At COP26, U.S. investors, corporates and government leaders announce plans to raise their climate ambition, support stronger policy

Happening on the heels of yet another urgent and dire warning from the world’s leading scientists, the United Nations Climate Change Conference of Parties (COP26) marks a critical moment for investors, companies and governments to announce their plans on how they will raise their ambition and commit to supporting the policies needed to tackle the climate crisis. 

On Monday, a record 92 new asset managers with $10.8 trillion in assets joined the Net Zero Asset Managers initiative, bringing the total to 220 investors managing $57.4 trillion. This indicates that investors representing nearly 60% of the world’s total managed assets are now committed toward achieving the goal of net zero emissions by 2050 or sooner. The announcement builds on recent investor and corporate advocacy for urgent policy action from government leaders. Last month, a record 733 investors managing $51 trillion called for governments to end fossil fuel subsidies, phase out thermal coal, and mandate climate risk disclosures. At the same time, 750 companies urged governments to cut emissions by 2030 and keep the 1.5 degree goal within reach, and require companies to disclose their climate risks. This marks the largest U.S. corporate call for mandatory climate risk disclosure.

Heeding the business call for bold climate action, the Biden administration has already announced a number of new measures aimed at regulating methane emissions and funding efforts to end deforestation by 2030, sending clear signals to the global community about the U.S. commitment to climate leadership. Among the administration’s announcements is a new Methane Emissions Reduction Action Plan, released Tuesday, that would rapidly curb emissions of the potent pollutant from all methane wells by extending the protections to cover existing oil and gas well sites for the first time and strengthening emissions limits for existing facilities. 

Ceres has played a key role in mobilizing investor and corporate support for bold government action, and driving the necessary actions across the private sector to mitigate the climate crisis. Experts from the sustainability nonprofit are hosting and/or participating in a number of COP26 events and providing rapid response reactions throughout the international negotiations. They can provide perspective through the lens of U.S. climate policy, including last week’s developments related to the Build Back Better agenda. 

“We are running out the clock on our ability to stop the worst effects of the climate crisis. The time for urgent action from every investor, business, and government alike has never been greater,” said Ceres CEO and President Mindy Lubber. “Investors and companies want to see our world leaders take action to enact policies that will spur an economy-wide shift to a more just and inclusive zero emissions future. COP26 marks a key moment for public and private sector climate action and to build momentum for the further action we know is needed to achieve the change we need to see at the speed and scale the crisis demands.”

Ceres hosted events at COP26: 

The Investor Agenda: Accelerating global investor actions for a net zero emissions economy, an official side event hosted by the Investor Agenda on November 10, 2021, 11am-12:15pm ET | 3-4:15pm GMT. Investors are beginning to set net zero goals, develop climate action plans, and engage companies on transition planning. And, now investors representing around 50% of global assets have signed the Global Investor Statement to Governments on the Climate Crisis. Featuring Betty Yee, California State Controller, Deanne Stewart, CEO of Aware Super, Fabio Alperowitch, Co-Founder of Fama Investimentos, and Hidenao Makiuchi, Managing Director of Dai-Ichi Life.

Road through Glasgow: Accelerating Investor, Business, and Government Climate Action, a Ceres-hosted virtual session on November 5, 2021, 12:00pm ET | 4:00pm GMT. Government, business, investor and labor representatives will join a conversation with Ceres experts to provide real-time analysis and key insight into the evolving issues being debated at COP26 through the lens of U.S. climate change policy. Featuring Damon Silvers of AFL-CIO; Anne Simpson of CalPERS; and Anne Kelly, Mindy Lubber and Kirsten Spalding from Ceres. Additional speakers to be announced. 

Reach out to Helen Booth-Tobin ([email protected]) at Ceres for more information. Additional events featuring Ceres experts are listed on the Ceres COP26 webpage.

About Ceres
Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.