Today 515 investors managing $35 trillion in assets released the Global Investor Statement to Governments on Climate Change - the largest-ever group of investors calling on governments to step up climate ambition.
Climate Action Network International, aware of the data in the latest IPCC Special Reports on 1.5-degrees Celsius, Land-use and Oceans and the Cryosphere respectively, understands that enhanced NDCs are required. Creating the conditions to make this possible, is crucial. Finance is always key in achieving ambitious targets and when an initiative coming from large investors asks governments to do more, our membership fully backs this call.
For humans as well as the ecosystems that support all life on earth, immediate and decisive climate action is clearly required. Now, from the responsible investors’ side it is as well.
As the statement says, “…the countries and companies that lead in implementing the Paris Agreement and enacting strong climate and low carbon energy policies will see significant economic benefits and attract increased investment that will create jobs in industries of the future.”
The potential bill that tax payers will foot for current inaction will be not only be in terms of climate-related impacts, as extreme or chronic weather events or stranded assets, but also witnessing how some countries will lose competitiveness in the coming new climate economy.
We support the Global Investor Statement to Governments on Climate Change and notice that these governments are still on time to make definitive announcements on actions to be taken to articulate coherent policy frameworks steering to sustainable, carbon neutral and climate-resilient societies.
We also demand from the statement’s signatories that they should walk the talk, as some of these investors are still financing fossil fuel corporations enying climate change.
In addition, they should also announce ambitious “solution side” projects that create the environmentally sustainable assets that responsible investors are looking for.