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ICYMI, Opportunity Narrows on Meeting Paris Agreement Goals

Chris Hall

Focused on mitigation, the report noted that progress on the alignment of financial flows towards the goals of the Paris Agreement remained slow, with tracked climate finance flows distributed unevenly across regions and sectors. . trillion, warned that “only a very small window remains to meet the goals of the Paris Agreement”.

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What is the Science-Based Targets initiative (SBTi)?

Sphera

Reduction targets are “science-based” if they align with levels the scientific community deems necessary to meet the 1.5 - 2 °C temperature reduction target set by the 2015 Paris Agreement. In the Paris Agreement, world governments committed to curbing global temperature rise to 2°C above pre-industrial levels.

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From Ambition to Delivery

Chris Hall

The core question is: what must policymakers, corporates and investors do to make good on last year’s pledges and commitments to keep the world on track for net zero by 2050? More tangible definitions and frameworks around carbon pricing are a pre-requisite step, albeit an insufficient one, toward achieving net zero, panellists agreed.

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More Relief than Regret as Montreal Fails to Make it Mandatory

Chris Hall

A statement from 150 global financial institutions with US$24 trillion in AUM backed a “robust” GBF that provided a clear mandate for the alignment of financial flows, supported the disclosure of nature-related risks, impacts and dependencies, and outlined clear targets and definitions to enable the development of nature-positive projects.

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Safeguarding Our Forests

Chris Hall

As a growing number of asset owners commit to transitioning their investments to net zero, they are becoming increasingly aware of how deforestation threatens the realisation of their decarbonisation targets. . “We In Q1 2022 , forest destruction covered 941 km², which is a 64% increase compared to Q1 the previous year. .

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Think Global, Act Local

Chris Hall

But Putin’s war could have the opposite effect on the goals of COP15, the much-delayed UN conference to ratify the Global Biodiversity Framework (GBF) – often referred to as nature’s Paris Agreement – which is currently scheduled for Q3 2022. C and translated into a target of achieving net zero GHG emissions by 2050.

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Investors Search for Answers

Chris Hall

And while there are instructive parallels with the catalytic impact of the Paris Agreement on identifying and mitigating climate risks by the private sector, there are also important differences. Meanwhile, many have opted to retain their stakes and influence in other carbon-intensive firms as their net zero transition plans evolve.