02 November 2022

UN EP FI: 600-plus investors call on governments to radically raise their climate ambition at COP27

The statement represents a unified investor call on governments to implement the policy actions needed to address the climate crisis and accelerate the transition to a net zero emissions economy.

The 2022 Global Investor Statement to Governments on the Climate Crisis has been submitted to governments before COP27 with 602 investor signatures representing almost US$42 trillion in assets under management.

Effective policies in line with limiting global warming to no more than 1.5°C are essential for accelerating and scaling up private capital flows needed for a climate-resilient, net-zero transition. In the 13^th and most ambitious to statement to date, investors from 33 countries around the world have urged governments to implement five priority policy actions including medium- and long-term climate strategies, transitioning energy away from fossil fuels, ending deforestation, bolstering climate finance, and strengthening disclosures.

The full asks can be found in the statement but a summary is as follows:

1. Ensure that the 2030 targets in their Nationally Determined Contributions align with the goal of limiting global temperature rise to 1.5°C.
2. Take early action to ensure these targets are met by implementing domestic policies across the real economy, including carbon pricing mechanisms, a deadline to phase out subsidies for fossil fuels and thermal coal power, and targets to peak and then phase out the use of other fossil fuels, while developing transparent just transition plans and guaranteeing long-term resilience and energy security.
3. Contribute to the reduction in non-carbon dioxide greenhouse gas emissions and support the effective implementation of the Global Methane Pledge to reduce emissions by at least 30 percent from 2020 levels by 2030.
4. Enable climate finance from the public and the private sector for mitigation, adaptation, and resilience, with a particular focus on the needs of developing countries.
5. Strengthen climate disclosures across the financial system, including transition plans.

The statement is coordinated by the seven Founding Partners of The Investor Agenda – AIGCC, CDP, Ceres, IGCC, IIGCC, PRI, and UNEP FI. Together, these investor groups have collaborated to bring together and elevate the best investor guidance on tackling the climate crisis and advocate collectively for public policy to accelerate the net-zero transition.

To help advance the climate transition, investors are also encouraged to develop and implement comprehensive Investor Climate Action Plans (ICAPs) and align their investments with the goal of net-zero emissions by 2050 or sooner, with credible interim targets, among other actions. Policy advocacy, such as the Global Investor Statement is a critical pillar within the Investor Agenda’s Investor Climate Action Plan framework.

About The Investor Agenda
The Investor Agenda is a common leadership agenda on the climate crisis that is unifying, comprehensive, and focused on accelerating investor action for a net-zero emissions economy. The founding partners of The Investor Agenda are seven major groups working with investors: Asia Investor Group on Climate Change, CDP, Ceres, Investor Group on Climate Change, Institutional Investors Group on Climate Change, Principles for Responsible Investment and UNEP Finance Initiative. For more information, visit theinvestoragenda.org and follow @InvestorAgenda on Twitter.

UN EP FI

© UNEP