Working in the round the environmental aspects means dealing with the general issues such as pollution in all its forms, and new sustainable financial instruments for the benefit of the environment.

Therefore, general issues related toair pollution, treated in relation to fossil energies especially in urban areas, are recalled. Included in this chapter is the sensitive topic of nuclear risk, and unconventional weapons (chemical, bacteriological and nuclear), and waste (plastic, toxic waste).

The risks to the Environment from the inappropriate behavior of multinational corporations and sovereign countries, which are potentially the source of major environmental damage : from the failure to recycle toxic waste to the Black Sea, to environmental damage accepted by nation-states as part of their military or economic policies (nuclear testing, non-adherence to international treaties, etc.) are also analyzed.

Finally, consider the importance given to Green Finance initiatives so-called "green bonds" which by definition have a cross-cutting impact on the entire Environmental area, particularly when they follow the quality standards of the CBI and Luxflag (see Labels).

Investors have a great responsibility when they participate in the capital or financing of nation-states or multinational corporations that ignore environmental issues; these are, in fact, the source of disasters (chemical leaks, Black Sea).

To this end, sustainable funds have a complex system of active monitoring of dangerous situations. Through agreements with specialized third parties, they receive "warnings" of suspicious behavior and can use the weapon at their disposal: management involvement and voting at the Assembly. With the help of specialized Foundations and Institutions, they obtain information on the main actions conducted by Society Civil towards multinational groups and then decide on the best course of action.

With reference to nation-states, exclusions and pressures are also implemented , the success of which is proportional to the financial needs of nation-states.

Sustainable fund managers use different management strategies:
The Exclusion Approach: exclusions are mainly related to two issues: failure to ratify the International Nuclear Non-Proliferation Treaty, and the unconventional weapons sector. In addition, Society and states complicit in environmental disasters or projects at all-round risk to the Environment are sanctioned.
The Thematic Approach: funds dedicated to "green bonds" have recently been introduced and group together investment solutions dedicated to the Green economy. The funds often require Society where they invest to follow globally recognized transparency standards, such as the ICMA model in particular.
One can also follow thematic funds related to new generations, which often include a chapter dedicated to "green products."
The Normative Approach: funds make particular reference to the UN Global Compact and the Nuclear Non-Proliferation Treaty.
The Best Practices-impact investing: "impact" funds align their objectives on the UN SDGs and seek impactful projects across the entire environmental area, without limitations.
Engagement: i.e., active militancy on the boards of directors or during meetings of Society responsible for environmental damage so that they take action. It is noted that this practice still struggles to be applied vis-à-vis nation-states, partly due to lack of sufficient information and means of pressure.

We currently use 130 criteria to evaluate fund action with respect to pollution and environmental protection in general.

Almost all Society are now active in engagement as it is encouraged by public authorities in the EU.

There is also a large majority of Society that has aligned its conduct on the UN Global Compact. Some, through direct participation (membership), others after a process of automatic exclusion of Society that break the principles of the Global Compact.

Finally, regarding the controversial issue of nuclear risk and unconventional weapons, there are numerous initiatives to ban Society that market or produce these types of weapons.

Regulation of polluting activities is a lynchpin of EU legislation that is matched by monitoring requirements for sustainable funds. Pollution can be traced to certain climate issues (Emissions of Polluting Gases and Materials) and management of discharges.

Funds will be required to monitor:

• Greenhouse gas emissions (Society/States):
  Carbon emissions divided into: Scope 1: Emissions generated by sources controlled by Society, such as an airline emitting exhaust gases; Scope 2: Emissions that are created by the generation of the electricity or heat needed by the company to sell its main products or provide its main services; Scope 3: All indirect emissions that are not covered by Scope 1 and 2 that occur in the value chain of the reporting company, including upstream and downstream emissions, particularly for sectors with a high impact on climate change and its mitigation.
• Carbon footprint:
  The ratio of greenhouse gas emissions to the total current value of investments.
• Greenhouse gas intensity of Society participated in.:
  The total greenhouse gas emissions of the parent company and its subsidiaries measured in metric tons of CO2, per million dollars of revenue.
• Emissions to water:
  Tons of water emissions generated by Society investees per million invested, expressed as a weighted average.
• Share of hazardous waste:
  Tons of hazardous waste generated by Society investees per million invested, expressed as a weighted average.

The EU also indicates the following indicators to be measured optionally:

• Emissions of inorganic pollutants.:
• Tons of inorganic pollutants per million invested.
• Emissions of air pollutants.:
• Tons of air pollutants per million invested.
• Greenhouse gas emissions (real estate):
• Total greenhouse gas emissions generated by real estate.
• Non-recycled waste ratio:
  Tons of non-recycled waste per million invested.
• Waste generation in operations:
  The share of real estate not equipped with waste sorting facilities and not covered by a waste recovery or recycling contract.