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illuminem summarizes for you the essential news of the day. Read the full piece on UNEP FI or enjoy below:
🗞️ Driving the news: Over 650 investors managing $33 trillion in assets have signed the 2024 Global Investor Statement to Governments on the Climate Crisis, urging leaders at COP29 to enact stronger climate policies and updated Nationally Determined Contributions (NDCs) that align with a 1.5°C global warming scenario
🔭 The context: This statement, coordinated by the Investor Agenda's founding partners, calls for comprehensive policies across sectors to meet climate goals
• The signatories stress the need for economy-wide action and climate-related financial disclosures to mobilize private capital for climate resilience and nature-positive initiatives
🌍 Why it matters for the planet: With private investment critical to achieving global climate targets, the investors’ call highlights the urgency for government policies that facilitate a net-zero transition, particularly in high-emission sectors and emerging economies, to limit global warming and protect biodiversity
⏭️ What's next: The statement will be presented at COP29 in Azerbaijan on November 15, with hopes that governments will respond by increasing NDC ambitions and supporting a net-zero pathway, especially through clear, actionable policies and enhanced climate-related financial mandates
💬 One quote: “Effective policies at all levels are essential to accelerate the private capital flows needed for a climate-resilient, nature-positive, and just net-zero transition,” the statement declares
📈 One stat: 650 investors with $33 trillion in assets support the 2024 Global Investor Statement
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