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So they’re a really great way to bring people in to start that conversation about climatechange,” says Jennifer Carman, one of the study’s authors and a deputy research manager with the Yale Program on ClimateChange Communication. “Games create engaging and immersive worlds. 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.
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
July 25, 2023 /3BL/ - A new report released today by the Ceres Accelerator for Sustainable Capital Markets and the California Department of Insurance reveals that insurance companies are pursuing a wide variety of strategies to manage the increasing risks associated with climatechange. Climate Risk Management in the U.S.
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. UN ClimateChange’s NDC synthesis report found they would collectively only deliver a 5.3% C of climatechange by 2100.
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. Addressing system-level risks and considering climate goals is not only permitted but may be required by existing investor duties and obligations.
Methane is a primary component in natural gas and a contributor to climatechange. Why is reducing methane emissions so important to climatechange mitigation? This powerful warming effect causes experts to believe that cutting methane emissions is critical to mitigating climatechange.
New and updated climate commitments fall far short of what is needed to meet the goals of the Paris Agreement, leaving the world on track for a global temperature rise of at least 2.7°C C this century, according to the UN Environment Programme’s (UNEP) latest Emissions Gap Report 2021: The Heat Is On. Zeroing in on netzero.
“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.
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.
The proposed solution for netzero targets and progress aims to improve transparency and accountability, but will need to consider existing guidance. The Recognition and Accountability Framework for non-state actors and a draft implementation plan were unveiled at Bonn by UN ClimateChange (UNFCCC).
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.”.
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.
The Glasgow Financial Alliance for NetZero (GFANZ) has announced the formation of its APAC Network and the creation of a regional advisory board to accelerate netzero action across the Asia Pacific region. The post GFANZ Launches APAC Network to Accelerate Move to NetZero appeared first on ESG Investor.
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.
New guidance from the Finance for Biodiversity (F4B) initiative encourages institutional investors to give equal weight to climate and nature-related factors in their portfolio assessments and reporting. Equally, one cannot accurately assess nature-related risks without considering climate,” the report added.
Jessica Smith, Nature Lead at the UNEP FI, says it’s time for biodiversity to take its place alongside climate in investor priorities. Smith says there needs more understanding of the progress already made aligning finance with climate risk, which is set out in Article 2.1c of the Paris Agreement on ClimateChange. “We
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”.
The recent IEA report and UNEP gap report on netzero pathways have noted how difficult it will be to achieve the 1.5°C C climate goal. The previous IEA netzero report included various assumptions, including an increase in land use for bio-energy crops. A credible 1.5°C C goal within sight.
Although minerals are critical to a netzero future, ongoing environmental and social abuses cannot be ignored, urges Brumadinho community representative. It will further attempt to identify where existing ESG data can be consolidated, so investors and corporates can align.
If approved, it will lead to the setting up of RAF as a standardised template for organisations to submit their netzero pledges and transition plans for publication in GCAP, says Gillod. But, Gillod is also cautious about how much impact the UNFCCC’s RAF can actually have. “It
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.
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.
Neither the world’s financial firepower nor the impact of climatechange is spread evenly, which means funding the transition to netzero is much harder and more urgent for emerging markets and developing economies (EMDEs) compared to developed ones. . Steady momentum .
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
The number of litigation-arbitration climatechange related cases is on the rise. As of 1 July 2020, the number of cases had nearly doubled, with at least 1,550 climatechange cases filed in 38 countries, according to the UNEP Global Climate Litigation Report. A changing landscape.
For people and the planet, we know how important it is not only to improve building efficiency but to reach netzero emissions,” said Carlos Manuel Rodriguez, CEO and Chairperson of the Global Environment Facility. Energy and Climate Branch (UNEP) and Head of the GlobalABC Secretariat, UN Environment Programme.
Financial institutions still don’t have expertise to handle netzero transition, according UNEP FI-backed report. The 12-month programme launch follows increasing demand from asset owners and managers for resources and qualifications that will help them develop the relevant skills for managing the netzero transition.
Financial institutions need to segment their portfolios into transition, netzero-aligned and stranded assets and develop clear emissions reduction plans in line with recognised 2030 and 2050 targets, said Mark Carney, Founder and Co-chair of the Glasgow Financial Alliance for NetZero (GFANZ). Heading for the exit?
Failure to focus on water-related issues risks derailing efforts to combat climatechange and biodiversity loss. The UN has previously said that water and climatechange are “inextricably linked”, with the latter “exacerbating” both water scarcity and water-related hazards, such as floods and droughts.
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. C trajectory.
The practical realities of the finance sector’s climatechange commitments were in focus this week. 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.
“Banks must urgently step up efforts to measure and manage climate risk, closing the current data gaps and adopting good practices,” said Andrea Enria, Chair of the ECB’s Supervisory Board. An update is expected later this year, following a consultation period launched in May. The post Take Five: Green in Name Only?
Increased private sector funding seen as critical to acceleration of investments to meet climatechange, biodiversity and land degradation targets. . The report said delaying action “was no longer an option” in light of the impacts of climatechange, species extinction and land degradation. “
Targeted investments are required to save our cities from the climate-related risks flagged by the IPCC. The effects of climatechange aren’t limited to distant ice caps. It’s therefore vital that cities are built or renovated to be more sustainable and resilient in the face of climatechange-induced extreme weather events.
According to the UN Environment Programme – Finance Initiative (UNEP FI), the finance sector has ground to make up too, albeit at least some of the responsibility for this also sits with governments. Private sector investment in nature had swollen to US$102 billion by May 2024, an eleven-fold increase on May 2022, apparently.
With adaptation finance flows remaining dangerously low to meet climate goals, has COP28 made a difference? Climate adaptation finance is also important for risk management of netzero assets, according to the UK’s Green Finance Institute. Developed countries have also been asked to prepare a report on doubling by COP29.
trillion AUM. “The alliance is doing exactly what it set out to do ,” Remco Fischer, Climate Lead at the UN Environment Programme Finance Initiative (UNEP FI), told ESG Investor. Now that the rubber has hit the road, we are showing [how] promises have led to targets and targets have led to members taking action.
COP27 must boost Africa’s adaptation to the physical risks of climatechange, says Amal-Lee Amin, Head of ClimateChange at British International Investment. Africa contributes less than 3% to global emissions but is the most vulnerable continent in the world to the negative impacts form climatechange.
As climatechange accelerates, the need to make buildings more sustainable, energy-efficient, and healthier has never been clearer. While many climate tech solutions focus on reducing outdoor emissions, there’s a growing recognition that indoor air quality is also a growing issue.
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
In late April, the UK High Court ruled that charity trustees can consider climatechange factors when making decisions over their investments, even if it means making lower returns. How are attitudes changing? How does fiduciary duty relate to sustainable investment?
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