The report from the Intergovernmental Panel on Climate Change drew a line in the sand in terms of the level of deterioration on Earth as we know it, and where it is heading. Scientific bodies tell us carbon dioxide emissions need to fall by about 45% by 2030 from 2010 levels, or the climate change repercussions will be devastating.
In response, a number of companies have committed to reach ‘net zero’ by 2030, 2040 or 2050, and it has been pleasing to see so many of them recognise their role in this much-needed transition. However, there has been a lot of talk and little immediate action, prompting concerns these long-term targets will be forgotten and action will only be taken when it is too late.
Read ESG Clarity‘s latest digital magazine here.
NN Investment Partners’ (NN IP) green bond analyst Isobel Edwards puts it plainly: “Too many companies and governments have been relying on green marketing. If companies had been focusing on implementing the advice that’s been given for years now, they could be in a good position to meet every target.
“We have waited too long, and we are now in a tough spot where companies cannot gently transition but instead need to make deep investments in their full Scope 1,2 and 3 emissions net reduction.”
Faced with the mammoth task of decarbonising the planet, it can be hard to fathom how financial services, in particular investment managers, can play their part in delivering on net-zero promises.
The analysis in the latest ESG Clarity digital magazine aims to outline a roadmap for the investment industry to complete the net-zero transition and where pressure needs to be applied. Read it in full here.