News
Despite their net-zero pledges, deforestation remains a big blind spot for bankers
Deforestation caused by commodities such as soy and beef accounts for 10% of global CO2 emissions, a figure greater than that of the aviation sector. Yet despite a host of pledges and initiatives, finance continues to flow into companies with links to habitat…
Related Knowledge Center: Climate: forests
State of Play
Addressing domestic and international forestry issues.
Related Knowledge Center: Climate economics
State of Play
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”