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GFANZ to Direct Private Finance to Support NDCs – Carney

Chris Hall

Ex-BoE chief calls for “radical new approach” to mobilising investment in emerging and developed markets; also warns of stranded assets. Carney was speaking at the Net Zero Delivery Summit, organised by the City of London Corporation, in association with COP26 Presidency UK and GFANZ.

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The Glasgow Climate Pact for business: ambition, action and collaboration.

We Mean Business Coalition

For business, investments in fossil fuels are now far riskier because the market expects them to become stranded assets in the foreseeable future. As delegates head home, these are the key lessons that business leaders can take from Cop26. Nature came to Cop26 like never before. Their message to world leaders is loud.

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ICYMI, Governments and Regulators are Making the Running

Chris Hall

Even so, we were reminded how far the G20 nations are from meeting their COP26 commitment to keep 1.5°C Perhaps these outcomes should not be a surprise after BlackRock, the world’s largest asset manager, described many 2022 climate resolutions as “ prescriptive or constraining ”.

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With 1.5°C as the limit, COP27 outcome must signal the end of fossil fuels

We Mean Business Coalition

This would build further from COP26 in Glasgow when countries agreed to ‘phase down unabated coal.’ From an economic perspective, fossil fuels represent future indebtedness and stranded assets. There is a spark of hope. The science is clear that limiting global temperature rise to 1.5°C They are a poor investment.

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COP27: Get finance flowing in the right direction so business can cut emissions faster

We Mean Business Coalition

Will a company’s investment take it a step closer towards a net zero world, or will it be a stranded asset tomorrow? There has been significant development on reporting standards since COP26. Sustainability reporting provides the information the markets need to make good investments, finance the transition and track progress.

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Billions of dollars being used to fund coal power in Africa and Asia

Envirotec Magazine

In addition to hampering global efforts to curb carbon emissions and achieve net-zero by 2050, coal power finance carries substantial socio-economic risks for the countries that host projects, leading increasingly to stranded assets.

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Creativity and Collaboration Vital to Finance Nature

Chris Hall

Convened at COP26, we have already worked to set industry-wide standards for engagements, and are using these, together with the fast-growing set of tools, data and roadmaps to use our best efforts to eliminate the deforestation in our portfolios by 2025.