Will COP27 failures lead to a radical rethink of finance?

ESG Clarity's team on the ground in Egypt analyse their findings

The high-level promises of COP26 have been broken. $100bn (£84.38bn) of capital has not been mobilised, and only around 30 new or updated nationally determined contributions have been provided.

Unsurprisingly, there was a sense of “scepticism and pessimism” coming into COP27 about the outcomes that would be achieved, Andrew Griffiths, director of community and partnerships at Planet Mark, told ESG Clarity at the conference.

It was certainly the case that no big finance announcements were made in comparison with last year, but that could be explained by the confusion they caused.

“We’ve spent the past year trying to figure out how to [meet those pledges],” Nazmeera Moola, chief sustainability officer at Ninety One, said.

Read the full story in ESG Clarity’s November 2022 digital magazine.

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Natasha Turner

Natasha is global deputy editor at ESG Clarity, part of the Bonhill Group, and has been a financial journalist for six years. She has been shortlisted for Story of the Year and Investment Journalist of...