The IRI and the Grantham Research Institute on Climate Change and the Environment at the London School of Economics have issued a new report, Climate Change and the Just Transition: A Guide for Investor Action. The report is accompanied by an investor statement, which has attracted the support of more than 100 institutions with over $5 trillion in assets under management (AUM).
Coinciding with the COP 24 Climate Conference in Katowice, Poland, the UN's Principles of Responsible Investment (PRI) and International Trade Union Confederation (ITUC) highlighted the critical role investors can play in fostering a dynamic and inclusive economy within climate change adaptation – a just transition. The report, intended to provide actionable steps toward this transition, was delivered in partnership with the Principles for Responsible Investment and the International Trade Union Confederation.
This post is a republication of a blog post of our partner, the Grantham Research Institute on Climate Change and the Environment at LSE, original here.
It is becoming ever clearer that action on climate change is not just environmentally essential but also provides one of the best strategies for delivering positive economic and social development. According to the latest report from the New Climate Economy (NCE), ambitious climate action could produce a direct economic gain of US$26 trillion through to 2030 compared with business-as-usual, along with a net employment gain of 37 million jobs. But it is also obvious that these benefits will not flow automatically or equitably. As well as rapidly reallocating capital from high- to low-carbon assets, we need to make sure that, in the NCE’s words, “the gains are shared equitably and the transition is just”.... Read more about Financing the transition: how investors can help make climate action inclusive
willirwinExciting that Spanish bank BBVA has signed the first sustainable credit facility aligned with the just transition principles, totalling €1.5 billion. Great impact for the @gri_lse nvjrobins1 @irinvest team!