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C above pre-industrial levels, according to the United Nations Environment Programme (UNEP). In May 2021, the formerly fossil-fuel-friendly International Energy Agency issued a report stating there was no longer any “need for investment in new fossil fuel supply in our netzero pathway.
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. The first-ever mention of “transitioning away from fossil fuels” in COP final text was regarded as a major milestone on the path to netzero, even by those who acknowledged its multiple caveats.
climate action and investments, as public and private sector leaders raise their ambition, deliver on commitments, implement policies to capitalize on the opportunities in the necessary transition to a zero emissions future, and ensure public finance to support adaptation and resilience for developing nations. November 3, 2022 /3BL Media/ -
“Investors and companies are increasingly setting climate and nature targets, but once those are in place, they need to be thinking more about how to redirect capital [in line with these goals],” Ivo Mulder , Head of the Climate Finance Unit at the UN Environment Programme (UNEP), told ESG Investor. trillion in 2022.
The proposed solution for netzero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. But there is still room for hope that netzero commitments – and subsequent progress on decarbonisation – can be transparent, aligned and ambitious.
This is the assessment of Eric Usher, Head of the UN Environment Programme Finance Initiative (UNEP FI) which brings together the United Nations and the financial sector to develop responsible investment agendas. For example, the NetZero Asset Owners Alliance is not led by sustainability teams, it’s typically CIOs who are driving it.”.
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. Carbon Trust has launched Route to NetZero Standard, a three tier certification system that will rank companies’ progress to netzero.
This is well below the US$387 billion a year that developing countries need, according to the United Nations Environment Programme (UNEP)’s Adaptation Gap Report. One of the ways to increase funding, according to UNEP, is for the Loss and Damage Fund to move toward more innovative financing mechanisms. MDBs provided about US$5.5
SDSN is proud to have contributed to Chapter 6 "Transforming food systems" of UNEP's2022 Emissions Gap Report thanks to our FABLE Consortium scientific director Aline Mosnier. In the best-case scenario, full implementation of unconditional NDCs and additional net-zero emissions commitments point to only a 1.8°C
Alliance extends netzero targets to capital markets activities, as frameworks provide more tailored approach for banks’ transition strategies. Founded in April 2021 by UNEP FI, the NZBA has 143 members overseeing US$74 trillion in capital. As both thresholds were “comfortably cleared”.
For those of us in the building industry, it means a steadfast urgency to accelerate our commitment to drive the total carbon of buildings to zero. The latest UNEP Emissions Gap Report found that as a global society we still do not have a credible pathway to achieve our common goal of limiting global temperature increase to 1.5°C.
Jam open the closing window – The UN Environment Programme’s Emissions Gap Report 2022 was the most sobering of the many pre-COP27 analyses published this week, highlighting the inadequacy of our efforts to tackle the causes of climate change. Current pledges will nudge global warming down from its present 2.8°C C course to 2.5°C
The UN Environment Programme’s (UNEP) 2023 Emissions Gap Report – aptly titled ‘Broken Record’ – clearly states that the world is a long way from limiting global warming to 1.5°C Adaptation bonds are among the potential vehicles for private investment, but policy action is still needed at COP28.
According to the UN Environment Programme – Finance Initiative (UNEP FI), the finance sector has ground to make up too, albeit at least some of the responsibility for this also sits with governments. Private sector investment in nature had swollen to US$102 billion by May 2024, an eleven-fold increase on May 2022, apparently.
trillion AUM. “The alliance is doing exactly what it set out to do ,” Remco Fischer, Climate Lead at the UN Environment Programme Finance Initiative (UNEP FI), told ESG Investor. in 2022 compared to the previous year.
“Our strong new climate risk standard gives regulators powerful new tools to protect consumers and our planet,” said California Insurance Commissioner Ricardo Lara , co-chair of the bipartisan NAIC Climate and Resiliency Task Force that adopted the TCFD standard in 2022. insurance market, which is the largest in the world.
According to the United Nations Environment Programme (UNEP), buildings accounted for 34% of global energy demand and were responsible for approximately 37% of energy-related CO₂ emissions in 2022 , presenting a significant opportunity for savings through advanced efficiency measures.
Originally published in Enbridge's 2022 Sustainability Report Methane In order for natural gas to contribute to the energy transition effectively, it’s vital that the industry continue to advance its current work to mitigate methane emissions associated with natural gas production and transmission.
US-based Rivian Automotive cancelled its proposed 20% price hike for existing reservations in early 2022 following backlash from customers. It is working to address these systemic environmental and social risks and ensure a just transition to netzero.
Climate adaptation finance is also important for risk management of netzero assets, according to the UK’s Green Finance Institute. With adaptation finance flows remaining dangerously low to meet climate goals, has COP28 made a difference?
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. As of January 2022, 1,853 cases have been reported. In 2017, there were 884 cases brought in 24 countries.
Despite the precariousness of the pathway to netzero, COP26 generated a renewed sense of urgency and optimism as to how to support emerging markets and deal with heavy greenhouse gas emitters. Yet, as the latest United Nations Environment Programme’s (UNEP) annual gap report shows, policies currently in place point to a 2.8°C
The UN Environment Programme (UNEP) says: “This vulnerability is driven by the prevailing low levels of socioeconomic growth in the continent. UNEP wants to see more investment diverted towards supporting African countries in meeting their nationally determined contributions (NDCs). This is the case in Africa.”.
The approach is also designed to allow organisations to signal their alignment to global policy goals, such as the recently negotiated Global Biodiversity Framework much as they are now doing with climate reporting and netzero transition planning aligned to the goals of the Paris Agreement.
billion in 2024, as companies transition from venture capital to bank loans and other funding sources ( NetZero Insights ). Adaptation finance represents just 10% of global climate finance ( UNEP ), while investments in nature-based solutions and biodiversity remain underfunded despite their crucial role in combating climate change.
As the world experiences record global temperatures and greenhouse gas emissions, the latest Emissions Gap Report from the UN Environment Programme ( UNEP ) found that current pledges under the Paris Agreement put the world on track for a 2.5–2.9°C from 2021 to 2022, reaching a record 57.4 C above pre-industrial levels. For the 1.5°C
Current climate pledges by governments are falling short, with the latest analysis by the UN Environment Programme (UNEP) putting the world on track for a temperature rise of between 2.4°C To address the emissions gap and keep the 1.5°C There are ongoing discussions and decisions to clarify under Article 6.4 C pathway.
In March 2021, the Align project was also launched, led by the United Nation’s Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and funded by the European Commission. But investors choosing the path of inaction while they wait for relevant and comparable data from investee companies may be waiting a while.
SDSN signed a partnership agreement with the Climate Action Tracker (CAT) to collaborate in the coming years on areas of common interest, including around national net-zero strategies, pathways and policies. Further work is planned in 2022 on financing the SDGs in SIDS. To date, there are 3,700 Hub members all over the world.
November 7, 2022 /3BL Media/ - Keysight Technologies, Inc. NYSE: KEYS), a leading technology company that delivers advanced design and validation solutions to help accelerate innovation to connect and secure the world, announced the winners of the Keysight Innovation Challenge 2022. on October 29, 2022. on October 29, 2022. “It
In January, an investor-led initiative was launched to address systemic risks in the mining sector to ensure a just transition to netzero, partly in reaction to a string of mining-related disasters that have generated despair and distrust from local communities and untold environmental damage.
C is rapidly falling out of reach , despite the fact most netzero commitments set by governments, investors and companies target a 1.5°C What investors can do instead is continue to demand netzero transition plans aligned with 1.5°C “This summer is giving us a mere taste of our future, and we’re still only at 1.3°C
Just prior to COP26, the UN Environment Programme (UNEP) launched the International Methane Emissions Observatory (IMEO) to improve the accuracy and public transparency of human-caused methane emissions. The first meeting is scheduled for November 2022. Delivering on the pledge could reduce warming by at least 0.2?C
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. MAPFRE joined the alliance in April 2022.
Leading US banks and insurers will face votes at their upcoming AGMs asking for policies aligned with the International Energy Agency’s (IEA) netzero roadmap , after challenges to shareholder resolutions were rejected. . Regulator refuses requests for no-action relief against shareholder resolutions calling for IEA alignment. .
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