The sixteenth session of the Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification (UNCCD) is set to take place in Riyadh, Saudi Arabia from 2 to 13 December 2024. This pivotal event marks a critical milestone in the global fight against land degradation and desertification.
Key Impact Points: Canada’s Commitment to Net-Zero The Canadian federal government is advancing a bold climate strategy to achieve net-zero emissions by 2050, requiring annual investments of $125 billion to $140 billion. A key component of this plan is a $93 billion suite of economic tax credits designed to attract
Key Impact Points: Catastrophic Loss of Species Human activity is driving a “catastrophic” decline in wildlife, according to the World Wide Fund for Nature (WWF). The latest Living Planet Report reveals that global wildlife populations have decreased by an average of 73% in the last 50 years. Tanya Steele, head
Key Impact Points: Understanding Desertification and Its Importance Desertification is the process where drylands become increasingly arid, driven by climate change, deforestation, overgrazing, and unsustainable agricultural practices. This degradation leads to loss of productive soil, biodiversity, and water resources, significantly impacting human life. The Global Scope of Desertification The United
Key Impact Points: NZBA and MUFG’s Strategic Role The NZBA, initiated by the United Nations Environment Programme Finance Initiative in April 2021, now encompasses 145 banks globally committed to aligning their financing to support a 1.5°C global temperature goal. MUFG, a pivotal member of the NZBA’s Steering Group and a
Key Impact Points: IFC, a member of the World Bank Group, in collaboration with HSBC Asset Management (HSBC AM), announced the creation of a specialized fund vehicle aimed at enhancing sustainability in the emerging market (EM) corporate bond sector. This initiative will support issuers that make significant contributions to sustainable
Key Takeaways The Rising Importance of Location-Specific Data During Climate Week NYC, MSCI hosted a crucial discussion on the low-carbon transition, emphasizing the growing relevance of location-specific data in climate risk assessment. Leaders from capital markets highlighted the “new mantra in assessing climate risk” involves a deeper focus on the
Deepening Decarbonization Decarbonization is the top priority to reverse the climate crisis’s critical momentum. Companies must develop clear transition plans and compelling narratives that demonstrate how they’ll deliver value and resilience through decarbonizing their businesses. “Transition planning is not a disclosure exercise but an innovation challenge,” emphasizing the need for
Key Impact Points: The leaders of Saudi Arabia, Colombia, and Azerbaijan are calling for a unified global response to tackle climate change, biodiversity loss, and land degradation. The nations, set to preside over key UN environmental conventions, introduced the Rio Trio Initiative during the UN General Assembly. The initiative emphasizes
Key Points: Surge in Climate Investments According to the CREO Syndicate, climate finance has experienced remarkable growth. From 2020 to 2022, annual global climate finance flows doubled to $1.4 trillion, representing 1% of global GDP. To achieve net-zero emissions by mid-century, these investments need to multiply, targeting an average of
