This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
In an open letter to its clients, HSBC CEO Noel Quinn said the bank had been motivated to ramp up its environmental ambition by customer concern about climatechange. "We We are committed to developing products that allow them to invest or participate in efforts to bring about a more sustainable globaleconomy.".
As we approach COP29, which (roughly) coincides with the fourth anniversary of the Net Zero Asset Managers initiative (NZAM), it’s an excellent moment to reflect on progress and reaffirm the individual commitments of NZAM signatories to accelerating the transition to a net zero globaleconomy.
However, the company’s plan to invest up to $46 billion over the next 15–20 years to expand into an emissions-free iron process being piloted in Northern Sweden is big news for Sweden, the global steel industry and future generations around the world. Change requires exploration of new concepts and solutions.
The green groups behind the report have warned of an "alarming disconnect" between the global scientific consensus on climatechange and the ongoing practices of the world's leading banks. trillion to coal, oil and gas companies in the five years since the ParisAgreement was signed, it calculates.
Campaigners maintain that stronger ambition is required given that the 2030 target the IMO is working towards — a 40 percent reduction in carbon-intensity emissions — is not aligned with the ParisAgreement in the first place. ClimateChange. Shipping & Logistics. Corporate Strategy. Sustainable Shipping. BusinessGreen.
The throwaway globaleconomy is fuelling the climate crisis with more than half a trillion tonnes of virgin materials consumed since the 2015 ParisAgreement, according to a report from impact organisation Circle Economy launched on 19 January. World leaders committed to limit climatechange to 1.5°C
Benchmark assessments are a cornerstone of Climate Action 100+ and are intended to help inform investors’ engagement strategies and wider public debate. The results show that most focus companies are not moving fast enough to align with the goals of the ParisAgreement and reduce investors’ risk. C) pathway.
food sector have disclosed their climate transition strategies nor concrete actions to achieve them, despite increasing investor pressures and the growing threats of climatechange. The Investor Guide to Climate Transition Plans in the U.S. None have published a climate transition plan.
December marks the five-year anniversary of the ParisAgreement — a turning point for the movement to limit dangerous climatechange and environmental destruction. These leaders understood the direct linkage between climatechange and financial risk. On the fifth anniversary of the TCFD, a call to action.
It is heartening to see most corporate net-zero pledges clearly stating they don’t want to be left hanging, with words to the effect of “My organization makes this commitment with the expectation that governments will follow through on their own net-zero commitments to ensure that the goals of the ParisAgreement are met.”.
Understanding Climate Scenario Analysis What is climate scenario analysis? Climate scenario analysis is a strategic tool used by businesses to evaluate the potential impacts of climatechange on their operations, assets, and overall business strategy.
DESCRIPTION: The 27th United Nations (UN) Conference of the Parties (COP), which took place this November in Sharm El Sheikh, Egypt, marked a significant milestone in developing action against climatechange. Loss and Damage’ Fund Agreement. Mitigation Work Program’ Development. degrees celsius.
“A call to transition energy systems away from fossil fuels—the first time oil and gas had been included in a COP agreement—won over those demanding strong action; but oil producers and developing countries were reassured by assertions that countries are free to follow their own paths to net zero,” Bloomberg News reports.
The initiative has emerged as one of the key organizations focused on aligning corporate environmental sustainability action with the global goals of addressing and limiting climatechange. Last year, the initiative appointed its first CEO , Luiz Amaral.
This event will delve into the means and examples of how to access funding by GCF and the critical role of ESG principles in shaping investment decisions and financial mechanisms to combat climatechange and foster a more sustainable globaleconomy. Istituto Commercio nel Estero as a Senior Trade Analyst.
The passage of the Act marks one of the Biden administration’s major accomplishments to date, and a significant step forward on the President’s climate ambitions. Addressing climatechange has been a major focus from the start of the administration, beginning with the return of the U.S.
In a letter from the organization to ING Group Chair Steven van Rijswijk, Friends of the Earth argued that under Dutch law, companies have a “duty of care” obligation to not create dangers that can cause avoidable damage to people or property, which it says applies to climatechange.
Thierry Philipponnat, Chief Economist at Finance Watch, warns that economic modelling must evolve to prompt policymakers to take action on climate. As these perilous climate projections unfold, one might expect an inevitable upheaval in the globaleconomy.
Climate Action 100+ (CA100+) has warned that carbon-intensive companies are not progressing fast enough to align with the objectives of the ParisAgreement, supporting the rationale for its revised engagement strategy.
Scott Tew, VP Sustainability: With the call to triple renewables deployment and transition energy systems away from fossil fuels, Dubai may be the most significant COP since the ParisAgreement in 2015. Is the agreement perfect? We are living through the fastest and most systemic overhaul of the globaleconomy in human history.
“By knocking down barriers that stand in the way of investment, we can spread the economic and health benefits of clean energy and gain ground in the battle against climatechange.
—the world is not on track to meet its climate goals. The frequency of catastrophic heatwaves, flooding and droughts continues to have an increasingly deadly and devastating impact on all parts of society—including the globaleconomy. The latest National Climate Assessment found the U.S.
Pricing and intermediating risk is a core function for insurance companies, but this has become far more challenging given the unprecedented risks associated with climatechange. At the same time, regulators are requiring insurers to quantify and disclose them.
Climate risk and resilience are largely modeled by insurance companies, looking at how a company’s assets may be affected by rising sea levels, extreme heat, increasing natural disasters and other future climate events as climatechange worsens. Clients need to vote with their money.
A growing body of research warns that the financial sector is underestimating the risks of Earth’s system tipping points – how should it respond? The gap between the science of climatechange and the emerging tools aimed at helping the financial sector manage concomitant risks is the subject of intensifying debate.
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”. NDCs are expected to play a central role at this year’s COP.
Supporting resilience and just transition are as important as climate mitigation, says Lihuan Zhou, Associate at the World Resources Institute’s Sustainable Finance Center. Sustainable investing is a key part of curbing climatechange, and the sector is showing some signs of progress. trillion from 2010-2019.
Creon Butler, Director, GlobalEconomy and Finance Programme at think tank Chatham House, made a similar warning of a “probable sharp adjustment” this month , saying that “financial markets did not yet reflect climate risk” despite the clear severe economic and financial consequences of climatechange.
Ahead of COP28, over 125 businesses from across industries and regions call on national governments to address the primary cause of climatechange: burning fossil fuels. I urge other companies to sign and show governments and heads of government going to COP28 that they support immediate and decisive climate action.
These are just a few of the nightmare scenarios evoked by UN Secretary General António Guterres following the publication in April of the latest Intergovernmental Panel on ClimateChange (IPCC) report on climate science. We’re on a pathway to global warming of more than double the 1.5°C
The 22nd United Nations Framework Convention on ClimateChange (UNFCCC) session of the Conference of the Parties (COP22) successfully brought together climate experts, NGOs, and high-level government delegates to operationalize the ParisAgreement, which entered into force on November 4, 2016.
Not moving fast enough” According to the TPI Centre’s report, banks lack alignment with the ParisAgreement, with just 19% of their sectoral pathways being aligned with temperature goals of 1.5°C Wall Street banks need to walk the walk, and their regulators, clients, and shareholders need to do more to hold them accountable.”
In February, the scheme committed to further develop and embed climate and ESG risk management, include a commitment to vote in favour of shareholder resolutions aligned with the objectives of the ParisAgreement. In May, the LGPS has launched a second £1.2 billion in 2022.
And in light of these real criticisms there have been calls for more agile, regional, or even unilateral solutions. But long problems and evolving challenges, like poverty, food insecurity, conflict, AI, health, climatechange, biodiversity loss and migration, are not issues that can be solved in the span of a single political cycle.
COP28 represents a critical, and perhaps the last opportunity for Parties and non-state actors to deliver on the ambitions of the ParisAgreement to limit global average temperature increase to 1.5°C Consequently, investment portfolios may remain exposed to sustainability risks from climatechange.
Julie Segal, Visiting Fellow at the London School of Economics’ Grantham Research Institute on ClimateChange & the Environment, outlines the c hallenges and opportunities of the ParisAgreement’s Article 2.1(c). Aligning investments with climatechange mitigation and adaptation goals, as required under Article 2.1(c)
As global momentum builds behind transition planning, Mark Manning, Senior Visiting Fellow at the London School of Economics, makes the case for a systemic response to the challenges of climatechange. Arguably, we need to be thinking about transition planning as a system response to the challenges of climatechange.”
With the globaleconomy heavily reliant on ocean health, a sustainable future is paramount. Changes in the ocean drive weather systems that influence both land and marine ecosystems. We can learn from the ParisAgreement process and move fast on ocean plastics.
Between the news media and the protests, it would have been easy to get the impression that this year’s United Nations climate summit, known as COP26, was all talk and no action. The conference brought forth a slew of good news and formal agreements to implement bolder climate action. on climate action.
This statement is the We Mean Business Coalition response to the Glasgow Climate Pact, agreed at COP26. . The Glasgow Climate Pact represents a vital step in our shared efforts to keep global warming to 1.5 °C C and implement the ParisAgreement and will be welcomed by the business community.
Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the ParisAgreement in 2015, the 60 largest banks have instead invested $5.5 For example, the indicative financed emissions from the UK financial sector in 2019 were found to be 1.8
To decarbonize the globaleconomy in alignment with the goals established by the ParisAgreement, all economic actors in the real economy need to reduce their greenhouse gas (GHG) emissions sufficiently to align with required emissions pathways. Securities and Exchange Commission (SEC) are taking hold. .
C temperature goal of the ParisAgreement alive, and to ensure a just transition. . Businesses around the world have set ambitious science-based targets , and are investing in climate solutions and disclosing progress toward reducing emissions. These measures are supported by 778 businesses representing US$2.7
It’s a chance not merely to discuss but to initiate decisive action on climatechange — an endeavour critical to the future health of our planet and economies. Climatechange isn’t a distant threat, it’s a pressing challenge that demands urgent action.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content