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Divestment from fossil fuels is accelerating around the world. Besides dozens of universities (including Harvard and the University of Toronto), the divestment list now includes France’s Banque Postale, the State of New York, and Europe’s largest pension, ABP. The markets alone cannot ensure this happens in a fast and equitable way.
Over the past decade, many asset owners have made divestments out of fossil fuels. In fact, the total value of the institutions divesting is estimated to be US$40.5 trillion, according to data provided by the Global Fossil Fuel Divestment Commitments Database.
C of global warming, 50% of all existing buildings need to be netzero by 2040, increasing to 85% by 2050, according to the International Energy Agency. Do they divest so the poorly performing assets are no longer on their books? In order for the real estate sector to decarbonise in line with 1.5°C Hunziker said. .
Despite the precariousness of the pathway to netzero, COP26 generated a renewed sense of urgency and optimism as to how to support emerging markets and deal with heavy greenhouse gas emitters. Yet, as the latest United Nations Environment Programme’s (UNEP) annual gap report shows, policies currently in place point to a 2.8°C
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