How capitalism can help solve the climate crisis - Aviva Investors

Despite the increasing clamour for a global ‘Green New Deal’, Steve Waygood, Chief Responsible Investment Officer at Aviva Investors, explains why a complementary International Panel on Climate Finance (IPCF) is also needed if we are to rise to the challenges ahead.

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History may well look back on 2019 as the year the world finally woke up to the threats posed by climate change. Yet, with the negotiation failures that occurred at COP25, the year ended on a significant downer. United Nations climate expert Alden Meyer summed things up when he reported an “almost total disconnect” between the science and what negotiators delivered at the 2019 United Nations Climate Change Conference in Madrid1.

A key question to ask now is how can the capital markets be corrected so that they amplify rather than undermine the ambition within the Paris Agreement?

1 ‘Total disconnect’: Voices from marathon Madrid climate summit,’ Reuters, 15 December 2019

Date of publication: February 2020

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