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Investors are warming to opportunities stemming from climatechange, and other takeaways from COP28. COP28, the latest United Nations Conference of the Parties on climatechange, delivered mixed results on some key agenda items but provided new insights into climate-related opportunities and the initiatives needed to implement them.
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. Fancy writes: “To fix our system and curb a growing [greenwashing] disaster, we need government to fix the rules.”.
Earlier this week, the latest report from the Intergovernmental Panel on ClimateChange warned against further delays in “concerted anticipatory global action” to tackle climatechange. . UNEP FI works with financial industry frameworks to set norms, or pre-standards. Holistic approach .
Jam open the closing window – The UN Environment Programme’s Emissions Gap Report 2022 was the most sobering of the many pre-COP27 analyses published this week, highlighting the inadequacy of our efforts to tackle the causes of climatechange. Current pledges will nudge global warming down from its present 2.8°C C course to 2.5°C
In the UK, a Green Technical Advisory Group (GTAG) was created to support the development of a green taxonomy, intended to provide a universal framework to define investments that are environmentally sustainable as well as to help businesses avoid greenwashing claims. What does a credible strategy look like?
UN ClimateChange’s NDC synthesis report found they would collectively only deliver a 5.3% C of climatechange by 2100. Stronger wording might have been possible, but this was a big step in the right direction,” said Remco Fischer, Climate Lead, UN Environment Programme Finance Initiative (UNEP FI).
In fact, more than 90% of materials are either wasted, lost or remain unavailable for reuse for years as they are locked into long-lasting stock such as buildings and machinery, the report added. “It’s clear that we’re still going to need to mine minerals as part of an ongoing solution to climatechange and addressing some of the significant (..)
Shareholders at other North American banks – including Bank of America, Goldman Sachs, Wells Fargo, Bank of Montreal and TD Bank – have also filed proposals asking for lending and financing policies consistent with the IEA’s scenario for limiting climatechange to 1.5 degrees Celsius. at Trillium Asset Management.? “In
Less remarked has been the very large number of lobbyists in Dubai acting on behalf of oil and gas companies, the very organisations with a vested interest, one may have thought, in blunting whatever initiatives emerged to limit climatechange by reducing CO2 emissions. Oil and gas overplayed their hand,” she says.
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