Paris Agreement

DEFINITION: A global climate change deal signed at Paris at COP 21 in December 2015 and ratified by 97 countries in November 2016. The deal "emphasises with serious concern" the need to hold the increase in the global average temperature to "well below 2C" above pre-industrial levels, and "pursuing efforts to limit the temperature increase to 1.5C".

See also: Conference of the Parties (COP)

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Collectively, Paris Aligned Asset Owners now represent more than $2.35trn in assets 

Major UK pension funds among latest investors to join global net-zero commitment

Tesco Pension Investment, the London Pensions Fund Authority and Railpen are among 12 asset owners to have this week joined a global collaboration designed to spur the transition to net-zero-aligned investing.

World leaders are set to discuss a global biodiversity framework next month, as part of virtual CBD negotiations

Investors call for stronger global biodiversity framework to be delivered at COP15

A group of investors worth more than $10.6trn in assets under management has issued a statement ahead of the Convention on Biological Diversity's COP15 next month, calling for heightened global action to end deforestation and ensure sustainable land use.

edie commits to amplify Race to Zero membership by supporting readers, event attendees and club members in their decarbonisation efforts

edie announced as official Race to Zero Accelerator and media partner ahead of COP26

edie has today (21 September) been announced as an official "Accelerator" of the UN-backed Race to Zero campaign as part of a concerted effort to build momentum for the global race to net-zero emissions in the run-up to the COP26 climate talks.

When accounting for all available NDCs from the 191 Parties, the report warns that a “sizable” increase in emissions of around 16% will occur by 2030

UN: Climate commitments must redouble to meet Paris Agreement

Nations must redouble planned climate targets if the world is to meet the minimal threshold of the Paris Agreement, according to a new UN report warning that while emissions are being reduced, the pace of progress is falling behind required rates.

The survey found that 65% believe governments are failing young people

'The future is frightening': Climate change linked to psychological distress in young people

A global study of more than 10,000 young people aged 16-25 has found that a perceived failure from governments and nations on climate action is leading to cases of distress and anxiety, with some feeling future generations have been "betrayed" by inaction.

The MPs are warning that the Bank is failing to consider the impacts that biodiversity loss and the climate crisis will have on financial stability

MPs call on Bank of England to improve green finance approaches

MPs across all political parties have jointly written to the Bank of England, warning that it is failing to appropriately support the green economy by not pivoting away from the fossil fuel industry.

Asos will also ensure that at least 50% of leadership-level positions within the company a represented by women by 2030

Asos targets net-zero value chain by 2030 as part of sweeping new ESG strategy

Online fashion retailer Asos has launched a new sweeping sustainability strategy, outlining plans to deliver a net-zero value chain, embed circular design principles, increase human rights transparency and improve leadership-level diversity across the organisation, by 2030 at the latest.

The proposal will be tabled next year

EU plans certification scheme for carbon dioxide removals

The European Commission will publish a policy paper by the end of the year on "the sustainable management of the carbon cycle" - the first step towards an EU-wide certification scheme for negative emissions coming from agriculture, forestry and other sources, that will be tabled in 2022.

MPs remained in key climate positions in the build up to COP26

Kwarteng and Sharma keep key climate roles as part of cabinet reshuffle

COP26 President Alok Sharma and BEIS Secretary Kwasi Kwarteng have both remained in their respective positions, as part of the Prime Minister's cabinet reshuffle that saw former Environment Secretary Michael Gove step into the head of Ministry of Housing, Communities and Local Government.

The research finds that emissions are likely to be the same levels in 2030 as they are today

Just one country on course to meet 1.5C target, new research warns

Only Gambia is currently on course to deliver climate action that is in alignment with the 1.5C pathway of the Paris Agreement, according to new research from Climate Action Tracker (CAT), which warns that momentum on updating climate targets has stalled.

the WorldGBC is now calling for businesses to account for the whole lifecycle impact of all new buildings and major renovations

'Reduction-first approach': WorldGBC updates net-zero buildings commitment

The World Green Buildings Council (WorldGBC) has today (15 September) unveiled an update to its longstanding Net Zero Carbon Buildings Commitment, that aims to ignite a "reduction-first" approach to decarbonisation to halve emissions from the sector by 2030 and tackle lifecycle emissions.

The consultancy is calling for investors and corporates to strengthen relations and disclosure related to current or intended net-zero business pledges

Half of UK investors facing 'major' climate-related risks to assets

Around 50% of the UK's institutional investors are facing "major" climate-related threats that could impact the value of their portfolios - namely those focused on the private sector - according to new research.

The new report builds on the IEA's recent call to end the expansion of the fossil fuel sector immediately 

Report: Oil and gas firms must halve production by 2030 if world is to deliver Paris Agreement

Oil and gas companies must plan for major production declines by the 2030s to meet the 1.5C target laid out in the Paris agreement, or risk losing $1trn, according to a new report.

Amazon believes the Accelerator will enable farmers to utilise NbS to combat the climate crisis

Amazon launches nature-based solutions 'accelerator' to support farmers and cut emissions

Amazon has today (2 September) launched a new agroforestry and restoration programme that will utilise nature-based solutions (NbS) while improving livelihoods for local farmers in the Brazilian Amazonian region.

The report forms part of edie's Countdown to COP26 festival of content, supported by O2

edie's latest COP26 Primer report focuses on nature-based solutions

As part of the brand-new Countdown to COP26 Festival of digital content and events, edie has this week launched its latest "Primer Report" which provides need-to-know insights into the key themes of this year's crucial climate talks. Up next: Nature-Based Solutions.

Green policy decisions made this year will affect the climate for decades to come, the report warns

Go beyond net-zero and target net-negative emissions, climate scientists urge

A group of world-renowned climate scientists is arguing that ambitions for reaching net-zero emissions by 2050 will no longer be enough to avoid the worst impacts of global heating, in light of the fact that change is happening more rapidly than predicted.

This new series will be running regularly, bringing you the key headlines, statistics and events in the run-up to COP26. Bottom-left image: David Mirzoeff 

COP26 Action Tracker: Nations urged to respond to IPCC report as Cambo oilfield row rolls on

With less than 100 days to go until COP26, this new series from edie will provide a regular temperature check of global climate action from nations and businesses.

MPs from other parties are pressing Johnson and Sharma to do more to align domestic policymaking with net-zero ahead of COP26

'Sobering reading': Boris Johnson reacts to new IPCC report

Prime Minister Boris Johnson has responded to a major new report from thousands of the world's leading climate scientists, calling for all world leaders to treat the findings as a "wake-up call" in the run-up to COP26.

edie outlines how businesses can begin to respond to the report in order to accelerate decarbonisation and improve long-term resiliency against a changing climate

5 key corporate net-zero considerations based on the latest IPCC report

The Intergovernmental Panel on Climate Change (IPCC) has issued a report warning that irreversible and unprecedented changes to the planet are being caused by the climate crisis. Here, edie summarises how businesses should respond to the warnings in the new landmark report.

JBS’s chief executive Gilberto Tomazoni met with Alok Sharma, President-Designate of COP26

World’s largest meat company JBS joins Race to Zero initiative

The world’s largest meat company, JBS, met with COP26 President Alok Sharma to formally join the Race to Zero campaign, building on a net-zero commitment set earlier this year.

According to the report, no regions will be immune to the impacts of the climate crisis in the coming decades

'The package currently on the table is perilously inadequate': Green economy reacts to new IPCC report

The Intergovernmental Panel on Climate Change's (IPCC) Working Group 1 has published a major new report outlining how the severity of the physical impacts of the climate crisis will grow without immediate and deep cuts to emissions. Here, edie rounds up the key pieces of reaction from across the UK's green economy.

Pictured: A firefighter attending to wildfires in Greece. The IPCC's report outlines how increasing global temperatures and changing weather patterns contribute to extreme weather events.

IPCC report: Global temperature increase likely to pass 1.5C sooner than thought

The window in which to deliver the "deep emissions cuts" needed to prevent the worst impacts of the climate crisis is closing rapidly, thousands of scientists are warning, meaning that our best chance of delivering the Paris Agreement is to reach "at least net-zero" by 2050.

This new series will be running regularly, bringing you the key headlines, statistics and events in the run-up to COP26

COP26 Action Tracker: G20 members clash on coal as credibility of corporate net-zero targets questioned

With less than 100 days to go until COP26, this new series from edie will provide a regular temperature check of global climate action from nations and businesses.

The charity argues that land-based carbon removal methods could cause food prices to grow by 80% by 2050, pushing even more people into cases of hunger

Nations and businesses 'hiding behind net-zero smokescreen', Oxfam warns

Governments and corporates are relying too much on 'unproven and unrealistic' carbon removal and offsetting schemes in order to reach net-zero targets, with a new report from Oxfam warning that a land area five times the size of India would be required to create new forests for these measures.

As hosts of COP26, the UK is expected to encourage, or indeed pressure, other nations to submit raised climate action plans ahead of COP26 this November

Almost half of world nations fail to submit updated climate plans ahead of COP26

A little over half of the world's nations have submitted updated climate action plans ahead of the crucial climate summit in Glasgow later this year, with the UK now pressing for the likes of China and India to outline decarbonisation plans.

Make My Money Matter calls on the pension schemes to match the 1.5C ambition of the Paris Agreement

Pension schemes urged to set net-zero targets ahead of COP26

More than 80 defined benefit (DB) pension schemes have been urged to align with the Paris Agreement by aiming to reach net-zero emissions by 2050 at the latest while also ensuring a rapid exit from coal investments.

All of the state-owned businesses and major corporates analysed have increased either oil or gas production, or both, since 2014

Report: Oil and gas companies set to eat up 80% of global carbon budget

The oil and gas sector is set to burn through some 80% of the total global carbon budget the world will need to stick to if the Paris Agreement's 1.5C trajectory is to be realised, a major new report has revealed.

Currently, Shell is aiming to reduce the carbon intensity of its products by 20% by 2030

Shell to appeal court ruling compelling it to set more ambitious climate targets

Royal Dutch Shell has confirmed plans to appeal a court ruling ordering the energy major to set stronger targets to reduce greenhouse gas emissions.

This new series will be running regularly, bringing you the key headlines, statistics and events in the run-up to COP26

COP26 Action Tracker: China's ETS launches as UK's Cambo oilfield plans draw controversy

With less than four months to go until COP26, this new series from edie will provide a regular temperature check of global climate action from nations and businesses.

Both businesses are aiming for net-zero by 2040 at the latest

Inditex and Elsevier commit to net-zero emissions by 2040

Clothing giant Inditex and research publishing firm Elsevier are the latest corporates to have updated their corporate strategies, setting ambitions to reach net-zero emissions by 2040 at the latest.

More than 600 companies globally have committed to 1.5C targets

SBTi to increase minimum target-setting requirements to 1.5C

The Science Based Targets initiative (SBTi) is updating its strategic approach to increase the minimum ambition for corporate climate action from "well below 2C" to 1.5C above pre-industrial levels, as envisioned by the Paris Agreement.

Waygood has been with Aviva Investors for 14 years, founding its Centre for Sustainable Fiance Excellence

Aviva's Steve Waygood: Now is the time for finance firms to become climate macro-stewards

With the world on track for 3.2C of warming by the end of the decade, by UN estimates, Aviva Investors' chief responsible investment officer Steve Waygood is urging professionals in his line of work to go beyond their four walls and influence international climate plans.

More than 50,000 jobs in carbon-intensive industries would also be safeguarded

UK's carbon capture and storage market could create 50,000 jobs

The UK could become an early mover in the global carbon capture utilisation and storage (CCUS) market and create up to 50,000 jobs if new enabling policies are introduced.

Common offsetting projects include tree planting and other nature restoration or creation, as well as helping communities to access renewable electricity or clean cooking fuel

Carbon offsetting: Global governance body to be formed this year

With more businesses turning to carbon offsetting as a means to net-zero, the sector will need to grow dramatically - but concerns persist about greenwashing. To that end, plans have been drawn up to launch an independent governance body by the end of 2021.

As few as six materials, including concrete and steel, account for 70% of the construction-related embodied carbon

Report: Built environment failing to account for lifecycle emissions of projects

Businesses operating in the built environment sector have been called upon to adopt a whole lifecycle approach to assessing greenhouse gas (GHG) emissions, with a new report finding that less than 1% of global building projects currently calculate and report on lifecycle emissions.

The Barometer report has been published today (7 July) and is free to access 

How are UK businesses approaching the net-zero transition? Find out with edie's new Barometer

The first edition of edie's new bi-annual Net-Zero Business Barometer, providing a regular temperature check and progress update regarding the decarbonisation of organisations across the UK, is now available to download.

The letters request a response by 15 August

Investors call on banking giants to step up on climate and biodiversity commitments

More than 100 investors, including the likes of Aviva and M&G Investments, representing $4.2trn in assets under management have written to some of the world's biggest banks, calling on them to strengthen climate and biodiversity targets this year.

This new series will be running regularly, bringing you the key headlines, statistics and events in the run-up to COP26

COP26 Action Tracker: Recapping the G7 Summit and outlining a green policy wishlist

With less than five months to go until COP26, this new series from edie will provide a regular temperature check of global climate action from nations and businesses.

The new Tracker covers some $25trn of managed and owned assets

Analysis: Two-thirds of UK finance firms have climate targets, but most are failing to shift investments

While most of the UK's biggest banks and asset managers have updated their climate targets in light of net-zero, finance flows are still ultimately favouring high-carbon projects and businesses, according to new analysis of more than 1,200 financial institutions.

The Court concluded that the French Government is not taking "all the necessary measures" to meet its 2030 climate goals

'Landmark ruling': French Government ordered to align with climate targets within nine months

France's top administrative court has condemned the Government's failure to comply with the Paris Agreement and fight global warming, giving it nine months to get in line with the climate objectives it signed up to.

Priority areas for spending include energy, agriculture, food, water and land, cities, transport and manufacturing

World Bank increases climate finance for developing nations

The World Bank Group has issued a new spending plan through to 2025 that will ensure that an average of 35% of total spending is focused on climate adaptation and decarbonisation in developing countries.

The Group will also upskill employees to educate them on new climate-related initiatives as they are introduced

Addo Food Group targets net-zero emissions by 2035

The owner of food brands such as Wall's, Bowyers and Pork Farms has announced its intention to reach net-zero emissions by 2035 by setting science-based targets across its whole value chain in line with the 1.5C ambition of the Paris Agreement.

In 2019, Burberry set a science-based target aligned to the 1.5C trajectory of the Paris Agreement

Burberry to become 'climate positive' by 2040

Luxury fashion firm Burberry has updated its science-based targets in a bid to become "climate positive" by 2040, a move that will aim to decarbonise the value chain and utilise a bespoke carbon insetting fund.

The official communique covers most parts of the green agenda, but with detail lacking

G7: What was (and wasn't) agreed by world leaders to combat the climate crisis

From "green Marshall Plans" and net-zero energy sectors to a lack of clarity on green spending and transport decarbonisation, edie rounds up what was and wasn't agreed at the G7 Summit.

Lobbying demands detailed in the report include calls for jet fuel to be included in 'green' government funding and against higher environmental taxes

Airlines accused of lobbying against stronger EU climate policy

Aviation giants including British Airways' parent company International Airlines Group (IAG) and Ryanair have been accused of opposing proposals for stronger climate policy in the European Union (EU), as the bloc works towards a 2050 net-zero target.

All three companies are aligning targets with the Paris Agreement pathways

Kingfisher, DS Smith and Turner & Townsend unveil science-based targets

Screwfix and B&Q's parent firm Kingfisher has had carbon reduction targets consistent with the required pace to limit global warming to the 1.5C target of the Paris Agreement approved by the Science Based Targets initiative (SBTi), while both packaging firm DS Smith and consultants Turner & Townsend have unveiled net-zero commitments.

The best performer, the DAX 30, still failed to meet Paris Agreement requirements, with a 2.2C temperature trajectory

G7 nations failing to align major stock indexes with climate commitments, report reveals

None of the largest stock indexes operating in G7 nations are aligned with either of the Paris Agreement on climate change's two pathways, according to new research out today (10 June).

Domino's is currently working on setting science-based targets

Domino's introduces electric mopeds into delivery fleet

Pizza brand Domino's is set to introduce more than 200 electric mopeds for deliveries across London, after trialling the vehicles from NIU Technologies.

The roundtable discussed the barriers and opportunities facing business

Net-zero and COP26: Achieving Mission Possible

Six months out from the COP26 summit, edie hosted an exclusive virtual roundtable discussion with a select group of sustainability leaders, exploring how businesses can accelerate the net-zero carbon transition in the run-up to the crucial climate talks.

The UK Government has confirmed that the Summit will take place between 11-13 June in Carbis Bay, Cornwall

Climate change at the G7 Summit: Everything you need to know

World leaders are meeting in Cornwall this week (11-13 June) as part of the G7 Summit. The climate crisis is a key theme for policymakers going into the event, but how much prominence will it have as the world's largest economies attempt to respond to the ongoing coronavirus pandemic?

Through the initiative, asset owners commit to decarbonising pension funds and investment portfolios by 2050 at the latest

ABP and National Trust sign up to net-zero investment initiative

Europe's largest pension fund, the Church of Sweden and the National Trust are among six new signatories to a global net-zero asset owner commitment to decarbonise financial portfolios in line with the ambitions of the Paris Agreement.

Oxfam is calling on G7 nations to set new climate targets in the build-up to COP26

Report: Climate change to deliver GDP loss double that of Covid-19 on current policy levels

Nations could experience a loss in GDP double that of the economic crash caused by the coronavirus pandemic, if leading countries do not introduce more ambitious climate pledges, according to a new report warning that the G7 could lose 8.5% of its economy each year by 2050.

The science-based targets could be unveiled this year

Highland Spring commits to net-zero emissions by 2040

The Highland Spring Group has unveiled an ambition to achieve net-zero emissions by 2040, with targets in place to halve emissions by 2030 through soon-to-be-developed science-based targets.

Image: European Union

EU and Japan seal 'green alliance' in bid for climate neutrality

The European Union and Japan have reaffirmed their "shared ambition of reaching net-zero greenhouse gas emissions by 2050" at the conclusion of a bilateral summit which included the signature of an EU-Japan "Green Alliance".

HSBC must now publish a plan outlining its new phase-out policy

Shareholders pass vote for HSBC to phase-out global coal financing by 2040

Shareholders of HSBC have today passed a proposed management resolution that commits the bank to phase-out financing for the coal industry by 2040 worldwide, following successful campaigning from investors.

The chance of temporarily reaching 1.5C above pre-industrial levels has roughly doubled compared to last year’s predictions

World's hottest year on the horizon, new Met Office climate analysis warns

There is a 90% chance that one of the next five years will be the hottest on record, a new report from the Met Office and World Meteorological Organisation (WMO) is warning.

Currently, Shell is aiming to reduce the carbon intensity of its products by 20% by 2030

Dutch court orders Shell to strengthen carbon reduction targets

A Dutch court has ordered a groundbreaking ruling for Royal Dutch Shell to raise its commitments to carbon reduction, in what could mark the first of many legal cases against energy firms on climate grounds.

The module is currently focused on the mining and agriculture sectors – two of the most exposed sectors to biodiversity-related risks

ENCORE: UN-backed biodiversity module to help investors factor nature into spending decisions

A new UN-back module has been launched today to enable financial institutions to map their exposure to biodiversity risks based on sectoral activities, in a bid to push the economy towards a nature-positive future.

Pictured: The West Burton A coal power plant in Nottinghamshire. The UK's last coal plants will need to come offline by the end of 2024. Image: Richard Croft, CC ShareAlike 2.0, geograph commons

G7 nations agree 2030s net-zero targets for power sector

The leaders of the G7 nations have agreed a joint commitment to ensure their power sectors reach net-zero in the 2030s, setting up for the economy-wide transition by 2050.

Toombs outlined how business can contribute to each COP26 'goal', including a new fourth ambition on collaboration 

'Engage your suppliers and competitors': COP26 architect urges business collaboration ahead of crucial climate summit

The UK COP26 unit's director of partnerships and engagement, Matt Toombs, used his keynote speech at edie's flagship Countdown to COP26 event to outline exactly how businesses can properly prepare for the crucial talks.

The latest RECAI warns that future renewables deployment will require a further $5.2trn of investment

UK climbs energy investment rankings, but concerns persist over green finance availability

The UK has climbed one position to fourth in the rankings for EY's national attractiveness of renewable energy investment, but the organisation has warned that global green finance efforts need to improve considerably to meet clean energy demand for existing climate commitments.

IEA: World must stop petrol and diesel car sales by 2035 for net-zero transition

The International Energy Agency (IEA) has published a landmark report outlining the sweeping changes needed in the power, energy and heat sectors if the world is to have the best chance of limiting temperature increases to 1.5C.

The ITF believes that transport emissions can be reduced by more than 70% by 2050 through enabling policies

Global transport emissions to skyrocket 16% based on current policies

Global traffic emissions look set to rise by 16% by 2050 based on current policies, as demand for transport activity doubles, according to a new report that is calling for ambitious climate policies to reduce emissions from the sector.

BP has a net-zero emissions target set for 2050

BP shareholders reject tougher climate targets

More than one-fifth of BP shareholders supported a resolution from climate activists calling on the energy giant to set tougher emission reduction targets for its net-zero transition, but ultimately the filing was rejected.

Pictured: Sharma travelled to the Whitelee onshore wind farm, near Glasgow, to deliver the speech. Image: UK Government 

COP26 will go ahead in person, Alok Sharma confirms

COP26 President Alok Sharma has confirmed that the Government is planning to host the conference in-person rather than on Zoom, stating that face-to-face meeting is important to deliver "an inclusive summit".

The ‘Post-2020 Global Biodiversity Framework’ is set to be adopted by governments when the Conference of Parties to the CBD meets in Kunming, China, on October 21

Global Paris-style biodiversity agreement 'lacks scientific basis', researchers warn

Efforts to formulate a "Paris-style" agreement to halt global biodiversity loss lack definition, fails to align with the scientific need to reverse nature loss and place Indigenous People at risk, according to a global alliance of NGOs.

According to CAT, new climate plans from the US, the EU27, China and Japan are responsible for shrinking the emissions gap

Report: Nations falling short on collective efforts to meet Paris Agreement

Nations are adopting stronger climate targets in the build-up to COP26, but new research has revealed that current policies would still lead to global warming twice what it should be if the world is to meet the aims of the Paris Agreement.

BlackRock now manages more than $200bn in long-term sustainable strategies

BlackRock launches temperature-aligned investments funds

The world's largest investor BlackRock has unveiled two new temperature-based exchange funds aimed at helping investors align portfolios with the pathways of the Paris Agreement.

The LEAF initiative aims to mobilise at least $1bn to support emissions reductions by ensuring tropical forests that act as carbon sinks are protected from deforestation

Amazon and Unilever among businesses teaming with governments on $1bn deforestation pledge

A group of businesses including Amazon, Unilever, and Nestlé has joined the UK, US and Norwegian governments in setting up a new public-private initiative committing $1bn to combat the climate crisis through the conservation and preservation of tropical forests across the globe.

Policymakers were keen to confirm new targets ahead of the Biden Administration's Earth Day summit

Breakthrough as EU negotiators clinch deal on European climate law

European Union negotiators reached a deal on the European Climate Law after 14 hours of talks on Wednesday (21 April), allowing the EU to go into this week's US-hosted climate summit with an agreement on the bloc's 2030 target.

HP notes that focusing on the circular economy will assist with the net-zero ambition

HP targets net-zero value chain by 2040

HP has confirmed it will transform parts of its business from a transactional model to a services-based proposition, as part of a sweeping new climate strategy that will see the business's value chain reach net-zero by 2040 and embrace closed-loop materials.

The target will become enshrined in law by the end of June 2021

Sixth Carbon Budget: UK to reduce emissions by 78% by 2035

Prime Minister Boris Johnson has agreed to legislate a new target to reduce national emissions by 78% by 2035, including emissions from international shipping and aviation, following the Climate Change Committee's advice on the Sixth Carbon Budget.

The company also noted the necessity of working with governments and other sectors to unlock ways to accelerate the rollout of EVs

Toyota to review industry associations as part of carbon-neutral target for 2050

Japanese car manufacturer Toyota will review the industry associations it is part of to ensure they are compliant with the aims of the Paris Agreement, as part of a commitment to reach carbon neutrality by 2050.

The company met its 2020 climate targets, which were 2C-aligned 

Fujitsu sets 1.5C science-based climate targets

Japanese multinational IT firm Fujitsu has unveiled new climate targets, verified in line with the Paris Agreement's more ambitious 1.5C trajectory.

Investors are facing mounting pressure to raise climate ambitions, including from changing legislation on net-zero

CISL calls for standardised climate disclosure framework for investors

While most investors are measuring and disclosing their climate performance, it is hard to compare progress between companies because there is not a universal framework. This makes it more challenging for investors to be held to account or to accelerate progress.

While progress accelerated this year, the TPI is warning that high emitting companies are still, by and large, jeopardising Paris Agreement progress 

Report: Net-zero targets from corporates becoming more 'genuine'

An analysis of the climate commitments of 401 companies has found that the uptake of "genuine" net-zero targets - those regarded as ambitious and not greenwashing - has more than doubled in the past year.

Tropical forests and islands, as well as mountains, are facing higher extinction risks than the global average, according to the paper

Delivering Paris Agreement could help save most endangered species, report reveals

More than nine in ten plant and animal species will face challenges if the current global warming trajectory continues, a new study has revealed. But most species could be saved from extinction if the world delivers on the Paris Agreement.

The net-zero commitments cover business operations, digital infrastructure and the sector’s historic emissions

Crypto Climate Accord aims for 100% renewables and net-zero digital currency by 2040

A new global accord has been set up to align the swelling cryptocurrency market with the ambitions of the Paris Agreement by ensuring that blockchain and energy-intensive currency mining systems are powered by renewables and reach net-zero emissions by 2040.

The social aspect of ESG is expected to rise in prominence in both the corporate and financial sphere

The coronavirus 'white swan': Companies and investors ramping up sustainability commitments

The coronavirus pandemic is acting as a "white swan" moment that is accelerating corporate focus on long-term sustainability strategies, but better disclosure and communication is needed for investors to unlock new finance to spur the green transition.

Under the UNFCCC developed nations committed to financing $100bn annually by 2020, however, developed nations have failed to fulfil this commitment

G7 ponders increasing climate finance in build-up to COP26

Chancellor Rishi Sunak met with G7 finance ministers and central bank governors to discuss the role of finance in supporting the net-zero transition and implored developed nations to raise efforts to generate $100bn in annual revenue to support developing nations combat the climate crisis.

Taking place on Thursday 20 May, 8.45am-3pm (BST), Countdown to COP26 is the perfect primer for the official UN climate talks scheduled for November 

Countdown to COP26: edie launches bumper virtual event ahead of climate talks

Registration is now open for a brand-new edie event which aims to help businesses seize the opportunity of the UN's COP26 climate summit later this year, with a stellar speaker line-up including senior representatives from BEIS, ClientEarth, Green Alliance, We Mean Business and the High-Level Champions for Climate Action.

The WBCSD has more than 200 member businesses

Building resilience post-Covid-19: Businesses urged to 'reinvent capitalism' and regenerate nature

If the climate crisis is to be averted and the UN's Sustainable Development Goals to be met, businesses must help to "reinvent capitalism" so the "true value" of nature and society are appreciated.

JBS has also committed to eliminating all cases of illegal Amazon deforestation from its supply chain by 2025 and across other Brazilian regions by 2030

Meat giant JBS commits to net-zero emissions and zero deforestation

Brazilian meat producer JBS has ringfenced $1bn to reaching net-zero emissions across its value chain by 2040, while also aiming to eliminate illegal deforestation.

Money needs to be re-aligned in order to stimulate this demand

IRENA: Existing solutions can spur progress to net-zero

Global power sourced from renewables is set to treble by 2050, with wind, solar and hydrogen all required to account for 90% of all decarbonisation solutions to push the global economy towards the 1.5C pathway, a new report from the International Renewable Energy Agency (IRENA) has found.

The resolution will be put to a vote in May at HSBC’s AGM

HSBC to vote on phase-out of fossil fuel funding

HSBC will propose a new commitment to completely phase-out financing of coal-fired power and thermal coal mines by 2040 globally, following negotiations with a group of investors with $2.4tn in assets under management.

The IPCC has stated that achieving the Paris Agreement's 1.5C pathway will require net global emissions to reach zero by 2050

US takes step towards 2050 net-zero target with sweeping climate bill

A wide-ranging climate bill has been introduced to the US House of Representatives this week that, if passed, will commit the nation to net-zero by 2050.

The EU's Green New Deal is meant to see the EIB becoming 'the climate bank' for the bloc

EIB spent €890m on fossil gas since phase out pledge, activists say

The European Investment Bank (EIB) has invested €890m in gas projects since it pledged to phase out investments into fossil fuels by 2022, contradicting the bank's "gas is over" narrative, activists say.

Several of the nations that have proposed non-Paris-aligned 2030 targets have longer-term net-zero goals

UN: Global climate pledges will only reduce emissions by 1% this decade

The world is falling "far short" of alignment with the Paris Agreement, despite the fact that many nations have updated their climate targets.

The strategy warns there are currently “wide gaps” in knowledge, which need to be closed in order to prevent “climate-blind” decision making

EU unveils data-driven climate adaptation strategy, drawing green criticism

More and better data is needed to improve knowledge of how to adapt to climate change, according to the European Commission's new adaptation strategy, which immediately came under fire from green activists for missing binding targets.

Of the 111 companies in global heavy industry surveyed, only 16 are well on track to aligning strategies with the Paris Agreement

Global heavy industry failing to align with Paris climate goals

Only 14% of publicly listed companies in the steel, cement, aluminum, paper and mining sector are on track to meet the Paris Agreement's 2°C climate target, according to a report by the Transition Pathway Initiative (TPI), a global investor group supported by the UN. Still, some European companies offer hope, EURACTIV Germany reports.

CCS is viewed as a crucial technology in reaching net-zero emissions

ExxonMobil, LafargeHolcim and Elon Musk: The corporate giants placing their faith in CCS

Over the last couple of days, the world's largest cement manufacturer, one of the world's largest fossil fuel firms and the founder of the biggest electric vehicle (EV) manufacturer have all unveiled strategic efforts to commercialise carbon capture and storage projects.

edie also hosted a bespoke roundtable discussion with sustainability representatives present at the Forum, sponsored by EDF

Sustainability Leaders Forum: Five top tips for turning climate ambition into action

With the dust settling on three days of thought-provoking conversations at edie's Sustainability Leaders Forum (SLF), edie rounds up how businesses can make 2021 a super year for climate action, which turns ambition into action for corporate sustainability.

Fewer than 25% reference the impact that the climate crisis will have on future and current business models

Business giants' climate disclosure 'clearly inadequate', lawyers warn

Lawyers have warned that the majority of FTSE 100 and the largest companies on the FTSE 250 are failing to disclose adequate climate-related data as part of annual corporate reporting frameworks, with some potentially breaching UK law.

Rivett-Carnac worked with the UN to develop the Paris Agreement before serving as president at CDP North America. Now, he co-runs Global Optimism. 

Tom Rivett-Carnac: In the face of the climate emergency, we must all be stubborn optimists

EXCLUSIVE: Paris Agreement architect Tom Rivett-Carnac used his platform at edie's Sustainability Leaders Forum (2 February) to urge listeners to remain solutions-focussed, courageous and optimistic in the face of the world's biggest environmental challenges.

More than eight billion allowances changed hands through European markets in 2020, a near-20% increase on 2019 levels

Global carbon market grew 20% in 2020

The valuation of the global carbon market grew 20% in 2020, totalling almost €230bn and the fourth consecutive year of record growth, new research has found.

Currently, corporate commitments under the Race to Zero campaign cover more than 12% of the global economy and $9.8trn in revenue

COP26 President launches challenge to deliver net-zero 'tipping points' in every sector

The UN High-Level Climate Champions and COP26 President Alok Sharma have today (28 January) unveiled a radical new roadmap to push the global economy towards net-zero emissions, targeting a range of near-term, sectoral tipping points to deliver decarbonisation.

Pictured: The Pince gave a rousing speech via Zoom. Image: Corporate Knights 

Prince Charles: Sustainable business leadership alone won't combat climate change

While congratulating companies to have been named the most sustainable in the world, the Prince of Wales has warned that more must be done to deliver the global low-carbon transition in line with the Paris Agreement's 1.5C trajectory.

The bank doubled its corporate bond programme in response to Covid-19. Image: George Rex, CC BY SA

Bank of England's high-carbon financing a 'moral hazard', MPs warn

The Bank of England risks creating 'moral hazard' by continuing to finance high-carbon projects and companies and providing no-strings-attached financing to carbon intensives companies, the Environmental Audit Committee (EAC) has warned.

The Biden Administration is expected to reverse more than 100 climate-related policies introduced by Trump

Biden returns US to Paris Agreement as part of climate policy overhaul

In one of his first acts after being sworn in as the 46th President of the United States of America, Joe Biden moved to readmit the US back into the Paris Agreement, claiming that tackling the climate crisis, racial inequality and current coronavirus pandemic were the "gravest responsibilities" that countries face.

Pictured: Flooding in Lome, Togo. 

Developed nations accused of over-reporting climate adaptation finance by billions

Wealthy nations have exaggerated figures around how much finance they have provided to developing countries for climate adaptation, with up to $20bn less spent than promised between 2013 and 2017.