Skip to main content

Promoting Responsible Investment, ESG and benchmarking


Last week was a great week for the UN on 22 April 2016, 175 Parties to the United Nations Convention on Climate Change (UNFCCC) signed the Paris Agreement. 15 Parties ratified it. The world’s largest emitters, the United States and China were among the signatories (together they represent approximately 38% of greenhouse gas emissions). This multilateral treaty broke the record of member states signing on the first available day (Associated Press, 2016). The Paris Agreement will enter into force when it’s ratified by 55 countries, representing at least 55% of global emissions. After the success of the 22 April event, the Paris Agreement will hopefully enter into force earlier than anticipated.      
Also last week on the 21st the PGA held a High-level thematic debate on achieving the sustainable development goals. debate focussed on the key enablers for sustainable development – finance, technology, data and partnerships – and, in particular, on the kind of actions that are needed to unlock the resources needed to attain the goals.
A key theme throughout was the need for different actors to work better together.
“Effective partnerships can create coalitions of willing actors that can share and diffuse knowledge, costs and expertise. And they can open new markets and prepare the ground for innovative and strategic developments,” 
Mr Lykketoft said. “Much of this, however, depends on the engagement of a diverse range of actors, which requires, amongst others, that we overcome challenges relating to trust and understanding between those actors.”
A large number of private investors and companies participated in the one-day event and outlined the kind of contributions they are making to enable implementation. Many, for example, said that they were ready to finance green investment but they called for regulatory frameworks that make such investments more financially attractive than traditional investment opportunities.
I co-chair two events one in the Financing for Development Forum and the other a policy room in the PGA event with Shari Spiegel Chief from the FfD Office. 
The meetings looked at changes that would be needed in company behaviour – e.g. PRI and ESG reporting and long-term investing - to achieve the Addis Ababa 2030 Agenda and the SDGs.
 Steve Waygood of AVIVA said "Not delivering them would be the world's most significant market failure."
The question is how to incentivize the private sector to re-allocate the tens of trillions of dollars invested in capital markets. It also looked at gaps in the system and better benchmarking of data,


Comments

Popular posts from this blog

Guest Blog Mike Barry: 5 things we learnt on Marks and Spencer Plan A journey over last 12 months

Guest Blog by Mike Barry:  Director of Sustainable Business (Plan A) at Marks and Spencer

It’s that time of year, publication of our annual sustainability (Plan A) report. After the harum scarum dash to gather, collate, assure, sign-off and publish a wealth of data we can breathe (for a moment!) and reflect on what it all means.
Here are some quick insights into what we’ve learnt at M&S in the last 12 months on our Plan A journey.
1. Succession – Nine years is a long time in the world of sustainable business. How many corporate plans have come and gone since we launched Plan A in 2007? Too many! The continuity offered by having a single multi-year plan has been incredibly important. It’s allowed us to take long term decisions in a very short term turbulent retail marketplace. It’s allowed us to build the skills and capabilities in our business units to integrate Plan A into their ways of working. It’s allowed us to pick our battles, knowing that occasionally we’ve just got to let a …

Bokova out? Georgieva in for next UN Secretary General

The rumors that have been circulating for the last month have now proven to be true. The Bulgarian government has withdrawn support from Irina Bokova as their candidate for UN Secretary General and replaced her with Kristalina Georgieva, the European commissioner for budget and human resources.
There is some evidence that the right of center parties in European capitals have been behind this with some articles appearing in the last few weeks against Bokova. The Guardian reported on the 26th: “one of her (Kristalina’s) staff members was hacked and emails purporting to be from one of her top aides were sent out to the rest of her office, instructing them to attack Bokova”There is no question that Kristalina has the cv and record to be a very good UN Secretary General. She is a strong supporter of sustainable development issues she will pick up the SDGs and climate agendas with ease. She is dynamic and very personable and was very active around last week’s UN General Assembly High Level se…

Rest in Peace Tania Valerie Raguz 'one of our own'

Photo by IISD/ENB 
It is with deep sadness that I heard of the passing of Tania Valerie Raguz.

Many of us will have worked with her at United Nations meetings over the past ten years when she was the First Secretary of the Mission of Croatia to the UN.

Tania Valerie Raguz was on the Bureau for Rio+20 and a Vice-Chair Of the Bureau of the seventeenth session of the Commission on Sustainable Development (CSD) and  most recently she had joined the world of NGOs working as the Public Affairs Advisor for the World Animal Protection previously know as World Society for the Protection of Animals. WAP had been very active around Rio+20 and the Sustainable Development Goals (SDGs) and she helped their work particularly around the SDGs.

Tania played her role in helping to frame the agenda that we are all committed to delivering on. CSD17 was one of the more successful CSD and without Rio+20 there would be no Sustainable Development Goals.

Photo by IISD/ENB I will miss her positive energy, laught…