Global Investors Call for Stronger Climate Policies Ahead of COP29
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Over 530 financial institutions, managing a staggering $29 trillion in assets, have come together to push governments to enact stronger climate policies ahead of the COP29 summit in Baku. The coalition, consisting of global investors, is urging policymakers to implement critical strategies that unlock private capital for the net-zero transition, emphasizing the need for investment in developing economies and addressing the global biodiversity crisis.
Key demands include sector-specific decarbonization strategies, mandatory climate reporting, and economy-wide public policies to drive investment in clean energy and sustainable infrastructure. With emerging markets significantly underfunded in the net-zero race, the coalition stresses the urgency of unlocking capital flows to meet the $4.8 trillion annual requirement to reach net-zero by 2050.
As COP29 approaches, this call for action highlights the need for robust policy commitments that will accelerate the global climate transition and ensure sustainable development worldwide.
Highlights
$29 Trillion Push: Over 530 financial institutions are urging governments to unlock private capital for the net-zero transition.
Climate & Nature Goals: Investors demand sector-specific decarbonization and solutions addressing biodiversity challenges.
Focus on Developing Economies: The statement emphasizes increasing private investment in emerging markets to meet global climate goals.
Source: esgnews.com
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