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Canada on the defensive as global pressure mounts to phase out fossil fuels

Corporate Knights

Canada isn’t alone in its climate contradiction. The 2023 Production Gap Report , released by UNEP, the Stockholm Environment Institute and other partners, found that 19 leading energy-producing countries are planning to extract twice as much fossil fuel supply in 2030 as the maximum that can be burned to keep the world on a 1.5°C

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Take-off for the Net Zero Transition  

Chris Hall

COP28 may have not delivered all it promised, but investors now have a clearer idea of how the path to net zero 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 net zero, even by those who acknowledged its multiple caveats.

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$29 Trillion Investor Coalition Urges Government Policies Including Mandatory Climate Reporting, Sectoral Transition Strategies

ESG Today

trillion in 2023, but notes that this still falls short of the estimated $4.8 trillion annually required to reach net zero emissions by 2050, and adds that policies to date have focused primarily on developed markets, while emerging markets and developing economies (EMDEs) are still facing significant underinvestment.

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Production Gap 2023 Report: Australia's disconnect on net zero emissions while expanding fossil fuel production

John Englart

The United Nations Environment Program (UNEP) released the Global Production Gap Report on 8 November 2023. Governments in aggregate are planning to produce more than double the amount of fossil fuels in 2030 than would be consistent with limiting warming to 1.5°C.

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UNFCCC Tightens the Screw on Net Zero

Chris Hall

The proposed solution for net zero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. But there is still room for hope that net zero commitments – and subsequent progress on decarbonisation – can be transparent, aligned and ambitious.

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Capital Flows not Supporting Nature Commitments

Chris Hall

“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.

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UN kills off NZIA and launches multi-stakeholder forum for net zero

Environmental Finance

The UN Environment Programme (UNEP) has discontinued the Net-Zero Insurance Alliance (NZIA), which suffered an exodus of most of its members in spring 2023 due to antitrust risks.