New Delhi, Dec 8, 2008 : The momentum among non-party stakeholders worldwide towards a net-zero emission, resilient future continues to grow.This is underlined in the significant rise in numbers registered in data sources like the Global Climate Action Portal. The portal had 22,259 users around the globe as of October, a nearly 22 percent increase over 2020.
These actors include cities, regions and businesses, as well as investors.
Notable is the nearly 82% increase in the number participating businesses, bringing the total number of companies involved in climate action to 7,370.
CDP, one of the GCAP’s data partner, experienced a 35% increase in environmental disclosures between 2020-2021 — the highest level of new disclosures since its inception more than two decades ago.
The 2021 Yearbook for Global Climate Action captures this surge in activity.The yearbook, which is the fifth in the series, highlights the work done under the Marrakech Partnership for Global Climate Action (HPGA) and the High-Level Champions.
It identifies which sectors need acceleration and outlines the future vision for the Champions.
The three international campaigns of the High-Level Champions, Race to Zero, Race to Resilience and Glasgow Financial Alliance to Net Zero, have been instrumental in mobilizing non-party stakeholders, increasing the number credible commitments, and securing bold actions.
Nearly 7,800 people from 110 countries have joined the ‘Race to Zero’ as of November.This includes 67 regions, 1,049 city, 5,235 businesses and 52 healthcare institutions.
24 partners are currently part of the ‘Race to Resilience, which represents over 2,500 non-state actors organisations from more than 100 countries.Together, they will reduce the vulnerability to 2.3 billion people by 2030.
In the meantime, more than 450 financial institutions representing over $130 trillion in assets across 45 countries have joined the “Glasgow Financial Alliance for Net Zero” with the goal of mobilizing private capital for developing nations.
These include banks, asset managers and asset owners, insurers, and financial service providers like stock exchanges, data providers and investment consultants.
Although significant progress is already being made, evidence suggests that it must be accelerated in all areas of society and the economy to reach the Paris Agreement goals and avoid the worst effects of climate change.
One example is coal, which must be phased out at a rate more than five times faster that it is now.
This transformation is being driven forward by the Climate Action Pathways and the 2030 Breakthroughs.The State of Climate Action 2021, a World Resource Institute report, is also a driving force.
They present the sectoral visions to achieve a 1.5 degree Celsius resilient world by 2050, the short- and long-term milestones for each thematic area of the Marrakech Partnership, as well as the pace of global climate action.
The Race to Zero, Race to Resilience and Race to Zero campaigns will shift their focus away from building momentum to concrete action.
The Glasgow Financial Alliance for Net Zero will encourage convergence of approaches to a net zero transition.
The High-Level Champions created a five-year plan with a 10-year vision to further increase climate ambitions from all stakeholders through Marrakech Partnership.
The work will be organized under six core functions.These include: Mobilizing and aligning non party stakeholders towards science-based goals to maximise ambition; supporting the non-party stakeholder to drive system transformation; broadening global engagement with a focus in helping developing country stakeholders; tracking progress, enhancing transparency and credibility; and building a common narrative for the decisive decade.
The support of the global stocktake process in pursuit of Paris Agreement objectives will be one of the top priorities of the High Level Champions over the next two-years as encouraged by parties to Glasgow.
This includes examining how to best support non-party stakeholders in the developing countries and at regional level to take ambitious action and participate.
vg/khz/dpb #momentum #buildup #Delhi #StockExchange #SenSex #Nifty #India #Economy #Delhi #New Delhi #Mon
.
