EDF & CCSI collaborate to analyze net-zero financial sector initiatives

Date: 2022-06-08   Author: Pankaj Singh  Category: #news

EDF & CCSI collaborate to analyze net-zero financial sector initiatives

EDF, or Environmental Defense Fund, has reportedly announced its plan to collaborate with The CCSI (Columbia Center on Sustainable Investment) to analyze net-zero financial sector initiatives.

The project will also analyze opportunities to effectively align with the Paris Agreement objectives. The collaboration will be based on CCSI and EDF’s momentum to enable global investors to understand and adopt sustainable development.

According to Senior Manager for Investor Influence Initiatives Jake Hiller, this collaboration will allow the EDF to understand and steer the work of global financial institutions.

Hiller added that the project will bring more clarity to the player ecosystem, their commitments, partnerships, and the definition of climate leadership in the industry.

There has been a significant rise in the number of initiatives aimed at aligning investment and finance with the Paris Agreement. This has created a network of interlinked efforts representing assets worth trillions of dollars.

Some of the initiatives include a group of projects under the Glasgow Financial Alliance for Net Zero comprising those focusing on asset owners, banks, insurers, investment consultants, and financial service providers. These also comprise the Partnership for Carbon Accounting Financials.

Decisions made in the financial sector impact capital flows and corporate action. They also provide substantial insights into the public sector policies that shape the global economic systems. Therefore, it is important to curb global warming and attain climate justice by realigning financial sector activities to support a zero-carbon future.

CCSI Director Lisa Sachs has pointed out that there is an urgent need to realign global finances to achieve the Paris Agreement goal of 1.5°C degree warming.

The surging growth of such initiatives exhibits the interest and eagerness of the financial sector to make relevant engagement in the space.

However, there is no consensus or clarity over the extent of credibility, accountability, and transparency offered by their varied commitments to achieve their stated objectives.

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Pankaj Singh

Pankaj Singh Develops content for Algosonline, Market Size Forecasters, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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