Menu
Menu
An Unparalleled Network of Influence and Impact
Menu
ESG Anaylst
The International Panel on Climate Change (IPCC) has consistently generated comprehensive reports on the current state of global warming, as well as the efficacy or inefficacy of efforts to address climate change. Recently, they unveiled their highly anticipated 2023 report which issues a stark “final warning” regarding the urgent need to mitigate the devastating effects of human activity on our environment. Indeed, the continued proliferation of greenhouse gas emissions has brought us perilously close to the precipice of irreversible environmental damage.
In response to this sobering report, UN Secretary General António Guterres has emphatically called for a massive and immediate global effort to address the crisis, declaring that the report represents a clear call to action for every nation, every sector, and every timeframe. The time for half-measures has passed; we must pursue climate action on all fronts and with a sense of urgency that befits the gravity of this crisis.
This report represents a milestone in the global effort to address the urgent and pressing issue of climate change. Combining the insights and expertise of thousands of the world’s leading scientists, the report distils the latest data and research into a comprehensive assessment of the current state of our planet’s climate. As a result, it has become an unparalleled resource for policymakers around the world, providing critical insights into the reality of climate change and the need for swift action.
Indeed, the significance of these reports cannot be overstated. Widely considered one of the greatest scientific endeavours in human history, the IPCC’s work has galvanized global efforts to address climate change and has helped to spur the development of policies and initiatives aimed at reducing greenhouse gas emissions.
However, the IPCC’s reporting hiatus has underscored the magnitude of the emergency we face, raising concerns that political action on climate change may jeopardise going forward. In past years, the IPCC’s reports have served as a benchmark for progress, prompting governments to systematically review and reform their climate policies and targets. Without this critical accountability from the world’s leading scientists, the question remains: will governments be able to step up and regulate their carbon outputs with the urgency and determination required to avert a climate catastrophe?
The findings of this report paint a stark picture of the current state of our planet and the urgent need for action to address climate change. Already, over three billion people live in areas classified as “highly vulnerable” to climate risks, and severe water scarcity affects at least half of the global population. The impacts of rising global temperatures have been devastating, including the loss of agriculture, food scarcity, and the destruction of natural habitats and wildlife. Sadly, many of these changes are now irreversible, and future catastrophes are all but certain. The only question that remains is how severe the impacts will be.
Indeed, the authors of the report make clear that we are rapidly running out of time to secure a liveable and sustainable future for all. Temperatures have already risen by 1.1C above pre-industrial levels, and if we continue our current trajectory, we will exhaust the remaining carbon budget before the next IPCC report is even published. The most vulnerable nations, which emit the least carbon, are already feeling the brunt of climate change. Discussions of climate injustice at COP27 resulted in the creation of a loss and damage fund to address the consequences of climate change for these nations. Although this fund will serve to mitigate the impacts of countries facing the brunt of climate change, what is truly needed is accelerated action, to create a world in which these climate impact disparities do not exist.
The IPPC suggests that the solution lies in building resilient development, by finding ways to adapt to climate change. The key obstacle to accelerate progress is insufficient funding and misaligned finance, so closing this funding gap is paramount to progress. The IPCC implies that the money to solve climate issues exists, it is simply a matter of removing the current barriers to aligning global purpose by ubiquitously investing in the same solutions.
The World Recourse Institute has summarised these into ten key points to mitigate climate change, these are as follows:
What is the roadmap going forward?
The roadmap from here to 2030 will be the central discussion later this in Dubai, where global leaders are set to convene for COP28. On the agenda is the first global ‘stocktake’ which will be used to assess a country’s process in reducing emissions in alignment with the Paris Agreement. From there, systematic policy reviews will take place to reallocate finances to the areas that require it the most – namely the ten aforementioned points.
In the meantime, Guterres called on local and regional governments to take drastic action to reduce emissions by investing in renewable energy and low-carbon technology. He advocated that rich countries must take the lead, aiming to reach net zero long before the original 2050 deadline that most have signed up to. If we hope to secure a “liveable and sustainable future for all”, net-zero targets need to be accelerated to be “as close as possible to 2040”.
For further detail, you can read the full IPCC report here.
Georgina Murrin is a ESG Analyst in Itriom’s London Office.
Itriom is the global impact platform helping leading families shape a better world. Itriom’s platform enables families to refresh and redesign their values, aligns them with the right UN Sustainable Development Goals, combining them in an agreed purpose and a Family Impact Charter. Itriom’s platform supports the development of impact initiatives and whilst providing discrete and secure spaces for peer-to-peer messaging and collaboration. Itriom’s core practices in Leadership, Geostrategy, and Sustainability benefit clients by developing strategies to engage and support the Next Generation in building a lasting legacy of which families can be proud.
itriom.com
enquiries@itriom.com
T: +44 (0)203 198 2277
© 2024 Itriom Limited. All rights reserved. Republication or redistribution of Itriom’s content, including by framing or similar means, is prohibited without the prior written consent of Itriom Limited. This material is provided for informational purposes only.
© 2024 Itriom Limited. Company Registration Number 134815 Jersey Financial Services Commission. Registered Office 9 Bond Street, St Helier, Jersey, JE2 3NP
ESG Consultant
Alizah is an ESG Consultant and researcher. She supports Itriom developing sustainability related products and services, helping our clients identify potential opportunities for creating positive environmental, social and sustainable impact.
ESG Analyst
Georgie is an ESG Analyst and researcher. She researches trends, develops insights and reports, and writes insight articles on sustainability and ESG related topics to ensure Itriom’s clients are up to date on the latest policy, progress and initiatives to inform the platform and help our clients maximise their positive impact.
Senior Partner
Practice Leader – Leadership & Resilience
Renowned family office thought leader, Tim works with UHNW families to ensure they are fully equipped to deliver their legacies inter-generationally and effectively.
Associate Partner
Practice Leader – Sustainability
Dr. Herb creates methodologies and frameworks for managing, measuring and assessing sustainability performance. His work identifies where maximum impact can be made.
Senior Partner
Practice Leader – Geostrategy
Simon harnesses research, liaison and networks globally to identify opportunities for Itriom, building the knowledge needed to deliver intergeneration legacies for UHNW families.
Managing Partner
Practice Leader – Strategy