More than 400 investors managing over $32 trillion in assets from around the world have signed the 2018 Global Investor Statement to Governments on Climate Change (GISGCC). The statement, released during the 2018 UN conference of the parties in Poland, reiterates investors’ support for the Paris Agreement and calls for governments to do the same by strengthening emissions targets and taking immediate action to meet them. The statement also raises concerns that, “...implementation of the Paris Agreement is currently falling short…”
Millions of people all over the world are beneficiaries to those $32 trillion in assets managed by the GISGCC signatories. This indicates investors’ - professionals in risk - assessment of climate change as an important risk to the future of business. The statement explains that investors are taking action on climate change, but that “it is vital that policy makers are firmly committed to achieving the goals of the Paris Agreement,” in order to accelerate the global shift to clean energy. Will this call for action be satisfied? Will governments implement climate-related financial reporting among other methods and stretch out their hands to the business community, or will politics get in the way? Furthermore, which nations are achieving public/private cooperation and how are they doing so?