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COP28 may have not delivered all it promised, but investors now have a clearer idea of how the path to netzero will impact their portfolios. In this summary article, ESG Investor covers some of the areas with the biggest implications for asset owners. That’s a good outcome for a consensus document.”
This is the assessment of Eric Usher, Head of the UN Environment Programme Finance Initiative (UNEP FI) which brings together the United Nations and the financial sector to develop responsible investment agendas. For example, the NetZero Asset Owners Alliance is not led by sustainability teams, it’s typically CIOs who are driving it.”.
Jessica Smith, Nature Lead at the UNEP FI, says it’s time for biodiversity to take its place alongside climate in investor priorities. Smith says there needs more understanding of the progress already made aligning finance with climate risk, which is set out in Article 2.1c of the Paris Agreement on Climate Change. “We
The recent IEA report and UNEP gap report on netzero pathways have noted how difficult it will be to achieve the 1.5°C The previous IEA netzero report included various assumptions, including an increase in land use for bio-energy crops. A credible 1.5°C C climate goal. C goal within sight.
For those of us in the building industry, it means a steadfast urgency to accelerate our commitment to drive the total carbon of buildings to zero. The latest UNEP Emissions Gap Report found that as a global society we still do not have a credible pathway to achieve our common goal of limiting global temperature increase to 1.5°C.
Climate adaptation finance is also important for risk management of netzero 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.
This article first appeared in EuroNews. A failure of carbon markets now would slow humanity’s path to netzero emissions and derail financial innovation in other ecosystem services, María Mendiluce writes. C in reach. Nature-based solutions can deliver up to 12.5 gigatons of climate mitigation annually by 2030.
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. Analysing 340 residential and commercial real estate assets globally, CRREM found only a few were aligned to netzero. .
As highlighted by Jessica Smith, Nature Lead at UNEP FI, in this week’s ESG Interview , the TNFD’s approach consciously builds on and aligns with existing initiatives such as TCFD and Science Based Targets for Nature , to simplify and accelerate the allocation of capital to investments and activities that protect and support biodiversity. .
Banks and other financial intuitions (FIs) have the potential to help transition land-use to become ‘nature positive’ in addition to ‘netzero’, by redirecting investment to sustainable land-use projects. UNEP is working with national institutions and FIs to strengthen domestic regulatory frameworks in order to address this challenge.
New sheriffs have set up shop and are drawing up rules on both the supply and demand side of voluntary markets, which may eventually be reinforced by regulation introduced by policymakers in line with Article 6 of the Paris Agreement. . “At Global mangrove forests sequester around 22.8
SDSN signed a partnership agreement with the Climate Action Tracker (CAT) to collaborate in the coming years on areas of common interest, including around national net-zero strategies, pathways and policies.
Current climate pledges by governments are falling short, with the latest analysis by the UN Environment Programme (UNEP) putting the world on track for a temperature rise of between 2.4°C There are ongoing discussions and decisions to clarify under Article 6.4 To address the emissions gap and keep the 1.5°C C pathway.
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