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For the leaders of the divestment movement, which encourages institutional investors to sell off their shares in fossil fuel companies, winning isn’t everything. But after a decade of determined lobbying, the divest side is suddenly doing a lot of winning. That tally, they noted, is bigger than the combined GDP of the U.S.
DESCRIPTION: On the heels of COP26, investors are not only thinking about the climate-related risks of companies within their portfolios, but they are also considering whether to make new investments or maintain existing investments in high-emitting companies or countries going forward. Engaging for NetZero.
DESCRIPTION: Last year marked a global shift in corporations adopting low-carbon and net-zero pledges as experts at the United Nations Climate Change Conference , COP26, declared that the climate crisis is at a critical inflection point. C commitment and 7,126 companies have joined the Race to Zero. SOURCE: Antea Group.
Sustainable investments should grow as divestment from carbon-intensive industries intensifies. As a result, we can expect to see personal, political and business incentives tilt in favor of more action to combat climate change. Faster private- and public-sector innovation to get emissions down should follow.
Regulators will soon provide investors with clearer guidance on the acceptable boundaries of collective action to achieve netzero and other sustainability objectives, according to competition lawyers. Competition barriers to collective sustainability initiatives by investors expected to be lowered. Limits to power of collaboration.
C increase over pre-industrial temperatures was hanging by a thread at the end of COP26, subsequent economic and geopolitical events appear to have dealt a blow to those ambitions – at least in the short term. The sense of optimism at COP26 turned out to be short lived. “We Beast from the east.
The UN-convened Net-Zero Asset Owner Alliance (NZAOA) says asset owners need to take a multi-pronged approach to climate engagement to ensure investee companies are decarbonising in line with their netzero portfolio targets. The effectiveness of proxy voting as an escalation technique is also questionable.
Head of Sustainability at CDPQ Bertrand Millot highlights the pension fund’s focus on decarbonising the real economy, as well as comprehensively divesting from the oil industry. In addition to divesting from oil, CDPQ plans to deepen its practice in the biodiversity space and expand the scope of its commitments in nature-positive themes.
The private sector’s ability to accelerate the pace of netzero transition is open to question. Even so, we were reminded how far the G20 nations are from meeting their COP26 commitment to keep 1.5°C This was a week in which the public realm seemed to make more of the running than those in the private sphere.
Pledge to divest over next two years follows mounting pressure from protesters. Pensioenfonds Zorg en Welzijn (PFZW) has announced it will stop investing in companies in the fossil fuel sector that do not commit to the Paris Agreement and ambitions outlined at COP26. Setting a 1.5°C
To finance the sustainable revolution, we need to bring a faster netzero transition and reduced carbon leverage to the heart of our system,” he observed. Does this mean polluters’ netzero plans are now on the right track?
This will take time and now time has run out for the new clean lobbying to have the necessary impact to save global netzero without an overshoot past 1.5 ° C. They are non-OECD countries and negative emissions technologies (NETs). None of this will be fun.
End of Week Notes While governments struggle to act The COP26 summit in Glasgow underscored two big things for me: One is that the world’s sovereign nations are not yet able to muster a fully coordinated and cooperative response to climate change, despite the scientific consensus on the causes?—?the the burning of fossil fuels?—?and
Aviva Investors expressly referred to divestment as a potential strategy to achieve these goals. But he said Blackrock would not pursue a divestment policy from fossil fuels, although the firm would allow clients to do so. Other leading managers were more circumspect in their 2022 outlines.
At COP26, the Glasgow Financial Alliance for NetZero ( GFANZ ) declared a sector-wide commitment of US$130 trillion – a number that has increased over the year to US$150 trillion – of private capital to transition the global economy to net-zero greenhouse gas emissions. Engagement ring.
These goals include net-zero GHG emissions economywide by 2045 and net-negative emissions thereafter, along with a 40% reduction in statewide GHG emissions from 1990 levels by 2030 and 80% by 2050. SCE’s Long History of Clean Energy Action. Department of Energy and the Los Angeles Department of Water and Power.
What are Australia’s stated netzero goals? Australia adopted an economy-wide target of netzero emissions by 2050 in the run-up to COP26. Climate Action Tracker (CAT) argues that Australia does not have a netzero target, arguing the federal government’s mid-century goal is not backed up by concrete commitments.
The letter also seeks a net-zero electricity grid by 2035, a 50 percent target for electric vehicle sales by 2030, and a renewed commitment to international climate finance. The fossil fuels divestment movement continues to grow and as indicated in a recent report by DivestInvest, 1,500 investment institutions, responsible for $39.2
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