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The 2025-2030 period will be really exciting because the decarbonization of these portfolios will have to accelerate to maintain their alignment to a net-zero scenario,” said Stannard. Pretorius and Free agreed and claimed investors will expect even more from companies than mere divestment from non-renewable assets.
“Over-producing fossil fuels relative to the growth in available renewable capacity is a threat to efficient transition.” Although the oil and gas sector accounts for 15% of global greenhouse gas emissions, scientific evidence suggests demand will peak by 2030.
Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 They can also divest from high-emitting industries such as thermal coal production. trillion USD in fossil fuels.
C no/low overshoot scenarios to set the ambition level for sub-portfolio and sector targets. At the global level, IPCC 1.5°C “As we head towards at least 2.4°C
Earlier this year , a benchmark study warned that several Canadian pension schemes have fallen behind global climate transition progress. However, CDPQ was identified as a climate leader following its decision to divest firms involved in oil production and refining and coal mining in 2022. ‘Green’ assets now make up 12.5%
Charlotta Dawidowski Sydstrand , Head of ESG at AP7, explains how universal owner s can exert collaborative pressure to drive sustainable outcomes in the globaleconomy. This, says Sydstrand, creates a “ripple effect” in the globaleconomy.
Recent findings from the Forest Declaration Assessment show a concerning trend: global efforts to reduce deforestation are falling significantly short of 2030 targets, trailing by 21% last year. Divestment, while a contentious strategy, should be considered a last resort.
Russia’s invasion of Ukraine and the corresponding energy crisis, inflation spike and political instability it inflicted on the globaleconomy brought into question whether this act of military aggression should be seen as a help or hindrance to the energy transition. “In
In its latest synthesis report , the Intergovernmental Panel on Climate Change (IPCC) issued a “final warning”, calling for swift and decisive action to keep global average temperature rise to <1.5°C Averting this cataclysm requires the reduction of global anthropogenic greenhouse (GHG) emissions to net zero by 2050.
The ongoing COVID-19 pandemic has brought our globaleconomy to a standstill, with fears of the worst recession since 1929. Economies around the world are reeling from the cascading shocks wrought upon them since the beginning of March. (This post was published earlier this year on Medium.
On Earth Day, President Biden pledged to reduce global warming emissions by 50 percent by 2030 compared to 2005 levels. The letter also seeks a net-zero electricity grid by 2035, a 50 percent target for electric vehicle sales by 2030, and a renewed commitment to international climate finance. Pennsylvania made the U.S.’s
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