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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 Climate Change, Energy, Sustainable Finance
Pension Funds & Climate Risk
Nest, the £20bn UK government-backed workplace pension scheme, has sold its holdings in ExxonMobil and four other energy companies after criticising their progress on managing climate change risks.
Frustration over the response of some fossil fuel companies to the threat of catastrophic global warming is driving a small but growing number of influential pension funds to divest from businesses that are perceived as blocking progress towards a lower carbon economy.
“At Nest we aim to work with companies to encourage sustainable business decisions but will draw the line somewhere. The five companies being excluded have not done enough to convince us that we should remain shareholders".
Created a Post in ISLANDS, Agriculture, Climate Change
Soil Degradation Is Undermining Food Security In The Caribbean
Curbing soil degradation is critical to the food security and ecological sustainability of the Caribbean— yet unsustainable land management practices, coupled with the pressures of climate change continue to impact soil health and threaten to rob the region of its prospects for a food secure future. Indeed, 14% of the two billion hectares of degraded land in the world can be found in the Caribbean region.
Regionally, unsustainable agricultural practices, which include tilling, deep root removal, slash and burn and indiscriminate use of harmful chemicals, have contributed to the degradation and depletion of 75% of natural carbon stocks and biodiversity from the region’s agricultural soils.
Given their strategic importance to economic growth, environmental health, food security and human development, land practices that regenerate and promote soil health should be non-negotiable.
Created a Post in Sustainable Finance, Climate Change
Green Finance Platform 2021: Accelerating climate alignment through sustainable financial measures
With green finance taking centre stage at COP26, the Green Finance Platform is better positioned than ever to help align global financial systems with the Paris Agreement and Agenda 2030.
Our 2021 achievements: ▶️ Updated figures for the Green Finance Measures Database ▶️ Launch of the Sustainable Finance Policy Effectiveness Working Group ▶️ Support for the GEF Aligning Finance Policies project ▶️ New Knowledge Partners and continued knowledge management
? http://ggkp.org/ZbE
Created a Post in Climate Change
Great news for the internal Environmental and Social Sustainability of the United Nations!
The UN System Chief Executives Board for Coordination has endorsed the "UN Sustainability Strategy II" to mainstream sustainability considerations across all functions of the UN system and UN entities.
While the 2019 Sustainability Strategy I translated the vision into very precise commitments for greening the UN’s management functions, the new 2021 Sustainability Strategy II describes ten essential principles that should apply across the board, from the management of staff and facilities, to the implementation of programmes and to relationships with external partners and stakeholders.
I personally had the opportunity to work on it while interning at the UN Environment Management Group as well as contributing to its practical implementation while working at UNOPS.
Great job!
Created a Post in Climate Change, Forestry
Indigenous communities face severe consequences of climate change. This study, conducted over a span of seven years, quantifies the effects of land dispossession on extreme climate change events.
The database catalogues and examines forced migration in the United States, and how it has influenced environmental processes over time. The research suggests that forced migration lead to conditions in which tribal lands experience increased exposure to climate change risks and hazards and diminished economic value.
Created a Post in Stockholm+50, Climate Change
When we talk about climate action and just transition, we sometimes forget how important these factors are to ensuring and sustaining peace - without which property on this common planet cannot exist.
Speaking to a UN Security Council meeting yesterday, UN secretary-general Antonio Guterres has warned - once more - that climate change is “an aggravating factor” for instability, conflict and terrorism.
He said the regions that are most vulnerable to rising temperatures “also suffer from insecurity, poverty, weak governance and the scourge of terrorism". He said that when people lose their livelihoods after extreme weather events, “the promises of protection, income and justice – behind which terrorists sometimes hide their truce designs – become more attractive".
The urgency to act has never been stronger.
Created a Post in Climate Change, Green Recovery from COVID-19, Sustainable Finance
How is green finance integrated in governments' regulatory landscape?
The Green Finance Measures Database – supported by the Global Environment Facility – is a critical tool to monitor jurisdictions’ leadership in defining market standards for climate neutrality and allow them to benchmark their green finance regulatory landscape against peers.
"With global CO2 emissions still rising, governments must shift the allocation of capital towards their #ClimatePledges"
The political dynamics underpinning a more coordinated approach to green finance measures – in response to the insufficiencies and inadequacies of market-driven solutions to green the financial system – are an important caveat. As climate-related radical uncertainty intersects with non-reversible climate tipping points, regulators and supervisors need to move beyond quantitative analyses that have characterized risk-based approaches to financial measures over the past 6 years.
Where financial regulators currently stand on addressing climate change?
An increasing number of green finance measures are being adopted around the world by policymakers and regulators in a shift toward green finance policy and regulation that goes beyond market-driven solutions.
In addition, 2021 saw a surge in green finance regulations, with 124 measures implemented globally. This reflects the awareness of governments that the financial system will need to be aligned with their net-zero commitments announced during the year. The growing number of green finance measures has been driven by renewed international cooperation, steered by the re-establishment of the G20 Sustainable Finance Study Group and the updated climate pledges announced in the lead-up to the COP26 UN Climate Change Conference in Glasgow in November 2021.
Created a Post in Cities and Urban Development, Climate Change
Hamburg’s Resilient City in a City