SOURCE: Ceres
DESCRIPTION:
October 28, 2021 /3BL Media/ - Happening on the heels of yet another urgent and dire warning from the world’s leading scientists, the United Nations Climate Change Conference of Parties (COP26) marks the most consequential global climate summit in years and a critical opportunity for governments to raise their ambition and commit to the policies needed to tackle the climate crisis.
This week, a record 700 institutional investors collectively managing more than U.S. $51 trillion, roughly half of all assets under management globally, are calling for governments to end fossil fuel subsidies, phase out thermal coal, and mandate climate risk disclosures. At the same time, more than 750 companies are urging governments to cut emissions by 2030 and keep the 1.5 degree goal within reach, and require companies to disclose their climate-related financial risks. This marks the largest corporate call for mandatory climate risk disclosure in the U.S.
Companies are also emphasizing the need to tackle emissions from high-emitting sectors, such as transportation: more than 50 sent a letter last weeking urging government leaders to enact binding that will ensure sales of all new passenger and light-duty vehicles are zero emission by no later than 2035.
At COP26, Ceres leading sustainability experts will join the calls for greater climate ambition and action through a number of events between October 31 through November 12.
“We are running out the clock on our ability to stop the worst effects of the climate crisis. The time for urgent action from every investor, business, and government alike has never been greater,” said Ceres CEO and President Mindy Lubber. “Investors and companies want to see our world leaders take action to enact policies that will spur an economy-wide shift to a more just and inclusive zero emissions future. COP26 marks a key moment for climate action and will build momentum for the further action we know is needed to achieve the change we need to see at the speed and scale the crisis demands.”
Among the major events:
The Investor Agenda: Accelerating global investor actions for a net zero emissions economy, an official side event hosted by the Investor Agenda on November 10, 2021, 11am-12:15pm ET | 3-4:15pm GMT. Investors are beginning to set net zero goals, develop climate action plans, and engage companies on transition planning. And, now investors representing around 50% of global assets have signed the Global Investor Statement to Governments on the Climate Crisis. Featuring Betty Yee, California State Controller, Deanne Stewart, CEO of Aware Super, Fabio Alperowitch, Co-Founder of Fama Investimentos, and Hidenao Makiuchi, Managing Director of Dai-Ichi Life.
Road through Glasgow: Accelerating Investor, Business, and Government Climate Action, a Ceres-hosted virtual session on November 5, 2021, 12-1:45pm ET | 4-5:45pm GMT. Government, business, investor and labor representatives will join a conversation with Ceres experts to provide real-time analysis and key insight into the evolving issues being debated at COP26 through the lens of U.S. climate change policy. Featuring Damon Silvers of AFL-CIO; Anne Simpson of CalPERS; and Anne Kelly, Mindy Lubber and Kirsten Spalding from Ceres. Additional speakers to be announced.
Additional events:
- November 3, 2021, 10:30am-11:30am ET | 2:30-3:30pm GMT: Responsible Policy Engagement in the Blue Zone in the Business Pavilion for Climate Leadership. Ceres will host a conversation on the important role companies play in advocating for ambitious climate policy, and the need for companies to be consistent policy advocates when engaging with policy makers, whether as a company or by their trade groups on their behalf.
- November 3, 2021, 11:30am-1pm ET | 3:30-5pm GMT: Women in Finance Climate Action Group: Practical Steps to Deliver Finance for Climate Action and Gender Equality at the Tower Base South, Green Zone, Glasgow Science Centre. Ceres CEO and President Mindy Lubber joins Aviva CEO Amanda Blanc, Blackrock Head of UK Sarah Melvin, and more, for the Women in Finance Climate Action Group—a collective of women leaders from around the world—to discuss how we can tackle the connected issues of gender inequality and private climate finance.
- November 4 at 7am ET | 11am GMT: “The ‘Next Big Thing’ in Green Finance: Valuing Biodiversity” at New York Times Climate Hub at COP 26. Online and in Glasgow. Ceres CEO and President Mindy Lubber joins this panel as part of The New York Times Climate Hub, which will bring together citizens, scientists, inventors, academics, delegates and journalists to answer the most urgent question of our time: How do we adapt and thrive on a changing planet?
- November 8, at 8:30am ET | 1:30pm GMT: "Investing in the Clean Energy Innovations of Tomorrow" at the World Climate Summit–The Investment COP. Online and at the Hilton Glasgow. Lindsey White, Investor Network Director, joins government, business, finance and civil society to discuss stepping up climate ambition and achieving net zero emissions in the context of the Paris Agreement and a post-COVID-19 economy.
- November 9, 2021, 9:30am ET | 2:30pm GMT: U.S. Electric Utilities: Accelerating the Transition in the Blue Zone in the Business Pavilion for Climate Leadership. Ceres will co-host a conversation about U.S. electric utility commitments and the projected benefits of various federal climate policy initiatives currently under consideration in the U.S. in terms of the potential to accelerate carbon reductions from the electric sector to achieve 2030 and 2035 carbon reduction targets.
- November 8-10, 2021: Sustainable Innovation Forum at COP26. Online and at the Innovation Zone–Cessnock Quay, Glasgow. Ceres CEO and President Mindy Lubber joins Chris Dodwell from Impax Asset Management for "Greening the Real Economy: An Investor’s Perspective on Pathways to Net Zero'' on November 9, 10:35am ET | 3:35pm GMT, to discuss how COP26 must renew confidence in how national economies will get on track for net zero. Amit Bando, Ceres’ Chief Economist and Senior Advisor for Just and Inclusive Economics, joins “Connecting private capital to NDCs'' on November 10, 10:35am ET | 3:35pm GMT, to discuss how to mobilize Capital and blend finance to deliver the low-carbon transition.
- November 12, 2021, 6am ET | 11am GMT: Dialogue Meeting: Accounting for Climate. Online and in Glasgow. Ceres and its partners at Carbon Tracker, IIGCC, and PRI will explore the importance of accounting for material climate-related issues in financial reporting.
Reach out to Helen Booth-Tobin (booth-tobin@ceres.org) at Ceres or visit the Ceres COP26 webpage for more information.
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.
KEYWORDS: CERES, COP26, climate action
