At COP27, Investors, Companies, and Policymakers Must Accelerate Urgent Action on the Climate and Water Crises To Cut Emissions in Half by 2030
COP27 provides a critical moment to build upon historic U.S. climate action and investments, as public and private sector leaders raise their ambition, deliver on commitments, implement policies to capitalize on the opportunities in the necessary transition to a zero emissions future, and ensure public finance to support adaptation and resilience for developing nations
November 3, 2022 /3BL Media/ - With 2030 only seven years away, the United Nations Climate Change Conference of Parties (COP27) presents a critical moment for galvanizing more public and private sector momentum on the climate and water crises, which are only growing worse, and accelerating urgent action at speed and scale to slash global greenhouse gas emissions in half by decade’s end. Ceres, along with its partners, will call on investors, companies, and policymakers to build on the progress since COP26 and turn commitments into even more ambitious actions and implement bold policies in line with the scientific need to limit average temperature rise to no more than 1.5°C. The risks to global economies, natural systems, and communities are beyond catastrophic if urgent action isn’t taken in the near term to reverse climate change.
On the eve of COP27, Ceres joined its partners in the Investor Agenda to release the most ambitious investor call for government action on climate change. The Global Investor Statement to Governments on Climate Crisis urges world leaders to adopt five key policy recommendations including: developing medium- and long-term climate strategies, transitioning energy away from fossil fuels, ending deforestation, strengthening disclosures, and bolstering climate finance, including adaptation and resilience financing for developing nations. The statement was signed by 602 investor signatures representing US $42 trillion in assets under management.
COP27 comes following a year of big gains in climate commitments among companies and investors and historic climate policy wins. Hundreds of companies and investors including nearly 300 asset managers with a combined $68 trillion in assets have made net zero commitments. As global leaders convene, more investors are developing Investor Climate Action Plans (ICAPs), detailing how they will achieve their goals. While companies likewise have made progress on developing their transition plans toward meeting their emission reduction targets within their operations and across their supply chain, Ceres continues to push for more aggressive steps to ensure deeper emission reductions in the near term and support companies looking at how to implement a just transition for workers and front-line communities.
On the U.S. policy front, the Inflation Reduction Act, opens up major opportunities for public and private sector acceleration of climate solutions. Moreover, it could help motivate other countries to follow suit in raising their own policy ambitions. The U.S. Securities and Exchange Commission is also on the cusp of finalizing a rule for mandatory corporate climate disclosure that would require consistent disclosures about the material and financial risks of climate change from all publicly listed U.S. companies. The work at COP27 can further support the U.S. and other countries related to climate disclosure.
“Now is the time for the most ambitious and urgent action on the global climate and water crisis. We’ve seen another record year of deadly, extreme weather events that are costing us lives, impacting vulnerable communities, and amassing hundreds of billions of dollars in damages. For the next seven years, we must marshal our collective forces and bolster commitments to cut greenhouse gas emissions by half by 2030 to avoid more irreversible effects of this growing crisis. The window for limiting global warming is fast diminishing.” - Mindy Lubber, Ceres CEO and President
At COP 27, Ceres experts will participate in a number of events to highlight the massive opportunities for investors, companies, and policymakers in the transition to a more climate resilient and water-secure future and the various groundbreaking initiatives and resources that can continue to help guide them as they map out their next actions. These include the Investor Agenda, Climate Action 100+, the Net Zero Asset Managers Initiative, the Valuing Water Finance Initiative, and the Ceres Ambition 2030 initiative, among others.
Featured events with Ceres experts include:
Sustainable Innovation Forum 2022 November 9-10, 2022 | Innovation Zone | Online
The Sustainable Innovation Forum 2022 will run alongside COP27, convening heads of state, ministers, CEOs, investors, and UN and multilateral dignitaries to discuss adaptation, mitigation and implementation, and provide a collaborative platform to push for stronger, more decisive national action plans and spotlight effective business action and innovative climate solutions.
Scaling Up Investor Climate Actions to Achieve Net Zero November 10, 2022 | 4:45-6:15pm EET | 10:45am-12:15pm ET | UNFCCC Blue Zone Room 9 | Online
A record number of investors are setting net zero goals. Featuring Ceres’ Kirsten Spalding and other senior representatives of the Investor Agenda alongside asset owners, asset managers, and investor networks. Speakers will explore Investor Climate Action Plans (ICAPs), engaging companies on transition planning, and enabling policy frameworks in line with 1.5°C to help make net zero investment portfolios a reality. Co-hosted by AIGCC, CDP, Ceres, IGCC, IIGCC, PRI and UNEP FI.
Cross-Sector Action to Increase Water Security in a Changing Climate November 10 |1:00-1:50pm EET | 7:00-7:50am ET | Blue Zone, Egyptian Pavilion and Online
Climate change is hitting the most vulnerable hardest and contributing to food insecurity, population displacement, and stress on water resources. Ceres’ Kirsten Spalding will join this discussion to explore approaches to increase water security and discuss Ceres’ efforts to mobilize the private sector on water action through the investor-led Valuing Water Finance Initiative.
World Climate Summit — The Investment COP November 13-14, 2022 | Park Regency, Sharm el-Sheikh, Egypt | Online
Ceres’ Kirsten Spalding will join this leading business and investment forum at COP27 to discuss opportunities to deliver environmental, economic and societal impact through the key drivers of technologies, policies and investments—crucial to achieve the net zero transition.
Talk Show Session #1 November 15, 2022 | 4:30-5:30pm EET | 9:30-10:30am ET | WMB Pavilion - Blue Zone, Auditorium B | Online
Ceres’ Amit Bando will host a talk show style session on energy and just transition issues with PSEG Executive Chairman Ralph Izzo and executives from the Vale Foundation. This session will be live streamed to Ceres' audiences to allow folks to engage remotely.
Ceres Roundtable: Financing a Just Transition November 15, 2022 | 12-1:30pm EET | 5-6:30am ET | Climate Action's Innovation Zone
Ceres’ Amit Bando partnered with World Benchmarking Alliance and Council for Inclusive Capitalism, will host a roundtable session on Private Finance to discuss how we hold the finance sector accountable to sustainability action.
Conversation on Climate-related Loss, Damage, and Adaptation November 16, 2022 | 4:15-4:45pm EET | 9:15-9:45am ET | Climate Action Stage, Innovation Zone | Online
Ceres’ Amit Bando will host a fireside chat focusing on a just and inclusive economy as aligned with climate justice. This event will be live-streamed.
Talk Show Session #2 November 17, 2022 | 5:30-6:30pm EET | 10:30-11:30am ET | WMB Pavilion - Blue Zone | Online
Ceres' Amit Bando will host a talk show style session on actionable solutions coming out of COP27. This session will be live streamed to Ceres' audiences to allow folks to engage with COP content remotely.
Go to https://www.ceres.org/events/ceres-cop27 for the latest updates.
About Ceres
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.
Media Contacts: Barbara Grady, Helen Booth-Tobin
