Alliance of European Mayors - Mayors of Europe’s Post

Today, we launch "A Green and Just Planet: The 1.5°C Agenda for Governing Global Industrial and Financial Policies in the G20" - the final report of the G20 Group of Experts to the Task Force on a Global Mobilization against Climate Change (TF-CLIMA), which I co-chair alongside Vera Songwe. This report sets out a framework for making green growth achievable across the G20 and globally. It calls for a paradigm shift in how we approach economic development and climate action, emphasizing that sustainable and inclusive growth can be achieved by aligning industrial strategies and financial policies with climate goals. We argue that all G20 states must act urgently to bring about the economy-wide transformation needed to limit warming to 1.5°C. This means adopting ambitious green industrial strategies oriented around Nationally Determined Contributions, taking a whole-of-government approach, and redesigning key government structures, tools, and institutions to support their implementation. Crucially, higher-income G20 countries should take a lead role in providing the financing required to advance these strategies. We call for reforms to provide cheaper long-term capital, especially for low- and middle-income countries, through changes to the global financial architecture, to align the strategies of national and multilateral development banks around climate goals, and to ensure a stable financial sector that takes systemic climate risks into account, providing the macroeconomic authorizing environment for a green transition.                                      We propose detailed recommendations in three critical areas: 1️⃣ Adopt green industrial strategies oriented around Nationally Determined Contributions (NDCs) backed by cross-ministerial and cross-sectoral collaboration and investment.   2️⃣ Reshape financial policies and institutions to unlock access to affordable green finance and enable investments in a low-carbon, sustainable future. 3️⃣ Ensure equitable global governance of both green industrial strategy and green finance to ensure that all countries can benefit from green growth. Read the full report to explore how we can transform our approach to economic development, reshape markets, and scale up affordable green finance for a sustainable, equitable future. It's time for the G20 to lead the way in pursuing new development pathways grounded in ambitious green industrial strategies, affordable green finance, and equitable global governance. It’s time for an approach to economic growth that delivers for both people and planet. Read the full report here ➡️ https://lnkd.in/emdbySfz (scroll down to the download report section)

Well worth a read of this.

Mariana Mazzucato. Great job. I like the way that the group effectively challenges three prevalent myths promoted by NGOs and corporations regarding climate [and biodiversity action] action: first, that market forces alone can drive decarbonization without government intervention; second, that governments lack sufficient resources to address climate challenges; and third, that blended finance (using public funds to reduce private investment risks) is inherently more cost-effective than direct public investment. While the report rightly emphasizes that achieving sustainability requires fundamentally restructuring economic systems and financial flows, its narrow focus on climate issues overlooks the interconnected nature of environmental challenges (for instance, biodiversity is mentioned only three times in the report). As "Our Common Future" emphasizes, we face a single, integrated crisis rather than separate environmental problems. Finally, the term "whole-of-government approach" seems unnecessary, as it simply describes what should be a standard practice: integrated and systemic governments with the capacity to design and implement coherent and multisectoral policies. #climatechange #biodiversity #policy #development

This is NOT a « report as usual ». A bold roadmap for making green growth achievable by aligning industrial strategies and financial policies with climate goals. Now are we or are we not serious about the 1.5 degree C goal? Das is the question!

A pretty difficult week for those concerned about climate, nature, and equity issues.   David Shukman's post neatly articulates many of the likely outcomes of a Trump Presidency - stepping out of the Paris agreement, a gutting of climate-focused US institutions, and the further politicisation of the concept of ESG.   But it's worth remembering (as we did for a client recently) that there was massive progress made on climate through 2016 - 2020, in spite of politics, as the business case for sustainability drove momentum:   📈 Rapid growth in the percentage of global GDP covered by Net Zero targets (best estimates of a move from c5% to above 50% - and the trend has accelerated since then)   📈 Rapid solar PV growth (c150% increase in capacity globally, rapid decrease in cost - and the trend has accelerated since then)   📈 Rapid growth in electric vehicles (c300% increase globally, from less than 1% of global market share to closer to 5% - and the trend has accelerated since then)   📈 Rapid growth in companies setting climate targets (c200% increase globally in setting SBTi-aligned net zero targets - and the trend has accelerated since then)

What’s next in climate finance? Join us November 13th at #COP29 to explore potential answers in our conversation co-hosted with Boston Consulting Group (BCG): http://ms.spr.ly/6043W3cWd Two panels of investors, policymakers and climate leaders from civil society will examine: The role of private finance in enabling a just energy transition, and progress resulting from specific policy initiatives, green taxonomies and the carbon markets. Moderated by Elchin Mammadov, executive director, MSCI research, and joined by BCG’s Douglas Beal, partner and director, sustainable investing and social impact. Practical applications in adaptation and resilience investing. Moderated by Veronica Chau, partner and director, sustainable investing and social impact, BCG, with help from Linda-Eling Lee, head of the MSCI Sustainability Institute.

At Climate Week New York, #Mission2025 - the global coalition of real economy leaders - is stepping up to support governments to harness investment positive climate policies within ambitious national climate plans to boost national competitiveness and security. Data from the Energy Transitions Commission reveals how three investment positive policies are already unlocking investment in many countries, and could scale investment to $1trillion of the $3.5tn per annum required to transition the energy sector in line with 1.5C. The move comes less than six months before governments are due to submit their national climate plans (NDCs), and offer a decade-defining opportunity to deliver the political certainty hundreds of investors are seeking in order to finance the transition to a more resilient, low carbon economy. The Mission 2025 coalition now represents a partnership of over 70 organizations across the climate action ecosystem, as well as multinational businesses, including Allianz Fortescue IKEA Polestar SAP Unilever. #ClimateWeekNYC Read the full press release here: https://bit.ly/M25_Release Mission 2025 website is here: https://lnkd.in/eScuwKaH

At Climate Week New York, #Mission2025 - the global coalition of real economy leaders - is stepping up to support governments to harness investment positive climate policies within ambitious national climate plans to boost national competitiveness and security. Data from the Energy Transitions Commission reveals how three investment positive policies are already unlocking investment in many countries, and could scale investment to $1trillion of the $3.5tn per annum required to transition the energy sector in line with 1.5C. The move comes less than six months before governments are due to submit their national climate plans (NDCs), and offer a decade-defining opportunity to deliver the political certainty hundreds of investors are seeking in order to finance the transition to a more resilient, low carbon economy. The Mission 2025 coalition now represents a partnership of over 70 organizations across the climate action ecosystem, as well as multinational businesses, including Allianz Fortescue IKEA Polestar SAP Unilever. #ClimateWeekNYC Read the full press release here: https://bit.ly/M25_Release Mission 2025 website is here: https://lnkd.in/eScuwKaH

Key learnings from the recent #ClimateTransitionSummit, featuring expert insights from Baldwin Berges 🔎 The summit ended with a clear message: investment in green technologies is paramount. But success goes beyond capital. Strong political will and innovative financial structures are equally crucial. ➡️ Carbon pricing was a dominant topic, gaining renewed traction. Robust carbon markets are seen as a powerful tool for driving down emissions. Investors face a balancing act: achieving returns while safeguarding our planet. Education and accurate impact measurement are vital tools for responsible investment. ➡️ Climate tech brims with potential, but needs supportive policies and investment to flourish. Tailored solutions are key. Each sector, from energy to agriculture, has unique challenges that require specific approaches. ➡️ Collaboration is king. Governments, industries, and investors must work together to enact bold policies and drive impactful climate action. The summit highlighted the global dimension of climate change. Food security emerged as a critical concern, underlining the interconnectedness of climate action and global stability. ➡️ Explore further: Read Baldwin Berges's comprehensive analysis of the summit discussions in our latest blog post: https://lnkd.in/gn-jZ4ix   #ClimateAction #Sustainability #InvestmentStrategy #ClimateTech #GlobalCollaboration Contact Baldwin Berges: baldwin.berges@euggadvisors.com | +32 (0)471610792

Adaptability Policies for Climate Change: Navigating the Transition to a Greener Economy ✨ Adaptability policies for climate change focus on navigating the transition to a greener economy by addressing the risks and impacts of climate change in a just and equitable manner. These policies aim to ensure a smooth shift to net-zero emissions and climate resilience while creating decent work opportunities and leaving no one behind. Key points from the sources include: Just Transition for Climate Adaptation: This concept emphasizes adjusting to climate risks for businesses, workers, producers, communities, and supply chains in a fair and inclusive manner, considering the unequal impacts of climate change on vulnerable populations. Business Exposure to Climate Risks: Businesses are increasingly recognizing climate change as a significant strategic and operational risk, necessitating adaptation actions that integrate social and environmental objectives into their strategies IMF's Role: The International Monetary Fund (IMF) is mainstreaming climate-related risks and opportunities into macroeconomic and financial policy advice, focusing on mitigation, adaptation, and the transition to a low-carbon economy EU Funding for Climate Action: The EU's LIFE Climate Change Mitigation and Adaptation sub-programme supports innovative responses to climate challenges, aiming to develop, implement, and promote techniques for climate action and governance improvements at all levels Adaptability policies for climate change play a crucial role in fostering sustainability, resilience, and inclusivity in the transition to a greener economy, ensuring that climate risks are effectively managed while promoting social and economic well-being. ✨ Transitioning to a greener economy offers significant economic benefits, as highlighted in the provided sources: Global Economic Growth: Transitioning to a net-zero economy by 2050 could result in global gross domestic product being 7% higher than under current policies, indicating a positive impact on economic growth. Investment Opportunities: Moving towards an inclusive green economy creates vast opportunities for investment and job creation, potentially lifting millions out of poverty and delivering long-term economic benefits. Productivity Boost: Increased investment in low-carbon technologies, such as green electricity and energy storage, has the potential to boost productivity and economic growth in the long term. Innovation and Infrastructure: The transition to a green economy incentivizes research and development, infrastructure spending, and accelerated renewal of equipment and buildings, fostering innovation and modernizing infrastructure. #talentserve