’s carbon-capture capacity, ensuring tangible progress toward its sustainability goals. A Living Classroom: How Machu Picchu Teaches Sustainability to the World Machu Picchu is more than a historical marvel—it is a dynamic space for environmental education. Through the lens of Andean cosmovisión, the sanctuary communicates values of reciprocity, respect, and balance with nature. Visitors learn sustainability through: Thus, each visit becomes an opportunity for personal and collective awareness, promoting sustainable practices far beyond Peru’s borders. A Beacon for Other Iconic Sites: Tikal, Cristo Redentor, Galápagos, and More Machu Picchu has become an influential reference point for other renowned natural and cultural destinations. Delegations from Tikal (Guatemala), Cristo Redentor (Brazil), and the Galápagos Islands (Ecuador) frequently visit to study its conservation model and sustainable tourism management. This growing exchange opens the possibility of developing a regional network of sustainable destinations, strengthening collaboration through: Such cooperation would reinforce the region’s leadership in heritage conservation and climate action. Q&A With Ruth Saire – Administradora del Santuario Histórico Nacional de Machupicchu In this interview, Ruth Saire reflects on the ecological progress achieved within the sanctuary, Machu Picchu’s impact on visitors, and the importance of collaboration with other emblematic destinations. 1. What concrete advances have been achieved in restoring degraded areas since Machu Picchu’s first Carbon Neutral certification? “Since the first certification, it has represented both recognition and continuity in our commitment to preserve and strengthen the ecological restoration of the Machupicchu National Historic Sanctuary for the world. We have reforested critical areas with native species, restored eroded zones using bioengineering techniques, controlled invasive species, and strengthened the monitoring of natural regeneration. These actions have increased vegetation cover, improved soil stability, and enhanced the Sanctuary’s capacity to capture carbon, directly contributing to our sustainability goals.” 2. From the cultural perspective, how does Machu Picchu inspire and educate visitors to adopt more sustainable habits? “From a cultural perspective, we believe that Machu Picchu is a living example of sustainability. The Andean cosmovision expressed here teaches respect, reciprocity, and harmony with nature. Visitors learn by observing how the Incas built by integrating themselves into the environment rather than against it. In addition, the interpretive signage and the work of the Historic Sanctuary’s staff reinforce messages about conservation, responsible waste management, respect for wildlife, and fire prevention. All of this inspires visitors to adopt more conscious and sustainable practices.” 3. How do you perceive the growing interest from other destinations—such as Tikal, Cristo Redentor, or Galápagos—that visit Machu Picchu to learn from its experience? What actions are needed to strengthen collaboration? “The Historic Sanctuary of Machu Picchu is often compared with destinations such as Tikal, Christ the Redeemer, or the Galápagos, and in those comparisons our image is highly positive. These destinations see us as an international benchmark in the integrated and sustainable management of cultural and natural heritage, which opens opportunities for mutual learning and technical collaboration. To strengthen this relationship, we propose establishing a permanent network of sustainable destinations, promoting exchanges among specialists, harmonizing good environmental management practices, and developing joint projects in restoration, carbon neutrality, and responsible tourism management.” Conclusion: A Legacy of Stewardship for the Planet Machu Picchu’s leadership demonstrates how ancient knowledge, scientific rigor, cultural stewardship, and international cooperation can converge into a powerful model for climate-positive world heritage tourism. With champions like Ruth Saire guiding conservation and sustainable management efforts, the sanctuary continues to protect biodiversity, inspire global travelers, and collaborate with peer destinations—helping shape a future where culture, nature, and climate action thrive together. This article was written by Musye Lucen from the Green Initiative Team. Related Reading

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