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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.
Noting that the number of court cases being brought against companies on climate-related grounds has recently topped 2,000, the report says some plaintiffs are seeking to recover the costs of climatechange itself, or the expense caused by having to adapt to it. Resort to the courts. Vital role of non-execs.
Transition plans should demonstrate alignment with 2030 decarbonisation targets, says UN Climate Envoy. In addition, institutions should have interim decarbonisation targets that are “consistent” with the 2030 target, set by the Intergovernmental Panel on ClimateChange , of reducing CO2 emissions by around 45% from 2010 levels.
Our economic system has failed to address long-standing threats like climatechange, biodiversity loss, disease, water scarcity, and inequality. One of the byproducts of this form of economy is massive levels of climatechange-causing greenhouse gas (GHG).
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. Policy reform, best practice and legal judgments are redefining the relationship between fiduciary duty and sustainable investment.
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 Risk of strandedassets . degrees Celsius.
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