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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
Many of the large tech companies that manufacture games and consoles, such as Microsoft, Apple and Google, have committed to reaching net-zero by 2030. Sony has pledged to be net-zero by 2040, and Activision says it will reach that target by 2050. Other companies have less ambitious targets.
Speaking at ESG Investor’s inaugural Stewardship Summit, UNEP FI’s Head of Climate Risk says transition finance flows to developing economies are too low to meet netzero targets. The post New Investment Models Needed for NetZero Goals Warns UNEP FI’s Carlin appeared first on ESG Investor.
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/ -
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.
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
C this century, according to the UN Environment Programme’s (UNEP) latest Emissions Gap Report 2021: The Heat Is On. The report, now in its 12th year, finds that countries’ updated Nationally Determined Contributions (NDCs) – and other commitments made for 2030 but not yet submitted in an updated NDC – only take an additional 7.5
Investors have made pledges towards netzero, they are taking action by engaging with companies, and are increasingly vocal and responsible stewards of the capital they manage. But they cannot do it alone. Consequently, investment portfolios may remain exposed to sustainability risks from climate change.
Speaking at ESG Investor’s inaugural Stewardship Summit, UNEP FI’s Carlin says transition finance flows to developing economies are too low to meet netzero targets. The post New Investment Models Needed for NetZero Goals Warns UN Climate Risk Chief appeared first on ESG Investor.
“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.
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.
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.”.
Although minerals are critical to a netzero future, ongoing environmental and social abuses cannot be ignored, urges Brumadinho community representative.
The recent IEA report and UNEP gap report on netzero pathways have noted how difficult it will be to achieve the 1.5°C The previous IEA netzero report included various assumptions, including an increase in land use for bio-energy crops. A credible 1.5°C C climate goal. C goal within sight.
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”.
Renewable energy and nuclear power featured in high-level announcements, with heads of state and governments pledging to triple renewables capacity to at least 11,000 gigawatts by 2030, and to double the global rate of improvement in energy efficiency from 2% to 4% annually in the same time frame.
The global economy relies on the health of the ocean, says Dennis Fritsch, Project Coordinator, Sustainable Blue Economy Finance at the United Nations Environment Programme Finance Initiative (UNEP FI). UNEP FI is working towards integrating the use of sustainable finance practices in support of ocean health by the global financial community.
C by 2100, but only “urgent system-wide transformation” can deliver needed GHG emission cuts by 2030. In an accompanying commentary , UNEP Executive Director Inger Andersen said: “I urge every investor, public and private, to put their capital towards a netzero world. C course to 2.5°C
Transition plans should demonstrate alignment with 2030 decarbonisation targets, says UN Climate Envoy. In addition, institutions should have interim decarbonisation targets that are “consistent” with the 2030 target, set by the Intergovernmental Panel on Climate Change , of reducing CO2 emissions by around 45% from 2010 levels.
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.
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.
SDSN is proud to have contributed to Chapter 6 "Transforming food systems" of UNEP's 2022 Emissions Gap Report thanks to our FABLE Consortium scientific director Aline Mosnier. gigatonnes of CO2 equivalent, less than one per cent, off projected global emissions in 2030. C in place. C in place. C in place. C over the century.
The future of his Glasgow Financial Alliance for NetZero was in question after media reports that major US banks were threatening to quit rather than accept legal risks that might arise from tougher membership rules. But not his attitude to business.
Last year, Volkswagen similarly announced delays to its EV ambitions, with its flagship EV project Trinity being pushed back from 2026 to 2030 and putting plans for a new European battery plant on hold. It is working to address these systemic environmental and social risks and ensure a just transition to netzero.
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. In 2017, there were 884 cases brought in 24 countries. As of January 2022, 1,853 cases have been reported. Italy is about to hear its first climate-related case.
Around 2% of private sector finance is currently going to climate adaptation investments – the resilience of infrastructure, protection of forests, dealing with deforestation, investing in water management – which of course isn’t enough,” said Mohieldin, who is also UN Special Envoy on Financing the 2030 Sustainable Development Agenda.
Stuart Lemmon, Global Managing Director for the NetZero Transformation Practice at EcoAct, an Atos company, outlines the elements of a credible corporate climate strategy and explains why we should embrace scrutiny and work collectively on the path to netzero. o C remains highly uncertain. Navigating without a road map.
The report also estimates that NbS investment flows should rise to US$484 billion per annum by 2030. . Because of their multiple benefits, investments in NbS would represent “good value for money” at a time of global macroeconomic uncertainty, said Ivo Mulder, Head of the Climate Finance Unit at the UN Environment Programme (UNEP). .
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
New investment could double the number of PV manufacturing jobs to a million by 2030, it added. UNEP FI Executive Director Inger Andersen called on the intergovernmental body to support the Task Force on Nature-related Financial Disclosures and deliver “robust underpinnings for businesses” to help understand nature risks and dependencies.
New research from climate think tanks suggests that “immediate, transformational changes” across every sector are needed by 2030. Efforts to limit global warming to 1.5°C C are far behind the “pace and scale” required, with experts calling for policymakers to close the global gap in climate action at COP28 later this month.
The ‘ Nature Target Setting Framework for Asset Managers and Asset Owners ’ seeks to provide guidance to investors in establishing targets and directing financial resources in line with the mission of the GBF, aiming to protect 30% of terrestrial and marine habitats by 2030.
€275 billion of annual investment in EU energy efficiency renovations will be needed by 2030. . C of global warming, 50% of all existing buildings need to be netzero by 2040, increasing to 85% by 2050, according to the International Energy Agency. In order for the real estate sector to decarbonise in line with 1.5°C
A failure of carbon markets now would slow humanity’s path to netzero emissions and derail financial innovation in other ecosystem services, María Mendiluce writes. gigatons of climate mitigation annually by 2030. This article first appeared in EuroNews. C in reach. Nature-based solutions can deliver up to 12.5
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 coalition aims to go further by 2030, reducing emissions by 60% to 75%. Why is reducing methane emissions so important to climate change mitigation?
UNEP FI estimates the current adaptation finance gap is around US$194-366 billion per year, and positively, Climate Policy Initiative (CPI) found last month that adaptation finance had reached an all-time high of US$63 billion, growing 28% from 2019/20.
Extreme climate-related events can reduce a property’s value by between 5-20%, according to the UN Environment Programme Finance Initiative (UNEP FI). Last year, UNEP FI published guidance outlining the kinds of resilient buildings needed to cope with new climate extremes. Targeted investments.
Each company has its own goals, to be achieved between now and 2030. Rabobank is planning to support millions of smallholder farmers to move to agro-forestry, with the trees thus planted sequestering 150 megatons of CO2 by 2030, “equivalent to the annual emissions of 40 coal-fired power stations”. Nuveen, with 1.2
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
This expert group includes representatives from the UNEP World Conservation Monitoring Centre, standard setters EITI and SASB, and investment institutions FTSE Russell and S&P Global. ISS ESG Issuer Level NetZero Alignment Data can be used to identify positive and negative performing companies against individual climate related metrics.
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 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.
The standard was developed after the failure of a tailings facility at Brumadinho, Brazil in 2019, causing 272 deaths, through an independent process convened by ICMM, the United Nations Environment Programme (UNEP) and Principles for Responsible Investment (PRI).
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