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Leaders at the COP28 conference in Dubai have acknowledged the “significant” gap in funding for country-wide adaptations to climate change, which a new report launched at the conference puts at up to $366bn annually. The recognition comes amid the first-ever global stocktake, set to conclude at COP28, a process for countries and stakeholders to see … Read more
There is a lack of focus on Scope 3 emissions at COP28 and the general ambition is nowhere near where we need it to be, according to EQ Investors’ Louisiana Salge. However, the head of sustainability said she is excited to see the “mass allocation” of investment to renewable energy and the tailwinds this will … Read more
As new climate commitments are being made at COP28 in Dubai, it is predicted that 2023 will go down as the hottest year ever recorded. And despite earnest efforts made at the previous Conference of the Parties (COP) meetings, we find ourselves falling short on past commitments to combat climate change. Private-sector participants in the … Read more
Evenlode Investment has bolstered its stewardship team with the hire of Lily Postlethwaite as stewardship analyst. She joins after five years at Whitley Asset Management and will report directly to head of stewardship Sawan Kumar. In the role, Postlethwaite will assist the stewardship team in incorporating ESG risks into the investment process on Evenlode’s Income, … Read more
“Finance is a great enabler of climate action,” said UN climate change executive secretary Simon Stiell as he kicked off Finance Day, which included a series of pledges for the Green Climate Fund, commitments from international banks and support for debt relief for vulnerable countries. Here’s ESG Clarity‘s round-up of the key announcements: Green Climate Fund … Read more
Organisations and companies are demonstrating they understand the greater risk of climate change on their underlying businesses, but more needs to come from the government and policy level, according to representatives from EY. Speaking to ESG Clarity from Dubai early on Finance Day, Michelle Davies, EY’s global sustainability legal services leader, and Joost Vreeswijk, EMEIA … Read more
Unlocking the potential of high-integrity carbon markets played a significant role in discussions at COP28 on Finance Day, with senior representatives from multilateral institutions such as the World Bank Group and GFANZ working towards building and supporting the scaling of global carbon markets. Speakers at a roundtable focused on unlocking high-integrity carbon markets, hosted by … Read more
The Net-Zero Asset Owners Alliance (NZAOA) has launched tools to support signatories align their lobbying and advocacy and create a transition plan. Policy engagement The $9.5trn UN-convened alliance today published Policy Engagement Guidelines which are intended to help members actively align their policy engagement practices with their climate commitments. NZAOA sets out four policy engagement … Read more
Trustees at the IFRS Foundation have announced that Emmanuel Faber will serve a second three-year term as chair of the International Sustainability Standards Board (ISSB) when his current term ends in December 2024. Faber’s second term will start on 1 January 2025 and end on 31 December 2027, and has received the full support of … Read more
Today at COP28, the Asian Development Bank (ADB), Global Energy Alliance for People and Planet (GEAPP) and the Monetary Authority of Singapore (MAS) have announced plans to establish a blended finance partnership to accelerate energy transition in Asia. The three companies signed an agreement to mobilise $2bn in capital from the philanthropic and public sectors, … Read more