|Call for climate accountability, climate funding breakdown, activist mobilization, and regulating for disclosure
Mary Robinson argues that we need climate accountability NOW. Last year’s COP26 summit failed to deliver results sufficient to address the climate crisis, so 2022 must be the year of accountability. Countries that are major emitters must deliver on financing for vulnerable countries.Photo Credit: Climate Account
Her message will likely resonate with the newly launched the African Activists for Climate Justice initiative. Read how they are planning to share coordinated efforts to counter climatic change.
Of course, big sums of money are being spent. For example, did you know that in in 2020 the G20 countries invested USD 120 billion in “Nature-based solutions? More desegregated and useful data is available in the State of Finance for Nature in the G20 report.
Turning to the role of financial markets, U.S. Securities and Exchange Commission Chair, Gary Gensler, takes to Twitter to explain why regulators need to look at climate risk disclosure. A useful thread.
Investors shifting out of fossil fuels sounds good right? The Economist reminds us of a downside if dirty assets are bought up by private firms subject to far less disclosure and scrutiny. The trend is clear – private equity spent $60 billion on fossil fuel linked assets in the past 2 years alone. Not only do those firms operate in the shadows but it risks further exacerbating a race to the bottom in remaining coal/oil production.