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While these are welcome steps in the right direction — given the recent backtracking among US asset managers on prior climate commitments — there are significant questions about how these companies can deliver risk mitigation results for their clients when stewardship teams are split.
With the globaleconomy heavily reliant on ocean health, a sustainable future is paramount. To date, the ocean and its ecosystems have provided significant benefits to the global community, including climate regulation, coastal protection, food, employment, recreation and cultural well-being.
Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 Clearly much more needs to be done to pivot towards more sustainableinvestment and lending practices.
International shipping accounted for 2% of global energy-related CO2 emissions last year, according to the International Energy Agency (IEA). Some companies will start acting and some won’t; there’s more risk of strandedassets.” What role should investors play?
Increasing gas infrastructure must be avoided to avert dangerous climate impacts and strandedassets.”. By including gas, the EU is “giving the false impression that gas is ‘green’, which might lead to the wrong investment decisions” and potentially “delay the large-scale investments we need into renewables”, says Diamantopoulou.
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