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According to the IPCC, the concentration of greenhouse gases in the earth’s atmosphere is directly linked to the average global temperature on Earth, and the concentration has been rising steadily. The most abundant greenhouse gas, accounting for about two-thirds of greenhouse gases, carbon dioxide, is largely the product of burning fossil fuels.
There is alarming evidence that important tipping points, leading to irreversible changes in major ecosystems and the planetary climate system, may already have been reached or passed. One of the most urgent challenges facing countries across the world today is how to achieve economic prosperity and development while also combating climate change.
The Paris climate change agreement commits nations to limit global temperature rise to no more than 2°C above pre-industrial levels, with countries pledging to cut or curb their greenhouse gas emissions – through a combination of mitigation and adaptation measures – by 2030.
Created a Post in Sustainable Finance, Climate Change
When it comes to climate disclosure standards, what's the difference between ISSB and TCFD?
The IFRS Foundation has shared a helpful guidance that summarizes key differences between the two standards.
? What are your thoughts on the ISSB Climate Exposure Draft?
⏰ The Exposure Draft is open for comments until 29 July 2022.
Created a Post in Agriculture, Climate Change, Forestry
Did you know there’s another COP?
With just months to go until UN Biodiversity COP15, countries left Geneva without resolving many of the key elements of the Global Biodiversity Framework. Observers said the talks moved at a “glacial pace”, with some raising concerns that countries are “heading for Copenhagen” – a reference to the 2009 climate summit that was widely perceived to have ended in failure.
Read Elizabeth Mrema, chief of the Convention of Biological Diversity, reflections on the negotiations and her hope - which I personally completely support - climate change and biodiversity loss should be tackled together as one problem at UN summits in future.
Created a Post in Cities and Urban Development, Climate Change, Natural Capital
Greening Sydney 2030
Created a Post in Stockholm+50, Cities and Urban Development, Climate Change
PART 2 - The Stockholm+50 Preparation meeting (part 2). CCCRdg will follow the agenda and hope it promote Inclusion within societies and “globally”, thus Stockholm50 becoming an equity project - a healthy planet for the prosperity of all species.
LIVE https://media.un.org/en/asset/k15/k153s7e4mm
#unep50 #stockholm50 #agenda2030 #cop27
! The Stockholm+50 Preparation meeting. CCCRdg will follow the agenda and hope it promote Inclusion within societies and “globally”, thus Stockholm50 becoming an equity project - a healthy planet for the prosperity of all species.
Created a Post in Climate Change, Forestry, Sustainable Finance
Hi everyone! Feedback request | Global Canopy invites all pension fund managers, asset managers, or representatives from financial institutions, non-governmental organisations, and Indigenous peoples and local communities for feedback on guidance for Deforestation-free Pension Funds.
Pension funds have a powerful influence over sectors and industries that are strongly connected to deforestation, conversion, and associated human rights abuses. Pension funds have the ability to help drive change not just within their own investments but across the finance sector more broadly.
To enable pension funds to address their exposure to these issues effectively, and in line with best practice, Global Canopy, alongside partners Make My Money Matter and SYSTEMIQ Ltd., are developing guidance to enable pension funds to identify, address, and eliminate deforestation, conversion, and associated human rights abuses from their investments.
The consultation document linked below is a detailed outline for guidance that is being developed; it is not comprehensive or complete but has been produced to gain feedback from stakeholders on the topics and actions included.
We are asking representatives from pension funds, asset managers, financial institutions, rightsholders, Indigenous peoples, local communities and NGOs for feedback. Please click the link below, follow the instructions and complete the survey by 5th April 2022.
If you do not feel you fit into one of the above groups and would like to review the document, or if you have any questions on this document or the associated surveys please contact the Global Canopy team at guidance@globalcanopy.org.
Created a Post in Climate Change
For the people who are still wondering “How did we get here?”, I can tell you how
We marginalized the people who dedicate their lives to understanding the complexity of our world. We chose to read 360 characters instead of 360 pages. We cancelled before we tried to understand. We made (and lost) a quick buck instead of investing in long-term change.
Enhancing disclosure to scale up sustainable finance in China and beyond
In the latest contribution to the GEF Aligning Finance Policies project, Cheng Lin of the Beijing Institute of Finance and Sustainability provides updates on China's green finance landscape.
Mainstreaming disclosure is an essential step towards aligning financial systems with sustainability, both in China and worldwide - but disclosure alone is far from sufficient to guarantee a sustainable financial future.
? What are examples of green finance measures that can support or build upon climate-related disclosure?
Created a Post in Cities and Urban Development, Climate Change, Water and Sanitation
Perth’s Climate-independent Water Source
Yesterday, the United States Securities and Exchange Commission (SEC) proposed "The Enhancement and Standardization of Climate-Related Disclosures for Investors," a regulatory measure that would require certain climate-related disclosures from companies.
Under the proposed rule, SEC registrants would have to report on climate-related risks that are reasonably likely to have a material impact on their business, results of operations, or financial condition."
Companies would also be required to disclose their GHG emissions. This would include Scope 1 (direct emissions) and Scope 2 (indirect emissions from purchased energy); disclosing on Scope 3 emissions would also be required when material or the company has set a GHG emissions target or goal that includes Scope 3 emissions.
TCFD Chariman Mike Bloomberg, the TNFD, and others have applauded the proposed rule for aligning with TCFD recommendations. Several other jurisdictions worldwide have also already mandated climate reporting or announced moves towards it, including France, the UK, New Zealand, Brazil, Canada, Japan, Mexico and South Africa.
The rule will provide phase-in periods between FY2023-2027, depending on the registrant's filer status; an additional phase-in period will be provided for Scope 3 emissions.
What are your thoughts on the proposed rule?
Press release: https://www.sec.gov/news/press-release/2022-46 Proposed rule: https://www.sec.gov/rules/proposed/2022/33-11042.pdf Fact sheet: https://www.sec.gov/files/33-11042-fact-sheet.pdf