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In 2019, the gaming industry emitted an estimated 24 million tonnes of carbon dioxide in the United States alone – which was the carbon footprint of the entire nation of Mongolia that year. Many of the large tech companies that manufacture games and consoles, such as Microsoft, Apple and Google, have committed to reaching net-zero by 2030.
Investors have made pledges towards netzero, they are taking action by engaging with companies, and are increasingly vocal and responsible stewards of the capital they manage. But they cannot do it alone. Consequently, investment portfolios may remain exposed to sustainability risks from climate change.
ESG Investor’s weekly round-up of news on technology and tools in the sustainable investing sector, including UNEP FI, ISS ESG, ISSB, Xpansiv and Carbon Trust. In 2019, Xpansiv acquired multi-registry environmental portfolio management system, EMA, from APX.
The recent IEA report and UNEP gap report on netzero pathways have noted how difficult it will be to achieve the 1.5°C The previous IEA netzero report included various assumptions, including an increase in land use for bio-energy crops. A credible 1.5°C C climate goal. C goal within sight.
Neither the world’s financial firepower nor the impact of climate change is spread evenly, which means funding the transition to netzero is much harder and more urgent for emerging markets and developing economies (EMDEs) compared to developed ones. . If asset owners can feel confident that their capital will make a difference. .
The group has published new data outlining their collective decarbonisation progress since the alliance launched in 2019, noting that 81 members (as of August) have set intermediate emissions reduction targets – representing 98% of the NZAOA’s US$ 9.5
UNEP FI estimates the current adaptation finance gap is around US$194-366 billion per year, and positively, Climate Policy Initiative (CPI) found last month that adaptation finance had reached an all-time high of US$63 billion, growing 28% from 2019/20.
“Based on the stocktake’s technical findings, emissions need a complete u-turn, falling by 43% by 2030, and 60% by 2035 compared to 2019 levels, ultimately reaching netzero by 2050,” said Levin.
“Their commitment must translate into tangible results within the stipulated timeframes.” The standard was developed after the failure of a tailings facility at Brumadinho, Brazil in 2019, causing 272 deaths, through an independent process convened by ICMM, the United Nations Environment Programme (UNEP) and Principles for Responsible Investment (..)
The news is disappointing to say the least, given the group’s vital role in the netzero transition and the battle against climate change, with disagreements centring around the intended tripling of renewable energy capacities by 2030, resulting in officials issuing an outcome statement rather than a joint communique.
“This year showed that climate change is an immediate direct threat to every community on this planet, and it is only going to intensify,” said Inger Andersen, Executive Director of UNEP. per cent compared to 2019. Local cities and governments have also developed codes. Green building certification has increased by 13.9
COP28 may have not delivered all it promised, but investors now have a clearer idea of how the path to netzero will impact their portfolios. reduction in CO2 emissions versus 2019, setting a course for 2.1-2.8°C After the sound , fury and compromises, what will investors remember COP28 for? The official verdict was clear.
Despite this trend, commentators like Dan Carlin, UNEP FI’s Task Force on Climate-Related Financial Disclosures (TCFD) Program Lead, have made the case for further engagement with the fossil fuel industry. In fact, the total value of the institutions divesting is estimated to be US$40.5
C this century, according to the UN Environment Programme’s (UNEP) latest Emissions Gap Report 2021: The Heat Is On. Released ahead of the UN Climate Change Conference (COP26), the latest round of climate talks taking place in Glasgow, the report finds that netzero pledges could make a big difference. Zeroing in on netzero.
“It was fascinating to see the wide range of innovative solutions each student team created when posed the same challenge: to design an IoT device that will help the world reach netzero,” said Jeff Harris, Vice President of Portfolio and Corporate Marketing at Keysight, who also served as a judge and co-sponsor of the Keysight Innovation Challenge.
F4B launched its netzero transition framework to help asset owners and other financial institutions adopt a fully integrated approach to climate and nature risks and impacts. There is an urgent need to approach the transition to both a net-zero and nature positive world in an integrated way. Complementary to TNFD.
But, as highlighted in a 2019 paper published by research and innovation lab AidData and UN-Habitat , working out where and how to invest is complicated, with a number of hard and soft costs for investors to consider. Last year, UNEP FI published guidance outlining the kinds of resilient buildings needed to cope with new climate extremes.
As of 1 July 2020, the number of cases had nearly doubled, with at least 1,550 climate change cases filed in 38 countries, according to the UNEP Global Climate Litigation Report. In 2019, an International Chamber of Commerce (ICC) task force published a report on resolving climate change-related disputes through arbitration.
Analysis from the United Nations Environment Program (UNEP) concludes that a 45% reduction in global methane emissions by 2030 is essential to limiting global warming to 1.5 Enbridge joined the ONE Future coalition in 2019, and our emissions relative to our overall value chain have consistently been within ONE Future’s target.
Spanish insurance company MAPFRE announced today that it has decided to discontinue its membership in in the Net-Zero Insurance Alliance (NZIA), marking the latest in a string of major insurers exiting the UN Environment Program (UNEP)-backed climate action-focused industry group.
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