Politicians gear up for pressure from investors over climate change initiatives prior to COP29 conference
The Investor Agenda, a coordinated initiative by organisations such as Ceres, CDP, and the Institutional Investors Group on Climate Change (IIGCC), has called on governments to increase the ambition of their climate commitments in the lead-up to COP29. The UN Climate Conference is scheduled to take place between 11 and 22 November in Baku, Azerbaijan.
The 2024 Global Investor Statement to Governments on the Climate Crisis, launched by the Founding Partners of The Investor Agenda, is a call for governments to introduce policies that will enable private capital to drive a transition to a sustainable economy. The statement has been signed by more than 500 investors, including CalpERS, CalSTRS, CDPQ, many Asian institutional names, UK's local government pension funds and pools, Europe's largest pension funds and asset managers, among others.
The statement outlines five key policy areas for urgent action: economy-wide public policies, sector-specific strategies, addressing biodiversity and water-related challenges, mandating climate-related financial disclosures, and boosting private investment in climate initiatives in developing economies. Stephanie Pfeifer, CEO of the IIGCC and Investor Agenda Steering Committee member, described the statement as the most ambitious yet.
Rebecca Mikula-Wright, CEO of the Asia Investor Group on Climate Change (AIGCC) and Investor Group on Climate Change (IGCC), emphasized the importance of strong policies for climate solutions. She stated that the right set of strong policies will unleash a wave of capital to fund the climate solutions that the global economy desperately needs. Mikula-Wright also called for enhanced action on nature and emerging markets finance.
Pfeifer echoed these sentiments, emphasizing the need for clear policy commitments. She believes that strong policies will enable private capital to drive a transition to a climate-resilient, nature-positive, net-zero economy. The deadline for investors to sign the 2024 Global Investor Statement to Governments on the Climate Crisis is 1 November 2024. The statement will be presented to world leaders at COP29.
COP16 and COP29 are identified as the ideal settings for governments to respond to investors' asks. The 2024 Global Investor Statement to Governments on the Climate Crisis is the most recent statement in a series of statements coordinated by The Investor Agenda. The Investor Agenda believes that these strong policies will enable private capital to drive a transition to a climate-resilient, nature-positive, net-zero economy.
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