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8 Nov 2022

UN Environment Programme Finance Initiative

COP27: 602 investors call on governments to create just transition plans, guarantee long-term resilience and energy security

"600-plus investors call on governments to radically raise their climate ambition at COP27", 02 Nov 2022

The 2022 Global Investor Statement to Governments on the Climate Crisis has been submitted to governments before COP27 with 602 investor signatures representing almost US$42 trillion in assets under management. The statement represents a unified investor call on governments to implement the policy actions needed to address the climate crisis and accelerate the transition to a net zero emissions economy... In [this] most ambitious to statement to date, investors from 33 countries around the world have urged governments to implement five priority policy actions including medium- and long-term climate strategies, transitioning energy away from fossil fuels, ending deforestation, bolstering climate finance, and strengthening disclosures... [One of the key asks is that governments] take early action to ensure these targets are met by implementing domestic policies across the real economy, including carbon pricing mechanisms, a deadline to phase out subsidies for fossil fuels and thermal coal power, and targets to peak and then phase out the use of other fossil fuels, while developing transparent just transition plans and guaranteeing long-term resilience and energy security...