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Recent months have seen major moves on climate action by some of the world’s largest private banks, including JPMorgan Chase, HSBC and Morgan Stanley. What sets this latest wave of climate pledges by financial institutions apart from past announcements? Disclosure and reporting. Pull Quote.
The Living Planet Report 2022 shows an average decline of 69% in wildlife populations since 1970, thus emphasizing the dual crises of biodiversity loss and climatechange driven by human activities. Unlike the climate crisis that led to the signing of the ParisAgreement , biodiversity loss has received little attention until now.
This article was first published in Reuters Women have been a major force behind the most important milestones we have achieved on fighting climatechange. When you look hard at climate progress, you can see the mark of women leaders. The climate space urgently needs more of the qualities that women leadership can bring.
Asset owners should track their contributions to climatechange mitigation by calculating the greeninvestment ratio of portfolios and assets, according to a recent report by the Institutional Investors Group on ClimateChange (IIGCC). . Comprehensive snapshot” .
Scientists have warned rising temperatures, exacerbated by climatechange, are becoming a public health hazard for a region home to more than 30 million people. Climatechange is here, changing where and how we live and restricting the ability of communities, governments and businesses to operate.
It will also intensify its work on the effects of transition funding, greeninvestment needs and transition plans, exploring the case for further changes to its monetary policy instruments and portfolios. These announcements followed the ECB’s third assessment of European banks’ progress on the disclosure of climate and environmental risks.
Eight years since the ParisAgreement was adopted, the energy transition remains “stuck”, according to Spaargaren. In response, PME has divested from fossil fuel investments and redirected the funds towards the energy transition by focusing on solar and wind projects.
In 2018, the Asset Management Association of China, a self-regulatory body set up by the sector, released GreenInvestment Guidelines for trial implementation. The guidelines define the concept of greeninvestment, and set out basic objectives, principles, and methods of supervision.
The Institutional Investors Group on ClimateChange , however, remained optimistic , endorsing the 2040 Impact Assessment’s recognition of the need for a collaborative approach to project pipelines and finance models, based on a “predictable and simplified” regulatory environment. Just one more.
In Interlaken, Switzerland, governments conducted the painstaking business of approving the key messages for policymakers of the latest Synthesis Report from the Intergovernmental Panel on ClimateChange (IPCC), aka the world’s foremost climate scientists. In Japan, progress is even slower, admittedly, but anticipation is high.
Andrea Webster, Financial Systems Lead, World Benchmarking Alliance, explains how sovereign wealth funds can pull the trigger on system level change. We have reached an inflection point on how climatechange is affecting the finance sector. It is undeniably relevant to decision-making.
Not only did it set the tone for a wide range of adaptation initiatives throughout COP27, by focusing attention on the Global South it changed the narrative of climate diplomacy, helping to pave the way for the loss and damage fund , the proceeds of which will ultimately bolster physical defences against climatechange. .
The UN ClimateChange Conference is only a few months away, and to say that expectations are high would be an understatement. She believed good progress was being made on Adaptation (the effort to secure protection for habitats and communities against the effects of climatechange). What are the big priorities for COP?
This article was first published in Forbes Today 100 CEOs announced a push for governments to boost the business case for greeninvestment, in the run-up to COP29 in Azerbaijan. Half a decade later and the Climate Pledge is one of the largest corporate climate initiatives out there. “We C global warming target.
This article was first published in Forbes The election of President Trump and the establishment of an administration closely tied to the fossil fuel industry is, without doubt, a major setback for global efforts to combat climatechange. Climatechange is no longer a distant threat; it is a current reality.
Tatjana Greil-Castro, Co-head of Public Markets at asset manager Muzinich, notes there are only so many greeninvestments that companies can do in a year. Unsurprisingly, issuance from US companies is expected to be lower given incoming President Donald Trumps policy on climatechange and withdrawal from the ParisAgreement.
A chapter on reshaping the US Department of Energy and related agencies, written by Trump’s former energy regulator Bernard McNamee, dismisses concerns about climatechange as being “ideologically driven”, and sets out a radical agenda that would comprehensively demolish the climate reforms of the previous administration.
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