Oxford Sustainable Finance Group and CGFI at COP26

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25/11/2021

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The Oxford Sustainable Finance Group and CGFI enjoyed a productive time at COP26. Our team hosted, presented at and joined a number of events to discuss issues of climate and finance.

Highlights include:

Launch of the Global Resilience Index Initiative

An international, multi-partner initiative, GRII will be the world’s first curated, open-source reference index

GRII addresses the data emergency that is contributing to the climate crisis

Launched during the COP26 Adaptation Day on 8th November under the patronage of Mark Carney, UN; Mami Mizutori, UNDRR; and Eric Andersen, AON & IDF

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UK Announced as the first Net Zero Finance Centre

The Chancellor Rishi Sunak set out the UK’s plans on Wednesday 3 November to become the world’s first net zero aligned financial centre and welcome “historic” climate commitments from private companies covering $130 trillion of financial assets.

These commitments will help to create a huge pool of cash that could fund our net zero transition, including the move away from coal, the shift to electric cars, and the planting of more trees.

Ben Caldecott, director of the UK Centre for Greening Finance and Investment (CGFI) said: “This is huge. The world’s largest international financial centre will become the world’s first net zero-aligned financial centre. This is underpinned by world-leading regulation and the economy-wide adoption of net zero transition plans. This will spur demand for green finance and accelerate decarbonisation, not just in the UK but wherever UK firms do business. This will make a real difference and means the UK financial services sector will play an even larger role in providing the capital and financial services required to deliver net zero globally.”

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Oxford Sustainable Finance Group & CGFI in the news

The team commented in a number of news stories emerging during the climate change conference.

Stay or Sell? The $100tn investment industry gets tougher on climate

Financial Times: Read more

BBC Radio 4 – Costing the Earth, COP26: A Turning of the Tide?

Read more

Firms to be Named and Shamed for ‘Greenwashing’ their climate record

The Times: Read more

Carney Vows ‘Hard Numbers’ as Big Finance Faces CO2 Reckoning

Bloomberg: Read more

Does the maths on Mark Carney’s $130tn net zero pledge stack up?

Financial Times: Read more

COP26: UK firms forced to show how they will hit net zero

BBC online: Read more

Article in The Conversation “COP26: Here’s what it would take to end coal power worldwide”. The Conversation.

https://theconversation.com/cop26-heres-what-it-would-take-to-end-coal-power-worldwide-171025    

World in 30 Minutes Podcast: “COP26 and Europe’s green grand bargain”. https://podcasts.apple.com/us/podcast/cop26-and-europes-green-grand-bargain/id340460705?i=1000540868034