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NZBA Sets More Ambitious Climate Targets

Chris Hall

Alliance extends net zero targets to capital markets activities, as frameworks provide more tailored approach for banks’ transition strategies. The new capital markets targets will come into effect from 1 November 2025, while the rest of guidelines’ updated second version is effective from 22 April.

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Time for a fair phase out of fossil fuels

Corporate Knights

C above pre-industrial levels, according to the United Nations Environment Programme (UNEP). Retiring coal power plants early will, in 2025, cost an estimated US$164 billion, according to research from American non-profit RMI – a small price to pay when climate disaster damages topped US$210 billion worldwide in 2020 alone.

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Nature-based Solutions “Good Value for Money” – UN 

Chris Hall

A rapid doubling of funding for nature-based solutions (NbS) by 2025 can achieve a ‘triple win’ for environmental sustainability goals, but must be accompanied by an end to ‘nature-negative’ price-distorting subsidies, a new UN report said. . Currently, the private sector contributes just 17% (US$26 billion) of total investment in NbS.

UNEP 52
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Sink, Swim or Adapt

Chris Hall

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.

UNEP 92
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Starting to Adapt 

Chris Hall

Climate adaptation finance is also important for risk management of net zero assets, according to the UK’s Green Finance Institute. With adaptation finance flows remaining dangerously low to meet climate goals, has COP28 made a difference? Developed countries have also been asked to prepare a report on doubling by COP29.

UNEP 61
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Nature is Integral to Sustainability Reporting – ISSB

Chris Hall

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 net zero transition. . “We

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Take-off for the Net Zero Transition  

Chris Hall

COP28 may have not delivered all it promised, but investors now have a clearer idea of how the path to net zero will impact their portfolios. The first-ever mention of “transitioning away from fossil fuels” in COP final text was regarded as a major milestone on the path to net zero, even by those who acknowledged its multiple caveats.