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C above pre-industrial levels, according to the United Nations Environment Programme (UNEP). Retiring coal power plants early will, in 2025, cost an estimated US$164 billion, according to research from American non-profit RMI – a small price to pay when climate disaster damages topped US$210 billion worldwide in 2020 alone.
trillion annually required to reach netzero 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. trillion in 2023, but notes that this still falls short of the estimated $4.8
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.
A letter from 534 financial institutions representing US$29 trillion in assets under management called for policy action in five areas to accelerate private sector investment in a “ just transition to a climate-resilient, nature-positive, net-zero economy”.
Alliance extends netzero targets to capital markets activities, as frameworks provide more tailored approach for banks’ transition strategies. The new capital markets targets will come into effect from 1 November 2025, while the rest of guidelines’ updated second version is effective from 22 April.
Financial institutions need to segment their portfolios into transition, netzero-aligned and stranded assets and develop clear emissions reduction plans in line with recognised 2030 and 2050 targets, said Mark Carney, Founder and Co-chair of the Glasgow Financial Alliance for NetZero (GFANZ). Heading for the exit?
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.
A rapid doubling of funding for nature-based solutions (NbS) by 2025 can achieve a ‘triple win’ for environmental sustainability goals, but must be accompanied by an end to ‘nature-negative’ price-distorting subsidies, a new UN report said. . Currently, the private sector contributes just 17% (US$26 billion) of total investment in NbS.
Following “strong feedback” on the connection between climate and nature, Faber said the ISSB plans to immediately advance work on the climate standard, making explicit connections to natural ecosystems and human capital aspects of the netzero transition. . “We
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? Developed countries have also been asked to prepare a report on doubling by COP29.
In 2025 the EU Taxonomy will reach a milestone, marking the first full year of Taxonomy-alignment reporting for non-financial companies against its environmental objectives, alongside the first reports under the Corporate Sustainability Reporting Directive (CSRD) for the largest EU companies.
Phatisa, which operates across sub-Saharan Africa, wants all of its portfolio companies to have drawn up a gender policy complete with “stretching targets to increase female employment across different skill levels by 2025”. Nuveen, with 1.2 Ultimately, a lot of food issues are coming together.”.
As netzero strategies are taking shape and being implemented, governments , investors and companies are enlisting the natural world in the battle to combat the most catastrophic effects of climate change. In December, COP15 underlined the international consensus that limiting global warming to 1.5°C
Estimated adaptation costs and financing needs in developing countries are between five to ten times greater than recorded 2020 international public adaptation finance flows, according to the 2021 Adaptation Gap report published by the UN Environment Programme (UNEP). .
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 The partnership has developed an aspirational goal of reducing methane emissions by 45% by 2025, relative to a 2015 baseline. Created in November 2020, OGMP 2.0
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 C above pre-industrial levels. For the 1.5°C C goal, emissions need to be cut by 42%.
Speaking at the OECD’s Forum on Green Finance and Investment 2023 , she also noted that there is “no way we can meet netzero goals without nature”. By 2025, two-thirds of the world could face water shortages. The global population is projected to reach just short of 10 billion by 2050, which would require 55% more water.
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.
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 signatories recognised that rapid action on methane is an essential complement to cuts in CO2 and other greenhouse gases (GHGs).
They must report on all other facilities by August 2025. Members of the International Council on Mining and Metals (ICMM) were asked to publish their progress towards conformance with GSTIM by 5 August, for tailings facilities classified as ‘extreme’ or ‘very high’ consequences.
According to ISS ESG, the new update addresses market demand for a more unified approach to scenario alignment, adding the latest developments in best practices for measuring portfolio alignment, including the recommendations of the Glasgow Financial Alliance for NetZero (GFANZ).
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