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Article

31 Oct 2021

Author:
Sagarika Chatterjee, Director of Climate Change, UN PRI

UN Principles for Responsible Investment staff call on governments to put the world on track for 1.5 degrees rise & on investors to step up

"COP26 must keep a 1.5-degree world alive", 28 Oct 2021

All eyes will be on Glasgow next week as leaders from many – but not all – countries around the world convene for the... COP26... We can see the threat of climate change all around: in the lethal storms, heatwaves and floods... We need to see swift and meaningful steps taken by both governments and investors to commit to halving global emissions from current levels by 2030 to put the world on track for 1.5 degrees... Overall, we want countries to leverage policies and head towards a direction where they follow science-based evidence to [s]ecure global net zero by mid-century and keep 1.5 degrees on the table and within reach through long-term climate targets, and [i]mplement near-term/interim goals and accountabilities to stay on track. Importantly, this necessitates fossil fuel phase-out... In addition to this, we must act now to protect... vulnerable communities in both developed and developing countries – concrete, reliable policies [to] provide a just green transition are urgent... For investors, the time is now for them to step up and act on climate. They can do this is by taking action with regards to their own portfolios and clients by setting net zero targets... The PRI will be convening government and investors at COP26 and beyond on ambitious, actionable climate targets in line with 1.5-degree warming goals agreed upon in the Paris Agreement...

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