Countdown to COP26, Emissions Gap, Just Climate, Green Unicorns, and Dinosaurs
Here are 5 ESG insights you might have missed this week:
1. UNEP Emissions Gap Report 2021-
The Emissions Gap Report 2021: The Heat Is On is the 12th edition in an annual series that provides an overview of the difference between where greenhouse emissions are predicted to be in 2030 and where they should be to avert the worst impacts of climate change.
With climate change intensifying and scientists warning that humanity is running out of time to limit global warming to 1.5°C over pre-industrial levels, 2021 has been a fraught year for the planet.
The Emissions Gap Report 2021 shows that new national climate pledges combined with other mitigation measures put the world on track for a global temperature rise of 2.7°C by the end of the century. That is well above the goals of the Paris climate agreement and would lead to catastrophic changes in the Earth’s climate. To keep global warming below 1.5°C this century, the aspirational goal of the Paris Agreement, the world needs to halve annual greenhouse gas emissions in the next eight years.
Link to Source: https://www.unep.org/resources/emissions-gap-report-2021
2. Why The COP26 Climate Summit Will Be Both Crucial And Disappointing-
Such global gatherings remain the best forum to force change.
Even when COPs are hyped as the last chance to act, the rise in the atmosphere’s greenhouse-gas content and the associated warming of the climate continues, as our special report this week sets out. The process is ruled by consensus, which means that the pace is set by the least willing. And yet it still plays a crucial role.
For one thing, some COPs do in fact make a difference, as at the meeting in Paris in 2015, where countries pledged to keep the rise in Earth’s temperature since the mid-19th century well below 2°C. What’s more, the science, diplomacy, activism and public opinion that support COPs make them the best mechanism the world has to come to terms with a fundamental truth. The dream of a planet of almost 8bn people all living in material comfort will be unachievable if it is based on an economy powered by coal, oil and natural gas.
3. Countdown to COP26: Mini Series-
In the run-up to the hugely anticipated conference, Climate Council launched a ‘Countdown to COP26' mini-series, with each post highlighting the importance of a particular theme that must be discussed at COP26.
There is now only a number of days until COP26 kicks off. It is hoped that the two weeks of negotiations end with tangible action points and firm plans that will enable the world to reach net-zero emissions and achieve that all important 1.5-degree scenario, but many remain unsure.
The big question is, will COP26 be the ‘turning point for humanity' that PM Boris Johnson has said it must, or will the 26th global climate summit be no more than the ‘Blah, Blah, Blah’ that Greta Thunberg has described?
Link to Source: https://climatecouncil.com/articles/countdown-to-cop26
4. Al Gore Launches Climate Change Asset Manager-
New group has the backing of Microsoft, Ireland’s sovereign wealth fund and foundation linked to Ikea.
Al Gore, the former US vice-president, and David Blood, the former head of Goldman Sachs Asset Management, have set up a new asset manager that they say will turn the traditional investment model “on its head” by prioritising tackling climate change over short-term financial returns.
Just Climate, which launches on Wednesday with a mandate to invest in solutions that will help to limit global temperature rises to 1.5C since pre-industrial times, has the backing of Microsoft, Ireland’s sovereign wealth fund and a foundation linked to flat-pack retailer Ikea.
Link to Source: https://www.ft.com/content/c109225a-4702-4164-90be-3b3c2886a508
5. Blackrock CEO Larry Fink: The Next 1,000 Billion-Dollar Start-Ups Will Be In Climate Tech-
“It is my belief that the next 1,000 unicorns won’t be a search engine, won’t be a media company, they’ll be businesses developing green hydrogen, green agriculture, green steel and green cement”.
At the Middle East Green Initiative Summit in Riyadh, Saudi Arabia, Fink said climate change is a business opportunity, Fink said, because addressing it will require that virtually every segment of industry will have to be reinvented.
"As an asset manager at the nexus between owners of capital and companies and assets we invest in on behalf of them, we see this playing out every day," Fink said. "Asset owners are looking for investment opportunities that will come from this historic transition to net zero."
One more thing: From the UN Development Programme (UNDP), a 2-minute video launching the Don’t Choose Extinction campaign. Have a look and hear the wise words from someone who knows about extinction.
Find the video here: https://www.youtube.com/watch?v=VaTgTiUhEJg
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