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When Glasgow hosted COP26 in 2021, bringing together 120 world leaders and more than 40,000 participants, the UK was seen as a world leader in the battle against climate change. In 2022, ExxonMobil committed to achieving net zero greenhouse gas emissions for operated assets by 2050. It’ll be a mess.”
Starting in 2022, CDP will also include questions for corporate disclosure around RE100 commitments. At COP26, IFRS introduced a new International Sustainability Standards Board (ISSB) to develop a comprehensive global baseline of sustainability disclosure standards.
Even so, we were reminded how far the G20 nations are from meeting their COP26 commitment to keep 1.5°C Perhaps these outcomes should not be a surprise after BlackRock, the world’s largest asset manager, described many 2022 climate resolutions as “ prescriptive or constraining ”.
Will a company’s investment take it a step closer towards a net zero world, or will it be a strandedasset tomorrow? There has been significant development on reporting standards since COP26. Sustainability reporting provides the information the markets need to make good investments, finance the transition and track progress.
SATURDAY 13 NOVEMBER – This statement is the We Mean Business Coalition response to the Glasgow Climate Pact, agreed at COP26. . An updated draft proposal was released by the COP26 Presidency this morning, on the last official day of the conference. READ THE FULL STATEMENT HERE > FRIDAY 12 NOVEMBER – ANALYSIS: .
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