We are pleased to announced that Capital Dynamics, alongside a worldwide group of investors collectively managing nearly $39 trillion in AUM, has signed an open letter calling on governments to radically raise their climate ambition ahead of and beyond COP27. This Global Investor Statement urges governments to implement domestic policies and take early action to ensure that their 2030 greenhouse gas emissions are aligned with the goal of keeping global temperature rise to 1.5°C.
The statement outlines key climate policies and actions governments must undertake to support green investment and reduce carbon risk, including:
- Guaranteeing long-term resilience and energy security by rapidly scaling up the deployment of low-carbon energy systems, electrification, flexibility, and storage, including the development of enabling infrastructure;
- Implementing robust carbon pricing mechanisms, rising over time, with appropriate coverage and adequate social considerations;
- Setting a deadline to phase out thermal coal power and fossil fuel subsidies and establishing plans and targets to peak and then phase out the use of other fossil fuels, in line with credible 1.5°C. pathways;
- Developing transparent just transition plans involving affected individuals, workers, and communities; and
- Establishing new or more ambitious commitments to end all deforestation globally.