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While pushing for public policy action in support of COP26 commitments, private sector actors must accelerate their low carbon transition, say experts. In the wake of COP26, it falls on many shoulders to implement and operationalise the rhetoric of Glasgow.
Eoin Murray, Head of Investment at US$669 billion AUM active investment manager Federated Hermes said the report provides a “relatively” definitive guide to what actions can limit global warning. What further wake-up call is required by our industry of the necessity of shifting to renewables?” he asked. . This is not new.
A statement from 150 global financial institutions with US$24 trillion in AUM backed a “robust” GBF that provided a clear mandate for the alignment of financial flows, supported the disclosure of nature-related risks, impacts and dependencies, and outlined clear targets and definitions to enable the development of nature-positive projects.
Alongside its many harrowing and destructive impacts, Russia’s invasion of Ukraine has provided an unintentional boost to the aims of COP26. More than 140 countries pledged to reverse deforestation by 2030 at COP26, but evidence suggest an increase rather than a decline. billion across their operations and supply chains.
CDP, “New report shows just 100 companies are source of over 70% of emissions,” July 10, 2017. link] Chernichenko, Stanislav Valentinovich , “ Definition of gross and large-scale violations of human rights as an international crime,” United Nations Digital Library, 1993.
Answering A Question From COP26: “Hell Yes”. Jim Boyle, CEO of Sustainability Roundtable Inc, as a delegate of the Sustainable Innovation Forum at COP26 in Glasgow, Scotland. UN News, “COP26: Enough of ‘treating nature like a toilet’ – Guterres brings stark call for climate action to Glasgow,” United Nations, November 1, 2021.
It also undermines the COP26 Glasgow Leaders Declaration on Forests and Land Use by failing to tackle much of the UK’s deforestation footprint abroad, according to analysis by NGO Global Witness. . In April, President Joe Biden signed an executive order reiterating the country’s commitment to delivering on the aforementioned COP26 pledge.
What did world leaders commit to do at COP26 to stop deforestation? Only days after the COP26 declaration on deforestation, the environment minister of signatory Indonesia, Siti Nurbaya Bakar, said the plans were “inappropriate and unfair”. To end deforestation, CDP says the scale and speed of action by companies must increase.
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