Banks need to tread carefully after COP26, when starting their sustainability journey
Pathways and promises often fail to become policies. After Glasgow, banks will have to exercise careful judgement when selecting transition scenarios. Conference of the Parties in Glasgow (COP26) has a long lineage… The United Nations Framework Convention on Climate Change (UNFCCC) was created in 1992 to fight ‘dangerous human interference with the climate system’. The […]
COP26 – Mark Carney announces $130 trillion dollar alignment to fight climate change, from the private sector, including international banks.
Highlights the need to capitalize firms and projects that support the transition to net zero, over those that do not. Western banks must use science based pathways in their assessment. Business models must have credible plans for the transition. The full story can be read here
COP26 – 2.7 degree rise in global temperature built into current commitments.
The UN has warned that much more has to be done. Ambiguity around current net zero pledges. Net zero pledges, if met woud hold heating to 2.2 degrees. The 1.5 degree aspiration would need a halving of emissions within 8 years. The full story can be read here
COP26 – Over 100 countries, including Brazil, agree to end and reverse global deforestation.
The pledge includes: Conservation of forests and other terrestrial ecosystems and acceleration of their restoration. Trade and development policies, which promote sustainable development, and commodity production. Implement redesign agricultural policies and programmes to incentivise sustainable agriculture. The full commitment can be read here
COP26 – The ending of a coal fuelled global economy on the horizon
A consortium of banks, businesses and governments have committed to a coal free future. 23 countries have commited to phase out coal power. Tier 1 Banks have committed to end international funding of new coal power. Additional 190-strong coalition agrees to phase out coal power. The full story can be read here
COP26 – Methane pledge signed by 105 countries in Glasgow
The methane pledge, announced by the US and EU earlier in the year, has now been signed by 105 countries at the COP26 conference. Key points of the pledge include: Methane emissions cut by 30% by 2030 Global warming of 0.2 degrees would be prevented by the successful achievement of the pledge China, India and […]
