It's been a momentous week for climate action, as the Intergovernmental Panel on Climate Change (IPCC) published its 2023 report, highlighting that there is "a rapidly-closing window of opportunity" to ensure a liveable future for all. It came days before world leaders gathered in New York for the UN 2023 Water Conference.
Companies need to understand the speed at which change will come, the cost of extreme weather, the impact on supply chains, the increase in regulation and the increasing concern about liabilities.
According to the Intergovernmental Panel on Climate Change (IPCC), the solution to climate change lies in climate-resilient development, which involves integrating adaptation measures with actions to reduce or avoid greenhouse gas (GHG) emissions in ways that provide wider benefits.
The IPCC Climate Change 2023: Synthesis Report brought into focus the losses and damages being experienced around the world after climate change accelerated extreme weather. Although its warnings were overwhelmingly urgent, it said that immediate action could deliver the transformational change essential for a sustainable, equitable world.
Measurabl, a technology platform for ESG data management, has acquired building management software company WegoWise. The deal expands its data capabilities and provides access to the residential real estate market.
The carbon offset standard setting body and registry Verra has released a new methodology for quantifying emission reductions for biochar. This follows increasing interest and doubts regarding biochar’s durability for carbon sequestration.
The financial services sector can significantly impact net zero transition through capital allocation, stakeholder involvement and client engagement. Through its deal with Climeworks, UBS is also demonstrating its role as a catalyst for emissions reductions and removals.
South Pole, a leading climate solutions provider and carbon project developer, has partnered with carbon credit removal platform Carbonfuture to digitise MRV of biochar projects sold through the voluntary carbon markets.
Despite mounting international pressure and risks of deforestation linked to Indonesia’s palm oil industry, only 22% of Indonesia’s palm oil companies have implemented deforestation policies
Effective climate risk analysis is crucial to prepare companies and economies as the world shifts to net zero and experiences more and more climate disasters. However, analysing climate risk is still not fully standardised and understood, leaving knowledge gaps, which could impact financial stability.