Role of finance dominates COP26

Thank you Mike Bloomberg for your continued leadership on #climate Finance is no longer a mirror that reflects a world that’s not doing nearly enough. It’s become a window through which ambitious #climateaction can deliver the #sustainable future people want. It will help end the tragedy of the horizon. #COP26

I have talked a lot about the need for the public and the private sectors to come together to address climate change by mobilizing investments into new technologies to build sustainable economies. Having attended #COP26 last week in Glasgow, I’m still optimistic that we can get there, but we must acknowledge that a successful transition requires much more than what’s been done so far. ? Investors have a role to play, but capitalism works best with good public policy. Governments have to work not only with companies, but with each other. And we need to be more thoughtful about how to achieve a net zero transition that is fair and just. ? World leaders in recent years have been so focused on energy supply (pressuring the private sector) but they have done very little to change consumer behavior and overall demand. This is driving up energy costs and hurting low-income communities and developing countries. The reality is that the world still depends on oil and gas for many essential functions; and oil and gas companies will be key to a successful transition. That’s why I’m more convinced than ever that we should be working with them, not against them, to develop renewable energy sources and other solutions. ? As always, I am hopeful about the future. There is a spirit of collaboration and urgency at COP26 that has been missing. We can’t let this opportunity pass.

?? 'Money, Money, Money.. ..must be funny ..in a rich man's world' ?? Well, it may not be very funny at all but it is finance day at COP26. And the 'rich man' countries of the world have a lot to hash out, namely: their failed promise of paying $100 billion per year to those less rich and far more at risk from the impacts of climate change. And also today will be discussions about how to really gear our financial system to be focused on net-zero. Ideally, moving investments away from fossil fuels and integrating climate considerations into all financial decisions. At Circle Economy, we have three points we hope to see surface. We believe that investments in the circular economy can help us reach net-zero in three ways: ??Investing in circular businesses can help us reduce overall emissions. (The fewer resources they use, the fewer emissions they generate). ?? Investing in recycling can help us recover resources - especially important in light of resource shortages. (Better recycling infrastructure will galvanise the global market for secondary materials). ?? Investing in circular skills empowers people to act on climate. (Workers trained to repair products, for example, can cut overall demand for new products - slashing emissions) Read more in the slider below and in the article in comments. #circulareconomy #climatechange #cop26 #finance #netzero #greenertogether

Businesses and investors have significant exposure to risks from climate change – and at the same time, the race toward clean energy and sustainable infrastructure is a major opportunity for investment. Glad to be working with Mark Carney to help enlist the private sector in achieving nations' climate goals. https://bloom.bg/3mHcEFI

As climate finance day unfolds in #COP26, I'm excited to share this link to the OMFIF-Mazars Sustainable Finance Policy Tracker, a repository of information on different countries' approaches to mitigating climate risks in the financial sector. The tracker includes an interactive map and country pages for key jurisdictions providing an overview of: - Regulatory and supervisory activities, including climate stress testing - Disclosure requirements - Sustainable taxonomies - Net zero commitments - Carbon pricing - Nature- and biodiversity-related policies - Fiscal policies, including tax incentives and Covid-19 recovery - Capital market activity, including sovereign green bonds issuance and publication of green bond frameworks Launched last September at OMFIF's 'Revolutionising finance for net zero' symposium, the tracker will be updated quarterly and is meant to be a useful resource for any individual or institution working in climate finance and sustainability. One of our most ambitious projects to date, we hope to grow and expand the tracker to include more countries and additional indicators in the coming months. The SFPTracker is an initiative of OMFIF's Sustainable Policy Institute. For more information, visit https://www.omfif.org/spi. Levine Danae Emma David James William Simon Mingiyan Natalia Mausi Tamara COP26 - UN Climate Change Conference https://lnkd.in/e9FEmhY2

I'm excited to share that the Climate Finance Partnership (CFP) has held a final closing. Through CFP, we are partnering with some of the world’s leading governments, philanthropic organizations and institutional investors to accelerate climate infrastructure investment in emerging markets, where it is needed the most. Innovation and collaboration between public and private capital are crucial for a just transition to net zero. As government and business leaders convene at COP26 in Scotland this week, we hope CFP can serve as an example of the pivotal role that can be played by public/private partnerships. Learn more: https://bwnews.pr/3mDl6Wr #BLKAlternatives

On #mobilization, our goals are to increase financial flows to emerging and developing economies; create a private carbon offset market; develop country platforms to connect investable projects with private capital; and align development bank funding with #climate goals. #togetherforourplanet #COP26 The Climate Finance Leadership Initiative and numerous countries are developing a pipeline of investable projects. The insurance sector is developing products and tools to help close the protection gap and improve resilience in #climate-vulnerable countries. Multilateral, new, and regional development banks, finance institutions, and governments will algin investment with #climate goals and report alignment of their own lending portfolio; facilitate access to markets, de-risk investment and provide technical assistance. Financial market infrastructure providers, banks, and companies, are developing the infrastructure for scaling up high-quality voluntary carbon markets. #TSVCM

On #returns, our objectives are to ensure financial institutions have the frameworks to: assess the credibility of transition plans; measure alignment of investment portfolios with #netzero; and make their own commitments to net zero. ?? #TogetherForOurPlanet?#COP26? Firms, academia, and the NGO community have begun to review approaches and establish best practices on the credibility of companies’ transition plans to #netzero. The FSB Task Force on Climate-related Financial Disclosures (TCFD) has created a framework for measuring the alignment of investment portfolios with #climate targets. Conduct regulators and investors will develop consumer-friendly metrics that reflect investment alignment with #netzero. Most importantly, the Glasgow Financial Alliance for Net Zero #GFANZ brings together the most ambitious firms in every sector of #finance from every continent to align portfolios and lending with #netzero, disclose progress, and publish credible transition plans. Watch this space tomorrow for big news on #GFANZ. ??