Transition Pathway Initiative (TPI)

How did countries do with ??net zero target setting? Find out in the new ASCOR report: https://lnkd.in/e6nbhESE ??Net zero targets??set a strategic direction for climate action and demonstrate the long-term ambition of countries. ??48 countries out of 70 assessed have net zero targets for 2050, a global 1.5C scenario deadline, but the targets range from 2030 (Barbados and Norway) to 2070 (India and Nigeria). 14 countries don’t even have net zero targets. ??Only seven countries have built interim targets between 2030 and 2050, setting an example for tracking progress: Barbados, Norway, Finland, Austria, Denmark, Germany and Sweden. ??96% assessed countries have committed to unconditional 2030 emissions targets, but over half of NDCs (63%) lack information on how much countries plan to rely on internationally transferred mitigation outcomes (ITMOs) to meet their targets. These are some of key findings in the new ASCOR report, State of Transition in Sovereigns 2024: Tracking national climate action for investors. Want to go deeper? Access the Report. ??Read it. ?Use it. ??Share it. https://lnkd.in/e6nbhESE This report was published by the TPI Centre, the academic partner of global asset owner-led initiatives, including Assessing Sovereign Climate-related Opportunities and Risks (#ASCOR) and Transition Pathway Initiative (TPI) #ClimateAction #NetZero #SustainablePolicy #ParisAgreement #ClimateFinance ?Authors: Antonina Scheer, Camila Cristancho-Duarte, Simon Dietz, Setenay H?zl?ok, Johannes Honneth, Sylvan Lutz, Giorgia Monsignori Carmen Nuzzo, Rory Sullivan Victoria Barron, Claudia Gollmeier, Esther Law, Adam Matthews, Chronos Sustainability

Sovereign bond issuers are making progress on emissions but remain off-track to meet 1.5°C targets, posing challenges for fixed income investors Transition Pathway Initiative (TPI) Chronos Sustainability Adam Matthews https://lnkd.in/epiXFFcw

A new report by the investor-led Assessing Sovereign Climate-related Risks and Opportunities (ASCOR) project has suggested that more transparency on the part of developing countries about the cost of essential climate mitigation and adaptation requirements could help unlock private and public funding. “Our findings highlight important climate policy gaps: it is especially concerning that only a few countries have made robust commitments to phase out fossil fuel subsidies or production," commented Antonina Scheer, policy fellow and research project manager at the Transition Pathway Initiative (TPI) Centre, which published the report.? #climatefinance #sustainability #ascor #funding Read more: https://lnkd.in/e2Hp5eku

The new #ASCOR report “State of Transition in Sovereigns 2024: Tracking national climate action for investors” is now out: https://lnkd.in/ehdM6EZe Topline highlights we noted in our press release (https://lnkd.in/e_Wk6_4M) are: ??Only one third of developing countries have been transparent about the costs of essential climate mitigation and adaptation, which may constrain public and private finance. ??No country has a 2030 NDC target ambitious enough to align with their 1.5°C benchmark, but two countries - Costa Rica and Angola - come very close. ??Only 16% of countries have a transparent and credible commitment to phase out ??? fossil fuel ? subsidies. ??81% of wealthy countries are failing to contribute to their proportional share of the US$100 billion international climate finance goal, or to set future finance targets that would meet such a share. For this year’s Assessing Sovereign Climate-related Opportunities and Risks (ASCOR) report, the countries assessed represent 85% of global greenhouse gas emissions, 90% of global GDP and 100% of three main sovereign bond market indices. The significant increase from the initial 25 to 70 countries makes the ASCOR tool a gamechanger for investors seeking to integrate climate considerations into their decision-making on sovereign bond investments. For the assessment results, access the ASCOR tool: https://lnkd.in/eyp5yWxe This report was written by Antonina Scheer, Camila Cristancho-Duarte, Simon Dietz, Setenay H?zl?ok, Johannes Honneth, Sylvan Lutz, Giorgia Monsignori and Carmen Nuzzo of the TPI Centre, and Rory Sullivan, Chronos Sustainability. With special thanks to Claudia Gollmeier at Colchester Global Investors Limited, and Mark Manning at Grantham Research Institute on Climate Change & the Environment, for their review of this report. The report was edited by Georgina Kyriacou. ASCOR is co-chaired by Victoria Barron at GIB Asset Management, Claudia Gollmeier at Colchester Global Investors, Esther Law at Amundi Asset Management and Adam Matthews at the The Church of England Pensions Board. The project is supported by Chronos Sustainability. #NDCs #ClimateFinance #TransitionFinance #NCQG #COP29

TPI is excited to announce that PGIM has agreed to become a TPI Research Funding Partner and to join our dedicated Research Funding Partner Council. PGIM is a leading global asset manager with US$1.4 trillion of assets under management across public and private asset classes, including fixed income, equities, real estate, private credit, and other alternatives. ? PGIM will join our current Research Funding Partners including our other recent arrival APG Asset Management alongside abrdn, BNP Paribas, Legal and General Investment Management, Marshall Wace, Neuberger Berman and Robeco. TPI would like to thank our Research Funding Partners for their continued support. Given PGIM’s focus on investing for the long-term underpinned by active, in-depth, high-quality investment research and analysis, it is great to have them on board in funding TPI’s research activities and we look forward to working with them further.

??BBC World Service Newsday?? asks Camila Cristancho Duarte at the TPI Centre at LSE: https://lnkd.in/dtjYUm8B Based on the commentary, “If we can’t count the money, how can we measure the impact of international climate finance?” (https://lnkd.in/eqhCgez7) which Camila co-authored with Sylvan Lutz, she was interviewed by Catherine Byaruhanga at Newsday, BBC World Service on 22 November in light of #COP29 and its climate finance negotiations: ??What do we know so far about the money promised to developing countries? ??How can we understand any kind of promised figures? ??Are you optimistic about the general trend that more money is going to be delivered to developing countries and spent in the right way? Camila’s segment starts at 47:44 of the entire program at source available at the BBC link above. The #ASCOR (Assessing Sovereign Climate-related Opportunities and Risks) data referenced in the interview provide the assessments of 70 countries on their performance across three pillars: Emissions Pathways, Climate Policies and Climate Finance. Whether or not the country is in lined with their commitment to contributing to the $100 billion of climate finance, the topic specifically noted in the interview, is listed under the Climate Finance section. Check out how your country has performed on the ASCOR tool: https://lnkd.in/eyp5yWxe As the academic partner of the ASCOR project, the TPI Centre has developed the publicly available and independent tool that assesses countries on climate change. The ASCOR project is led by asset owners, asset managers and investor networks. The ASCOR tool aims to inform investors’ decision-making on sovereign bonds and enable a more explicit consideration of climate change. The TPI Centre is part of the Grantham Research Institute on Climate Change & the Environment at The London School of Economics and Political Science (LSE).? #ClimateFinance #TransitionFinance #NetZero #TPITool #ASCOR With thanks to Liam Collins our media manager and Georgina Kyriacou our editor.

Join David Russell, Chair of Transition Pathway Initiative, and his co-panellists, Mark Campanale at Carbon Tracker and Willimeijn Verdegaal at Trex Analysis for discussions based on a recent Carbon Tracker report: Loading the DICE Against Pensions ?? Webinar - Loading the Dice: Flawed economics risking your pension,?savings & future dreams ?? 4 December 2024 at 11:00 GMT ?? Register here: https://lnkd.in/dj5pxiay

If we can’t count the money, how can we measure the impact of international climate finance? Find out here: https://lnkd.in/eqhCgez7 Sylvan Lutz and Camila Cristancho Duarte highlight the urgent need for #COP29’s New Collective Quantified Goal (#NCQG) to establish clear standards, accountability and transparency to bridge the climate finance gap in developing countries and avoid the same lacklustre outcome of the original $100 billion commitment made in 2009. This commentary draws on research conducted for the recently released?assessment of 70 countries’ climate performance (https://lnkd.in/eyp5yWxe)?by the?Transition Pathway Initiative Centre (TPI Centre) based at the Grantham Research Institute on Climate Change & the Environment. The TPI Centre is the academic partner of the?Assessing Sovereign Climate-Related Opportunities and Risks?(#ASCOR) project. #ClimateFinance #TransitionFinance #NetZero #TPITool The London School of Economics and Political Science (LSE) Victoria Barron, Claudia Gollmeier, Esther Law, Adam Matthews; Antonina Scheer, Simon Dietz, Carmen Nuzzo

Join David Russell, Chair of Transition Pathway Initiative (TPI) on the panel “Transition: The Net Zero Balancing Act” at the Responsible Asset Owners Global Symposia (RAOGlobal.org), #RAOEEurope24 on 21 November in London. David will be joined by his co-panellists, Mark H.ill at The Pensions Regulator, Naomi Clark at USS Investment Management Ltd., and Sonja Laud (Schemmann) at Legal & General Investment Management (LGIM). The panel will be moderated by Dr. Rory Sullivan at Chronos Sustainability. For the agenda and registration, click here: https://lnkd.in/eJJEhM8M

??Webinar Alert! ?? “Navigating Corporate Climate Frameworks: Climate Action 100+ and TPI Management Quality” Webinar: https://lnkd.in/ebHGksBW ??Tuesday 10 December 2024 at 16:00 GMT ?? Register: https://lnkd.in/ebHGksBW This webinar will present unique features of the Transition Pathway Initiative (TPI) Centre’s #ManagementQuality Framework as well as the Climate Action 100+ Disclosure Framework, followed by an investor panel discussion. The panellists will discuss how they utilise each framework to inform their stewardship and engagement with the hard-to-abate sector companies. Introduction and presentation: ??David Russell, Chair of Transition Pathway Initiative Ltd. ??Shafaq Ashraf, Project Manager, Climate Action 100+, Policy Fellow, TPI Centre at The London School of Economics and Political Science (LSE) ??Robert Ingham, Project Lead, Management Quality, TPI Centre at LSE Panel: ??Carlota Garcia-Manas, MSc, Head of Climate Transition and ESG Engagement, Royal London Asset Management ??Chris van der Merwe, Responsible Investment Manager, Brunel Pension Partnership Limited, Strategic Advisory Committee member, Transition Pathway Initiative ??Moderator: Robert Ingham We hope you will join us for a lively discussion.